Papers On Cryptocurrency

The mystery of what cryptocurrency really is and what the future holds for it is another trait of Bitcoin that resembles the buildup of the Tulip mania bubble. A sense of mystery was created from the colors being unknown for the tulips that were cross bred which assisted in pushing up the values of tulips. With the U.S Securities and Exchange Commission (SEC) and Commodity Futures Trade Commission (CFTC) taking opposing views on whether Bitcoin is a commodity or security, the air of mystery due to weak regulations has contributed to its price instability. It can be expected that the bubble will burst as Bitcoin will increase in the near future. When? That’s the million dollar question. As the Bitcoin market surges, it has attracted increased public attention and everyone wants a piece of the pie. As a result, the market value of Bitcoin increases exponentially. There are approximately 16 million bitcoins in circulation today from a total of 21 million. With 5 million or less left to be mined, it makes Bitcoin mining very competitive

Consumers tend to be comfortable with virtual transactions and they also prefer payments using electronic systems to cash. There is an increase of accessing personal information to online platform (DeVries, 2016). However, the awareness of customer is likely to be a limiting factor for cryptocurrency to adapt into monetary market. According to Consumer Cryptocurrency Survey, there is only 6% of participants “very” familiar with cryptocurrency, particularly Bitcoin (PwC 's Financial Services Institute, 2015).

As you can see, there are quite a few rules for blockchain technology, and many more will soon follow. Don’t let that deter you, though. With just a little knowledge, navigating the confusing realm of cryptocurrency will become a piece of cake in no

Institutions have failed to understand that bitcoins and blockchains have symbiotic relationships. The coin is an incentive mechanism to maintain security. Until the invention of Bitcoin in 2008, security and decentralization seemed like contrary concepts. Traditional models of financial transactions lie on centralized control to provide security. The architecture of traditional financial network is built around a central authority. As a result, security and authority had to be vested in that central actor. The resulting security model looks like concentric circle with very limited access to the center and increasing access as we move away from the center. However, even the most outermost circle, cannot afford open access. The entities near the

In today's CoinTalk, an anonymous whistleblower reveals major vulnerabilities found in Substratum's ICO contract, self-driving cars meet the blockchain, Youtube's monetization takes another punch from crypto, Coinmarketcap.com continues to list scam coins, and Ethereum is headed for Mars.

It has kind of tained the entire crypto project. I have watched so many people leave crypto in the past 2 years. It has been frustrating to watch. So with Neucoin

We take the position that digital currencies are a fad. As argument, we try to clarify the definition of currency in general and explain what a "digital currency" really mean. Than we examine the arguments for the digital currencies and at the end we present the evidences of perils of digital currency.

In all seriousness, while many are adopting the cryptocurrency, it must be said that the integration of the

The hidden power behind cryptocurrency is blockchain technology, which is as tough to recognize as it is to discuss. There are definitely in-depth descriptions of exactly how blockchains work offered, yet generally, each is built on an openly

Esmail Enterprises working in conjunction with Get Connected is a distribution Company servicing the independent retail sector for

Bitcoin has no value of its own contrary to what many argue. Its value is derived by the number of people adopting it and pouring their money into the BTC ecosystem. Investments by deep-pocketed investors like Winklevoss twins (estimated BTC stake around 11 million USD back in April), Chamath Palihapitiya, ex-Facebook executive and early employee, who has already dropped $5 million into BTCs and has plans to invest another $10 million are the reasons for skyrocketing price of bitcoins [3] [4]. Add to this, the publicity and trust in the system they are generating. Bitcoin's future potential was a hot topic this October at emTech, an MIT conference on emerging technologies [5]. Considering BTCs more as a start-up rather than a currency, its growth curve makes more sense but unlike a start-up it’s not generating any value itself but gaining people’s trust. And that’s what gives it value.

Litecoin – is the second largest cryptocurrency in terms of capitalization in the market today. It reached a market cap of $1 billion by the end of the year, 2013. The litecoin was primarily created as an improvement to the Bitcoin, the market leader. Among the added features are - mining capabilities with the use of an ordinary desktop computer, faster processing time (2.5 minutes versus 10 minutes for Bitcoin), and a maximum limit (84 million versus 21 million) which is four times more than Bitcoin, its leading rival.

Many people would be not be wrong by saying that cryptocurrency is currency, after all, the name suggests that it is; however, that is unfortunately only half true because cryptocurrencies only exist in a digital domain, hence why it is also known as virtual currency. So what exactly is cryptocurrency? Cryptocurrency are essentially lines of code that are created by a cryptocurrency community using a process called mining (Bajpai, 2015a). The very first cryptocurrency that emerged was Bitcoin, created by Satoshi Nakamoto in 2008 and the software behind it has been released as open source hence why there are numerous alternatives of bitcoin, generally called Altcoins; Altcoins, basically, are like Bitcoins in many ways but not quite the same. (Guadamuz, Marsden, 2015). Much the same as some other physical monetary forms, for example, Pounds or Dollars, virtual currency is used as a medium of exchange for goods or services. On the other hand, virtual currency does not share the majority of the properties of a normal currency: cryptocurrency is decentralized, implying that it is not in any way controlled by any national bank, government or money related instituion, which basically implies that nobody can endorse or issue virtual currency (Bajpai, 2015b). Virtual currencies, such as Bitcoin, Litecoin and altcoins, are similar to currencies that exist in videos games where currencies are relevant only to a respective virtual environment (Guadamuz, Marsden, 2015). Real world

Cryptocurrency is a digital currency that uses cryptography for security purposes to make it hard for unscrupulous people to counterfeit. It is considered as fiat currency where its value is dependent upon its acceptance as medium of exchange.

Some advantages of Bitcoin are that they are transferred directly from person to person, fees are much lower, they can be used in any country and accounts cannot be frozen and no prerequisites or arbitrary limits exist. On the other hand, there are privacy and security issues that arise since bitcoins are shared publically online sometimes making it the go-to currency for criminals online.