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Price Manipulation In The Bitcoin Ecosystem
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Book Synopsis Price Manipulation in the Bitcoin Ecosystem by : Erman Yılmaz
Download or read book Price Manipulation in the Bitcoin Ecosystem written by Erman Yılmaz and published by Erman Yılmaz. This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: To its proponents, the cryptocurrency Bitcoin offers the potential to disrupt payment systems and traditional currencies. It has also been subject to security breaches and wild price fluctuations. This paper identifies and analyzes the impact of suspicious trading activity on the Mt. Gox Bitcoin currency exchange, in which approximately 600,000 bitcoins (BTC) valued at $188 million were fraudulently acquired. During both periods, the USD-BTC exchange rate rose by an average of four percent on days when suspicious trades took place, compared to a slight decline on days without suspicious activity. Based on rigorous analysis with extensive robustness checks, the paper demonstrates that the suspicious trading activity likely caused the unprecedented spike in the USD-BTC exchange rate in late 2013, when the rate jumped from around $150 to more than $1,000 in two months.
Book Synopsis Price Manipulation in the Bitcoin Ecosystem by : Neil Gandal
Download or read book Price Manipulation in the Bitcoin Ecosystem written by Neil Gandal and published by . This book was released on 2017 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: We identify and analyze the impact of suspicious trading activity (STA) on the Mt. Gox Bitcoin currency exchange between February and November 2013. We discuss two distinct STA periods in which approximately 600,000 bitcoin (BTC) valued at $188 million were acquired by agents who did not pay for the bitcoins. During the second period, the USD-BTC exchange rate rose by an average of $20 at Mt. Gox on days when suspicious trades took place, compared to a slight decline on days without suspicious activity. Based on rigorous analysis with extensive robustness checks, we conclude that the suspicious trading activity caused the unprecedented spike in the USD-BTC exchange rate in late 2013, when the rate jumped from around $150 to more than $1,000 in two months.
Book Synopsis Price Manipulation in the Cryptocurrency Ecosystem by : JT Hamrick
Download or read book Price Manipulation in the Cryptocurrency Ecosystem written by JT Hamrick and published by . This book was released on 2020 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Metcalfe's Law as a Model for Bitcoin's Value by : Timothy Peterson
Download or read book Metcalfe's Law as a Model for Bitcoin's Value written by Timothy Peterson and published by . This book was released on 2020 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper demonstrates that bitcoin's medium- to long-term price follows Metcalfe's law. Bitcoin is modeled as a token digital currency, a medium of exchange with no intrinsic value that is transacted within a defined electronic network. Per Metcalfe's law, the value of a network is a function of the number of pairs transactions possible, and is proportional to n-squared. A Gompertz curve is used to model the inflationary effects associated with the creation of new bitcoin. The result is a parsimonious model of supply (number of bitcoins) and demand (number of bitcoin wallets), with the conclusion bitcoin's price fits Metcalfe's law exceptionally well. Metcalfe's law is used to investigate Gandal's et.al. [2018] assertion of price manipulation in the Bitcoin ecosystem during 2013-2014.
Download or read book Bitcoin written by Roger Svensson and published by Independently Published. This book was released on 2021-07-05 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: "There is little doubt that members of the cryptocurrency community have all the hallmarks of cult followers. For cult members wishing to be deprogrammed, as well as those seeking sound information and analysis, Bitcoin: Unlicensed Gambling is a most edifying and useful read." - Prof. Steve H. Hanke, founder and co-director of the Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise, and a senior fellow and the director of the Troubled Currencies Project at the Cato Institute. Promoters claim that bitcoin is a new type of money, reduces transactions costs by abandoning intermediaries and will become a safe asset that they call "digital gold". In this book, we dissect these claims and explain what bitcoin really is. Economic theory states that money should reduce transaction costs for payments, loans, and relative valuations, which requires a stable value. We show that the extreme price volatility and the high transaction costs - especially the time component - make bitcoin almost useless as money. Bitcoin increases, instead of reduces, transactions costs. Furthermore, an intermediary exists - the miner - who charges a transaction fee. The fundamental value of assets is based on their cash flow or utility, which applies for shares, bonds, real estate, and intellectual property. Gold is the best-known store of value and a hedge against financial crisis and inflation. Bitcoin has no cash flow or utility, and statistics show that it is no hedge against anything. It is, in fact, pro-cyclical and its crashes of 50 % in 2018 and 2021 are unmatched by any of the main fiat currencies in the last 50 years. Bitcoin has no intrinsic value and is not anything at all like digital gold. Bitcoin is an open Ponzi scheme. The Ponzi is "open" since it is public knowledge that there are no assets at all backing a bitcoin. To the promoters of bitcoin, the lack of assets is "a feature and not a bug." The main function of the bitcoin network is simply unlicensed gambling, where new players redeem those who entered earlier. It is a zero-sum game. Finally, the bitcoin system has no responsible issuer. So, if the system breaks down, holders have nobody from whom to claim - or to whom to assign blame. Although bitcoin is nothing other than a public and decentralized ledger of accounts and transactions, the bitcoin network and its promoters have been very successful in increasing the market value of a bitcoin from 10 to 30,000 USD in 10 years. Promoters of bitcoin use methods that include: 1) distracting investors from which functions bitcoin has or does not have; 2) directing attention to irrelevant technobabble; and 3) manipulating trade and prices in the bitcoin market. Marketing of a strong brand and visual illusions in the form of physical glittering coins make the impression that bitcoin is something valuable. But we show that it is not. The average investor is succumbing to these successful methods and risks their house, savings, and pension. We show that bitcoin is also used for criminal activities such as ransomware payments, tax evasion, and money laundering. The bitcoin network consumes vast amounts of electricity and critical advanced computer chips, which consumption creates negative externalities in the form of higher prices and shortages in other sectors. With no fundamental function, not even providing governments with tax revenue specifically due from the unlicensed gambling that bitcoin really is, bitcoin's actual value for society is negative. We propose that, before there is more damage to the public, government gambling regulators immediately enforce existing regulations and take action to investigate those who operate the bitcoin network.
Book Synopsis Blockchain in Supply Chain Digital Transformation by : Trevor Clohessy
Download or read book Blockchain in Supply Chain Digital Transformation written by Trevor Clohessy and published by CRC Press. This book was released on 2023-02-24 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: Blockchain and distributed ledger technology (DLT) have been identified as emerging technologies that can enhance global supply chain management processes. Given the embryonic nature of the technology, use cases pertaining to how it can be adopted and deployed in supply chain contexts are scarce. This book shares blockchain supply chain use cases across a range of industries including smart cities, food imports, product traceability, decentralised finance, procurement, energy management, consensus mechanism security, and industry 4.0. Given its scope, it is primarily intended for academics, students, researchers, and practitioners who want to learn more about how blockchain can digitally transform global supply chains.
Book Synopsis Trusts and Private Wealth Management by : Richard Nolan
Download or read book Trusts and Private Wealth Management written by Richard Nolan and published by Cambridge University Press. This book was released on 2022-12-22 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been insufficient literature focusing on the world-changing rise of Asian wealth. Private wealth in Asia is very substantial, with 33 per cent of the global population of high-net-worth individuals based in Asia. Yet, there is a dearth of legal analysis of Asian wealth, particularly by texts written in English. This collection aims to fill that gap, with chapters on legal issues in relation to Asian wealth transmission, investments in international real estate, familial disputes, family offices and private trust companies. A substantive section of this book also focuses on the changing legal context with chapters exploring trusts and cryptoassets, constructive trust, trustee's discretion and decision-making, changing regulatory environment and abuse of trust structures. This collection of essays on trusts and wealth management presents a focus on Asian wealth and the changing legal context, and follows the related publication, Trusts and Modern Wealth Management (Cambridge University Press, 2018).
Book Synopsis Economics of Information Security by : L. Jean Camp
Download or read book Economics of Information Security written by L. Jean Camp and published by Springer Science & Business Media. This book was released on 2006-04-11 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: Designed for managers struggling to understand the risks in organizations dependent on secure networks, this book applies economics not to generate breakthroughs in theoretical economics, but rather breakthroughs in understanding the problems of security.
Book Synopsis Blockchain as a Technology for Environmental Sustainability by : Maria José Sousa
Download or read book Blockchain as a Technology for Environmental Sustainability written by Maria José Sousa and published by CRC Press. This book was released on 2024-08-16 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: At a time of growing environmental concerns and an urgent need for sustainable solutions, the intersection of blockchain technology and environmental sustainability is emerging as a powerful force for positive change. The environmental challenges of our time, including climate change, resource scarcity and the destruction of ecosystems, require innovative solutions that transcend geographical and political boundaries. Blockchain technology, with its decentralized and transparent nature, can not only track and verify environmental efforts, but also incentivize them.
Book Synopsis Blockchain and Cryptocurrencies by : Saralees Nadarajah
Download or read book Blockchain and Cryptocurrencies written by Saralees Nadarajah and published by MDPI. This book was released on 2021-01-13 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: Blockchain and cryptocurrencies have recently captured the interest of academics and those in industry. Cryptocurrencies are essentially digital currencies that use blockchain technology and cryptography to facilitate secure and anonymous transactions. The cryptocurrency market is currently worth over $500 billion. Many institutions and countries are starting to understand and implement the idea of cryptocurrencies in their business models. This Special Issue will provide a collection of papers from leading experts in the area of blockchain and cryptocurrencies. The topics covered in this Special Issue will include but are not limited to the following: academic research on blockchain and cryptocurrencies; industrial applications of blockchain and cryptocurrencies; applications of fintech in academia and industry; the economics of blockchain technology, and the financial analysis and risk management with cryptocurrencies.
Download or read book Fintech written by Zhong Xu and published by Routledge. This book was released on 2022-03-10 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fintech, the integration of technology into the delivery of financial services, has revolutionized the world of Finance. This book introduces a new framework to study the concepts that underly Fintech while examining the driving forces and underlying logic behind Fintech-based innovation and predicting the future development of Fintech. The first three parts of the book cover the development and basics of Fintech and its relationship with inclusive finance, while later parts constitute a deep dive into several core issues surrounding Fintech. First, the book introduces an economic explanation of blockchain and its application in various scenarios based on the token paradigm. Second, it studies digital currency and discusses its impacts on payment systems, financial inclusion, monetary policy, and financial stability. Third, the authors explore how to build a compliant and effective market for data while protecting data privacy, impinging on the future development of AI application, the digital economy, and Fintech. Fourth, the book examines public policies related to Fintech, including regulatory technology, the regulation of financial activities of Big Tech companies, and how to promote financial inclusion. The title will appeal to scholars, students, and financial practitioners and regulators in a broad range of areas including economics, finance, technology, and public policy, especially Fintech, blockchain, and digital currency.
Book Synopsis Financial Cryptography and Data Security by : Nikita Borisov
Download or read book Financial Cryptography and Data Security written by Nikita Borisov and published by Springer Nature. This book was released on 2021-10-23 with total page 529 pages. Available in PDF, EPUB and Kindle. Book excerpt: This double volume constitutes the thoroughly refereed post-conference proceedings of the 25th International Conference on Financial Cryptography and Data Security, FC 2021, held online due to COVID-19, in March 2021. The 47 revised full papers and 4 short papers together with 3 as Systematization of Knowledge (SoK) papers were carefully selected and reviewed from 223 submissions. The accepted papers were organized according to their topics in 12 sessions: Smart Contracts, Anonymity and Privacy in Cryptocurrencies, Secure Multi-Party Computation, System and Application Security, Zero-Knowledge Proofs, Blockchain Protocols, Payment Channels, Mining, Scaling Blockchains, Authentication and Usability, Measurement, and Cryptography.
Book Synopsis The Palgrave Handbook of Technological Finance by : Raghavendra Rau
Download or read book The Palgrave Handbook of Technological Finance written by Raghavendra Rau and published by Springer Nature. This book was released on 2021-09-09 with total page 888 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook provides the first comprehensive overview of the fast-evolving alternative finance space and makes a timely and in-depth contribution to the literature in this area. Bringing together expert contributions in the field from both practitioners and academics, in one of the most dynamic parts of the financial sector, it provides a solid reference for this exciting discipline. Divided into six parts, Section 1 presents a high-level overview of the technologically-enabled finance space. It also offers a historical perspective on technological finance models and outlines different business models. Section 2 analyses digital currencies including guides to bitcoins, other cryptocurrencies, and blockchains. Section 3 addresses alternative payment systems such as digital money and asset tokenization. Section 4 deals with crowdfunding models from both a theoretical perspective and from a regulatory perspective. Section 5 discusses data-driven business models and includes a discussion of neural networks and deep learning. Finally, Section 6 discusses welfare implications of the technological finance revolution. This collection highlights the most current developments to date and the state-of-the-art in alternative finance, while also indicating areas of further potential. Acting as a roadmap for future research in this innovative and promising area of finance, this handbook is a solid reference work for academics and students whilst also appealing to industry practitioners, businesses and policy-makers.
Book Synopsis Research Handbook on Law and Technology by : Bartosz Brożek
Download or read book Research Handbook on Law and Technology written by Bartosz Brożek and published by Edward Elgar Publishing. This book was released on 2023-12-11 with total page 535 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thorough and incisive Research Handbook reconstructs the scholarly discourses surrounding the field of law and technology, discussing the salient legal, governance and societal problems stemming from the use of different technologies, and how they should be treated under various legal frameworks. This title contains one or more Open Access chapters.
Book Synopsis The Emerald Handbook on Cryptoassets by : H. Kent Baker
Download or read book The Emerald Handbook on Cryptoassets written by H. Kent Baker and published by Emerald Group Publishing. This book was released on 2023-01-16 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bitcoin’s introduction as the first cryptoasset in 2009 ushered in a new era, generating much interest, excitement, and growth. A cryptoasset is a digital asset using blockchain technology to regulate the generation of new units and verify and secure transactions.
Book Synopsis Design Science Research for a Resilient Future by : Munir Mandviwalla
Download or read book Design Science Research for a Resilient Future written by Munir Mandviwalla and published by Springer Nature. This book was released on with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Some Fundamentals of Mathematics of Blockchain by : Julien Riposo
Download or read book Some Fundamentals of Mathematics of Blockchain written by Julien Riposo and published by Springer Nature. This book was released on 2023-06-06 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a foundation for the mathematics of blockchain. It is inspired by a general analysis and synthesis of the current knowledge of blockchain technology and starts by laying a foundation for the mathematics of blockchain. The aim is for research in the area of blockchain to lead their study from the construction highlighted in this book. First, the basis of a blockchain is set: block, transaction contents, block header, Merkle tree, nonce, Proof-of-Work. Connections with elliptic curves and cryptographic signatures are made. Second, the book ties this with a Graph and Matrix Theories approach and models the peer-to-peer relationship through the Bitcoin Network. Third, it is proposed further modelling, notably around halving, optimal storing, or diffusion of information, which are consequences of the mathematical foundation. The notion of Entropy of Privacy and the Particles model are introduced. Finally, the mathematical statements therein are proven and essential reminders can be found before each section, so the content can be accessible from a graduate level.
