Is Bitcoin the Only Cryptocurrency in the Town? Economics of Cryptocurrency And Friedrich A. Hayek

@article{Iwamura2014IsBT,
  title={Is Bitcoin the Only Cryptocurrency in the Town? Economics of Cryptocurrency And Friedrich A. Hayek},
  author={Mitsuru Iwamura and Yukinobu Kitamura and Tsutomu Matsumoto},
  journal={Economics of Innovation eJournal},
  year={2014}
}
This paper overviews the entire landscape of Bitcoin-like cryptocurrencies. Bitcoin has not emerged out of cryptocurrency competition, but rather became a dominant currency as the first broad market based cryptocurrency. But there are more than a hundred of cryptocurrencies in the market, and some are catching up to Bitcoin. This is a healthy sign of currency competition a la Hayek. Through this competition new technological and security innovations may emerge. In this paper, we point out… 
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