433 Citations
Is Bitcoin Really Untethered?
- Economics
- 2020
This paper investigates whether Tether, a digital currency pegged to the U.S. dollar, influenced Bitcoin and other cryptocurrency prices during the 2017 boom. Using algorithms to analyze blockchain…
Dry As the Desert? On the Liquidity of a Bitcoin Exchange
- Economics
- 2020
We analyze liquidity provision on Kraken, one of the major cryptocurrency exchanges, and compare the results to the foreign exchange (FX) and the stock market, recognizing that Bitcoin has originally…
Information Flow Between Bitcoin and Other Financial Assets
- Economics, MathematicsPhysica A: Statistical Mechanics and its Applications
- 2020
Abstract Since bitcoin launched in 2009, its popularity has soared, with global trading volume reaching 203.1 billion dollars as of August 2019. Given the trend that bitcoin is increasingly…
The Impact of Tether Grants on Bitcoin
- Economics, MathematicsEconomics Letters
- 2018
In recent years, Tether issuances (or ‘grants’) have increased significantly, which correlated broadly with a significant rise in Bitcoin valuation. This paper examines the impact of cryptocurrency…
Breaking the Stablecoin Buck: Measuring the Impact of Security Breach and Liquidation Shocks
- SSRN Electronic Journal
- 2022
—Cryptocurrencies have exploded in popularity, due in no small part to the rising value of Bitcoin. Yet much of their success relies upon stablecoins maintaining a consistent value pegged to fiat…
Profitability of cryptocurrency Pump and Dump schemes
- Computer Science
- 2021
A detailed analysis of P&D schemes using a novel statistical approach, while particularly focusing on the effect of each exchange, provides a better understanding of how the market is manipulated by the crowd of people in social media platforms.
Is Bitcoin Really Un-Tethered?
- Economics
- 2019
This paper investigates whether Tether, a digital currency pegged to the U.S. dollar, influenced Bitcoin and other cryptocurrency prices during the 2017 boom. Using algorithms to analyze blockchain…
The Rise and Fall of Cryptocurrencies
- Economics
- 2018
Since Bitcoin’s introduction in 2009, interest in cryptocurrencies has soared. One manifestation of this interest has been the explosion of newly created coins. This paper examines the dynamics of…
Bitcoin Exchange Rates: How Integrated are Markets?
- Economics
- 2018
We study trading of Bitcoin against US dollar (BTCUSD) on exchanges in three continents, Bitfinex, Bitstamp and Coinbase Pro. We use a high frequency dataset that contains transactions and order book…
References
SHOWING 1-10 OF 36 REFERENCES
The impact of DDoS and other security shocks on Bitcoin currency exchanges: evidence from Mt. Gox
- EconomicsJ. Cybersecur.
- 2017
It is found that following DDoS attacks on Mt. Gox, the number of large trades on the exchange fell sharply, and the distribution of the daily trading volume becomes less skewed (fewer big trades) and had smaller kurtosis on days followingDDoS attacks.
Beware the Middleman: Empirical Analysis of Bitcoin-Exchange Risk
- EconomicsFinancial Cryptography
- 2013
Using a proportional hazards model, it is found that an exchange’s transaction volume indicates whether or not it is likely to close, and that less popular exchanges are more likely to be shut than popular ones.
The Technology and Economic Determinants of Cryptocurrency Exchange Rates: The Case of Bitcoin
- EconomicsDecis. Support Syst.
- 2017
A theory-driven empirical study of the Bitcoin exchange rate (against USD) determination, taking into consideration both technology and economic factors, finds the impact of computational capacities on Bitcoin is decreasing as technology progresses.
A fistful of bitcoins: characterizing payments among men with no names
- Computer ScienceInternet Measurement Conference
- 2013
From this analysis, longitudinal changes in the Bitcoin market are characterized, the stresses these changes are placing on the system, and the challenges for those seeking to use Bitcoin for criminal or fraudulent purposes at scale are defined.
An inquiry into money laundering tools in the Bitcoin ecosystem
- Computer Science2013 APWG eCrime Researchers Summit
- 2013
A first systematic account of opportunities and limitations of anti-money laundering (AML) in Bitcoin, a decentralized cryptographic currency proliferating on the Internet, is provided and it appears unlikely that a Know-Your-Customer principle can be enforced in the Bitcoin system.
The economics of BitCoin price formation
- Economics, Business
- 2014
ABSTRACT This is the first article that studies BitCoin price formation by considering both the traditional determinants of currency price, e.g., market forces of supply and demand, and digital…
Bitcoin: Economics, Technology, and Governance
- Economics
- 2014
Bitcoin is an online communication protocol that facilitates the use of a virtual currency, including electronic payments. Bitcoin's rules were designed by engineers with no apparent influence from…
There's No Free Lunch, Even Using Bitcoin: Tracking the Popularity and Profits of Virtual Currency Scams
- Computer ScienceFinancial Cryptography
- 2015
The first empirical analysis of Bitcoin-based scams: operations established with fraudulent intent is presented, finding that at least $11 million has been contributed to the scams from 13 000 distinct victims.
Botcoin: Monetizing Stolen Cycles
- Computer ScienceNDSS
- 2014
This work conducts the first comprehensive study of Bitcoin mining malware, and deduces the amount of money a number of mining botnets have made by carefully reconstructing the Bitcoin transaction records.
Cryptocurrency Value Formation: An Empirical Analysis Leading to a Cost of Production Model for Valuing Bitcoin
- Mathematics, EconomicsMCIS
- 2015
Using cross-sectional empirical data examining 66 of the most widely used cryptocurrencies, a regression model was estimated that points to three main drivers of cryptocurrency value: the level of competition in the network of producers, the rate of unit production, and the difficulty of algorithm used to “mine” for the cryptocurrency.