The Economics of Bitcoin and Similar Private Digital Currencies

@article{Dwyer2015TheEO,
  title={The Economics of Bitcoin and Similar Private Digital Currencies},
  author={Gerald P. Dwyer},
  journal={Journal of Financial Stability},
  year={2015},
  volume={17},
  pages={81-91}
}
  • G. Dwyer
  • Published 2015
  • Economics
  • Journal of Financial Stability
Recent innovations have made it feasible to transfer private digital currency without the intervention of an organization such as a bank. Any currency must prevent users from spending their balances more than once, which is easier said than done with purely digital currencies. Current digital currencies such as Bitcoin use peer-to-peer networks and open source software to stop double spending and create finality of transactions. This paper explains how the use of these technologies and… Expand
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