BazEkon - The Main Library of the Cracow University of Economics

BazEkon home page

Main menu

Author
Binda Jacek (Wyższa Szkoła Finansów i Prawa w Bielsku-Białej)
Title
E-Business Challenges in the Field of Payment Solutions - Bitcoin a Sustainable Currency Or Gambling
Source
Scientific Journal of Bielsko-Biala School of Finance and Law, 2018, nr 3, s. 5-12, rys., tab., bibliogr. 23 poz.
Zeszyty Naukowe / Wyższa Szkoła Finansów i Prawa w Bielsku Białej
Keyword
Kryptowaluty, Bitcoin, Pieniądz elektroniczny
Cryptocurrencies, Bitcoin, Electronic money
Note
summ.
Abstract
Money is a widely accepted commodity allowing to determine the economic value of purchased goods and services and to make payments. Over the centuries, "money" has been constantly evolving. In recent times, following dynamic development of various forms of e-business, dematerialized money has emerged. However, in constantly changing conditions it is very difficult to grasp the essence of the so called e-money or cryptocurrencies. The paper tries to define Bitcoin, one of the most recognizable cryptocurrencies, and answer the question whether investing in cryptocurrencies is a serious business or a mere gambling. In search for the answers, the author reviews literature on the topic and conducts his own risk analysis based on Value at Risk measure, of selected traditional currencies and Bitcoin. The results of the analysis unambiguously show that investments in Bitcoin are burdened with definitely much higher risk. Furthermore, conclusions of the considerations clearly show that despite growing popularity of cryptocurrencies they do not fulfill the definition of both electronic money or money in general. The paper attempts to discuss selected issues related to Bitcoin cryptocurrencies from the monetary point of view but also with respect to restrictions of Bitcoin as a means of payment, investments in Bitcoin and risk assessment.(original abstract)
Accessibility
The Library of University of Economics in Katowice
Full text
Show
Bibliography
Show
  1. Blockchain.info. (2018). Bitcoin Block Explorer - Blockchain. [online] Available at: http://blockchain.info [Accessed 4 Mar. 2018].
  2. Coinmarketcap.com. (2018). All Cryptocurrencies | CoinMarketCap. [online] Available at: https://coinmarketcap.com/all/views/all/ [Accessed 4 Mar. 2018].
  3. Duwendag, D., Ketterer, K., Kosters, W., Pohl, R. and Simmert, D. (1995). Teoria pieniądza i polityka pieniężna. Warszawa: Poltext.
  4. Forecast Alert: IT Spending, Worldwide, 2Q15 update. Gartner, Inc. and/or its Affiliates, Gartner, Inc. and/or its Affiliates, 2015.
  5. Coinmarketcap.com. (2018). 24 Hour Volume Rankings (Exchange) | CoinMarketCap. [online] Available at: https://coinmarketcap.com/exchanges/volume/24-hour/ [Accessed 4 Mar. 2018].
  6. Coinmarketcap.com. (2018). Top 100 Cryptocurrencies by Market Capitalization. [online] Available at: https://coinmarketcap.com/currencies/ bitcoin/#markets [Accessed 4 Mar. 2018].
  7. Investopedia. (n.d.). [online] Available at: http://www.investopedia.com/terms/ c/cryptocurrency.asp [Accessed 4 Mar. 2018].
  8. Keynes, J. (1956). Ogólna teoria zatrudnienia, procentu i pieniądza. Warszawa: PWN.
  9. Kliestik, T., Musa, H. and Frajtová-Michalikova, K. (2015). Parametric methods for estimating the level of risk in finance. Procedia - Economics and finance, 24, pp.322-330.
  10. Kurek, R. (2015). Bitcoin a ekonomiczne funkcje pieniądza. Prace naukowe Uniwersytetu Ekonomicznego we Wrocławiu, 395.
  11. Marchewka, K. (2001). Funkcje pieniądza a funkcje kapitałów (oszczędności) pieniężnych. Poznań: Ruch prawniczy, ekonomiczny i socjologiczny, p.193.
  12. Michalik, Ł. (2012). Bitcoin - waluta wolnych ludzi czy pomysłowa piramida finansowa?. Gadżetomania.
  13. Mieses, L. (2007). Ludzkie działanie. Warszawa: Instytut Ludwiga von Misesa.
  14. Statista. (2018). Number of Bitcoins quarterly 2018 | Statistic. [online] Available at: https://www.statista.com/statistics/247280/number-of-bitcoinsin- circulation/ [Accessed 4 Mar. 2018].
  15. Mishkin, F. (2002). Ekonomika pieniądza, bankowości i rynków finansowych. Warszawa: PWN.
  16. Nbp.pl. (2018). Narodowy Bank Polski - Internetowy Serwis Informacyjny. [online] Available at: http://nbp.pl [Accessed 17 Oct. 2018].
  17. Piaszczyński, W. (2004). Anatomia pieniądza. Warszawa: "Script."
  18. Piotrowska, A. (2014). Bitcoin a definicja i funkcje pieniądza. Annales Universitatis Mariae Curie-Skłodowska, XLVIII(3).
  19. Quandl.com. (2018). Quandl. [online] Available at: https://www.quandl.com/data/BCHAIN/MWNUS-Bitcoin-My-Wallet- Number-of-Users [Accessed 17 Oct. 2018].
  20. Quandl.com. (2018). Quandl. [online] Available at: HTTPS://WWW.QUANDL.COM/DATA/BCHAIN/MWNUS-BITCOINMY- WALLET-NUMBER-OF-USERS [Accessed 02 Dec. 2017].
  21. Sieroń, A. (2003). Czym jest Bitcoin. Ekonomia, Wroclaw Economic Review, 19(4).
  22. Stępień, A. (2000). Atrakcyjność wirtualnej gospodarki. In: Zarządzanie organizacjami gospodarczymi w warunkach globalizacji. Łódź: Politechnika Łódzka, p.328.
  23. Waszczuk, P. and Service, I. (2018). Gartner: Budżety na IT mniejsze o 4,7 proc.. [online] Computerworld.pl. Available at: http://www.computerworld.pl/news/346414/Gartner.Budzety.na. IT.mniejsze.o.4.7. proc.html [Accessed 4 Mar. 2018
Cited by
Show
ISSN
2543-411X
Language
eng
URI / DOI
http://dx.doi.org/10.5604/01.3001.0012.7280
Share on Facebook Share on Twitter Share on Google+ Share on Pinterest Share on LinkedIn Wyślij znajomemu