Can cryptocurrencies fulfil the functions of money?

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dc.contributor.author Ammous, Saifedean
dc.date.accessioned 2018-03-23T13:28:58Z
dc.date.available 2018-03-23T13:28:58Z
dc.date.issued 2018-03-23
dc.identifier.uri http://hdl.handle.net/10725/7260 en_US
dc.description.abstract This paper analyses five cryptocurrencies’ monetary supply growth, credibility, and stability, to evaluate whether these currencies can perform the functions of money. While all cryptocurrencies can theoretically serve as a medium of exchange, they are inherently too unstable to be used as a unit of account. Of the five, only Bitcoin could serve as a store of value, due to its strict commitment to low supply growth, credibly backed by the network’s distributed protocol and very large processing power. Other cryptocurrencies’ low processing power, centralized control, and use as tokens for specific applications make them unlikely to fulfil monetary functions en_US
dc.language.iso en en_US
dc.relation.ispartofseries Working paper / Center on Capitalism and Society, Columbia University; no. 92 en_US
dc.title Can cryptocurrencies fulfil the functions of money? en_US
dc.type Conference Paper / Proceeding en_US
dc.author.school SOB en_US
dc.author.idnumber 200905039 en_US
dc.author.department Department of Economics (ECON) en_US
dc.description.embargo N/A en_US
dc.keywords Cryptocurrency en_US
dc.keywords Bitcoin en_US
dc.keywords Money en_US
dc.identifier.doi http://dx.doi.org/10.2139/ssrn.2832769 en_US
dc.identifier.ctation Ammous, S. H. (2016). Can cryptocurrencies fulfil the functions of money? Columbia University, Center on Capitalism and Society, Working Paper No. 92, August 2016. en_US
dc.author.email saifedean.ammous@lau.edu.lb en_US
dc.identifier.tou http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php en_US
dc.identifier.url https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2832769 en_US
dc.author.affiliation Lebanese American University en_US

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