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Cryptocurrencies. Technical And Functional Aspects

Author

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  • Marius GUST

    (”Constantin Brâncoveanu” University of Pitesti, Romania)

Abstract

Nearly a decade after the appearance ofcryptocurrencies, they have grown, both in number and in market, being areality of our day, and in the last year the media has constantly written aboutthem. Yet they continue to be a mystery. Normal, on the one hand, because notall of us are computer scientists, many are just computer users, but few arethe ones who are good at cryptography. Unfortunately, so too few of thefounders and users of cryptocurrencies are good at the economy. Maybe that'swhy they exaggerate when they call their crypto "coins" creations.These creations are not and probably will not be coin for a long time.Cryptocurrency there is something that few are good at, but many want it,because it brings them some wealth. Cryptocurrency and their evolution in thepast year have enriched their founders and, being unregulated, we should countthe days until we are impoverished. Cryptocurrencies have emerged and developedas a result of a sense of frustration among many who believe that people in theleadership of states and authorities live on their backs, banks steal them,states discriminate against them, judges and lawyers are not right. It is theworld of the Internet, the world where people are free and have no bosses andno laws. Cryptocurrencies also mean many personal pride, but also the right toopinion and a social democracy. Or maybe anarchy. How could we justify morethan 1500 such assets in less than 10 years.

Suggested Citation

  • Marius GUST, 2018. "Cryptocurrencies. Technical And Functional Aspects," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 3(3), pages 198-212.
  • Handle: RePEc:brc:brccej:v:3:y:2018:i:3:p:198-212
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    References listed on IDEAS

    as
    1. Jonathan Chiu & Thorsten V. Koeppl, 2017. "The Economics Of Cryptocurrencies - Bitcoin And Beyond," Working Paper 1389, Economics Department, Queen's University.
    2. Michel Rauchs & Garrick Hileman, 2017. "Global Cryptocurrency Benchmarking Study," Cambridge Centre for Alternative Finance Reports 201704-gcbs, Cambridge Centre for Alternative Finance, Cambridge Judge Business School, University of Cambridge.
    3. Chiu, Jonathan & Koeppl, Thorsten V, 2017. "The economics of cryptocurrencies – bitcoin and beyond," Working Paper Series 6688, Victoria University of Wellington, School of Economics and Finance.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    bitcoin; litecoin; riiple; ethereum;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates

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