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The Case for a 21 Million Bitcoin Conspiracy

Author

Listed:
  • Østbye, Peder

    (Norges Bank)

Abstract

Bitcoin and many other cryptocurrencies have currency-caps implemented in their protocols. Bitcoin is capped at approximately 21 million bitcoins. These protocols are complied by consenting operators. This paper discusses whether such currency-caps are illegal quantity-fixing conspiracies in violation of antitrust law. It is found that there is a present antitrust risk for cryptocurrency operators. This may render such operators subject to criminal and civil liabilities.

Suggested Citation

  • Østbye, Peder, 2018. "The Case for a 21 Million Bitcoin Conspiracy," Journal of Financial Transformation, Capco Institute, vol. 48, pages 88-97.
    • Handle: RePEc:ris:jofitr:1615
    as

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    More about this item

    Keywords

    antitrust law; blockchain; competition law; cryptocurrencies; monetary theory;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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