Is Bitcoin the Only Cryptocurrency in the Town? Economics of Cryptocurrency and Friedrich A.Hayek
This paper overviews the entire landscape of Bitcoin-like cryptocurrencies. Bitcoin has not emerged out of cryptocurrency competition, but rather became a dominant currency as the first broad market based cryptocurrency. But there are more than a hundred of cryptocurrencies in the market, and some are catching up to Bitcoin. This is a healthy sign of currency competition á la Hayek. Through this competition new technological and security innovations may emerge. In this paper, we point out potential problems with Bitcoin and propose some ideas for an alternative cryptocurrency.
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- Champ,Bruce & Freeman,Scott & Haslag,Joseph, 2016.
"Modeling Monetary Economies,"
Cambridge University Press, number 9781316508671, October.
- Champ,Bruce & Freeman,Scott & Haslag,Joseph, 2011. "Modeling Monetary Economies," Cambridge Books, Cambridge University Press, number 9780521177009, December.
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- Ross M. Starr, 2012. "Why is there Money?," Books, Edward Elgar Publishing, number 13763. Full references (including those not matched with items on IDEAS)
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