A carregar...
Publicação
An economic review of the bitcoin production market and resulting externalities
| Nome: | Descrição: | Tamanho: | Formato: | |
|---|---|---|---|---|
| 949.03 KB | Adobe PDF |
Autores
Orientador(es)
Resumo(s)
This paper reviews the existing economic theory on Bitcoin (BTC) production,
analyzes the Bitcoin production market – as well as the associated externalities of
the Bitcoin production process. It discusses how the underlying incentive
mechanism further a competitive arms race that not only contradicts the
philosophy of the underlying consensus scheme but results in an artificially high
level of production demand that imposes significant damages onto society.
Descrição
Palavras-chave
Bitcoin Blockchain Production externalities Cryptocurrency mining