BITCOIN 1, BITCOIN 2,..: AN EXPERIMENT IN PRIVATELY ISSUED OUTSIDE MONIES

Rodney Garratt; Neil Wallace

doi:10.1111/ecin.12569

BITCOIN 1, BITCOIN 2,.. AN EXPERIMENT IN PRIVATELY ISSUED OUTSIDE MONIES

Rodney Garratt, Neil Wallace

Economics

Research output: Contribution to journal › Article › peer-review

13 Scopus citations

Abstract

The value of bitcoin depends upon self-fulfilling beliefs that are hard to pin down. We demonstrate this for the case where bitcoin is the only form of money in the economy and then generalize the message to the case of multiple bitcoin clones and/or a competing fiat currency. Some aspects of the indeterminacy we describe would no longer hold if bitcoin were an interest-bearing object. (JEL D50, E42).

Original language	English (US)
Pages (from-to)	1887-1897
Number of pages	11
Journal	Economic Inquiry
Volume	56
Issue number	3
DOIs	https://doi.org/10.1111/ecin.12569
State	Published - Jul 2018

All Science Journal Classification (ASJC) codes

Business, Management and Accounting(all)
Economics and Econometrics

Access to Document

10.1111/ecin.12569

Cite this

@article{d3cdbdb9a9ed4fa09e4d8e7b08b87de8,

title = "BITCOIN 1, BITCOIN 2,..: AN EXPERIMENT IN PRIVATELY ISSUED OUTSIDE MONIES",

abstract = "The value of bitcoin depends upon self-fulfilling beliefs that are hard to pin down. We demonstrate this for the case where bitcoin is the only form of money in the economy and then generalize the message to the case of multiple bitcoin clones and/or a competing fiat currency. Some aspects of the indeterminacy we describe would no longer hold if bitcoin were an interest-bearing object. (JEL D50, E42).",

author = "Rodney Garratt and Neil Wallace",

note = "Publisher Copyright: {\textcopyright} 2018 Western Economic Association International",

year = "2018",

month = jul,

doi = "10.1111/ecin.12569",

language = "English (US)",

volume = "56",

pages = "1887--1897",

journal = "Economic Inquiry",

issn = "0095-2583",

publisher = "Wiley-Blackwell",

number = "3",

}

TY - JOUR

T1 - BITCOIN 1, BITCOIN 2,..

T2 - AN EXPERIMENT IN PRIVATELY ISSUED OUTSIDE MONIES

AU - Garratt, Rodney

AU - Wallace, Neil

PY - 2018/7

Y1 - 2018/7

N2 - The value of bitcoin depends upon self-fulfilling beliefs that are hard to pin down. We demonstrate this for the case where bitcoin is the only form of money in the economy and then generalize the message to the case of multiple bitcoin clones and/or a competing fiat currency. Some aspects of the indeterminacy we describe would no longer hold if bitcoin were an interest-bearing object. (JEL D50, E42).

AB - The value of bitcoin depends upon self-fulfilling beliefs that are hard to pin down. We demonstrate this for the case where bitcoin is the only form of money in the economy and then generalize the message to the case of multiple bitcoin clones and/or a competing fiat currency. Some aspects of the indeterminacy we describe would no longer hold if bitcoin were an interest-bearing object. (JEL D50, E42).

UR - http://www.scopus.com/inward/record.url?scp=85047950513&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=85047950513&partnerID=8YFLogxK

U2 - 10.1111/ecin.12569

DO - 10.1111/ecin.12569

M3 - Article

AN - SCOPUS:85047950513

SN - 0095-2583

VL - 56

SP - 1887

EP - 1897

JO - Economic Inquiry

JF - Economic Inquiry

IS - 3

ER -

BITCOIN 1, BITCOIN 2,.. AN EXPERIMENT IN PRIVATELY ISSUED OUTSIDE MONIES

Abstract

All Science Journal Classification (ASJC) codes

Access to Document

Other files and links

Fingerprint

Cite this