What is bitcoin

Warmke, Craig

doi:10.1080/0020174x.2020.1860123

Cited by 10 publications

(4 citation statements)

References 44 publications

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“…This study, although focusing on opioids, sedatives and GABA drugs, has also drawn attention to wider issues relating to the general online supply of pharmaceutical products, with the Internet remaining largely unregulated, the demand continues to increase due to the ease of access from online sources ( Fittler et al, 2021, Vida et al, 2020. For example, there was detailed knowledge and awareness around utilising technology which made the transactions more difficult to trace, some of which, for example Bitcoin, requiring a reasonable level of knowledge which not all interested consumers might have, particularly those who do not have high levels of Internet proficiency ( Warmke, 2021 ). One participant described how this might be made easier by cryptocurrency machines based within city centres; however, none of the ISOs mentioned these and it is not clear the extent of their use in sourcing online medication.…”

Section: Discussionmentioning

confidence: 99%

Internet sourcing and unsafe use of controlled drugs (opioids, sedatives and GABA drugs) in the UK: An in depth case study of consumer dynamics during COVID-19

Hillis

Germain

Whitfield

et al. 2023

Emerging Trends in Drugs, Addictions, and Health

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Section: Discussionmentioning

confidence: 99%

Internet sourcing and unsafe use of controlled drugs (opioids, sedatives and GABA drugs) in the UK: An in depth case study of consumer dynamics during COVID-19

Hillis

Germain

Whitfield

et al. 2023

Emerging Trends in Drugs, Addictions, and Health

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“…In 2017, Bitcoin was thought to be in a bubble, with investors coughing up a premium to own Bitcoin. The 2017-2018 bubble was essentially led by a boom in initial coin offerings, or ICOs (Haar 2021). There is a view that cryptocurrency volatility is mostly due to the "immature market" conditions in that traders are susceptible to emotions and therefore, extreme market reactions come forth.…”

Section: Literature Reviewmentioning

confidence: 99%

Is Bitcoin a Safe Haven for Indian Investors? A GARCH Volatility Analysis

Murty

Victor

Fekete-Farkas

2022

JRFM

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This paper attempts to understand the dynamic interrelationships and financial asset capabilities of Bitcoin by analysing several aspects of its volatility vis-a-vis other asset classes. This study aims to analyse the volatility dynamics of the returns of Bitcoin. An asymmetric GARCH model (EGARCH) is used to investigate whether Bitcoin may be useful in risk management and ideal for risk-averse investors in anticipation of negative shocks to the market (leverage effect). This paper also examines Bitcoin as an investment and hedge alternative to gold as well as NSE NIFTY using a multivariate DCC GARCH model. DCC GARCH models are also used to check whether correlation (co-movement) between the markets is time-varying, examine returns and volatility spillovers between markets and the effect of the outbreak of COVID-19 in India on the investigated markets. The results show that given the supply of Bitcoin is fixed, low returns realisation is equivalent to excess supply over demand wherein investors are selling off Bitcoin during bad times. The positive co-movement between Bitcoin and gold during the COVID-19 outbreak shows that investors perceived Bitcoin as a relatively safe investment. However, overall analysis shows that Bitcoin was not considered a safe hedge and an investment option by Indian investors during the study period.

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“…Security is of utmost importance for the Bitcoin network and the reason that the Proof-of-Work (PoW) consensus, one of many different types of consensus algorithm [7], was chosen for Bitcoin. Bitcoin miners compete to solve SHA-256 cryptographic hashes (SHA-2 family algorithms were designed by the USA National Security Agency and are used widely beyond Bitcoin, including in the internet SSL/TSL certificates that keep web commerce secure) that give the first miner that correctly guesses the answer to the hash the right to write the next block of information to the globally distributed Bitcoin ledger and receive a bitcoin block reward (see [1,45,46] for accessible Bitcoin overviews). Solving an SHA-256 hash is random, so guessing and checking solutions ensures bitcoin is distributed, proportional to computing power, across the mining industry.…”

Section: Bitcoin Securitymentioning

confidence: 99%

100 Important Questions about Bitcoin’s Energy Use and ESG Impacts

Rudd¹

2022

Challenges

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Bitcoin critics have argued that energy-intensive Bitcoin production and adoption will exacerbate global warming. Conversely, Bitcoin advocates have been dismayed by critics’ apparent lack of willingness to scrutinize Bitcoin’s potential role in helping to improve the economics of renewable energy investments, reduce net emissions from methane venting and flaring, increase electricity grid efficiency, and provide higher-order environmental, social, and governance (ESG) benefits. Given the disparate views, there is a pressing need to identify key knowledge needs regarding Bitcoin’s net energy use, carbon emissions, and direct and indirect ESG impacts. I used a variation on the ‘key questions’ horizon scanning approach to identify 100 questions that, if answered, could help provide credible evidence to support policymakers’, investors’, and research funders’ decision-making on issues relating to the impact of Bitcoin production and adoption. The questions are distributed across 13 themes (ranging from energy use to social impacts). The breadth of knowledge required to answer key questions highlights the need to build research capacity, encourage collaborative cross-sectoral and -disciplinary research, and develop a prioritized research agenda. Defensible evidence for investors, regulators, and policymakers needs to consider Bitcoin’s complex net impacts on energy use and environmental, social, and governance benefits.

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What is bitcoin

Cited by 10 publications

References 44 publications

Internet sourcing and unsafe use of controlled drugs (opioids, sedatives and GABA drugs) in the UK: An in depth case study of consumer dynamics during COVID-19

Internet sourcing and unsafe use of controlled drugs (opioids, sedatives and GABA drugs) in the UK: An in depth case study of consumer dynamics during COVID-19

Is Bitcoin a Safe Haven for Indian Investors? A GARCH Volatility Analysis

100 Important Questions about Bitcoin’s Energy Use and ESG Impacts

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