Abstract
Although Bitcoin was designed as a payment vehicle and as a store of value, it seems unlikely that currencies provided by central banks are at risk of being replaced, primarily because of the market price instability of Bitcoin. We diagnose the instability as being a symptom of the lack of flexibility in the Bitcoin supply schedule - a predetermined algorithm
| Original language | English |
|---|---|
| Pages (from-to) | 41-60 |
| Number of pages | 20 |
| Journal | Hitotsubashi Journal of Economics |
| Volume | 60 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 2019 Jan 1 |
ASJC Scopus subject areas
- Business, Management and Accounting(all)
- Economics and Econometrics
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Iwamura, M., Kitamura, Y., Matsumoto, T., & Saito, K. (2019). Can we stabilize the price of a cryptocurrency? Understanding the design of bitcoin and its potential to compete with central bank money＊. Hitotsubashi Journal of Economics, 60(1), 41-60. https://doi.org/10.15057/30361