Czym jest Bitcoin?

• Authors: Arkadiusz Sieroń

Title variants

EN

What is Bitcoin?

• Languages of publication: PL

Abstracts

EN

The aim of this paper is to answer the question of what — from an economic point of view — is Bitcoin. For this purpose, we make a literature review, discussing different views on the subject. Using the typology of money developed by Mises, we find that Bitcoin is a private fiat money, without, however, disproving the regression theorem. Based on the analysis, we conclude that the gold, which is a commodity money, would be a better candidate to serve as a global medium of exchange in a free market. Thus, we see the future of Bitcoin in payment system allowing to make low-cost, relatively anonymous and secure transactions, especially the foreign ones.

Keywords

EN

theory of money; private fiat money; Bitcoin

• Publisher: Wydawnictwo Uniwersytetu Wroclawskiego
• Journal: Ekonomia. Wrocław Economic Review
• Year: 2013
• Volume: 19
• Issue: 4
• Pages: 31 - 51

Contributors

author

Arkadiusz Sieroń