Economic Analysis of Cryptographic Currencies on the Basis of Bitcoin

Inhaltsverzeichnis (Table of Contents)

• Introduction
  • Course of investigation
  • Information on linguistic usage
• The evolution of money
  • Functions of money
    • Medium of exchange
    • Measure of value
    • Store of value
  • Characteristics of money
  • Creation of money
    • The European Central Bank
    • Money creation by commercial banks
• The concept of cryptocurrencies
• The infamous Bitcoin
  • History
  • How Bitcoin works
    • Double spending
    • Creation of Bitcoins
      • Difficulty
      • Mining
        • Solo Mining
        • Pool Mining
        • Time and costs
        • Revenue by mining
      • Alteration of the Bitcoin protocol
  • Characteristics of Bitcoin
    • Transaction security
    • Transaction fees
    • Storage security
    • Counterfeit protection
    • Anonymity
    • Irreversible payments
    • Volume of bitcoins
  • Forms of trading with Bitcoin
    • Wired transfer
    • Near Field Communication (NFC)
    • QR-Code
    • Coins
    • Debit cards
  • How to acquire bitcoins
    • Bitcoin exchanges
    • Mining
    • ATM machine
    • Donations
    • Businesses accepting bitcoins
• SWOT analysis
  • Strengths
  • Weaknesses
    • Volatility
    • Supply shortage
    • Energy Consumption
  • Opportunities
    • Independent online payments
    • Micropayments
    • Developing countries
  • Threats
    • Crime
      • Silk Road
      • Money laundering
      • Botnet
    • Risks
      • Risk of loss
      • Risk of prohibition
      • 51% Attack
      • Niche currency
• Classification of bitcoin
  • Taxation
  • Comparative Analysis
• Theory of speculative bubbles
  • Dutch tulip mania
  • Digital gold fever
• Scenario Analysis
• Discussion
  • Matter of trust
  • The great scheme
  • The evil Bitcoin
  • The question of questions
  • Deflation versus Inflation

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This thesis aims to provide an economic analysis of cryptographic currencies, with a specific focus on Bitcoin. The research delves into the evolution of money, examining its functions and characteristics, and then explores the concept of cryptocurrencies, particularly Bitcoin. The thesis analyzes Bitcoin's historical development, its technical workings, and its economic characteristics.

• Evolution of money and its functions
• The emergence and concept of cryptocurrencies
• Economic analysis of Bitcoin, including its technical aspects and characteristics
• Evaluation of Bitcoin's strengths, weaknesses, opportunities, and threats
• Discussion of the classification and speculative nature of Bitcoin

Zusammenfassung der Kapitel (Chapter Summaries)

The introduction lays out the course of investigation and clarifies the linguistic usage employed throughout the thesis. Chapter 2 delves into the evolution of money, exploring its functions and characteristics, including the creation of money by central banks and commercial banks. Chapter 3 introduces the concept of cryptocurrencies, providing a general overview of this emerging financial system. Chapter 4 examines the infamous Bitcoin, its history, how it works, and its key characteristics. Chapter 5 undertakes a comprehensive SWOT analysis of Bitcoin, outlining its strengths, weaknesses, opportunities, and threats. Chapter 6 discusses the classification of Bitcoin, including its taxation and a comparative analysis with other currencies. Chapter 7 explores the theory of speculative bubbles, using historical examples like the Dutch tulip mania and drawing parallels to the current Bitcoin phenomenon. Chapter 8 provides a scenario analysis of potential future developments related to Bitcoin. Chapter 9 delves into a discussion of key issues surrounding Bitcoin, including trust, its potential for manipulation, and its ethical implications.

Schlüsselwörter (Keywords)

Cryptographic currencies, Bitcoin, digital money, decentralized finance, blockchain technology, mining, transaction security, volatility, speculative bubble, financial innovation, economic analysis, SWOT analysis.