Template-Type: ReDIF-Article 1.0

Author-Name: Gyöngyi Bugár
Author-Workplace-Name: University of Pécs
Author-Email: bugar.gyongyi@ktk.pte.hu

Author-Name: Márta Somogyvári
Author-Workplace-Name: University of Pécs
Author-Email: somogyvari.marta@ktk.pte.hu

Title: Bitcoin: Digital Illusion or a Currency of the Future?

Abstract: Bitcoin has been one of the most interesting financial innovations in the last ten
years. In this essay, we set out to discover why it has not spread as a medium
of payment and how it has become a high-risk form of investment instead. We
examine the operational mechanisms of bitcoin technology and explain the
ideological background for the popularity of bitcoin. We conclude that, in its
present form, bitcoin is not suitable to become a generally accepted medium of
payment.

Classification-JEL: E42, G10, O31
Keywords: bitcoin, cryptocurrency, blockchain, libertarian economic policy
Pages: 132-153
Volume: 19
Issue: 1
Year: 2020
File-URL: https://en-hitelintezetiszemle.mnb.hu/letoltes/fer-19-1-e2-bugar-somogyvari.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:19:y:2020:i:1:p:132-153