Decentralizing money: Bitcoin prices and blockchain security

• Main Author: PAGNOTTA, Emiliano Sebastian
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2022
• Subjects: bitcoin; blockchain; cryptocurrencies; volatility; bubbles; mining; asset prices; inflation; decentralization; networks; Finance and Financial Management; Technology and Innovation
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/7010; https://ink.library.smu.edu.sg/context/lkcsb_research/article/8009/viewcontent/SSRN_id3264448.pdf
• Institution: Singapore Management University

We address the determination of bitcoin prices and decentralized security. Users forecast the transactional and resale values of holdings, pricing the risk of systemic attacks. Miners contribute resources to protect against attackers and compete for block rewards. Bitcoin's design leads to mult...