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Dissertations / Theses on the topic 'Cryptocurrency'
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Ninichuk. "CRYPTOCURRENCY." Thesis, Київ 2018, 2018. http://er.nau.edu.ua/handle/NAU/33823.
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Busato, Beatrice <1995>. "Cryptocurrency." Master's Degree Thesis, Università Ca' Foscari Venezia, 2022. http://hdl.handle.net/10579/21907.
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Cryptocurrency has become an important topic in the financial industry, which seeks to determine its impact in current transaction spaces. This study is focused on the analysis of the cryptocurrency market taking into consideration cryptocurrencies of the Bitcoin family (BTC, BSV), Ethereum family (ETC, ETH), Dogecoin, and Litecoin. The objective of this study is to better understand the distributed ledger and how it works in real or simulated environments. In particular, this study targets a natural question that regards whether cryptocurrency time series exhibit similar behavior to other assets with an emphasis on technical and fundamental analysis applied to cryptocurrencies. Cryptocurrency prices are purely driven by the demand-supply model and are characterized by very high volatility and the absence of any regulatory authority. Therefore, forecasting cryptocurrency prices represents a challenge. Though, this study aims to forecast future returns using time series models such as ARIMA and GARCH. The data considered are historical as well as real-time prices, volumes and flows, retrieved from public domain platforms and analyzed through time series models along with other fundamental and technical approaches and indicators using RStudio and Python.
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Gomachas, Roswitha Mildred Melina. "Cryptocurrency intermediation in Africa: towards a regulatory framework for cryptocurrency intermediaries." University of the Western Cape, 2019. http://hdl.handle.net/11394/6836.
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Magister Legum - LLMThere is a lot of speculation regarding potential benefits that the adoption of cryptocurrency use and cryptocurrency intermediation may have for the African continent due to the macro-economic instability of African financial markets caused by hyperinflation; high rate of unbanked populations; and the need for an alternative currency to the weak; and sometimes unavailable and unreliable African fiat money. Preiss notes that the intangible nature of cryptocurrency means that governments have no access to such cryptocurrency and cannot physically remove wealth from the citizens. He further notes that cryptocurrency not only provides a solution to the unbanked but is also a method of allowing economically and politically subjugated populations to control their wealth. Cryptocurrency intermediation in the form of cryptocurrency remittance services have been established in Africa as an alternative to Western Union, MoneyGram and many others. Examples include cryptocurrency remittance and transfer services provided by cryptocurrency-based intermediaries, which are third parties facilitating cryptocurrency related transactions, and in some cases provide storage of cryptocurrency to their users. In Africa, examples of such cryptocurrency-based intermediaries include, such as BTCGhana; BitPesa and Belfrics.
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Tigerström, Viktor. "Micropayments through cryptocurrency mining." Thesis, Uppsala universitet, Institutionen för informatik och media, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-303357.
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The monetary policies of states and systems built upon them do not naturally allow transactions of a very small value, as the transaction costs exceeds the actual value of the transaction. These types of transactions are called micropayments. This is problematic as it removes the possibility to monetize content that has a valuation that is so low that the costs of the transaction exceeds the value of the content. In this thesis we aim to create a system that allows micropayments to monetize low value content. We do so by developing a design theory based on Gregor and Jones conceptual model for design theories within Information Systems research. The system that we develop will use the end users computational power to generate a value, by running a cryptocurrency miner. We present the background knowledge required to fully understand the presented design theory. Within the design theory, we present a theoretical framework to base systems on that enables micropayments through cryptocurrency mining. We also present a developed proof of work prototype that proves the validity of the theoretical framework. Lastly we discuss our design theory. We conclude that the design theory enables transactions of a very low value, such as 0,0001 \$ cents. Transactions of such small value is not possible with systems built upon states monetary policies. We also conclude that the proposed design theory can be further developed to function independently of cryptocurrency mining. Instead the value for the transaction could be generated through solving complicated problems if institutions are willing to pay for computational power to solve them.
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Hill, Austin. "Bitcoin: Is Cryptocurrency Viable?" Scholarship @ Claremont, 2014. http://scholarship.claremont.edu/cmc_theses/902.
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Bitcoin, a virtual currency invented in 2009, was created as a peer-to-peer currency that eliminated the need for a third party authority, such as banks or government, to be involved in monetary transactions. Having no intrinsic value but carrying no government guarantees relegates bitcoin and its competitors to the perpetual role of investment opportunity, deriving value not from a practical use, but from a nominal, dollar value. This will continue to be the case until the U.S. Government sanctions virtual currency as a viable store of value. Because the dollar plays such a large role in the world’s economy, other countries will not adopt virtual currency technology unless the U.S. does so first. Substantial populations around the world must embrace bitcoin as a significant source of value before any monetary authority will relinquish the power associated with fiat currency. There are, however, many aspects of the virtual-currency model created by bitcoin that could be useful in improving the efficiency of money movement around the United States and the globe, through transaction memory, low transaction cost, and secure account information.
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Gregory, Daniel. "Cryptocurrency and its forensic significance." Thesis, Gregory, Daniel (2018) Cryptocurrency and its forensic significance. Masters by Coursework thesis, Murdoch University, 2018. https://researchrepository.murdoch.edu.au/id/eprint/42681/.
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Cryptocurrency is a relatively new form of investment. Its concept was first introduced in 2009, and has grown ever since. To this day, there are thousands of cryptocurrencies. Just as other currencies, cryptocurrency can be related to a crime. Ever since its introduction nearly a decade ago, there have been crimes where cryptocurrency are related. According to ACIC’s crime types, cryptocurrency are related to two crime categories: cybercrime, and illicit drugs. There are also other cases where the type of crimes is not listed as a part of ACIC’s. In response to the crimes that have occurred throughout the years, several governments have moved to establish laws regarding cryptocurrency. Some governments chose to ban cryptocurrency completely, whereas others opted for regulation.
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Serra, Rodrigo Moreira. "Cryptocurrency price forecasting : an empirical application." Master's thesis, Instituto Superior de Economia e Gestão, 2020. http://hdl.handle.net/10400.5/21015.
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Mestrado em Econometria Aplicada e PrevisãoA presente dissertação é desenvolvida no âmbito dos modelos Autorregressivo Integrado de Médias Móveis (ARIMA) e de Alisamento Exponencial, tendo como principal objetivo realizar uma comparação de métodos de previsão. Em particular, as previsões serão feitas usando essas diferentes classes de métodos e serão realizados exercícios de validação cruzada para encontrar o modelo de previsão mais adequado. O objeto de estudo serão ativos financeiros; especificamente, cinco criptomoedas (criptoativos) - Bitcoin, Ether, Litecoin, XRP e Bitcoin Cash - escolhidas com base na sua importância e representatividade. Os dados de preços utilizados são semanais. Foram apresentados os testes a ser efetuados ao logaritmo dos preços e dos retornos de cada criptomoeda, de modo a provar que se cumprem alguns factos estilizados das séries financeiras. Após a demostração dos resultados dos testes e da caracterização de cada ativo, é feita uma demonstração do código de R utilizado durante o trabalho. Os modelos que demonstraram ser mais adequados para prever os preços das criptomoedas em análise foram ARIMA de diferentes ordens, para cada ativo.
This dissertation is developed within the scope of the Autoregressive Integrated Moving Average (ARIMA) and Exponential Smoothing models, with the main objective of comparing forecasting methods. In particular, forecasts will be made using these different classes of methods and cross-validation exercises will be performed to find the most suitable forecast model. Financial assets will be object of study; specifically, five (crypto) cryptocurrencies - Bitcoin, Ether, Litecoin, XRP and Bitcoin Cash - chosen based on their importance and representativity. The price data used are weekly. The tests to be carried out on the cryptocurrency's logarithm of prices and returns were presented, in order to prove that some stylized facts of the financial series are fulfilled. After showing the test results and the characterization of each asset, a demonstration of the R code used during the work is done. The models that proved to be more adequate to predict the prices of the cryptocurrencies under analysis were ARIMA models of different orders, for each asset.
info:eu-repo/semantics/publishedVersion
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Choi, Jae Sung. "Size Effect in the Cryptocurrency Market." Scholarship @ Claremont, 2018. http://scholarship.claremont.edu/cmc_theses/1927.
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This paper shows the existence of the size effect in the cryptocurrency market. The size effect is a market phenomenon observed in the stock market in which smaller assets outperform larger assets. Recent literature has revealed the size effect in other financial markets as well. In order to explain the size effect, this paper proposes a general quantitative theory that supports its existence in any financial markets under specific conditions. Furthermore, the paper tests for the size effect in the cryptocurrency market using daily price data from April 2013 to April 2018. The paper finds a statistically significant size effect across the cryptocurrency market during the sample period. In the process, we test a profitable pair-trading strategy that involves opening a short position on the higher rank (larger assets) and opening a long position on the lower rank (smaller assets) of the cryptocurrency market. Based on our findings, we discuss the implications on modern finance, specifically on the subjects of Efficient Market Hypothesis and asset pricing models.
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Hajare, Neel(Neel A. ). "Pricing and arbitrage in cryptocurrency markets." Thesis, Massachusetts Institute of Technology, 2018. https://hdl.handle.net/1721.1/121626.
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This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.Thesis: M. Eng., Massachusetts Institute of Technology, Department of Electrical Engineering and Computer Science, 2018
Cataloged from student-submitted PDF version of thesis.
Includes bibliographical references (pages 149-154).
Cryptocurrencies have garnered an increasing amount of attention and grown dramatically in value. Like financial assets, they are traded continuously across a number of exchanges. This thesis presents the design and implementation of a system for real-time data collection of pricing and trading activity for four cryptocurrencies across three exchanges. Using the data collected for the US Dollar to cryptocurrency order books from May 4, 2018 to May 9, 2018 we find that arbitrage opportunities exist in 0.03% to 40.38% of five-second intervals depending on the specific cryptocurrency and exchanges considered. Analysis of the signed trading volume shows that trading behavior differs in the presence of these arbitrage opportunities, but we find only weak evidence suggesting that market participants actively exploit such opportunities on sub-minute timescales.
by Neel Hajare.
M. Eng.
M.Eng. Massachusetts Institute of Technology, Department of Electrical Engineering and Computer Science
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Dang, Trung <1996>. "Investor Sentiment in the Cryptocurrency Market." Master's Degree Thesis, Università Ca' Foscari Venezia, 2020. http://hdl.handle.net/10579/18284.
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In recent years, a novel alternative asset class called cryptocurrencies has captured significant attention from financial practitioners and academia. Cryptocurrencies generally lack quantifiable fundamentals that underpin their valuations, causing the asset class to become a prime target affected by sentiment and other behavioral factors. The purpose of this thesis is to investigate the relationship between the price dynamics of cryptocurrencies and investor sentiment. The study selected several measures of sentiment, which can be categorized into two groups: direct and indirect measures. While direct proxies are sentiment information extracted from social media and media platforms using sentiment analysis, indirect measures are other commonly-cited sentiment indicators. The initial analysis results show strong pairwise correlations between these measures, making it conceptually appealing to extract a common component that could be interpreted as an aggregated sentiment index. The index later proves to be a good predictor of cryptocurrency market returns, indicating that behavioral biases might play a significant role in the decision-making process of cryptocurrency investors.
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Signorile, Davide <1995>. "Neural Networks for Cryptocurrency Price Forecasting." Master's Degree Thesis, Università Ca' Foscari Venezia, 2022. http://hdl.handle.net/10579/21150.
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Questo elaborato si concentra sull'applicazione di tecniche di machine learning a serie storiche finanziarie.
L'oggetto d'analisi è bitcoin, una cryptovaluta che, soprattutto nell'ultimo anno, sta ricevendo sempre più attenzione da parte dei piccoli e grandi investitori.
Le tecniche di machine learning utilizzate, facenti capo all'ampia categoria dell'intelligenza artificiale, sono le reti neurali artificiali. Nello specifico, in questo lavoro, vengono utilizzate le reti neurali ricorsive di tipologia LSTM, più adatte rispetto alle altre tipologie di reti quando si tratta di analizzare serie storiche, ovvero un insieme di dati aventi dipendenza temporale.
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Palomba, Marilena. "Stochastic Volatility Jump Models for Cryptocurrency Option Pricing." Master's thesis, Alma Mater Studiorum - Università di Bologna, 2021. http://amslaurea.unibo.it/23077/.
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Le criptovalute stanno acquisendo straordinaria importanza come asset finanziari nell'economia contemporanea. Le loro caratteristiche rivoluzionarie, l'innovativa struttura sottostante e la crescente capitalizzazione incentivano lo studio del mercato delle criptovalute. Anche se la ricerca è ancora limitata, l'effettiva disponibilità di opzioni e futures negoziati su piattaforme di scambio indipendenti incoraggia la costruzione e la formalizzazione di un mercato apposito.
Vista la mancanza di una regolamentazione centrale e l'assenza di opzioni ufficialmente negoziate sul mercato, comprendere la peculiare evoluzione del prezzo delle criptovalute è essenziale per lo sviluppo di un mercato per gli strumenti derivati.
In questa tesi, proponiamo un meccanismo basato sul modello a volatilità stocastica (SVCJ) proposto da Duffie, Pan e Singleton (2000) per la simulazione dell'andamento dei prezzi delle criptovalute. Viene proposta una calibrazione del modello tramite l'utilizzo dei dati storici relativi al prezzo dei Bitcoin (BTC). I risultati delle analisi svolte corroborano l'ipotesi iniziale, ossia che il modello SVCJ risulta essere una scelta ragionevole per simulare le dinamiche di prezzi e ritorni dei BTC.
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Vyalkova, V. V. "Cryptocurrency market in Ukraine and its legality. Karbowanet." Thesis, Sumy State University, 2018. http://essuir.sumdu.edu.ua/handle/123456789/67022.
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Ukrainian modern consumers are particularly in need of safe and
untraceable currency transactions without intermediaries and influence of
government. Moreover, people need to be sure that monetary unit value is
not dependable of the political situation in the country. Karbowanets is the
new national cryptocurrency, which meets these needs. Now the question
of its status is not resolved as the National Bank of Ukraine has not created
any legislative acts, so there is the situation of uncertainty.
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Andersson, Carl-Johan. "Evaluating Cross-chain Settlement and Exchange in Cryptocurrency." Thesis, Umeå universitet, Institutionen för datavetenskap, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-165163.
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While Bitcoin is beginning to cement it's core protocol and principles, the related technologies around it, such as atomic swaps and lightning network could still be considered to be in an infant state when it comes to understanding and development. In this thesis you will find atomic swaps being evaluated in depth, both off-chain and on-chain together with reasoned and somewhat wel ldefined standards and protocols on how atomic swaps should be performed in the future.
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Bruno, Marco <1989>. "Le Cryptocurrency: un’analisi puntuale e prospettica sul criptomondo." Master's Degree Thesis, Università Ca' Foscari Venezia, 2018. http://hdl.handle.net/10579/13068.
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Ormai è quasi un decennio che si parla di Criptovalute come una possibile alternativa alla finanza tradizionale. Nate proprio dalla grande crisi finanziaria del 2008, la quale ha mostrato i gravi problemi che versa il sistema monetario e finanziario tradizionale. Bitcoin è stata la capostipite dell’universo del criptomondo, la quale ha aperto le porte per tutti gli altri Altcoin. In realtà, tutte queste valute elettroniche hanno proprietà diverse l’una dall’altra, ma che hanno in comune il carattere tecnologico tipico del criptomondo, ossia: disruptive.
Nel corso degli anni ne sono nate molte altre, fino ad arrivare circa a 1600 valute digitali, per una capitalizzazione di mercato pari a: $ 600 miliardi a fine gennaio 2018.
In questo elaborato verrà illustrato il criptomondo, partendo dalle origini della moneta, fino ad arrivare ai giorni nostri. In particolare, verranno studiate ed analizzate cinque di queste valute digitali, quelle tra le più rilevanti del criptomondo. Lo studio verterà sia a livello tecnico/tecnologico che a livello economico e non da ultimo normativo, cercando ogni volta di compararle l’una dall’altra. Come si vedrà nell’elaborato, la vera rivoluzione tecnologica è rappresentata dalla Blockchain, la quale è stata presa in esame anche dalle grandi multinazionali.
Infine, la tesi avrà lo scopo di leggere in chiave prospettica, quali sviluppi potranno esserci nel prossimo futuro.
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Moreni, Matilde <1994>. "Prediction of Cryptocurrency prices using Gradient Boosting machine." Master's Degree Thesis, Università Ca' Foscari Venezia, 2020. http://hdl.handle.net/10579/17739.
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The Gradient Boosting is a machine learning approach that is widely used due to its high performance and accuracy. The aim of this thesis is find out how good is the performance of Gradient Boosting applied to the price forecasting of Cryptocurrencies and then to flat currencies. The thesis is developed in three sections, the first is an overview of the Cryptocurrencies 's world, the second is an explanation of how Decision trees works and a mayor focus on Gradient Boosting. The last section is the practical part, where there is the application of Gradient Boosting to the price forecasting of cryptocurrencies and then the application of the same algorithm to flat currencies. The aim is to find out if the performance of Gradient Boosting is better for cryptocurrencies forecasting or flat currencies.
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Letra, Ivo José Santos. "What drives cryptocurrency value? A volatility and predictability analysis." Master's thesis, Instituto Superior de Economia e Gestão, 2016. http://hdl.handle.net/10400.5/12556.
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Mestrado em Decisão Económica e EmpresarialEsta tese descreve como as moedas digitais se tornaram no novo fenómeno nos mercados financeiros e como a mais popular das moedas digitais - Bitcoin - originou perguntas cruciais sobre o seu valor e como ao mesmo tempo as suas séries financeiras criaram uma oportunidade para estudar várias dinâmicas sobre o preço, que tipicamente estão fortemente ligadas a movimentos especulativos e sem análise fundamental. Com a utilização de um modelo GARCH(1,1) sobre dados diários e centrando-se em dois fenómenos recentes - moedas digitais, nomeadamente Bitcoin e conteúdo web oriundo do Google Trends, Wikipedia e Twitter - verificámos que os retornos da Bitcoin são fortemente impulsionados pela sua popularidade. Assim, analisando este relacionamento e modelando a existência de variâncias condicionais heterocedásticas demonstramos que o conteúdo proveniente de motores de busca e redes sociais e a flutuação nos preços Bitcoin estão intensamente ligados e que esta relação exibe alguma previsibilidade.
This thesis describes how digital currencies have rose as a new interesting phenomenon in the financial markets and how the most popular of the digital currencies - BitCoin - have risen crucial questions about their exchange rates and also represents a field to study the dynamics of this market, which is strongly connected with speculative traders with no fundamentals as there is no fundamental value to the currency. Using a GARCH(1,1) model on daily data and focusing on two emerging phenomena of recent years - digital currencies, particularly Bitcoin, and web content provided by search queries on Google Trends and Wikipedia and tweets from Twitter - we discover that Bitcoin returns are driven primarily by its popularity. Thus, we analyze their relationship, the existence of volatility clustering and demonstrate that the web content and Bitcoin prices are connected and they exhibit some predictable power.
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Schmid, Philipp, and Sabine Houy. "Investigating Security Aspects of Cryptocurrency Wallets - a Systematic Study." Thesis, Högskolan i Halmstad, Akademin för informationsteknologi, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:hh:diva-44798.
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Cryptocurrencies are gaining prominence among individuals and companies alike, resulting in the growing adoption of so-called cryptocurrency wallet applications, as these simplify carrying out transactions. These wallets are available in a myriad of different forms and specifications. For example, there are hardware and software wallets. The latter can be divided into mobile, web, and desktop wallets. All of them offer attackers various ways to exploit vulnerabilities and steal money from victims. It is hard to keep track of this multitude of options and thus choose the right cryptocurrency wallet. For this reason, in this thesis, we collect the findings from previous literature to provide an overview of the various attack surfaces, possible countermeasures, and further research. Our systematic study has shown that there is still a considerable variety of attack vectors, which we have divided into six subcategories, (i) Memory and Storage, (ii) Operating Systems, (iii) Software Layer, (iv) Network Layer, (v) Blockchain Protocol, and (vi) Others. Some of the identified vulnerabilities have currently no solutions at all or hardly applicable countermeasures. However, some are easy to fix and simple to implement. One of the essential measures is to raise awareness of the identified weaknesses and the associated mitigations, if any, among the involved stakeholders, including users, developers, and exchanges.
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Burggraf, Tobias [Verfasser], Markus [Gutachter] Rudolf, and Mei [Gutachter] Wang. "Essays in cryptocurrency / Tobias Burggraf ; Gutachter: Markus Rudolf, Mei Wang." Vallendar : WHU - Otto Beisheim School of Management, 2021. http://d-nb.info/1240764332/34.
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Kendric, Hood A. "Improving Cryptocurrency Blockchain Security and Availability Adaptive Security and Partitioning." Kent State University / OhioLINK, 2020. http://rave.ohiolink.edu/etdc/view?acc_num=kent1595038779436782.
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Liljeström, Oskar. "Efficiency of cryptocurrency exchanges : Risk exposure analysis of identical assets." Thesis, Högskolan Kristianstad, Fakulteten för ekonomi, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:hkr:diva-20048.
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The cryptocurrency market is continuously growing but is still a relatively unexplored field within academic research. The ambition with this thesis is to increase existing research on market efficiency of cryptocurrencies, by studying the risk exposure of identical investments between different cryptocurrency exchanges. The study includes four cryptocurrencies and nine different exchanges, the data is tested on a full sample period and two subsample periods. The results reveal significant Sharpe ratio differences for identical investments on selected exchanges, but also improved efficiency between the first and second subsample periods. The study concludes that there are significant market inefficiencies on the cryptocurrency market, but the results also suggests that the market is becoming more efficient over time.
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Abdi, Brittemira. "Is Bitcoin here to stay?- A case study on cryptocurrency, Bitcoin." Thesis, KTH, Fastigheter och byggande, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-146881.
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Begreppet pengar har funnits sedan vi började använda varor och råvaror som betalningsmedel. I tusentals år har människor tagit för vana att använda pengar till att handla med varor och tjänster. Utvecklingen av pengar som ett verktyg för handel började med användandet av kakao frön, snäckor och andra föremål som ansågs värdefulla, som sen har utvecklats till användningen av ädla metaller, som guld och silver. Under de senaste århundradena har vi använt fiat valuta och nu, med utvecklingen av Internet, kan vi vara på väg in i nästa steg i utvecklingscykeln av pengar. In kommer Bitcoin, som är den första decentraliserade digitala valuta som använder kryptering. Syftet med denna uppsats är att undersöka de positiva och negativa aspekterna av Bitcoin, och kommer att undersöka hur framtiden ser ut för uppfinningen av denna. kryptovaluta.The concept of money has been around since we started using goods and commodities as means of payment. So for thousands of years people have been used to trading goods and services for money. The evolution of money as a tool for exchange started out with people using cocoa seeds, shells and other precious objects, that progressed into the use of precious metals, such as gold and silver. In recent centuries we have found ourselves using fiat currency and now, with the evolution of the Internet, we might be on the verge of the next step in the evolution cycle of money. Enter Bitcoin, which is the first decentralised digital currency that uses cryptography. The purpose of this thesis is to explore the positive and negative aspects of Bitcoin so far, and will investigate what the future might hold for the invention of this cryptocurrency.
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Wang, Zehong. "Essays on efficiency, hedging effectiveness, and volatility dynamics in cryptocurrency markets." Thesis, University of Bath, 2018. https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.761018.
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This thesis contains four chapters. The first chapter introduces the background of the Bitcoin platform. The second chapter examines whether Bitcoin market is efficient by considering intra-day open, high, low and close prices. The third chapter examines the dynamic relationship between Bitcoin and Litecoin in both short run and long run by employing VARX-MGARCH-Mean model. The spillover effects are significant in both direction. For the examined time period, the covariance between Bitcoin return and the Litecoin return is not stable in the long run. The last chapter examines the hedging capability of Bitcoin and Litecoin as a cryptocurrency portfolio. Results suggest Bitcoin and Litecoin have hedging capability against some financial assets.
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Ernstzen, Cedrine Veanca. "Regulating a pseudonym: Namibia's regulatory response to cross-border Cryptocurrency transactions." Master's thesis, Faculty of Law, 2021. http://hdl.handle.net/11427/32706.
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In 2008 the world witnessed a transformational shift in its financial services with the introduction and subsequent adoption of cryptocurrencies. The self-regulatory nature of cryptocurrencies is an attractive feature for its users. Unfortunately, this feature is equally as attractive for criminal use. It is for this reason that in 2018 the Financial Action Task Force amended its regulatory Recommendations to extend the obligations of anti-money laundering and combating the financing of terrorism to cryptocurrency service providers and users. In turn, jurisdictions such as the European Union have amended their anti-money laundering laws to give the Recommendations effect. However, cryptocurrency transactions are presently unregulated in Namibia, despite the country also being a member state of the Financial Action Task Force. Namibia's concerns surrounding cryptocurrencies are in no way limited to their ability to corrupt the integrity of its financial industry, but also their ability to evade Namibia's capital and exchange controls. These controls preserve Namibia's foreign reserves which can theoretically be under threat by pseudonymous cross-border cryptocurrency transactions. Consequently, the imminent threat which these transactions pose, in their current form void of regulation, can arguably be quantified by their lack of transparency, accountability, and their jurisdictional concerns. Notably, cryptocurrencies have the ability to lower the entry level for financial inclusion and have the potential to propel Namibia's economic growth if cultivated correctly. Therefore, this dissertation examines whether the licensing of cryptocurrency service providers within Namibia can remedy the ills that plague cross-border cryptocurrency transactions, in order to safeguard the integrity of Namibia's financial industry and ensure the preservation of its foreign reserves without stifling innovation.
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Comis, Edoardo <1995>. "Reinforcement Learning for financial trading: an application to the cryptocurrency market." Master's Degree Thesis, Università Ca' Foscari Venezia, 2021. http://hdl.handle.net/10579/20278.
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Le analogie del trading online di criptovalute online con il mercato finanziario non mancano: così come per gli investimenti in azioni, il trader spera di realizzare un profitto rivendendo o riacquistando i beni in suo possesso ad un prezzo più vantaggioso rispetto a quello dell'operazione precedente.
Il Machine Learning e le tecniche ad esso correlate hanno compiuto progressi significativi negli ultimi anni. Molti ricercatori hanno basato i loro sforzi sull'applicazione del Machine Learning e delle tecnologie ad esso correlate ai mercati finanziari sin dall'inizio della ricerca sull'apprendimento automatico.
L'obiettivo di questa tesi è capire se un metodo di analisi efficiente (reinforcement learning) per il trading in borsa può essere applicato con buoni risultati anche sul mercato delle criptovalute.
Nel primo capitolo di questa tesi, presenteremo prima le criptovalute, la loro storia e la loro importanza ai giorni nostri, allacciandosi poi al fenomeno sempre più in espansione del trading online.
Nel secondo capitolo affronteremo la teoria alla base del machine learning entrando nel dettaglio dell'apprendimento per rinforzo: analizzeremo le caratteristiche principali e inizieremo ad esporre le tecniche e la struttura degli algoritmi SARSA e Q-Learning.
Entrambi gli algoritmi sono stati implementati in ambiente MATLAB ed esposti nel terzo capitolo presentando un'applicazione pratica dell'algoritmo ottenuto dalla teoria proposta.
Nel quarto capitolo, i risultati saranno presentati e commentati in dettaglio.
Infine, nel quinto ed ultimo capitolo riassumeremo le principali osservazioni fornendo conclusioni e spunti per ricerche future.
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URAS, NICOLA. "Cryptocurrency Price Prediction Improvements Through Artificial Intelligence and Model Features Refinement." Doctoral thesis, Università degli Studi di Cagliari, 2022. http://hdl.handle.net/11584/330469.
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Time series forecasting has always been one of the most investigated scientific areas and this is probably due to the large amount of fields involving a time component including, meteorology, finance, econometric, astronomy, earthquake prediction, just to mention a few.
The present work studies the field of financial time series forecasting, mainly focusing on the Cryptocurrency market.
This field poses very sophisticated problems for several reasons. Due to its recent birth, this market has a dynamic nature continuously giving rise to new cryptocurrencies leading to frequent and sudden variations in their prices.
Cryptocurrencies are virtual currencies based on an innovative technology known as Blockchain. As a consequence, their economy, along with traditional macroeconomic variables, depends on technology variables that can be directly measured from the Blockchain platform.
All this features lead to high volatility in cryptocurrency prices.
At the same time, the analysis of a market whose price behaviour is still largely unexplored has a fundamental impact not only in the scientific field but also within economic and financial fields, serving as a source of information for speculators and investors.
The two main approaches used to study this research topic are traditional econometric methods and artificial intelligence algorithms.
The purpose of the present work is to study an innovative approach, based on the techniques described above, to gain relevant insights in order to enrich the state-of-the-art in the field of cryptocurrency time series forecasting.
This study started with a regression forecasting problem of cryptocurrency time series prices where the main goal was to compare the results obtained through traditional econometrics models with those obtained using state-of-the-art artificial intelligence algorithms.
Consequently, classification problems were conducted with the aim of predicting cryptocurrency price changes and verifying that the addition of technical analysis features to the dataset can lead to an effective improvement in the prediction of cryptocurrency price movements.
Cryptocurrencies arouse keen interest not only in the scientific and financial fields but also within social media communities, making the analysis of their price beahviours one of the most discussed topics of the last fiew years. Several are also the studies that tried to use online information, including social media topics discussions, to predict cryptocurrencies price changes, proving the existence of possible cause-effect relationships between the cryptocurrency price changes and online information.
These considerations led to the development of a study based on identifying and modeling relationships between cryptocurrencies market price changes and topic discussion occurrences on social media.
This analysis is a further confirmation on how the addition of social variables to the dataset lead to an effective improvement on cryptocurrency price prediction.
For this reason we decided to conduct a deeper investigation on whether developers emotions can effectively provide insights that can improve the prediction of cryptocurrency prices.
This approach proved how the progressive addition of variables of different sources allows the development of more accurate cryptocurrencies prediction models.
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Lisle, Lily. "Currency Sovereignty in the Future: Cryptocurrency Policy in the US and China." Scholarship @ Claremont, 2018. http://scholarship.claremont.edu/scripps_theses/1110.
Full textAbstract:
Why are the US and China regulating cryptocurrency? This paper first uses linear regression to model the relationship between the US dollar and Bitcoin, and separately, the Chinese Renminbi and Bitcoin. Next, legal text is analyzed to make the comparative case for the United States' and China's legal responses to new advances in cryptocurrency, and how it shows threats to the traditional definition and control of currency.
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Blankenship, Joe. "Forging Blockchains: Spatial Production and Political Economy of Decentralized Cryptocurrency Code/Spaces." Scholar Commons, 2017. http://scholarcommons.usf.edu/etd/6681.
Full textAbstract:
Cryptocurrencies and blockchains are increasingly used, implemented and adapted for numerous purposes; people and businesses are integrating these technologies into their practices and strategies, creating new political economies and spaces in and of everyday life. This thesis seeks to develop a foundation of geographic theory for the study of spatial production within and surrounding blockchain technologies focusing on acute studies of Bitcoin as cryptocurrency, Ethereum as digital marketplace, and their conditions of possibility as decentralized autonomous organizations. Utilizing concepts from Henri Lefebvre's Production of Space, this thesis situates blockchain technologies within the wider discussion about the political economy of modes of spatial production, dialectical material methods, code/space, and network society through an examination of human and machine relations within their unique and emergent spaces. Combining phenomenological and dialectical material methods with the methodological practice of discourse analysis and systems theory, this thesis explores an understanding of how systemic mechanisms and actant actions driving blockchain technologies are indications of new evolutions in our conceptions of space and place in everyday life of later informational capitalism.
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SINGH, ADITYA VIKRAM SINGH. "CRYPTOCURRENCIES: GROWTH & CHALLENGES IN INDIA." Thesis, DELHI TECHNOLOGICAL UNIVERSITY, 2021. http://dspace.dtu.ac.in:8080/jspui/handle/repository/18334.
Full textAbstract:
With the rapid development of information and information technology, many activities in our
daily life can be integrated online, making it easier and more efficient. The significant increase in
the number of online users has led to the concept of visual terms and the creation of a new
business entity called cryptocurrency, making it easier to conduct financial transactions such as
buying, selling and trading. Cryptocurrency is a valuable and invisible electronic tool for a wide
variety of applications and networks, including online social networks, online social games,
virtual worlds and peer-to-peer networks. In recent years, obvious costs have spread to various
programs. This paper examines the expectations of cryptocurrency users for the future. It
examines users' reliance on cryptocurrency when virtual currency is fully controlled and out of
control. Furthermore, the paper seeks to determine the prevalence of cryptocurrency use to
provide a clear picture with an active perspective. The magazine also examines how 21 different
countries have reacted to cryptocurrency in terms of policies and regulations to create a clearer
picture of its impact on the regulation of various laws in India.
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Kirsten, Johan Frederik. "A study of the relationship between economic and technical aspects of bitcoin." Diss., University of Pretoria, 2019. http://hdl.handle.net/2263/77835.
Full textAbstract:
This study investigates the cryptocurrency called bitcoin. A cryptocurrency is a type of
currency that depends on cryptography to issue new units instead of depending on
government decree like fiat currencies. The study will first explain some of the technical
details that make bitcoin work. This is necessary to lay groundwork to get to the actual aim
of the study, namely investigating the economic aspects of bitcoin.
The study will evaluate bitcoin, and other cryptocurrencies, along with fiat currencies
against certain definitions. In the process it will introduce a new subclass of cryptocurrency
- the sovereign cryptocurrency. Bitcoin’s implied monetary policy will also be discussed,
as well as the problems it creates for central banks.
A hypothesis on the behaviour of the bitcoin price will be explained and research will be
provided to support the acceptance of the hypothesis. Using this hypothesis, a stochastic
pricing model for bitcoin will be derived. Arbitrage trading strategies will also be provided
that explain certain price constraints that operate in the bitcoin market.
The dissertation will also introduce a means to improve the anonymity of a user of bitcoin
and will reason that improvements such as these and others will increase the use of bitcoin. Therefore, improvements to anonymity will increase the economic relevance of bitcoin and
increase its competitive edge over the traditional banking system.
It will be reasoned, based on the possible problems created by bitcoin’s monetary policy,
as well as the growth projections implied by the stochastic pricing model, and the
increased economic relevance due to improvements in anonymity, that central banks would
need to create their own cryptocurrency that conforms to certain requirements – the
previously introduced sovereign cryptocurrency.
The study will conclude by explaining the technical changes needed for a fork of bitcoin to
become a sovereign cryptocurrency, as well as a mathematical model to control the
monetary policy of the sovereign cryptocurrency. As its aim, adaptive monetary policy will
have stable prices for the economy using the sovereign cryptocurrency to price its goods
and services.
Please note, that while every effort was made to use published references, the field of
cryptocurrencies is very young and changing constantly. Thus, most publications on the
subject are simply placed on websites on the internet. This is especially true for the work
relating to the founding of the field, and the data sources of the operation of the
cryptocurrencies. Therefore a lot of the references do refer to websites on the internet.Dissertation (MSc)--University of Pretoria, 2019.
Mathematics and Applied Mathematics
MSc
Unrestricted
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Козловська, Ганна Борисівна, Анна Борисовна Козловская, Hanna Borysivna Kozlovska, and A. O. Kirileva. "New challenges for financial security in Ukraine: Using cryptocurrency in criminal income legislation." Thesis, Сумський державний університет, 2019. http://essuir.sumdu.edu.ua/handle/123456789/75246.
Full textAbstract:
В Україні як і в більшості країн світу невпинно розповсюджуються галузі економічної діяльності, які пов’язані із технологічними розробками, комп’ютерними технологіями та мережею Інтернет. Відповідно до тенденцій розвитку технологічного потенціалу також стрімко збільшується кількість кіберзлочинів, що потребує пильного та постійного контролю на національному рівні. На сьогодні комп’ютерні злочини – це одна з найдинамічніших груп суспільно небезпечних посягань. Це зумовлене прискореним розвитком науки й технологій у сфері комп’ютеризації, а також постійним і стрімким розширенням сфери застосування комп’ютерної техніки.В Украине как и в большинстве стан мира неуклонно развиваются области экономической деятельности, которые связаны с техническими разработками, компьютерными технологиями и Интернетом. На сегодня компьютерные преступления – это одна из самых динамичных групп общественных правонарушений. Это обусловлено быстрым развитием науки и технологии в сфере компьютеризации, а также постоянным и стремительным расширением сферы применения компьютерной техники.
In Ukraine, as well as in other regions of the world, sectors of economic activity, used in manufacturing, computer technology and the Internet are constantly expanding. Today, cybercrime is one of the most dynamic groups of socially dangerous attacks. This is caused by the quick development of science and technology in computerization, on the one hand, and by the constant increasing of computer equipment use, on the other hand.
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Козловська, Ганна Борисівна, Анна Борисовна Козловская, Hanna Borysivna Kozlovska, and A. Kirilieva. "New challenges for financial security in Ukraine: using cryptocurrency in criminal income legalization." Thesis, Sumy State University, 2019. https://essuir.sumdu.edu.ua/handle/123456789/77607.
Full textAbstract:
In Ukraine, as well as in other regions of the world, sectors of economic
activity, used in manufacturing, computer technology and the Internet are constantly
expanding. That can be proved by the results of international organizations’ survey
which show that Ukraine entered the top ten of the European states on the number
Internet users. The aim of our research is to observe new challenges for financial
security in Ukraine in terms of using cryptocurrency in criminal income legalization.
The Indicator for Ukraine is 22 million people, who have access to the World Wide
Web (59% of the total number of users).
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Hagström, Jesper, and Lukas Lindblom. "Performance of Network and Transport Protocols in the Implementation of a New Cryptocurrency." Thesis, KTH, Skolan för elektroteknik och datavetenskap (EECS), 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-240985.
Full textAbstract:
It has been suggested that some cryptocurrencies have potential to take the role as a global digital payment system. However, as the current technology stands, all cryptocurrencies have shortcomings which are growing when scaling parameters. This emphasizes the importance of fast and reliable data transmissions when implementing network protocols to handle the transactions. However, little research has been conducted to specifically support the development of cryptocurrencies regarding protocol performance comparison. This study will be assisting the development of a new cryptocurrency, proposed by HAJ Enterprise. The report uses a theoretical framework of economic perspectives to investigate if the proposed cryptocurrency could take the role as a form of good money. Furthermore, the main purpose of the study is to identify which existing transport protocol with appurtenant parameters would be the most suitable in an implementation of the proposed cryptocurrency. To answer these questions, the study measures latency, throughput and reliability of protocols in a test simulating a real case of long distance data transmission. These results are then compared to findings from similar studies. From the results, it was suggested that proposed cryptocurrency satisfies the requirements of good money, as intrinsic value was found through the monetary policy. Moreover, it was found that TCP IPv6 showed the best performance regarding data transmission. However, considering the current state of the IPv6 adoption rate into consideration, it is suggested that TCP IPv4 with a packet size in the range of 1024-2048 would be beneficial. Further research in different settings is required for more nuanced results.Det har föreslagits att kryptovalutor har potential att fungera som ett globalt digitalt betalmedel. Den bakomliggande tekniken medför dock att alla kryptovalutor har brister. Dessa brister är växande när parametrar skalas upp. Detta understryker vikten av snabba och pålitliga överföringar av data och passande val vid implementering av protokoll för att hantera transaktionerna. Forskning inom området för effektiv dataöverföring inom kryptovalutor tillåter fler möjligheter i betraktande av lösningar till storskaliga nätverk. Dessvärre har en begränsad mängd forskning bedrivits som specifikt understödjer utvecklingen av kryptovalutor genom jämförelse av protokollprestanda. Denna studie medverkar i utvecklingen av en ny kryptovaluta, föreslagen av HAJ Enterprise. Rapporten använder ett teoretiskt ramverk av ekonomiska perspektiv på kryptovalutor för att undersöka om den föreslagna kryptovalutan kan klassas som good money. Vidare är det huvudsakliga syftet med studien att identifiera vilka befintliga transportprotokoll, med tillhörande parametrar, som skulle vara mest lämpade att implementera i den föreslagna kryptovalutan. För att besvara dessa frågor mäts fördröjning, genomströmning och tillförlitlighet av protokoll i en testmiljö som simulerar ett verkligt fall med dataöverföring mellan långa avstånd. Dessa resultat jämförs därefter med resultat från liknande studier. Från resultaten kunde rapporten visa att den föreslagna kryptovalutan kan klassificeras som en form av pengar, då inneboende värde kunde identifieras genom kryptovalutans monetära policy. Det var också visat att TCP IPv6 hade bäst prestanda gällande dataöverföring. Men med hänsyn till den globala etablering av IPv6 föreslås TCP IPv4 med en paketstorlek inom en räckvidd mellan 1024 till 2048 byte som mest fördelaktig. Fortsatt forskning inom området och utökade tester inom olika miljöer krävs för ett mer nyanserat resultat.
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Matuschak, A. "Bitcoin: is it good or bad for a consumer?" Thesis, Київський національний університет технологій та дизайну, 2018. https://er.knutd.edu.ua/handle/123456789/11510.
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Жукова, Тетяна Анатоліївна, Татьяна Анатольевна Жукова, Tetiana Anatoliivna Zhukova, and К. О. Бойко. "Переваги та недоліки біткоіна, як можливої валютної системи майбутнього." Thesis, Сумський державний університет, 2017. http://essuir.sumdu.edu.ua/handle/123456789/65075.
Full textAbstract:
Біткоін по своїй суті є криптовалютою або цифровою валютою, яка була
створена для того, щоб вирішити майже всі проблеми он-лайн платежів.
Останнім часом світова наукова спільнота приділяє достатньо уваги
особливостям функціонування названої вище криптовалюти. Зокрема, дані
питання висвітлювалися в роботах таких зарубіжних і вітчизняних авторів як
Е. Фелти, Дж. Крол, Дж. Бонно, Д. Варуша, А. Власов, А. Сейтим.
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Múčka, Matúš. "Využití IPFS pro zpracování blockchainu." Master's thesis, Vysoké učení technické v Brně. Fakulta informačních technologií, 2020. http://www.nusl.cz/ntk/nusl-417255.
Full textAbstract:
Cieľom tejto práce je navrhnúť platformu na spracovanie a preskúmavanie blockchainu vybraných kryptomien pri použití IPFS. Na riešenie tohoto problému bolo potrobné navrhnúť vlastný decentralizovaný a distribuovaný databázový systém, ktorý podporuje pokročilé dotazy. Vytvorené riešenie poskytuje prehľadné grafické užívateľské rozhranie, ktoré slúži na vizualizáciu dát a taktiež API, vďaka ktorému sa dá systém jednoducho napojiť na iné aplikácie. Prínosom tejto práce je nový pohľad na zpracovávanie blockchainu čo otvára nové možnosti v~jeho prehľadávaní.
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Zhang, Jiahang. "Initial Coin Offerings: The Role of Subjective Information in Whitepapers." Oberlin College Honors Theses / OhioLINK, 2019. http://rave.ohiolink.edu/etdc/view?acc_num=oberlin1576809509928498.
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Adamsson, Sören, and Muhammad Tahir. "From One to Many - The Impact of Individual's Beliefs in the Development of Cryptocurrency." Thesis, Högskolan i Halmstad, Akademin för ekonomi, teknik och naturvetenskap, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:hh:diva-28986.
Full textAbstract:
This study analyses the growing area of research that explores the evolution of technology from social and cognition perspective – and how the design and various implementation of technology are being shaped by the factors related to social-constructivism and beliefs systems of individuals. The newly developed technological phenomena of Cryptocurrency – the digital currency for all, provides us with an excellent case to study. We apply social and cognitive processes to understand technology trajectories across the life cycle of cryptocurrency. We thus deepen our understanding by analyzing why and what causes the various technological trajectories in the era of ferment and concluding our research by deriving various technological 'themes'. – that might evolve as the phenomena of cryptocurrency while moving towards the era of dominant design.
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Allan, Matthew J. "Digital Currency in the Digital Age: Portfolio Diversification Using Bitcoin and Litecoin." Scholarship @ Claremont, 2014. http://scholarship.claremont.edu/cmc_theses/831.
Full textAbstract:
This paper will show the effect of cryptocurrencies, specifically Bitcoin and Litecoin, on a diversified portfolio of traditional and alternative assets. By using weekly closing price of these data, I use a single-index model to find betas, Sharpe ratios, and asset correlations. Then using the Markowitz Portfolio Optimization model to find optimal weights both with and without percentage restrictions. To date there is little academic research into cryptocurrency portfolio management. This paper expands upon a similar study done in the summer of 20131 through the Université Libre de Bruxelles. However, their data was from before a major spike in Bitcoin demand in November that same year, and did not include Litecoin. This paper fills the gap.
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Šabík, Erik. "Detekce těžení kryptoměn pomocí analýzy dat o IP tocích." Master's thesis, Vysoké učení technické v Brně. Fakulta informačních technologií, 2017. http://www.nusl.cz/ntk/nusl-363908.
Full textAbstract:
This master’s thesis describes the general information about cryptocurrencies, what principles are used in the process of creation of new coins and why mining cryptocurrencies can be malicious. Further, it discusses what is an IP flow, and how to monitor networks by monitoring network traffic using IP flows. It describes the Nemea framework that is used to build comprehensive system for detecting malicious traffic. It explains how the network data with communications of the cryptocurrencies mining process were obtained and then provides an analysis of this data. Based on this analysis a proposal is created for methods capable of detecting mining cryptocurrencies by using IP flows records. Finally, proposed detection method was evaluated on various networks and the results are further described.
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Ballek, Miroslav. "Analýza těžby alternativních kryptoměn." Master's thesis, Vysoká škola ekonomická v Praze, 2014. http://www.nusl.cz/ntk/nusl-192413.
Full textAbstract:
Over the past few years, bitcoin has become a globally successful and much followed project. It is a kind of decentralized digital currency, which functions based on mathematical-cryptographical principles and is created using a computationally intensive process called mining. Thousands of other alternative crypto currencies exist, which have so far stayed unnoticed by the media, even though they outperform bitcoin in many aspects. The central topic of this paper is the extensive ecosystem of alternative crypto currencies and an analysis of their mining process. The goal is to demonstrate, by means of a practical example, how alternative crypto currencies are mined and also to find out, if it's possible to mine crypto currencies profitably with specific type of a graphic card. To successfully reach this goal I had to first analyse the ecosystem of crypto currencies. Subsequently I compared different crypto currencies to one another and eventually successfully implemented the mining operation and evaluated its results. The main contribution of this paper is to answer the question of whether and how alternative crypto currencies can be profitably mined. I believe the particular benefit of this work rests not only in the practical demonstration of how alternative crypto currencies are mined but also in the summary description of the crypto currency ecosystem's composition and the factors that influence the price of these crypto currencies. Structurally, this paper is divided in three main parts. The first part is dedicated to the explanation of the term crypto currency, what it comprises and according to which principles it functions. The second part contains an analysis of the ecosystem as well as a comparison of a fixed sample of alternative crypto currencies. The third part is the practical part, during which I undertook a real mining operation.
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Werle, Nicolas, and Liina Lehtonen. "Hedging Your Bets: The Prospects of Cryptocurrency Use in Online Gambling : A Mixed-Methods Study." Thesis, Umeå universitet, Företagsekonomi, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-149457.
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Since its initial inception, cryptocurrency has hit the world with both intrigue and skepticism. It was acting as an alternative form of currency that people could use that required no regulative authority to back it. As such, people had the option to make purchases in anonymous manners, leading to what most would consider unethical behaviours, and ultimately resulted in cryptocurrency gaining a poor reputation. However, specific trends in society have helped cryptocurrency growth to continue. A societal loss of trust in the traditional banking system and the positive perception towards the blockchain technology, which is a peer-to-peer system that cryptocurrencies, such as Bitcoin, operate on are two such trends. Furthermore, recent years have witnessed exponential increases in the prices of cryptocurrencies, such as Bitcoin. This has led to widespread stories of people getting rich through cryptocurrency ownership, having been “wise-enough” to buy in on the cryptocurrency trend early enough to reap in the rewards of such as decision. And as a result, leading to more people wanting to be the next big success story and buying in on the cryptocurrency trend. This growing trend has also gained the attention of several multi-national companies, such as Expedia, Subway and Microsoft, who have begun accepting cryptocurrency as a form of payment. Even though specific cases have seen this strategy implemented successfully, the volatility of cryptocurrency still poses a risk that has hindered the ability of cryptocurrency to become a widespread payment option. Given the current trend surrounding cryptocurrency, this thesis serves the purpose is to investigate another alternative option for cryptocurrency use. That option being the potential for cryptocurrency to be used as an alternative payment option in the online gambling industry. Where it has been used as a payment option in other areas, it would be interesting to identify whether there is potential for the cryptocurrency to be adopted and used in this particular industry as well. In order to investigate this phenomenon from both the consumer and industry point-of-views, this thesis used a mixed-methods study, which consisted of a qualitative study and quantitative study. Our qualitative study focused on the industry side of the phenomena. To carry it out, we conducted a series of semi-structured interviews with managers of a large online gambling company in order to gain deeper knowledge on their perspectives regarding their perceptions towards how cryptocurrency adoption would affect the online gambling industry. Based on the information gained from the interviews, specific themes were identified and further analyzed through a thematic analysis. Those themes included blockchain in online gambling, holding cryptocurrency, regulation and the reputation of cryptocurrency. Our results indicated that managers did not believe the industry was ready to adopt cryptocurrency due to specific regulatory factors, but that it had future potential, mainly regarding its association to blockchain. Our quantitative study focused on interpreting the perceptions of online gamblers regarding cryptocurrency use in online gambling. Specifically, identifying what would motivate them to use cryptocurrency in online gambling and if they were willing to accept it as a payment option. Based on the results obtained through a survey we distributed, we used linear regression to identify if online gamblers were willing to accept cryptocurrency. The resulting outcome was a moderate level of rejection towards cryptocurrency acceptance. The linear regression model also allowed us to interpret which predictor variables held the greatest level of importance towards predicting cryptocurrency acceptance. Those specific variables included cryptocurrency anonymity, usability, ownership, and belief in the future of cryptocurrency. When comparing the results from both studies through triangulation, we were able to conclude that both consumers and the industry were not ready to fully accept cryptocurrency usage in online gambling. However, both sides indicated positive outlooks towards its future potential as a payment method.
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Harvey, Nicola Ann. "The Legal Classification of Cryptocurrency in South African Law: An Argument for Classification as Currency." Master's thesis, Faculty of Law, 2019. http://hdl.handle.net/11427/31461.
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Cryptocurrency - and indeed the underlying blockchain technology in general - have the potential to become a dominant method of effecting the transfer of value in a manner that fundamentally shifts the way in which electronic transactions take place. South Africa is a strong emerging market with the potential to attract substantial investment in new technologies should its regulatory response to such innovation remain principled. The primary purpose of this dissertation is to investigate the most appropriate classification of cryptocurrency in South African law. The research is qualitative in nature. It considers selected aspects of the existing legislative framework and scholarly opinion in determining whether cryptocurrency is best classified as property or as currency. The necessary corollary of this research focus is to consider the fundamental importance of such a classification for legal policy design generally, and the practical effects thereof. This dissertation hypothesises that the value of the blockchain technology lies in its commercial viability and its potential scalability, particularly in the African context. Thus, the required objective of regulatory intervention should be to preserve the commercial viability of cryptocurrency and avoid stifling technological advancement, whilst simultaneously ensuring the protection of vulnerable users. The conclusion is that cryptocurrency is best classified as foreign currency. This dissertation acknowledges that although it is possible to fit such a classification into existing legislative frameworks, a more specialised structure is ultimately required. Additionally, it raises concern about the harm caused by reactive regulatory intervention and instead recommends a principled policy approach, cognisant of the need for maturation of the technology.
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Moyer, Adam C. "Self-Evolving Data Collection Through Analytics and Business Intelligence to Predict the Price of Cryptocurrency." Ohio University / OhioLINK, 2020. http://rave.ohiolink.edu/etdc/view?acc_num=ohiou1604656483616404.
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Segerstedt, Gustav, and Theodor Uhmeier. "How accuracy of time-series prediction for cryptocurrency pricing is affected by the sampling period." Thesis, KTH, Skolan för elektroteknik och datavetenskap (EECS), 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-232141.
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Cryptocurrencies and their pertaining market currently succeeds $300billion and has had an all time high surpassing $850 billion. Being able to predict market movements and future valuations for a cryptocurrency would be an invaluable and very profitable tool for designing successful investment strategies. This thesis compares how time series predictions on the cryptocurrency Ether using a long short-term memory (LSTM) neural network is affected by altering the sampling period. Specifically we look at how the sampling periods of 30 minutes, 2 hours and 4 hours affect a prediction horizon of 4 hours. The results are also verified across a varying number of neurons (10, 20 and 40) for each of the two LSTM layers of the model. The results indicate that the accuracy of predictions can be improved by decreasing the sampling period of data. However there does not seem to be any clear trend how changing the number of neurons per LSTM layer affect prediction accuracy.Kryptovalutor och deras tillhörande marknad överstiger idag $300 miljarder i marknadsvärde och har tidigare som högst nått $850 miljarder. Att kunna förutspå en valutas värde skulle vara ett mycket viktigt verktyg i en lönsam investeringstrategi. I denna uppstats jämförs hur precisionen för prediktering för en specifik tidshorisont påverkas i ett neuralt nätverk utav samplingsperioden av datan. Mer precist utförs detta med en long short-term memory (LSTM) modell på kryptovalutan Ether. Specifikt undersöks hur en LSTM modells prediktering fyra timmar framåt påverkas genom att ändra samplingsperioden från 4 timmar till 2 timmar och sist 30 minuter. Resultaten valideras även för ett varierande antal neuroner per nätverkslager (10, 20 och 40). Resultaten av denna undersökning indikerar att prediktionernasprecision kan förbättras genom att minska samplingsperioden av datasetet. Däremot syns ingen tydligen trend när antalet neuroner per nätverkslager ändras.
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Mehilli, Lunida <1992>. "An Empirical Study on the Adoption of Cryptocurrency E-Payment Systems in Italian Business Platforms." Master's Degree Thesis, Università Ca' Foscari Venezia, 2018. http://hdl.handle.net/10579/12959.
Full textAbstract:
In view of a financial revolution caused by an increasing adoption of cryptocurrencies as a method of payment, the purpose of this paper is to analyse the advantages and disadvantages faced by Italian companies entering the international group of cryptocurrency advocates and accepting cryptocurrency payments in their businesses.
The first chapter introduces the world of cryptocurrencies including their classification and main attributes with the aim of creating a clear picture on this new payment system and its instruments.
The second chapter is a general overview on electronic payments, taking into consideration drivers, typologies and requirements for successful e-payment systems.
Pros and cons are evaluated for each type of electronic payment system, with a special regard for e-cash systems and in particular the cryptocurrency subcategory.
The third chapter examines the cryptocurrency e-payments operational field with respect to innovation models and studies the interesting cluster of companies accepting cryptocurrency payments formed in the north-eastern Italian region.
Finally the work is concluded with the fourth chapter, that develops some case studies on the bases of interviews submitted to representatives of the companies object of the interviews, describing their perceived advantages and disadvantages in joining the cryptocurrency, in particular Bitcoin, payments acceptance as early adopters.
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Ковальчук, Володимир Русланович. "Світовий ринок криптовалют в умовах трансформації глобальної економічної системи." Магістерська робота, Київський національний університет технологій та дизайну, 2021. https://er.knutd.edu.ua/handle/123456789/19259.
Full textAbstract:
У роботі дослідженно теоретико-методологічні основи прогнозування криптовалют на основі причинно-наслідкових зв’язків із ключовими індикаторами. Проведено аналіз існуючих методів до моделювання курсів криптовалют. Основною метою проведення дослідження є побудова математичної моделі для прогнозування та на її основі надання прогнозних значень на наступні періоди. А також вивчення криптовалюти в фінансовій та політичній системах. Ключовими методами дослідження є тест Грейнджера та ARDL модель, які були практично реалізовані за допомогою eViews та MS Excel.The paper investigates the theoretical and methodological foundations of cryptocurrency forecasting based on causal relationships with key indicators. The analysis of existing methods for modeling cryptocurrency rates is carried out. The main purpose of the study is to build a mathematical model for forecasting and on its basis to provide forecast values for future periods. As well as the study of cryptocurrency in financial and political systems. The key research methods are the Granger test and the ARDL model, which were practically implemented using eViews and MS Excel.
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Gartz, Madeleine, and Ida Linderbrandt. "Are Cryptocurrencies the Future of Money? : Whether a Transition to Cryptocurrency, as National Currency of Sweden, Would be Possible and What it Would Imply for the Swedish Society." Thesis, KTH, Skolan för datavetenskap och kommunikation (CSC), 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-210765.
Full textAbstract:
The underlying technology of cryptocurrencies is a broadly discussed subject. In Sweden, a growing interest for digital assets and payment methods can be observed. The fact that this coincides with an increasing acceptance for cryptocurrencies creates interesting possibilities. Some claim that cryptocurrency could be the future mean of payment. The objective of this report is therefore to examine whether a cryptocurrency could replace the Swedish krona, and what such a transition would imply for the Swedish society. To deliver a thorough analysis, the delimitation to exemplify with the cryptocurrency bitcoin and its protocol was made. Primarily, a literature study was conducted to determine the protocol’s structure, security and usability, as well as its possibility to fulfil the functions of the Swedish krona. In addition, an interview with Björn Segendorf at the Riksbank was held, in order to obtain the Riksbank’s interest and standpoint in the questions of matter. A transition to cryptocurrency is associated with both advantages and disadvantages. The infrastructure behind Bitcoin creates a possibility to process certain payments more time and cost efficiently, and simultaneously provides open and decentralized participation as well as increased payer integrity. However, the Bitcoin protocol has limitations that should be considered and dealt with before a transition should be initialized. The large energy consumption required to process transactions could be considered the largest obstacle for Bitcoin’s further growth. There are also security concerns, that could affect users of the protocol, that should be considered. Sweden fulfils the technical prerequisites for Bitcoin, and any other cryptocurrency with similar structure. However, a cryptocurrency does not fulfil the functions of a traditional currency. A transition to cryptocurrency would also affect the Riksbank’s possibility to conduct monetary policies. Following, the report concludes that a complete transition to cryptocurrency in Sweden seems unfavourable as of today. Cryptocurrencies are likely to grow continuously, and gain new market shares, but will coexist with traditional currencies and payment systems. It is not unlikely that a transition to cryptocurrency will occur in the future, when the market has matured, and solutions to problems highlighted in this report have been presented.Tekniken bakom kryptovalutor har blivit ett hett diskuterat ämne. I Sverige urskiljs ett allt merväxande intresse för digitala tillgångar och betalmetoder, och att detta sammanfaller med enökande acceptans för kryptovalutor skapar intressanta möjligheter. Vissa menar attkryptovaluta kan vara framtidens betalmedel. Rapportens frågeställning avhandlar därförhuruvida en kryptovaluta skulle kunna ersätta den svenska kronan och vad det skulle innebäraför det svenska samhället. För att utreda frågan har en avgränsning gjorts till att exemplifieramed kryptovalutan bitcoin och dess protokoll. Primärt har en litteraturstudie utförts kring såvälprotokollets uppbyggnad och säkerhet som dess användarvänlighet och möjlighet att axla densvenska kronans funktioner. Dessutom har en intervju genomförts med Björn Segendorf påRiksbanken i syfte att ta del av Riksbankens intresse och ställningstagande i frågan. Det finns såväl fördelar som nackdelar med en övergång till kryptovaluta. Infrastrukturenbakom bitcoin skapar möjlighet att tids- och kostnadseffektivisera betalningar inom vissaområden, och erbjuder samtidigt ett öppet, decentraliserat deltagande, samt ökadanvändarintegritet. Protokollet har dock begränsningar som bör tas i beaktande innan enövergång kan ske. Den höga energikonsumtion som krävs för att bearbeta transaktioner kananses utgöra störst hinder för Bitcoins fortsatta framväxt. Dessutom finns flerasäkerhetsaspekter som riskerar påverka användare av valutan negativt. Sverige har tekniska förutsättningar för att övergå till en kryptovaluta med tekniska kravliknande de för Bitcoin. Emellertid kan en kryptovaluta inte anses uppfylla de krav som ställspå en valuta. En övergång till kryptovaluta skulle även påverka Riksbankens möjlighet attbedriva penningpolitik. Slutsatsen blir således att en total övergång till kryptovaluta i Sverige ter sig ogynnsam med dagens förutsättningar. Kryptovaluta kommer med största sannolikhetatt fortsätta växa och ta marknadsandelar, men kommer att samexistera med traditionellavalutor och betalningssystem. Det känns inte osannolikt att en övergång till kryptovalutakommer att ske i framtiden när marknaden mognat och lösningar, på i rapporten belystaproblem, presenterats.
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Law, Camilla, and Marja Vahlqvist. "Can Bitcoin be used as a hedge against the Swedish market? : Does Bitcoin have hedging capabilities against the OMXS30, or is it just a diversifier in a portfolio?" Thesis, Stockholms universitet, Finansiering, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:su:diva-153123.
Full textAbstract:
Bitcoin has gained more recognition than ever before, and the interest in cryptocurrencies seems to grow exponentially. Without any central government regulating Bitcoin, a global user group has adopted this new technology, which is designed to be used as a currency for trading without banks. Empirical studies focus on revealing the true characteristic of cryptocurrencies. Are they a currency, an asset or something else? This paper explores the potential of Bitcoin as a financial asset when used for hedging and portfolio diversification. A regression analysis will be performed to analyse if Bitcoin can be used as a hedge against OMXS30. This analysis yields insignificant values, which leads to a complication in the conclusion. The result imply that Bitcoin is an inadequate hedge, but may possess diversification properties. Studying Bitcoin in relation to OMXS30, Dow Jones, Nikkei 225, Gold and Oil results in correlation values close to zero. By using the mean-variance optimization method, two portfolios are created, one including and one excluding Bitcoin. We show that by including Bitcoin in the portfolio the risk can be decreased on a given return rate. Considering the low and insignificant correlation values with other assets and the better riskreturn ratio when Bitcoin is included in a portfolio, we conclude that Bitcoin can be a suitable diversification tool.
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Герасіка, Н. І. "Криптовалюта як специфічна економічна категорія." Thesis, Сумський державний університет, 2018. http://essuir.sumdu.edu.ua/handle/123456789/67012.
Full textAbstract:
На сьогоднішній день на ринку валют існує така одиниця як
криптовалюта, яка була введена в обіг відносно нещодавно (2008 р).
Криптовалюта – це так звані цифрові гроші, які неможливо підробити
як паперові гроші. На сьогоднішній день це питання є дуже
актуальним, бо з допомогою «добування» саме криптовалюти люди
можуть заробляти чималі реальні гроші.