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Velde FR (2013) Bitcoin: A primer. Chicago Fed Letter 317: 1–4. View Article Google Scholar 8. Bornholdt S, Sneppen K (2014) Do Bitcoins make the world go around? on the dynamics of competing crypto-currencies. arXiv:14036378: 1–5. View Article Google Scholar 9. Academia.edu is a platform for academics to share research papers. - Bitcoin’s long-run problem: deflation after 2140 Class Seven: Is Bitcoin a currency, or something else? - Classical criteria of money: medium of exchange, unit of account, store of value - Bitcoin’s problems: volatility, arbitrage, market incompleteness - Measures of Bitcoin’s adoption in the mainstream economy r/Bitcoin: A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money … although currency is one aspect of the Bitcoin system, Bitcoin is more broadly an Internet protocol with many applications beyond payments or money transfer, such as recording property titles and 1. Francois R. Velde, Bitcoin: A Primer, 317 CHICAGO FED LETTER 1, 1 (2013). 2. Jerry Brito & Andrea Castillo, Bitcoin: A Primer for Policymakers, at 1
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