Can Bitcoin Become a Major Currency? by William J. Luther, Lawrence H. White :: SSRN

 

Can Bitcoin Become a Major Currency?


William J. Luther


Kenyon College

Lawrence H. White


George Mason University – Department of Economics

June 5, 2014

Abstract: 

At present, bitcoin is held mostly as a speculative vehicle, little used to pay for goods and services. Its value has been unstable, which impedes bitcoin’s wider use as a payment medium. We explain why the value of bitcoin has been so unstable. Then, we discuss entrepreneurial efforts that might enable bitcoin to become a more commonly accepted payment medium.

 

Number of Pages in PDF File: 8

Keywords: Bitcoin, Medium of Exchange, Store of Value, Unit of Account

JEL Classification: E40, E41, E42

working papers series 

via Can Bitcoin Become a Major Currency? by William J. Luther, Lawrence H. White :: SSRN.

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