Abstract

http://ssrn.com/abstract=2446604
 


 



Can Bitcoin Become a Major Currency?


William J. Luther


Kenyon College

Lawrence H. White


George Mason University - Department of Economics

June 5, 2014

GMU Working Paper in Economics No. 14-17

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: 9

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

JEL Classification: E40, E41, E42

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Date posted: June 6, 2014 ; Last revised: July 21, 2014

Suggested Citation

Luther, William J. and White, Lawrence H., Can Bitcoin Become a Major Currency? (June 5, 2014). GMU Working Paper in Economics No. 14-17. Available at SSRN: http://ssrn.com/abstract=2446604 or http://dx.doi.org/10.2139/ssrn.2446604

Contact Information

William J. Luther (Contact Author)
Kenyon College ( email )
Gambier, OH 43022
United States
HOME PAGE: http://www.wluther.com
Lawrence H. White
George Mason University - Department of Economics ( email )
4400 University Drive
Fairfax, VA 22030
United States
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