Anton Badev and Matthew Chen’s Bitcoin: Technical Background and Data Analysis from 2014 might seem outdated but the data presented therein are worth pondering. Executive Summary Broadly speaking, Bitcoin is a scheme designed to facilitate the transfer of value between parties. Unlike traditional payment systems, which transfer funds denominated in sovereign currencies, Bitcoin has its own metric for value called bitcoin (with lowercase letter b”, and abbreviated as BTC1). Bitcoin is a complex scheme,…
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