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Information Resources Management Association
Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

Has Bitcoin Achieved the Characteristics of Money?

Has Bitcoin Achieved the Characteristics of Money?
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Author(s): Donovan Peter Chan Wai Loon (University of Malaya, Malaysia) and Sameer Kumar (University of Malaya, Malaysia)
Copyright: 2018
Pages: 7
Source title: Encyclopedia of Information Science and Technology, Fourth Edition
Source Author(s)/Editor(s): Mehdi Khosrow-Pour, D.B.A. (Information Resources Management Association, USA)
DOI: 10.4018/978-1-5225-2255-3.ch242


View Has Bitcoin Achieved the Characteristics of Money? on the publisher's website for pricing and purchasing information.


Bitcoin is a peer-to-peer network that facilitates transactions between parties minus the proof requirement of an appointed third party; i.e. banks or financial institutions. Accurate understanding into the implementation of bitcoin can be acquired from data of the universal record of bitcoin transactions. Although, data from numerous websites show that bitcoin daily transactions count has reached capacities of tens of thousands, it is widely believed that most of these transactions comprise of activities between speculators, and only a few are actually used for trading of goods and services. The paper looks if bitcoin has achieved the characteristics of money. For it to survive, bitcoin must overcome the problems of its unconventional pricing mechanism, shortage of vendors who accept it, and the circuitous way of obtaining it.

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