Phenomenon crystals: satisfaction, mechanism of completion, use challenges
Journal Title: Economic Bulletin. Series: Finance, Accounting, Taxation - Year 2018, Vol 0, Issue 2
Abstract
The process of occurrence of crypto currency as a part of the crypt economy (digital economy), based on fundamentally new technology – blockade, is investigated. Bitcoins is a digital cryptography, created in 2008 by an unknown mathematician under the pseudonym Satoshi Nakamoto. These Bitcoin properties are defined: 1) non-materiality; 2) nonconformity; 3) anonymity; 4) availability of value bases; 5) conditionally limited resources due to the introduction of the inverse proportional function of the velocity of the total bitwise extracted; 6) openness and accessibility for everyone. All of these properties provide the quality of the bitcoin that make it money. The extraction of bitcoins is so significant that large volumes of electricity consumed by the betting industry give rise to the problem of not only financial speculation, but also increasing the load on the external environment. Offenses related to bitinom consist in their use in criminal operations. The rapid spread of bitcoin prompted the development of rules for its regulation, taxation, permitting documents, registration of transactions and property rights, mechanisms for protection against unlawful actions. However, the unification of regulatory norms prevents divergences in its legal sense.
Authors and Affiliations
Yanina Belinskaya
Keywords
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- EP ID EP493215
- DOI 10.33244/2617-5932.2.2018.11-20
- Views 156
- Downloads 0
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