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Author Topic: Survey on the inefficiency of Bitcoin  (Read 49 times)
superjenjen94
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April 10, 2018, 05:34:39 AM
Last edit: April 11, 2018, 03:22:40 AM by superjenjen94
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Dear All,

My name is Jena Summoogum and I am currently undertaking my master’s degree in Finance at the Asia Pacific University, Malaysia. As part of the master’s programme, I am conducting a research study entitled “On the inefficiency of Cryptocurrency: The Case of Bitcoin”. Recent loopholes in the Bitcoin network, such as the absence of concrete monetary regulations, incline in third-party intrusions on the network, ongoing theft/loss of bitcoins on the network, and constant fluctuations in the Bitcoin price, have triggered debatable questions on the future of Bitcoin. The main objective of my research paper is to examine the impact of the inefficiencies surrounding the Bitcoin ecosystem on the future of Bitcoin.

The present questionnaire aims at obtaining the feedback from current/potential Bitcoin investors as well as Bitcoin enthusiasts regarding the various issues faced when transacting with bitcoins. The questionnaire focuses on four parameters of the Bitcoin ecosystem to evaluate probable inefficiencies in the Bitcoin network, namely the security protocol surrounding the Bitcoin network, the volatility of the Bitcoin currency, the deflationary aspect of Bitcoin, and the regulations surrounding Bitcoin.

Please find the link to the questionnaire as follows:
https://docs.google.com/forms/d/e/1FAIpQLScyaz-ajHuC92oP38k8GWf3lbkXqJ71Buf4I4H4_vOH2g_u7Q/viewform?usp=sf_link

Your participation to the following survey is well-appreciated. Your responses are voluntary and will be confidential. Responses will not be identified by individual. All responses will be compiled and analysed as a group. For any clarifications regarding the questionnaire, feel free to contact me on jenasummoogum@gmail.com

Thanking you for your time invested in this research.


Best regards,

Jena Summoogum
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August 21, 2018, 02:50:50 PM
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Bitcoin anonymity is for hackers and criminals also. Bitcoin could be $150 billion ponzi scam
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August 21, 2018, 04:14:13 PM
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Bitcoin anonymity is for hackers and criminals also. Bitcoin could be $150 billion ponzi scam

It's not true and you still don't understand the purpose of cryptocurrency. There are persons looking to get a real financial privacy and it won't stop. Secondly, the percentage of Bitcoin transactions used for criminal activities decreased by 90% in less than 5 years. Your problem is you read too much news about random companies hacked and hackers asking bitcoins, ransomware, etc.
There are some privacy-centric cryptocurrencies providing a much better anonymity and this is why they are using it for some time now.

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August 21, 2018, 05:21:52 PM
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I have not seen any breakthrough invented or discovered that is self sufficient without having a particular disadvantage to want to discourage its use. The same can be said of crypto currency too.

However, it is not enough to make a conclusion based on your findings because your findings are valid that the influence of those factors you have identified are enough to be negative about bitcoin as the same might not remain in the next decade because strictly speaking all of those factors you have identified are being dealt with gradually that the influence is weaning down.

Focusing on the absence of concrete monetary regulations, this would soon become a thing of the past although we might not have central regulatory body but with the continual framework being developed, discussions ongoing,  KYCs implementation etc. several sovereign bodies would be able to monitor the activities of crypto currency. When this is done, all other factors would have been solved 50%.

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