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Author Topic: Cryptocurrencies as alternative mean of payment to fiat money (master thesis)  (Read 53 times)
Mister.Coinlover
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June 14, 2018, 07:20:14 AM
 #1

Hey guys,

I need the swarm-intelligence. Currently, I am writing my master thesis about how central banks currently work and if cryptocurrencies as private money and a potential replacement to fiat money may or may not become a threat to the central bank´s ability to operate since their control about the amount of fiat money in circulation is one of their most important instruments to operate. Therfore I am in need of qualitive good articles (or even scholars) that target this or related topics.

Every hint will be much appreciated. Thanks!
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sandisunny
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June 14, 2018, 09:28:29 AM
 #2

Hey guys,

I need the swarm-intelligence. Currently, I am writing my master thesis about how central banks currently work and if cryptocurrencies as private money and a potential replacement to fiat money may or may not become a threat to the central bank´s ability to operate since their control about the amount of fiat money in circulation is one of their most important instruments to operate. Therfore I am in need of qualitive good articles (or even scholars) that target this or related topics.

Every hint will be much appreciated. Thanks!

Cryptocurrencies being used as a replacement is going to greatly affect the government and also the poor masses. Lets look at how the banks work for example, the central bank needs fiat money or paper money as the case may be to give out loan to their customers and sometimes trade with it and the central bank also control the circulation of fiat money since the system is centralized. Cryptocurrencies price are not stable, they sometimes are inflated or deflated, now this is so because the system is decentralized and not being control by the central bank or government but by the demand from people, now which bank wants to give out loan or trade in an uncertain environment? definitely no bank. So cryptocurrency taken over fiat money will definitely pose a threat to the bank or government at large because they can't control the circulation.
jseverson
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June 14, 2018, 02:18:59 PM
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Well, at least a few banks certainly believe cryprocurrencies pose a threat to them. Here's one example:

https://www.coindesk.com/british-banking-association-bitcoin-is-a-real-threat-to-banks/

I'm guessing a few more share the same sentiment but would rather keep it behind closed doors. There are a lot of moving parts for sure, but we should at least be able to assume that banks being redundant for majority of the populace poses a massive problem for them. Still, I believe they'll be able to adapt to that somehow. Maybe do research on that as well?

I also read a nice piece about technology in general (though Bitcoin is also mentioned) being a threat to banking:

https://www.investopedia.com/articles/personal-finance/040115/technology-biggest-threat-big-banks.asp

I'm sorry that these are pretty generic, but I'm just a casual learner lol.

butka
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June 14, 2018, 03:02:26 PM
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I don't think you can find many specialist types of article specifically targeting the threat that cryptocurrencies pose to the central banks. But, here are my 2 satoshis:

An (Institutional) Investor’s Take on Cryptoassets, great overall outlook from an investors perspective, which is not what you are looking for, but scroll down and check the chapter "Cryptoassets as Money".

In case you haven't checked it yet, "The internet of money" by Andreas M. Antonopoulos. It offers some unique views on how Bitcoin may change our relationship with money and disrupt the positions of the central banks. Not really an academic style, but it may help.


Don Pedro Dinero
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June 14, 2018, 03:24:29 PM
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Never forget to include satoshi’s paper. He talks about creating a P2P cash system, and central banks are left out of the equation. It must be on your introduction and/or first chapters.

I hope when you finish it you leave a link here.
dothebeats
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June 14, 2018, 09:35:16 PM
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It could work as an effective means of payment with the expense of fiat being unused and possibly harming the general economy of the country. While I see bitcoin being the greatest financial development of the modern age, this could be a means for the rich to get richer and the poor to work harder without any increase in their quality of lives.

The reason I see why banks generally do not like crypto to grow is because it will combat fiat in a sense that the circulation would be off and the rich can just hoard more money in the form of fiat or bitcoin, or both. Oftentimes, this does not pose a threat, but if that money isn't tended, or isn't being used, the rich will only become richer as time goes by while the poor workers will work hard expecting the same wages since there's simply no money available for picking. It's good if the rich can invest his money into more infrastructures creating more jobs for people, but oftentimes, the rich only buys financed vehicles, interest-bearing accounts, precious metals and other value-bearing assets. Without any increase in profit for the company the rich man owns, his taxes would remain the same while getting rich on the background. In short, fucking up the economy. Bitcoin and cryptocurrencies are the perfect tools for just that.

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If you want to read more about the technical aspects of bitcoin and how it might affect the current financial system, the Whitepaper is a must read for you, then look for Satoshi's own words here on the forum or other forums about his stance on the economics of bitcoin and why banks can disappear with the advent of P2P cash system.

zakariajaki
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June 14, 2018, 10:00:06 PM
 #7

I think a lot of articles that you can read from many economic studies from various sources, apart from the artiketl created for altcoin project, it could be but I think it becomes secondary data only, one example
https://www.jbs.cam.ac.uk/fileadmin/user_upload/research/centres/alternative-finance/downloads/2017-global-cryptocurrency-benchmarking-study.pdf
https://www.chapman.edu/research/institutes-and-centers/economic-science-institute/_files/ifree-papers-and-photos/koeppel-april2017.pdf
and much more, I strongly support you to analyze crypto both technologically and economically and hope your experience and knowledge can open the future for the better, may be useful and successful for all of us
 
Tankdestroyer
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June 14, 2018, 10:14:39 PM
 #8

Never forget to include satoshi’s paper. He talks about creating a P2P cash system, and central banks are left out of the equation. It must be on your introduction and/or first chapters.
He would also need to include some counter arguments that side with fiat and define it. He might also need to discuss what are the current problems of using fiat money and the dangers of a cashless society in his chapter 2 and a little bit on his chapter 1. Here are 2 articles that might help you to do that OP:
https://blockonomi.com/fiat-currency/
https://www.financialsense.com/contributors/ron-hera/fifteen-fundamental-problems-with-fiat-currencies
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