Article in Journal
Bitcoin-Mining and Its Economic Costs
Marcel Thum
ifo Institut, München, 2018
ifo Schnelldienst, 2018, 71, Nr. 02, 18-20
ifo Institut, München, 2018
ifo Schnelldienst, 2018, 71, Nr. 02, 18-20
The public debate over Bitcoins is currently focused on the lack of state control over the currency and the dangers of a speculative bubble. In the euphoria over the new form of digital currency, it is often overlooked that, unlike traditional money, Bitcoins and other crypto-currencies often have high production costs. The production of Bitcoins has cost more than 5 billion US dollars since 2010.
JEL Classification: E440, G120
Included in
Journal (Complete Issue)
ifo Schnelldienst 02/2018: Structural Crisis and Cut-Throat Competition in the Steel Market?
ifo Institut, München, 2018