An Overview of Alternative Currency: The Bitcoin

Authors

  •   Sandeep Bhattacharjee Assistant Professor, Department of Management, Usha Martin Academy Ranchi, Booty more, Near Dipatoli Cantonment, Jharkhand
  •   Harmeet Kaur Assistant Professor (Finance), Usha Martin Academy, Ranchi, Booty more, Near Dipatoli Cantonment, Jharkhand

DOI:

https://doi.org/10.17010/ijf/2015/v9i6/71162

Keywords:

Bitcoin

, Currency, Transaction Volume, Volatility, Dollar

F330

, F650, G150

Paper Submission Date

, April 23, 2014, Paper sent back for Revision, September 20, Paper Acceptance Date, February 6, 2015

Abstract

The financial market is based on the currency and the volume of trade between different individuals, groups, or organizations. This trade is ruled or governed by several protocols, which limits the over flooding or inappropriations in the exchange markets. One such virtual currency that is becoming popular among users is Bitcoin. In this paper, we discussed the evolution of Bitcoin as a currency, situations preceding and aftermath, as well as its consequences and effects on the present economy. We also discussed its growth, transaction volumes, currency acceptability, and factors involved. In this paper, we have tried to ensemble related thoughts for seeking new ideas for developing an alternative financial system. The results attained thereof could give new hopes to both consumers and markets seeking more freedom in terms of volume, payment methods, anonymity, and so forth.

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Published

2015-06-01

How to Cite

Bhattacharjee, S., & Kaur, H. (2015). An Overview of Alternative Currency: The Bitcoin. Indian Journal of Finance, 9(6), 51–60. https://doi.org/10.17010/ijf/2015/v9i6/71162

Issue

Volume 9, Issue 6, June 2015

Section

Articles
Crossref
Scopus
Google Scholar
Europe PMC

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