Bitcoin better than the dollar?

phys.org | 10/11/2018 | Staff
tiazanne (Posted by) Level 3
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The name cryptocurrency does not inspire trust. Advanced statistical analysis for the Bitcoin market carried out at the Institute of Nuclear Physics of the Polish Academy of Sciences in Cracow, however, has not shown any significant differences between its basic statistical parameters and their equivalents for respected financial markets. All indications are that Bitcoin is a better currency than it might seem at first glance.

Bitcoin, the first and the most popular cryptocurrency, is still treated by many investors with a deal of mistrust. A detailed statistical analysis of the Bitcoin market (BTC), conducted at the Institute of Nuclear Physics of the Polish Academy of Sciences (IFJ PAN) in Cracow, contradicts this common opinion. The analysis, published in the renowned scientific journal Chaos: An Interdisciplinary Journal of Nonlinear Science, shows Bitcoin—and potentially other cryptocurrencies—in a surprisingly positive light.

Credibility - Currencies - Degree - Artefact - Nature

The credibility of traditional currencies seems to be, to a significant degree, a psychological artefact resulting from the nature of their evolution. Subconsciously, we believe that since at one time there used to be specific material commodities behind money, this is still the case today. But from the physical point of view, traditional currencies have for quite some time now been the same as cryptocurrencies from their moment of birth: clusters of bits in the memory of bank computers. The real value of a currency is now determined not by what lies behind it, but first and foremost by what is happening to it—that is, the market.

"When new emerging financial markets started to appear in Central and Eastern Europe after the collapse of socialism, the question of their stability naturally arose. A number of statistical criteria were identified at that time, making it easier to assess the maturity of the market. We were curious about the results we would get if we used them...
(Excerpt) Read more at: phys.org
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