Special Issue "Bitcoin: Past, Present, and Future"

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Financial Technology and Innovation".

Deadline for manuscript submissions: closed (30 November 2020).

Special Issue Editor

Prof. Dr. Dirk G. Baur
Website
Guest Editor
Faculty of Arts, Business, Law and Education, UWA Business School, University of Western Australia, Perth, Australia
Interests: gold; Bitcoin; cryptocurrencies; dependence modelling; econometric analysis

Special Issue Information

Dear colleagues,

Bitcoin was introduced in 2009 as a peer-to-peer electronic cash system and has been referred to as a blockchain-based currency, virtual money, cryptocurrency, safe haven, and store of value, among others. Bitcoin is also labelled the blockchain as an example of a functioning open, public distributed ledger.

Initially, Bitcoin was not traded on any exchange and had no market price. Ten years later, the value of Bitcoin has increased substantially, Bitcoin is traded on many exchanges, and the entire cryptocurrency market has broadened, including many alternatives to Bitcoin (“altcoins”).

This Special Issue aims to publish research analyzing the remarkable evolution of Bitcoin from the past to the present, current issues, and its potential future role in the financial and economic system. For example, will Bitcoin and the blockchain technology disrupt the financial system and lead to a democratization of finance?

We will collect papers addressing financial, economic and monetary questions on Bitcoin and its underlying technology blockchain. We are particularly interested in research on specific aspects of Bitcoin, including the evolution of bitcoin prices and returns over time, the relationship of Bitcoin with other assets, arbitrage across exchanges, behavioral aspects of bitcoin, the role of decentralization and trust, excess volatility and its implications for portfolio diversification, the economics of mining etc. The focus of this Special Issue is on financial and economic questions, but regulatory and philosophical research related to Bitcoin and the blockchain technology will also be considered.

We will also consider research presented at the 3rd UWA conference on Blockchain, Cryptocurrencies and FinTech in 2020 (Perth, Australia) to be included in this Special Issue.

https://www.uwa.edu.au/able/schools/business-school/events/uwa-blockchain-conference

Prof. Dr. Dirk G. Baur
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All papers will be peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1200 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • Bitcoin
  • Cryptocurrencies
  • Blockchain
  • Altcoins
  • Distributed ledger technology (DLT)
  • Decentralization
  • Trust
  • Digital assets
  • Fundamental value
  • Bubbles
  • Arbitrage
  • Excess volatility
  • Correlation and volatility modelling
  • Portfolio diversification

 

Published Papers (1 paper)

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Research

Open AccessArticle
Bitcoin Price Risk—A Durations Perspective
J. Risk Financial Manag. 2020, 13(7), 157; https://doi.org/10.3390/jrfm13070157 - 17 Jul 2020
Abstract
An important aspect of liquidity is price risk, i.e., the risk that a small transaction leads to a large price change. This usually happens in a thin market, when trading opportunities are scarce and the time between subsequent trades is long. We rely [...] Read more.
An important aspect of liquidity is price risk, i.e., the risk that a small transaction leads to a large price change. This usually happens in a thin market, when trading opportunities are scarce and the time between subsequent trades is long. We rely on an autoregressive conditional duration model to extract the probability of a substantial price event in a particular time interval and, thus, an intraday risk profile. Our findings show that price risk is highest at times when European and U.S. investors do not trade. In a second step, we relate daily aggregates to characteristics of the Bitcoin blockchain and investigate whether investors account for features like confirmation time or fees when timing their orders. Full article
(This article belongs to the Special Issue Bitcoin: Past, Present, and Future)
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