NYU Stern - David Yermack - Albert Fingerhut Professor of ...

Bitcoin lacks most of the features economists value in a currency, says David Yermack (professor at the New York University Stern School of Business and director of the NYU Pollack Center for Law and Business.) ~ MIT Technology Review

Bitcoin lacks most of the features economists value in a currency, says David Yermack (professor at the New York University Stern School of Business and director of the NYU Pollack Center for Law and Business.) ~ MIT Technology Review submitted by kkoolook to Bitcoin [link] [comments]

Professor of finance at NYU David Yermack states that in a year from now they [bitcoins] may be all but worthless.

Another professor speaks. Will his prediction be as unreliable as Professor Bitcorn's or is he on to something?
Link to cnn report
"We'll have to wait and see but I wouldn't hold your breath that anything big is going to happen with Bitcoin in the future.
It wouldn't be the least bit surprising to see the best bits of Bitcoin be grafted into new products and services (like facilitating international transfers). A lot of the breakthrough products tend to get taken over pretty quickly by improved versions and I think that's likely going to be the fate of Bitcoin.
It's certainly played a role in raising issues and opening possibilities that people were only dimly aware of before. But if I owned Bitcoins, I would be a seller at the current market price as I think a year from now they may be all but worthless."
submitted by Always_Question to Bitcoin [link] [comments]

David Yermack self proclaimed "expert" on bitcoin intends to set the agenda on future study of bitcoin

David Yermack self proclaimed submitted by Ozziecoin to Bitcoin [link] [comments]

Finance Professor David Yermack Argues that Bitcoin Should Not Be Considered as Money

Finance Professor David Yermack Argues that Bitcoin Should Not Be Considered as Money submitted by elemen678 to Bitcoin [link] [comments]

In Conversation with Bitcoin expert and NYU Professor David Yermack

In Conversation with Bitcoin expert and NYU Professor David Yermack submitted by unwiseau to Bitcoin [link] [comments]

The Hard-Luck Texas Town That Bet on Bitcoin—and Lost

This is the best tl;dr I could make, original reduced by 94%. (I'm a bot)
Bitmain, a Chinese company that makes specialized computers for "Mining" cryptocurrency, said it would invest $500 million in what was to be the world's largest bitcoin-mining facility at the closed Alcoa smelter, which, crucially, was still connected to massive electrical lines.
As Kyle sipped Shiner, Young remembers him talking about how Bitmain's facility could someday feature more than mining.
To optimize the chance of earning coins, the top mining operators run hundreds or thousands of miners 24/7. Imagine your electricity bill if you were constantly zapping instant oatmeal in hundreds of microwaves all day, every day.
Texas is hot and humid, which is not ideal for mining, because the computers require cooling; energy prices are about average for the US. David Yermack, an NYU finance and business professor who has studied cryptocurrency, says that other than Venezuela, where Nicolas Maduro virtually gives away electricity, "Texas is about the weirdest place I've heard for bitcoin mining."
In early January, Young heard that Bitmain would close the mining facility before it had ever gone online.
In November, central Washington-based mining company Giga Watt filed for bankruptcy, ending its multimillion-dollar plans to host miners.
Summary Source | FAQ | Feedback | Top keywords: mines#1 Bitmain#2 County#3 job#4 facility#5
Post found in /longform, /technology and /Wired_Top_Stories.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

Towards a Functional Fee Market for Cryptocurrencies

Date: 2019-01-21
Author(s): Soumya Basu, David Easley, Maureen O'Hara, Emin Gün Sirer

Link to Paper

Blockchain-based cryptocurrencies prioritize transactions based on their fees, creating a unique kind of fee market. Empirically, this market has failed to yield stable equilibria with predictable prices for desired levels of service. We argue that this is due to the absence of a dominant strategy equilibrium in the current fee mechanism. We propose an alternative fee setting mechanism that is inspired by generalized second price auctions. The design of such a mechanism is challenging because miners can use any criteria for including transactions and can manipulate the results of the auction after seeing the proposed fees. Nonetheless, we show that our proposed protocol is free from manipulation as the number of users increases. We further show that, for a large number of users and miners, the gain from manipulation is small for all parties. This results in users proposing fees that represent their true utility and lower variance of revenue for miners. Historical analysis shows that Bitcoin users could have saved $272,528,000 USD in transaction fees while miners could have reduced the variance of fee income by an average factor of 7.4 times.

Akbarpour, M. and and S. Li, 2018, Credible Mechanisms, Proceedings of the 2018 ACM Conference on Economics and Computation, 371-371.
Aune, R., A. Krellenstein, M. OHara, and O. Slama, 2017, Footprints on a Blockchain: Trading and Information Leakage in Distributed Ledgers. Journal of Trading, 12 (2), page 5-13.
Bohme, R., N. Christin, B. Edelman, and T. Moore, 2015. Bitcoin: Economics, Technology, and Governance, Journal of Economic Perspectives, 29, 213-238.
Cong, L., Z. He and J. Li, 2018, Decentralized Mining in Centralized Pools, SSRN, https://ssrn.com/abstract=3143724.
Easley, D. and J. Kleinberg, 2010, Networks, Crowds and Markets, Cambridge University Press.
Easley, D., M. O’Hara and S. Basu, 2017, From Mining to Markets: The Evolution of Bitcoin Transactions Fees, Journal of Financial Economics, forthcoming.
Edelman, B. and M. Schwartz, 2010, Optimal Auction Design and Equilibrium Selection in Sponsored Search Auctions, American Economic Review, May 2010, Vol. 100, No. 2: Pages 597-602.
Eyal, I. and E. Sirer, 2014, Majority is Not Enough: Bitcoin Mining is Vulnerable. In Financial Cryptography and Data Security, Christin, N., Safavi-Naini, R. (Eds.), Springer Heidelberg, Germany, pp. 436-454.
Gans, J. and H. Halaburda, 2015, Some Economics of Private Digital Currency. In Goldfarb, A., Greenstein, S.M., Tucker, C. E. (Eds.), Economic Analysis of the Digital Economy, University of Chicago Press, Chicago, IL, Chapter 9.
Gandel, N. and H. Halaburda, 2016, Can We Predict the Winner in a Market with Network Effects? Competition in cryptocurrency market, Games, 7 (3), 1-21.
Harvey, C., 2016, Cryptofinance, SSSRN, http://ssrn.com/abstract=2438299.
Huberman, G., J. Leshno and C. Moallemi, 2017, Monopoly Without a Monopolist: An Economic Analysis of the Bitcoin Pyament System, working paper, Columbia Business School.
Houy, N., 2014, The Bitcoin Mining Game, available at SSRN, https://ssrn.com/abstract=2407834.
Jackson, M. and I. Kremer, 2006, The Relevance of a Choice of Auction Format in a Competitive Environment, Review of Economic Studies, Volume 73, Issue 4, Pages 961-981.
Lavi, R., O. Sattath and A. Zohar, 2017, Redesigning Bitcoin’s Fee Market, arXiv:1709.08881.
Ma, J., J. Gans and R. Tourky, 2018, Market Structure in Bitcoin Mining, NBER Working Paper No 24242.
Malinova, K. and A. Park, 2016, Market Design with Blockchain Technology. SSRN, https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=2785626.
Milgrom, R., The Economics of Competitive Bidding: A Selective Survey, in Social Goal and Social Organization: Essays in Memory of Elisha Pazner, L. Hurwicz, D. Schmeidler and H. Sonnenschein (eds), Cambridge University Press, 261-289.
Myerson, R., 1981, Optimal Auction Design, Mathematics of Operations Research, Mathematics of Operations Research, Vol. 6, No. 1., pp. 58-73.
Raskin, M. and D. Yermack, 2018, Digital Currencies, Decentralized Ledgers and the Future of Central Banking. In: Conti-Brown, P., Lastra, R., (Eds.), Research Handbook on Central Banking, Edward Elgar, Publishing, 474-486.
Raskin, M. and D. Yermack, 2017. Corporate Governance and Blockchains. Review of Finance, 21, 7-31.
Rosenfeld, M, 2011, Analysis of Bitcoin Pooled Mining Reward Systems, http://arxiv.org/pdf/1112.4980v1.pdf
Swinkles, J., Efficiency of Large Private Auctions, 2001, Econometrica, 69, 37-68.
Weber, R., 1983, Multi-Object Auctions, in Auctions, Bidding, and Contracting: Uses and Theory, R. Engelbrecht-Wiggans, M. Shubik and R. Stark (eds), New York University Press, 165-191.
Yao, A., 2018, An Incentive Analysis of some Bitcoin Fee Designs, arXiv:1811.02351.
submitted by dj-gutz to myrXiv [link] [comments]

Top 10 Blockchain Technology University in U.S.

Top 10 Blockchain Technology University in U.S.
มหาวิทยาลัยหลายแห่งทั่วโลกต่างมุ่งลงทุนพัฒนาหลักสูตรด้าน Blockchain Technology ในช่วงไม่กี่ปีที่ผ่านมา ซึ่งได้มีการจัดอันดับมหาวิทยาลัยที่ดีที่สุดในสหรัฐอเมริกา โดย Coindesk จะเป็นมหาวิทยาลัยอะไรบ้างนั้น ไปดูกันเลย
เข้ายากเกิน ? ค่าเรียนแพง? ไม่ถนัดอังกฤษ ? ทาง Bitkub Academy เปิดให้ศึกษาเบื้องต้นผ่าน Youtube คลิก subscribe ได้ที่ >> https://www.youtube.com/c/bitkubofficial

1. Stanford
อันดับแรกเป็นของ Stanford University ซึ่งมีคอร์ส “Digital Currency and Cybercrime” ที่ให้นักศึกษาจากคณะกฎหมาย ธุรกิจ และวิทยาศาสตร์คอมพิวเตอร์ของสแตนฟอร์ดได้ร่วมกันศึกษาคอร์สนี้
ผู้นำในอุตสาหกรรม cryptocurrency เช่น นาย Balaji Srinivasan อดีต CEO ของEarn.com และ CTO ปัจจุบันของ Coinbase ได้ร่วมสอนหลักสูตรเกี่ยวกับ Bitcoin ในคณะวิทยาศาสตร์ สาขาวิชาวิทยาการคอมพิวเตอร์
นอกจากนี้ Stanford ยังได้รับการสนับสนุนเงินทุนจากอุตสาหกรรมเทคโนโลยีบล็อกเชน เช่น Ethereum Foundation และหน่วยงานอื่นๆ ได้ให้การสนับสนุน Stanford Center for Blockchain Research ซึ่งเป็นโครงการห้าปีที่ทุ่มเทให้กับการพัฒนาเทคโนโลยีบล็อกเชน

2. University of California, Berkeley
อันดับสองเป็นของ University of California, Berkley ซึ่งแสดงให้เห็นว่า ถึงแม้จะเป็นมหาลัยรัฐแต่ยังสามารถอยู่ในระดับแนวหน้าของเทคโนโลยีที่เกิดขึ้นใหม่ได้ โดยไม่เรียกเก็บค่าเล่าเรียนที่สูงเหมือนกับมหาลัยเอกชน ทั้งนี้ UC Berkeley เด่นในด้านวิศวกรรมศาสตร์ และ มีหลักสูตรด้านวิทยาศาสตร์คอมพิวเตอร์ระดับสูงมากมายที่ให้นักศึกษาสามารถเข้าเรียนได้
อย่างไรก็ตาม มหาลัยเสนอหลักสูตรที่มีชื่อว่า “Blockchain, Cryptoeconomics, and the Future of Technology, Business and Law” หลักสูตรนี้จะดึงวิทยากรจากภาคธุรกิจคริปโต คณะวิทยาศาสตร์คอมพิวเตอร์ และคณะนิติศาสตร์ มาร่วมสอนด้วย

3. New York University
อันดับสามเป็นของ New York University (NYU) หนึ่งในมหาลัยแห่งแรกที่เสนอหลักสูตรที่เกี่ยวกับบล็อกเชน ตั้งแต่ปี 2014 อาจารย์ David Yermack และ Geoffrey Miller ได้เสนอหลักสูตร “Digital Currency, Blockchains and the Future of Financial Services” ซึ่งมุ่งเน้นไปที่ “บทบาทใหม่ของสกุลเงินดิจิทัลและ blockchains ในด้านการเงิน การธนาคาร และเศรษฐกิจที่แท้จริง”
NYU ยังเป็นมหาวิทยาลัยแห่งแรกที่สนับสนุนงาน Bitcoin Hackathon ในปี 2014 ซึ่งได้รับความร่วมมือจาก Leslie Entrepreneurs Lab และบริษัท Chain and Blockchain

4. Massachusetts Institute of Technology
อันดับสี่เป็นของ Massachusetts Institute of Technology (MIT) หลักศูตรของ MIT เหมาะสำหรับนักศึกษาที่สนใจในด้านพื้นฐานทางเทคนิคของคริปโตเคอเรนซี่และเทคโนโลยีบล็อกเชน ด้วยหลักสูตรเช่น “Cryptocurrency Engineering and Design” สอนโดย นาย Tadge Dryja ผู้ร่วมเขียนหนังสือ Lightning Network และอดีต CTO ของ Lightning Labs และ Neha Narula ผู้อำนวยการโครงการ Digital Currency Initiative (DCI) ของ MIT ทั้งนี้ นักเรียนจะได้รับการอบรบและสัมผัสกับเทคโนโลยีใหม่ในอุตสหกรรมบล็อกเชนอยู่ตลอดเวลา
5. Cornell University
อันดับห้าเป็นของ Cornell University ที่นำหลักสูตรวิทยาศาสตร์คอมพิวเตอร์ชั้นนำบางส่วนมาผสมกับคอร์ส “Blockchains, Cryptocurrencies and Smart Contracts” ซึ่งสอนโดย นาย Ari Juels และ Rafael Pass และอีกคอร์ส “Distributed Consensus and Blockchains” สอนโดย อาจารย์ E. Shi

6. Georgetown University
อันดับหกเป็นของ Georgetown University ซึ่งเป็นมหาวิทยาลัยที่มีชื่อเสียงในด้านวิทยาศาสตร์และธุรกิจ มากกว่าความสามารถด้านวิศวกรรมศาสตร์ Georgetown University เน้นสอนด้านกฎหมายที่เกี่ยวกับคริปโตเคอเรนซี โดยการใช้ประโยชน์จากคอนเนคชั่นกับหน่วยงานกำหนดนโยบายในกรุงวอชิงตัน ดี.ซี.
หลักสูตร blockchain ส่วนใหญ่จะเชื่อมโยงกับคณะนิติศาสตร์ยของมหาวิทยาลัย ซึ่งนักเรียนสามารถลงทะเบียนเรียนในหลักสูตรเช่น “Cryptocurrencies, Initial Coin Offerings and the Law Seminar.” นาย Chris Brummer ซึ่งได้รับการเสนอชื่อเข้าชิงสองครั้งเพื่อทำหน้าที่เป็นประธานคณะกรรมาธิการซื้อขายสัญญาล่วงหน้าสินค้าโภคภัณฑ์ จะมาร่วมสอนคอร์สนี้ด้วย
7. Harvard University
อันดับเจ็ดเป็นของ Harvard University มีคอร์สทางด้านวิทยาการคอมพิวเตอร์ เช่น “Introduction to Blockchain and Bitcoin” ที่สอนโดย นาย Julian Avila รวมถึงหลักสูตรธุรกิจที่เกี่ยวข้องกับเทคโนโลยี Blockchain เรียกว่า “Entrepreneurship and Innovation” ซึ่งสอนโดย นาย James C. Fitchett

8. Duke University
อันดับแปดเป็นของ Duke University หลักศูตร Blockchain ของมหาวิทยาลัยนี้ได้เกิดขึ้นจากความพยายามของศาสตราจารย์ Dr. Campbell Harvey ในปี 2014 เขาได้เปิดตัวคอร์สที่ชื่อว่า “Innovation and Cryptoventures” และคาดว่า ในปี 2018 มากกว่าครึ่งของนักศึกษาในคณะธุรกิจได้ลงเรียนคอร์สนี้ก่อนที่จะสำเร็จการศึกษา

9. Carnegie Mellon University
อันดับเก้าเป็นของ Cargenie Mellon University มีคอร์สเกี่ยวกับบล็อกเชนที่ได้รับความสนใจจากนักษาเป็นอย่างมาก เช่น “Cryptocurrencies, Blockchains and Applications” สอนโดย Nicolas Christin และ Kyle Soska คอร์สนี้จะครอบคลุมทั้งด้านเทคโนโลยี กฎหมาย และธุรกิจที่เกี่ยวข้องกับบล็อกเชน

10. University of Pennsylvania
อันดับสิบเป็นของ University of Pennsylvania (UPenn) ถึงแม้ยังไม่มีคอร์สบล็อกเชนที่มากมายเท่ากับมหาวิทยาลัยอื่นๆ แต่ UPenn ยังมี Blockchain Club ที่เป็นชุมชนให้กับนักศึกษาที่สนใจในเทคโนโลยีบล็อกเชน และมีนาย Kevin Werbach ซึ่งเป็นศาสตราจารย์ด้านการศึกษากฎหมาย ได้ช่วยส่งเสริมการเติบโตของบล็อกเชนในมหาวิทยาลัยอีกด้วย

For more news please visit: https://www.bitkub.com/
submitted by BitkubExchange to bitkubofficial [link] [comments]

Your Daily Crypto-News Recap: 97 of Top 100 Cryptocurrencies in the Green as Total Crypto Market Cap Adds $20 billion in 2 Days

https://www.ccn.com/candidate-receives-first-ever-bitcoin-donation-to-a-political-campaign-in-taiwan/ https://www.newsbtc.com/2018/09/21/nyu-professor-us-regulators-compete-for-crypto-turf-control-impractical/ https://cointelegraph.com/news/bitcoin-seller-fatigue-means-market-has-bottomed-michael-novogratz-tells-yahoo https://btcmanager.com/altonomy-cryptoasset-management-firm-launches-sell-side-otc-trading-desk/ https://www.ccn.com/california-watchdog-bans-bitcoin-donations-in-political-campaigns/ https://cointelegraph.com/news/crypto-payment-gateway-supports-largest-global-meditation-waives-fees-for-users-who-help https://cointelegraph.com/news/streaming-platform-for-gamers-starts-public-beta-testing-of-its-own-blockchain https://www.ccn.com/blockchain-for-35-million-users-koreas-biggest-insurance-firm-sk-partners-with-icon/ https://www.ccn.com/sec-director-vows-more-substantial-enforcement-against-illegal-icos/ https://cointelegraph.com/news/us-sec-asks-for-further-comment-regarding-vaneck-bitcoin-etf https://bitcoinist.com/bitcoin-etf-delayed-comments/ https://www.ccn.com/binance-coinbase-on-hiring-spree-despite-bear-market-sign-of-rapid-growth/ https://www.coindesk.com/venezuela-to-adopt-controversial-petro-token-in-global-trade/
submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

For those interested in Bitcoins

If you happen to be in Perth this free event might be interesting:
PUBLIC LECTURE: Is Bitcoin really a currency?
Is Bitcoin really a currency? : A public lecture with Professor David Yermack from New York University
Bitcoin is a "virtual currency” made possible by the internet. One attraction for many is that the creation and use of Bitcoin as a currency is that is independent of any bank. But, is Bitcoin a valid currency or is it a speculative investment? Professor David Yermack provides an informed, unbiased perspective on this issue.
Professor Yermack is the Albert Fingerhut Professor of Finance and Business Transformation at New York University Stern School of Business and also Director, Pollack Center New York University School of Law.
Location: Wesfarmers Lecture Theatre, UWA Business School Thu, 28 Aug 2014 18:30
http://events.uwa.edu.au/event/[email protected]/whatson/events
submitted by daydreamy to AusFinance [link] [comments]

Quark price bump is due to real investors seeing the light on distribution and expanding education.

probably due to the Frozen bit announcement and these 2 recent blogs
submitted by _k_digi to QuarkOmega [link] [comments]

Awesome story Daniel M. Harrison - but I wonder if the answer is a much simpler one?


Namely as I predicted that the total monopoly on Bitcoin mining has been basically "hostile taken over" by large Chinese miners, and they are now essentially controlling the monopoly on production.
Quark insiders that have gained a lot of education on Crypto see this as "common knowledge", but if you like to read and learn:
Skip to "welcome to planet Crypto currency" to lean how a monopoly on difficulty works.
Want to see what a "sped up" Crypto currency distribution looks like?
Also want to understand more about what a "51% attack means"
Here is where i spoke about the "more adoption less price" vector CITI commented on, it's more about that monopoly than "Merchants" though.
Would love feedback, sorry about any English errors !
: D
submitted by _k_digi to QuarkOmega [link] [comments]

Fãs das Bitcoins em Wall Street procuram ganhar moeda

Entusiastas estão comprando e conservando a moeda virtual, apostando que ela chegará a novos recordes
Washington - Após desenvolver uma fascinação pelas moedas digitais, Jonathan Silverman largou seu emprego como gerente de fundos no Morgan Stanley em maio para arrumar outro como operador das moedas virtuais.
Como diretor de operações em uma bolsa de Bitcoins, Silverman, de 25 anos, uniu-se a um grupo de corretores de Wall Street, analistas, hedge funds e outros especuladores que estão apostando na nova moeda. Eles são atraídos pelo crescente valor da Bitcoin – que aumentou cerca de 50 vezes no ano passado – e pela novidade de serem pioneiros em um novo reino das finanças.
“Acho que a Bitcoin será a primeira moeda codificada, mas não a última”, disse Silverman em uma entrevista. “Será um ativo seguro primordial”.
Até agora, a Bitcoin, uma invenção volátil e pouco compreendida, é tudo menos segura. A pressão regulatória sobre a tomada de riscos de Wall Street e as reduções de empregos e salários na indústria desde a crise financeira elevaram o atrativo da moeda virtual para os banqueiros que procuram lucros em outras partes.
Alguns entusiastas da Bitcoin estão comprando e conservando a moeda, apostando que ela chegará a novos recordes. Outros estão abrindo empresas para operar, trocar ou armazenar Bitcoins. Ainda há outros que estão acumulando capital de risco do Vale do Silício e de outros lugares no intuito de investirem em negócios ligados às Bitcoins. Na grande maioria, tratam-se de indivíduos, não de grandes empresas.
“Eles estão liderando o restante de Wall Street”, disse Barry Silbert, fundador e diretor da SecondMarket Inc., uma corretora de Nova York que administra um fundo de moedas virtuais. “Eles estão entusiasmados com a Bitcoin”.
Alguns céticos
Os céticos com as Bitcoins não veem muito mais do que uma nova bolha financeira. Em um artigo feito no mês passado para a Secretaria Nacional de Pesquisa Econômica, o economista David Yermack escreveu que embora as Bitcoins sejam cada vez mais aceitas como meio de troca pelos comerciantes, elas não possuem duas características de toda moeda: são voláteis demais como unidade contábil ou como reserva de valor.
Os reguladores deram sinais ambíguos. Ainda que as agências americanas dissessem que a Bitcoin pode ser considerada um meio legítimo de troca, países como a China e os EUA fecharam algumas bolsas e países escandinavos impuseram restrições.
A repressão regulatória não suprimiu o interesse pelas Bitcoins em Wall Street, disse Jonathan Mohan, fundador da BitcoinNYC, um grupo de redes de comunicações. Uma festa na véspera do Ano Novo perto da Bolsa de Nova York atraiu 150 pessoas para um lugar atualmente chamado NYC Bitcoin Center, onde novas companhias podem alugar escritórios e finalmente trocar Bitcoins pessoalmente, disse Mohan.
Embora aumente o interesse de Wall Street, também aumenta o de Occupy Wall Street, o grupo de protestos que acampou durante meses no Zucotti Park de Nova York em 2011 para protestar contra a influência dos bancos. Os ativistas do Occupy veem a Bitcoin como uma forma de contornar um sistema bancário de que não gostam, tornando mais complexo o trabalho de ligação de Mohan.
“É muito difícil ter banqueiros e o pessoal do Occupy Wall Street na mesma sala”, disse Mohan.
Resultados diversos
Os primeiros dias da Bitcoin produziram resultados diversos para os entusiastas de Wall Street. Silverman, que gerenciou fundos negociados em bolsa durante a maior parte dos três anos que trabalhou no Morgan Stanley, dividia um apartamento em Manhattan com um operador do Goldman Sachs Group Inc. chamado Fred Ehrsam. Em 2012, Ehrsam mudou-se para San Francisco para fundar a Coinbase Inc., uma startup de San Francisco. Neste mês, a Coinbase obteve o maior investimento até agora para uma startup de Bitcoins, US$ 25 milhões.
Silverman não teve tanta sorte. Ele perdeu o emprego quando a bolsa para a qual trabalhava, a Tradehill, de San Francisco, não conseguiu achar um banco que administrasse as trocas de e para dólares. Destemido, agora Silverman está trabalhando em novos empreendimentos com moedas virtuais enquanto estuda a literatura econômica sobre o dinheiro.
“Eu adorava as bolhas quando estava em Wall Street e continuo adorando”, disse Silverman.
submitted by brasilbitcoin to BrasilBitcoin [link] [comments]

Why Blockchain Poses an 'Existential Threat' to Commercial Banks  NYU Professor of Finance Impact of Cryptocurrencies on Financial Markets by Prof David Yermack David Yermack on blockchain technology David Yermack on Blockchains Ideas Never Sleep // Extra - Cryptocurrency 101: Who is Satoshi Nakamoto?

David Yermack. NBER Working Paper No. 19747 Issued in December 2013, Revised in April 2014 NBER Program(s):Law and Economics, Monetary Economics. A bona fide currency functions as a medium of exchange, a store of value, and a unit of account, but bitcoin largely fails to satisfy these criteria. Bitcoin has achieved only scant consumer transaction volume, with an average well below one daily ... Is Bitcoin a Real Currency? David Yermack * Department of Finance New York University Stern School of Business December 1, 2013 Abstract: Motivated by Bitcoin’s rapid appreciation in recent weeks, I examine its historical trading behavior to see whether it behaves like a traditional sovereign currency. Bitcoin has exchange rate volatility an order of magnitude higher than the volatilities of ... David Yermack. Yermack, also an early Bitcoin observer, was likewise struck by the technological elegance of the currency. Every bitcoin transaction appears in a permanent public ledger called the block chain, published to all nodes in the Bitcoin network as a novel solution to prevent fraudulent double-spending of the same bitcoin. “I was intrigued by the logic behind it and the ambition of ... Despite Bitcoin’s current downturn, ... Professor David Yermack from NYC Stern School of Business was an early teacher of blockchain and crypto tech on the university’s MBA program suggests business schools will have to update their curricula due to the rapid rate in which the markets are moving. His current class has doubled over the past year and lessons are conducted at a larger ... David L. Yermack is the Albert Fingerhut Professor of Finance and Business Transformation at New York University Stern School of Business. He serves as Chairman of the Finance Department and Director of the NYU Pollack Center for Law and Business. Professor Yermack teaches joint MBA - Law School courses in Restructuring Firms & Industries and Bitcoin & Cryptocurrencies, as well as PhD research ...

[index] [27170] [4978] [36772] [44828] [1330] [37467] [7506] [46429] [39050] [31341]

Why Blockchain Poses an 'Existential Threat' to Commercial Banks NYU Professor of Finance

Professor David Yermack joined us to tell us all about cryptocurrency and Bitcoin. While the mysterious story of Satoshi Nakamoto didn't make the final cut, this shadowy figure was too fascinating ... Prof David Yermack Albert Fingerhut Professor of Finance and Business Transformation Chairman, Finance Department Director, NYU Pollack Center for Law and Bu... Albert Fingerhut Professor of Finance and Business Transformation at the NYU Stern School of Business David Yermack explains the future of cryptocurrencies and how blockchain can disrupt or even ... Interview with David Yermack on the impact of blockchain technology. Category Education; ... Bitcoin, Blockchain and Banking - Duration: 8:35. Money School 86 views. 8:35. Nobel Prize-Winning ... David Yermack on the Blockchain and the Future of Finance (Part 1 of 3) - Duration: 1 ... The Value of Bitcoin: Introducing the First Cryptocurrency Asset Pricing Model - Duration: 15:43 ...