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| 01768nam 2200301za 4500 |
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| 001 | 9.823449 |
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| 003 | CaOODSP |
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| 005 | 20221107143911 |
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| 007 | cr ||||||||||| |
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| 008 | 160831s2016 oncd ob f000 0 eng d |
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| 040 | |aCaOODSP|beng |
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| 041 | |aeng|bfre |
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| 043 | |an-cn--- |
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| 086 | 1 |aFB3-5/2016-42E-PDF |
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| 100 | 1 |aBolt, Wilko. |
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| 245 | 10|aOn the value of virtual currencies |h[electronic resource] / |cby Wilko Bolt and Maarten R.C. van Oordt. |
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| 260 | |a[Ottawa] : |bBank of Canada, |cc2016. |
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| 300 | |aii, 35 p. : |bgraphs. |
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| 490 | 1 |aStaff Working Paper, |x1701-9397 ; |v2016-42 |
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| 500 | |a"August 2016." |
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| 504 | |aIncludes bibliographical references. |
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| 520 | 3 |a"This paper develops an economic framework to analyze the exchange rate of virtual currency. Three components are important: first, the current use of virtual currency to make payments; second, the decision of forward-looking investors to buy virtual currency(thereby effectively regulating its supply); and third, the elements that jointly drive future consumer adoption and merchant acceptance of virtual currency. The model predicts that, as virtual currency becomes more established, the exchange rate will become less sensitive to the impact of shocks to speculators’ beliefs. This undermines the notion that excessive exchange rate volatility will prohibit widespread use of virtual currency."-Abstract. |
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| 546 | |a(Résumé en français). |
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| 692 | 07|2gccst|aCurrency |
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| 700 | 1 |aVan Oordt, Maarten R. C. |
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| 710 | 2 |aBank of Canada. |
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| 830 | #0|aStaff working paper (Bank of Canada)|x1701-9397 ; |v2016-42|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s496 KB|uhttps://publications.gc.ca/collections/collection_2016/banque-bank-canada/FB3-5-2016-42-eng.pdf |
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