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Bitcoin Spreads Like a Virus
Citation DataSSRN Electronic Journal
Publication Year2019
2
Citations
46,621
Usage
42
Captures
9
Mentions
907
Social Media
Metric Options:   
Counts
1 Year
3 Year
Metrics Details
CITATIONS2
Citation Indexes
2
SSRN2
CrossRef1
USAGE46,621
Abstract Views
38,439
SSRN38,439
Downloads
8,181
SSRN8,181
Clicks
1
Bitly1
CAPTURES
42
Readers
42
SSRN28
Mendeley14
MENTIONS9
News Mentions
8
8
References
1
1
SOCIAL MEDIA907
Tweets
840
840
Shares, Likes & Comments
67
Facebook67
RATINGS
Download Rank829
SSRN829
Most Recent Tweet
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Article Description
In this paper we provide a mathematical derivation that links traditional time-value-of-money concepts to Metcalfe value, and use Bitcoin, Facebook as numerical examples of the proof. There is compelling evidence that suggests that the growth and price of bitcoin and other cryptocurrencies are likely to proceed according to a relatively straightforward mathematical model similar to the growth curves of Facebook and other networks. Using observed data for Bitcoin, we derive the relationships between price, number of users, and time, and show that the resulting market prices likely follow a Gompertz sigmoid growth function. This function, historically used to describe the growth of biological organisms like bacteria, tumors, and viruses, likely has some application to network economics. We conclude that the long-term growth rate in users has considerable effect on the long-term price of bitcoin.
Bibliographic Details
DOI​10.2139/ssrn.3356098
SSRN ID3356098
URL ID​https://www.ssrn.com/abstract=3356098​; http://dx.doi.org/10.2139/ssrn.3356098​; https://dx.doi.org/10.2139/ssrn.3356098​; https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3356098​; https://ssrn.com/abstract=3356098
AUTHOR(S)
Timothy Peterson
PUBLISHER(S)
Elsevier BV
TAG(S)
bitcoin; cryptocurrency; valuation; growth model; network economics; network effect; Metcalfe's Law
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