Bitcoin : something seems to be 'fundamentally' wrong

Borradores de Economia
Number: 
819
Published: 
Classification JEL: 
E42, G12, G23
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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In the present paper we remark that the absence of an intrinsic or fundamental value represents a problem for the stability of the bitcoin’s price as an asset. In addition, we consider some financial stability concerns that derive from the hypothesis that