Cryptocurrency: Value Formation Factors and Investment Risks

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dc.contributor.authorPakhnenko, Olena
dc.contributor.authorRubanov, Pavlo
dc.contributor.authorGirzheva, Olga
dc.contributor.authorIvashko, Larysa M.
dc.contributor.authorBritchenko, Igor
dc.contributor.authorKozachenko, Liliia
dc.contributor.authorІвашко, Лариса Михайлівна
dc.contributor.authorИвашко, Лариса Михайловна
dc.date.accessioned2022-10-11T12:12:35Z
dc.date.available2022-10-11T12:12:35Z
dc.date.issued2022
dc.description.abstractScientific sources demonstrate different attitudes of researchers to cryptocurrencies because they treat them as a category of currency, virtual money, commodity, etc. Accordingly, the relation to the valuation and risk of cryptocurrency as an investment object is different. The purpose of the article is to identify cryptocurrency value formation factors and determine the risks of investing in cryptocurrency. Cryptocurrency is simultaneously considered a currency, an asset with uncertain income, and a specific product, the price of which is determined by the energy costs for mining new cryptocurrency blocks. Thus, the paper examines the risks of investing in cryptocurrency from several positions. First, the study identifies the factors of formation of the value and risk of cryptocurrency as ordinary money based on comparing cryptocurrency with traditional money. Unlike traditional money, cryptocurrency is not tied to the economic performance of a particular country; also, central banks do not control or regulate their mining. Instead, the cryptocurrency emissions depend on the computational capacity of the equipment used for their mining. As a financial asset, cryptocurrency can be a “financial bubble” because their value increasing often exceeds the cost of mining. On the other hand, given the emergence of cryptocurrency as a phenomenon of the information economy, the paper analyses the impact of specific technical features (cryptographic hashing algorithm, the complexity of creating new blocks, the technology of verification of mining operations, etc.) on the risk of investing in cryptocurrency assets.uk_UA
dc.identifierhttps://doi.org/ 10.22059/jitm.2022.88896
dc.identifier.citationJournal of Information Technology Managementuk_UA
dc.identifier.urihttps://dspace.onu.edu.ua/handle/123456789/33882
dc.language.isoenuk_UA
dc.relation.ispartofseries;Is. 14(Special Issue).
dc.subjectCryptocurrencyuk_UA
dc.subjectDigital currencyuk_UA
dc.subjectBitcoinuk_UA
dc.subjectBlockchainuk_UA
dc.subjectRiskuk_UA
dc.subjectFinancial servicesuk_UA
dc.subjectFinancial assetuk_UA
dc.subjectInvestmentuk_UA
dc.titleCryptocurrency: Value Formation Factors and Investment Risksuk_UA
dc.typeArticleuk_UA
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