In this paper, we present a method for predicting the value of virtual currencies used in virtual gaming environments that support multiple users, such as massively multiplayer online role-playing games (MMORPGs). Predicting virtual currency values in a virtual gaming environment has rarely been explored; it is difficult to apply real-world methods for predicting fluctuating currency values or ...

In this paper we revisit some major orthodoxies which lie at the heart of the bitcoin crypto currency and its numerous clones. In particular we look at The Longest Chain Rule, the monetary supply policies and the exact mechanisms which implement them. We claim that these built-in properties are not as brilliant as they are sometimes claimed. A closer examination reveals that they are closer to ...

In this paper we utilize the main findings from the recent literature to set the economic foundation for the existence of money, its modern interpretation as “memory” (Chokerlakota 1998) and how the Blockchain technology has empowered crypto currencies to perform this role in the information age.  To locate the issue in a historical perspective and in line with this strand of thought, we consid...

We investigate the structure of the currencies (systems of coins) for which the greedy change-making algorithm always finds an optimal solution (that is, a one with minimum number of coins). We present a series of necessary conditions that must be satisfied by the values of coins in such systems. We also uncover some relations between such currencies and their sub-currencies.

Digital currencies are a globally spreading phenomenon that is frequently and also prominently addressed by media, venture capitalists, financial and governmental institutions alike. As exchange prices for Bitcoin have reached multiple peaks within 2013, we pose a prevailing and yet academically unaddressed question: What are users' intentions when changing their domestic into a digital currenc...

Evolutionary studies often assume that energy is the primary resource (i.e. "currency") at the heart of the survival-reproduction trade-off, despite recent evidence to the contrary. The evolutionary consequences of having a single trade-off currency versus multiple competing currencies are unknown. Using simulations, we modeled the evolution of either a single physiological currency between rep...

This paper investigates the emerging influence of the Chinese renminbi on the exchange rate movements of East Asian currencies. China stopped pegging her currency to the US dollar and moved into a managed floating exchange rate system on July 21, 2005. The change in China’s exchange rate regime opens a window of opportunity to investigate the influence of renminbi on the exchange rate movements...

Analysis of the currency networks is not easy as the transactions are not centralized but rather take place over a large number of banks and commercial entities. Digital crypto currencies, however, require a public ledger to work and provide an opportunity for analysis of currency transactions. A crypto currency is a medium of exchange using cryptography to secure the transactions and to contro...

In this paper we develop a model to identify real exchange rate and output shocks in the African CFA Franc Zone and in Dollar-pegging Caribbean countries (including members of the East Caribbean Currency Union). These two groups of countries each comprise states using several different local currencies: on the one hand the BCEAOCFA Franc and the BEAC-CFA Franc (both pegged to the Euro), on the ...

We consider an international financial market model that consists of N currencies. The purpose is to derive a no arbitrage condition which is not affected by the choice of numéraire between the N currencies. As a result, we show that a finiteness condition for an arbitrary chosen currency and the no arbitrage condition for the basket currency are necessary and sufficient for the no arbitrage pr...