{"title":"谁想要加密货币?预期和猜想的影响","authors":"Tobias Rötheli","doi":"10.1108/fs-01-2024-0023","DOIUrl":null,"url":null,"abstract":"Purpose\nThis study aims to investigate the factors that make people want to hold cryptocurrency. Besides prior experience with holding crypto, this paper considers various expectations and conjectures about the future as key determinants.\n\nDesign/methodology/approach\nData for this study come from an online survey in the USA. Econometric analyses help to quantify the relative importance of drivers of demand for cryptocurrency.\n\nFindings\nSurvey respondents will more likely hold cryptocurrency in the future the more they expect cryptocurrency to replace government money, to increase transparency in monetary affairs and to yield high profits. Importantly, demand is shown to be driven by the anticipation that nonmonetary uses of the Blockchain technology will have a spillover effect on the Bitcoin price. By contrast, subjective expectations of a crypto-induced financial crisis dampen demand. Econometric analyses show that differences in the future demand among people with and without prior holdings of cryptocurrency largely stem from differences in their expectations.\n\nOriginality/value\nBy relating individuals’ expectations to their plans, the present approach offers more insights than the mere attitude surveys already available. This paper’s insights on crypto demand drivers indicate that regulators should be wary about signaling safety of an asset whose fundamental value is still uncertain.\n","PeriodicalId":2,"journal":{"name":"ACS Applied Bio Materials","volume":"55 38","pages":""},"PeriodicalIF":4.6000,"publicationDate":"2024-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Who wants cryptocurrency? The effects of expectations and conjectures\",\"authors\":\"Tobias Rötheli\",\"doi\":\"10.1108/fs-01-2024-0023\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Purpose\\nThis study aims to investigate the factors that make people want to hold cryptocurrency. Besides prior experience with holding crypto, this paper considers various expectations and conjectures about the future as key determinants.\\n\\nDesign/methodology/approach\\nData for this study come from an online survey in the USA. Econometric analyses help to quantify the relative importance of drivers of demand for cryptocurrency.\\n\\nFindings\\nSurvey respondents will more likely hold cryptocurrency in the future the more they expect cryptocurrency to replace government money, to increase transparency in monetary affairs and to yield high profits. Importantly, demand is shown to be driven by the anticipation that nonmonetary uses of the Blockchain technology will have a spillover effect on the Bitcoin price. By contrast, subjective expectations of a crypto-induced financial crisis dampen demand. Econometric analyses show that differences in the future demand among people with and without prior holdings of cryptocurrency largely stem from differences in their expectations.\\n\\nOriginality/value\\nBy relating individuals’ expectations to their plans, the present approach offers more insights than the mere attitude surveys already available. This paper’s insights on crypto demand drivers indicate that regulators should be wary about signaling safety of an asset whose fundamental value is still uncertain.\\n\",\"PeriodicalId\":2,\"journal\":{\"name\":\"ACS Applied Bio Materials\",\"volume\":\"55 38\",\"pages\":\"\"},\"PeriodicalIF\":4.6000,\"publicationDate\":\"2024-08-09\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"ACS Applied Bio Materials\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1108/fs-01-2024-0023\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"MATERIALS SCIENCE, BIOMATERIALS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"ACS Applied Bio Materials","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1108/fs-01-2024-0023","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"MATERIALS SCIENCE, BIOMATERIALS","Score":null,"Total":0}
Who wants cryptocurrency? The effects of expectations and conjectures
Purpose
This study aims to investigate the factors that make people want to hold cryptocurrency. Besides prior experience with holding crypto, this paper considers various expectations and conjectures about the future as key determinants.
Design/methodology/approach
Data for this study come from an online survey in the USA. Econometric analyses help to quantify the relative importance of drivers of demand for cryptocurrency.
Findings
Survey respondents will more likely hold cryptocurrency in the future the more they expect cryptocurrency to replace government money, to increase transparency in monetary affairs and to yield high profits. Importantly, demand is shown to be driven by the anticipation that nonmonetary uses of the Blockchain technology will have a spillover effect on the Bitcoin price. By contrast, subjective expectations of a crypto-induced financial crisis dampen demand. Econometric analyses show that differences in the future demand among people with and without prior holdings of cryptocurrency largely stem from differences in their expectations.
Originality/value
By relating individuals’ expectations to their plans, the present approach offers more insights than the mere attitude surveys already available. This paper’s insights on crypto demand drivers indicate that regulators should be wary about signaling safety of an asset whose fundamental value is still uncertain.
期刊介绍:
ACS Applied Bio Materials is an interdisciplinary journal publishing original research covering all aspects of biomaterials and biointerfaces including and beyond the traditional biosensing, biomedical and therapeutic applications.
The journal is devoted to reports of new and original experimental and theoretical research of an applied nature that integrates knowledge in the areas of materials, engineering, physics, bioscience, and chemistry into important bio applications. The journal is specifically interested in work that addresses the relationship between structure and function and assesses the stability and degradation of materials under relevant environmental and biological conditions.