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Dynamics of Bitcoin mining profitability and its break-even electricity costs
Pěnkavová, Markéta ; Krištoufek, Ladislav (advisor) ; Hronec, Martin (referee)
The aim of this thesis is to investigate the Bitcoin mining profitability throughout the years 2014 to 2020 with the focus on the year 2020. The analysis is based on the break-even electricity price estimates which are obtained by using a set of variables entering the Bitcoin mining process such as the block reward, transaction fees, network hash rate or power consumption. The calculations are performed under the assumption that miner owns the most efficient mining hardware available at the time while disregarding the original investments in the necessary hardware. To further examine the relationship between the estimated break-even electricity price and the Bitcoin market price the cointegration analysis is performed employing a vector error correction model as the series seem to be nonstationary. The final results illustrate the substantial effect the Bitcoin market price has on the break-even electricity price estimates to the extent that there is rather long-term reaction in the break-even electricity price values to the shocks in the Bitcoin market price. The findings from the research offer insights to the Bitcoin mining process suggesting that an access to extremely low electricity prices is needed to earn any profits from the Bitcoin mining activity in 2020.
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Ekonomická efektivnost podnikání s kryptoměnami
Mach, Zdeněk
The aim of this bachelor thesis is to introduce the reader to investment opportunities in the field of cryptoccurencies with focus on Bitcoin. In the introductory part are first defined basic terms, characteristics, and the most famous types of cryptoccurencies. In the following chapters is presented a detailed overview of investment options including primarily mining and speculations on future price developments. Due to the high volatility of exchange rates, the empirical part of the thesis deals only with mining. The established procedure of the whole process serves for a comprehensive analysis of available markets and variable and fixed costs. The established procedure of the whole process serves for a comprehensive analysis of available markets and variable and fixed costs. In order to maximize the chances of achieving economic efficiency, the most suitable variant of the mining machine will be used. By modifying the variables influencing mining, the relevance of the entire calculation is increased. After evaluating the total costs and revenues, the profitability of the investment is subsequently evaluated. The final part not only proposes possible solutions to problems, future development of mining, but also mentions other problematic areas of this business.
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Kryptomeny
Baran, Mojmír
Baran, M. Cryptocurrencies. Bachelor thesis. Brno: Mendel University, 2009. The aim of the bachelor thesis is to evaluate the potential usability of crypto-currencies as a financial instrument. The thesis deals with three selected crypto-currencies: Bitcoin, Litecoin and Ripple. The theoretical basis of work is focused on presentation of each cryptocurrency and the basic principles of their functio-ning. The empirical part of the thesis contains an analysis of the price development on the basis of which the impacts on the value of the cryptocurrencies are identifi-ed along with calculation of the indices of the investment triangle and the sharpe ratio for each of the cryptocurrencies while providing a subsequent evaluation.
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Kryptoměny - faktory, vývoj a rizika
Opršálová, Petra
Bc. Opršálová, P. Cryptocurrencies – factors, development and risks. Diploma thesis, Brno: Mendel university in Brno, 2019. The diploma thesis discusses cryptocurrencies, mostly about bitcoin and factors that influence its price. Firstly, is introduced the basic concepts, history, development, risks and benefits of cryptocurrency. Subsequently, the best-known cryptocurrency of bitcoin is described, and the area of cryptocurrency regulation is analysed worldwide and in the Czech Republic. The core of the diploma thesis is an empirical part, which identify factors by regression analysis and the influence of individual factors on the bitcoin price and assess whether cryptocurrencies behave more like commodities than currency.
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Algorithmization for decision support
Šišlák, Petr ; Budík, Jan (referee) ; Dostál, Petr (advisor)
The bachelor thesis is focused on the development of price indicators, which are used for effective trading on the stock exchange. Part of the work is a technical analysis of the selected currency pair at a chosen time and based on the results of create effective indicators and test them at different time intervals.
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Tax and Accounting Aspects of Cryptocurrency Operations
Novotný, Ladislav ; Pěta, Jan (referee) ; Svirák, Pavel (advisor)
This work deals with the characteristics of accounting and tax issues of cryptocurrency operations - cryptocurrencies. The work characterizes the properties and principles of cryptocurrency. It also describes in detail the legal, accounting and tax issues of cryptocurrencies and cryptocurrency operations. It focuses on the specifics of accounting issues such as cryptocurrency reporting, valuation and accounting records, specifics of value added tax, taxation of income from cryptocurrency operations and more. Based on the findings, the work defines the issue of cryptocurrencies and cryptocurrency operations, including reporting, and defines recommendations mainly in accounting and tax areas. Based on this, model examples of cryptocurrency operations are created.
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Platform for Cryptocurrency Address Collection
Bambuch, Vladislav ; Pluskal, Jan (referee) ; Veselý, Vladimír (advisor)
Cílem této práce je vytvořit platformu pro sběr a zobrazování metadat o kryptoměnových adresách z veřejného i temného webu. K dosažení tohoto cíle jsem použil technologie zpracování webu napsané v PHP. Komplikace doprovázející automatické zpracování webových stránek byly vyřešeny techonologí Apache Kafka a jejími schopnosti škálování procesů. Modularita platformy byla dosažena pomocí architektury microservices a Docker containerization. Práce umožňuje jedinečný způsob, jak hledat potenciální kriminální aktivity, které se odehrály mimo rámec blockchain, pomocí webové aplikace pro správu platformy a vyhledávání v extrahovaných datech. Vytvořená platforma zjednodušuje přidávání nových, na sobě nezávislých modulů, kde Apache Kafka zprostředkovává komunikaci mezi nimi. Výsledek této práce může být použit pro detekci a prevenci kybernetické kriminality. Uživatelé tohoto systému mohou být orgány činné v trestním řízení nebo ostatní činitelé a uživatelé, zajímající se o reputaci a kreditibilitu kryptoměnových adres.
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The System for Collection and Analysis of Cryptocurrency Exchange Rates
Čaládi, Filip ; Pluskal, Jan (referee) ; Veselý, Vladimír (advisor)
Táto bakalárska práca je zameraná na kryptomeny, kryptomenové zmenárne a spôsoby cenotvorby na nich. Cieľom tohoto projektu je zber aktuálnych a historických dát o zmenárenských kurzoch, z dostupných zdrojov, zameraných na kryptomeny a Fiat peniaze. Zozbierané dáta su uložené v štruktúrovanej databáze s ohľadom na efektivitu a správu pamate. Navrhovaný systém, ktorý je schopný popísané dáta zozbierať, poskytuje všetky dostupné informácie vo forme REST API alebo webovej aplikácie a je nasadený v docker kontajneri. Validitu takéhoto systému som odtestoval výkonnostným testovaním modulu zodpovedného za zbieranie dát a implementovaním jednotkových testov pre každú časť systému.
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Secure Implementation of Blockchain Technology
Kovář, Adam ; Fujdiak, Radek (referee) ; Malina, Lukáš (advisor)
This thesis describes basis of blockchain technology implementation for SAP Cloud platform with emphasis to security and safety of critical data which are stored in blockchain. This diploma thesis implements letter of credit to see and control business process administration. It also compares all the possible technology modification. Thesis describes all elementary parts of software which are necessary to implement while storing data and secure integrity. This thesis also leverages ideal configuration of each programable block in implementation. Alternative configurations of possible solutions are described with pros and cons as well. Another part of diploma thesis is actual working implementation as a proof of concept to cover letter of credit. All parts of code are design to be stand alone to provide working concept for possible implementation and can source as a help to write productive code. User using this concept will be able to see whole process and create new statutes for whole letter of credit business process.
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