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Bitcoin point-of-sale terminal software development
Zima, Martin ; Smutný, Zdeněk (advisor) ; Vojíř, Stanislav (referee)
The bachelor thesis describes the software development process of a fully working system of Bitcoin point-of-sale terminals for retail merchants, enabling them to start accepting this cryptocurrency as a means of payment. Author compares his work with existing solutions and explains the necessary background theory of the underlying technologies and certain peculiarities stemming from them. In the following chapters of the thesis, this foundation is used to actually implement and describe the final working solution, which is targeting the Java language platform, Android operating system and Spring web application framework.
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Problems virtual currency - Bitcoin
Matej, Pavel ; Veber, Jaromír (advisor) ; Klíma, Tomáš (referee)
Bachelor's thesis is focused on digital currency Bitcoin, This thesis is trying to bring new coherent view on: how work Blockchain, how is the transaction created and focusing on security methods of transactions even whole block and processes associated with it. The main objective of this thesis is to highlight risks and threats to which Bitcoin is currently facing. Structure of the thesis is divided into theoretical and practical part. In the theoretical section is described the basic principles of Blockchain and a description of how it works in detail transactions. The practical part deals with the fulfillment of the stated objectives, in addition, also focuses on market research and draw conclusions about how expensive it is to dispose of Bitcoin. The contribution of this work is to analyze the weaknesses Bitcoin's architecture. This work describes the problems associated with scaling Bitcoin and hacking methods which could Bitcoin badly damage.
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A continuity between the changes of the exchange rates of the cryptocurrencies and the dynamics of the created content on the Internet by their users
Timofeeva, Mariya ; Šebesta, Michal (advisor) ; Bruckner, Tomáš (referee)
This thesis analyzes a continuity between the changes of the exchange rates of the cryptocurrencies and the dynamics of the created content on the Internet by their users. The main goals of this thesis are to analyze unstructured data focusing on the development of the topics for different cryptocurrencies and to interconnect the key topics with the changes of the exchange rates of this cryptocurrencies. In order to successfully obtain goals I describe process and methods of the analysis unstructured data, explain the issues of the cryptocurrencies, identify a source of the downloading data and choose some cryptocurrencies for subsequent analysis. The contribution of this thesis is the identification of the development key topics in the chosen source, finding topics, which are the most under discussion about the chosen five cryptocurrencies. Also this thesis detects the existence of the reaction of the users to the changes of exchange rates of the chosen cryptocurrencies and describes it. Particular contribution of this thesis is a practical demonstration of the application the elected technology for analyzing unstructured data. Also additional contribution is the methods using in the analytical part. Structure of this thesis is divided to the three main parts. The first part describes the analysis of unstructured data theoretically and explain the issues of cryptocurrencies. The second part devotes a draft of the solution for creating an analytical part. The third part maps the most discussion cryptocurrencies in the chosen source, identifies the development of the key topics for five chosen cryptocurrencies Bitcoin, Nxt, Dash, Monero and Counterparty and interconnects the key topics this cryptocurrencies with changes their exchange rates in relation to American dollar.
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Aspects of Organizational Integration Currency Bitcoin Payments
Pitrová, Marie ; Novák, Michal (advisor) ; Přibil, Jiří (referee)
The main objective of this diploma thesis is to introduce the history and origin of digital currency Bitcoin and how this project works specifically from the perspective of IT. The thesis contains detailed instructions for the process of implementation Bitcoin payments to the company. This diploma thesis describes the possibilities of abuse and security. Further compares advantages and disadvantages with the classical exchange resources. How is it possible to get this currency, use and how it developed its rate against other world currencies. The thesis also mentions similar cryptocurrencies.
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Cryptocurrency Bitcoin and its future development
Leopoldová, Lucie ; Čajka, Radek (advisor) ; Polách, Radomír (referee)
The main objective of this diploma thesis is to find out the potential of digital currencies to replace contemporary fiat currency. Specifically, the thesis is focused on cryptocurrency Bitcoin, which currently has the highest market value. The thesis is divided into three main chapters. The first one focuses on money itself and its function, not only today but also throughout the history. Second chapter explains substance and functioning of Bitcoin, as well as its role in the current monetary system. Likewise the question of regulatory measures and competition of altcoins is being examined. Final part analyses the future of digital currencies and it compares pros and cons of Bitcoin and money we use today. Furthermore, it is discussed whether Bitcoin is the next bubble in the financial market. In the end, main problems which Bitcoin and other cryptocurrencies deal with are mentioned and a possible future development is outlined.
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Alternative crypto currency analysis and mining
Ballek, Miroslav ; Bruckner, Tomáš (advisor) ; Šebesta, Michal (referee)
Over the past few years, bitcoin has become a globally successful and much followed project. It is a kind of decentralized digital currency, which functions based on mathematical-cryptographical principles and is created using a computationally intensive process called mining. Thousands of other alternative crypto currencies exist, which have so far stayed unnoticed by the media, even though they outperform bitcoin in many aspects. The central topic of this paper is the extensive ecosystem of alternative crypto currencies and an analysis of their mining process. The goal is to demonstrate, by means of a practical example, how alternative crypto currencies are mined and also to find out, if it's possible to mine crypto currencies profitably with specific type of a graphic card. To successfully reach this goal I had to first analyse the ecosystem of crypto currencies. Subsequently I compared different crypto currencies to one another and eventually successfully implemented the mining operation and evaluated its results. The main contribution of this paper is to answer the question of whether and how alternative crypto currencies can be profitably mined. I believe the particular benefit of this work rests not only in the practical demonstration of how alternative crypto currencies are mined but also in the summary description of the crypto currency ecosystem's composition and the factors that influence the price of these crypto currencies. Structurally, this paper is divided in three main parts. The first part is dedicated to the explanation of the term crypto currency, what it comprises and according to which principles it functions. The second part contains an analysis of the ecosystem as well as a comparison of a fixed sample of alternative crypto currencies. The third part is the practical part, during which I undertook a real mining operation.
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Analýza kryptoměn jako finančních instrumentů
Bartoš, Jakub ; Stroukal, Dominik (advisor) ; Chytilová, Helena (referee)
This paper analyzes cryptocurrencies as financial instruments. Firstly, we introduced the main features of cryptocurrencies and summarized the brief history. We found out that price of the most famous cryptocurrency Bitcoin follows the hypothesis of efficient markets and it immediately react on publicly announce information. Furthermore, Bitcoin can be seen as standard economic good that is priced by interaction of supply and demand on the market. These factors can be driven by macro financial development or by speculative investors, but there weren't found any significant impact of these factors on price of Bitcoin. CAPM shows the high risk of cryptocurrencies, but it could be still good instrument for diversification.
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Potential of Bitcoin from the view of Austrian school
Šembera, Tomáš ; Potužák, Pavel (advisor) ; Čermáková, Klára (referee)
The bachelor thesis deals with potential of digital currency Bitcoin to become universally accepted medium of exchange and with advantages, which its usage would bring to economy. In the thesis there are analysed factors important for its future progression. There are identified both positive and negative factors. Among the positive ones there is pseudonymity, low transaction costs, protection against government actions and inovative potential in the field of financial services. Among the negative ones there is the question of the system security, network effect, the risk of government against Bitcoin itself and high volatility. Volatility of bitcoin valu is identified as the major disadvantage of the currency. Next part of theoretical part deals with the confusion about virtual currencies and regression theorem. Logical analysis suggests that this confusion is caused by wrong interpretation of regression theorem, which is mostly caused by improper understanding of the term direct use. In the next part, Bitcoin is analysed from the view of the Austrian business cycle theory. Because of the inability of performing credit expansion, Bitcoin is identified as currency significantly limiting the strenght of business cycles. Practical part analysis the developement of volatility in time and its dependence on events and spekulative demand. The hypothesis, that high volatility of bitcoin value is caused by immaturity of the technology is not confirmed.
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Model ocenenia virtuálnej meny
Martiček, Matúš
Bachalor thesis defines main factors, that influence final value of digital currency Bitcoin. By means of comparing bitcoin with traditional currencies and other assets are defined differences, which exist among them. He points out the fact, that it is necessary to look at Bitcoin from different perspectives in order to value its price. Based on this fact, are created two models which value Bitcoin. First model is created on whole network's level and he reflects market price of Bitcoin. Second model is specified according to conditions of individual miner. By creating this model, it is possible to explain individual fundaments necessary for mining. By author is characterised and eventually included to these specific valuation models impact of demand on this currency, which has significant impact on its value.
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Analysis and implementation of application for digital currency Bitcoin
DRDÁK, František
The thesis is focused on the topic of virtual cryptocurrency Bitcoin. The theoretical part is divided into several chapters. First of all, there is a chapter containing basic information about the currency's history, its development to the present, as well as principles of operation of this currency. Because it is a currency based on cryptographic principles next chapter summarizing cryptographic techniques, which is necessary to know for subsequent analysis of this currency. In other parts is elaborated a detailed analysis of the principles of Bitcoin. The main point of this analysis is a system of transactions, decentralized history, then joining the transactions into blocks and in the end creating blockchain. It also explains the principle of P2P networks. The practical part of this work focuses on the analysis and design of payment applications for mobile devices. There used open-source libraries such BitcoinJ. The application is developed in Java programming language with plugin for portable devices, which work under the operating system Android. For the purposes of analysis and design of graphical user interface is used UML diagrams. The specification of the UML diagrams was utilized by freely available graphics software and the result is also included in this work.
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