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Síťový a substituční efekt na kryptoměnových trzích
Vařejka, David
Vařejka, D. Network and substitution effect on cryptocurrency markets. Diploma thesis. Brno: Mendel University, 2023. This thesis examines the extent of substitution and network effects in the cryptocurrency market. These phenomena are investigated based on the relationships of individual cryptocurrency returns and other sentiment indicators. The theoreti-cal part of the thesis characterizes the network and substitution effects and further describes the consequences of their effects on the cryptocurrency market. The empirical part of the thesis is based on panel regression analysis with fixed effects. The dataset under study contains 31 cryptocurrencies for the period from the fourth quarter of 2017 to the first quarter of 2023. The selected data is weekly in nature. The results of the empirical analysis confirm the statistical significance of the included variables, the overall robustness of the model, and point to a long-lasting substitution effect in the cryptocurrency market.
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Analysis of investment strategies in cryptographic markets
TROTSENKO, Sofiya
The diploma thesis is focused on the analysis of investment strategies in cryptocurrency markets. Currently, the term "cryptocurrency" is deeply rooted in everyday vocabulary and professional literature. Unlike electronic money, cryptocurrency is not controlled by the state and is not tied to real money. Such systems are decentralized, where the operation is ensured by means of so-called chain transaction blocks ("blockchain"), built on the basis of cryptographic algorithms. The theoretical part will describe the origin and development, type, and kinds of cryptocurrencies. Subsequently, the technologies used, legal regulations, and definitions of cryptocurrency capitalization will be described. One of the goals will be to define SWOT analysis and correlations between cryptocurrencies. The practical part of the work is focused on assessing the effectiveness of cryptocurrencies such as Bitcoin, Ripple, Ethereum, Litecoin, and Monero. A Run test will be performed in this section. The next part will focus on descriptive statistics and the implementation of Bitcoin's dependence on financial instruments. To select the investment strategy, a trend analysis, moving averages, RSI index, Money Flow indicator will be performed.
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Bitcoins - the use of virtual currency in today's economy
Páral, Jiří ; Taušer, Josef (advisor) ; Jurek, Martin (referee)
The main goal of this diploma thesis is to explore the area of virtual currency Bitcoin and assess the use of this currency in today's economy. Thesis first mentions the cryptocurrency market, the technology and other altcoins. It further analyzes the cryptocurrency Bitcoin in detail, its foundation, history and mining. The text also explores the volatility of this currency in the recent years, the question of regulation by states and technological threats to the network. In the final chapter diploma thesis examines the possibilities for individuals to obtain this currency and the use of Bitcoin by enterprises.
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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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