What motivates people to use Bitcoin?

Masooda Bashir, Beth Strickland, Jeremiah Bohr

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Bitcoin, a virtual currency that employs a novel technology that engenders trust and value in a decentralized peer-to-peer network, has exploded in use since it was first introduced in 2009. Yet, despite this explosive growth, researchers have barely started to investigate who uses Bitcoin, how and why they are used, and what the growth of virtual currency means for society. This paper examines Bitcoin as a currency, software platform, and community. It discusses the background of the virtual currency and presents the results of one of the first exploratory surveys to ask Bitcoin users and nonusers alike their opinions about Bitcoin and how these opinions relate to personal and cultural values. We examine how these views about Bitcoin are informed by attitudes towards money, technology, government, and social structure.

Original languageEnglish (US)
Title of host publicationSocial Informatics - 8th International Conference, SocInfo 2016, Proceedings
EditorsYong-Yeol Ahn, Emma Spiro
PublisherSpringer-Verlag
Pages347-367
Number of pages21
ISBN (Print)9783319478739
DOIs
StatePublished - Jan 1 2016

Publication series

NameLecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume10047 LNCS
ISSN (Print)0302-9743
ISSN (Electronic)1611-3349

Keywords

  • Attitudes
  • Bitcoin
  • Cryptocurrency
  • Libertarian
  • Virtual currency

ASJC Scopus subject areas

  • Theoretical Computer Science
  • Computer Science(all)

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