Economics Dictionary of ArgumentsHome
| |||
|
| |||
| Crypto mining: Crypto mining is the process by which new units of certain cryptocurrencies, like Bitcoin, are created and transactions are verified and added to the blockchain. Miners use powerful computers to solve complex mathematical puzzles, and the first to solve a puzzle earns newly minted cryptocurrency and transaction fees as a reward. This process secures the network and maintains its decentralized nature. See also Cryptocurrency, Bitcoin, Blockchain, Crypto and energy._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
| Author | Concept | Summary/Quotes | Sources |
|---|---|---|---|
|
IMF Working Papers on Crypto Mining - Dictionary of Arguments
IMF III 29 Crypto Mining/Regulation/IMF/Luckner/Koepke/Sgherri: From a policy perspective, recognizing that crypto exchanges have the potential to serve as a marketplace for capital flight has important implications. IMF III 31 The policy implications are somewhat different in the context of crypto mining, however. (…) crypto mining may create a direct channel for capital flight if foreign currency proceeds are not repatriated (alternatively, it may create a source of FX (foreign exchange markets) revenue from repatriated crypto exports). The risk of FX leakages from sales of mined crypto highlight the fiscal cost of energy subsidies, strengthening the case for replacing such subsidies with more targeted social assistance mechanisms. If this first-best policy of phasing out subsidies is not available, then limiting crypto mining operations may be advisable. Not doing so may inadvertently allow the individuals engaged in mining access to a subsidized exchange rate. Negative externalities related to the environment only exacerbate the costs that agents using subsidized energy to mine crypto are imposing on a country (and the world). >Cryptocurrency risks, >Cryptocurrency, >Crypto transactions, >Fake transactions, >Cross-border payments, >Money laundry, >Crypto regulation, >Blockchain, >Bitcoin, >Crypto Firms, >Crypto and Banking, >Payment systems, >Stablecoins._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
IMF Working Papers IMF II IMF Working Paper André Reslow Gabriel Söderberg, Cross-Border Payments with Retail Central Bank Digital Currencies: Design and Policy Considerations IMF Fintech Note 2024/002 Washington, DC. 2024 IMF III IMF Working Papers Clemens Graf von Luckner Robin Koepke, Crypto as a Marketplace for Capital Flight. IMF Working Paper 24/133 Washington, DC. 2024 IMF IV IMF Working Papers Marco Pani Rodolfo Maino, “Could Digital Currencies Lead to the Disappearance of Cash from the Market? Insights from a ’Merchant-Customer’ Model.” IMF Working Paper WP/25/56 Washington, DC. 2025 |
||
Authors A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Concepts A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
