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CRIX or evaluating blockchain based currencies

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  • Härdle, Wolfgang Karl
  • Trimborn, Simon

Abstract

More and more companies start offering digital payment systems. Smartphones evolve to a digital wallet such that it seems like we are about to enter the era of digital finance. In fact we are already inside an digital economy. The market of e-x (x = "finance", "money", "book", you name it ... ) has not only picked up enormous momentum but has become standard for driving innovative activities of the global economy. A few clicks at y and payment at z brings our purchase to location w. Own currencies for the digital market were therefore just a matter of time. The idea of the Nobel Laureate Hayek, see [1], to let companies offer concurrent currencies seemed for a long time scarcely probabilistic, but the invention of the Blockchain made it possible to fill his vision with life. Cryptocurrencies (abbr. cryptos) came up and widened the angle towards this new level of economic interaction. Since bitcoins' appearance a bunch of new cryptos spread the web and offered new ways of proliferation. The crypto market then fanned out and showed clear signs of acceptance and deep liquidity so that one has to look closer at the general moves and dynamics.

Suggested Citation

  • Härdle, Wolfgang Karl & Trimborn, Simon, 2015. "CRIX or evaluating blockchain based currencies," SFB 649 Discussion Papers 2015-048, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    • Handle: RePEc:zbw:sfb649:sfb649dp2015-048
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    References listed on IDEAS

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    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. Simon Trimborn & Mingyang Li & Wolfgang Karl Härdle, 2020. "Investing with Cryptocurrencies—a Liquidity Constrained Investment Approach," Journal of Financial Econometrics, Oxford University Press, vol. 18(2), pages 280-306.
    2. Schilling, Linda & Uhlig, Harald, 2019. "Some simple bitcoin economics," Journal of Monetary Economics, Elsevier, vol. 106(C), pages 16-26.
    3. Kim, Alisa & Trimborn, Simon & Härdle, Wolfgang Karl, 2021. "VCRIX — A volatility index for crypto-currencies," International Review of Financial Analysis, Elsevier, vol. 78(C).
    4. repec:hum:wpaper:sfb649dp2017-014 is not listed on IDEAS
    5. Shi Chen & Cathy Yi-Hsuan Chen & Wolfgang Karl Hardle, 2020. "A first econometric analysis of the CRIX family," Papers 2009.12129, arXiv.org.
    6. Konstantin Häusler & Hongyu Xia, 2022. "Indices on cryptocurrencies: an evaluation," Digital Finance, Springer, vol. 4(2), pages 149-167, September.
    7. Stefan Cristian, 2018. "Tales from the crypt: might cryptocurrencies spell the death of traditional money? - A quantitative analysis -," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 12(1), pages 918-930, May.
    8. Elendner, Hermann & Trimborn, Simon & Ong, Bobby & Lee, Teik Ming, 2016. "The cross-section of crypto-currencies as financial assets: An overview," SFB 649 Discussion Papers 2016-038, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    9. repec:hum:wpaper:sfb649dp2016-038 is not listed on IDEAS
    10. Trimborn, Simon & Härdle, Wolfgang Karl, 2018. "CRIX an Index for cryptocurrencies," Journal of Empirical Finance, Elsevier, vol. 49(C), pages 107-122.
    11. Chen, Cathy Yi-Hsuan & Härdle, Wolfgang Karl & Hou, Ai Jun & Wang, Weining, 2018. "Pricing Cryptocurrency options: the case of CRIX and Bitcoin," IRTG 1792 Discussion Papers 2018-004, Humboldt University of Berlin, International Research Training Group 1792 "High Dimensional Nonstationary Time Series".
    12. Zuo Xiaorui & Chen Yao-Tsung & Härdle Wolfgang Karl, 2024. "Emoji driven crypto assets market reactions," Management & Marketing, Sciendo, vol. 19(2), pages 158-178.
    13. Laura Alessandretti & Abeer ElBahrawy & Luca Maria Aiello & Andrea Baronchelli, 2018. "Anticipating Cryptocurrency Prices Using Machine Learning," Complexity, Hindawi, vol. 2018, pages 1-16, November.
    14. repec:hum:wpaper:sfb649dp2016-031 is not listed on IDEAS
    15. Nadler, Philip & Guo, Yike, 2020. "The fair value of a token: How do markets price cryptocurrencies?," Research in International Business and Finance, Elsevier, vol. 52(C).
    16. Chen, Shi & Chen, Cathy Yi-Hsuan & Härdle, Wolfgang Karl & Lee, TM & Ong, Bobby, 2016. "A first econometric analysis of the CRIX family," SFB 649 Discussion Papers 2016-031, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.

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    More about this item

    Keywords

    index construction; CRIX; risk analysis; bitcoin; cryptocurrency;
    All these keywords.

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)

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