Events

Speaker: Vishwas Kukreti, Research Scholar

ABSTRACT

A cryptocurrency is a form of ’peer to peer version of electronic cash’ . The global crypto market cap is $896.43B. Comparable to GDP of Turkey, Netherlands, Indonesia etc. In Nov, 2021 it was $2 trillion when bitcoin touched an all-time high of $65,000 USD. It is important to look upon the stylized facts of cryptocurrencies. A stylized fact is a simplified presentation of an empirical finding. Since facts, as recorded by statisticians, are always subject to numerous snags and qualifications, and for that reason are incapable of being accurately summarised, the theorist, in my view, should be free to start off with a ’stylized’ view of the facts - i.e. concentrate on broad tendencies, ignoring individual detail, and proceed on the ’as if ’ method, i.e. construct a hypothesis that could account for these ’stylized’ facts, without necessarily committing himself on the historical accuracy, or sufficiency, of the facts or tendencies thus summarised. In this seminar, stylized facts of cryptocurrencies will be presented briefly.