criptocurrencies

— Blockchain technology integrates mathematical encryption, open source software, computer networks and incentive mechanisms. It created a crypto call hiding in a token. However, tokens should be used to purchase goods or services from offline retailers, but current tokens are used primarily for investment. Therefore, the most important thing at this point is how to get the royalty-based tokens integrated into the offline store. For this purpose, it is not realistic to install a new payment terminal in an offline store. Based on these perceptions, this study measures the application of investigated components to understand the impact of blockchain technology on customer loyalty programs. The main purpose of this study is to propose an integrated customer loyalty program model for blockchain technology using credit cards. This study shows how to implement an integrated customer loyalty program process in credit card-based blockchain technology and how to identify the importance of block-chain technology to improve customer loyalty programs.

İnsanlık tarihi çok sayıda faktörün etkileşimiyle meydana gelen bir süreçtir. Bu süreçte insani yaratım ve atılımlar kadar, yıkımlar da önemli rol oynarlar. Yaratıcı yıkımlar kendisinden önce gelen alışılagelmiş geleneksel yapıları zayıflatırken, insan faillerin özgürleşerek yeni atılımlar gerçekleştirmesine önayak olurlar. Bu anlamda yirminci yüzyılın son çeyreğinde gerçekleşen internet devrimi, kendisine kadar gelen insani iletişimin kalıplaşmış yapılarını değişime ve dönüşüme zorlamıştır. Yirmi birinci yüzyılın ilk çeyreğinde ise blok zinciri teknolojisinin icadı, failler arasındaki insani iletişimde aracılık rolü üstlenen merkezi otoritelerin gücünü zayıflatmaktadır. İnsanlar arasındaki veri ve değer nakillerinin merkezîleşmiş otoritelerin denetim ve kısıtlamalarından azade bir biçimde gerçekleştirilebilmesi, tüm toplumsal, politik ve ekonomik etkileri öngörülemeyecek olan bir yaratıcı yıkımdır. Kişilerin, egemen bir merkezi otoritenin kontrolünde olmadan, eşler arasında veri ve değerleri bir mekana bağımlı olmaksızın nakledebilmeleri, insani iletişimde gerçekleşen en kapsamlı devrimlerden biridir. Bu kapsamda, bu makale blok zinciri teknolojisi sayesinde, veri ve değer kaynaklarının çeşitlendiği koşullarda, insan faillerin özgürleşebilirliğinin ne şekilde arttığını inceler.
[Human history is a process that occurs with the interaction of various factors. In this process, destructions play an important role as much as creations and breakthroughs by humans. While creative destructions weaken the common traditional structures that preceded it, they lead human actors to make new breakthroughs by liberating them. In this sense, the internet revolution that took place in the last quarter of the twentieth century forced the stereotypes of human communication to change and transform. And, in the first quarter of the twenty-first century, the invention of blockchain technology is weakening the centralized authorities which play a mediating role in human communication between parties. The fact that data and value transfers between people can be carried out free from the control and restrictions of centralized authorities is a creative destruction whose social, political and economic effects are unpredictable. It is one of the most comprehensive revolutions in human communication that individuals can transfer data and values "peer to peer" without being controlled by a sovereign centralized authority. In this context, this article examines how the emancipation of human actors increases under conditions where data and value sources are diversified by means of blockchain technology.]

A partire dalla crisi finanziaria del 2008, la net economy ha conosciuto nuovi mezzi di scambio accettati dalla gran parte degli utenti del web: le criptovalute. Dal punto di vista giuridico, in relazione alle stesse, si registrano differenti qualificazioni: chi le assimila alla moneta; chi a prodotti finanziari e chi, più recentemente, le ha qualificate come beni digitali, fungibili e generici. Quest' ultima qualificazione, però, comporta non pochi problemi in relazione alla ammissibilità della detenzione, custodia e scambio di beni digitali.

Il fenomeno delle criptovalute rappresenta un quid novi di difficile collocazione sistematica sul piano giuridico perché, non presupponendo l’intermediazione di alcun sistema istituzionale, espone il mercato a delle incertezze dovute non tanto alle potenziali alee economiche, quanto a diversi problemi giuridici di tipo relazionale.
Alla domanda “che cos’è giuridicamente una criptovaluta?” non è possibile, al momento, offrire una risposta univoca e convincente in un panorama di evidente incertezza normativa e imbarazzi ermeneutici offerti dalla giurisprudenza che sta iniziando a interessarsi al problema.
Anche Consob e Antitrust iniziano ad assumere posizioni restrittive e interdittive sulle ICO e si prospetta una fase di contenzioso amministrativo dove non è del tutto chiaro quale potrà essere la posizione del giudice amministrativo. L’emersione di tutte queste problematiche, impone quindi una riflessione giuridica che tenga conto delle peculiarità proprie del fenomeno cercando di coglierne a pieno l’effettiva natura giuridica di “cosa” come oggetto di diritto.

RESUMO As criptomoedas, chamados por alguns de criptoativos, estão cada vez mais presentes nas relações sociais e consequentemente nas práticas criminosas. Não necessariamente atreladas a crimes cibernéticos, que demandam alto grau de especialização por parte de investigadores, estão também conectadas a crimes patrimoniais, contra a pessoa, contra a honra e assim por diante. Num caso ou no outro, urge a necessidade da padronização dessas investigações, assim como melhor capacitação da Polícia Judiciária brasileira, proporcinando repressão eficiente e uniforme em todo o país. Palavras-chave: Criptomoedas, criptocrime, criptoinvestigação, crime cibernético, investigação policial, blockchain. INTRODUÇÃO A investigação criminal contemporânea deve acompanhar tendências e estar sempre lateralizada às novas tecnologias, pois se o crime é assim, sua repressão também o deve ser. A existência de criptomoedas no iter criminis causa espanto a investigadores mais tradicionais e representa verdadeira barreira no avanço para a solução de crimes. Apontamos aqui a extrema necessidade de melhor capacitação das polícias brasileiras. Não para a criação de milhares de especialistas em crimes relacionados direta ou indiretamente a criptomoedas, mas para que a simples menção ao termo não seja vista como barreira instransponível na coleta de provas para determinação de materialidade e autoria delitiva. Válido frisar que a anonimização relacionada à utilização de criptomoedas é um tanto relativa. O investigador mais atento e com conhecimento basilar no campo cibernético pode galgar grandes avanços nas investigações relacionadas ao tema com exponencial taxa de sucesso na resolução de crimes. Seria por demais pretensiosismo suscitar o esgotamento do tema neste artigo. O objetivo recai na demonstração da importância e necessidade de adequação de técnicas investigativas e da legislação

As we have been pointing out in recent years (book 'Behind Closed Doors'), in the face of widespread opposition to the further development of nuclear energy sources, it is now more necessary than ever to review our unscientific prejudices. It is almost pathetic to observe how the European countries most affected are now calling for a halt to the closure of nuclear power plants that are still in operation. Political dependence on Russian gas (and also oil) is a very serious matter for economic development and the maintenance of the European Social Model.

Il volume offre un quadro sistematico dei danni c.dd. «bagatellari», vale a dire quelli caratterizzati - secondo l'indirizzo additato dalle note sentenze «San Martino» del 2008 - da una lieve entità, ora in relazione alla «gravità della lesione», ora alla «serietà del pregiudizio». Superato l'ostacolo di natura logica, rappresentato dal contrasto tra l'acclarata sussistenza di un danno (per quanto esiguo) e la sua irrisarcibilità, e preso atto altresí di come codesta categoria abbia oramai acquisito, nella trama del diritto «vivente», una fisionomia compiuta, si propone all'operatore giuridico una rassegna ragionata delle diverse ipotesi, di piú frequente verificazione nella giurisprudenza. La prima parte dell'opera, pertanto, si volge allo studio dei danni «essenzialmente» od «occasionalmente» bagatellari, a seconda se essi determinino conseguenze tenui o irrilevanti, rispettivamente, in ogni caso, ovvero solo alla stregua delle peculiarità del caso, pur potendo astrattamente presentarsi secondo modalità più lesive e ingenti; la seconda, invece, s'incentra sulla diversa fenomenologia dei danni medesimi nei settori - di viva e sicura attualità - del diritto bancario, assicurativo e finanziario.

Palavras-chave: Criptomoedas; Blockchain; Criptoativos; Natureza Jurídica; Tributação.

O presente trabalho está fundado no marco teórico do reconhecimento da força normativa constitucional e utiliza uma metodologia dedutiva, crítica e dialética para fazer uma imersão analítica no fenômeno das criptomoedas. Considerando as raízes históricas do fenômeno, os aspectos conceituais essenciais das criptomoedas são didaticamente expostos tendo o projeto Bitcoin como modelo. Desta forma, apreende-se a existência de todo um complexo universo de objetos criptografados, descentralizados de potencialidades técnicas sui generis: os criptoativos. Exposta a complexidade técnica sui generis dos criptoativos, o problema da natureza jurídica é considerado. Mediante ponderações dedutivas e críticas sobre experiências regulatórias estrangeiras e nacionais, deduz-se pela necessidade do estabelecimento de uma categorização jurídica específica, numa natureza jurídica sui generis. Aspectos quantitativos e qualitativos da tributação problematizam-se no plano da existência do Estado sob uma realidade econômica de uso generalizado de criptoativos, concluindo-se que tal plano está salvaguardando porquanto Mercado e Estado sejam conceitos conexos. Porém, as dimensões estatais comportam certo dinamismo e são consideradas o plano da eficácia das leis tributárias sobre os criptoativos discorrendo-se sobre possíveis caminhos institucionais a serem perquiridos visando maximização da salvaguarda do plano da eficácia dos Direitos Fundamentais.

The present work is based on the theoretical framework of the recognition of the normative constitutional force and uses a deductive, critical and dialectical methodology to make an analytical immersion in the phenomenon of the cryptocurrencies. Considering the historical roots of the phenomenon, the essential conceptual aspects of the cryptocurrency are methodically exposed having the project Bitcoin as model. In this way, it is considered the existence of a whole complex universe of encrypted, decentralized objects with sui generis technical potentialities: the cryptoassets
Given the sui generis technical complexity of cryptoassets, the problem of legal nature is considered. By deductive and critical considerations about foreign and national regulatory experiences, the need to establish a specific sui generis legal categorization, legal nature, is inferred.
Quantitative and qualitative aspects of taxation are considered at the plane of existence of the State under an economic reality of widespread use of cryptoassets is questioned, concluding that such a plan is safeguarding since Market and State are related concepts. However, considering that the state dimensions have a certain dynamism, we consider the effectiveness of the tax laws on cryptoassets, discussing possible institutional paths to be surveyed in order to maximize the safeguarding of the effectiveness of Fundamental Rights.

The Master Thesis discusses the role of the Economical Crisis of 2009 and the crescent use of digital currencies, such as the Bitcoin. Both of them happened at the same time and the present work investigates whether they are related, or if the Change of Values that set place in the Europe post 2nd WW was more important for people to new ways to use their money.

BITCOIN has a different criterion than traditional systems that pay in states’ currencies. This payment system is a complex scheme designed to facilitate the transfer of value between the parties. In this study, firstly, brief information about technical analysis, BITCOIN and behavioral finance is given. Then, in the literature part of the study, studies on BITCOIN prices in the context of behavioral finance and technical analysis are given. In this study, it is examined Relative Strength Index (RSI) availability in Bitcoin transactions and evaluate in the context of behavioral finance findings. For describing the risk of trading in Bitcoin, were chosen Value at Risk (VaR) ratio. In application part of the study it is supposed 1 Bitcoin “Buy” orders were opened when RSI was under 30 and closed when RSI was above 70. And also, 1 Bitcoin “Sell” orders were opened when RSI was above 70 and closed when it was under 30. All obtained data from trades was used for revealing results on accu...

BITCOIN has a different criterion than traditional systems that pay in states' currencies. This payment system is a complex scheme designed to facilitate the transfer of value between the parties. In this study, firstly, brief information about technical analysis, BIT-COIN, and behavioral finance is given. Then, in the literature part of the study, studies on BITCOIN prices in the context of behavioral finance and technical analysis are given. In this study, it is examined Relative Strength Index (RSI) availability in Bitcoin transactions and evaluate in the context of behavioral finance findings. For describing the risk of trading in Bitcoin, were chosen Value at Risk (VaR) ratio. In the application part of the study it is supposed 1 Bitcoin "Buy" order were opened when RSI was under 30 and closed when RSI was above 70. And also, 1 Bitcoin "Sell" orders were opened when RSI was above 70 and closed when it was under 30. All obtained data from trades was used for revealing results on accuracy, total profitability. Positive trades were divided by total trades and multiplied by 100 for calculation of accuracy. The period of research is 2015-01-01 till 2019-08-31. As a result of the study, we see the effects of biases in Bitcoin transactions. It is observed the examples of conservatism, over and underreaction, status quo effect and loss aversion. And also it is determined in this study that RSI works better in a stable market when traders play safer. In other words, RSI works better when conservatism wins over overreaction.

BITCOIN has a different criterion than traditional systems that pay in states’ currencies. This payment system is a complex scheme designed to facilitate the transfer of value between the parties. In this study, firstly, brief information about technical analysis, BITCOIN and behavioral finance is given. Then, in the literature part of the study, studies on BITCOIN prices in the context of behavioral finance and technical analysis are given. In this study, it is examined Relative Strength Index (RSI) availability in Bitcoin transactions and evaluate in the context of behavioral finance findings. For describing the risk of trading in Bitcoin, were chosen Value at Risk (VaR) ratio. In application part of the study it is supposed 1 Bitcoin “Buy” orders were opened when RSI was under 30 and closed when RSI was above 70. And also, 1 Bitcoin “Sell” orders were opened when RSI was above 70 and closed when it was under 30. All obtained data from trades was used for revealing results on accu...

With the ICO of Petro Cryptocurrency of Venezuela on feb 20, 2018, this 30 year old article became actual. The issuance of a sovereign currency is now feasible with Block Chain Technology. This will help to promote economic development of Mexico -and any country- by dissapearing the causes of inflation and reduce financial burdens on the public budget. La propuesta completa está en el libro "Y después del Pacto ¿Qué?" y puede descargase de aquí mismo: https://www.academia.edu/26287019/Y_despu%C3%A9s_del_Pacto_Qu%C3%A9

Con la emisión de la criptomoneda Petro de Venezuela el 20 de febrero de 2018, este artículo de 30 años de antigüedad adquiere actualidad. La emisión de una moneda soberana con tecnología criptográfica (cadena de bloques). Este mecanismo puede impulsar el desarrolllo económico de México -y de cualquier país- al eliminar las causas de la inflación y liberar el lastre que representan los gastos financieros del presupuesto público.

Perhaps remittances today are what the small-coin debasement was for the medieval monetary system: an incomplete and temporary cure for the shortage of money. What is really needed is an effective and reliable means of international payment to provide cross-border liquidity for the poor.