Bitcoin as the currency of the future?

Abstract

This bachelor's thesis focuses on the digital currency called Bitcoin. The theoretical part discusses the concept of money (its history, issuance, the gold standard, etc.) as well as central banking and local currencies. It also tackles the concept of Bitcoin itself, the way it functions, its advantages and disadvantages and its issuance (so-called mining). The practical part discusses whether or not it is possible to profit through bitcoin mining, by speculating on its relative value to the (US) dollar and if it is possible for Bitcoin to replace traditional payment systems and currencies in the future (or at least prove itself to be a potent competitor).