The purpose of this study is to investigate the salient factors that influence Indonesian cryptocurrency owners in making their investment decision. This study employs intergroup bias, subjective norms, overborrowing, and spending control to explain cryptocurrency investment behavior. The questionnaire was collected from 309 respondents from the five largest internet user areas: Jakarta, Surabaya, Bandung, Semarang, and Medan. This study executes the research framework using binary logistic regression. The results reveal that intergroup bias and overborrowing are the most impulsive factors contributing to the cryptocurrency investment decisions over the past year. Furthermore, after November 2021, Indonesian crypto owners are more irrational in a bearish period since their investment decisions are driven by their desire to be accepted in the social group. Moreover, when they have overindebtedness, instead of solving their debt problems, they prefer to spend their money on cryptocurrency investments. The subjective norms’ influencers suggest that crypto owners not invest when the cryptocurrency price is sharply declining. The findings contribute to the dual-systems perspective and social contagion theories, enriching the empirical study regarding investment behavior.
We present a survey to evaluate crypto-political, crypto-economic, and crypto-governance sentiment in people who are part of a blockchain ecosystem. Based on 3,710 survey responses, we describe their beliefs, attitudes, and modes of participation in crypto and investigate how self-reported political affiliation and blockchain ecosystem affiliation are associated with these. We observed polarization in questions on perceptions of the distribution of economic power, personal attitudes towards crypto, normative beliefs about the distribution of power in governance, and external regulation of blockchain technologies. Differences in political self-identification correlated with opinions on economic fairness, gender equity, decision-making power and how to obtain favorable regulation, while blockchain affiliation correlated with opinions on governance and regulation of crypto and respondents’ semantic conception of crypto and personal goals for their involvement. We also find that a theory-driven constructed political axis is supported by the data and investigate the possibility of other groupings of respondents or beliefs arising from the data.
Aim/Purpose: The study we present aims to explore several factors pertaining to Consumer Acceptance of business technology as it relates to cryptocurrencies. Identifying and developing the relevant measures is of importance to business technology managers and soft-ware development managers today. We ask the important question of “what measures best represent the established constructs of the technology acceptance model?” To address this issue, it is important to identify the key measurements that help us to under-stand the proposed constructs as they relate to cryptocurrencies as well as confirm their validity in isolation and in combination with each other. In this study, the factors we explore are perceived reputation, risk, and usefulness and transaction intentions. Methodology: A survey was used whereby the methodology adapted previous measurements from related works and new measurements pertaining to usefulness and risk were developed to adhere to cryptocurrency’s consumer acceptance framework. 202 students completed the questionnaire, and an exploratory factor analysis was used to analyze the constructs and their measurements. Contribution: To address this issue, it is important to identify the key measurements that help us to under-stand the proposed constructs as they relate to cryptocurrencies as well as confirm their validity in isolation and in combination with each other. In this study, the factors we explore are perceived reputation, risk, and usefulness and transaction intentions. Findings: Through the results, we were able to identify and validate the relevant measurements as well as the proposed constructs.
Hayati Mohd Yusof, Mai Farhana Mior Badrul Munir, Zulnurhaini Zolkaply, Muhammad Ashraf Fithri Anuar
Digital currency or cryptocurrency, the latest development in investment is a virtual medium to purchase and sell goods and services, plays the role of a diversification tool, and features an attractive, alternative store of value.Recently, the Malaysian regulators were urged to legalise cryptocurrency as it is very attractive to young investors.Despite the overwhelming interests among young investors, they have held their interests over cryptocurrency due to the fear of the unknown and a few of its vague areas.This research is undertaken to explore the cryptocurrency interest and awareness among undergraduate university students as potential future cryptocurrency investors.As of to date, 116 students have participated in data collection and at this stage, the preliminary findings will be reported.About 78% of the young respondents admitted that they had little or no knowledge of the virtual currency.This research contributed in exploring cryptocurrency's value and risk from users' perspectives in a developing country setting such as Malaysia.This might shed new lights in raising awareness among the youth while managing cryptocurrency developments by regulators.More future research should be undertaken to assess the behavioural traits of the cryptocurrency providers, players as well as the societal acceptance of it.
A review of a selected theories that influence the adoption of technology will serve as the objective of this paper. In this work, we attempt to discover traits that might improve the possibility of acceptance and ongoing usage of technology such as cryptocurrency adoption. More specifically, we focused on Rogers' Innovation Diffusion Theory (IDT, Theory of Technology Acceptance (TAT), and Technology Acceptance Model. (TAM)/TAM2/TAM3, Theory of Reasoned Action (TRA), Unified Theory of Acceptance and Use of Technology (UTAUT), and Theory of Planned Behaviour (TPB). When researching the tendency of individuals to adopt certain technologies, researchers draw from a wide variety of conceptual frameworks and analytical approaches. In this review, social psychology and its applied notions have been utilised most frequently. As a primary theoretical foundation, the theories centre on people's intentions to engage in a specific behaviour (i.e., adopt and utilise ICT), which is the emphasis of the theories. Research on the adoption and usage of information and communication technologies has made extensive use of both the Theory of Reasoned Action (TRA) and the Theory of Planned Behaviour (TPB). They are two of the key intention-based theories, which means they give the core theoretical underpinnings for other adoption theories, such as the Technology Acceptance Model (TAM) and the Enhanced Technology Acceptance Model. Both the transpersonal relationship analysis and the transpersonal behaviour analysis begin with the fundamental premise that individuals deliberately choose whether or not they will engage in a certain behaviour. In this sense, the adoption and usage intentions are typically seen of as a primary outcome variable that is influenced by a variety of independent variables. This is because of the way that they are typically studied. In the following, we will discuss significant theories regarding the adoption of technology.
Jaroslava Gburová, Lenka MIKLE, Andrea VADKERTIOVÁ, Daniela Matušíková
In today’s digital age, social media is the main means of communication and information sharing. Social media platforms create a space for peer-to-peer communication, information sharing and thus provide speed of dissemination of information about cryptocurrencies and increase their popularity. Social media is also a powerful competitive tool to promote cryptocurrencies and reach potential investors as well as customers. Building a strong online promotion takes time, so consistency is important with regular posting of quality content across all your chosen social media channels. Promoting cryptocurrencies through social media has the potential to increase awareness and interest in cryptocurrencies. However, the success of a promotion depends on the right strategy, quality content and active interaction with users. The aim of this article is a theoretical summary of the available literature in the field of cryptocurrencies and an analysis of the impact of social media on the promotion of cryptocurrencies and the credibility of the dissemination of information about cryptocurrencies through the promotion of cryptocurrencies.
Social networking sites (SNSs) are web-based online platforms on which users can express their opinions, ideas, lifestyles, share messages and news and communicate with other users. There is limited research conducted on identifying and investigating the interest areas of cryptocurrency users by using SNSs as a data source. In this research, the interest areas of Twitter users who tweeted about cryptocurrencies were investigated by scrutinising their tweets with a topic extraction algorithm. Aligned with the purpose of this study, Twitter users and their tweets were collected with a search query that consisted of cryptocurrency-related words. Then, these tweets were examined and interest areas of users were identified via topic extraction. According to the results of this research, Twitter users who tweeted about cryptocurrencies were also interested in the impact of globalisation, economy, disruptive technologies, politics, digital banking and finance, social life and data science in a descending order of interest.
Cryptocurrency is gaining worldwide recognition. This research examines the psychological determining factors of consumers’ cryptocurrency adoption behavior based on the theory of planned behavior. 452 samples are collected from U.S consumers and the data are analyzed by PLS-SEM. The findings reveal that consumer innovativeness has positive influences on the attitude and perceived behavioral control for cryptocurrency and in turn affects the intention to use cryptocurrency. Subjective norm is a significant predictor of cryptocurrency intention and the LOHAS lifestyle moderates the influence of attitude on the intention. This research offers theoretical and practical implications for the cryptocurrency market.
We examine the influence of Twitter promotion on cryptocurrency pump-and-dump events. By analyzing abnormal returns, trading volume, and tweet activity, we uncover that Twitter effectively garners attention for pump-and-dump schemes, leading to notable effects on abnormal returns before the event. Our results indicate that investors relying on Twitter information exhibit delayed selling behavior during the post-dump phase, resulting in significant losses compared to other participants. These findings shed light on the pivotal role of Twitter promotion in cryptocurrency manipulation, offering valuable insights into participant behavior and market dynamics.
Purpose - The paper summarizes the theoretical and empirical knowledge on the use and transactions of cryptocurrencies in tourism and examines the use of cryptocurrencies as a means of payment in Croatian tourism. Methodology/Design/Approach – The empirical research examines the attitudes and opinions of tourists in Croatian tourism regarding their willingness to pay with cryptocurrencies while travelling. Findings - The research results show a low level of payment for tourism services with cryptocurrencies in the Republic of Croatia, but a fairly open acceptance of cryptocurrencies as a means of payment for tourism services. The study found no correlation between the profile of respondents and the motivation to pay with cryptocurrencies. However, a correlation was found between the age of the respondents and the intention to pay, but there were no statistically significant differences in the intention to pay according to the age group of the respondents. No correlation was also found between motivation and intention to pay with cryptocurrencies. Originality of the research – The study can serve as a basis for further research on the use of cryptocurrencies in tourism. It helps to expand knowledge about the motivation and intention to use cryptocurrencies on a tourism trip and to understand tourists’ behavior.