Banking and Financial Intermediation an der Universität Wien

Karteikarten und Zusammenfassungen für Banking and Financial Intermediation an der Universität Wien

Arrow Arrow

Komplett kostenfrei

studysmarter schule studium
d

4.5 /5

studysmarter schule studium
d

4.8 /5

studysmarter schule studium
d

4.5 /5

studysmarter schule studium
d

4.8 /5

Lerne jetzt mit Karteikarten und Zusammenfassungen für den Kurs Banking and Financial Intermediation an der Universität Wien.

Beispielhafte Karteikarten für Banking and Financial Intermediation an der Universität Wien auf StudySmarter:

Are users of Bitcoin truly anonymous?

Beispielhafte Karteikarten für Banking and Financial Intermediation an der Universität Wien auf StudySmarter:

What is meant by an account-based system?

Beispielhafte Karteikarten für Banking and Financial Intermediation an der Universität Wien auf StudySmarter:

What is meant by saying that a currency is a unit of account?

Das war nur eine Vorschau der Karteikarten auf StudySmarter.
Flascard Icon Flascard Icon

Über 50 Mio Karteikarten von Schülern erstellt

Flascard Icon Flascard Icon

Erstelle eigene Karteikarten in Rekordzeit

Flascard Icon Flascard Icon

Kostenlose Karteikarten zu STARK Inhalten

Kostenlos anmelden

Beispielhafte Karteikarten für Banking and Financial Intermediation an der Universität Wien auf StudySmarter:

What is a Bitcoin fork?

Beispielhafte Karteikarten für Banking and Financial Intermediation an der Universität Wien auf StudySmarter:

What actions do FIs perform when it comes to wire transfers?

Beispielhafte Karteikarten für Banking and Financial Intermediation an der Universität Wien auf StudySmarter:

Why is a consensus mechanism needed in Bitcoin?

Beispielhafte Karteikarten für Banking and Financial Intermediation an der Universität Wien auf StudySmarter:

What was the very basic initial proposal of Nakamoto?

Das war nur eine Vorschau der Karteikarten auf StudySmarter.
Flascard Icon Flascard Icon

Über 50 Mio Karteikarten von Schülern erstellt

Flascard Icon Flascard Icon

Erstelle eigene Karteikarten in Rekordzeit

Flascard Icon Flascard Icon

Kostenlose Karteikarten zu STARK Inhalten

Kostenlos anmelden

Beispielhafte Karteikarten für Banking and Financial Intermediation an der Universität Wien auf StudySmarter:

What functions does money have?

Beispielhafte Karteikarten für Banking and Financial Intermediation an der Universität Wien auf StudySmarter:

Name some of the current flaws in Bitcoin!

Beispielhafte Karteikarten für Banking and Financial Intermediation an der Universität Wien auf StudySmarter:

How did trust in fiat money emerge in the first place and why do we keep believing in it?

Beispielhafte Karteikarten für Banking and Financial Intermediation an der Universität Wien auf StudySmarter:

Are bank deposits also a legal tender? 
Das war nur eine Vorschau der Karteikarten auf StudySmarter.
Flascard Icon Flascard Icon

Über 50 Mio Karteikarten von Schülern erstellt

Flascard Icon Flascard Icon

Erstelle eigene Karteikarten in Rekordzeit

Flascard Icon Flascard Icon

Kostenlose Karteikarten zu STARK Inhalten

Kostenlos anmelden

Beispielhafte Karteikarten für Banking and Financial Intermediation an der Universität Wien auf StudySmarter:

How does the proof-of-work work?

Kommilitonen im Kurs Banking and Financial Intermediation an der Universität Wien. erstellen und teilen Zusammenfassungen, Karteikarten, Lernpläne und andere Lernmaterialien mit der intelligenten StudySmarter Lernapp. Jetzt mitmachen!

Jetzt mitmachen!

Flashcard Flashcard

Beispielhafte Karteikarten für Banking and Financial Intermediation an der Universität Wien auf StudySmarter:

Banking and Financial Intermediation

Are users of Bitcoin truly anonymous?

No, they are merely pseudonyms. Addresses could potentially be linked to private individuals. However, Nakamoto advises to use a new set of keys for every transaction.

Banking and Financial Intermediation

What is meant by an account-based system?

Overnight deposit accounts are held at monetary financial institutions (MFIs)

Banking and Financial Intermediation

What is meant by saying that a currency is a unit of account?

A unit of account is something that can be used to value goods and services, record debts and make calculations. Money is considered to be such a unit of account and is therefore divisible, fungible and countable. During the Introduction of the Euro this suffered as people would still compute the prices in the old currency

Banking and Financial Intermediation

What is a Bitcoin fork?

If an honest miner finds that a transaction in the latest block is not legit (e.g. digital signature does not match public key) it can choose to extend the chain from the second-to -last block thus creating two "ends" of the chain = fork.

If every honest miner does so and the honest miners have the majority of the CPU power the honest chain will be eventually the longest

Banking and Financial Intermediation

What actions do FIs perform when it comes to wire transfers?

They keep the records, varify the legitimacy of transactions, prevent double spending and ensure the privacy of transactions.

Banking and Financial Intermediation

Why is a consensus mechanism needed in Bitcoin?

It is used to agree on a history of events in a decentralized and pseudonymous network. Which is important to prevent double spending.

Banking and Financial Intermediation

What was the very basic initial proposal of Nakamoto?

To implement an electronic coin that can be exchanged in a fully decentralized peer-to-peer network, where all participants are equal. Meaning they share the same information and have the same rights

Banking and Financial Intermediation

What functions does money have?

It is a means of payment, a unit of account and a store of value

Banking and Financial Intermediation

Name some of the current flaws in Bitcoin!

  • The vicious cycle of CPU power - the more CPU power a miner uses, the more CPU power other miners need to invest to keep their success rates intact.
  • The more valuable BTC becomes, the more attractive it is to attack the network.
  • As BTC prices increase, total energy usage of the network must increase to guarantee security of the network.
  • The energy use is not required for technical reasons, it only serves to preserve the correct economic incentives for miners.
  • If all miners would commit to use less energy, transactions could be processed at significantly lower social costs - this is not a nash euqilibrium as an attack becomes more attractive.
  • Free entry in the mining market ensures that miners make small profits. When BTC prices increase, more miners enter the market --> vicious cycle.

Banking and Financial Intermediation

How did trust in fiat money emerge in the first place and why do we keep believing in it?

Money is a legal tender meaning that by law cash is avalid means of payment unless there is a specific (ex-ante) agreement to the contrary. 

Money is scarce. This is achieved by a monopoly of the central banks, who are producing and distributing fiat money exclusively. Eventhough they use normal banks as intermediaries. 

Money is hard to forge. High security standard make it hard to copy money.

By law no economic agent is forced to accept currency - not even the central bank!

All of this does not apply to bank money!

Banking and Financial Intermediation

Are bank deposits also a legal tender? 

This is not a legal tender. It is rather a bank's promise to deliver the legal tender on demand. 

Solely trust in fiat currency is necessary but not sufficient for trust in digital money. 

Moreover trust in the banking system is needed. This means trust in security of deposits and trust in the payment infrastructure. 

The government plays here an important role by regulating banks, issuing deposit insurance, etc.

Banking and Financial Intermediation

How does the proof-of-work work?

Each node operates on a first-come-first serve basis i.e. it considers the first transaction it receives as the valid one. The nodes collect transactions in blocks. To update the ledger, blocks are added sequentially to a chain of previous blocks. The longest chain of blocks is considered to be the valid ledger. Blocks are only added after nodes have solved a complex proof-of-work problem that uses the information of their block as an input. Blocks are then also timestamped to proof that info existed at that time. Once the CPU effort has been expended to make it satisfy the proof-of-work, the block cannot be changed without redoing the work.

Melde dich jetzt kostenfrei an um alle Karteikarten und Zusammenfassungen für Banking and Financial Intermediation an der Universität Wien zu sehen

Singup Image Singup Image
Wave

Andere Kurse aus deinem Studiengang

Für deinen Studiengang Banking and Financial Intermediation an der Universität Wien gibt es bereits viele Kurse auf StudySmarter, denen du beitreten kannst. Karteikarten, Zusammenfassungen und vieles mehr warten auf dich.

Zurück zur Universität Wien Übersichtsseite

Finanzintermediation und Bankmanagement an der

FernUniversität in Hagen

Banking and Finance an der

University of Zürich

Finanzintermediation und Bankenmanagement an der

FernUniversität in Hagen

Financial Valuation an der

WHU Vallendar

International Finance an der

Copenhagen Business School

Ähnliche Kurse an anderen Unis

Schau dir doch auch Banking and Financial Intermediation an anderen Unis an

Zurück zur Universität Wien Übersichtsseite

Was ist StudySmarter?

Was ist StudySmarter?

StudySmarter ist eine intelligente Lernapp für Studenten. Mit StudySmarter kannst du dir effizient und spielerisch Karteikarten, Zusammenfassungen, Mind-Maps, Lernpläne und mehr erstellen. Erstelle deine eigenen Karteikarten z.B. für Banking and Financial Intermediation an der Universität Wien oder greife auf tausende Lernmaterialien deiner Kommilitonen zu. Egal, ob an deiner Uni oder an anderen Universitäten. Hunderttausende Studierende bereiten sich mit StudySmarter effizient auf ihre Klausuren vor. Erhältlich auf Web, Android & iOS. Komplett kostenfrei. Keine Haken.

Awards

Bestes EdTech Startup in Deutschland

Awards
Awards

European Youth Award in Smart Learning

Awards
Awards

Bestes EdTech Startup in Europa

Awards
Awards

Bestes EdTech Startup in Deutschland

Awards
Awards

European Youth Award in Smart Learning

Awards
Awards

Bestes EdTech Startup in Europa

Awards