BİTCOİN KULLANIMINI ETKİLEYEN FAKTÖRLER VE REZERV PARA BİRİMLERİ KARŞISINDAKİ DEĞERİ: KULLANICI PERSPEKTİFİNDEN DEĞERLENDİRME

Öz

Günümüzde dijital tabanlı teknolojilerin küresel boyutta yaygınlaşması, tedarik zinciri içinde finans ağırlıklı karşılaşılan bazı zorluklarla başa çıkmada etkili bir rol oynamaktadır. Nitekim, finansal piyasalarda kullanıma sunulan sanal para kavramı, ortaya çıktığı yıllardan itibaren çeşitli amaçlar çerçevesinde giderek artan ilgiye sahiptir. Ancak, literatürde sanal paralara ve özellikle de öncü bir kriptografik sanal para olarak kabul edilen Bitcoin’e yönelik bazı çalışmalar bulunsa da, Bitcoin’i rezerv para birimleriyle karşılaştırarak kullanıcı görüşleri doğrultusunda kullanım sebeplerini açıklayan kapsamlı bir çalışma bulunmamaktadır. Buradan hareketle, mevcut araştırma, kullanıcıların Bitcoin tercihine etki eden faktörleri nedenleri ve sonuçları ile açıklamayı ve Bitcoin’in değer değişimini rezerv para birimleriyle karşılaştırmayı amaçlamaktadır. Bu amaçla, literatür araştırmasından ve 20 Bitcoin kullanıcısına uygulanan mülakat yönteminden elde edilen bulgular neticesinde, Bitcoin’in rezerv paralar karşısındaki değer değişimlerinin temelinde bazı devlet politikalarının yattığı, kullanıcıların Bitcoin’i tercih etmelerindeki öne çıkan nedenin ise para aktarım işlemleri olduğu bilgisine ulaşılmıştır. Sonuç itibariyle, mevcut araştırma anlamlı düzeyde akademik katkılar barındırmakta ve yatırımcılar başta olmak üzere çeşitli paydaş grupları için de önemli pratik katkılar sunmaktadır.

Anahtar Kelimeler

• Bitcoin Kullanımı
• Blockchain
• Kripto Para
• Rezerv Para Birimleri
• Sanal Para

FACTORS AFFECTING THE USE OF BITCOIN AND ITS VALUE AGAINST RESERVE CURRENCIES: AN EVALUATION FROM THE USER PERSPECTIVE

Öz

Today, the global spread of digital-based technologies plays an effective role in coping with several financial difficulties in the supply chain. Indeed, the concept of virtual money, which has been put into use in financial markets, has received a growing interest within the framework of various purposes since its emergence. However, although there are several studies in the literature on virtual currencies and especially Bitcoin, which is referred to as a pioneering cryptographic virtual currency, there is no comprehensive study that compares Bitcoin and reserve currencies and explains the reasons for its use based on users’ opinions. From this point forth, the present research aims to explain the factors affecting users' Bitcoin preference relying on causes and consequences, and to compare the value change of Bitcoin with reserve currencies. To this end, as a result of the findings obtained from the literature review and the interview technique applied to 20 Bitcoin users, it becomes apparent that some government policies lie on the basis of Bitcoin's value changes against reserve currencies and the prominent reason for users to prefer Bitcoin is money transfer transactions. Consequently, this research both holds significant academic implications and also provides critical practical contributions to various stakeholder groups, investors in particular

Anahtar Kelimeler

• Bitcoin Usage
• Blockchain
• Cryptocurrency
• Reserve Currencies
• Virtual Currency

Kaynakça

1. Aksoy, E. E. (2018) “Bitcoin Paradan Sonraki En Büyük İcat”, Ankara: Abaküs Kitap Yayın Dağıtım Hizmetleri.
2. Albright, K., Gechter, K. ve Kempe, A. (2013) “Importance of Mixed Methods in Pragmatic Trials and Dissemination and Implementation Research”, Academic Pediatrics, 13(5): 401-404.
3. Ali, O., Ally, M. ve Dwivedi, Y. (2020) “The state of play of blockchain technology in the financial services sector: A systematic literature review”, International Journal of Information Management, 54, 102199.
4. BBC (2020) https://www.bbc.com/turkce/haberler-dunya-55424201 (11.07.2021)
5. Berg, B. ve Howard, L. (2019) “Sosyal Bilimlerde Nitel Araştırma Yöntemleri”, Konya: Eğitim Yayınevi
6. Benzekri, K. H. ve Özütler, Ş. H. (2021) “On the Predictability of Bitcoin Price Movements: A Short-term Price Prediction with ARIMA”, Journal of Economic Policy Researches, 8(2): 296-298.
7. Birwin, A., Kamri, E., Faresty, E. Y. ve Lapau, B. (2020) “Service Quality And Ooutpatient’s Factors Affecting Their Satisfaction At The B Hospital In Indonesia”, International Journal of Management (IJM), 11(12).
8. Bitcoin (2018) “The US Government Powerless to Block Bitcoin Addresses”, https://news.bitcoin.com/the-us-government-is-powerless-to-block-bitcoin-addresses/ (27.05.2021)

9. Brand, W. (2018) “Bitcoin for Dummies”, Ankara: Nobel Akademik Yayıncılık.
10. Carrick, J. (2016) “Bitcoin as a complement to emerging market currencies”, Emerging Markets Finance and Trade, 52(10): 2321-2334.
11. Ciaian, P., Rajcaniova, M. ve Kancs, D. A. (2016) “The economics of BitCoin price formation”, Applied Economics, 48(19): 1799-1815.
12. Coindesk (2020) https://www.coindesk.com/price/bitcoin/ (18.06.2021)
13. Commodity Futures Trading Commission (2018) https://www.cftc.gov/sites/default/files/2018-07/customeradvisory_tokens0718.pdf (18.06.2021)
14. Creswell, J. W. (1998) “Qualitative inquiry and research design among five: Choosing traditions”, Pearson Education.
15. Devravut, Ö. (2018) “Bitcoin, blockchain ve manipülasyon: Borsa analizi ve geleceğe dair varsayımlar”, Uluslararası Politik, Ekonomik ve Finansal Analiz Kongresi, 1(1): 129-145.
16. Durmuş, S. ve Polat, Ş. (2018) “Sanal Para Bitcoin”, Kafkas Üniversitesi İktisadi ve İdari Bilimler Dergisi, 9(18): 659-663.
17. Güleç, F. Ö., Çevik, E. ve Bahadır, N. (2018) “Bitcoin ile Finansal Göstergeler Arasındaki İlişkinin İncelenmesi”, Kırklareli Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 7(2): 18-37.
18. Hobbs, A. (2021) “Analyzing the Tesla–Bitcoin Investment: What’s Next for Cryptocurrencies?”, SAGE Publications: SAGE Business Cases Originals.
19. Hofmann, E., Strewe, U. M. ve Bosia, N. (2018) “Discussion—how does the full potential of blockchain technology in supply chain finance look like?”, In Supply Chain Finance and Blockchain Technology (pp. 77-87). Springer, Cham.
20. Issaoui, Y., Khiat, A., Bahnasse, A. ve Ouajji, H. (2019) “Smart logistics: Study of the application of blockchain technology”, Procedia Computer Science, 160: 266-271.
21. Johannesen, A., Kristoffersen, L., Tufte, P.A. (2004) “Forskningsmetode for økonomisk-administrative fag”, Abstrakt Forlag.
22. Kjærland, F., Khazal, A., Krogstad, E. A., Nordstrøm, F. B. ve Oust, A. (2018) “An Analysis of Bitcoin’s Price Dynamics”, Journal of Risk and Financial Management, 11(4).
23. Kurt, L. (2018) “Kripto Para Bitcoin”, Ankara: Karina Yayınevi. Library of Congress. (2018) Regulation of Cryptocurrency Around the World. https://www.loc.gov/law/help/cryptocurrency/cryptocurrency-world-survey.pdf (27.05.2021)
24. Madsen, N. K. (2008) “Lost in translation?: Nordic-Russian cooperation on renewable energy: experiences and perspectives”, (Master's thesis, Høgskolen i Bodø).
25. Mettler, M. (2016, September) “Blockchain technology in healthcare: The revolution starts here”, In 2016 IEEE 18th international conference on e-health networking, applications and services (Healthcom), (pp. 1-3), IEEE.
26. Nakamoto. (2008) “Bitcoin: A Peer-to-Peer Electronic Cash System”, https://bitcoin.org/bitcoin.pdf (11.05.2021)
27. Ooi, S. K., Ooi, C. A., Yeap, J. A. ve Goh, T. H. (2021) “Embracing Bitcoin: users’ perceived security and trust”, Quality & Quantity, 55(4): 1219-1237.
28. Rabionet, S. E. (2011) “How I learned to design and conduct semi-structured interviews: an ongoing and continuous journey”, Qualitative Report, 16(2): 563-566.
29. Santo-Tomás Muro, R., Sáenz de Tejada Granados, C. ve Rodríguez Romero, E. J. (2020) “Green infrastructures in the peri-urban landscape: Exploring local perception of well-being through ‘go-alongs’ and ‘semi-structured interviews”, Sustainability, 12(17): 6836.
30. Saunders, M., Lewis, P. and Thornhill, A. (2009) “Research methods for business students”, 5th edn, Harlow: Prentice Hall and an imprint of Pearson Education.
31. Segendorf, B. (2014) “What is Bitcoin”, Sveriges Riksbank, 73.
32. Shaalan, K. (2020, April) “Cryptocurrency Usage Impact on Perceived Benefits and Users Behaviour”, In Information Systems: 16th European, Mediterranean, and Middle Eastern Conference, EMCIS 2019, Dubai, United Arab Emirates, December 9–10, 2019, Proceedings (Vol. 381, p. 123). Springer Nature.
33. Shaw, S., Rowland, Z. ve Machova, V. (2021) “Internet of Things Smart Devices, Sustainable Industrial Big Data, and Artificial Intelligence-based Decision-Making Algorithms in Cyber-Physical System-based Manufacturing”, Economics, Management and Financial Markets, 16(2): 106-116.
34. Sia Partners (2020) “What Virtual Money”, https://www.sia-partners.com/en/news-and-publications/from-our-experts/what-virtual-money (11.05.2021)
35. The Conversation (2021) “Bitcoin: why the price has exploded – and where it goes from here”, https://theconversation.com/bitcoin-why-the-price-has-exploded-and-where-it-goes-from-here-152765 (11.07.2020)
36. Üzer, B. (2017) “Sanal Para Birimleri”, TCMB Ödemeler Sistemleri Genel Müdürlüğü, Uzmanlık Yeterlilik Tezi, Ankara, Türkiye. Vatan, T. ve Benli, V. F. (2018) “Finansal Sistemin Tarihsel Yapısı İçinde Blockchain Uygulamalarının Kökenleri ve Kripto Paraların Geleceği Üzerine Düşünceler”, İstanbul Ticaret Üniversitesi Teknoloji ve Uygulamalı Bilimler Dergisi, 1(1): 53-64. Velde, F. (2013) “Bitcoin: A Primer”, Chicago Fed Letter, 317, 3-4.
37. West Lothian Council (2004) https://www.westlothian.gov.uk/media/3687/Research-and-Development-Booklet/pdf/ResearchAndDevelopmentBookAug2004.pdf (12.08.2021)
38. Yardımcıoğlu, M. ve Şerbetçi, G. (2018) “Bitcoin'in Yapısı ve Yasa Dışı Kullanımı”,. Al Farabi Uluslararası Sosyal Bilimler Dergisi, 2(4): 165-190.
39. Yli-Huumo, J., Ko, D., Choi, S., Park, S. ve Smolander, K. (2016) “Where is current research on blockchain technology?—a systematic review”, PloS one, 11(10): e0163477.
40. Zainal, Z. (2007) “Case Study As a Research Method”, Jurnal Kemanusiaan, 5(1).
41. Zheng, Z., Xie, S., Dai, H. N., Chen, X., ve Wang, H. (2018) “Blockchain challenges and opportunities: A survey”, International Journal of Web and Grid Services, 14(4): 352-375.
42. Zhou, Q., Huang, H., Zheng, Z. ve Bian, J. (2020) “Solutions to scalability of blockchain: A survey”, IEEE Access, 8: 16440-16455.