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Market Research Report

Bitcoin

Published by Global Industry Analysts, Inc. Product code 298940
Published Content info 110 Pages
Delivery time: 1-2 business days
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Bitcoin
Published: September 1, 2016 Content info: 110 Pages
Description

This report analyzes the global market for Bitcoin in terms of Cumulative Number of Bitcoins in Circulation in Thousands. Annual estimates and forecasts are provided for the period 2015 through 2020. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based on public domain information including company URLs. The report profiles 52 companies including many key and niche players such as -

Bitmain Technologies Ltd.
Butterfly Labs, Inc.
Genesis Coin, Inc.
KnCMiner AB
AntPool

Table of Contents
Product Code: MCP-7895

Table of Contents

I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

  • Study Reliability and Reporting Limitations
  • Disclaimers
  • Data Interpretation & Reporting Level
    • Quantitative Techniques & Analytics
  • Product Definitions and Scope of Study

II. EXECUTIVE SUMMARY

1. INDUSTRY OVERVIEW

  • Bitcoin: Is It a Failed Experiment in Cryptocurrency?
  • Unlike Previous Crises in Bitcoin Services Ecosystem, Will the Current Blockchain Challenges at the Core of the Bitcoin Wield the Final Death Blow?
  • The Politics of Increasing Block Size Ravages the Bitcoin Economy
  • The Tale of Two Bitcoins: Will Bitcoin Survive the Coming Halving of the Bitcoin Network?
  • Why the World Is Not Ready for the Cryptocurrency?
  • The Answer to the Question "Is Bitcoin Dead?" Depends on How We Look at Disruptive Financial Technologies
  • The Rise of the Blockchain Technology from the Ashes of Bitcoin Marks a New Way Forward
    • Table 1: Rise in Online Banking Fraud Related Losses Drives Interest in Building Blockchain-Based Banking Systems for Foolproof Security: World Online Banking Fraud Losses (in US$ Billion) for the Years 2010, 2012, 2015 and 2018 (includes corresponding Graph/Chart)
  • An Overview of Current Events & Insights
  • 2016 Bitcoin Price Predictions Remain Bullish
    • Table 2: After Two Years of Slide from the November 2013 Peak, Bitcoin Prices to Rally in the Year 2016 With Future Price Movements Expected to be Unstable and Volatile: Average Price of Bitcoin (In US$) for the Years 2014, 2015, and YTD 2016
  • A Look into the State Of Bitcoin Heading into the Year 2016
  • Belt Tightening in the Bitcoin Industry to Witness VC Finding in Bitcoin Start-Ups Vanish
    • Falling VC Funding, Slow Consumer Adoption & Unviable Business Models Lead to the Widening of Bitcoin's Deadpool to Over 30 Casualties in 2 Years: Listing of Select Bitcoin Startups that Died Over the Years 2014 & 2015
    • Table 3: Falling % Growth in VC Investments in Bitcoin Startups Corroborates the Belt Tightening Trend in the Bitcoin Industry: Quarterly Decline in Growth (In %) in VC Investments for the Years 2014 & 2015 (includes corresponding Graph/Chart)
  • Bitcoin as a Payment & Funds Transfer Platform Fails....
    • Table 4: Escalation in Unconfirmed Transactions Kills Bitcoin's Potential as a Payment Platform & as a Substitute for Credit Cards: Half-Yearly Cumulative Total of Unconfirmed Transactions (In Million) for the Years 2014, 2015 & 2016 YTD (includes corresponding Graph/Chart)
    • In Addition to Weak Privacy, Transaction Delays Emerge as a Primary Bottleneck, Capping the Currency's Potential to Rival Cash
  • Competing Digital Currencies Gain in Popularity as Bitcoin Networks & Their Transaction Processing Capabilities Slows Down to a Snail's Pace
  • Bitcoin ATM Installations Slowdown, While Closures & Non-Operational & Offline Units Increase
    • Table 5: Installed Number of Bitcoin ATMs Worldwide for the Years 2015 & 2016 (includes corresponding Graph/Chart)
    • Table 6: Disproportionate Spread of Bitcoin ATMs Mirrors the Technology's Haphazard Popularity & Mixed Success Worldwide: Percentage Breakdown of Bitcoin ATMs by Region for 2016 (includes corresponding Graph/Chart)
  • Love-Hate Relationship With Bitcoin Leads the Chinese Government to Play a Dubious Role in the Currency's Evolution
  • Bitcoin Attracts Flake for Being an Energy Inefficient Based Money System
  • Rising Difficulty in Mining Bitcoins Makes Mining Operations Unviable
    • Table 7: Average Mining Revenue Per Day (In US$) Paid in the Form of Block Rewards & Transaction Fees for the Years 2015 & 2016 (includes corresponding Graph/Chart)
  • Bitcoin Mining Hardware & Cloud Based Bitcoin Mining Grow in Popularity
  • Complexity of Bitcoin Mining Drives Popularity of Pooled Mining
  • Weak Banking Systems & High Mobile Penetration Favor Bitcoin Proliferation in Africa

2. THE HISTORY OF BITCOIN, ITS EVOLUTION, ITS SHORTLIVED ASCEND TO BOOM, ITS DOWNFALL & THE LONGLASTING VALUE OF ITS PRIMARY TENETS & PRINCIPLES

  • The 2007-09 Recession Marks The Emergence of The Bitcoin System
  • Continued Global Market Instability of 2009-2014 Fuels Bitcoin's Rise to Boom
  • Argentina Goes Down in History as One of the Early Adopters of Bitcoin Fuelling its Early Boom
  • Partial Government Shutdown in the U.S. Triggers the Escalation in Bitcoin Value Witnessed in 2013
  • Bitcoin's Early Promise as a Full Reserve Banking Alternative to Fractional Reserve Banking System
  • Bitcoin's Liquidity Characteristics & Its Hyped Ability to Challenge Fiat Currency
  • A Retrospective Review of Bitcoin's Early Rise to Fame & Its Ensuing Downfall
  • The Rise to Fame...
  • The Epic Fall From Grace...
  • A Peek Into the String of Events That Crippled the Bitcoin System Since its Emergence
  • Troubled by its Early Success, Governments Wield the First Major Blow to the Bitcoin Economy
  • How the U.S. Government Killed Innovation in Bitcoin...
    • By Bringing Bitcoin Under the BSA Act
    • By Introducing 'BitLicense'
    • By Taxing Bitcoin
  • Loopholes in Bitcoin Network & Trading Technology Wields the Second Major Blow to Bitcoin's Technological Integrity
  • Busting of the Silk Road Drug Market Wields the Third Mortal Blow to Bitcoin's Fragile Reputation
  • Use of Bitcoin as an Investment Asset Wields the Final Blow to Bitcoin's Potential as a Future Currency

3. BITCOIN: CONCEPTUAL OVERVIEW

  • Bitcoin: An Introduction
  • History
  • Regulatory Environment
  • Key Benefits Driving Adoption of Bitcoin
  • Pseudo-Anonymity & Privacy
  • Immune to Monetary Inflation
  • Impervious to Manipulation
  • Irreversible Transactions
  • Portability
  • Low Cost
  • Divisibility
  • Economic Independence
  • Key Challenges to Adoption of Bitcoin
  • Bitcoin Anonymity & Unregulated Attributes
  • Lack of Accountability
  • Impairs National Development
  • Hoarding & Speculative Trading
  • Inequitable Distribution of Wealth
  • Extreme Volatility
  • Merchant Acceptability
  • Irreversible
  • Security Breach
  • Difficult to Coordinate
  • Negative Foundation
  • Vulnerable to Malicious Manipulation
  • The Promising Future of Cryptocurrency Spurs Competitive Alternatives to Bitcoin
  • Litecoin (LTC)
  • PPCoin (PPC)
  • Freicoin (FRC)
  • MintChip
  • Feathercoin
  • Ripple
  • "Bitcoin Bridge" to Ripple: A Threat or an Opportunity?

4. PRODUCT LAUNCHES

  • Bitwage Introduces Bitcoin Payroll Services in Mexico
  • Gemini Unveils Bitcoin Services in the UK
  • BTCC Introduces New Titanium Physical Bitcoins
  • Ciphrex Unveils Bitcoin Wallet
  • CoinTerra(tm) Unveils GSX I(tm) Bitcoin Mining Card

5. RECENT INDUSTRY ACTIVITY

  • Vitaxel Inks Agreement with Bitspark to Introduce Bitcoin Remittance Service in Malaysia
  • Blockstream Takes Over GreenAddress
  • Kraken Takes Over CleverCoin
  • Coinsecure Inks Partnership Agreement with BitPay
  • KinerjaPay Enters into Partnership with Bitcoin Indonesia
  • Kraken Takes Over Cavirtex and Coinsetter
  • BitGo Forms Partnership with Kraken Bitcoin Exchange
  • Coinify Forms Bitcoin Partnership with DigixGlobal in Singapore
  • Coinbase Forays into Singapore Bitcoin Market
  • Coinbase Enters into Canadian Bitcoin Market
  • Ripple Enters into Asia-Pacific Bitcoin Market
  • Coinbase Forays into the UK Market
  • WPCS Concludes Agreement on Divesting its Seattle Operations
  • Microelectronics Technology Corporation Buys Bitcoin Miner Company
  • LeoGroup Uses Bitcoin to Buy Stradivarius Violin
  • BitPay Inaugurates its Amsterdam based European Headquarters
  • Bitcoin ATM Introduced in New Zealand
  • Overstock.com Begins Accepting Bitcoin Payments
  • RMBTB Shuts Down Trading Operations

6. PLAYERS IN THE BITCOIN ECOSYSTEM

  • Bitcoin Mining Equipment Manufacturers
  • Bitmain Technologies Ltd. (China)
  • Butterfly Labs, Inc. (USA)
  • Genesis Coin, Inc. (USA)
  • KnCMiner AB (Sweden)
  • Bitcoin Mining Pools & Companies
  • AntPool (China)
  • BitFury Group Limited (USA)
  • Eobot
  • F2Pool (China)
  • Genesis Mining (Hong Kong)
  • P2POOL.ORG
  • Slush's Pool
  • Bitcoin Exchanges & Trading Platforms
  • Bit2C (Israel)
  • Bitcoinde (Germany)
  • Bitcurex (Poland)
  • Bitfinex (Hong Kong)
  • Bitstamp Ltd. (UK)
  • BTC Markets (Australia)
  • BTCChina (China)
  • BTC-e (USA)
  • Campbx (USA)
  • Coinbase (USA)
  • Huobi (China)
  • Kraken (US)
  • OKCoin (China)
  • Bitcoin Brokers, Wallet Providers & Payment Processing Companies, Among Others
  • 1Broker (USA)
  • Airbitz (USA)
  • BitPay, Inc. (USA)
  • Blockchain.info (Luxembourg)
  • Blockstream (USA)
  • BlockTrail B.V. (The Netherlands)
  • BTCJam (Brazil)
  • Coinsetter Inc. (USA)
  • Gliph, Inc. (USA)

7. GLOBAL MARKET PERSPECTIVE

    • Table 8: World Recent Past, Current and Future Analysis for Bitcoin Analyzed by Cumulative Number of Bitcoins in Circulation in Thousands for Years 2015 through 2020 (includes corresponding Graph/Chart)
    • Table 9: World Historic Review for Bitcoin Analyzed by Cumulative Number of Bitcoins in Circulation in Thousands for Years 2010 through 2014 (includes corresponding Graph/Chart)

COMPETITIVE LANDSCAPE

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