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Bitcoin: How Benefit and Cost Shape The Adoption of Virtual Currency

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Bitcoin is a form of virtual currency that can be used as a medium of exchange for goods or services. Different from other forms of virtual payment, bitcoin is de-centralized and puts all of the power in the hands of

Bitcoin is a form of virtual currency that can be used as a medium of exchange for goods or services. Different from other forms of virtual payment, bitcoin is de-centralized and puts all of the power in the hands of the user, rather than a banking institution. However, bitcoin's ability to develop as a renowned medium of exchange has been impeded, potentially due to a lack of knowledge, active bitcoin platforms, and support. In this paper, I conduct a survey to understand factors that affect households' adoption of bitcoin. In particular, I focus on factors that capture the potential benefit and cost of adopting bitcoin. Through a public survey, participants are asked a series of questions on their willingness to adopt bitcoin. I found significant results stating that subjects were more inclined toward bitcoin contingent upon the number of platforms accepting it, the number of acquaintances using bitcoin, and the degree of personal knowledge participants have about bitcoin. These findings suggest that perceived benefit captured by network effect and convenience of use, as well as the potential cost captured by uncertainty help shape the adoption of bitcoin.

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2016-12

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Effects of attitudes, subjective norms, self-efficacy, and bike rodeo participation on Intention to bike safely

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Thousands of children are being injured every day in bicycling accidents. Interventions, like Safe Routes to School, are currently in place to combat injury rates by providing programs to teach children safe biking behaviors. In order to develo

Thousands of children are being injured every day in bicycling accidents. Interventions, like Safe Routes to School, are currently in place to combat injury rates by providing programs to teach children safe biking behaviors. In order to develop effective behavioral change programs, behavior and the components of which it is composed must be understood. Attitudes, subjective norms, and self-efficacy are important predictors of intention to perform a behavior. The purpose of this study was to ascertain the extent to which attitude, subjective norms, self-efficacy, and bike rodeo participation explain third through eighth graders' intentions to bike safely. These constructs were tested using a survey research design in a purposive sample of fifty-seven third through eighth grade students in Safe Routes to School schools in the Southwest. Students took an online survey in the computer lab at their respective schools supervised by a teacher. The study found attitudes to be comprised of three factors: happy/safe, not afraid, and calm. Overall, the model explained approximately 71% of the variance in children's intentions to bike safely, R2=.749, Adjusted R2=.713, F(7, 49)=20.854, p<.01. The significant predictors were happy/safe attitudes, subjective norms, self-efficacy, and a quadratic self-efficacy term explaining 10% (p=.019), 28% (p<.01), 18% (p<.01), and 15% (p<.01) respectively. The results of the study can be used to create future and improve current bike safety interventions for children.

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2011