Bitcoin Mining in Turkey as an Example of Speculative Entrepreneurship
Ali Osman Uymaz, Ali Rıza EsmenThe main purpose of this study is to determine the dimensions of speculative entrepreneurship for Bitcoin Turkish miners and to determine the motivational factors to become entrepreneurs in this area. The study was designed as a qualitative study where data was collected from a sample of 13 Bitcoin miners. The collected data thus was analyzed and coded thorough thematic analysis. After determining each participant's profile, a narrative analysis was conducted to ensure the integrity of the research. Some of the key common characteristics thus determined were awareness, arbitrage, and high-profit expectations whereas the self-manipulation feature was determined as low. The key motivation for Participants for investing in Bitcoin was the absence of central management, the beginning of a new financial structure outside the existing system, the opportunity for absolute privacy, and the excessive interest of society, which would serve as a leverage for arbitrage, with high-profit expectation. Bitcoin miners have seen the opportunity of arbitrage with their increased level of awareness and knowledge. As speculative entrepreneurs Bitcoin miners were aware of the extreme nature of the risk investing in Bitcoin to gain highly desirable and expected profit for using the arbitrage opportunity in the existing system.
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Uymaz, A.O., & Esmen, A.R. (2019). Bitcoin Mining in Turkey as an Example of Speculative Entrepreneurship. Istanbul Business Research, 0(0), -. https://doi.org/10.26650/ibr.2022.51.866397
AMA
Uymaz A O, Esmen A R. Bitcoin Mining in Turkey as an Example of Speculative Entrepreneurship. Istanbul Business Research. 2019;0(0):-. https://doi.org/10.26650/ibr.2022.51.866397
ABNT
Uymaz, A.O.; Esmen, A.R. Bitcoin Mining in Turkey as an Example of Speculative Entrepreneurship. Istanbul Business Research, [Publisher Location], v. 0, n. 0, p. -, 2019.
Chicago: Author-Date Style
Uymaz, Ali Osman, and Ali Rıza Esmen. 2019. “Bitcoin Mining in Turkey as an Example of Speculative Entrepreneurship.” Istanbul Business Research 0, no. 0: -. https://doi.org/10.26650/ibr.2022.51.866397
Chicago: Humanities Style
Uymaz, Ali Osman, and Ali Rıza Esmen. “Bitcoin Mining in Turkey as an Example of Speculative Entrepreneurship.” Istanbul Business Research 0, no. 0 (May. 2022): -. https://doi.org/10.26650/ibr.2022.51.866397
Harvard: Australian Style
Uymaz, AO & Esmen, AR 2019, 'Bitcoin Mining in Turkey as an Example of Speculative Entrepreneurship', Istanbul Business Research, vol. 0, no. 0, pp. -, viewed 24 May. 2022, https://doi.org/10.26650/ibr.2022.51.866397
Harvard: Author-Date Style
Uymaz, A.O. and Esmen, A.R. (2019) ‘Bitcoin Mining in Turkey as an Example of Speculative Entrepreneurship’, Istanbul Business Research, 0(0), pp. -. https://doi.org/10.26650/ibr.2022.51.866397 (24 May. 2022).
MLA
Uymaz, Ali Osman, and Ali Rıza Esmen. “Bitcoin Mining in Turkey as an Example of Speculative Entrepreneurship.” Istanbul Business Research, vol. 0, no. 0, 2019, pp. -. [Database Container], https://doi.org/10.26650/ibr.2022.51.866397
Vancouver
Uymaz AO, Esmen AR. Bitcoin Mining in Turkey as an Example of Speculative Entrepreneurship. Istanbul Business Research [Internet]. 24 May. 2022 [cited 24 May. 2022];0(0):-. Available from: https://doi.org/10.26650/ibr.2022.51.866397 doi: 10.26650/ibr.2022.51.866397
ISNAD
Uymaz, AliOsman - Esmen, AliRıza. “Bitcoin Mining in Turkey as an Example of Speculative Entrepreneurship”. Istanbul Business Research 0/0 (May. 2022): -. https://doi.org/10.26650/ibr.2022.51.866397
