SECURITY PROTECTION OF PEOPLE AND PROPERTY IN CONNECTION TO BITCOINS

Era of digitalisation introduced new art of fast growing virtual currencies known as cryptocurrencies. To date November 2018, some 2100 cryptocurrencies are listed on renowned portal CoinMarketCap, growing at high pace of 100-200 new increments per month. Many global financial institutions such as Deutsche Bank believe that the invention of Bitcoin and Blockchain has the most disruptive potential since invention of the Internet. But where are other potential areas of cryptos and what are the chances to supplement fiat currencies? This paper synthetises the satus-quo on Bitcoin knowledge while analysing selected monetary aspects such as role and value of money, impact of regulatory constraints, necessity of political sponsorship but also it's volatile market dynamics and speculative nature of investors. In this paper, we present a professional point of view that covers the security and privacy of people and property aspects of Bitcoin.