News Finding: Bitcoms do not belong to anyone.
Paper Finding: The VAR reveals the following feedback cycles: -'social' cycle: search volume increases with price (f P,S ¼ 0.386), word of mouth increases with search volume (f S,W ¼ 0.243), and price increases with word of mouth (f W,P ¼ 0.1).
News Context: "The big question is how such a high-performance system could be used for collaborative activities which go beyond the production of money", comments Perony. Bitcoms do not belong to anyone. This study already outlines today the tools for accurately quantifying and analyzing the social dynamics of collaborative systems of this kind in the future.
Paper Context: In this statistical model, the change in each variable on a given day fDU t , DP t , DS t , DW t g is a linear combination of the changes in all variables fDU t21 , DP t21 , DS t21 , DW t21 g on the previous day, including a deterministic, a periodic and an error term . The VAR reveals the following feedback cycles: -'social' cycle: search volume increases with price (f P,S ¼ 0.386), word of mouth increases with search volume (f S,W ¼ 0.243), and price increases with word of mouth (f W,P ¼ 0.1). Simultaneously accounting for all dependencies between the four variables emphasizes the influence of word of mouth on price, revealing a stronger relation than cannot be observed with pairwise correlation analysis (more details in the electronic supplementary material, §S3).