Bitcoin Mining in Turkey as an Example of Speculative Entrepreneurship

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dc.contributor.authorUymaz, Ali Osman
dc.contributor.authorEsmen, Ali Riza
dc.date.accessioned2026-01-24T12:29:23Z
dc.date.available2026-01-24T12:29:23Z
dc.date.issued2022
dc.departmentAlanya Alaaddin Keykubat Üniversitesi
dc.description.abstractThe main purpose of this study is to determine the dimensions of speculative entrepreneurship for Turkish Bitcoin miners and to determine the motivational factors for becoming entrepreneurs in this area. The study was designed as a quali-tative study where data was collected from a sample of 13 Bitcoin miners. The collected data 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 determined were awareness, arbitrage, and high-profit expectations, whereas the self-manipulation feature was determined to be 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 exist-ing system, the opportunity for absolute privacy, and the excessive interest of society, which would serve as a leverage for arbitrage, with high profit expectation. With their increased level of awareness and knowledge, Bitcoin miners saw the opportunity for arbitrage. As speculative entrepreneurs, Bitcoin miners were aware of the extreme nature of the risk of investing in Bitcoin to gain highly desirable and expected profit by using the arbitrage opportunity in the existing system.
dc.identifier.doi10.26650/ibr.2022.51.866397
dc.identifier.endpage397
dc.identifier.issn2630-5488
dc.identifier.issue2
dc.identifier.startpage375
dc.identifier.trdizinid1166962
dc.identifier.urihttps://doi.org/10.26650/ibr.2022.51.866397
dc.identifier.urihttps://search.trdizin.gov.tr/tr/yayin/detay/1166962
dc.identifier.urihttps://hdl.handle.net/20.500.12868/5329
dc.identifier.volume51
dc.identifier.wosWOS:000876454300001
dc.identifier.wosqualityQ4
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakTR-Dizin
dc.language.isoen
dc.publisherIstanbul Univ, Sch Business
dc.relation.ispartofIstanbul Business Research
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_WoS_20260121
dc.subjectEntrepreneurship
dc.subjectSpeculative Entrepreneurship
dc.subjectArbitrage
dc.subjectCryptocurrency
dc.subjectBitcoin Mining
dc.titleBitcoin Mining in Turkey as an Example of Speculative Entrepreneurship
dc.typeArticle

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