Characteristics of Bitcoin Users: An Analysis of Google Search Data

Wilson, Matthew and Yelowitz, Aaron (2014): Characteristics of Bitcoin Users: An Analysis of Google Search Data.

Abstract

The anonymity of Bitcoin prevents analysis of its users. We collect Google Trends data to examine determinants of interest in Bitcoin. Based on anecdotal evidence regarding Bitcoin users, we construct proxies for four possible clientele: computer programming enthusiasts, speculative investors, Libertarians, and criminals. Computer programming and illegal activity search terms are positively correlated with Bitcoin interest, while Libertarian and investment terms are not.

• Item Type: MPRA Paper
• Language: English
• Keywords: Bitcoin, Digital currency, Google search data, Libertarians, Illegal Activity
• Subjects: E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E42 - Monetary Systems ; Standards ; Regimes ; Government and the Monetary System ; Payment Systems; F - International Economics > F3 - International Finance > F33 - International Monetary Arrangements and Institutions; K - Law and Economics > K4 - Legal Procedure, the Legal System, and Illegal Behavior > K42 - Illegal Behavior and the Enforcement of Law; K - Law and Economics > K4 - Legal Procedure, the Legal System, and Illegal Behavior > K49 - Other

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