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ZENODO
Book . 2026
Data sources: Datacite
ZENODO
Book . 2026
Data sources: Datacite
ZENODO
Book . 2026
Data sources: Datacite
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The Engineer-Physicist's View: What is Bitcoin and Why Does It Have This Price?

Взгляд инженера-физика: что такое Bitcoin и почему у него такая цена?
Authors: Novozhilov, Igor;

The Engineer-Physicist's View: What is Bitcoin and Why Does It Have This Price?

Abstract

This brochure is the first popular-science exposition of the author's research program on the physics of Bitcoin. It presents a new perspective on Bitcoin as a complex technical system—a planetary-scale commercial decentralized distributed computing network (CDDCN). The price of the asset (bitcoin, BTC) is treated not as a financial indicator, but as a macroscopic observable characteristic of the system. The brochure outlines the conceptual foundations of the emerging field of CryptoEconoPhysics—an interdisciplinary domain that studies systems with protocol-defined emission using the methods of engineering physics, complex systems physics, and the mathematical apparatus of nonlinear dynamics. Presented in a popular science format, the work introduces the Diffusion-Emission Model for Bitcoin, which separates the diffusion-driven (social) and emission-driven (protocol) mechanisms of price formation, identifies the structural invariant k = 4, and derives the lower boundary of the price channel directly from Bitcoin's protocol constants. The model establishes the kinematic boundaries of the system's long-term development through price observation. Written in accessible language for readers interested in the technological nature of Bitcoin, the brochure contains no investment recommendations. Instead, it offers a new mental model for understanding the most technologically sophisticated financial asset of the 21st century, emphasizing the physical infrastructure that is inseparably linked to the asset through Bitcoin's emission protocol. This brochure serves as an accessible introduction to the author's scientific paper published on Zenodo. Readers interested in the mathematical derivations, validation methodology, and formal development of the model are encouraged to consult the accompanying publication: Physics of Bitcoin: Kinematics of the Price Channel Defined by Adoption Diffusion and the Emission Protocolhttps://doi.org/10.5281/zenodo.19220905 Learn more about the author:igornovozhilov.ru Research program:cryptoeconophysics.com

Keywords

bitcoin, cryptoeconophysics, complex systems, nonlinear dynamics, technical physics, engineering physics, econophysics, cryptocurrency

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average
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