Over the past few years, bitcoin has become a globally successful and much followed project. It is a kind of decentralized digital currency, which functions based on mathematical-cryptographical principles and is created using a computationally intensive process called mining. Thousands of other alternative crypto currencies exist, which have so far stayed unnoticed by the media, even though they outperform bitcoin in many aspects. The central topic of this paper is the extensive ecosystem of alternative crypto currencies and an analysis of their mining process. The goal is to demonstrate, by means of a practical example, how alternative crypto currencies are mined and also to find out, if it's possible to mine crypto currencies profitably with specific type of a graphic card. To successfully reach this goal I had to first analyse the ecosystem of crypto currencies. Subsequently I compared different crypto currencies to one another and eventually successfully implemented the mining operation and evaluated its results. The main contribution of this paper is to answer the question of whether and how alternative crypto currencies can be profitably mined. I believe the particular benefit of this work rests not only in the practical demonstration of how alternative crypto currencies are mined but also in the summary description of the crypto currency ecosystem's composition and the factors that influence the price of these crypto currencies. Structurally, this paper is divided in three main parts. The first part is dedicated to the explanation of the term crypto currency, what it comprises and according to which principles it functions. The second part contains an analysis of the ecosystem as well as a comparison of a fixed sample of alternative crypto currencies. The third part is the practical part, during which I undertook a real mining operation.

The main goal of this diploma thesis is to explore the area of virtual currency Bitcoin and assess the use of this currency in today's economy. Thesis first mentions the cryptocurrency market, the technology and other altcoins. It further analyzes the cryptocurrency Bitcoin in detail, its foundation, history and mining. The text also explores the volatility of this currency in the recent years, the question of regulation by states and technological threats to the network. In the final chapter diploma thesis examines the possibilities for individuals to obtain this currency and the use of Bitcoin by enterprises.

This study is within the field of financial innovation and entrepreneurship. The thesis’s primary purpose is to investigate how and why entrepreneurs in Sweden are positioning themselves in regarding Initial Coin Offerings as a new financial vehicle based on the Swedish regulations and the underlying factors to the entrepreneur’s point of view. The literature contributes a limited knowledge of the Swedish industry concerning ICOs, and therefore this research aims to enhance awareness. Through qualitative research based on eleven interviews, we conclude there is a general lack of knowledge and risk-aversion from the absence of regulations in Sweden. Furthermore, all interviewed entrepreneurs were open-minded about an ICO with certain limitations. Considering that, on average, an enticing secondary market has existed for the tokens issued by ICOs, and a remarkable amount of money has been left on the table by project promoters, investors seeking for potential profit have hoarded the cryptocurrency space, creating a situation similar to the dot-com bubble. Thus, we also discuss the benefits, drawbacks, and the possible fate regarding ICOs, a new financing method that should not be overlooked.