What is the role of social interactions in the creation of price bubbles? Answering this question requires obtaining collective behavioural traces generated by the activity of a large number of actors. Digital currencies offer a unique possibility to measure socio-economic signals from such digital traces. Here, we focus on Bitcoin, the most popular cryptocurrency. Bitcoin has experienced periods of rapid increase in exchange rates (price) followed by sharp decline; we hypothesize that these fluctuations are largely driven by the interplay between different social phenomena. We thus quantify four socio-economic signals about Bitcoin from large datasets: price on online exchanges, volume of word-of-mouth communication in online social media, volume of information search and user base growth. By using vector autoregression, we identify two positive feedback loops that lead to price bubbles in the absence of exogenous stimuli: one driven by word of mouth, and the other by new Bitcoin adopters. We also observe that spikes in information search, presumably linked to external events, precede drastic price declines. Understanding the interplay between the socio-economic signals we measured can lead to applications beyond cryptocurrencies to other phenomena that leave digital footprints, such as online social network usage.

Online freelancing marketplaces have grown quickly in recent years. In theory, these sites offer workers the ability to earn money without the obligations and potential social biases associated with traditional employment frameworks. In this paper, we study whether two prominent online freelance marketplaces - TaskRabbit and Fiverr - are impacted by racial and gender bias. From these two platforms, we collect 13,500 worker profiles and gather information about workers' gender, race, customer reviews, ratings, and positions in search rankings. In both marketplaces, we find evidence of bias: we find that gender and race are significantly correlated with worker evaluations, which could harm the employment opportunities afforded to the workers. We hope that our study fuels more research on the presence and implications of discrimination in online environments.

On digital media, algorithms that process data and recommend content have become ubiquitous. Their fast and barely regulated adoption has raised concerns about their role in well-being both at the individual and collective levels. Algorithmic mechanisms on digital media are powered by social drivers, creating a feedback loop that complicates research to disentangle the role of algorithms and already existing social phenomena. Our brief overview of the current evidence on how algorithms affect well-being, misinformation, and polarization suggests that the role of algorithms in these phenomena is far from straightforward and that substantial further empirical research is needed. Existing evidence suggests that algorithms mostly reinforce existing social drivers, a finding that stresses the importance of reflecting on algorithms in the larger societal context that encompasses individualism, populist politics, and climate change. We present concrete ideas and research questions to improve algorithms on digital platforms and to investigate their role in current problems and potential solutions. Finally, we discuss how the current shift from social media to more algorithmically curated media brings both risks and opportunities if algorithms are designed for individual and societal flourishing rather than short-term profit.

The availability of data on digital traces is growing to unprecedented sizes, but inferring actionable knowledge from large-scale data is far from being trivial. This is especially important for computational finance, where digital traces of human behaviour offer a great potential to drive trading strategies. We contribute to this by providing a consistent approach that integrates various datasources in the design of algorithmic traders. This allows us to derive insights into the principles behind the profitability of our trading strategies. We illustrate our approach through the analysis of Bitcoin, a cryptocurrency known for its large price fluctuations. In our analysis, we include economic signals of volume and price of exchange for USD, adoption of the Bitcoin technology and transaction volume of Bitcoin. We add social signals related to information search, word of mouth volume, emotional valence and opinion polarization as expressed in tweets related to Bitcoin for more than 3 years. Our analysis reveals that increases in opinion polarization and exchange volume precede rising Bitcoin prices, and that emotional valence precedes opinion polarization and rising exchange volumes. We apply these insights to design algorithmic trading strategies for Bitcoin, reaching very high profits in less than a year. We verify this high profitability with robust statistical methods that take into account risk and trading costs, confirming the long-standing hypothesis that trading-based social media sentiment has the potential to yield positive returns on investment.