For our blog please find another article that discusses the pro's and cons of Bitcoin. Please compare and contrast your article with the link above and summarize the differences or similarities. Please include a link to your article.
Friday, September 15, 2017
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https://finance.yahoo.com/news/bitcoin-pros-cons-consumers-merchants-140041526.html
ReplyDeleteThe Forbes marketing magazine provides insight on the increasingly controversial bitcoin. With more freedom to experiment on the financial stage, these coins made of code are worth a shot. However, the confidentiality prevents fair regulations as the government is uninvolved. The future of cryptocurrency is unknown. Doubt as expressed in the Forbes article highlights the idea that bitcoins are based on a value that fluctuates unpredictably. This value is based on basic economics - supply and demand; when the demand is high, value rises, and the owner benefits, when the demand decreases, the opposite occurs. In this case, the risks outweigh the benefits. On the hand, Lifewire explains the security in bitcoins. They cannot be tracked to a specific user nor can they be easily hacked. The chain of codes and commands are only processable on strong computers over a longer time period. The question in focus is whether the value is significant enough to officiate this currency.
ReplyDeletehttps://www.forbes.com/sites/adamhartung/2017/08/15/a-bitcoin-is-worth-4000-why-you-probably-should-not-own-one/#f3aab553b082
DeleteNice Teresa.
DeleteThe bitcoin is the new legal tender. Instead of having to pull out a dollar bill you can use an electron bitcoin to make a transaction, with selective merchants. That is because there are no credit cards associated with Bitcoins, they are an easy way of payment and also has a great value which why it can be considered an investment.
ReplyDeletehttp://money.cnn.com/infographic/technology/what-is-bitcoin/
ReplyDeleteI don't know if it's the "new" legal tender. It is a new one but has not replaced cash or credit cards yet. It has a long way to go before it is trusted by buyers and sellers.
DeleteBitcoin is ruled that the digital currency is not money in a money laundering case. The accused launderer was charged for selling $1,500 worth of bitcoins to undercover agents for use in buying stolen credit cards. The retail industry is slow in adopting virtual currency as a payment mode. Speculation is said to be the main driver of bitcoin trading. Which is a con towards the bitcoins.
ReplyDeletehttps://wall-street.com/bitcoin-pros-cons-upcoming-currency/
Good article Jessica.
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