ipl-logo

Bitcoin Occurrency

788 Words4 Pages

Bitcoin has been in the news the last couple of weeks, but a lot of people are still unaware of them. Could Bitcoin be the future of online currency? This is just one of the questions, frequently asked about Bitcoin.

How Does Bitcoin Work?

Bitcoin is a type of electronic currency (CryptoCurrency) that is autonomous from traditional banking and came into circulation in 2009. According to some of the top online traders, Bitcoin is considered as the best known digital currency that relies on computer networks to solve complex mathematical problems, in order to verify and record the details of each transaction made.

The Bitcoin exchange rate does not depend on the central bank and there is no single authority that governs the supply of CryptoCurrency. …show more content…

Traditional currencies suffer from inflation and they tend to lose their purchasing power each year, as governments continue to use quantative easing to stimulate the economy.

Bitcoin doesn't suffer from low inflation, because Bitcoin mining is limited to just 21 million units. That means the release of new Bitcoins is slowing down and the full amount will be mined out within the next couple of decades. Experts have predicted that the last Bitcoin will be mined by …show more content…

When currencies collapse, it leads to hyperinflation or the wipeout of one's savings in an instant.

Bitcoin exchange rate is not regulated by any government and is a digital currency available worldwide.

Bitcoin is easy to carry. A billion dollars in the Bitcoin can be stored on a memory stick and placed in one's pocket. It is that easy to transport Bitcoins compared to paper money.

One disadvantage of Bitcoin is its untraceable nature, as Governments and other organisations cannot trace the source of your funds and as such can attract some unscrupulous individuals.

How to Make Money with Bitcoin

Unlike other currencies, there are three ways to make money with Bitcoin, saving, trading and mining. Bitcoin can be traded on open markets, which means you can buy Bitcoin low and sell them high.

Volatility of

Show More
Related

  • The China Coin By Allan Baillie And The Arrival By Shaun Tan

    758 Words  | 4 Pages

    Rabih Alameddine once said, “I believe one has to escape oneself to discover oneself.” Discovery is about leaving the comfort zone to gain new understands and renewed perceptions of ourselves. Discover can lead us to new worlds and new values, and enables us to explore the possibilities in the future. Discover also encourages us to find new things that we have never found or thought. Life is a lesson in discovery and literature provides us with a vehicle to explore life's experiences.

    Read More

  • Essay 2006 Ap World History Dbq

    1021 Words  | 5 Pages

    With less silver in European circulation, inflation easily

    Read More

  • Nickel And Dimed

    631 Words  | 3 Pages

    In the first chapter of How to Read Literature Like a Professor by Thomas C. Foster, the list the five aspects that a quest contains. The first thing you need for a quest is to have a quester. Nickel and Dimed by Barbara Ehrenreich seemed to be the perfect book to talk about and the quest she goes on. Ehrenreich writes about her journey through three different cities and how to live there while working minimum wage jobs. Through this book we learn that our quester is courageous and determined to succeed in the different cities.

    Read More

  • Aucoin's Democratic Reform In Canada

    1010 Words  | 5 Pages

    Aucoin Essay Our new prime minister of Canada, Justin Trudeau has given a set of democratic reforms to minister LeBlanc who has been given the task to deal with the problems regarding parliament issues. Our prime minister has promised Canadians real change to the way the government governs by committing to invest in Canada’s growing economy, to strengthen the middle-class, to help the hard working class, to provide help to those whom need it most compared to those who do not need it, and to invest in the public to create jobs, economic growth and a broad-based expansion. Aucoin’s democratic reform proposal tests for good reforms that include clear objectives, no loopholes, clear enforcement mechanism, entrench the house of commons power, fixed

    Read More

  • Iditatod Is A Significant Event

    259 Words  | 2 Pages

    Iditarod essay Have you ever wondered why the iditatod is a significant event ? Because I have.do you wach the iditarod and think “i wonder why we have the iditarod or what is the story behind it or if it is significant . “ the iditarod is a a race in alaska were slaed dogs and humans try to get to a sertent spot wile the sled dogs pool a sled with the humans on . the iditarod is a signiftcan event because it is a tribute to alaskas historic and the role the sled dogs play , to preserve the historic iditorod trail, and it saves the sled dog culture and alaskand huskies .

    Read More

  • Silk Road Dbq

    703 Words  | 3 Pages

    Introduction The “Silk Road” or also referred to as the “Silk Route” was a network of trade routes that consisted of a variety of different routes of land and water, that initially connected China to the Middle East and Europe. The Silk Road was established by China’s Han Dynasty when they opened trade to the west around 130 BCE through 1453 CE (History, n.d). The term “Silk Road” represented China’s primary export leaving China going west to be traded for gold, silver, and wood.

    Read More

  • Token Economy Research Paper

    507 Words  | 3 Pages

    How effective is it? Several researches have been conducted to examine the effectiveness of token economy rewards system in reducing disruptive behaviors whether for the whole school and/ or classroom or for a single student for example: A: Token Economy for the whole school and/or classroom - Wheatley, Charlton, Sanders, & Smith (2009) were concerned about the increasing disruptive behaviors in the common areas such as the cafeterias and playgrounds in school. The study was conducted to target inappropriate behavior such as running and littering. School administrators as well as teachers were trained how to provide Praise Notes as a reward to students who perform a positive behavior.

    Read More

  • How Does The Federal Reserve Affect The Economy

    613 Words  | 3 Pages

    Inflation can be linked to several different reasons. Some main reasons for the cause of inflation are consumer confidence, decease in supplies, and corporate deciding to charge more. (Investopedia) Consumer confidence is when consumers gain more confidence in spending due to a low unemployment rate and wages being stable. As the consumers continue to be more confident in spending this will cause for a high demand of product and services. As the manufacturers and the companies that are providing services see that the demands are going up, eventually they will drive up the prices for the products and services.

    Read More

  • Silk Road Dbq

    830 Words  | 4 Pages

    Throughout history groups have worked together to profit and develop relations. In Asia the countries and groups of people developed the Silk Road, in Rome, the districts owned by the lords that governed them worked with the roman emperor to create a road system. But, these countries who have worked together have sometimes manipulated each other and took advantage of each other. Therefore, when groups work together they can create positive ideas, but in the end have negative outcomes.

    Read More

  • Henry Hazlitt Economics In One Lesson Analysis

    676 Words  | 3 Pages

    Since the creation of the Federal Reserve, inflation has been a persistent, ongoing problem within the United States (Durden, 2013). Since the Federal Reserve is owned by the banks, it is not surprising that it serves the interests of the bank over the American population, and therefore goes against the idea of a free market and biblical principles (Durden, 2013). The value of money is constantly changing and it subject to manipulation by the Federal Reserve. For example, the Federal Reserve can randomly produce money, and add it to the money system, which devalues the currency already in place, and adds to inflation. This is one reason why the value of the U.S. dollar has fallen by 83 percent since 1970 (Durden, 2013).

    Read More

  • External Environment Analysis Of Airbnb

    1609 Words  | 7 Pages

    The offers of accommodations via Airbnb are currently available in 192 Countries and in over 34,000 cities worldwide (O 'Toole, 2014). The valuation of Airbnb, the home-rental platform, is worth of $10 billion after it raised $450 million from private investment firm TPG in 2014 (Spector, Macmillan & Rusli, 2014). The type of business of Airbnb can be categorized to social networking service which focuses on the accommodation-rental service. The concept of Airbnb is actually a sharing economy which enables the customers to become the micro-entrepreneurs at the same time. Airbnb aims at not only providing the accommodation opportunities but also the experiences for people to interact with others all around the world and get to know how the local people live in a certain city and have some culture exchange experiences with international guests and hosts.

    Read More

  • The Four Causes Of Inflation In Trinidad And Tobago

    1729 Words  | 7 Pages

    Inflation is the rate at which the general level of prices for goods and services is rising, and, then purchasing power falling over a period of time. When price level rises, dollar buys fewer goods and services. Therefore, inflation results in loss of value of money.

    Read More

  • Informative Speech: Bitcoin And Other Cryptocurrency

    835 Words  | 4 Pages

    In recent years Bitcoin has invaded the internet giving people the chance to earn money without lifting a finger. II. Thesis: Every year since 2009 Bitcoin has been growing its own international economy without any government regulations. III. Preview: Today we are going to talk about what bitcoin is and how it works, why people like/don 't like it, and the possible regulations of cryptocurrencies.

    Read More

  • Literature Review Of Inflation

    1055 Words  | 5 Pages

    Inflation rate of 1-2% per year are acceptable and even desirable in some ways (Investopedia, 2015). If the inflation rate goes up higher than 3% per year, it might be dangerous as the currency will devalue. According to (Forbes, 2014) the country with the highest rate of inflation is Venezuela, with current inflation rate of 57.30%. There are different types of inflation which are cost-push and demand-pull inflation (Investopedia, 2015). Cost-push inflation happens when we face higher prices due to the increase in cost of production and higher costs of raw materials.

    Read More

  • Reflection About Investment

    856 Words  | 4 Pages

    What money can do for you is what is really important. Money gives you freedom and choices. What I learned from my investment classes is that investing is important. If you keep your money in your back pocket instead of investing it, your money doesn't work for you and you will never have more money than what you save.

    Read More

More about Bitcoin Occurrency

Open Document