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Bitcoin and other cryptocurrencies have recently gained increasing prominence and popularity in the United States and...

Bitcoin and other cryptocurrencies have recently gained increasing prominence and popularity in the United States and across the globe. Do you think bitcoin currently works well as a currency? Why or why not? Does bitcoin satisfy the textbook requirements to be considered "money?" Do you own any bitcoin? Are you using or have you used bitcoin to make purchases? Finally, do you think bitcoin will increase in popularity and use in the future?

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Yes, bitcoin can work well as a currency if implemented / allowed.Currently many countries like India,Qatar,Bangladesh etc.,

Bitcoin is a form of digital currency.It is a crypto currency which means it is produced by people and business across the world using some complex software programs solving mathematical puzzles.It is a method of payment that is independent of bodies like the central banks and factors like demand and supply of currency in the global foreign exchange market.

" Money" is a medium through which the transfer of value takes place from one party to another.

No, I do not own any bitcoin.

No,I am not using any bitcoin to make any purchases as it is illegal here in India

Yes,the bitcoin will increase in popularity and usage in future because the world is moving towards digital currency.Also,due to globalisation and since the transactions involving bitcoins are highly secure,there will be greater adoption in future by more countries across the world.

Now many countries have still not adopted it because : they are not technologically confident that they are able to understand the process and endorse the faith in the process and also the central banks want to retain the control over their currencies which is crucial for many reasons apart from trade.

Hope this solution helps!! Please give a " Thumbs Up " rating for this solution !!

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