What does the Bitcoin mean for the US and global economy?
bitcoin is a digital currency which aims to do away with all the problems we have paying things online,the system now going though the banks are taking their cuts for the transaction as fees,there is a always a double spending problem, in 2008 an programmer offered a solution called satoshi nakomoto .proposed a papper on system of currency that solves the all the problems faced rightnow like double spending problems that solves the fiddly problems.his proposal was instead of bank or credit card company recording every transation on single ledger all of the users record all of the transations at the same time as a result any attempt to fool the community would be noticed and payment rejected.no one can use a government or bank can force a fee on a payment or control its flow , the result is quicker cheaper and easier way to spend money even across national borders
According to research produced by Cambridge University in 2017, there are between 2.9 million and 5.8 million unique users actively using a cryptocurrency wallet, most of them using bitcoin.The U.S. Treasury termed bitcoin as a decentralized virtual currency.
1 Bitcoin equals
8,741.76 United States Dollar
globally bitcoin makes a beneficial rise in economic activities,more power to businessmans and increased transparency of transation
What is Bitcoin and how does cryptocurrencies (bitcoin) work? Do you think this is an alternative for Currency in circulation?
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1. What does the term ‘shadow economy’ mean? 2. How does the shadow economy affect GDP in different countries? 3. What are the main factors influencing the shadow economy? 4. Why is the shadow economy a challenge for the governments?
How would you explain what BitCoin is to your parents or grandparents? 2) Why does the SEC not like the idea of a BitCoin exchange traded fund (ETF)? 3) Do you think BitCoin will still be around 5 years from now? 4) Regardless of your answer to #3 above, what other legitimate uses are there for the technology behind BitCoin (i.e. the distributed ledger and blockchain)?
Can you convert Bitcoin to Cash?If so how? Does Bitcoin have other cryptocurrency rivals? If so, who? How big is the Bitcoin market in dollars?
1) How would you explain what BitCoin is to your parents or grandparents? 2) Why does the SEC not like the idea of a BitCoin exchange traded fund (ETF)? 3) Do you think BitCoin will still be around 5 years from now? 4) Regardless of your answer to #3 above, what other legitimate uses are there for the technology behind BitCoin (i.e. the distributed ledger and blockchain)?
1. What does the term ‘shadow economy’ mean? 2. How does the shadow economy affect GDP in different countries? 3. What are the main factors influencing the shadow economy? 4. Why is the shadow economy a challenge for the governments? 5. Reflection – the students also should include a paragraph in the initial response in their own words reflecting on specifically what they learned from the assignment and how they think they could apply what they learned in the workplace.