Essay about Good Bye Money Welcome Bitcoin

Essay about Good Bye Money Welcome Bitcoin

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GOOD BYE MONEY WELCOME BITCOIN.

Introduction & Overview

Time demands improvement in technology, every other sector needs updates and upgrades in existing systems and applications. All operational sectors look forward to attain efficiency and effectiveness in day to day operations. Business world give emphasis on a belief i.e., Time is money, hence it is crucial to make sure we use our time in a best way to squeeze out all the possible benefits.
From early civilizations, i.e., Mesopotamia and Indus, traces have been found that people were using good to get other kind of good, say a ton of Wheat to get a ton of Rice, later scholars gave a name to that system i.e., Barter System. Phoenicians adopted Barter system and Babylonians then improved the bartering system. It has been found that Romans used salt to pay the salary of their soldiers as salt was considered as an valuable item.
Explorers, mainly European traveled around the world and used furs to exchange Silk. As time pass by, the than richest Chinese kingdom introduced Coins and later we all know we got Fiat money.
But in initial stages of Fiat money, barter system does not come to an end infact it became more systematic. During great depression of 1930s, when Late. Franklin D. Roosevelt, the then President of US, requested all American to deposit the gold they were having to maintain the flow of money and it was during that time when people used barter system to exchange food and other needful products.
From Oldest Civilization to Middle ages, from great depressions of early 20th century till we finally experienced another recession in the era of highly smart tech savvy people where we have multiple modes to make payments debit and we have the power to purchase goods by me...


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...raises two key this dramatic boom-bust phase constitute a bubble? More importantly, does bitcoin have a positive fundamental value? Since we know in 2008, Bitcoin was originally introduced by Santoshi Nakamoto whose entity is still a mystery during that time we also had a economy melt down so people could not welcome Bitcoin with open arms as they were concerned about the monetary security.
This new kind of currency was created by maths by an anonymous inventor i.e., Santoshi. So, it became very crucial to check the solidity and the level of reliability
In their finding, they mentioned, “Bitcoin and other cryptocurrency markets have been under-explored academically, they also wrote that Bitcoins are prone to speculative bubbles. Here one thing that catch our utmost attention was empirical study proves that the fundamental value of bitcoin is zero ((Eng-tuck Cheah)

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