This intricate concept of a virtual currency has both positive and negative qualities that could result in whether or not it is deemed a true unit of monetary value. With an increase in popularity surrounding the idea, the price has fluctuated greatly, even rivaling that of gold. Despite the criticism of some monetary analysts, Bitcoin proves to have the potential to be a viable and revolutionized currency because it is decentralized, internationally traded without fees, and gaining popularity in the financial world.
One major distinguishable factor between Bitcoin and other forms of currency, such as the American dollar, is the aspect of a bank or “middle man” that...
... middle of paper ...
...nomist. The Economist Newspaper, 13 June 2011. Web. 10 Dec. 2013.
NerdWallet. "Betting on the Bitcoin Buzz." NASDAQ.com. The NASDAQ OMX Group, 20 Sept. 2013. Web. 11 Dec. 2013.
Pagliery, Jose. "Ron Paul: Bitcoin Could 'destroy the Dollar'" CNNMoney. Cable News Network, 04 Dec. 2013. Web. 11 Dec. 2013.
Timpane, John. "Meeting up over the Mysteries of Bitcoin." Philly.com. Philadelphia Media Network (Digital) LLC, 08 Dec. 2013. Web. 17 Dec. 2013.
Watson, Chris. "Bitcoin from a Professional Trader's View." Telephone interview. 02 Jan. 2014.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- INTRO DUCTION: Annuity is known as the set of equal series of payments, which is made each year. Previously, people used to pay a specific amount to the governments and in return the government used to give benefits to those people. There are several characteristics of annuity such as it is considered as a viable investment driver, which is only considered as the only suitable option in commercial investments because of the nondeductible nature of the annuity. In addition to this, there is no limit as well and annuity holder could invest unlimited funds in an investment and contribution plan.... [tags: Discounted cash flow, Net present value]
957 words (2.7 pages)
- "Education is our passport to the future, for tomorrow belongs to the people who prepare for it today" (Richardson 382). One of the most amazing things people have dreamt to obtain is the “American Dream”. It is so profound in all the things it can symbolize. It is freedom, justice, but most of all, it is a hope for a better way of life. The immigrants who made the long and dangerous voyage to America wanted their children to have experiences that they never got to experience, one of those things being to have an education.... [tags: college cost, education demand, college bubble]
1809 words (5.2 pages)
- An economic analysis of crypto currency Introduction (1000 words) Last year, I read the news and it said something about some guy who bought some kind of currency called “the bitcoin”. This person bought a very small amount of bitcoins, forgot about it, and then realised he had them 6 years later. His bitcoins weren ow worth almost one million dollars. I had never even heard of the bitcoin i did not know what it was, neither had I ever seen or used one. I did not even know how to use them. So I decided to do my dissertation about this very interesting topic.... [tags: Money, Currency, Lower case]
2382 words (6.8 pages)
- With $3 trillion in foreign exchange reserves and a growing need for resources to power its growth, China has been ramping up investments around the world. The Net outward-bound foreign direct investment (FDI) by Chinese companies grew from $5.5 billion in 2004 to $68.81 billion in 2010. Below are the countries China has foreign investments with: • United States: (FDI 2014-2016: $73.94 Billion) • Australia: (FDI 2014-2016: $24.95 billion) • Russia: (FDI 2014-2016: $14.7 billion) • Singapore: (FDI 2014-2016: $7.71 billion) • Canada: (FDI 2014-2016: $6.81 billion) • Myanmar: (FDI 2014-2016: $2.47billion) • South Africa: (FDI 2014-2016: $340 million) Chinese direct investment in the U.S.... [tags: Investment, Foreign direct investment]
934 words (2.7 pages)
- The Crypto Currency: Bitcoin Prelude There are lots of ways to make money: You can earn it, find it, or counterfeit it. Or, if you are Satoshi Nakamoto, you can create it. In November 2008, a mysterious entity going with the persona "Satoshi Nakamoto" published a research paper outlining his design for a new digital currency that he called bitcoin. None of the veterans had heard of him, and what little information could be gleaned was murky and contradictory. On his online profile, he said he is from Japan.... [tags: Currency ]
1487 words (4.2 pages)
- The exchange rate simply refers to the value of a currency in terms of another. In essence, the exchange rate of a country’s currency determines the strength of that currency, or its weakness in relation to other currencies. With the increased extent of globalization, currency exchanges have become commonplace in virtually all countries (Zhang). However, the US dollar remains the mostly used form of currency, and usually serves as a standard measure for all the others, which are demanded by the inhabitants of other nations, as well as those who wish to spend the currency forms in the other countries.... [tags: United States dollar, Currency, Euro, Dollar]
1100 words (3.1 pages)
- Although Global Positioning technology has existed since the mid 1970’s, some of the most significant advancements have taken place within the last five years. In recent months, studies have been conducted by NASA and other institutions concerning the use of advanced GPS technology in both computer controlled flight of commercial aircraft and the establishment of “no-fly safety bubbles” around designated areas and buildings. In essence an aircraft’s computer system would override a manual command and not allow the craft to enter these designated areas.... [tags: Safety Bubble Technology]
1713 words (4.9 pages)
- Dollarization is the replacement of a country’s domestic currency with that of a foreign currency. Dollarization has occurred in several countries including, but not limited to, Panama, El Salvador, and Ecuador. For countries with volatile currencies, dollarization offers them the ability to stabilize their economy. While dollarization has its pros, it is not without its cons, and for Ecuador, this is no exception. In my initial discussion, I believed that dollarization was a positive move for Ecuador; I still feel this way, and now that I have gained a bit more knowledge concerning the macro economy system, I understand how dollarization aided in Ecuador’s economy to stabilize.... [tags: Inflation, Currency, United States dollar]
1320 words (3.8 pages)
- Part 1 SOLUTION 1: Monica is interested in handling investment herself. Being a woman and possessing limited knowledge about investments and market, she will invest more of the money in safe and simple securities. This may include investing in fixed deposits, recurring deposits, life insurance schemes of retirement, gold, investment in 401(K), IRA etc. These are considered as safe investment and do not require much of technical knowledge about market. These types of investments provide steady and continuous return or income after retirement.... [tags: Investment, Capital accumulation, Depreciation]
726 words (2.1 pages)
- The Forward Currency Exchange Market The Reason for the Market The forward Currency Exchange Market allows interested parties to trade forward contracts on currencies (Madura, 2006, p117). Forward contracts are an agreement between a firm and a commercial bank to exchange a specified amount of currency, at a specified exchange rate and on a specified date. Forward contracts are being used around the world to mitigate the risk of wildly fluctuating foreign exchange rates in day to day business transactions.... [tags: Finance Market Investment Trading]
1900 words (5.4 pages)