Discuss the advantages and risks of crypto-currencies like the Bitcoin. Approach Introduce with the concept of cryptocurrency Discuss its advantages Highlight the risks Conclude with the government’s position that they have been outlawed Cryptocurrency is an electronic or digital currency that works on a peer-to-peer basis without the need for a trusted third party such as a governmental agency, bank etc. Cryptocurrencies have gotten impressive … Continue reading Discuss the advantages and risks of crypto-currencies like the Bitcoin.
Bitcoin is a digital currency that is not supported by any country’s government or central bank. It can be traded for services or goods with sellers who accept bitcoins as payment. Bitcoin was first introduced in October 2008. It was invented by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto. The system is peer-to-peer (person to person using bitcoins) and transactions take place … Continue reading Bitcoin