Brief History of Bitcoin
1. Published
in 2008 by the anonymous creator dubbed “Satoshi Nakamoto” .
2. First
Transaction of Bitcoin was made in 2009.
3. Have gone
through few bugs in the software
4. Begin to
be accepted in major companies such as: WordPress and Microsoft until 2013.
5. Currently,
1 Bitcoin is roughly equal to 291 US Dollar.
Difference between Bitcoin and conventional monetary system
US
Dollar
|
Bitcoin
|
|
Monetary
System
|
Centralized
(e.g. Federal Reserve)
|
Decentralized
(e.g. maintainers)
|
Transaction/
Usage
|
Slow
and not complete anonymity.
|
Fast
and guarantee near complete anonymity
|
Possible
Risks
|
Inflation,
Government
Corruption
|
Fluctuating
value of Bitcoin,
Money
Laundering
|
Reference Links:
Bitcoin main website: https://bitcoin.org/en/
This is such interesting information! I really like how you simplify the differences between U.S. dollars and Bitcoin into an easy-to-read table. I hope you can explore more on how Bitcoin was put into practice and daily usage.
ReplyDeleteGreat use of statistical information. Your post reads concise yet packed with information. I did want to ask about citation placement. While you have a great bibliography, it is not clear which aspects of your data comes from. If I'm being overly critical about structure please accept my apologies. Embedding your cited sources into the information cements the credibility of your information. Well done! I can't wait to hear more about your topic. One thing I wonder, and could be an avenue to explore is the constitutionality of a new currency. Article I, Section 8 gives the sole power to "coin money" to congress. A possible angle could be; would the federal government subvert Bitcoin if it was a perceived threat to the value of the dollar.
ReplyDeleteSorry, my Gmail name appeared in my reply. This is George.
DeleteI've never heard of bitcoin until it was mentioned in class. I liked how you showed the differences between the US Dollar vs. Bitcoin.
ReplyDelete