Nowadays there are a lot ways of payment for goods and services. For instance, debit and credit cards, Android Pay, Apple Pay, e-Check, and Visa Checkout. But there are also ways for us to earn it, use it or counterfeit it where it is called cryptocurrency. Most of countries in this world used this type of currency. What is cryptocurrency? A cryptocurrency or in the other word crypto currency is a digital asset that was designed to work as a medium of exchange using cryptography. The function is to control or maintain the creation of additional units of the currency and also to secure the transaction. In other way, Cryptocurrency is a modified electricity into a line of code with the value of money. In the simplest of terms, cryptocurrency is a digital currency. The first cryptocurrency is Bitcoin which was created in 2009. Bitcoin is a …show more content…
One of the disadvantages is lack of awareness and understanding. Most people still not understand what is bitcoin and how its work. They may be easily tricked by the seller. So we as customers must learn more about this type of cryptocurrency. Besides, bitcoin is still developing. Only a few business use bitcoin so the price on bitcoin will increase daily. Although bitcoin can use in many country, but not all place accept bitcoin. Only small group of online merchants accept bitcoin. So we cannot fully depend on bitcoin because maybe one day government may force the merchants to stop from accepting the bitcoin. Last but not least, our bitcoin in wallet can be lost within seconds if a virus corrupts the data or the hard drive crashed.
In conclusion, bitcoin has its pros and cons. Bitcoin is still a new financial to the world. The society is still getting to understand more about bitcoin and how it works. Some people consider that bitcoin has many advantages, but there are also consider it have many disadvantages. It's up to the person's view. Therefore, we need to know more about
I know of a hero who are Los Angeles Police Detective Richard Flores and his wife Melisa of Rancho Cucamonga, California. Both had attended the Route 91 concert event on 1 Oct 2017 in Las Vegas, Nevada, the day a mad man shot and killed 58 and wounded 497 people. Detective and Mrs. Flores were standing near the main concert stage when the shooting began. Once it was safe, they ran toward an ambulance and found that it was open but no one was inside, it was empty. Detective Flores and his wife took gauze, tubes and anything that would stop the bleeding. Both Detective Flores and his wife are credited with saving 14 lives. The only reason they left the crime scene was that both Detective Flores and his wife were holding tourniquets on separate
There are many pros when it comes to the internet. It allows family members in different states to keep in touch with one another. For example, my family is currently planning a surprise party for my grandmother, and to keep it a secret we have planned everything in a group message on the social media website, Facebook, Similarly, the internet also keeps Americans updated on what is going on in the world. Social media websites have become more popular than they were in 2008. Online classes were made possible by the internet for students who want to go back to school, or for students who are in school and
There is also repeated evidence of social disparities in the prevalence of obesity and overweight. Links have been made why disparities exist in the prevalence of obesity especially among disadvantaged ethnic minority groups. Henderson and Kelly (2005), suggest that these disparities exist because of inequalities in the society they argue that people with more knowledge, money, power, prestige and beneficial social connections are better able to control weight gain, either through the ability to make food choices or through greater opportunities for exercise and safe play. This view is supported by Sniderman et al., (2007), who found no disparities in prevalence of obesity among ethnic groups when he factored in adjustments of socio economic
The biggest disadvantage is that it is a highly enticing and luring loan product. So, as borrower if you are not disciplined and prudent, you could end up borrowing such loans from three or four lenders and find yourself in a big problem. Since the interests rates are very high, and the term often force people into rolling over the loan for additional term, you could literally find yourself in a debt trap not knowing how to get out of it. Furthermore, there could also be some hidden costs which you might come to know only when the loan has been credited to your account, make sure you ask for these before borrowing. All payday loans involve fees and interest payments. The charges associates with a payday loan are quite higher than your average
What drives a man to commit horrendous acts. Is it his ambitions or is it the influence of others
On your way to work, you stop by the gas station to fill your car with gas. When it comes time to pay, instead of pulling out your credit or debit card, you enter your Bitcoin information. What is Bitcoin? Is it just another online payment method like PayPal, or is Bitcoin something more? Googling “Bitcoin” returns a vague answer that defines Bitcoin as a peer-to-peer crypto-currency. This “answer” only raises more questions. The problem with defining crypto-currency lies in the fact that the term itself is linked with Bitcoin. Crypto-currency is used as a general definition for Bitcoin and other similar online currencies. Knowing what the term crypto-currency stands for still does not answer the
disadvantages” sadly I have to agree with that comment because for example if you go to
Short Analyses: Julius Caesar 1. What is the life question the story presents? The life story presented in William Shakespeare’s play Julius Caesar is, “Can we change our destiny, or is our path set in stone?” 2.
First, if it's still an international concept for you, cryptocurrency is any of a number of digital money that can be made use of for online deals without intermediaries such as financial institutions. Without financial institutions, cryptocurrency can be traded and made use of for business between 2 or even more individuals without the oversight-- as well as expense-- of those intermediaries.
Bitcoin is a network that enables a different type of payment system it is used a lot for purchasing objects of the dark web and completely digital money. It is the first peer-to-peer payment network that is powered by its users with no central authority or middlemen (someone who buys goods from producers and sells them to retailers or consumers). From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence.
Some disadvantages are the possibility of a monopoly, inequality, recession and unemployment. Powerful businesses can sometimes get carried away and dominate in one field, leaving it up to them to abuse their power and set high prices. The passing down of wealth to future generations can sometimes impact society. For example, if a small group of people hold all the wealth and that wealth continues to be passed down for generations, inequality will occur since no one will be able to prosper but that one group. Despite that, an economy that is based on the market of consumers and producers is inevitably going to fluctuate so it is important to keep things in check (“Capitalism vs.
However, every coin has two sides and blockchain technology is not an exception. Therefore, let me point out the main disadvantages:
Some advantages of Bitcoin are that they are transferred directly from person to person, fees are much lower, they can be used in any country and accounts cannot be frozen and no prerequisites or arbitrary limits exist. On the other hand, there are privacy and security issues that arise since bitcoins are shared publically online sometimes making it the go-to currency for criminals online.
disadvantages: one of the most important yet most unfortunate disadvantage is that it may cause
During the festive season, we don’t need to visit crowed stores to buy our stuff. We can make online purchases at a bargain price.