Cryptocurrency
Transcript: Daylan A. Murillo Cryptocurrency a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. What is Cryptocurrency? What is it? is a type of currency available only in digital form, not in physical (such as banknotes and coins). It exhibits properties similar to physical currencies, but allows for instantaneous transactions and borderless transfer-of-ownership. Digital currency Currency how does it compare to fiat money “fiat” money - money not backed by gold, but by the authority - seal of approval (fiat) - and the trust of each sovereign nation’s government. stable supply and stable value widely accepted and durable Why it Benefits the people Benefits Like a stock market, you can invest the smallest amount of money and still make a profit while spending. Easily transferable to one another. Spend your money and no one has to know what you spent it on. Why are you afraid of Cryptocurrency? Skepticism The fear of being scammed - “Baked into the Bitcoin protocol, there is support for what are known as "m-of-n" or "multisignature" transactions, transactions that require some number m out of some higher number n parties to sign off.” (Bitcoin Transactions Are Reversible 4). What if i get a fake coin? - the virtual currency is nothing more than a public ledger system, called the blockchain, that keeps track of an ever-expanding list of addresses, and how many units of bitcoin are at those addresses. What I believe The future Holds The Big Picture That it will not replace our economy now but will play a major roll. Cancels out the middle man, allowing us to keep a sense of privacy. Get ahead of the future One Last brief summary of Cryptocurrency How Does it actually work? It continues to grow Major differences A Peer to peer allows money to go between people without any transaction history. Made possible with its coding. B Growing popularity What Happens when a new cryptocurrency joins the market V.S the original cryptocurrency C Differences between fiat money and Cryptocurrency References References -Bitcoin Transactions Are Reversible (2015) Bitcoin Transactions are Reversible. Opposing view point. -Is Cryptocurrency Real Money? (2017, August). Is Cryptocurrency Real Money? Brief Discussion on Major Issues Surrounding Debate. Daily Short Recap of The Biggest Cryptocurrency. Retrieved from https://cointelegraph.com/news/is-cryptocurrency-real- money-brief-discussion-on-major-issues-surrounding-debate -Joshi, D. (2017, October). As financial institutions invest in blockchain tech, how secure is your information? Business insider. Retrieved from http://www.businessinsider.com/secure-cryptocurrency-blockchain-technology-2017-10 -Pujara, K. (2017, November). Cryptocurrency – is it getting too big to fail?. Your story. Retrieved from https://yourstory.com/2017/11/cryptocurrency-getting-big-fail/ -Rosic, A. (2017, N.A) What is Cryptocurrency: Everything You Need To Know [Ultimate Guide]. Block geeks. Retrieved from https://blockgeeks.com/guides/what-is-cryptocurrency/ -The Future of Cryptocurrency (N.A) The Future of Cryptocurrency. Investopedia. Retrieved from https://www.investopedia.com/articles/forex/091013/future-cryptocurrency.asp