United States Dollar and Currency
1.
International Business Issue
- Can Bitcoin be a stable currency for international business?
Definition, Application, and Prospection
1)What is Bitcoin?
Bitcoin is an open source peer-to-peer payment network and digital currency introduced in 2009. It is the first decentralized digital currency. It is the digital coin that you can send through the internet. Compare to other alternatives, Bitcoins have a number of advantages.
Bitconins are transferred directly from person to person. This means that the fees are much lower you can use them in every country. Bitcoins are generated all over the internet by anybody running a free application called a bitcoin miner. Mining requires certain amount of work for each block of coins. This amount is automatically adjusted by the network such the bitcoins are always created at a predictable and limited rate. And then, bitcoins will be stored in digital wallet which might look familiar with an online banking. When people transfer bitcoins, an electronic signatures added. After few minutes, the transaction is verified by miner and permanently stored in the network. Several currency exchanges exist what you can trade your bitcoins for dollars, euros and more.
2) Controversy about Bitcoin - Can Bitcoin substitute real currencies?
Bitcoin is one of the most controversial issues in recent international business. Can we take bitcoin as a real currency for trading goods? The answer is yes. Let me take the Gold as an example of a substitute for currencies. The reason why the Gold has the value of money is that people consider it as money. For thousand years, the Gold has been considered as precious as currency. For now, the Bitcoin started to replace the Gold, money and checks. Now, people started to believe the bitcoin has a value as money and they are really trading goods with the bitcoin. The rate of using bitcoin has been rising rapidly in China, Japan, and the states. Also, the value of bitcoin has
International Business Issue
- Can Bitcoin be a stable currency for international business?
Definition, Application, and Prospection
1)What is Bitcoin?
Bitcoin is an open source peer-to-peer payment network and digital currency introduced in 2009. It is the first decentralized digital currency. It is the digital coin that you can send through the internet. Compare to other alternatives, Bitcoins have a number of advantages.
Bitconins are transferred directly from person to person. This means that the fees are much lower you can use them in every country. Bitcoins are generated all over the internet by anybody running a free application called a bitcoin miner. Mining requires certain amount of work for each block of coins. This amount is automatically adjusted by the network such the bitcoins are always created at a predictable and limited rate. And then, bitcoins will be stored in digital wallet which might look familiar with an online banking. When people transfer bitcoins, an electronic signatures added. After few minutes, the transaction is verified by miner and permanently stored in the network. Several currency exchanges exist what you can trade your bitcoins for dollars, euros and more.
2) Controversy about Bitcoin - Can Bitcoin substitute real currencies?
Bitcoin is one of the most controversial issues in recent international business. Can we take bitcoin as a real currency for trading goods? The answer is yes. Let me take the Gold as an example of a substitute for currencies. The reason why the Gold has the value of money is that people consider it as money. For thousand years, the Gold has been considered as precious as currency. For now, the Bitcoin started to replace the Gold, money and checks. Now, people started to believe the bitcoin has a value as money and they are really trading goods with the bitcoin. The rate of using bitcoin has been rising rapidly in China, Japan, and the states. Also, the value of bitcoin has