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The New Age Currency: Bitcoins

The New Age Currency: Bitcoins. Holiday Coles November 12, 2013. Virtual Currency Started in 2009, Satoshi Nakamoto “Mining” Algorithms and Limited Amounts Created out of thin air -Untraceable -Government can not impose. What is a Bitcoin?. Advantages. Disadvantages.

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The New Age Currency: Bitcoins

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  1. The New Age Currency: Bitcoins Holiday Coles November 12, 2013

  2. Virtual Currency • Started in 2009, Satoshi Nakamoto • “Mining” • Algorithms and Limited Amounts • Created out of thin air • -Untraceable • -Government can not impose What is a Bitcoin?

  3. Advantages Disadvantages Used for Black Markets Needs computer power Volatile Values Anarchist association • Government can’t track • Limited quantity, like Gold Standard • Market Value • More widely accepted Are Bitcoins Worth It?

  4. Recent Exchange Rate $ $ $ $ $ $

  5. Taking ground in China, Russia, Spain • USA as Launching Pad • Full potential/uses unknown Future of Bitcoins

  6. bitcoin.org bitcoin.com Bitcoinfoundation.org en.wikipedia.org/wiki/Bitcoin More Info On Bitcoins

  7. "Bitcoin Charts." - Quandl. N.p., 11 Nov. 2013. Web. 11 Nov. 2013. <http://www.quandl.com/markets/bitcoin>. Bustillos, Maria. "The Bitcoin Boom." The New Yorker. The New Yorker, 02 Apr. 2013. Web. 14 Oct. 2013. <http://www.newyorker.com/online/blogs/ elements/2013/04/the-future-of-bitcoin.html>. Chen, Lulu Y. "Bitcoin Mania Grips China." Businessweek. Bloomberg Businessweek, 05 Sept. 2013. Web. 13 Oct. 2013. <http:// www.businessweek.com/articles/2013-09-05/bitcoin-mania-grips- china>. Ford, Paul. "Bitcoin May Be the Global Economy's Last Safe Haven." Businessweek. Bloomberg Businessweek, 28 Mar. 2013. Web. 13 Oct. 2013. <http://www.businessweek.com/articles/2013-03-28/bitcoin-may- be-the-global-economys-last-safe-haven#p1>. References

  8. France-Presse, Agence. "Federal Reserve Studying Effect of Paypal and Bitcoin on Banking | The Raw Story." Federal Reserve Studying Effect of Paypaland Bitcoin on Banking | The Raw Story. N.p., 03 June 2013. Web. 19 Oct. 2013. <http://www.rawstory.com/rs/ 2013/06/03/federal-reserve-studying-effect-of-paypal-and- bitcoin-on-banking/>. "Germany Declares Bitcoins to Be a Unit of Account." SPIEGEL ONLINE. N.p., 20 Aug. 2013. Web. 17 Oct. 2013. <http:// www.spiegel.de/international/business/germany-declares- bitcoins-to-be-a-unit-of-account-a-917525.html>. Vines, Stephen. "Bitcoin's Teething Troubles Not Unusual." South China Morning Post. N.p., 09 Oct. 2013. Web. 23 Oct. 2013. <http:// www.scmp.com/business/article/1327349/bitcoins-teething- troubles-not-unusual>. References (cont.)

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