UNT Use of Bitcoins as A Standard Form of Currency Essay

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fennnina

Computer Science

Description

search the Internet and explain why some organizations are accepting and other organizations are rejecting the use of Bitcoins as a standard form of currency.  Your paper needs to identify two major companies that have adopted Bitcoin technology as well as one that has refused accepting Bitcoin as a form of currency. Be sure to discuss each organization, how they adopted (or why they won't adopt) Bitcoin, and what recommendations you have for them to continue to support Bitcoin (or why they should support Bitcoin).


Explanation & Answer:
6 Pages
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Explanation & Answer

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Bitcoin Currency

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Bitcoin Currency
Bitcoin currency refers electronic payment system grounded on cryptography and is
distributed from peer to peer. Following pros and cons, the bitcoin economy has grown to
some levels and sometimes failed. A class of some organization has accepted bitcoin
currency as an option for payment while others have rejected due to various reasons.
Reasons for Accepting Bitcoin Currency
Diversification of assets is greatly contributing to the business as an evolving
world. Monitory diversification in an organization is currently involving the type of
currency that one can use either as an investment or payment class that maintains value.
Some organizations are accepting bitcoins as a form of payment since there is a high
realization of profit once the value of bitcoin raises during an investment period
(Härting&Reichstein, 2020). Investment of money in form of bitcoin is also exempting
these organizations from paying taxes unless the bitcoin is converted to fiat currency.
Bitcoin's feature of limited capacity makes it a nice hedge in fighting monitory
inflation dissimilar to the government-issued currency that loses value sometimes as much
is printed (Härting&Reichstein, 2020). Current generations are more diverse and accepting,
unlike old generations who were reluctant to new ideas. The need of the millennial
generation to explore in the online business world fo...


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