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Chapter 11 Discussion Post - Bitcoin
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Discussion Replies on Bitcoin
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Discussion Replies on Bitcoin
Reply to Giuliana Busacco
Indeed, bitcoin is a digital currency that is traded virtually and with no central governing
authority. According to Washington Post (2014), the currency creates anonymity for traders and
as a result, inhibits the traceability of transactions. As a result, I agree the currency’s
sustainability is dented by its ability to support illegal activities that include money laundering
and illegal purchases (Schneider, 2017, Ch. 11). Similarly, I agree that the use of digital
currencies has disempowered governments and consequently empowered people to own their
currencies. Despite the currency’s volatility and doubt over its long-term sustainability, the
currency is thought to counter deflation and consequently become a global reserve standar...
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