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Current Events

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Running head: CURRENT EVENTS
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CURRENT EVENTS 2
EVENT 1
Bitcoin is a current cryptocurrency that is neither controlled by a central bank nor an
administrator. The value of one bitcoin was roughly $800 at the beginning of the year but one
bitcoin is currently valued at $14,000. This shift has attracted a lot of attention with many people
digging for bitcoins. Bitcoin is a digital currency that uses the internet and uses cryptography to
confirm transactions (Kharif, 2017). The ability of the users to be anonymous makes buyers
more willing to use bitcoin as a transaction means. The users are however assigned an address
which can be used to call the sellers and acquire information regarding the trade. This ensures
that the transactions are legit which increases the credibility of the bitcoin. Heavy concerns have
however been expressed by the investors regarding the bitcoin whales who have the ability to
send the value of the bitcoin plummeting by selling some of their holdings. With almost half of
the bitcoins owned by a few people in the world, there is the fear that these people can make
certain moves to shift the market in their favor. The lack of securities offered by the digital
currency offers the possibility of certain groups banding together to buy enough bitcoins to tip
the market then cash out (Kharif, 2017). Investors and other bitcoin owners can only hope that
the bitcoin whales do not engage in such activities as it will cause the collapse of the digital
currency.
The rise in the value of bitcoin has sparked a lot of interest in the business community.
The emergence of bitcoin dealers and more investors preferring to deal in bitcoins might see the
shift from physical paper to digital currency. The bitcoin dealers and investors believe that
bitcoins will soon replace banks and paper money as more people shift to transacting using
bitcoins meaning that all transactions will end up being conducted digitally. This raises the
concern over the influence that the whales have regarding the value of the bitcoin as they have

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Running head: CURRENT EVENTS Student’s Name Professor’s Name Course Title Date CURRENT EVENTS 2 EVENT 1 Bitcoin is a current cryptocurrency that is neither controlled by a central bank nor an administrator. The value of one bitcoin was roughly $800 at the beginning of the year but one bitcoin is currently valued at $14,000. This shift has attracted a lot of attention with many people digging for bitcoins. Bitcoin is a digital currency that uses the internet and uses cryptography to confirm transactions (Kharif, 2017). The ability of the users to be anonymous makes buyers more willing to use bitcoin as a transaction means. The users are however assigned an address which can be used to call the sellers and acquire information regarding the trade. This ensures that the transactions are legit which increases the credibility of the bitcoin. Heavy concerns have however been expressed by the investors regarding the bitcoin whales who have the ability to send the value of the bitcoin plummeting by selling some of their holdings. With almost half of the bitcoins owned by a few people in the world, there is the fear that these people can make certain moves to shift the market in their favor. The lack of securities offered by the digital currency offers the possibility of certain groups banding together to buy enough bitcoins to tip the market then cash out (Kharif, 2017). Investors and other bitcoin owners can only hope that the bitcoin whales do not engage in such activities ...
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