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Could Bitcoins Be The Answer To The American Dream

757 Words4 Pages

Chastity Ross
Professor Melissa Bryant
Introduction to Computers 110-104
October 26, 2017
Could Bitcoins be The Answer to The American Dream? Sitting at my desk, in the very back row in my humanities class, my professor from Singapore, played a Ted Talks video for the class. The video was of Paul Kemp-Robertson, giving an intriguing speech about bitcoins (Ruther). After the first several minutes into observing the video, I perceived bitcoins to be related to gaming. Little did I know, it was invented to be used in real life. Bitcoins was founded in 2009, by an anonymous programmer, who used a fictitious name called Satoshi Nakamoto. Bitcoins is a crypt-currency which uses cryptography to secure transactions between peers. Merchants such …show more content…

People were able to purchase many bitcoins for one U.S dollar. As of today, the value of bitcoins has skyrocketed. If you do a google search, you will see plenty of currency converters and charts showing its value. According to Coindesk.com, it is showing that a single bitcoin is worth approximately five thousand U.S. dollars. It appears to be a very attractive investment. If the value continues to inflate, can this be the next new currency to replace U.S. dollars? Would new investors be able to get in on the piece of pie and become rich? Could this bring us just a step closer towards living the American …show more content…

Therefore, it may be wise to educate oneself of the ascending and descending trends of bitcoins to prevent asset loss. Personally, I am still a novice when it comes to computer technology. Nonetheless, it will not halt my interest in following bitcoin news. I strongly believe that bitcoins in itself, is not guilty of any crimes. As with U.S dollars, it is the people who commit the misuse, by taking it upon themselves to engage in criminal activities. Judging from past illegal activities that arose from the use of bitcoins, some governmental monitoring may be beneficial. It can ensure the safety of investors and consumers alike. Last but not least, it provides some level of security for skeptics with the knowledge that the government has some authority in the bitcoin

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