signment: Cryptocurrencies are something that have been discussed in great detai
ID: 1732943 • Letter: S
Question
signment: Cryptocurrencies are something that have been discussed in great detail over the past 3 be at years. Please explain your perspective on the following bullets. The assignment is expected to least 3 pages' double spaced and submitted before the week of final exams this semester Would you invest in cryptocurrencies? If Yes, Why? If No, Why? What major impact do you see cryptocurrencies having in the world of business and trade over the next 5 years? What changes do you see happening to traditional commerce and methods of payment (Cash Credit Card, PayPal, Barter etc.) as a result of cryptocurrencies. If you were approached in a business transaction with a buyer that was willing to pay you in Bitcoin, would you accept the payment? If Yes, why and if no why? What impact do you see Bitcoin and other cryptocurrencies having on the way people view saving money in the future? Do you see the value of cryptocurrencies stabilizing in the future and do you see them as a long term and predictable way of doing trade and commerce? . e e . . .Explanation / Answer
ANSWER:
Q.1 If we consider the current situation we can see a lot of who became wealthy by invest in cryptocurrencies but I believe If they present good returns, there is huge risk and instability in them. There are no regulations, no data obtainable to analyse their performance. So it can be said that its a pure gamble plus lot of insecurities are emotionally concerned to them. So one should not spend in them at present. There are number of risks linked to them which makes them an unpreferred benefit option.
The reason is attractive clear that there is doubt and no one can forecast whether there will be a growth within the savings or they will fall downward to zero.
Q.2 As the era of cryptocurrencies is rising and populace are receiving paying attention towards them. So we can expect a huge rotate in the commerce and trade. If the drwbacks are work upon, the cryptocurrencies may be the next global improvement in the meadow of currencies. They may be
This may be a improvement in the field of import and exports and they may put back the traditional currency which we are by right now. But only if they are improved plus given receipt all over the world. The deal would be very convenient by means of cryptocurrencies and it would be radical for sure. So the consequences would be higher volumes and senior swelling of economies.
Q.3 As per now present are not so many country which have accepted cryptocurrencies as a medium of exchange. So many countries of the earth are still by the old medium of payment. The only alter which is very much able to be seen is populace have started invest in cryptocurrencies intended for a growth in their money. But the cryptocurrencies are not ruling the markets of these countries. But it may replace the old medium in prospect.
Q.4 No I would not take the sum in Bitcoin because its too dangerous to receive expenditure in Bitcoin. There is no security that it would remain at its present price on tommorrow as well. One may misplace all his money by in receipt of Bitcoins. The sentiment are adaptable the prices of Bitcoins. So its not safe to take delivery of the payments in Bitcoins.
Q.5 The Bitcoins may be the after that most preferred tool to save because of the expediency to buy it. Eg if one has a money which is increasing in value mechanically so why to ask a bank of stock marketplace for saving. So there would be very less harass if one wish to save. But the only risk is volatility. Once the improvement are done. It may be the most preffered tool to pay money for for saving.
Q.6 Yes if they are regulated through some central organisation, there may absolutely the stabilization in prices of cryptocurrencies. And the security issue related in the direction of them be supposed in the direction of also be determined. Then there will definitely exist an era of deal and trade in cryptocurrencies and populace will prefer it as a unsurprising way of doing deal and commerce
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