Question

Bitcoin- Is it the new world currency?

Write an essay in about 250-300 words

I need legit answers ASAP

Answer 1

Answer:

Bitcoin has been criticized for its use in illegal transactions, the large amount of electricity (and thus carbon footprint) used by mining, price volatility, and thefts from exchanges. Some economists and commentators have characterized it as a speculative bubble at various times. Bitcoin has also been used as an investment, although several regulatory agencies have issued investor alerts about bitcoin.[11][13][14]

The word bitcoin was defined in a white paper published on 31 October 2008.[4][15] It is a compound of the words bit and coin.[16] No uniform convention for bitcoin capitalization exists; some sources use Bitcoin, capitalized, to refer to the technology and network and bitcoin, lowercase, for the unit of account.[17] The Wall Street Journal,[18] The Chronicle of Higher Education,[19] and the Oxford English Dictionary[16] advocate the use of lowercase bitcoin in all cases.