Bitcoin service discussion in classroom

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What makes currency valuable? Bitcoin service discussion in classrlom this lesson, students explore the fundamental characteristics of currency by reading and researching about the bitcoin, the experimental and upstart digital commodity that has grabbed the attention of speculators, bitcoin service discussion in classroom, bankers and regulators around the world. Materials Computers with Internet access Warm-Up Ask students to watch the above video about the bitcoin asking the question: What makes money — money?

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Then have students discuss the video, and their understanding of how money works. If you have additional time, students can work in small groups to invent a new currency. What would your currency look like?


Bitcoin service discussion in classroom

How would they acquire it? What would they use it for? And how might it gain, or lose, value?

Bitcoin service discussion in classroom

Then groups can share before the class reads the related article. Bitcoin is built on a weird mix of the most old-fashioned kind of speculative greed, bitcoin service discussion in classroom by a contemporary utopian cyberlibertarian ideology. Boosters say that the bitcoin is the currency of the future. Each bitcoin is just bitcoin service discussion in classroom string of numbers. Instead of a bank, a decentralized network of computers ensures the authenticity of the bitcoin and issues new ones by doing complex calculations.

This allows the bitcoin to be traded peer to peer, bypassing credit card companies and payment processors. Background Vocabulary Read the entire article with your class, then answer the questions below.

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Questions For discussion and reading comprehension: Ciscussion is the bitcoin, and who created it? How did the author come to learn about the bitcoin? How much has the value of a bitcoin changed since the author first learned of the currency? According to the author, who uses the bitcoin? What are some of the reasons people would want to buy bitcoins? Does the author believe the bitcoin has a viable future?

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Why or why not? What do you think will happen with the bitcoin going forward?


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Once the transaction is confirmed it is placed on the chain referencing the transaction block that immediately precedes it. This means they could orchestrate double spends and other malicious network activities. The Bitcoin proof-of-work mechanism serves to control the speed in which transactions can be added to the network, the effort required to add items and the generation of new currencies. The cost of having the right hardware and electricity sometimes outweighs the value of coins won, particularly when bitcoin rewards continue to drop as scheduled. How much has the value of a bitcoin changed since the author first learned of bitcoin service discussion in classroom currency? The margins that many Bitcoin mining operations run on are very thin.

Will it be successful as a new currency? Then have groups of students choose some of the following aspects of the bitcoin to research and present on.


Bitcoin service discussion in classroom

How is the bitcoin being used as a currency, and by whom? One function of currency is to facilitate the exchange of goods and services.

However, on the other hand, the use of private and permissioned blockchains bitcoin service discussion in classroom the other participants are reputable financial services firms with the same regulatory obligations means serviec there is already an inherent level of trust and significantly reduced risk of a malicious attack from a participant in the network. For financial services, this becomes an even greater concern when high frequency, high value transactions and exchange of assets could be executed on blockchain based solutions. To get content containing both thought and leadership enter: By service discussion your social media traffic to your website, Scoop. Learn more How do I follow my topics' performance? What makes currency valuable? This is not the place to promote your business.

In order for that to occur, people must be willing to accept the currency for those goods and services. So, who accepts the bitcoin as payment? And who is buying the bitcoin? Read this article about how the bitcoin is catching on with speculators in China, and see a real-time map of how bitcoins are circulating around there world.

  • How much has the value of a bitcoin changed since the author first learned of the currency?
  • How much has the value of a bitcoin changed since the author first learned of the currency?
  • It is clear that there are practical limitations concerning both the speed and finality of settlements.

What value does the bitcoin have, and where does it get its value?

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3 Comments
  1. Bitcoin service discussion in classroom
    Faecage 08.06.2017 in 23:40

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  1. Bitcoin service discussion in classroom
    Gagami 12.06.2017 in 18:34

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  1. Bitcoin service discussion in classroom
    Malagrel 16.06.2017 in 01:59

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