Discussion and 2 replies

 

As new trends in the world of finance, blockchain and cryptocurrency  hold immense promise for bringing prosperity into our world. The concept  of a truly shared and democratic economy is at the core of the  blockchain initiative.

In your initial post, address the following:

  • Discuss your experience with cryptocurrencies. 
    • Have you used Bitcoin, Dogecoin, Ripple, Tether, Litecoin, Ethereum,  or other cryptocurrencies? If so, explain why you chose to use one of  these systems and describe your experience.
    • If you have not used cryptocurrencies, discuss your opinion about  using them. Would you be interested in using or investing in  cryptocurrency? Explain why or why not.

In your response posts to at least two peers, discuss the following:

  • Explain whether or not you share a similar experience or point of view as your peers and why.
  • How do you think blockchain technology and cryptocurrency might affect the economy in the future?

Post by corey

  

Hello class,

I have never had experience with cryptocurrency. Meaning I have never  used any of the systems. I tend to lean towards using a barter system. I  have invested in Bitcoin (less than $100.00) and honestly have mixed  feelings about the systems. I understand that it could be beneficial for  the global market and stream line some trade arrangements if you did  not have to worries about conversions. I am concerned about the economic  impact especially for countries that are on the extremes. For some it  would be greatly beneficial and help. The less developed countries will  be able to rapidly modernize. this will have an opposite effect on  prosperous countries.   The other concern I have is the ease at which it  could be hacked. which leads me to my biggest concern which is. Digital  currency is not secured against anything i.e. a countries stock pile of  gold and silver.

Post by Brooke

 

Hi class, I have not used cryptocurrencies. My husband is very  interested in them and wants to invest, but I have been very hesitant. I  still prefer to use cash then debit cards and felt that it is a huge  jump to have money that is internet based. We have several friends that  have invested, in Bitcoin originally and have branched out, and have  done very well. In Don Tapscott’s Ted talk he addresses one of the big  concerns of hackability and it has put me at ease with the blockchain  technology. I believe that I have a lot more research to do before I say  I’m ready to invest.

References

Tapscott, Don. (June 2016). Don Tapscott: How the blockchain is changing money and technology. Retrieved on June 23, 2021, from

blockchain_is_changing_money_and_business/transcript?language=en

   

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