This class as a whole seems like an interesting way to learn more about a specific topic, while introducing the fundamentals of research. For this semester I’ve chosen to research Cryptocurrency and its impact both ethically and generally on the modern world. I personally would like to stay away from specific coins and their viability as an asset in the current economy. Instead, I want to focus in on the general concepts behind them and the viability of their implementation in current society.
I look forward to being able to learn more about Crypto and developing a deeper understanding of its potential impacts.
Hi Matthew! I’ve tried cryptocurrency and I just could not understand how it works. When signing up for it, I couldn’t figure out how it would mean money in my pocket. There were so many types, I didn’t know which one to pick. I like this topic because I think more people could benefit from extensive research on crypto helping people like me try to understand how it benefits me in the long run.
Hey Natasha. One of the most important parts about anything when trying to be available to a mainstream audience is accessibility. This is a major barrier to entry for all cryptos. Hopefully, for this semester I can help bridge that gap or find the correct avenues to lead those that are interested to the right path.
Could be interesting to see how folks interact with that medium of currency.
Good choice for researching. Investing in Cryptocurrency is smart. An alternative that’s a bit safer but less rewarding is buying the stocks of firms exposed to cryptocurrencies. Cryptocurrencies like Ethereum and Bitcoin are intended to reach long-term goals. While it’s impossible to be certain of the success of any cryptocurrency project if a cryptocurrency project accomplishes its aims, investors might reap considerable rewards in the long run (Levy, 2021). For any cryptocurrency to have long-term viability, mass acceptance is a need. The longevity of Cryptocurrency overall is limited to the number of units or quantities available. For instance, the number of bitcoins mined may be 21 million (Hayes, 2021).
When this amount of bitcoins has been discovered, the supply will be depleted. The Bitcoin protocol may be altered to allow for a more excellent collection, though. What will occur when the whole amount of bitcoin in the world is eventually attained? The exact nature of cryptocurrencies is debated heavily among crypto enthusiasts. Right now, around 18.5 million bitcoins have been mined (Hayes, 2021). Only approximately three million of the total twelve million is still waiting to be brought into use.
References: Hayes, A. 2021. What Happens to Bitcoin After All 21 Million Are Mined? https://www.investopedia.com/tech/what-happens-bitcoin-after-21-million-mined/ Levy, A. 2021 Is Cryptocurrency a Good Investment https://www.fool.com/investing/stock-market/market-sectors/financials/blockchain-stocks/is-cryptocurrency-good-investment/
I’d have to say that picking cryptocurrency is brave. I’m in the same boat as Natasha, I could never wrap my head around crypto! I’m excited to see more of your posts that explain more 🙂