Functions of money served by the Bitcoin

Economics of Bitcoin

Bitcoin is a new currency that some people are trying to invent, and it is not tied to any country or government (NPR, 2011). Bitcoin is a lot like cash but for the online universe as it does not exist in the physical world; bitcoin cannot be held in our hands but rather is held by our computer. The comic of bitcoin is that its information is not stored somewhere, but rather information is run and stored only by the people who use it.

Money is any good that is acceptable and can be used to purchase goods and services as well as pay debts. Money serves different functions among them being money is a medium of exchange, a measure of value, a store of value, the basis of credit, a unit of account, and lastly a standard of postponed payment (Suman, n.d). Money replaced barter trade whereby people used to exchange goods for goods or services, which made it difficult for people because a person may end up exchanging their goods with something they did not require. Money is the medium of exchange as goods and services are exchanged at a cost that is paid in the form of money. Money is also a measure of value as it helps in giving things value, thus enabling people to compare distinct prices as well as see the relative value of distinct commodities. (Suman, n.d). Money is also a store of value as it does not lose its value. When it comes to credits, money facilitates loans as borrowers can obtain goods and services at credit.

Don't use plagiarized sources. Get Your Custom Essay on
Functions of money served by the Bitcoin
Just from $9/Page
Order Essay

The Federal Reserve System is among the most controlling financial institutions in the world; Fed was founded by US Congress in 1913 with the aim of providing the country with a safe, flexible, stable financial system (Amadeo, 2019). The main objective of Federal Reserve is to promote a strong US economy this is achieved as the congress directs the Federal Reserve to conduct the nation’s monetary strategy to maintain stable prices, sustainable employment, and reasonable long-term rates. Secondly, the Federal Reserve seeks at achieving its monetary strategy mandate by influencing interest rates and general economic conditions. According to Hall (2019), Federal Reserve applies its tools to manage the supply of money so as to help in stabilizing the US economy; when the economy seems to be slumping Federal Reserve reduces the risk by shrinking the supply.

functions of money served by the Bitcoin

When it comes to functions of money served by the Bitcoin, they include a store of value as well as a medium of exchange. According to Ajiboye (2019), Bitcoin functions as money as it is a medium of exchange; bitcoin can be transferred to other people or businesses and even international transactions.  Bitcoin also happens to have value; although its value is unpredictable due to lack of stability sometime when its value is high, it can be beneficial to its holders.

Individually I prefer US dollars to Bitcoin, this I because bitcoin happens to be associated with many risks, unlike the US dollars. One risk that is associated with bitcoin and why I cannot use it is because bitcoin transactions are irreversible; this means that a single mistake in the transfer and then the bitcoin are gone as they cannot be reversed. Additionally, bitcoin has unstable values; this makes it difficult to rely on them. Lack of acceptance is another risk associated with bitcoin; bitcoin does not belong to any country or government, this makes its acceptance limited hence risking its users as they may end up lacking a place to do their transactions.

Bitcoin cannot be useful to an economy such as the US economy this is because the first bitcoin cannot be used to buy things such as pay for bills or even purchase utensils (Krugman, 2013). Every citizen has the right to own currency that can be used to purchase goods and services at any time and anywhere, bitcoin cannot serve this purpose hence why it cannot be useful to the US economy (Zahid, 201).  Additionally, bitcoin cannot be useful to the US economy; just because something is called a currency that does not mean it is a currency as a currency has to be stable and have value that people can use to buy things with, bitcoin lacks stability and value hence why it cannot be useful to the US economy.

From what I have learned in class I fell more knowledgeable as I can know that not everything we call currency is currency as the currency has value as well as be able to be used to buy things without any limitations. I feel so knowledgeable and full of wisdom as I can understand the vast functions of money. This learning is applicable in my life because not everything that I come across being referred to as currency I should accept that it is currency, but rather I should do my own research to approve if its currency or not as I understand the difference between currency and non-currency.

References

Amadeo, K. (2019). How Does the Fed Raise or Lower Interest Rates? Accessed on 17 February 2020, from https://www.thebalance.com/how-does-the-fed-raise-or-lower-interest-rates-3306127

Suman, S. (n.d). Top 6 Functions of Money-Discussed. Accessed on 17 February 2020, from https://www.economicsdiscussion.net/money/functions-money/top-6-functions-of-money-discussed/12710\

Hall, M. (2019). How the Federal Reserve Manages Money Supply. Accessed on 17 February 2020, from com/articles/08/fight-recession.asp”>https://www.investopedia.com/articles/08/fight-recession.asp

Zahid, M. (2014). Bitcoin’s: Mining, Transaction, Security Challenges and Future of This Currency. Universal Publishers.

Ajiboye et al. (2019). The Little Bitcoin Book: Why Bitcoin Matters for Your Freedom, Finances, and Future. Amazon Digital Services LLC.

Krugman, P. (2013). Bitcoin is Evil. Retrieved on 17 February 2020, from https://krugman.blogs.nytimes.com/2013/12/28/bitcoin-is-evil/?_r=0

NPR (2011). What Is Bitcoin? Accessed on 17 February 2020, from https://www.npr.org/sections/money/2011/08/24/138673630/what-is-bitcoin

Get professional assignment help cheaply

Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?

Whichever your reason may is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.

Our essay writers are graduates with diplomas, bachelor, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college diploma. When assigning your order, we match the paper subject with the area of specialization of the writer.

Why choose our academic writing service?

  • Plagiarism free papers
  • Timely delivery
  • Any deadline
  • Skilled, Experienced Native English Writers
  • Subject-relevant academic writer
  • Adherence to paper instructions
  • Ability to tackle bulk assignments
  • Reasonable prices
  • 24/7 Customer Support
  • Get superb grades consistently

 

 

 

 


Get Professional Assignment Help Cheaply

Buy Custom Essay

Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?

Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.

Why Choose Our Academic Writing Service?

  • Plagiarism free papers
  • Timely delivery
  • Any deadline
  • Skilled, Experienced Native English Writers
  • Subject-relevant academic writer
  • Adherence to paper instructions
  • Ability to tackle bulk assignments
  • Reasonable prices
  • 24/7 Customer Support
  • Get superb grades consistently
 

Online Academic Help With Different Subjects

Literature

Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.

Finance

Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.

Computer science

Computer science is a tough subject. Fortunately, our computer science experts are up to the match. No need to stress and have sleepless nights. Our academic writers will tackle all your computer science assignments and deliver them on time. Let us handle all your python, java, ruby, JavaScript, php , C+ assignments!

Psychology

While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.

Engineering

Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.

Nursing

In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.

Sociology

Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.

Business

We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!

Statistics

We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.

Law

Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.

What discipline/subjects do you deal in?

We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.

Are your writers competent enough to handle my paper?

Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.

What if I don’t like the paper?

There is a very low likelihood that you won’t like the paper.

Reasons being:

  • When assigning your order, we match the paper’s discipline with the writer’s field/specialization. Since all our writers are graduates, we match the paper’s subject with the field the writer studied. For instance, if it’s a nursing paper, only a nursing graduate and writer will handle it. Furthermore, all our writers have academic writing experience and top-notch research skills.
  • We have a quality assurance that reviews the paper before it gets to you. As such, we ensure that you get a paper that meets the required standard and will most definitely make the grade.

In the event that you don’t like your paper:

  • The writer will revise the paper up to your pleasing. You have unlimited revisions. You simply need to highlight what specifically you don’t like about the paper, and the writer will make the amendments. The paper will be revised until you are satisfied. Revisions are free of charge
  • We will have a different writer write the paper from scratch.
  • Last resort, if the above does not work, we will refund your money.

Will the professor find out I didn’t write the paper myself?

Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.

What if the paper is plagiarized?

We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.

When will I get my paper?

You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.

Will anyone find out that I used your services?

We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.

How our Assignment  Help Service Works

1.      Place an order

You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.

2.      Pay for the order

Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.

3.      Track the progress

You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.

4.      Download the paper

The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.

smile and order essaysmile and order essay PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!

order custom essay paper