INDIVIDUALS AND SOCIETIES Cryptocurrencies 1.How has cryptocurrency influenced our world for the past two years? Sub-questions: ● What are cryptocurrencies? ● Why do we need them? ● Who owns them ? ● What do cryptocurrencies stand for? ● When was the first cryptocurrency invented? Article/Source/ Citation Main idea(s) “Quote” or Relevance Search Date Data *,**,*** Tool Found Most *** google 07.09.2021 Cryptocurrencies are https://www.investoped cryptocurrencies digital or virtual ia.com/terms/c/cryptoc are decentralized. currencies . That urrency.asp means that crypto is For example fiat actually digital and currencies are there is no paper to centralized and represent it as. Or have a certain some coins that fulcrum center. represent it actually For fiat currencies it's just a coin that there are banks or costs nothing the governments but actual bitcoin is Cryptocurrencies digital. don't have fulcrum centers . Cryptocurrencies are https://www.forbes.com not similar to any /advisor/investing/what other currencies -is-cryptocurrency/ like; dollar,euro and etc cause its decentralized and no one decides its price this is the main difference of crypto Cryptocurrencies ** are digital,encrypted and decentralized. Which makes them the perfect version of all other currencies around the world. google 08.09.2021 INDIVIDUALS AND SOCIETIES currencies from traditional currencies https://dataoverhaulers. Cryptocurrencies com/purpose-point-of-c don't have one ryptocurrency/ shareholder or one owner. Everyone who has access to the internet can buy them. They are available and no one except the holder has access to them; this is the main advantage of crypto . https://en.wikipedia.org Most /wiki/Cryptocurrency cryptocurrencies are based on blockchain technology. Blockchain is a technology or system that records all data or information which makes it unique which is impossible to hack. The main difference between traditional currency and crypto currencies that no one regulates the price of cryptocurrencies, but government or Banks regulates the price of traditional currencies Bitcoin, the first https://en.wikipedia.org decentralized /wiki/Cryptocurrency cryptocurrency, was invented in 2009 by Satoshi Nakamato. https://gadgets.ndtv.co m/cryptocurrency/featu res/cryptocurrency-pric e-value-market-volatilit y-factors-investment-p ublic-ledger-node-coun t-eange-wallets-250093 8 The main goal of * cryptocurrencies is to be better than traditional currencies.There are many advantages that make them better than traditional currencies . google 08.09.2021 Government or *** Banks don't have access to cryptocurrencies. Because of that many banks and governments are against it . google 09.092021 Cryptocurrency prices mostly depend on the demand for them. google 09.09.2021 Which means if there are many people who want to buy the price is most likely to increase. In 2009, the first decentralized cryptocurrency, bitcoin, was created by presumably pseudonymous developer El Salvador was *** INDIVIDUALS AND SOCIETIES https://www.marketwat ch.com/story/who-own s-bitcoin-roughly-80-ar e-held-by-long-term-in vestors-report-1161299 8740 the first country to accept Bitcoin as legal tender Approximately, 56% of bitcoins 18.625 million are owned by bitcoins have investors, 18% been created, are lost, 15% are held by so-called or digitally mined in the traders and the parlance of remainder has cryptocurrency yet to be mined enthusiasts, according to CoinMarketCap .com, but a good chunk of that has been lost https://www.nerdwallet. There are many com/article/investing/cr coins traded publicly yptocurrency-7-things-t o-know#2.-how-manycryptocurrencies-are-th ere-what-are-they-wort h More than 10,000 different cryptocurrencies are traded publicly, according to CoinMarketCap. com, a market research website. And cryptocurrencies continue to proliferate, raising money through initial coin offerings, or ICOs. The total value of all cryptocurrencies on Aug. 18, 2021, was more than $1.9 trillion — down from April high of $2.2 trillion, according to CoinMarketCap. The total value of all bitcoins, INDIVIDUALS AND SOCIETIES the most popular digital currency, was pegged at about $849 billion, regaining some ground from recent price lows. Still, the market value of bitcoin is down from April's high of $1.2 trillion.
