Which of the following is true? Bitcoin is backed by gold and governments, and seemingly appeared "out of thin air" as the result of mathematics performed by so-called "miners" Civil libertarianslzenerally dislike the fact that bitcoin transactions can happen without revealing the sorts of personal data that credit card companies and other financial institutions gather. Bitcoin is an open source, centralized payment system that operates in a peer- to-peer environment without bank or central authority. Bitcoin could lower transactions costs, and it could create an opportunity for the digital purchase of goods with small value, and it could open markets where card access is limited.

Which of the following is true? Bitcoin is backed by gold and governments, and seemingly appeared "out of thin air" as the result of mathematics performed by so-called "miners" Civil libertarianslzenerally dislike the fact that bitcoin transactions can happen without revealing the sorts of personal data that credit card companies and other financial institutions gather. Bitcoin is an open source, centralized payment system that operates in a peer- to-peer environment without bank or central authority. Bitcoin could lower transactions costs, and it could create an opportunity for the digital purchase of goods with small value, and it could open markets where card access is limited.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter21: The Monetary System

Section: Chapter Questions

Problem 3PA

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