The Future of Bitcoin and the Blockchain 1
20.1 Discussion Question
Dr. Luther is skeptical bitcoin will be widely adopted, but he does believe that blockchain technology will gain widespread use. What do you think? Do you think that bitcoin is superior to other currencies? Why or why not?
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39
40 CHAPTER 20. THE FUTURE OF BITCOIN AND THE BLOCKCHAIN
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Chapter 21
Conclusion
1Figure 21.1: "Conclusion" by the Institute for Humane Studies
Description
Dr. William Luther of Kenyon College wraps up this course on bitcoin.
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41
42 INDEX
Index of Keywords and Terms
Keywords are listed by the section with that keyword (page numbers are in parentheses). Keywords do not necessarily appear in the text of the page. They are merely associated with that section. Ex.
apples, 1.1 (1) Terms are referenced by the page they appear on. Ex. apples, 1
A
altcoin, 19(37)B
banking secrecy act, 18(35)bitcoin, 1(1), 2(3), 3(5), 4(7), 5(9),
cryptocurrency, 3(5), 19(37)
E
economics, 1(1), 2(3), 3(5), 4(7), 6(11), 7(13), 8(15), 9(17), 10(19),
11(21), 12(23), 13(25), 16(31), 17(33),
18(35), 19(37), 20(39), 21(41)
F
federal reserve, 13(25) at money, 9(17)nancial crimes enforcement network, 18(35)
I
internal revenue service, 18(35) irs, 18(35)M
medium of exchange, 7(13)monetary demand, 11(21), 17(33) monetary stability, 11(21)
money, 1(1), 2(3), 4(7), 5(9), 6(11),
7(13), 8(15), 9(17), 10(19), 11(21),
12(23), 13(25), 14(27), 15(29), 16(31),
17(33), 18(35), 19(37), 20(39), 21(41) money supply, 11(21), 13(25)
N
network eect, 17(33)P
purchasing power, 12(23)Q
quantitative easing, 13(25)R
regulation, 18(35)S
sec, 18(35)securities exchange commission, 18(35) switching costs, 16(31)
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ATTRIBUTIONS 43
Attributions
Collection: Bitcoin
Edited by: Institute for Humane Studies URL: http://cnx.org/content/col24321/1.1/
License: http://creativecommons.org/licenses/by/4.0/
Module: "Bitcoin: Introduction to Bitcoin"
Used here as: "Introduction to Bitcoin"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66115/1.1/
Page: 1
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Module: "Bitcoin: What Is a Cryptocurrency?"
Used here as: "What Is a Cryptocurrency?"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66143/1.1/
Pages: 3-4
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Module: "Bitcoin: What Is Bitcoin?"
Used here as: "What Is Bitcoin?"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66144/1.1/
Pages: 5-6
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Module: "Bitcoin: How Do You Get Bitcoin?"
Used here as: "How Do You Get Bitcoin?"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66114/1.1/
Pages: 7-8
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Module: "Bitcoin: Making Payments with Bitcoin"
Used here as: "Making Payments with Bitcoin"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66134/1.1/
Pages: 9-10
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Module: "Bitcoin: Processing Payments with Cash, Bitcoin, and Electronic Payments"
Used here as: "Processing Payments with Cash, Bitcoin, and Electronic Payments"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66136/1.1/
Pages: 11-12
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Available for free at Connexions <http://cnx.org/content/col24321/1.1>
44 ATTRIBUTIONS Module: "Bitcoin: Is Bitcoin Money?"
Used here as: "Is Bitcoin Money?"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66150/1.1/
Pages: 13-14
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Module: "Bitcoin: Why Should I Care About Bitcoin?"
Used here as: "Why Should I Care About Bitcoin?"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66149/1.1/
Pages: 15-16
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Module: "Bitcoin: Commodity Money or Fiat Money?"
Used here as: "Commodity Money or Fiat Money?"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66111/1.1/
Pages: 17-18
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Module: "Bitcoin: Why Is Bitcoin Valuable?"
Used here as: "Why Is Bitcoin Valuable?"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66147/1.1/
Pages: 19-20
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Module: "Bitcoin: The Supply of Bitcoin"
Used here as: "The Supply of Bitcoin"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66142/1.1/
Pages: 21-22
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Module: "Bitcoin: Why Does the Value Fluctuate?"
Used here as: "Why Does the Value Fluctuate?"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66146/1.1/
Pages: 23-24
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
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ATTRIBUTIONS 45 Module: "Bitcoin: Central Banking Explained"
Used here as: "Central Banking Explained"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66110/1.1/
Pages: 25-26
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Module: "Bitcoin: Is Bitcoin the Future of Money?"
Used here as: "Is Bitcoin the Future of Money?"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66118/1.1/
Page: 27
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Module: "Bitcoin: Is Bitcoin Better than Other Money?"
Used here as: "Is Bitcoin Better than Other Money?"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66116/1.1/
Pages: 29-30
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Module: "Bitcoin: Switching Costs and Bitcoin"
Used here as: "Switching Costs and Bitcoin"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66138/1.1/
Pages: 31-32
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Module: "Bitcoin: Network Eects and Bitcoin"
Used here as: "Network Eects and Bitcoin"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66135/1.1/
Pages: 33-34
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Module: "Bitcoin: Regulations, Bans, and Bitcoin"
Used here as: "Regulations, Bans, and Bitcoin"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66137/1.1/
Pages: 35-36
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
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46 ATTRIBUTIONS Module: "Bitcoin: Bitcoins vs. Altcoins"
Used here as: "Bitcoins vs. Altcoins"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66107/1.1/
Pages: 37-38
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Module: "Bitcoin: The Future of Bitcoin and the Blockchain"
Used here as: "The Future of Bitcoin and the Blockchain"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66141/1.1/
Page: 39
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Module: "Bitcoin: Conclusion"
Used here as: "Conclusion"
By: Institute for Humane Studies
URL: http://cnx.org/content/m66112/1.1/
Page: 41
Copyright: Institute for Humane Studies
License: http://creativecommons.org/licenses/by/4.0/
Available for free at Connexions <http://cnx.org/content/col24321/1.1>
Bitcoin
What exactly is Bitcoin? And why is it important? In this short online course featuring Dr. William Luther of Kenyon College, you will learn the basics of Bitcoin and some of the more advanced questions surrounding this mysterious currency. Will Bitcoin be the death to national currencies as we know them? What gives Bitcoin its value? And why is the creator of Bitcoin hiding his (her? their?) identity? We might not be able to unmask the founder of Bitcoin, but you will denitely own the conversation at your next social gathering.
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