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.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

100%

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.
O 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.

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