...bitcoin adoption has been influenced by a diverse range of factors that have made it one of the most volatile currencies in the world. Yet, despite such volatility, more than 100,000 bitcoin transactions are taking place per day and the volume continues to grow due to the ‘permission less innovation’ provided by bitcoin’s underlying technology, the blockchain. A block chain or blockchain is a permissionless distributed database based on the bitcoin protocol that maintains a continuously growing list of transactional data records hardened against tampering and revision, even by operators of the data store's nodes. As the blockchain matures, bitcoin will increasingly resemble traditional financial services, with functions such as retail banking (circles) exchanges (coinbase) and payment processors (bitnet) are being created. But how did it all start off, and where will it go next? Here, we take a brief overview of the major milestones in the cryptocurrency’s brief history and look to where it might be headed in the future. Bitcoin was invented by Satoshi Nakamoto,]who published the invention on 31 October 2008 in a research paper called "Bitcoin: A Peer-to-Peer Electronic Cash System". It was implemented as open source code and released in January 2009. Bitcoin is often called the first cryptocurrency although prior systems existed. Bitcoin is more correctly described as the first decentralized digital currency. 2008 Three individuals, Neal Kin, Vladimir Oksman, and Charles...
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...Bitcoin: Safe For All Users? Abstract Bitcoin is a decentralized digital currency that has been rising in popularity since 2009. It was created by a programmer with the pseudonym Satoshi Nakamoto. It is a peer-to-peer currency that allows individuals to transact without the involvement of an institution, in most cases the central bank. It uses cryptography to verify transactions and also governs the production of the currency itself. The users are kept anonymous as there is no need for personal information, only the two keys are needed (Public key and Private Key) for transactions. Transactions are kept in an online public ledger (Blockchain) which is available for everyone to see as long as they are on the Bitcoin network. The transactions...
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...loved; so, I was able to simply formulate in depth explanations. Although these strengths were a major asset to my essay, I have some weaknesses that affected my essay in a negative way. My major weakness is that I usually write how I talk. I began writing with no clear thoughts which consisted of sticking a lot of unnecessary words and using poor vocabulary while trying to put my thoughts on paper. Another thing that I had a major problem with was trying to make all my thoughts come together. In previous English classes, I was always taught to make an outline or get a rough idea of what I was writing about and then start writing it; however, for this essay it was completely different. Usually I would start writing an essay from beginning to end. I have never written an essay in this order, and it was a new way of thinking that I was not accustomed to. This caused me the most problems because I had limited time to adjust to this writing style. Writing it out of order caused me many more complications than I would normally have; therefore, it took me longer than expected to get my words down on paper and make them all flow. Because these weaknesses hurt my essay, it reinforced my decision that if I had...
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...DADOS DE COPYRIGHT Sobre a obra: A presente obra é disponibilizada pela equipe Le Livros e seus diversos parceiros, com o objetivo de oferecer conteúdo para uso parcial em pesquisas e estudos acadêmicos, bem como o simples teste da qualidade da obra, com o fim exclusivo de compra futura. É expressamente proibida e totalmente repudíavel a venda, aluguel, ou quaisquer uso comercial do presente conteúdo Sobre nós: O Le Livros e seus parceiros disponibilizam conteúdo de dominio publico e propriedade intelectual de forma totalmente gratuita, por acreditar que o conhecimento e a educação devem ser acessíveis e livres a toda e qualquer pessoa. Você pode encontrar mais obras em nosso site: LeLivros.us ou em qualquer um dos sites parceiros apresentados neste link. "Quando o mundo estiver unido na busca do conhecimento, e não mais lutando por dinheiro e poder, então nossa sociedade poderá enfim evoluir a um novo nível." Fernando Ulrich BITCOIN A MOEDA NA ERA DIGITAL 1ª Edição Mises Brasil 2014 Copyright © Creative Commons Título BITCOIN - A MOEDA NA ERA DIGITAL Autor Fernando Ulrich Esta obra foi editada por: Instituto Ludwig Von Mises Brasil Rua Iguatemi, 448, conj. 405 – Itaim Bibi São Paulo – SP Tel: (11) 3704-3782 Impresso no Brasil / Printed in Brazil ISBN: 978-85-8119-078-5 1ª Edição Revisão Leandro Augusto Gomes Roque Fernando Fiori Chiocca Revisão Final Alexandre Guaspari Barreto Capa Neuen Design Projeto gráfico Estúdio Zebra Ficha...
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...services delivered but by who delivers them. This latest evolution of FinTech, led by start-ups, poses challenges for regulators and market participants alike, particularly in balancing the potential benefits of innovation with the possible risks of new approaches. * Professor, Co-Director, Duke-HKU Asia America Institute in Transnational Law, and Member, Board of Management, Asian Institute of International Financial Law, Faculty of Law, University of Hong Kong. ** Senior Research Fellow, Asian Institute of International Financial Law, Faculty of Law, University of Hong Kong; and Founder, FinTech HK. *** CIFR King & Wood Mallesons Chair of International Financial Law, Scientia Professor, and Member, Centre for Law, Markets & Regulation, UNSW Australia. The authors gratefully acknowledge the financial support of the the Hong Kong Research Grants Council Theme-based Research Scheme (Enhancing Hong Kong’s Future as a Leading International Financial Centre) and the Australian Research Council Linkage...
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...WORLD OF BITCOINS ¬¬¬ CONTENTS Page(s) 1. Introduction 3 2. Features of Bitcoin 4-9 3. Bitcoin Mining 10-11 4. Legality of Bitcoins in different countries 12-13 5. Pros and Cons of Recent Developments of Bitcoin 14-15 6. Legal Aspects of Bitcoin in India 16-19 7. Conclusion 20 8. References 21-23 INTRODUCTION We live in a world where transactions are made by traditional methods using separate currencies. This system has been implemented since the dawn of time. But for a more modern approach, a new form of currency called as crypto currency have been introduced by various organizations around the world. The first crypto currency to be introduced is the Bitcoin. Bitcoin is the creation of a computer programmer named using the pseudonym Satoshi Nakamoto that made its debut in January 2009. This is an open source, peer- to-peer, digital currency that has no physical manifestations. Unlike earlier digital currencies that had some central controlling person or entity, the USP of Bitcoin lies in its network being completely decentralized, with all parts of transactions performed by the users of the system. This is similar to the U.S. dollar so, Bitcoin is a fiat currency in that it is not redeemable for some amount of another commodity i.e. Bitcoin in itself...
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...A N N U A L REPORT 2015 Financial Highlights As of or for the year ended December 31, (in millions, except per share, ratio data and headcount) Reported basis1 Total net revenue Total noninterest expense Pre-provision profit Provision for credit losses Net income Per common share data Net income per share: Basic Diluted Cash dividends declared Book value Tangible book value2 2015 $ $ $ Selected ratios Return on common equity Return on tangible common equity2 Common equity Tier 1 (“CET1”) capital ratio3 Tier 1 capital ratio3 Total capital ratio3 Selected balance sheet data (period-end) Loans Total assets Deposits Total stockholders’ equity Headcount 93,543 59,014 34,529 3,827 24,442 6.05 6.00 1.72 60.46 48.13 2014 $ $ $ 95,112 61,274 33,838 3,139 21,745 5.33 5.29 1.58 56.98 44.60 11% 13 11.6 13.3 14.7 $ 837,299 2,351,698 1,279,715 247,573 234,598 10% 13 10.2 11.4 12.7 $ 757,336 2,572,274 1,363,427 231,727 241,359 Note: 2014 has been revised to reflect the adoption of new accounting guidance related to debt issuance costs and investments in affordable housing projects. For additional information, see Accounting and Reporting Developments and Note 1 on pages 170 and 183, respectively. 1 Results are presented in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP), except where otherwise noted. 2 Non-GAAP financial measure. For further discussion, see “Explanation and Reconciliation of the Firm’s Use Of Non-GAAP ...
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