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Money functions as a placeholder in any economic system; it does not have value outside of what its users place in it as a system of exchange. As noted by Asmundson & Oner (2012), the creation of money is one of the most significant developments in human civilization. Without money, human beings would be reduced to bartering for goods and services. While this may be feasible on a small-scale, community basis, this is not true for a national economy. For many centuries, gold and silver were the primary means of universal exchange, and all national currencies were linked to the possession of precious metals. But “eventually, the paper claim on the precious metal was delinked from the metal,” and paper money became common, although “fiat money is materially worthless, but has value simply because a nation collectively agrees to ascribe a value to it” (Asmundson & Oner, 2012, par. 10).…
References
Asmundson, I., & Oner, C. (2012). What is money? IMF Journal, 49 (3). Retrieved from: http://www.imf.org/external/pubs/ft/fandd/2012/09/basics.htm
Gandal, N., Hamrick, J., Moore, T., & Oberman, T. (2018). Price manipulation in the Bitcoin ecosystem. Journal of Monetary Economics. Retrieved from: Is blockchain the next great hope or hype? (2017). Wharton School. Retrieved from: http://knowledge.wharton.upenn.edu/article/blockchain-next-great-hope-hype/
Yellin, T., Aratari, D. & Pagliery, J (2016). What is Bitcoin? CNN. Retrieved from: http://money.cnn.com/infographic/technology/what-is-bitcoin/
Bitcoin
Explain the Functions of Money
Money as a Means of Exchange
This is a vital function of money in an economy because without money, the only way of exchanging goods and services would be by means of barter, which implies a direct exchange of one commodity for another. The economies we line in are monetary economies in which most of the goods and services produced are exchanged via the intermediary of money, rather than through barter. Whenever money is used to pay for goods and services or for the purpose of settling transactions, it is functioning as a medium of exchange (Jain et al., 2011).
Money as a Unit of Account
Money ought to be able to measure exactly what something is worth. Money should provide an agreed standard measure by which the value of different goods and services can be compared. This implies that the function of money…
References
Goldstein, J., Kestenbaum, D. (2011). What is Bitcoin? NPR. Retrieved 4 April 2016 from: http://www.npr.org/sections/money/2011/08/24/138673630/what-is-bitcoin
Jain, T. R., Ohri, V. K., Mahji, B. D. (2011). Principles of Macroeconomics. New Delhi: VK Publications.
Krugman, P. (2013). Bitcoin is Evil. The New York Times. Retrieved 4 April 2016 from: http://krugman.blogs.nytimes.com/2013/12/28/bitcoin-is-evil/?_r=1
Schwartz, A. J. (2008). Money supply. The Concise Encyclopedia of Economics.
Cryptocurrencies: Background, Details, Advantages
Anyone mildly acquainted with cryptocurrency has probably heard of a currency called Bitcoin. Bitcoin and the success of bitcoin are what helped surge interest within the entire cryptocurrency market, as many view bitcoin as the pioneer of the market as a whole. According to the authoritative website cointelegraph.com, “A cryptocurrency is a digital or virtual currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency. Essentially, cryptocurrencies are limited entries in a database that no one can change unless specific conditions are fulfilled” (2017). The marketplace of cryptocurrency now has several digital-based coins, and many investors view it as where the future of money is headed, though to many it remains a nebulous somewhat mysterious place.
Most Popular
As stated earlier, bitcoin is probably one…
References
Bajpai, P. (2018, March 18). What Are the 6 Most Important Cryptocurrencies Other Than Bitcoin? Retrieved from https://www.investopedia.com/tech/most-important-cryptocurrencies-other-than-bitcoin/
Bloomberg, J. (2018, March 10). We Need To Shut Bitcoin And All Other Cryptocurrencies Down. Here's Why. Retrieved from https://www.forbes.com/sites/jasonbloomberg/2018/03/10/we-need-to-shut-bitcoin-and-all-other-cryptocurrencies-down-heres-why/#1b7955841bca
Bradford, L. (2018, February 26). How Millennials are Using Cryptocurrency to Build the Future. Retrieved from https://www.forbes.com/sites/laurencebradford/2018/02/26/how-millennials-are- using-cryptocurrency-to-build-the-future/2/#36c07997366b
Cointelegraph.com. (2017, December 5). What is Cryptocurrency. Guide for Beginners. Retrieved from https://cointelegraph.com/bitcoin-for-beginners/what-are-cryptocurrencies#history
Foley, S., Karlsen, J., & Putni?š, T. J. (2018). Sex, Drugs, and Bitcoin: How Much Illegal Activity is Financed Through Cryptocurrencies?
Medal, A. (2017, 11). 10 Incredible Uses for Cryptocurrency and Blockchain You Probably Haven't Thought of. Retrieved from https://www.entrepreneur.com/article/305859
Rogers, S. (2018, March 12). 8 Important Words You Should Know About Cryptocurrencies. Retrieved from https://interestingengineering.com/8-important-words-you-should-know-about-cryptocurrencies
RMMagazine
1
Tuttle, H. (2018). Only half of ransomware payouts result in data recovery. Retrieved from http://www.rmmagazine.com/2018/04/02/only-half-of-ransomware-payouts-result-in-data-recovery/
Tuttle (2018) describes how ransomware attacks are rising and people are losing their data to these attackers, who hack into computers and networks, take the information that is stored therein by locking out the users and obliging them to pay a ransom in order to get access to their data. This is why it is called ransomware. The hackers hold the data hostage (instead of people), and if the ransom is paid, then the hackers are supposed to give access back to the rightful owner. However, as Tuttle (2018) shows, there is really only a 50-50 chance of one actually getting their data back if they do decide to pay the ransom.
These findings come from the research firm CyberEdge Group, which “found that 55% of organizations were compromised by ransomware last year”…
The finance world is finally abuzz with news of bitcoin and other cryptocurrency. What are cryptocurrencies, and what do potential investor need to know about them? This bitcoin essay offers a brief background of bitcoin and other cryptocurrencies, also referring to the blockchain software that underlies them. Then, this bitcoin essay explores what financial analysts say about the viability of bitcoin as an investment. Finally, this essay will how and why people purchase bitcoin, as well as how bitcoin can be used as both currency or as investment.
Because they are taking the financial world by storm, is important to learn about bitcoin and other cryptocurrencies. This bitcoin essay will explain bitcoin in simple terms anyone can understand. Ultimately, this essay will show that bitcoin is a risky but potentially lucrative investment. Although the numbers of “bitcoin billionaires” is low, there are a lot of ordinary people who have made…
Cryptocurrency
A cryptocurrency is a medium of exchange (currency) that is digital in form, non-governmental, and relies on cryptography for its security (Investopedia, 2018). It is the latter component of the definition that gives cryptocurrency its name. The vast majority of currency in the world comes in the form of exchangeable units that are issued and have their value controlled by governments. Nations will either allow their currency to float freely on the market, where the value derives in part from supply and demand, and is backed by the ability of that state to raise revenues. These are considered to be the strongest currencies. Other currencies have values that are fixed by the state – as a medium of exchange those official values may or may not reflect the ability of the state to raise funds, but the value is enforceable by law regardless.
A cryptocurrency is different in that…
Introduction
Blockchain technology is an innovative addition to the financial market. What began as a brainchild by the people or person known as ‘Satoshi Nakamoto’, blockchain technology has evolved and become something far greater than most would have imagined. Blockchain technology allows for digital data to be distributed (not copied), allowing for it to become the foundation for a new kind of internet. Businesses have used the technology to implement the use of digital currency like Bitcoin and promote growth of blockchain companies. Some of these successful blockchain companies are: Aeternity, Bitfury, DFINITY, ContentKid, and Blockphase. These companies represent the future of blockchain technology and how far it will go.
Background: What is Block-Chain Technology?
A recent innovation within the financial world, the mastermind behind blockchain technology is ‘Satoshi Nakamoto’. He is the pseudonym for a person or a group of responsible for developing, authoring, making, and deploying bitcoin, bitcoin…
Pony Botnet attack. Details about the attack, resolutions, and concerned parties will be studied.
Background/Hacking
Botnets can be loosely described as a collection of interconnected compromised devices, known as 'zombies', synchronously working with compromised devices to execute malicious tasks. Zombies are not self-directed like internet worms; they need proper direction to carry out a particular function. Zombies can be transmitted by a variety of channels for instance, an Internet elay Chat (IC) channel, from where the commands are sent by a master channel by these zombies (Jermyn et.al, 2014). Some typical botnet tasks include mass spamming a company's email address. One email address could be attacked by numerous zombie devices instigating a denial of service.
In case of smartphones, botnets can cause potential damage to cellular network infrastructure because they have firm hierarchical dependencies; therefore, they would be unable to counter this cyber-attack. The recent academic work based on mass…
References
Cybercriminals use Pony Botnet (2014, February 24). NBC News - Breaking News & Top Stories - Latest World, U.S. & Local News. Cybercriminals Use 'Pony' Botnet to Steal Bitcoins, Digital Currencies - NBC News. Retrieved June 16, 2015, from http://www.nbcnews.com/tech/security/cybercriminals-use-pony-botnet-steal-bitcoins-digital-currencies-n37571
Cyber Experts Uncover (2013, December 5). Insurance Journal - Property Casualty Insurance News. Cyber Experts Uncover 2 Million Stolen Passwords to Global Web Accounts. Retrieved June 16, 2015, from http://www.insurancejournal.com/news/international/2013/12/05/313069.htm
Jermyn, J., Salles-Loustau, G., & Zonouz, S. (2014). An Analysis of DoS Attack Strategies against the LTE RAN. Journal of Cyber Security,3(2), 159-180. Retrieved, from http://riverpublishers.com/journal/journal_articles/RP_Journal_2245-1439_323.pdf
Kushner, D. (n.d.). Rolling Stone -- Music, Movies, TV, Politics, Country, and Culture. Hackers Courted by Government for Cyber Security Jobs - Rolling Stone. Retrieved June 16, 2015, from http://www.rollingstone.com/feature/the-geeks-on-the-frontlines#i.15aflb8xvvdm3r
Crypto Currency
Cryptocurrency
Crypto is a term that is an abbreviation for cryptography. In accordance to Vacca (2010), the word cryptography emanates from two words crypto and the Greek term graphikos. The former means a secret that is hidden or concealed while the latter means for writing. The two words when joined together mean a concealing place for notions, words, images and sounds. A cryptocurrency is form of exchange similar to normal currencies for example Euros, Dollars, and Pounds but are created purposefully for exchanging digital data and information through a procedure that is made conceivable by means of particular ideologies of cryptography. In essence, cryptography is employed in safeguarding the transactions and to regulate the generation of new coins. The original or the initial cryptocurrency that was formed and generated is Bitcoin which was unveiled in the year 2009. In the present day, there are numerous other cryptocurrencies which…
References
Vacca, J.R. (2010). Network and System Security. United Kingdom: Elsevier.
Cuthbertson, A. (2014). Darkcoin: The 'Perfect E-Cash' Cryptocurrency Emerging from the Dark Web to Trump Bitcoin, International Business Times. Retrieved from: http://www.ibtimes.co.uk/darkcoin-perfect-e-cash-cryptocurrency-emerging-dark-web-trump-bitcoin-1472144
Higgins, S. (2014). How True Anonymity Made Darkcoin King of the Altcoins, CoinDesk. Retrieved from: http://www.coindesk.com/true-anonymity-darkcoin-king-altcoins/
Tonewsto, A. (2014). Time for Islamic Law to Face the Bitcoin Question, ToNewsTo. Retrieved from: http://www.tonewsto.com/2014/10/time-for-islamic-law-to-face-bitcoin.html
In this dark net essay, we will investigate the dark net. We will describe what it is, what it is not, and how to access in it. The essay will contain information about how the dark web became a way to engage in criminal activity, including: buying and selling drugs; buying and selling weapons; buying and selling fake IDs; trafficking in counterfeit goods; and buying and selling credit card information, social security numbers, and other information necessary for identity theft. The essay will delve into some of the history of the dark net, including the founding of Silk Road, and other services such as nucleus and alpha bay. It will explore the relationship of the dark net to digital currency like bitcoin and blockchain. Our example essay will not only explain the dark net, but also show you how to write the individual parts of an essay including the: introduction,…
In this dark net essay, we will investigate the dark net. We will describe what it is, what it is not, and how to access in it. The essay will contain information about how the dark web became a way to engage in criminal activity, including: buying and selling drugs; buying and selling weapons; buying and selling fake IDs; trafficking in counterfeit goods; and buying and selling credit card information, social security numbers, and other information necessary for identity theft. The essay will delve into some of the history of the dark net, including the founding of Silk Road, and other services such as nucleus and alpha bay. It will explore the relationship of the dark net to digital currency like bitcoin and blockchain. Our example essay will not only explain the dark net, but also show you how to write the individual parts of an essay including the: introduction,…
Introduction
One of the most talked-about emerging technologies is the blockchain. Originally developed for Bitcoin, blockchain shows a tremendous amount of promise in terms of reducing certain types of friction, especially in business (Marr, 2018). Over the past couple of years, blockchain has been unpacked from cryptocurrency and a wealth of applications using the technology are in development. Many observers predict that blockchain technology will revolutionize a wide range of businesses (Marr, 2018).
What is Blockchain?
The heart of blockchain is the concept of the distributed ledger. The original idea behind Bitcoin was to develop a peer-to-peer currency, in the sense that a store of value and unit of exchange could be created without the intermediary of a central bank. The value of this currency would be determined by the forces of supply and demand, based strictly on its users, without the influence of interest rates and other monetary policy…
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Spillover Effect on the Stock Market and Bond Prices in Relation with GARCH
Abstract
This study examines the spillover effect between bond and stock markets in the U.S. using GARCH. The finding of a unidirectional spillover flow from bonds to stocks in the U.S. is discussed in the light of new marketplace variables that have been introduced into the markets in the previous decade. These variables include the rise of HFT, algorithm-driven trading, and central banking interventionism via unconventional monetary policy. The effect on forecasting volatility, price and return of asset classes, studied through the lens of other commodity price movement and volatility—such as oil and gold markets—creates a compelling picture for why GARCH models may need to be reworked to incorporate new data regarding the new ways in which the 21st century marketplace is using technology and central bank interventionism to shape market movements and market outcomes.
Table…
Pervasive Video Games as Art
The form and function of art has evolved and changed quite a bit over the years, decades and millennia. Paintings and sculpture have been artistic mainstays for much to most of the world of the civilized human race. However, with the technological revolution that has roared up over the last fifty years or so, new forms of art have bubbled to the proverbial surface. Digital technology has enhanced prior forms of art e such as photography. Beyond that, completely brand new forms have art have been created and the latter is what this report is assessing in the form of pervasive video games. The depth and breadth of this art and the effects it has on its users and fans when done will are worthy of massive study and analysis both in this report and elsewhere.
Chapter I - Introduction
Video games, at this point…
References
Blizzard. "World of Warcraft." World of Warcraft. http://us.battle.net/wow/en / (accessed
May 29, 2014).
Bogost, Ian. Persuasive games: the expressive power of videogames. Cambridge, MA:
MIT Press, 2007.
Dave Collum's (2016) Annual Year in Review posted at Peak Prosperity and Zero Hedge one week ago gives a lengthy rundown on the year's social, political and economic events, with the core focus of the report going to what will happen in 2017 with the price of equities, precious metals (PMs), and bonds. Collum provides analysis on investing, the U.S. economy, banks, geopolitics and much more in order to justify why he is currently at nearly 60% cash (with expectations of a substantial market correction -- or "mean regression" as he puts it -- to the downside, Collum wants to be sure to have funds available to purchase at the bottom). This paper will analyze Collum's Review and evaluate outcome expectations using three general economic principles (taken from Mankiw's Ten Principles of Economics, three macroeconomic indices, their relation to the overall article, their impact on one another and an appropriate…
Strategic Choices
The author of this report is asked to do a few things within this report. First, the author is to look at and assess the Grand Strategy Selection Matrix. Second, the author is to review and assess the general business model and strategy of Overstock.com. The author of this report is to then select which of the quadrants that Overstock falls within. While it may be a little difficult to pin them down as they are like other online companies in many ways and they are also different in many ways, the choice is pretty clear to the author of this report which one applies to them.
There are, of course, four cells in the Grand Strategy matrix and they are numbered I, II, III and IV. The first cell is for companies that are in turnarounds or re-entrenchment status, are divesting or are liquidating. Examples of firms…
References
Ning. (2014, October 2). Grand Strategy Choice. Mastering Business Strategy.
Retrieved October 2, 2014, from http://strategycapstone.ning.com/page/grand-strategy-choice
Yahoo. (2014, October 2). Yahoo Finance - Business Finance, Stock Market, Quotes,
News. Yahoo Finance. Retrieved October 2, 2014, from http://finance.yahoo.com/
Technological Challenges of Today
The objective of this study is to answer as to what challenges law enforcement officials have faced in the light of technological advances throughout the global environment and to discuss a minimum of three problems that such changes have created. This study will answer as to what the recommendations are for future action that could assist law enforcement officials in becoming more effective in the investigation and prevention of such challenges.
Organized Crime and Technology
The work of Bjelopera and Finklea (2012) reports that technological advances have created new challenges for law enforcement particularly in the area or organized crime. This is because "modern organized criminals often prefer cellular or networked structural models for their flexibility and avoid the hierarchies that previously governed more traditional organized crime groups." (p.1) These type of "fluid network structures" make it more difficult for law enforcement to "infiltrate, disrupt, and…
References
Bjelopera, JP and Finklea, KM (2012) Organized Crime: An Evolving Challenge for U.S. Law Enforcement. 6 Jan 2012. CRS Report for Congress. Retrieved from: http://fas.org/sgp/crs/misc/R41547.pdf
Globalization and new technologies: challenges to drug law enforcement in the twenty-first century. (nd) INCB.org. Retrieved from: http://www.incb.org/documents/Publications/AnnualReports/AR2001/AR_01_Chapter_I.pdf
How the Web Presents New Challenges for Law Enforcement Agencies (2014) Community Policing Dispatch. Vol. 7, Issue 1. Retrieved from: http://cops.usdoj.gov/html/dispatch/01-2014/how_the_web_presents_new_challenges_for_law_enforcement_agencies.asp
Economic Implications of Tax Cut
ith Clinton set to make tax cuts part of her platform for the 2016 election campaign, the implications of a tax cut on the U.S. economy are something to consider (Meckler). However, the fact that the political elite are using "tax cuts" as a stumping platform should indicate exactly how much "impact" that would really have on the economy. Considering the history of the U.S. economy, the system of state-sponsored usury that exists, the tight control of the Fed over interest rates (the control of which effects the economy a great deal more than "tax cuts" -- a point which will be discussed in this paper), the trillions of dollars of debt currently being carried by taxpayers, and the relationship between the financing giants of all Street and the political staples of ashington who supposedly represent "Main Street" but in reality represent the vested interests…
Works Cited
Durden, Tyler. "All of ZeroHedge." ZeroHedge. 13 July 2015. Web.
Gale, William G., Samwick, Andrew A. "Effects of Income Tax Changes on Economic
Growth." Economic Studies at Brookings. September 2014. Web.
Johnston, David. "Tax Cuts Can Do More Harm Than Good." AlJazeera America. 18
Crime is everywhere. People commit a variety of crimes for a variety of reasons. Four of some of the biggest and longstanding crimes people commit are human trafficking, drug trafficking, organized crime, and corruption. These crimes often go hand-in-hand; they do not exist without the other. Therefore, they will have various similarities. They will also have some differences.
One major difference is the scope and scale some crimes have like human trafficking. Drug trafficking although international, tends to have specific destinations and routes. Human trafficking however exists everywhere and the routes can span from three to four countries or more as a country may serve as a pick up point, a transfer point, a departure point, and an entry point. It is a huge way people fuel criminal organizations and is usually the least prosecuted compared to drug trafficking. Some countries like the Ukraine barely prosecute those who have been…
References
Natarajan, M. (2011). International Crime and Justice. Cambridge University.
Trudeau Case Study
Situational Analysis
Alternatives including Analysis
Recommendation and Implementation
Surviving Accounts
Current Account Balances/Payments for Trudeaus at Ages 60-13
Current Account Balances/Payments for Trudeaus at Age 67.5
The Trudeaus are seeking to retire in either 6 years at age 60 or in 13.5 years at age 67.5. They will have 1.5 million dollars in savings at age 60 and north of 3 million dollars in savings at age 67.5. They want to be able to live on $10,000 per month. If they live until 85, the Trudeaus could do this -- but one of two things will happen: they will use all their money and have nothing left for their children; or they will have to wait until they are older to retire in order to live off the interest and save the rest for their children. However, the Trudeaus could compromise and reduce their income per month…
Works Cited
Bernheim, B.D.; Shleifer, A.; Summers L.H. "The Strategic Bequest Motive."
Journal of Political Economy, Vol 93, No. 6 (1985): 1045-1076.
Appendices
Appendix 1. Surviving Accounts
Knowledge Integration Project
1A) Business owners must take a number of different factors into account when determining the form of business. They have to consider the sources and types of risk that the business takes, if there will be employees, and considerations about raising capital or splitting ownership, which can be quite a complex issue depending on the business. In addition, whether there will be any employees matters. Each jurisdiction has its particular issues, so where the business is situated might be a role in the decision. Certainly, the tax implications of the decision are going to be relevant. In some cases, the cost and ease of setting the entity up might matter -- though such costs can easily be outweighed by liability risks for most businesses.
1B) A sole proprietorship is easy to start, which is its main advantage. Because of that it is mainly a suitable form for…
Blockchain
A number of articles have discussed the potential use of blockchain technology outside of the financial realm. Within the financial realm, blockchain is used for cryptocurrencies. The technology is based using peer-to-peer networks to store ledgers of transactions. Proponents of the technology argue that it can be used for other transactions, and that business should be excited about exploring such potential uses (Church, 2017).
There are a couple of interesting things about the claims surrounding blockchain technology. The first is the claim that blockchain technology is incorruptible. The idea is that because each transaction is verified by multiple different parties, there are multiple records of the transaction, so it is difficult to dispute. Now, the problem that will occur is when one of the members of the blockchain doesn't agree – that there are different sets of data and they are in conflict with one another. Just because blockchain…
References
Blockgeeks (2017) What is blockchain technology? A step-by-step guide for beginners. BlockGeeks. Retrieved December 9, 2017 from https://blockgeeks.com/guides/what-is-blockchain-technology/
Church, Z. (2017). Blockchain, explained. MIT Sloan Management School. Retrieved December 9, 2017 from http://mitsloan.mit.edu/newsroom/articles/blockchain-explained/
Wal-Mart's strategy is to be the low cost seller in the market, but how does a company sell at a lower price that the competition all the time? The answer lies in Wal-Mart's supply chain. While many rightfully point out that Wal-Mart's buying power is better anybody else's (Lu, 2014) , because it is the biggest retailer in the world, technology also plays a huge role in how Wal-Mart is able to sell at prices below all the other companies (Fishman, 2003).
Wal-Mart has long recognized that the only way to offer the lowest prices is by sourcing its goods at the lowest price. This does not necessarily mean buying power – Costco, Target, Amazon and others can more or less match Wal-Mart's buying power – but it means getting goods to the store shelves as cheaply as humanly possible. Purchasing is only one part of that, and Wal-Mart has…