CONTENT DESCRIPTIONS

• Bitcoins: What Are They?
• Benefits and Advantages
• Risks and Weaknesses
• The Crash of 2013
• Lack of ‘Federal Reserve’ or FDIC
• Uses of BitCoin
  • Legal
  • Illegal
• Universally Transferable
• Should It Be Acceptable?

1a. WORKING HYPOTHESIS 1

We can try to predict the movement of BitCoin for our own benefit, and we may have success from time to time. But that’s merely a coincidence. At the end of the day, none of us really know whether the price per coin is going to rise or fall. It is for this reason, that investing our money in BitCoin seems foolish and overly optimistic at best.

1b. WORKING HYPOTHESIS 2

Because bitcoins are completely virtual and only exist online, they are very difficult to trace. This gives bitcoin owners the freedom to spend their coins however and wherever they want. It wouldn’t pose much of a problem if everyone spent their bitcoins legally. But the astounding lack of security presents a golden opportunity to criminals. Drug dealers can now distribute large quantities of the product online with virtually no risk. These new opportunities obviously present big problems and bring up the question of whether or not bitcoins should be legal.

2. TOPICS FOR SMALLER PAPERS

I’m not really sure I understand this section of the White Paper.

3. CURRENT STATE OF THE RESEARCH PAPER

I’m still not 100% sure that I can accurately  and knowledgeably discuss my topic. Partly because there is just a ton of information about the subject, but mostly because I haven’t decided on a specific thesis yet. I don’t want to commit to one specific idea just yet because I don’t to realize in 6 weeks that I made a wrong decision. I think that if I find a way to balance several different concepts and opinions, I’ll be able to write a successful paper.