Money is the most influential item that has and will continue to shape the society of humans. The human society functions on the uses of money, money allows people to measure their wealth and represents the “success” an individual has in life. Barter was the first use of currency in the human race’s history. It was the exchange of resource or services for mutual advantages (PBS), the uses of barter dates back to the origins of modern humans. The human society would later resort to the use of livestock as a source of currency as agricultural sources were in high demand. 806 marks the year of the first know paper bank notes being used as a form of currency. China was one of the first countries to practice paper banknotes as their form of currency,
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Bitcoin is a new form of digital currency that was created in 2009, bitcoin can be used to buy items digitally. The difference between conventional money and bitcoin is that bitcoin is decentralized. There are no institutions that control the bitcoin’s currency. The best thing about bitcoin is that there are no transaction fees and that your account on bitcoin is anonymous. Bitcoin is easy to set up, its takes seconds to set up a bitcoin address with no fees to pay. There are marketplaces called bitcoin exchanges that allows people to buy or sell bitcoins using different currencies. People can easily transfer bitcoins to each other by using mobile apps or on their computers. There is a digital wallet that is used to store bitcoins that acts like a virtual bank account. The downside of using bitcoin is that the bitcoin wallets are not insured by the FDIC due to it being independent.. Bitcoin experiments new digital currency that is still in development. Users of bitcoin should never sore money that they cannot afford to lose since bitcoin is still improving and a relatively new way of storing …show more content…
New York University’s dirty money project found that money notes are a suitable environment that houses hundreds of different kinds of bacteria. NYU researchers analyzed $1 bills and identified around 3,000 types of bacteria. The most common species of bacteria found were known to cause acne. Other bacteria found by the NYU researchers were linked to gastric ulcers, pneumonia, food poisoning, and staph infections (the wall street journal). Paper money carriers more germs than a household toilet. Viruses and bacteria can live on the surface of paper money for 48 hours, and paper money has the potential to transport a live flu virus for up to 17 days (time). The human touch holds the reasons for bacteria on physical currency, bacteria feeds on the waxy substance found on the skin and oils. With physical currency going through circulation multiple of times each day, bacteria builds up. With digital currency such as debit cards or PayPal, they are personal cards that are only handled by the user. Digital money will help eliminate the spread of germs that comes with the use of physical currency, and provides a cleaner form of
Bitcoin is a new form of digital currency that was created in 2009, bitcoin can be used to buy items digitally. The difference between conventional money and bitcoin is that bitcoin is decentralized. There are no institutions that control the bitcoin’s currency. The best thing about bitcoin is that there are no transaction fees and that your account on bitcoin is anonymous. Bitcoin is easy to set up, its takes seconds to set up a bitcoin address with no fees to pay. There are marketplaces called bitcoin exchanges that allows people to buy or sell bitcoins using different currencies. People can easily transfer bitcoins to each other by using mobile apps or on their computers. There is a digital wallet that is used to store bitcoins that acts like a virtual bank account. The downside of using bitcoin is that the bitcoin wallets are not insured by the FDIC due to it being independent.. Bitcoin experiments new digital currency that is still in development. Users of bitcoin should never sore money that they cannot afford to lose since bitcoin is still improving and a relatively new way of storing …show more content…
New York University’s dirty money project found that money notes are a suitable environment that houses hundreds of different kinds of bacteria. NYU researchers analyzed $1 bills and identified around 3,000 types of bacteria. The most common species of bacteria found were known to cause acne. Other bacteria found by the NYU researchers were linked to gastric ulcers, pneumonia, food poisoning, and staph infections (the wall street journal). Paper money carriers more germs than a household toilet. Viruses and bacteria can live on the surface of paper money for 48 hours, and paper money has the potential to transport a live flu virus for up to 17 days (time). The human touch holds the reasons for bacteria on physical currency, bacteria feeds on the waxy substance found on the skin and oils. With physical currency going through circulation multiple of times each day, bacteria builds up. With digital currency such as debit cards or PayPal, they are personal cards that are only handled by the user. Digital money will help eliminate the spread of germs that comes with the use of physical currency, and provides a cleaner form of