Professional Issues And Ethics Of Accounting

Breaking a Social Norm Sociology is the social science that studies society, including patterns of social relationships, interactions and culture. Society is based on a set of norms that establish order, and influence our thoughts and behavior. Social norms define what is right and wrong and what is expected of everyone. Each country has its own customs and beliefs which affect social norms, and here in El Salvador, society tends to create stereotypes and judge people very easily. To many Salvadorians, image is everything.

Cryptocurrency is a digital asset that serves as a medium of exchange with no central authority and was created to prevent the issue of double spending. This problem is solved with the use of blockchains where miners confirm transactions on a public ledger. As of today, there are over 1,000 different types of cryptocurrencies, and at least 600 of these have listed market caps of over $100,000. Bitcoin, Ethereum and Litecoin are top cryptocurrencies trading today with their combined market cap topping $331B. Bitcoin, created in 2009, is the biggest cryptocurrency and has recently reached a net value of over $270 billion, with much of its growth being in the last few months. This has led to much

Cryptocurrencies such as bitcoin, ethereum, and ripple have blown up in popularity recently. But with that popularity, they have also lost a ton of popularity which has ultimately led to a loss of the overall value of these coins and left people feeling as though they have been ripped off. People recently have been wondering whether or not these cryptocurrencies are a safe invest after the most recent crash of the market leaving some of the more new investors losing more money then they are gaining. Therefore, cryptocurrencies are not as trustworthy as some people believe them to be, very few may have made a lot of money from cryptocurrencies but you can never truly tell whether or not investing in these coins will completely backfire on you

Bitcoin (BTC), a cryptocurrency, is a type of digital currency which was introduced in 2009 by pseudonymous developer "Satoshi Nakamoto". Since then 12 million bitcoins have come into existence with a current market cap of around 8 billion USD [1]. The algorithm is designed as to allow only 21 million BTC to come into existence ever. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network [2]. Bitcoin is not the first attempt. But none have managed before to take off so dramatically and with such wide adoption to achieve escape velocity. The questions which are important now are how the bitcoin managed this success in

Litecoin – is the second largest cryptocurrency in terms of capitalization in the market today. It reached a market cap of $1 billion by the end of the year, 2013. The litecoin was primarily created as an improvement to the Bitcoin, the market leader. Among the added features are - mining capabilities with the use of an ordinary desktop computer, faster processing time (2.5 minutes versus 10 minutes for Bitcoin), and a maximum limit (84 million versus 21 million) which is four times more than Bitcoin, its leading rival.

First, if it's still an international concept for you, cryptocurrency is any of a number of digital money that can be made use of for online deals without intermediaries such as financial institutions. Without financial institutions, cryptocurrency can be traded and made use of for business between 2 or even more individuals without the oversight-- as well as expense-- of those intermediaries.

Currency acts as a store of value, a medium of exchange and a unit of account. Physical currencies are promissory notes payable to the bearer on demand. Digital currencies are internet-based form of currency. They represent both developments in payment systems and a new type of currency. Digital currencies, in hypothesis, serve as money, at present day they act as money to a small amount of individuals and institutions. It has been often questioned as whether the decentralised digital currency, such as Bitcoin and Litecoin, will emerge as the preferred method of payment for Internet Services or will remain a superficial payment method compared to well established existing payment systems.

In 2009 an anonymous person known as Satoshi Nakamoto invented Bitcoin, a revolutionary creation which can change the world dynamics. Bitcoin can be defined as “a collection of concepts and technologies that form the basis of a digital money ecosystem” (Andreas M. Antonopoulos, 2014). Bitcoin can provide people with considerable benefits, such as low transaction fees and protection. Pitifully, appreciable weaknesses, which may counter its profits, are possessed by bitcoin. Can bitcoin overcome its Achilles heels and evolve into the currency of the future? This essay will analyze the different advantages and disadvantages that users receive from utilizing bitcoin and if bitcoin can become the coin of the future despite his weak points.

The normal money we use today is managed by governments and banks which works on regular fiat money, paper money made legal by a government, which can be printed when needed. The advantage of this system is that it is already an established system, cash doesn’t require a network connection, and Bankcard is accepted almost everywhere. The disadvantage of using the current system is that the bank fee can be expensive, bank system is different in every bank and in every country which makes it difficult to manage and transfer money, and it lacks transparency about how the system runs. Cryptocurrency is not based on regular fiat money rather it is based on nodes which are distributed around the world. These nodes help to solve a highly sophisticated mathematical problem and hold a memory of all transactions made. And the recorded transaction is

In playing poker, those who are fully acquainted with the rules emerge as winners. One of the reasons it is celebrated by both rookie and seasoned bettors is the fact that it employs strategy than luck alone. In order to win, you have to put the time, effort, and determination to fully grasp the game’s gist. There’s nothing to be afraid of about learning poker rules. It is hardly a difficult journey, and you don’t have to thread a needle to make the most out of your poker gaming runs.

The miner gets a reward, a portion of the system’s transactions becomes public so everyone can read it, and accordingly verify if everything is in order. All seems to work in theory, but as we shall see, some of what Bitcoin brings to the table isn’t always theoretically proven. Indeed, some of the implementations, despite being unproven are rather pragmatic, yet still fall under scrutiny and the vast umbrella of research. Like any system, Bitcoin has its strengths and weaknesses. A booming popularity now eggs the question: will Bitcoin be scalable in the future? Just because the mass is bombarded by articles claiming Bitcoin is the new revolution does not make it prone to attacks. In fact, quite the contrary, thanks to its popularity and the digital aspect of the currency, we can expect attackers to multiply and try to take advantage of every available vulnerability at each adequate time to steal bitcoins, or more generally, disrupt the entire system. Many alternatives, less popular than the original, have been erected. Their roles and takes vary depending on the issue they want to tackle. This article will focus on cryptocurrencies that were based off the Blockchain. Alternative chains and protocols/extensions will be discussed; however, altcoins will

Hard currencies are a currency, usually from a highly industrialized country, that is widely accepted around the world as a form of payment for goods and services. A hard currency is expected to remain relatively stable through a short period of time, and to be highly liquid in the forex market (Investopedia, 2009). The forex market is the largest, most liquid market in the world with an average traded value that exceeds $1.9 trillion per day and includes all of the currencies in the world. There is no central marketplace for currency exchange; trade is conducted over the counter. The forex market is open 24 hours a day,

The dramatic development of blockchain technologies seems to be a double-edged sword. Although cryptocurrency leads to innovative payments and transfers, it may be a tool for criminal usages. In terms of benefits, bitcoins have ability to solve double-spending problems and Ethereum’s smart contract is used for sharing economy. On the other hand, because there is no legal which is responsible for Bitcoin trading activities, Bitcoin is considered as one of the greatest risk to national security through illegal operations involving to financing of terrorism and extremism (Vovchenko et al, 2017). In 2013, for example, the U.S government closed down the largest website, named Silk Road, involved to illegal goods trading, in which there is 1.5% of Bitcoin was used for trading illicit drugs and counterfeit

nomins can be redeemed for their face value even if the price of havvens falls.

Bitcoin users are in sole control of their money as there is no central authority that governs this crypto currency. Payments made in Bitcoins are unable to be traced to the owner, as there is no personal information being tied to the transactions made. This also protects the users of Bitcoin from identity theft. As Bitcoin is a digital currency, it can be backed up and encrypted to ensure your money would not be lost.