Essay about Economics Question and Answers - 1254 Words

Chapter 1: The Power of Markets What are the two basic assumptions that economists make about individuals and firms? Economists have two basic assumptions which keeps the economy in check. One is that people try to make themselves as versatile as possible maximizing their overall potential. The other is that a firm would do what it needs to make the most profit possible. What is the role and significance of prices in the market economy? Prices in a market economy are very important. Price allows us to give out goods appropriately to those who are able to pay. What’s so great about a market economy anyway? Market economies are great for many reasons. A market economy makes our lives better through competition either through lowering†¦show more content†¦Chapter 4: Government and the Economy II What are the main reasons why government should take only a limited role in a market economy? There are many reasons why government should have a light touch in market economies. Some government programs may be to costly and in the end backfire if not planned through thoroughly or may of even been thought up by corrupt politicians. The government also makes the struggle as a poor family harder to bare as taxes are more often then not, in the government, in favor of keeping the money where it is. Chapter 5: Economics of Information Basic economic models assume that all parties have â€Å"perfect information.† How does â€Å"informational asymmetry† undermine our market economy? Information asymmetry is great for some and awful for others. It also leads to rational and irrational discrimination. For example, it could lead to hiring a male over female, a Caucasian over African American, and other discriminatory decisions, in these cases are understandable.(Women have maternity leave; African Americans are 28% more likely to of gone to jail.) Chapter 6: Productivity and Human Capital After reading Whelan’s argument, do you agree that Bill Gates should be so much richer than you? Why? Not Mentioned. Evaluate the following statement from pg. 113: â€Å"We should not care about the gap between the rich and the poor as long as everyone is living better.† I believe this statement has one solidShow MoreRelatedQuestions and Answers on Economics1436 Words   |  6 Pagesï » ¿Question 1 Economics and Alcohol Abuse - When economists think about a product in general, they think supply and demand. If there is no demand for the product, then there will likely be a smaller supply. If the item is rare and there is a high demand, then the product will be expensive. One political and economic idea about reducing alcohol abuse is to target the youth market where alcohol is prevalent, if illegal. The youth market, that is 14-17 years of age, are more likely to be more affectedRead MoreQuestions And Answers On Economics And Economics : Questions On The Financial Market1030 Words   |  5 Pagesclass to support your answer. GDP is not a measure of well-being, it is a number. As Whitehouse pointed out, â€Å"for measuring the success of policy, GDP is far from ideal.† He furthered his claim by giving a rather radical scenario of everyone working 120 hours and its impact on GDP. If all you use is GDP to make policies you will end up in a world that forgoes any happiness for a dollar. GDP does partially coincide with the standard of living, but its not the singular answer. Whitehouse wrote aboutRead MoreBusiness Economics: Questions and Answers968 Words   |  4 Pagesconsolidated financial statements is restricted to the amount by which the cost of the investment is more or less than the book value of the net assets acquired. Noncontrolling interest in net assets is unaffected by such writeups or writedowns. The economic unit concept supports the writeup or writedown of the net assets of the subsidiary by an amount equal to the entire difference between the fair value and the book value of the net assets on the date of acquisition. In this case, noncontrolling interestRead MoreSome questions with answers managerial economics5554 Words   |  23 PagesManagerial Economics Q.1.0) For each of the following events, assume that either the supply curve or the demand curve (not both shifted). Explain which curve shifted and indicate the direction of the shift. a.From 1950 to 1979 the wages paid to fruit pickers increased while the number of fruit pickers employed decreased. b.During the same period the price of radio sets declined, while the number of radio sets purchased increased. c.Housing prices are rising but more houses are sold. d.AustralianRead MoreEssay about Marginal Cost and Correct Answer1404 Words   |  6 PagesQuestion 1 5 out of 5 points Economic profit is defined as the difference between revenue and ____. Answer Selected Answer: total economic cost Correct Answer: total economic cost Question 2 5 out of 5 points Recently, the American Medical Association changed its recommendations on the frequency of pap-smear exams for women. The new frequency recommendation was designed to address the family histories of the patients. The optimal frequency should be where the marginal benefit of anRead MoreEssay about Econ Ch.1728 Words   |  3 PagesLimits, Alternatives, and Choice Multiple Choice [QUESTION] 1. Economics is a social science that studies how individuals, institutions, and society may: A) Expand the amount of productive resources available to them B) Attain a minimum level of unemployment C) Best use scarce resources to achieve the maximum satisfaction of economic wants D) Reduce the prices of goods and services to consumers Answer: C Topic: The Economic Perspective Difficulty: 2 Medium Learning Objective: 01-01 Read MoreEconomic Questions Essay645 Words   |  3 PagesEconomic Questions â€Å"Why would a developing nation answer the three basic economic questions differently than a country like the United States?† There are three basic economic questions that each and every society must answer to. The way that the society answers to these questions shape and define their economic system. The first economic question that they must answer to is â€Å"What Goods and Services Should We Produce?† The second question is â€Å"How Should We Produce Goods andRead MoreAnalysis Of Ibn Haldun And Adam Smith And David Hume And Karl Marx852 Words   |  4 Pages It is one of the hardest questions and unfortunately still unknown in the living world in despite of a myriad of academic studies. Many scholars from all around world asked this magic question in different time over the history. From Ibn Haldun and Adam Smith to David Hume and Karl Marx, from Alfred Marshall and Robert Solow to Paul Romer and Daron Acemoglu, there have been so many prominent and distinguished scholars who tried to find an answer to this question in order to understand the worldRead MoreEco 550 Quiz 1 (2013) Essay examples691 Words   |  3 PagesQuestion 1 3 out of 3 points To reduce Agency Problems, executive compensation should be designed to: Correct Answer: create incentives so that managers act like owners of the firm. Question 2 3 out of 3 points In the shareholder wealth maximization model, the value of a firms stock is equal to the present value of all expected future ____ discounted at the stockholders required rate of return. Correct Answer: profits (cash flows) Question 3 3 out of 3 points TheRead MoreEconomic: Economics and Correct Answer824 Words   |  4 PagesLinh Question 1 10 out of 10 points A monopoly will usually produce Answer Selected Answer: where its demand curve is elastic. Correct Answer: where its demand curve is elastic. Question 2 10 out of 10 points Suppose a firm is currently maximizing its profits (i.e., following the MR=MC rule). Assuming that it wants to continue maximizing its profits, if its fixed costs increase, it should Answer Selected Answer: maintain the same price. Correct Answer: maintain

The Power of Censorship - 2509 Words

Rewriting History: The Power of Censorship The history of the world has undoubtedly been dominated by an endless struggle for power. However, after a brief glimpse into the pages of history it should not take long to realize that the trick to maintaining power lies in the control of information. Even the most fearsome military generals of the past acknowledge the power of the mind and ideas over lethal force. Former Soviet leader Joseph Stalin once said â€Å"†¦ [Ideas] are more powerful than guns. We would not let our enemies have guns, then why should we let them have ideas.† Stalin’s quote personifies the main concept of this literature review which will be discussing the history of government censorship and its effects that are†¦show more content†¦The difference between censorship and propaganda becomes centrally intertwined into the topic of maintaining power and control. Propaganda is frequently the device used to perpetuate the official visio n, while censorship eradicates the rest. These two â€Å"arts† work in tandem to develop a sense of legitimacy for a regime. Propaganda however is unmistakably different and much broader phenomenon than censorship. While censorship attempts to contain alternative views through control and aggression, propaganda tries to impress one view through manipulation, ultimately through lies. Propaganda does not necessarily imply censorship, but censorship is always accompanied by propaganda (De Baets p. 18). George Orwell describes these methods in detail in his novel 1984 when he states that,† All history was a palimpsest, scraped clean and re-inscribed, exactly as often as necessary.† (Orwell 1949 p. 42) This quote illustrates the use of propaganda and censorship as a way of swaying public opinion and justifying the right to power. The pages of history will be rewritten by those in power to best align with their own strategies and motives. The problem now exists for the historian to sort through the high level of distortion and deception and unveil the truth. Here lays many dangers for the historian because in many cases the truth directly conflicts with the way that power is derived. The powers at be willShow MoreRelatedNazi Power And Their Regulations On Censorship986 Words   |  4 PagesA few downsides to this rather successful scene, however, stemmed from the Nazi power and their regulations on censorship. One guideline of the music in Europe was the banning of degenerate music along with any performance or mentioning of Jewish composers and their compositions. Due to this stipulation, several cycles of Beethoven and Wagner worked their way trough this group during this period. Jewish musicians were also forced to leave their jobs in the orchestra, leaving a big gap in performersRead MoreThe Power Of Censorship In Fahrenheit 451 By Ray Bradbury1122 Words   |  5 Pages A novelist, John Mortimer, once said â€Å"I suppose that wri ters should, in a way, feel flattered by the censorship laws. They show a primitive fear and dread at the fearful magic of print.† John Mortimer thinks that in most of the writer’s books, it shows a bit of too much truth and meaning that could cause people to express differently of the books and others. In addition to his words, the way the government works, and how society may take its toll on themselves or several people slowly of what theyRead MorePros And Cons Of Censorship On Society1325 Words   |  6 PagesCensorship and its Caveats on Society From books to the internet, it is very easy to get any information quickly. Although this may be true you can’t find everything you may be looking for, there are things out there that are censored. Censorship is the restriction of certain information to one or a group of people, from others who think it’s dangerous. Censorship can be used in beneficial ways to protect people, but it is often misused to harm people long-term. Here is some information about someRead MoreSeptember 11, 2001. A National Newspaper Journalist Had1132 Words   |  5 Pagesas the alarming position that the unknown man was in as he plummeted to his death. This controversy has impacted our society in many ways, and has taught the future generations in journalism a very important lesson in the power that they have over the American people. Censorship is a common theme in American mass media, especially journalism, and even more so in cases where there are news stories that involve serious topics, dealing with witness accounts, stories, and gory images that would causeRead More Censorship Essay1002 Words   |  5 PagesCensorship The Columbia Encyclopedia defines censorship as the official prohibition or restriction of any type of expression believed to threaten the political, social, or moral order. It is necessarily broad definition. Any type of expression in fact, covers just about everything from clothing to print to movements and even to simply being. George Bernard Shaw described assassination as an extreme form of censorship. It is now omnipresent in society and has been as long as society has existedRead MoreThe Importance Of Media Censorship1013 Words   |  5 Pagesprovided with immediate, accurate and uncensored information. Media censorship has become a greater deal now than it ever was in centuries, because of globalization and the increasing interdependence among other nations has made censorship more harm than any good. Censorship often prevents other perspectives and point of views from being presented and in censorship or censored media and not everyones voices hurt.Media censorship limits a persons understanding, knowledge, and awareness. Which canRead MoreAnalytical Essay On Fahrenheit 4511044 Words   |  5 PagesSuppressing ideas and marginalizing humans is destructive. Censorship leads the society to an unpleasant conclusion. Censorship amounts prohibition of expression of someone’s ideas, thoughts which may be detrimental and prejudicial to a particular class of people. The book Fahrenheit 451, by Ray Bradbury, revolves around the idea of censorship as a bane to the society and culture. The book touches on various consequences of censorship like social isolation and infringement of thoughts. BradburyRead MoreThe Perception Of Beauty Is Subjective And Dependent On The Viewer1645 Words   |  7 Pagesto one, another will most likely have an alternative perspective. Artwork is all about the expression of ideas, the meaning behind why the ideas are expressed a particular way, and the impact the piece has on the viewer’s emotions. The point of censorship is to monitor what information or ideas are being exerted in order to remove harmful or sensitive content from being viewed. However, by removing content, discussion and the expression of ideas are also being removed. This puts restrictions on whatRead MoreThe Effect Censorship has on Art Essay examples943 Words   |  4 PagesThough out history artist have rejected any forms of censorship. Governments have had to enforce censorship laws for the sake of public safety. As well, as to maintain control of society and to uphold the moral and ethical values that the populous demands. Whether you are for or against censorship in art, it serves a useful purpose in moderation, but it can be taken to extremes. Whether it’s a fascist government or a extremist religious organization it is easy for a controversial law to be twistedRead MoreInternet Censorship And Its Effect On Society1053 Words   |  5 PagesInternet Censorship is Detrimental to Society The Internet was designed to enable and facilitate communications with connected systems at the local, state, national and international levels. The United States Defense Advanced Research Projects Agency (DARPA) launched a research campaign to find effective ways to link computers to help the exchange of information. In the 1990s, the Internet took off and entered a growth phase which caused an increase in communications worldwide. DARPA did not

Property Taxes Free Essays

Property taxes – local taxes, immovable property/land tax, motor vehicle tax . (Lukas Szita) A property tax also known as millage tax is a charge on possessions that the holder is obligatory to pay. The tax is imposed by the governing authority of the area in which the property is placed; it can be a national government of country, a federated state, a county/region, or a municipality (In Slovak Republic property tax is the most important income for municipalities). We will write a custom essay sample on Property Taxes or any similar topic only for you Order Now We basically distinguish four general kinds of property: land, improvements to land (which are immobile man-made objects, such as buildings), personal property (transportable man-made objects), and intangible property. Combination of land and developments are called real estate or reality. Under a property tax system, the governing authority implements assessment of the financial value of every single property, and tax is measured in quantity to that value. Methods of property tax utilized differ significantly among different countries. Tax on property is often confused with special assessment tax. There are two basic forms of taxation which are the most popular: first (ad valorem tax) depends on the fair market value of the property. The second one other also called special assessment depends on a special enhancement also named a â€Å"benefit† for its reason. The property tax rate is frequently specified as a proportion. To compute the property tax, the local government uses multiplication of the evaluated value of the property by the mill rate and then divide by 1,000. For instance, a property with weighed value of 100,000EUR situated in a municipality with a mill rate of 20 mills would have a property tax bill of 2,000EUR per year. Property tax in Netherlands is imposed on homes on a municipal origin in two fragments: for the individual who lives in the household, and for the landlord of the house. Individuals who rent house are accountable only for the living part of the tax. Australia’s property taxes are known as property or parcel rates. Parcel rates and regularity of payment are set by local municipialities or councils. Each council has employees who value the land’s price. The land value is value of the just land; they do not include existing non-moveable buildings on property. The measured worth of the land is base for the total charges of rates. Those charges differs from $100 per quarter to 1$, and frequencies of payments are differs according locality. Water rates are also common charges for property owners in Australia. Australia furthermore has stamp duty, used at the time when a property is sold. Fee is paid by the purchaser to the Office of State Revenue. Moreover to mentioned stamp duty there is also a Land Transfer Charge under the NSW State Revenue Legislation Amendment Bill 2010. Stamp duty rates are from 1% to 6. 75% based on the value of property and the state of Australia. Denmark has much simple system for taxing property. There it is 1% fee for property appreciated at less than DKK 3 million and 3% rate for above DKK 3 million. In Greece, property tax is set upon floor-area and bills for electricity. How to cite Property Taxes, Essay examples

Promise and Perils of Digital Currencies †MyAssignmenthelp.com

Question: Discuss about the Promise and Perils of Digital Currencies. Answer: Introduction: Crypto Currency refers to the digital asset configured to be set as a medium for the exchange, utilizing the cryptography to provide a secured transaction and hence, offering a control and limiting the introduction of any additional units relative to currency. The relevant keys, which are private enough are secured and stored in a wallet, technically known as the crypto currency wallets. These crypto currencies are provided with a classification of being a subset to the digital currencies as well as for the alternative currency methodology and the virtual means of value transaction. Among the many, Bitcoin is the first decentralized crypto currency to be launched in 2009. This report presents an insight on the various aspects of crypto currency surrounding different crypto currencies. The report discusses the case study put forward, dealing with the paper on the Bitcoin and its relevance in the crypto currency revolution and in the later sections of the report the required analysis o n crypto currencies is presented in a descriptive manner. E-commerce these days have become a potential market player concerned with the electronic transactions regarding the financial transfers. In relevance to the case study provided, an analysis is led out on the Bitcoin as the crypto currencies used for the electronic transmissions, the related procedures and conquests (Nakamoto 2008). However, the system is well capable of most of the transactions while, it fails to gain its importance regarding a value-based model. The major feature of this type of transaction is the fact that it is completely irreversible as the financial institutions neglect the mediating any discrepancies or disputes. To an extent, a considerable amount of fraud is present as that cannot be avoided. This provoked the need for the cryptographic mode of transfer no basing the transmission process only on trust but proof instead, allowing the two main people in business to carry forward the transmission without the presence of a third-party. This system provides a bet ter computational and irreversible proof for the customers. However, the analysis prove that the paper is focused on the providing the solution for the double-spending problem and henceforth, offering proof for the chronological statement for the transactions. Next is the concept of transaction involved in the digital process of financial transfer. This section of the model introduced the digital coins, associated with digital signature. Signing a hash relative to a previous transaction allows an owner to the transfer the coin to the other and the same is applicable for the consecutive owners (Nakamoto 2008). A payee in charge can proceed with the verification of the signatures for the authentication of the owners. To implement the verification for the double spending by any of the owner, the direct solution for the same is to introduce a central unit, which can be a replicate to the commercial banks that would be responsible for the maintenance of records. To avoid any double-spending from the owners, only the first transaction was approved to be considered so that this provides a relevant record to the payee to understand and trust. The solution to this particular criterion was the introduction of timestamp, which collects the hash relative to a block of commodities that needs to be included. This provides the proof to the existence of a particular data corresponding to a particular phase in order to be in the hash collection. This mechanism helps in the formation of a chain containing the present and the preceding timestamp in the hash ensuring that every additional timestamp reinforces the previous one. The proof-of-work is the standard method to implement distributed network for the timestamp based on the peer-to-peer system. This methodology helps in ensuring that each hash initiates with a number of zero-digits. This mechanism increments each nonce present in the block until it locates the presence of zero bits. If at any instance the CPU expended to satisfy the method, the corresponding block cannot be configures unless a redo is available. Proof-of-work satisfies the majority decision-making procedure as it is based on one-CPU-one-vote. The only technical limitation orienting this methodology was the increasing speed of the hardware was resolved with the evaluation of transfer of average number of blocks each hour. Following few relevant steps as is presented in the study, helped in the easy networking of the blocks. Adding to this, the nodes are the longest chain that can be considered as the correct one. At the instances of mismatching information from the nodes, the first received broadcast by the nodes is considered while the other is stored and the following proof reading method provides the longest branch. On missing any node, the blocks potentially report about the same with the receiving of the next one. Regarding the initial transaction a new coin is achieved by the creator of the blocks. This way the addition of incentives leads to the circulation of the coins in the system. In this systematic proceeding, the CPU time and the electricity is on the expenditure. Transaction fee is possibly funded for the incentive. Any predetermined entry of coins leads to the transition entirely surrounding the transaction fee and the same is without any inflation. This incentive helps in effective fraud management as the greedy owner, if any will discover to steal his own transferred payments or will end up crating new coins. The role of the disk space proves to be beneficial as prior to discarding of the transaction in coin the disk space is saved accordingly. Merkel tree is beneficial equipment for restricting the breaking of the blocks hash without the need of storage for the earlier interior hashes. Following the corresponding block header with the absence of any transaction estimates to be 80 bytes. This Bitcoin methodology was introduced with an advantage of payment verification mode, following which, it became easy to run a full check on the network node to find the longest proof-of-work in the present copy of the block header and utilizing the Merkel tree this can be added on to the time-stamped block chain. However, there is a percentage of vulnerability in concern to an attacker. Business receiving payments on a frequent basis will be more reliable on a personalized network. Developing a system to handle each coin on an individual approach is not a feasible option, following this a set up with multiple units as input and outputs were used to split and combine each transaction to provide an efficient transfer system. The fan-out option based on inter-linked transaction is not a limitation in this case as the extraction transaction record is not important. Regarding the security concept especially surrounding the banking model, keeping the private keys anonymous potential will break the flow of information especially surrounding the identity of the individuals concerned with the transaction, similar to the stock exchange mechanism. An introduction to another feasible firewall is the utilization of a new pair of keys to avoid the linking with any common owner (Nakamoto 2008). This is a digital mechanism of electronic transaction based on the utilization of Bitcoin with various ways to provide security without solely depending on trusting third parties or involving them but just on the expenditure of CPU time and electricity (Kogias et al. 2016). Mining Crypto-Currency: Crypto currency mining states to the procedure through which verifications of transactions management are done and likewise added to the segment of public ledger, technically termed as the block chain (Vigna and Casey 2016). Through this procedure new coins are released. There are various kinds of crypto currencies, few which can be stated are Bitcoin, Ethereum and Zcash. Comparison on the resources for the mining of crypto currencies is provided. For regular users using the computer daily, the technique of CPU mining is designed that can be used for the purpose (Lewenberg et al. 2015). In this case, the CPU mining method utilizes the general processor of the residential computers. GPU mining refers to Graphics Processing Unit, which is especially used in a gaming computer as this is available in a high end machine. The GPU is potential for the mining of different kinds of crypto currencies and the most profitable of them varies with time. Coins providing minor advantages are easily CPU mined. While, another method for mining crypto currency is the ASICs, these are specially configured machines that are built especially for the mining tasks. This method is a microchip configured system launched in 2013 (Narayanan et al. 2016). These systems consume a great level of power. Pools were arranged to vary the gain of blocks more evenly between the companies set to compete for the limited amount of blocks available. The profitability of mining the Bitcoin in the present situation is dependable on certain various variables; these variable parameters that influence the calculation are the electricity costs, the hardware cost and other rates of variables. The fact relative to the mining of the Bitcoin is that it ranges from the initial phase of involving few enthusiastic to specialized or customized high industry venture (Raymaekers 2015). The easily accessible money oriented with the procedure has expended long time ago and the now only remains low probabilities of cryptographic equivalents. The most realistic fact is the organizations that develop and adapt specialized and skilled mechanisms through launching machines are capable of extracting Bitcoin at present (Courtois and Bahack 2014). In other words, even if mining is possible for regular users, this would not prove to be beneficial or profitable for them as it consumes maximum of the investment. Electricity used per seconds of consumption relative to hash-rates is the major investment linked with the mining method. The future profitability associated with the mining of the Bitcoin is an unpredictable stance, especially owing to the constantly changing graph highlighting the difficulty modifier and the relative price (Eyal and Sirer 2014). To initiate the mining, there is a requirement of ASICs rig, which is as previously mentioned, designed specifically for mining. There are present various anti-miners such as Anti-miner S9, which is available at an estimated value of $1800 to $2400 and there is another associated cost of electricity. Henceforth, it is understandable that Bitcoin mining cannot provide huge profitability until the investment regarding the power consumption and equipments is high enough as in cases of big industries. Threat of Crypto Currencies: The introduction of crypto currency has caused a major shift on the ways people handle business and the transaction methods. This has launched a model based on which the value exchange is done even beyond traditional banking technologies with the simple utilization of mobile phones (Moore 2013). This is making the people independent of the traditional banking methodologies, as peer-to-peer networks based on the cryptographic transfer are gaining the market attention and has reveled another way of financing. Conceptually the direct response orienting the query of whether this is posing a threat to the traditional concepts is a yes. The major industrialist with keen attention has already been capable of identifying the industry for the crypto currency as a threat for on the banks stating that this invention has the potential to transform the arena of finance. Analyzing the trending reports and the studies it can be stated that crypto currency is a major threat to the banks especially surrounding the customer care and their customized preferences associated with the financial transfer (King 2013). This is especially due to the fact that the Bitcoin users are potential enough to manage their own financial dealing without being dependent on banks. Crypto currency rely on their own, which is supposedly uninterrupted technology to provide the full guaranteed value. Higher regulation should be provided with the usage of Bitcoin to prevent the criminals or the web-attackers from utilizing the benefits of crypto currency (Hayes 2017). This has introduced a great level of opportunities for the criminals as recorded in the mid-May the hackers were able to receive thousand dollars through Bitcoin by attacking the global networking system by a malware named WannaCry (Hurlbur and Bojanova 2014). Bitcoin is as introduced earlier in the report is anonymous and thus is easy for the criminals to use. The malware pot5enmtially locked the computers and demanded money in form of Bitcoin to unlock the systems. This provided the criminals with huge amount of money (Kaplanov 2012). The release of the Bitcoin usage critically questions the security oriented with the utilization of Bitcoin especially the misuse of the same by the attackers. Likewise, the Bitcoin do not deserve to be illegal but a pointer to note is the feature of anonymity of the Bitcoin has risen the bars of criminal attacks in the recent past by helping the ransomware attacks (Apostolaki, Zohar and Vanbever 2016). Interest of government of China in Bitcoin: China is involved in the procedure of mining, which is estimated to be the most of Bitcoin and henceforth, potentially can export most of the Bitcoins. The power consumption relative to the technique of mining requires electricity, which is available in China at cheaper rates as compared to the world around (Bonneau et al. 2015). This particular fact has allowed the Bitcoin miners to gain a high level of hash power. Based on research it is discovered that most of the electricity companies in there utilize or channelize their power towards the mining of Bitcoins. The concept of Bitcoin started as a sovereign authority that as a liberal property even free from the government. The largest mining pools controlled by Bitman, situated in Beijing consume or controls almost 30% of the entire processing of power focused on the mining of Bitcoins. China is the place of origin for many Bitcoin mining units suchas F2Pool, AnPool and BTCC. They mine about 60% of the entirely new Bitcoins. Conclusion: Crypto Currency as such the Bitcoin and Zcash still can experience significant hindrance that needs to be overcome prior to the replacement of the present banking systems entirely. The major obstacle can be noted to be from the financial institutions as they oppose the same is enough to stop the proliferation of the crypto currency technology. Organization has witnessed this to be an accessible system but still not certain about the stability they withstand. Additionally, this system still possesses some major internal limitations that should be solved to become a more efficient and fraud proof system and hence would be able to manage the discrepancies in form of the attacks that it is contributing towards. Otherwise, this is a smart invention in this digital world. References: Antonopoulos, A.M., 2014.Mastering Bitcoin: unlocking digital cryptocurrencies. " O'Reilly Media, Inc.". Apostolaki, M., Zohar, A. and Vanbever, L., 2016. Hijacking Bitcoin: Routing Attacks on Cryptocurrencies.arXiv preprint arXiv:1605.07524. Bonneau, J., Miller, A., Clark, J., Narayanan, A., Kroll, J.A. and Felten, E.W., 2015, May. Sok: Research perspectives and challenges for bitcoin and cryptocurrencies. InSecurity and Privacy (SP), 2015 IEEE Symposium on(pp. 104-121). IEEE. Courtois, N.T. and Bahack, L., 2014. On subversive miner strategies and block withholding attack in bitcoin digital currency.arXiv preprint arXiv:1402.1718. Eyal, I. and Sirer, E.G., 2014, March. Majority is not enough: Bitcoin mining is vulnerable. InInternational conference on financial cryptography and data security(pp. 436-454). Springer, Berlin, Heidelberg. Garcia, D., Tessone, C.J., Mavrodiev, P. and Perony, N., 2014. The digital traces of bubbles: feedback cycles between socio-economic signals in the Bitcoin economy.Journal of the Royal Society Interface,11(99), p.20140623. Hayes, A.S., 2017. Cryptocurrency value formation: An empirical study leading to a cost of production model for valuing bitcoin.Telematics and Informatics,34(7), pp.1308-1321. Hurlburt, G.F. and Bojanova, I., 2014. Bitcoin: Benefit or Curse?.IT Professional,16(3), pp.10-15. Kaplanov, N., 2012. Nerdy money: Bitcoin, the private digital currency, and the case against its regulation.Loy. Consumer L. Rev.,25, p.111. King, S. and Nadal, S., 2012. Ppcoin: Peer-to-peer crypto-currency with proof-of-stake.self-published paper, August,19. King, S., 2013. Primecoin: Cryptocurrency with prime number proof-of-work.July 7th. Kogias, E.K., Jovanovic, P., Gailly, N., Khoffi, I., Gasser, L. and Ford, B., 2016. Enhancing bitcoin security and performance with strong consistency via collective signing. In25th USENIX Security Symposium (USENIX Security 16)(pp. 279-296). USENIX Association. Laszka, A., Johnson, B. and Grossklags, J., 2015, January. When bitcoin mining pools run dry. InInternational Conference on Financial Cryptography and Data Security(pp. 63-77). Springer, Berlin, Heidelberg. Lewenberg, Y., Bachrach, Y., Sompolinsky, Y., Zohar, A. and Rosenschein, J.S., 2015, May. Bitcoin mining pools: A cooperative game theoretic analysis. InProceedings of the 2015 International Conference on Autonomous Agents and Multiagent Systems(pp. 919-927). International Foundation for Autonomous Agents and Multiagent Systems. Moore, T., 2013. The promise and perils of digital currencies.International Journal of Critical Infrastructure Protection,6(3), pp.147-149. Nakamoto, S., 2008. Bitcoin: A peer-to-peer electronic cash system. Narayanan, A., Bonneau, J., Felten, E., Miller, A. and Goldfeder, S., 2016.Bitcoin and Cryptocurrency Technologies: A Comprehensive Introduction. Princeton University Press. Raymaekers, W., 2015. Cryptocurrency Bitcoin: Disruption, challenges and opportunities.Journal of Payments Strategy Systems,9(1), pp.30-46. Vigna, P. and Casey, M.J., 2016.The age of cryptocurrency: how bitcoin and the blockchain are challenging the global economic order. Macmillan.