In March 2018, the word cryptocurrency was added to the Merriam-Webster dictionary, defined as anyform of currency

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In March 2018, the word “cryptocurrency” was added to the Merriam-Webster dictionary, defined as “any form of currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units.” The most common cryptocurrency is Bitcoin, although a number of alternative coins (altcoins), like Ethereum, Litecoin, Dogecoin, etc., have also emerged recently. Do these cryptocurrencies qualify as money based on the description of what money is in the chapter?

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Principles Of Macroeconomics

ISBN: 9781292303826

13th Global Edition

Authors: Karl E. Case,Ray C. Fair , Sharon E. Oster

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