Analysis Of The Bitcoin Article In Relation To The Theory (Article Critique Sample)
1.Make clear comparisons between what the textbook defines as theory and what the situation or policy is about. Be specific about the theory you will critically asses.
2.make your critical analysis of the Bitcoin article in relation to the theory in chapters 28 and 29.
3.Make your own conclusions
You should spend most effort on the second step.
Here is the Bitcoin article link:https://www.forbes.com/sites/jeffreydorfman/2017/05/17/bitcoin-is-an-asset-not-a-currency/#34d70ca52e5b
Two sources are: 1. The bitcoin article, 2. the textbook chapter 28,29.(I will upload)
Do NOT Paraphrase or plagiarize!!
Monetary Policy and Bitcoins
Monetary theory gives a clear outline of the manner in which monetary policy should be implemented in the economy to ensure a controlled supply of money. According to the textbook, the fed is responsible for ensuring that the monetary policy is implemented within the economy. Therefore, the fed can do this by controlling the interest rates and through the open market operations. As well, the monetary policy includes the controlling of the amount of reserve that should be kept by banks.
In regard to the bitcoin article, the transactions of bitcoins are slow in the market hence making it an ineffective form of currency to use within any economy. The Fed requires that the economy is in active participation in the open market operations. This includes the purchase and selling of bonds in order to control the amount of money that is available in the economy. As a result, such open market operations have to take place within a short period because the value of the currency is also appreciating. In the case of the bitcoin, it is difficult to effect the open market operations because completing one transaction can take a long period. In addit
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