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3 pages/β‰ˆ825 words
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3 Sources
Style:
MLA
Subject:
Literature & Language
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Essay
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English (U.S.)
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Why Cryptocurrency is Not the Future of Money Argumentative Essay

Essay Instructions:

An Argumentative Essay allows a writer to express an opinion on a topical issue. The goal of this essay is to offer a new perspective to your reader (s) on a challenging issue. For this assignment, write a 3 page persuasive essay on a topic of your choice. You are required to have 3 credible secondary sources to support your argument. In addition, you must have a 2 In-Text Citations.
You want to find an issue that is both unique and researchable but also a subject you are familiar with. It's fine to choose a popular issue, but try to find your own unique angle or context.
Be sure to offer a clear but debatable thesis statement, remembering that this is an essay, not just a list of random evidence, nor is it just a rant. You want to develop clear and logical reasoning as well as sufficient and reliable evidence to support your claim.
Like all persuasive writing you must always consider your audience therefore, you may want to address a particular audience rather than a general one.
Be sure to use MLA carefully by citing your sources with in-text citations and provide a Works Cited page. Also, carefully proofread your paper for grammar errors and style.
REQUIREMENTS:
Three sources correctly cited. (Less than 3 sources= -20, No sources= F). MLA Format
Plagiarism of any kind is unacceptable. A zero will be given to the paper.

Essay Sample Content Preview:
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Why Cryptocurrency is Not the Future of Money
Lately, there has been too much hype about cryptocurrency, especially bitcoin, which has risen in value over 750% in last year alone CITATION Cha17 \l 1033 (Chang). It has been touted as the future of money and the successor of fiat currency. Cryptocurrency technology started in 2009 after the economic recession that made many people lose faith in fiat currency, which is owned and controlled by governments across the world. A new digital currency that was decentralized and secure offered the much-needed alternative. Since, Bitcoin and other altcoins have gained popularity and their adoption in mainstream economic transactions has increased tremendously in the recent past. Many people believe that cryptocurrency is the future of money and have heavily invested in the technology. However, contrary to their belief, cryptocurrency is not the future of money.
Cryptocurrency is just a bubble that would leave disappointed investors when it will burst CITATION Ric17 \l 1033 (Partington). The upsurge it has experienced in the recent past has been driven by the herd purchase of the cryptocurrency. Cryptocurrency is not backed by tangible commodity like Gold that determines its value. The complex mathematical formulae which are solved to mine bitcoins cannot serve as a valid commodity to back the currency. Thus, when the bubble will burst, many people will lose their investments and it is likely that everyone will lose faith in the technology as a substantive alternative to money. It is also threatened by loss of coins and since it has a finite number of coins, the subdivision of the currency will become a confusing concept as a store of value.
The technology is unregulated and thus no legal framework to support its operations. Though the technology enthusiasts insist this is an advantage, it is likely to cause more harm than good because investors are not protected. When the bubble will burst many people will lose their investment and they cannot turn to the government for a bail out. Many financial institutions around the world are regulated and the governments come to their rescue when th...
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