Bitcoin Case Study

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My questions for you are: 1. Could there be a situation where a security interest could be placed on the BitCoin? In order for a holder of bitcoin or an interest in bitcoin to use it as collateral, the holder will have to enter into a security agreement with the secured party and in that security agreement provide the secured party with a description of the bitcoin. The secured party would have to rely upon the bitcoin holder to describe the bitcoin accurately and presumably by reference to the encoded crypto logical description, so that it may be distinguished from other bitcoin or bitcoin interests. Like the article talked about with the bakery, when a customer pays there with bitcoins those bitcoins bow become part of the banks collateral. The bank’s security interest will attach to the bakery’s bitcoins. When the bakery uses bitcoins to buy flour from a supplier the banks security interest will continue to encumber them. 2. What is your opinion about BitCoin as a currency? For what uses may it be beneficial? My opinion as BitCoin as a currency is on the fence, I don’t like that you cannot physically hold and count the bitcoin or that it is completely anonymous. But it is all digital, you have a digital wallet and when you buy something you send your money to someone else’s digital wallet. I think it is beneficial because it is run by everyone, not just one government or person. Bitcoin is money backed by the people that use it. I think Bitcoin is a good investment since in the last several years the amount of bitcoins has grown, and some day they could be worth

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