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Incheon
Zenith Foreign
the 8th Language
High School

Q #6. Is Bitcoin functioning well as an alternative
currency?

Economic bubble Alternative currency

Bitcoins will somehow replace all currencies to them
Bitcoin and current currencies will be coexisted
Q #4. (To those who answered Economic bubble in Q
Due to shortcomings of Bitcoin, it will disappear in a new future
#3) What is the reason why the surveyee indicate Bit-
coin as a economic bubble?
42 out of 60 surveyees (70%) replied bitcoins are close to a
bubble that will eventually burst rather than a currency. 42
respondents were asked about the reasons why they inter-
pret bitcoin as a mean of speculation. Most of them an-
swered because of its huge volatility, they are afraid to invest
in bitcoin industry. Some pointed out that the absence of the
fundamental value of bitcoin makes them hesitate to invest
in bitcoin. One of our surveyees claimed as no one knows
how worth bitcoin would be, it has no credibility as an asset.
Unstable value because of big voltality 5 participants replied small population using Bitcoin, 4 replied
Less users of bitcoin Slow transaction speed
slow transaction speeds will eventually make the Bitcoin in-
dustry go under.
18 surveyees (30 %) believed bitcoin functions well as an
Q #5. (To those who answered Alternative Currency in alternative currency. We asked their personal reasons for
Q #3) What is the reason why the surveyee indicate their arguments. Most of them answered bitcoin is a suitable
Bitcoin as an alternative currency?
currency that can resolve drawbacks of existing currencies.
About two-thirds of the surveyees have claimed no-party in-
terruptions while transacting is the strength of Bitcoin that al-
lows it to survive various currencies. Some participants also
mentioned the fourth industrialization which can be pro-
gressed swiftly with alternative currency like Bitcoins. In gen-
eral, 60% of the surveyees believed Bitcoin is yet not ready
as an official currency because of shortcomings it holds.

2. Result analysis
Bitcoin is for sure a suitable currency for the new techno-
Very low transaction fees and fast transaction
logical world, because of its inherent ability to obsolete cen-
No third-party interruptions
User anonymity and safe transaction tralized systems. Humanity has agonized to develop an

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