Bitcoin. What is its Impact on the Future of Online Commerce?

Pre-University Paper from the year 2019 in the subject Computer Sciences - Cryptocurrency, grade: 1, , language: English, abstract: In general, this paper is going to consist of an explanation of Bitcoins and the Blockchain-system, followed by the results of the question if Bitcoins could impact the future of online commerce. Additionally, this paper will exhibit the risks of investing or working in this decentralized trading system.To show the procedure of purchasing Bitcoins or other cryptocurrencies, I am going to conduct a self-experiment and procure a cryptocurrency and document the process of doing so. Cryptocurrencies have been causing major public attention for the last few years. Especially the most prominent one, Bitcoins. In between all this internet activity people seem to overlook the real meaning of Bitcoins, how they work and how they could be integrated in the economic world as it is right now. The goal of this pre-scientific paper is to explain the function of Bitcoins, reveal it ?s risks and to elucidate the possibility of Bitcoins making an impact on the future of online commerce, by detailed literature and internet research.