10115518

Daniyal Ahmad Rizaldhi

English 1 - 3

Last Exam Project

BITCOIN
<s>

Bitcoin<s> <v>is a form of digital<v> currency, created and held electronically.

<s>
No one<s> <v>controls<v> Bitcoin. <s>Bitcoins<s> <v>are not printed<v>. Like dollars or
euros, <s>Bitcoins<s> <v>were produced<v> by people, and <v>increasingly<v> businesses,
<v>
running<v> computers all around the world, <v>using<v> software that solves
mathematical problems.
<s>
Bitcoin<s> <v>is the first example of a growing category of money known as <v>
cryptocurrency.

What<s>

<s>

makes<v> it different from normal currencies?

<v>

[i]

Bitcoin can be used to buy things electronically [i]. For example, [d]it is like
conventional dollars, euros, or yen, which are also traded digitally [d].
However, [i]Bitcoin is most important characteristic, <fanboys>and<fanboys> [d]the thing
that makes it different to conventional money[d], is that it is decentralized[i]. <s>No
single institution<s> <v>controls<v> the bitcoin network. [i]This puts some people at
ease[i] [d]<cc>because<cc> it means that a large bank cant control their money[d].

Who<s>

<s>

created<v> it?

<v>

[i]

A
software
developer
called Satoshi
Nakamoto proposed
bitcoin[i],
[d]<cc>
which<cc> was an electronic payment system based on mathematical proof [d].
<s>
The idea<s> <v>was to produce<v> a currency independent of any central authority,
transferable electronically, more or less instantly, with very low transaction fees.

Who<s>

<s>

prints<v> it?

<v>

No one. <s>This currency<s> <v>is<v> not physically printed in the shadows by a

central bank, unaccountable to the population, and making its own rules. [i]Those
banks can simply produce more money to cover the national debt [i], [d]<cc>thus<cc>
devaluing their currency[d].
Instead, [i]bitcoin is created digitally by a community of people [i] [d]<cc>that<cc>
anyone can join[d]. <s>Bitcoins<s> <v>are<v> mined using computing power in a
distributed network.
[i]
This network also processes transactions made with the virtual currency[i],
[d]<cc>
effectively<cc> making bitcoin its own payment network[d].

So

you<s>

<s>

cannot churn out<v> unlimited bitcoins?

<v>

Thats right. <s>The bitcoin protocol the rules that make bitcoin work <s>
<v>
say<v> that only 21 million bitcoins can ever be created by miners. However,
<s>
these coins<s> <v>can be<v> divided into smaller parts (the smallest divisible amount
is one hundred millionth of a bitcoin and is called a Satoshi, after the founder of
bitcoin).

What<s>

<s>

is<v> bitcoin based on?

<v>

<s>

Conventional currency<s> <v>has been<v> based on gold or silver.

Theoretically, <s>you<s> <v>knew<v> that if you handed over a dollar at the bank, you
could get some gold back (although this didnt actually work in practice). But [i]bitcoin
is not based on gold[i]; [d]its based on mathematics[d].
Around the world, [i]people are using software programs [d]<cc>that<cc> follow a
mathematical formula[d] to produce bitcoins[i]. [i]The mathematical formula is freely
available[i], [d]<cc>so that<cc> anyone can check it[d].
[i]
The software is also open source [i], meaning [d]<cc>that<cc> anyone can look at it
to make sure that it does what it is supposed to[d].

Is BitCoin Legal ?
<s>

Bitcoin<s> <v>is<v> of interest to law enforcement agencies, tax authorities,

and legal regulators, all of which are trying to understand how the cryptocurrency fits
into existing frameworks. <s>The legality of your bitcoin activities <s> <v>will<v> depend
on who you are, where you live, and what you are doing with it.
[i]

Bitcoin has proven to be a contentious issue for regulators and law enforcers [i],
[d]
both of <cc>which<cc> have targeted the digital currency in an attempt to control its
use[d]. [i]We are still early on in the game[i], <fanboys>and<fanboys> [d]many legal authorities
are still struggling to understand the cryptocurrency [d], let alone make laws around it.
Amid all this uncertainty, <s>one question<s> <v>stands out<v>: is bitcoin legal?
<s>
The answer is<s>, yes, <v>depending on<v> what youre doing with it.
www.coindesk.com

Note :
Symbols and Colors

Description
Simple Sentence
Compound Sentence
Complex Sentence
Compound-Complex Sentence

<s>

<s>

Subject(s) of the sentence

<v>

<v>

Verb(s) of the sentence

<fanboys>

Coordinator(s) of the sentence

<fanboys>

<cc>

<cc>

Conjunctive-coordinator(s) of the sentence

<c>

<c>

Conjunction(s) of the senctence

[i]

[i]

Independent clause(s) of the sentence

[d]

[d]

Dependent clause(s) of the sentence