Bitcoin and its effect on microeconomics Research Paper

Bitcoin and its effect on microeconomics - Research Paper Example Some people ask themselves why Bitcoins. People can use them to buy goods and services anonymously. Another key reason why people prefer this kind of currency is the fact that they make international payments, not only easy, but cheap as well. This is because the currency does not belong to any country, and there is no a single country that regulates it. Many small businesses prefer them because they do not have fees like some medium of exchange, for example, the credit cards. Some investors buy this currency for investment purposes. For example, some buy them hoping that the value would go up in the future (Böhme, 2013). One may wonder how they could acquire the currency. There are numerous marketplaces where individuals can buy and sell the currency using other currencies like the dollar or Euro. These marketplaces referred as Bitcoin exchanges. People store Bitcoins in digital wallets existing in their user’s computer. It is like a virtual bank account and allows the owner of the Bitcoins to send them or receive them, save them, or pay for products or services. One of the key effects of Bitcoins is the fact they would reduce trade barriers. This would not only increase the global income, but also the global production. A key reason why Bitcoins would reduce trade barriers is the fact that there is no a single country that regulates or controls them. Therefore, there is no transaction friction. Individuals can make transactions easily and fast (Böhme, 2013). There are no transaction costs. The fact that there is no intermediary like a bank makes transactions fast. The fact that there are no additional charges makes goods and services cheaper. This increases the consumer surplus and so is their utility. People can afford more and cheaper goods, which increases their level of satisfaction. They would boost

J.C. Bach Essay Example | Topics and Well Written Essays - 1000 words

J.C. Bach - Essay Example After J.S. died when J.C. was only fifteen, J.C.’s older brother, Carl Philipp Emanuel Bach, took over the musical instruction (Erickson 174). Bach’s works reveal the influences from both his father and his brother. Classical music is â€Å"serious or conventional music that follows long-established principles (Vandome 7)†. As a classical composer, Bach was limited to the rules placed down by the many classical artists before his time, including those of his father and brother. Indeed, the majority of what J.C. Learned growing up had been the works of his father, which helped him to understand the principles of classical music. After being taught by his father and brother, J.C. Bach moved to Italy in 1756 to learn under Giovanni Battista Martini, another famous classical musician. While living in Italy, Bach obtained the job as the organist at Milan Cathedral, where he also wrote two of his Masses, a Requiem, and a Te Deum. J.C. Bach was the only child of the ele ven Bach siblings to dabble in opera, which became a successful career for him. He first wrote the arias to be placed into the operas written by other composers, and then he wrote pastiches; it was in 1760 that he was paid to write a complete opera, Artaserse. Two years after, he was commissioned by the King’s Theatre in London to write more operas. ... However, not only did Bach remain in London, but he also became the most popular musician in England for a reign of twenty years and was given the job of being the music master of Queen Charlotte and her children. This eventually led to Bach’s marriage to the Queen’s daughter, Cecilia Grassi, in 1766 (Thompson 29). Grassi and Bach did not have children together, but instead focused on Bach’s music career. Unfortunately, at the end of his twenty-year music reign, people’s interest in Bach’s works diminished entirely. By the time of his death on January 1, 1782, he was remembered more as his father’s son than the individual musician that he aimed at becoming. After his death, Franz Joseph Haydn, another well-known name in classical music, worked off of many of Bach’s works, and many of his concerts involved quite a few of Bach’s symphonies. During his time in London, Bach met an aspiring young classical musician by the name of Wol fgang Amadeus Mozart. Mozart had been touring London, as well as Paris, on the orders of his father with the hopes of promoting Mozart’s talents as a classical musician; as a young musical prodigy, Bach became interested in the future of the young man. Due to the amount of time that Bach and Mozart spent together, it is believed that Bach became one of the greatest influences on Mozart’s music. The extent of Bach’s influence can be seen in Mozart’s piano sonata in B-flat in the Linz sonata (Nicholas 88), which is similar to two of Bach’s sonatas that Mozart would have been subjected to in his time. Mozart revered Bach so much that he arranged three sonatas from Bach’s Op. 5 into