Critical thinking task: Topic argumentWhether mainstream media or online community, cryptocurrencies, the new emerging system of digital money transfer , quickly arouse interest. One of the most popular cryptocurrencies, Bitcoin, has recently received a lot of negative criticism and speculation in mainstream media due to the recent downfall of the largest Bitcoin exchange, Mt.Gox. However, despite negative media reports, Investing.com reported that Bitcoin prices recently exceeded $700, a 41% increase since February 25 of this year (Investing.com, 2014). The rise in Bitcoin prices has shown that people have real confidence in its future and that cryptocurrencies in general are here to stay and are the future of currency exchange. Cryptocurrencies exist in a decentralized monetary system, meaning there is no central authority, government, or institution that controls the flow of currency (Quast, 2014). The main advantage of a decentralized monetary system is the freedom to eliminate the need to rely on a third party, such as a bank, for monetary transfers. Cryptocurrencies are stored on the user's own computer and use a peer-to-peer system to verify transactions, enabling faster and cheaper money transfers anywhere in the world (Clark, 2013). A decentralized system also prevents the manipulation of money for political or institutional purposes, because the flow of money will be managed by an online network, as opposed to an institution. Additionally, cryptocurrencies are not subject to inflation, as they will have a fixed generation rate that will slow down as quantities increase, and will stop the generation of new currencies once a capacity limit is reached. offer will have been reached. paper ......d readers with the news of "the fall of the largest Bitcoin exchange, Mt.Gox" as evidence contrary to this claim. Additionally, this short story was very popular in mainstream media, so it serves as an effective tool to relate to the reader and generate reader interest. Bitcoin: decentralized virtual currency. Retrieved March 9, 2014 from Data Center Journal: http://www.datacenterjournal.com/it/bitcoin-decentralized-virtual-currency/Investing.com. (March 4, 2014). Bitcoin surpasses $700 as prices continue to rebound. Retrieved March 4, 2014 from investing.com: http://www.investing.com/news/forex-news/bitcoin-rallies-above-$700-as-prices-continue-to-rebound-270066Quast, B. ( 2014). Bitcoin and cryptocurrencies. The Geneva Institute of Advanced Studies, 1-4.