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In fact, if we all stopped believing in it, it would have no use at all! It is, of course, money. But not just any money, in this 6 minute English, we'll be talking about the infamous Bitcoin.
Is it the same as 'real' money? Can it be trusted? Dan and Neil discuss the issue and teach you six items of vocabulary. Dan Hello and welcome to 6 Minute English. I'm Dan and joining me today is Neil. But what about the cryptopart? Dan Well, crypto is a prefix meaning hidden or secret — it comes from the word cryptic which means mysterious or difficult to understand. You may have heard about the most popular crypto-currency at the moment, the Bitcoin.
Dan First our quiz question. When was the Bitcoin crypto-currency first created? So…Bitcoin, what do you know about it? Dan You are right on the money, which means correct, both times. Bitcoin is just like any other currency except for two things. Neil Legal tender means the official money that can be used within a country.
You can use it to buy items from anyone who will accept it, and its value fluctuates. Neil Fluctuates means changes in level or amount. Dan Ah, the second thing is that bitcoin is a digital currency, meaning that with the exception of a few tokens, it largely exists online only.
You see, even though Bitcoin is not regulated by a bank or government, it still has a process that stops people from cheating. There are only two ways to get bitcoins. You either trade them from someone, or you go mining. Neil Oh wait, I've heard about this. This is when you use your computer to run calculations which verify other Bitcoin transactions. In fact, one stock exchange in Chicago has begun trading in Bitcoin futures contracts. Neil A futures contract? That means that investors believe Bitcoin, which started the year worth under dollars will continue to rise in value, albeit at a slower rate.
Neil Soared in this context means increased very quickly. So, now big investors are betting on the value of Bitcoin in the future.
But he also mentioned that the banks have a lot of scepticism. That's a doubt that something is real or true. In this case, whether Bitcoin is reliable or not. After all, a fool and his money are soon parted. We know that for a fact. I asked you when the Bitcoin crypto-currency was first created.
Neil First we had currency. Name three currencies and their countries, Dan. Rupee for India and my favourite, Metical for Mozambique. Next we had cryptic. Something which is cryptic is mysterious or difficult to understand. For example, what do rich people need, poor people have and if you eat it, you die? Neil A cryptic riddle indeed! The Euro is legal tender within Spain, but what was the legal tender before that?
Then we had fluctuates. If something fluctuates, it changes in amount or level. The stock market fluctuates. Neil But my love for my family never does. Then we had soared , which means increased very quickly. Dan Finally we had scepticism.
Scepticism is doubt that something is real or true. What sort of things are people sceptical about, Neil? Are robots and artificial intelligence taking over from humans? Dan and Neil discuss the rise of the machines. Are you trying to give up drinking this month? Catherine and Rob discuss abstaining and the benefits of a dry January. Would you pay more for coffee if you knew it was doing some good?
Dan and Catherine discuss the pros and cons of ethically produced coffee. Bitcoin is here and it's generating interest. Is that a good or bad thing? Dan and Neil discuss the pros and cons of this digital currency.
Can science prove the existence of 'man flu' or are men just big babies? Dan and Neil discuss all this and give you six useful items of vocabulary. A popular job at this time of year is playing the part of Santa. But what does it take to be the perfect Father Christmas? Neil and Dan discuss whether it's a role that would suit Dan. The number of schoolchildren doing part-time jobs in the UK has fallen. Is that a good thing? Neil and Dan discuss the pros and cons of working while you're still at school.
Tim and Neil talk about interactions that can be misunderstood by people of different backgrounds. Relax, slow down and breathe. Neil and Catherine explore mindfulness - what it is and what benefits it offers.
Are you an emoji person? We explore how simple smiley faces have become powerful communication tools. What do you eat for lunch? Sandwiches are the most popular lunchtime meal in the UK, but why? Catherine and Neil discuss why the police and the legal system are concerned about eyewitness testimony. Catherine and Neil discuss how the pressures of modern living are making us hostile to each other. Why are so many people obsessed with learning about their family history? Neil and Catherine talk about genealogy.
The increased study of extremophile microbes has revealed a lot about what is and is not needed to sustain life on Earth. Why are we so fascinated with the superheroes that populate our cinema screens and comic books? Alice and Neil discuss whether we would miss driving as driverless cars are tested in cities around the world. Alice and Neil talk about their preferences. Alice and Neil discuss circadian rhythms — the so-called body clock that influences an organism's daily cycle of changes.
Why do we fear animals that pose no threat to us? Sophie and Neil discuss the reason why fear of spiders is so common. Neil and Alice talk about the defiant women who fought for their right to choose their representatives. Call them what you want — trainers, sneakers, tennis shoes — but why does everybody love them so much? Sophie and Neil discuss social networks and why we often use different identities for different social media.
Free, digital news is threatening traditional newspapers. Sophie and Neil discuss the pros and cons of news in print. Why are we attracted to some people and not to others? Sophie and Neil discuss love at first sight. What is loneliness and why do we feel it?
Sophie and Neil discuss how feeling lonely can help us to survive. How do you see yourself and how do others see you?
Alice and Neil discuss identity and how appearances can be deceptive. Why is punctuation important?