GUESS: These words appear in the article you are going to read. Do they help you guess the content of the article?
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bitcoins / disappeared / shut down / hackers / digital currency / electronic payments / online / experts / rules / system / safer / history / bubbles / thefts / stronger
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INVEST: What's best to invest in? Complete this table with your partner(s). Change partners often and share what you wrote.
Invest in…
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Good things
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Bad things
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bitcoins
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houses
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art
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a bank
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an IT start-up
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green energy
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MONEY: Rank these with your partner. Put the safest at the top. Change partners often and share your rankings.
• bitcoins
• credit cards
• banknotes
GAP FILL
Almost $500 million of bitcoins (1) ____________ from a company in Japan. The company is called Mt. Gox and it was one of the world's biggest (2) ____________ in bitcoins. It shut down last week after it lost 850,000 bitcoins, worth $473 million. The company's CEO said (3) ____________ stole the digital currency. He (4) ____________ to investors on Thursday at Japan's Ministry of Justice. Thousands of investors are angry because they lost the money they (5) ____________ in Mt. Gox. Bitcoin is a virtual currency – it only (6) ____________ online for electronic payments. Anyone can buy and use bitcoins. There is no need to (7) ____________ a bank account. Many people believe that bitcoins will (8) ____________ paper money, coins and credit cards.
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apologised
dealers
exists
replace
disappeared
open
hackers
invested
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The collapse of Mt. Gox did not (9) ____________ online finance experts. Many said it was an accident waiting to (10) ____________. They also said Bitcoin will recover from the Mt. Gox shock. There are no rules or laws to (11) ____________ Bitcoin so the collapse of Mt. Gox could mean a better system will come. Companies will now make their security (12) ____________ and governments might create laws to make Bitcoin safer. Barry Silbert, CEO of Bitcoin company SecondMarket, says the currency will (13) ____________ back. He told reporters: "If you look at the short (14) ____________ of Bitcoin, there has been a series of bubbles, busts, hacks and thefts. After every (15) ____________ event, Bitcoin has emerged (16) ____________."
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history
control
stronger
bounce
surprise
single
happen
tighter
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• cheques / checks
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• PayPal
• government bonds
• gold
• other _______
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