case:Bitcoin as an Ethical Dilemma

  1. Instructions. Read Case 4: Bitcoin as an Ethical Dilemma (pictures attached)

    After reading and reflecting upon the discussion questions below, please write-up your case assignment. each answer should be provided in a separate paragraph.

    Format for CasesCase write-ups should follow the following format: Section 1: Introduction – a brief summary of the case and what you will address in the write-up. Section 2*: Answers to questions (at the end of the case). Each answer should be discussed in its own paragraph(s). Section 3: Conclusion – A synopsis of the case and any concluding remarks.

    *The questions to answer for this case (for Section 2) are as follows:

    • Question 1: Do you think bitcoins are approaching being unethical monetary instruments without technically carrying a value similar to “real” coins?
    • Question 2: If bitcoins are used to buy drugs, firearms, or other products that are considered illegal in the country in which bitcoins are being used, does that make bitcoins unethical?
    • Question 3: Do you think the bitcoin system is “evil” as Paul Krugman suggested? Is it similar to a Ponzi scheme?
    • Question 4: Do you think bitcoins were created as a weapon intended to damage central banking and money-issuing banks?
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