Case 4: Bitcoin as an Ethical Dilemma

Instructions. Read Case 4: Bitcoin as an Ethical Dilemma which can be found on p. 154-155 of your Hill and Hult Global Business Today book.

• The following articles may also be helpful:
  • https://bitcoin.org/en/how-it-works
  • http://www.bloomberg.com/bw/articles/2013-12-12/bitcoin-needs-banks-for-wider-acceptance-as-regulatory-scrutiny-rises

After reading and reflecting upon the discussion questions below, please write-up your case assignment according to the instructions in the syllabus. For your convenience, this format is provided below. Remember, your answers to the below discussion questions make up “Section 2” of your case write-up, and each answer should be provided in a separate paragraph. Refer to the syllabus for specific grading criteria.

Format for Cases

Cases should be submitted in Microsoft Word format and should be double-spaced using a common font such as Times New Roman 12 point font. Please no less than 2pgs

At the top, left corner of the first page 1 of the case, please include the following information, in this format:

Name

Email Address

Course Number

Date

Case Title

Case 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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