Individual weekly contribution to Seminar Topic 2 discussion and questions

Read the short case ''Bitcoin as an Ethical Dilemma”.

It is located on pp. 157-158 in your textbook or you can access it from the e-Library resources provided for this course on the learnonline site.   

Answer the questions below. Do NOT answer the questions at the end of case in the textbook.

Attach a word document for each post with the following format:

FAMILYname-Firstname-week#.doc

"Some suggest that bitcoins are close to being termed unethical monetary instruments without technically carrying a similar value to ‘real’ money. If bitcoins are used to buy drugs, firearms, or other products that are considered as illegal in the country in which the bitcoins are being used, it is argued that this makes bitcoins unethical". 

In light of this statement discuss the following questions:

1. Do you regard the bitcoin system as pernicious, unethical of ‘evil’ as suggested by Paul Krugman? Do you think it is similar to the Ponzi scheme?

2. Do you think that bitcoins were created as a weapon intended to damage or disrupt central banking and money-issuing banks?  

(300-600 words)