Recently, Darren has become interested in cryptocurrency, such as Bitcoin and Ethereum. As most cryptocurrencies are subject to limited regulation, Darren believes this alternative investment is the new ‘wild west’. Before allocating wealth into cryptocurrencies, Darren asks you for a short essay to address several questions about Bitcoin.
Provide a brief introduction about how Bitcoin functions and the risks and benefits of holding and using Bitcoin. (Word limit: 500 words)
Should Bitcoin be considered as an investment or a type of money (currency)? (Word limit: 500 words)
What are governments’ attitude towards Bitcoin, such as legislation and taxation? Your dissertation should cover the considerations/perspectives of the Australian government, and at least another foreign government. (Word limit: 500 words)
Outline some of the challenges that Bitcoin has brought to financial institutions around the globe. How have financial institutions responded to this? How can the financial institutions respond to this going forward? (Word limit: 500 words)
Requirements
The marking of this section will be based on research quality and depth.
Students need to undertake comprehensive research using a number of available resources.
Each group needs to cite at least 10 scholarly references as evidence of their research. Exceeding 10 scholarly references would be more favourable. Failing to reach this minimum level will result in losing marks. Scholarly references include book chapters, articles published by mainstream media (paper press and/or their website resources), and peer- reviewed journal articles. Wikipedia or Investopedia CANNOT be used as academic reference.
Word limit: in-text citation will be counted; students can have +/- 10% leeway in the word limit of each question; failing to follow the word limit of each question will result in losing marks.