Economics.

Suppose that you have a significant amount of accumulated savings or other wealth, and you havedecided to put 20% of it into either gold or Bitcoin, as a long term “financial” investment. (This is onlya “financial” investment, because it will not add to the stock of capital.)
(a) What would be the relative advantages of each (gold vs. Bitcoin)?
(b) Taking your previous answer into consideration, which would you choose (gold or Bitcoin),and why? (There is no “correct” answer to this question. You will be graded on how well you defendwhichever answer you choose.)

 

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Suppose that you have just been elected to run a small country, which has destroyed the credibilityof its fiat money by uncontrolled printing and spending, which has led to hyperinflation, with pricesdoubling every day. Because no one wants to accept your country’s money, you have decided toestablish either the U.S. dollar or Bitcoin as the official national currency. (Ecuador, Zimbabwe, andsome Central American and island nations currently use the U.S. dollar as their official currency.)Choosing the U.S. dollar will obviously not give your government the right to print new U.S. dollars;only the U.S. government can do that.
(a) What would be the relative advantages of each (dollars vs. Bitcoin)?
(b) Taking your previous answer into consideration, which would you choose (dollars orBitcoin), and why? (There is no “correct” answer to this question. You will be graded on how well youdefend whichever answer you choose.)

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