Question

SUBJECT: CryptocurrenciesCryptocurrencies saw a huge increase in price between the beginning and end of

2017 due in large part to a speculative bubble. It can be useful to think of cryptocurrencies as foreign currencies. For the sake of this question, assume that all cryptocurrencies are converted to Bitcoin before being exchanged for domestic currencies (this means that you can think of “cyrptocurrencies” as a single type of foreign currency).

A.      What would happen to the price of cryptocurrencies if large retailers like Amazon, Walmart, and Alibaba begin to accept cryptocurrencies for payment? Why?

B.     Assume that before large retailers began to accept cryptocurrencies, they were being used mainly for nefarious activities. What do you think would happen to the real price of those nefarious activities after large retailers begin to accept cryptocurrencies?

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