Discussion 3 – fiat money discussion topic
*** Before completing this graded discussion, you should have a full understanding of the concepts below. If you don’t, please use the textbook and review them first.
- Money, Fiat Money, Central Bank, Money Supply, Functions of Money, Fractional Banking System, The Federal Reserve, Blockchain
Instructions and Steps:
1. Review the Ongoing Discussion Topic General Instructions > Select this link to Open
2. Access this introductory video on blockchain and cryptocurrencies.
TEDInstitute. (2017, September 22). Blockchain and the Middleman | TED Institute. [Video]. YouTube.
3. View the following 2 TED Talks (video presentations). As you watch the videos, take notes of any relevant information.
TED. (2016, September 16). How the blockchain is changing money and business | Don Tapscott. [Video]. YouTube.
4. Decide which of the 2 TED Talks (The future of money or How the blockchain is changing money and business) best responds to this question:
- Should we trust electronic currencies like bitcoin the way we trust government-issued money?
5. Produce a response (post) of a least 5 sentences in which you explain your position. Your post must be detailed and contain at least the following elements:
- It must state the title and the author of the chosen TED talk.
- It must state the reason why you believe the TED talk best answers the question.
- It must explicitly explain the relationship, connection, or link between the ideas provided in the TED Talk and the concept of Fiat Money.
6. Produce two responses (replies) addressing at least two other classmates. These replies may respond to questions made of your post or can critique a classmate’s response to the main question. Your replies must contain the following elements:
- It must explicitly state which of the 5 Intellectual Standards (Clarity, Accuracy, Precision, Relevance, and Logic) you are addressing.
- It must contain a question of a classmate’s response or it must be a response addressing questions made about your post.
Note that a single reply may both address a question and post a question.
For example, if in your opinion, the reason or rationale someone used to select one of the 3 videos was not clear, you can point that out by asking questions of Clarity, and by addressing what was unclear about the statement. An effective reply may look like this; Clarity and Precision can be improved. “when you wrote about _________, I was not sure if you meant _________ or ________. Can you say that in a different way? Can you be more specific?”.
To earn full credit, in this discussion, you are required to produce One (1) Post and Two (2) Replies to classmates AND reply to everyone who responds to your post. The goal is to have engaging conversations about this topic throughout the week. Your grade will be based on how Clear, Precise, Accurate, Relevant, and Logical your posts and replies are and how engaged you are throughout the week in the conversations. Each entry (a Post or a Reply) is weighted equally.
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