Question 1

Incentives for U.S. consumer adoption of bitcoin are quite high.

Accepted Answer

The incentives for U.S. consumer adoption of bitcoin are not universally high due to its volatility, lack of widespread acceptance for everyday transactions, regulatory uncertainties, and concerns over security and privacy.

Question 2

Those early customers for a disruptive technology are part of a different "___________________" than anything addressed by incumbent market leaders.

Accepted Answer

The answer of Those early customers for a disruptive technology...

Question 3

Individuals known as ____________ participate in verifying and maintaining transactions and are occasionally awarded for their efforts through the receipt of bitcoins.

Accepted Answer

The answer of Individuals known as ____________ participate in verifying...

Question 4

Disruptive technology is also called disruptive _____.

Accepted Answer

The answer of Disruptive technology is also called disruptive _____....

Question 5

List and briefly discuss current concerns that are limiting the adoption of bitcoin.
While international remittance customers and those otherwise left out of the banking and credit card system can see immediate benefit from bitcoin, most of the population isn't impacted by this market.
Bitcoin is tech that offers little benefit
Bitcoin also has a , since it is a currency favored by the online underworld and was created by a mysterious, unknown entity referred to as Satoshi Nakamoto.
also pose a problem. High profile hacks, such as the Mt. Gox breach, create a public perception that bitcoin is unsafe.
Government regulations also remain uncertain in many regions of the world.
The currency is highly volatile, fluctuating wildly in relation to major world currencies.
The initial bitcoin support network does not allow for anywhere near the transaction volume of competing systems like global credit card networks.

Accepted Answer

The answer of List and briefly discuss current concerns that...

Question 6

Like most open-source efforts, bitcoin was created by a consortium of for-profit corporations hoping to fuel adoption of a beneficial new standard.

Accepted Answer

Bitcoin was created by an individual or group under the pseudonym Satoshi Nakamoto, not by a consortium of for-profit corporations. Its creation was motivated by the desire to produce a decentralized digital currency, not to fuel adoption for corporate benefit.

Question 7

Bitcoin transactions are recorded in a public ledger known as the bitcoin wallet.

Accepted Answer

Bitcoin transactions are recorded in a public ledger known as the blockchain, not a bitcoin wallet. Wallets are used to store the private keys needed to access bitcoin addresses and send or receive bitcoins.

Question 8

Cross-border bank transfers are not likely to adopt bitcoin since these functions are already electronic and highly automated.

Accepted Answer

Cross-border bank transfers can benefit from adopting Bitcoin or other cryptocurrencies due to their potential for lower fees, faster transaction times, and reduced need for intermediaries, despite existing electronic and automated systems.

Question 9

Bitcoin transctions are recorded in a public ledger known as the ____________.

Accepted Answer

The answer of Bitcoin transctions are recorded in a public...

Question 10

As of 2017, bitcoin's highest daily transaction volume was approximately_____________.
a. 336
b. 36,000
c. 3.6 million
d. 336,000
e. none of the above

Accepted Answer

The answer of As of 2017, bitcoin's highest daily transaction...

Question 11

List the benefits of bitcoin along with possible markets for early adoption.

Accepted Answer

The answer of List the benefits of bitcoin along with...

Question 12

Why can't big firms simply wait until disruptive innovations prove themselves before they invest in these new areas?

Accepted Answer

The answer of Why can't big firms simply wait until...

Question 13

One way the package software firm, Intuit has approached the future and avoided disruptive innovation was to ______________.

Accepted Answer

The answer of One way the package software firm, Intuit...

Question 14

Facebook was famously late to the mobile revolution and felt forced to make billion and multi-billion purchases for __________________ and ___________________, even as SnapChat rises as a threatening rival.

Accepted Answer

The answer of Facebook was famously late to the mobile...

Question 15

Chips based on designs from the firm ___________________ dominate the market for smartphones, but they are not compatible with the most popular instruction set used in Intel's desktop and laptop chips. They do, however, draw far less power than Intel chips.

Accepted Answer

The answer of Chips based on designs from the firm...

Question 16

Getting rid of card companies cuts out ____________, which can top 3 percent. Overstock.com was one of the first large online retailers to accept bitcoin.

Accepted Answer

The answer of Getting rid of card companies cuts out...

Question 17

_____ is a right, but not the obligation to make an investment.

Accepted Answer

The answer of _____ is a right, but not the...

Question 18

Low-margin retailers are interested in bitcoin because it may allow the elimination of fees associated with credit card transactions.

Accepted Answer

Low-margin retailers are interested in bitcoin because it can potentially eliminate the high fees associated with credit card transactions, thereby improving their profit margins.

Quiz 6: Disruptive Technologies: Understanding the Giant Killers and Considerations for Avoiding Extinction