With the use of Bitcoin spreading rapidly, regulators are scrambling to study the digital currency. And while well-crafted regulation would grant Bitcoin much-needed legitimacy, too much would stifle its growth. Striking an ideal balance won't be easy,
but at least one regulator seems to be on the right track...
Ever since it popped onto the public's radar, Bitcoin has been unfairly saddled with a reputation for being little more than a high-tech tool for illegal activities. So when the BitInstant CEO got arrested for money laundering, the critics were crowing, "I told you so." But this incident is just one more distraction from
why Bitcoin is going to be such a huge deal...
It was almost laughably easy for the thieves who stole the data from Target's computers. That's how obsolete our credit card system of paying for goods and services has become. It's just one of several reasons we're going to see merchants rapidly adopt the digital currency Bitcoin this year.
Here's why Bitcoin is destined to replace credit cards...
You can use it to pay your way to the University of Nicosia in Cypress. You can even use it to buy a seat on a space flight aboard Richard Branson's Virgin Galactic. We're taking about Bitcoin, a digital currency once dismissed as a crazy Internet experiment best suited for buying illegal drugs on rogue Web sites.
But you won't believe the things you can buy with Bitcoin now...
By now you've probably heard of the digital currency Bitcoin, but it's not as new as you might think. Virtual currencies have been around for more than 20 years, and Bitcoin is far from the only example. Today there are more than ever - at least 80. And there's a good reason people keep coming back to the idea of virtual currencies -
other forms of money just aren't capable of this...
Just a few kind words from a handful of federal officials about the positive aspects of the Bitcoin market Monday afternoon were all it took to send the digital currency rocketing from $675 to $900 in a matter of hours.
While Bitcoin prices settled back down into the $600s by Tuesday morning, the significance of the Bitcoin market's reaction should not be dismissed.
What was said at Monday's Congressional hearing before the Senate Homeland Security and Government Affairs Committee marked a turning point in how the U.S. government views Bitcoin.
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When you look at the numbers, it's almost surreal. In just three weeks, the digital currency known as Bitcoin has more than tripled in value. For that you can thank the Chinese. Over the past month, the volume of Chinese Bitcoin buying has increased tenfold. And when you find out why they're buying,
You'll see that we're still in the early stages of this phenomenon...
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