2015/12/14 by Andrés Guadamuz, Christopher T. Marsden · 1 citation
Computer Science · Business, Management and Accounting · Social Sciences · Psychology · #Blockchain Technology Applications and Security #FinTech, Crowdfunding, Digital Finance #Crime, Illicit Activities, and Governance #Cryptocurrency #Virtual currency #Digital currency #Currency #Transformative learning #Perspective (graphical) #Business #Economics #Commerce #Computer security #Computer science #Monetary economics #Psychology
paper · doi:10.5210/fm.v20i12.6198
openalex publication_date 2015/12/14 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/15
This paper examines Bitcoin from a legal and regulatory perspective, answering several important questions.We begin by explaining what Bitcoin is, and why it matters. We describe problems with Bitcoin as a method of implementing a cryptocurrency. This introduction to cryptocurrencies allows us eventually to ask the inevitable question: is it legal? What are the regulatory responses to the currency? Can it be regulated?We make clear why virtual currencies are of interest, how self-regulation has failed, and what useful lessons can be learned. Finally, we produce useful and semi-permanent findings into the usefulness of virtual currencies in general, blockchains as a means of mining currency, and the profundity of Bitcoin as compared with the development of block chain technologies. We conclude that though Bitcoin may be the equivalent of Second Life a decade later, so blockchains may be the equivalent of Web 2.0 social networks, a truly transformative social technology.