26 Feb '14, 6pm

Bitcoin Needs Better Oversight, But No One Agrees On The Details

The implosion of Mt. Gox , the world's largest Bitcoin exchange, has many cryptocurrency believers and government entities alike agreeing on one thing: The Bitcoin economy needs some kind of regulation to prevent fraud and rebuild trust with users. That's the easy part. Exactly what kind of regulation? That's the hard part. Don't expect an answer soon. See also: The Mt. Gox Implosion Is Bitcoin's First Financial Crisis Bitcoin's inventor (or inventors), known only by the pseudonym Satoshi Nakamoto, envisioned it as a purely peer-to-peer transactional currency . Instead of clearing transactions through banks, governments or other institutions, Bitcoin employed a technological innovation in ledger keeping, the blockchain, that would allow individuals to exchange bitcoins directly with one another while preventing double spending or fraud. But as the Bitcoin economy grew, suc...

Full article: http://readwrite.com/2014/02/26/bitcoin-regulation-mt-gox

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