30 Jan '15, 2pm

Bitcoin is saved from irrelevance by good old-fashioned regulation

Bitcoin is saved from irrelevance by good old-fashioned regulation

Bitcoin’s ideological foe is becoming its saving grace. To many Bitcoin enthusiasts, the decentralized currency’s allure was that it was designed to exist beyond the reach of government regulation. Free from central banks, its value wasn’t tied to government policies or geopolitical factors. But now it seems the very regulation its creator or creators (since we don’t actually know who first minted Bitcoin) guarded against is what’s now buoying the cryptocurrency’s price. Share Tap image to zoom The arrival of regulated US Bitcoin exchanges, as well as impending plans to create a BitLicense in New York, have sent the price of Bitcoin up 30% in the past two weeks. Even the Federal Reserve alluded to Bitcoin in its report on the payment industry’s future , pledging to keep an eye on virtual currencies. It’s been a nice respite for Bitcoin believers after the virtual currency ...

Full article: http://qz.com/335539/bitcoin-is-saved-from-irrelevance-by...

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