26 Sep '15, 3pm

Bitcoin is now being regulated as a commodity

Bitcoin is now being regulated as a commodity

Thomson Reuters An illustration photo shows a Bitcoin (virtual currency) paper wallet with QR codes and a coin. The commodities markets are some of the oldest trading markets in the world. The basic idea of trading wholesale goods between parties is as old as commerce itself. Recently though, the commodities markets did something very unusual – they added a new commodity; Bitcoin . Bitcoin is an electronic pseudo-currency that is independent of any state or country. The currency is created by computers solving complex math problems with currency released slowly over time. The basic idea behind Bitcoin is that the currency is free from the interference of any government or central bank. Because the amount of the currency in circulation cannot be controlled by central banks, its value is independent of inflation. One might suppose that would make Bitcoin more stable as a for...

Full article: http://uk.businessinsider.com/bitcoin-regulated-as-a-comm...

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