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19 Tex. Rev. L. & Pol. 145 (2014-2015)
Online Currencies, Real-World Chaos: The Struggle to Regulate the Rise Bitcoin

handle is hein.journals/trlp19 and id is 157 raw text is: ONLINE CURRENCIES, REAL-WORLD CHAos: THE STRUGGLE TO REGULATE THE RISE OF BITCOIN By NIcoLAs WENKER* I. INTRODUCTION: THE EXPLOSION OF BITCOIN & BITCOIN REGULATION ........................................146 II. WHAT IS BITCOIN? THE SOFWARE AND HARDWARE DIMENSIONS......................................... 147 A. The Early Foundations of Cryptocurrencies...............147 B. Bitcoin's Mysterious Origins .............. .....150 C. The Bitcoin Software and Nakamoto's Breakthroughs ............................... 151 D. Consensus, Mining Power, and Hardware..................156 III. BITCoiN's FREE-MARKET INFLUENCES .............. ......159 A. The Roots of Bitcoin's Design....... ..... .....159 B. Non-fiat Cryptocurrencies as Anti-Inflationary...........162 IV. LEGAL ISSUES & THE NEW WAVE OF BITCOIN REGULATION_ 164 A. Bitcoin, Drugs, & Money Laundering............ 164 B. Protecting Bitcoin Investors & Consumers.................173 C. Bitcoin & Currency Regulation-Is Bitcoin Money or an Asset? ..................... 184 'J.D candidate for the class of 2015 at the University of Texas School of Law at Austin. Nicolas is the author of BITCOIN PANDEMONIUM: THE ONGOING ECONOMIC, PUnuic, AND LECAL DEBATE OVER THIE NATURE AND IMPACTF OF BITCOIN (2014), available at www.amazon.coim/dp/BOOM8MQ462. BITCOIN PANDEMONIUM is the first full-length book to have been published on the development of Bitcoin and Bitcoin regulation. This article is adapted from an abridged version of the book.

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