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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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