On October 31, 2008, someone posted a PDF to an encryption newsgroup. The post came from an account named Satoshi Nakamoto.
The PDF contained a text called “Bitcoin: A Peer-to-Peer Electronic Cash System” and described what we know today as Bitcoin—the biggest cryptocurrency in the word by market capitalization (about USD$110 billion as of today).
Here are ten things that lawyers should know about Bitcoin.
1. There are no physical Bitcoin coins or banknotes.
Bitcoin is modelled after physical coins and banknotes but it is purely digital. But! Most people still use a physical medium for accessing their bitcoin . . . [more]