A Too Convenient Transaction: Bitcoin and its Further Regulation

20 Wake Forest J. Bus. & Intell. Prop. L. 77

Bitcoin is the odd combination of a “currency” backed by no one
and an “investment” involved in nothing. Instead of representing an
innovative future of banking, bitcoin today seems like the first Ponzi
scheme in history where investors know about the scheme and still think
it wise to invest. Regardless of what bitcoin actually represents and the
future of virtual currencies, one thing is certain: further regulation is
necessary.