Meet bitcoin, 2013’s biggest winner

See on Scoop.itten Hagen on Social Media

Adding 6200 percent, bitcoin was the biggest economic winner of 2013. However, a lot remains unclear about how the virtual currency works and is created. RT spoke to Robin Tiegland from the Stockholm School of Economics to shed a little light.

Laurens ten Hagen‘s insight:

On the one side, bitcoin is good because you can see all the transactions ever made with bitcoin online. And if the government tries to close down bitcoin or regulate it too hard, another currency will take its place, another form, probably less transparent. So you might drive things underground. So, I think, that governments will instead see what they can do in terms of tracking, in terms of legitimizing perhaps, some forms of softening regulations but not regulating it from the perspective of stopping it. Regulating from the perspective of making taxes on it, paying capital gains, but not being regulated by other financial instruments.

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