|
Pada bulan Agustus 2018, [[Bank of Thailand]] mengumumkan rencananya untuk membuat cryptocurrency sendiri, Mata Uang Digital Bank Sentral (CBDC)<ref>{{Cite news|url=http://www.atimes.com/article/bank-of-thailand-to-launch-its-own-crypto-currency/amp/?__twitter_impression=true|title=Bank of Thailand to launch its own crypto-currency|last=Thompson|first=Luke|date=24 August 2018|work=Asia Times|access-date=27 August 2018|archive-url=https://web.archive.org/web/20180827142601/http://www.atimes.com/article/bank-of-thailand-to-launch-its-own-crypto-currency/amp/?__twitter_impression=true|archive-date=27 August 2018|dead-url=no}}</ref><br />
=== AdvertisingLarangan bansIklan ===
Bitcoin anddan otheriklan cryptocurrency advertisementslainnya weresementara temporarilywaktu banneddilarang ondi [[Facebook]],<ref name="wiredface">{{cite news|last1=Matsakis|first1=Louise|title=Cryptocurrency scams are just straight-up trolling at this point|url=https://www.wired.com/story/cryptocurrency-scams-ico-trolling/|accessdate=2 April 2018|work=[[Wired (magazine)|Wired]]|date=30 January 2018|archive-url=https://web.archive.org/web/20180401171434/https://www.wired.com/story/cryptocurrency-scams-ico-trolling/|archive-date=1 April 2018|dead-url=no}}</ref> [[Google]], [[Twitter]],<ref name="ToISW">{{cite news|last1=Weinglass|first1=Simona|title=European Union bans binary options, strictly regulates CFDs|url=https://www.timesofisrael.com/european-union-bans-binary-options-strictly-regulates-cfds/|accessdate=2 April 2018|work=[[The Times of Israel]]|date=28 March 2018|archive-url=https://web.archive.org/web/20180401084746/https://www.timesofisrael.com/european-union-bans-binary-options-strictly-regulates-cfds/|archive-date=1 April 2018|dead-url=no}}</ref> [[Bing (search engine)|Bing]],<ref name="bing51418">{{cite web|url=https://advertise.bingads.microsoft.com/en-us/blog/post/may-2018/bing-ads-to-disallow-cryptocurrency-advertising?feed=blogposts|title=Bing Ads to disallow cryptocurrency advertising|last1=Alsoszatai-Petheo|first1=Melissa|date=14 May 2018|publisher=Microsoft|archive-url=https://web.archive.org/web/20180517152920/https://advertise.bingads.microsoft.com/en-us/blog/post/may-2018/bing-ads-to-disallow-cryptocurrency-advertising?feed=blogposts|archive-date=17 May 2018|dead-url=no|accessdate=16 May 2018}}</ref> [[Snapchat]], [[LinkedIn]] anddan [[MailChimp]].<ref name="3key">{{cite news|last1=French|first1=Jordan|title=3 Key Factors Behind Bitcoin's Current Slide|url=https://www.thestreet.com/story/14541510/1/whats-behind-bitcoin-price-slump.html|accessdate=2 April 2018|publisher=theStreet.com|date=2 April 2018|ref='|archive-url=https://web.archive.org/web/20180403051718/https://www.thestreet.com/story/14541510/1/whats-behind-bitcoin-price-slump.html|archive-date=3 April 2018|dead-url=no}}</ref> ChinesePlatform internet platformsChina [[Baidu]], [[Tencent]], anddan [[WeiboWeibojuga (company)|Weibo]]telah havemelarang also prohibitediklan bitcoin advertisements. Platform TheJepang Japanese platform [[Line Corporation|Line]]dan andplatform the Russian platformRusia [[Yandex]] havememiliki similarlarangan prohibitions.<ref>{{cite news|last1=Wilson|first1=Thomas|title=Twitter and LinkedIn ban cryptocurrency adverts – leaving regulators behind|url=https://www.independent.co.uk/news/business/analysis-and-features/twitter-ban-cryptocurrency-adverts-regulators-bitcoin-facebook-social-media-a8277176.html|accessdate=3 April 2018|agency=[[Reuters]]|publisher=Independent|date=28 March 2018|archive-url=https://web.archive.org/web/20180404074502/https://www.independent.co.uk/news/business/analysis-and-features/twitter-ban-cryptocurrency-adverts-regulators-bitcoin-facebook-social-media-a8277176.html|archive-date=4 April 2018|dead-url=no}}</ref>serupa
=== U.S.Status taxPajak statusdi Amerika ===
OnPada 25 MarchMaret 2014, the United States [[Internal Revenue Service]] (IRS) ruledmemutuskan thatbahwa bitcoin willakan bediperlakukan treatedsebagai as propertyproperti foruntuk taxkeperluan purposespajak. ThisIni meansberarti bitcoin willakan bedikenakan subjectpajak to [[capital gains tax]]gain..<ref name="taxstatus">{{cite news|last1=Rushe|first1=Dominic|title=Bitcoin to be treated as property instead of currency by IRS|url=https://www.theguardian.com/technology/2014/mar/25/bitcoin-property-currency-irs-rules|accessdate=8 February 2018|work=The Guardian|date=25 March 2014|deadurl=no|archiveurl=https://web.archive.org/web/20160601151330/https://www.theguardian.com/technology/2014/mar/25/bitcoin-property-currency-irs-rules|archivedate=1 June 2016|df=}}</ref> InDalam asebuah papermakalah publishedyang byditerbitkan oleh para researcherspeneliti fromdari Oxford anddan Warwick, itditunjukkan was shown thatbahwa bitcoin hasmemiliki somebeberapa characteristicskarakteristik morelebih likeseperti thepasar preciouslogam metalsmulia marketdaripada thanmata traditionaluang currenciestradisional, hencemaka indalam agreementperjanjian withdengan thekeputusan IRS decisionbahkan evenjika ifdidasarkan basedpada onalasan differentyang reasons.berbeda<ref>[https://arxiv.org/pdf/1411.1924.pdf On the Complexity and Behaviour of Cryptocurrencies Compared to Other Markets] {{webarchive|url=https://web.archive.org/web/20170508200903/https://arxiv.org/pdf/1411.1924.pdf|date=8 May 2017}}, 7 November 2014</ref>
=== Kekhawatiran hukum dari ekonomi global yang tidak diatur ===
=== The legal concern of an unregulated global economy ===
AsKarena thepopularitas popularitydan ofpermintaan andmata demand foruang online currenciestelah hasmeningkat increasedsejak sinceawal thebitcoin inceptionpada of bitcoin intahun 2009,,<ref>{{Cite journal|last=Iwamura|first=Mitsuru|last2=Kitamura|first2=Yukinobu|last3=Matsumoto|first3=Tsutomu|date=28 February 2014|title=Is Bitcoin the Only Cryptocurrency in the Town? Economics of Cryptocurrency and Friedrich A. Hayek|doi=10.2139/ssrn.2405790|ssrn=2405790|hdl=10086/26493}}</ref> sodemikian havejuga concernsada thatkekhawatiran suchbahwa anorang unregulatedyang persontidak todiatur personsecara globalekonomi economyekonomi thatglobal cryptocurrenciesyang offerditawarkan maycryptocurrency becomedapat amenjadi threatancaman tobagi societymasyarakat. ConcernsKekhawatiran aboundberlimpah thatbahwa altcoinsaltcoin maydapat becomemenjadi toolsalat forbagi anonymouspenjahat web criminalsKebanyakan.<ref name=":1">ALI, S, T; CLARKE, D; MCCORRY, P; Bitcoin: Perils of an Unregulated Global P2P Currency [By S. T Ali, D. Clarke, P. McCorry Newcastle upon Tyne: Newcastle University: Computing Science, 2015. (Newcastle University, Computing Science, Technical Report Series, No. CS-TR-1470)</ref>
Jaringan Cryptocurrency menunjukkan kurangnya peraturan yang telah dikritik sebagai memungkinkan penjahat yang berusaha menghindari pajak dan pencucian uang.
Cryptocurrency networks display a lack of regulation that has been criticized as enabling criminals who seek to evade taxes and [[Money laundering|launder money]].
Transaksi yang terjadi melalui penggunaan dan pertukaran altcoin ini independen dari sistem perbankan formal, dan karenanya dapat membuat penghindaran pajak lebih mudah bagi individu. Karena memetakan penghasilan kena pajak didasarkan pada apa yang dilaporkan penerima ke layanan pendapatan, menjadi sangat sulit untuk memperhitungkan transaksi yang dilakukan dengan menggunakan cryptocurrency yang ada, suatu mode pertukaran yang rumit dan sulit dilacak.<ref name=":1" />
Transactions that occur through the use and exchange of these altcoins are independent from formal banking systems, and therefore can make tax evasion simpler for individuals. Since charting taxable income is based upon what a recipient reports to the revenue service, it becomes extremely difficult to account for transactions made using existing cryptocurrencies, a mode of exchange that is complex and difficult to track.<ref name=":1" />
Sistem anonimitas yang ditawarkan sebagian besar cryptocurrency juga dapat berfungsi sebagai cara yang lebih sederhana untuk mencuci uang. Daripada mencuci uang melalui jaring yang rumit dari aktor keuangan dan rekening bank luar negeri, mencuci uang melalui altcoin dapat dicapai melalui transaksi.<ref name=":1" />
Systems of anonymity that most cryptocurrencies offer can also serve as a simpler means to launder money. Rather than laundering money through an intricate net of financial actors and offshore bank accounts, laundering money through altcoins can be achieved through anonymous transactions.<ref name=":1" />
=== LossKehilangan, theftPencurian, anddan fraudPenipuan ===
{{Main|CryptocurrencyPada andbulan security}}In FebruaryFebruari 2014, thepertukaran world'sbitcoin largestterbesar bitcoindi exchangedunia, [[Mt. Gox]], declareddinyatakan [[bankruptcy]]bangkrut. ThePerusahaan companymenyatakan statedbahwa thatmereka ittelah hadkehilangan lost nearlyhampir $ 473 millionjuta ofdari their customers' bitcoinsbitcoin likelypelanggan duemereka tokarena theftpencurian. ThisIni wassetara equivalentdengan to approximatelysekitar 750,.000 bitcoinsbitcoin, oratau aboutsekitar 7% ofdari allsemua thebitcoin bitcoinsyang in existenceada. The price of aHarga bitcoin fellturun fromdari atertinggi highsekitar of$ about $1,.160 indi Decemberbulan toDesember undermenjadi di bawah $ 400 indi bulan FebruaryFebruari.<ref>[https://www.bloomberg.com/news/2014-02-28/mt-gox-exchange-files-for-bankruptcy.html Mt. Gox Seeks Bankruptcy After $480 Million Bitcoin Loss] {{webarchive|url=https://web.archive.org/web/20150112234804/http://www.bloomberg.com/news/2014-02-28/mt-gox-exchange-files-for-bankruptcy.html|date=12 January 2015}}, Carter Dougherty and Grace Huang, Bloomberg News, 28 February 2014</ref>
TwoDua membersanggota ofGugus theTugas SilkJalur RoadSutra Task— Force—asatuan multi-agencytugas federal taskmulti-lembaga forceyang thatmelakukan carriedinvestigasi out the UA.S. investigationterhadap ofJalan [[SilkSutra Road— (marketplace)|Silkmengambil Road]]—seizedbitcoin bitcoins for their own use inuntuk thedigunakan coursesendiri ofdalam theproses investigationpenyelidikan.<ref name="Jeong">Sarah Jeong, [https://motherboard.vice.com/en_us/article/8q845p/dea-agent-who-faked-a-murder-and-took-bitcoins-from-silk-road-explains-himself DEA Agent Who Faked a Murder and Took Bitcoins from Silk Road Explains Himself] {{webarchive|url=https://web.archive.org/web/20171229113002/https://motherboard.vice.com/en_us/article/8q845p/dea-agent-who-faked-a-murder-and-took-bitcoins-from-silk-road-explains-himself|date=29 December 2017}}, ''Motherboard'', Vice (25 October 2015).</ref>Agent [[Drug Enforcement Administration|DEA]] agent Carl Mark Force IV, whoyang attemptedberusaha tomemeras extortpendiri Silk Road, founder [[Ross Ulbricht]] ("Dread Pirate Roberts"), pleadedmengaku guiltybersalah toatas pencucian uang, menghalangi keadilan, dan pemerasan dengan warna hak resmi, dan dijatuhi hukuman 6,5 tahun di federal. penjara. Agen Layanan Rahasia AS Shaun Bridges mengaku bersalah atas kejahatan yang berkaitan dengan pengalihan bitcoin senilai $ 800.000 ke akun pribadinya selama penyelidikan, dan juga secara terpisah mengaku bersalah atas pencucian uang sehubungan dengan pencurian mata uang kripto; dia dijatuhi hukuman hampir delapan tahun di penjara federal.
== SeePasar alsoDarknet ==
Properti cryptocurrency memberi mereka popularitas dalam aplikasi seperti tempat berlindung yang aman dalam krisis perbankan dan alat pembayaran, yang juga menyebabkan penggunaan cryptocurrency dalam pengaturan kontroversial dalam bentuk pasar gelap online, seperti Silk Road..<ref name=":1" /> Jalur Sutra yang asli ditutup pada Oktober 2013 dan ada dua versi lagi yang digunakan sejak saat itu. Pada tahun setelah penutupan Silk Road awal, jumlah pasar gelap yang menonjol meningkat dari empat menjadi dua belas, sementara jumlah daftar obat-obatan meningkat dari 18.000 menjadi 32.000.<ref name=":1" />
{{Portal|Information technology|Business and economics|Cryptocurrency}}
Pasar Darknet markets present challengesmenghadirkan intantangan regarddalam tohal legalitylegalitas. BitcoinsBitcoin anddan other forms ofbentuk cryptocurrency usedlain inyang darkdigunakan marketsdi arepasar notgelap clearlytidak orjelas legallyatau classifiedsecara inhukum almostdiklasifikasikan alldi partshampir ofsemua thebagian worlddunia. InDi the UA.S., bitcoinsbitcoin arediberi labelledlabel assebagai " aset virtual assets". ThisJenis typeklasifikasi ofyang ambiguousambigu classificationini putsmemberikan pressuretekanan onpada lawlembaga enforcementpenegak agencieshukum arounddi theseluruh worlddunia tountuk adaptberadaptasi todengan theperdagangan shiftingobat-obatan drugterlarang tradedi ofpasar dark markets.gelap<ref name=":2">{{Cite journal|last=Raeesi|first=Reza|date=23 April 2015|title=The Silk Road, Bitcoins and the Global Prohibition Regime on the International Trade in Illicit Drugs: Can this Storm Be Weathered?|url=http://gjis.journals.yorku.ca/index.php/gjis/article/view/38935|deadurl=no|journal=Glendon Journal of International Studies / Revue d'Études Internationales de Glendon|volume=8|issue=1–2|issn=2291-3920|archiveurl=https://web.archive.org/web/20151222084405/http://gjis.journals.yorku.ca/index.php/gjis/article/view/38935|archivedate=22 December 2015|df=}}</ref> ▼
* [[2018 crypto crash]]
* [[Crypto-anarchism]]
* [[Cryptocurrency bubble]]
* [[Cryptocurrency exchange]]
* [[Cryptographic protocol]]
* [[List of cryptocurrencies]]
* [[Virtual currency law in the United States]]
== Penerimaan ==
money laundering, [[obstruction of justice]], and extortion under color of official right, and was sentenced to 6.5 years in federal prison.<ref name="Jeong" /> [[United States Secret Service|U.S. Secret Service]] agent Shaun Bridges pleaded guilty to crimes relating to his diversion of $800,000 worth of bitcoins to his personal account during the investigation, and also separately pleaded guilty to money laundering in connection with another cryptocurrency theft; he was sentenced to nearly eight years in federal prison.<ref>Nate Raymond, [https://www.reuters.com/article/us-usa-cyber-silkroad/ex-agent-in-silk-road-probe-gets-more-prison-time-for-bitcoin-theft-idUSKBN1D804H Ex-agent in Silk Road probe gets more prison time for bitcoin theft] {{webarchive|url=https://web.archive.org/web/20171229112652/https://www.reuters.com/article/us-usa-cyber-silkroad/ex-agent-in-silk-road-probe-gets-more-prison-time-for-bitcoin-theft-idUSKBN1D804H|date=29 December 2017}}, Reuters (7 November 2017).</ref>
CryptocurrenciesCryptocurrency havetelah beendibandingkan compareddengan toskema [[Ponzi schemes]], [[Pyramidskema scheme|pyramid schemes]]piramida<ref>{{cite web|url=https://qz.com/1217460/cryptocurrency-is-a-giant-multi-level-marketing-scheme/|title=Cryptocurrency is a giant multi-level marketing scheme|last1=Polgar|first1=David|website=Quartz|publisher=Quartz Media LLC|archive-url=https://web.archive.org/web/20180301150230/https://qz.com/1217460/cryptocurrency-is-a-giant-multi-level-marketing-scheme/|archive-date=1 March 2018|dead-url=no|accessdate=2 March 2018}}</ref> anddan [[Economic bubble|economic bubbles ]],<ref>[https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3090405 Analysis of Cryptocurrency Bubbles] {{webarchive|url=https://web.archive.org/web/20180124144431/https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3090405|date=24 January 2018}}. ''Bitcoins and Bank Runs: Analysis of Market Imperfections and Investor Hysterics.'' Social Science Research Network (SSRN). Retrieved 24 December 2017.</ref> suchseperti as [[Housing market bubble|housing market bubbles ]].<ref>{{citation|url=https://www.ft.com/content/1877c388-8797-11e5-90de-f44762bf9896|title=Bitcoin's place in the long history of pyramid schemes|first=Dan|last=McCrum|date=10 November 2015|work=Financial Times|deadurl=no|archiveurl=https://web.archive.org/web/20170323054631/https://www.ft.com/content/1877c388-8797-11e5-90de-f44762bf9896|archivedate=23 March 2017|df=}}</ref> [[Howard Marks (investor)|Howarddari Marks]] of [[Oaktree Capital Management ]] statedmenyatakan inpada tahun 2017 thatbahwa digitalmata currenciesuang weredigital " nothinghanyalah butiseng-iseng anyang unfoundedtidak fadberdasar ( oratau perhapsmungkin evenbahkan askema pyramid schemepiramida), basedberdasarkan onpada akesediaan willingnessuntuk tomenganggap ascribenilai valuesesuatu toyang somethingmemiliki thatsedikit hasatau littletidak orada noneyang beyondmelebihi whatapa peopleyang willakan paydibayar fororang ituntuk itu" , anddan comparedmembandingkannya themdengan to the [[tulip mania ]] (1637), [[South Sea Bubble ]] (1720), anddan [[dot-com bubble ]] (1999) (1999).<ref>{{citation|url=https://www.cnbc.com/2017/07/26/billionaire-investor-marks-who-called-the-dotcom-bubble-says-bitcoin-is-a-pyramid-scheme.html|title=Billionaire investor Marks, who called the dotcom bubble, says bitcoin is a 'pyramid scheme'|first=Tae|last=Kim|date=27 July 2017|publisher=CNBC|deadurl=no|archiveurl=https://web.archive.org/web/20170905042046/https://www.cnbc.com/2017/07/26/billionaire-investor-marks-who-called-the-dotcom-bubble-says-bitcoin-is-a-pyramid-scheme.html|archivedate=5 September 2017|df=}}</ref> ▼
WhileSementara cryptocurrenciescryptocurrency areadalah digitalmata currenciesuang thatdigital areyang manageddikelola throughmelalui advancedteknik encryptionenkripsi techniquescanggih, manybanyak governmentspemerintah havetelah takenmengambil apendekatan cautiousyang approachhati-hati towardterhadap themmereka, fearingtakut theirkurangnya lackkontrol ofpusat centraldan controlefek andyang thedapat effectsmereka theymiliki could have onterhadap financialkeamanan securityfinansial.<ref>[http://www.meetup.com/BitcoinDC/events/176047462/?oc=evam Cryptocurrency and Global Financial Security Panel at Georgetown Diplomacy Conf] {{webarchive|url=https://web.archive.org/web/20140815121121/http://www.meetup.com/BitcoinDC/events/176047462/?oc=evam|date=15 August 2014}}, MeetUp, 11 April 2014</ref> RegulatorsRegulator indi severalbeberapa countriesnegara havetelah warnedmemperingatkan againstterhadap cryptocurrency anddan somebeberapa havetelah takenmengambil concretelangkah-langkah regulatorypengaturan measureskonkret tountuk dissuademenghalangi userspengguna.<ref>{{cite web|url=https://www.bloomberg.com/news/2013-12-17/bitcoin-rules-drafted-in-denmark-as-regulator-warns-against-use.html|title=Bitcoins Spark Regulatory Crackdown as Denmark Drafts Rules|last=Schwartzkopff|first=Frances|date=17 December 2013|publisher=Bloomberg|archiveurl=https://web.archive.org/web/20131229064125/http://www.bloomberg.com/news/2013-12-17/bitcoin-rules-drafted-in-denmark-as-regulator-warns-against-use.html|archivedate=29 December 2013|deadurl=no|accessdate=29 December 2013|df=}}</ref> AdditionallySelain itu, manybanyak banksbank dotidak notmenawarkan offerlayanan servicesuntuk forcryptocurrency cryptocurrenciesdan anddapat canmenolak refuseuntuk tomenawarkan offerlayanan serviceskepada toperusahaan mata uang virtual -currency companies.<ref>{{cite web|url=https://www.wsj.com/news/articles/SB10001424052702304202204579252850121034702|title=Banks Mostly Avoid Providing Bitcoin Services. Lenders Don't Share Investors' Enthusiasm for the Virtual-Currency Craze|last=Sidel|first=Robin|date=22 December 2013|work=The Wall Street Journal|archiveurl=https://web.archive.org/web/20151119021729/http://www.wsj.com/news/articles/SB10001424052702304202204579252850121034702|archivedate=19 November 2015|deadurl=no|accessdate=29 December 2013|df=}}</ref> Gareth Murphy, aseorang seniorpejabat centralbank bankingsentral officersenior hastelah statedmenyatakan " widespreadpenggunaan useluas [ of cryptocurrency] wouldjuga alsoakan makemembuat itlebih moresulit difficultbagi forlembaga statisticalstatistik agenciesuntuk to gathermengumpulkan data ontentang economickegiatan activityekonomi, whichyang aredigunakan usedoleh bypemerintah governmentsuntuk tomengarahkan steer the economyekonomi". HeDia cautionedmengingatkan thatbahwa virtualmata currenciesuang posevirtual amenimbulkan newtantangan challengebaru tobagi centralkendali banks'bank controlsentral overatas thefungsi importantpenting functionskebijakan ofmoneter monetarydan andnilai exchange rate policytukar..<ref>[http://www.rte.ie/news/business/2014/0703/628309-bitfin-conference/ decentralized currencies impact on central banks] {{webarchive|url=https://web.archive.org/web/20160304081304/http://www.rte.ie/news/business/2014/0703/628309-bitfin-conference/|date=4 March 2016}}, RTÉ News, 3 April 2014</ref> WhileSementara traditionalproduk financialkeuangan productstradisional havememiliki strongperlindungan consumerkonsumen protectionsyang in placekuat, theretidak isada noperantara intermediarydengan withkekuatan theuntuk powermembatasi tokerugian limitkonsumen consumerjika losses if bitcoins arebitcoin losthilang oratau stolendicuri.<ref>[https://www.forbes.com/sites/timothylee/2013/04/03/four-reason-you-shouldnt-buy-bitcoins/ Four Reasons You Shouldn't Buy Bitcoins] {{webarchive|url=https://web.archive.org/web/20170823075106/https://www.forbes.com/sites/timothylee/2013/04/03/four-reason-you-shouldnt-buy-bitcoins/|date=23 August 2017}}, Forbes, 3 April 2013</ref> OneSalah ofsatu thefitur featuresyang cryptocurrencytidak lacksdimiliki incryptocurrency comparisondibandingkan todengan creditkartu cardskredit, for examplemisalnya, isadalah consumerperlindungan protectionkonsumen againstterhadap fraudpenipuan, suchseperti astolak [[Chargeback|chargebacks]]bayar. ▼Homero Josh Garza, who founded the cryptocurrency startups GAW Miners and ZenMiner in 2014, acknowledged in a [[plea agreement]] that the companies were part of a [[pyramid scheme]], and pleaded guilty to [[wire fraud]] in 2015. The U.S. [[Securities and Exchange Commission]] separately brought a civil enforcement action against Garza, who was eventually ordered to pay a judgment of $9.1 million plus $700,000 in interest. The SEC's complaint stated that Garza, through his companies, had fraudulently sold "investment contracts representing shares in the profits they claimed would be generated" from mining.<ref>Cyris Farivar, [https://arstechnica.com/tech-policy/2017/10/bitcoin-fraudster-hit-with-9-1m-civil-judgment-on-top-of-criminal-guilty-plea/ GAW Miners founder owes nearly $10 million to SEC over Bitcoin fraud] {{webarchive|url=https://web.archive.org/web/20171229112405/https://arstechnica.com/tech-policy/2017/10/bitcoin-fraudster-hit-with-9-1m-civil-judgment-on-top-of-criminal-guilty-plea/|date=29 December 2017}}, ''Ars Technica'' (5 October 2017).</ref>
AnSejumlah enormousbesar amountenergi ofmasuk energyke goesdalam into [[proof-of-work]]penambangan cryptocurrency mining,yang althoughterbukti cryptocurrencybekerja, proponentsmeskipun claimpara itpendukung is important tocryptocurrency comparemengklaim itbahwa topenting theuntuk consumptionmembandingkannya ofdengan thekonsumsi traditionalsistem financialkeuangan systemtradisional.<ref>[http://letstalkbitcoin.com/experiments-in-cryptocurrency-sustainability/ Experiments in Cryptocurrency Sustainability] {{webarchive|url=https://web.archive.org/web/20140311220151/http://letstalkbitcoin.com/experiments-in-cryptocurrency-sustainability/|date=11 March 2014}}, Let's Talk Bitcoin, March 2014</ref> ▼On 21 November 2017, the [[Tether (cryptocurrency)|Tether cryptocurrency]] announced they were hacked, losing $31 million in USDT from their primary wallet.<ref>{{Cite news|url=https://techcrunch.com/2017/11/20/tether-claims-a-hacker-stole-31m/|title=Tether, a startup that works with bitcoin exchanges, claims a hacker stole $31M|last=Russell|first=Jon|work=TechCrunch|access-date=22 November 2017|deadurl=no|archiveurl=https://web.archive.org/web/20171121105158/https://techcrunch.com/2017/11/20/tether-claims-a-hacker-stole-31m/|archivedate=21 November 2017|df=}}</ref> The company has 'tagged' the stolen currency, hoping to 'lock' them in the hacker's wallet (making them unspendable). Tether indicates that it is building a new core for its primary wallet in response to the attack in order to prevent the stolen coins from being used.
ThereAda arejuga alsoelemen purelyteknis technicalmurni elementsuntuk to considerdipertimbangkan. ForSebagai examplecontoh, technologicalkemajuan advancementteknologi indalam cryptocurrenciescryptocurrency such asseperti bitcoin resultmenghasilkan inbiaya highdi up-frontmuka costsyang totinggi minersuntuk inpara thepenambang formdalam ofbentuk specializedperangkat [[Computer hardware|hardware]]keras anddan [[software]].<ref>[http://theweek.com/article/index/242753/want-to-make-money-off-bitcoin-mining-hint-dont-mine Want to make money off Bitcoin mining? Hint: Don't mine] {{webarchive|url=https://web.archive.org/web/20140505181855/http://theweek.com/article/index/242753/want-to-make-money-off-bitcoin-mining-hint-dont-mine|date=5 May 2014}}, ''The Week'', 15 April 2013</ref> Transaksi Cryptocurrency transactionsbiasanya aretidak normallydapat irreversiblediubah aftersetelah asejumlah numberblok ofmengkonfirmasi blockstransaksi. confirmSelain theitu, transaction.kunci Additionally,privat cryptocurrency privatedapat keyshilang cansecara bepermanen permanentlydari lostpenyimpanan fromlokal local storage due tokarena malware, kehilangan data , lossatau orkehancuran themedia destruction of the physical mediafisik. ThisIni prevents themencegah cryptocurrency from being spentdibelanjakan, resulting in its effectivemenghasilkan removalpenghapusan fromefektif thedari marketspasar.<ref>[http://c4ss.org/content/25638 Keeping Your Cryptocurrency Safe] {{webarchive|url=https://web.archive.org/web/20140712235229/http://c4ss.org/content/25638|date=12 July 2014}}, Center for a Stateless Society, 1 April 2014</ref> ▼In May 2018, [[Bitcoin Gold]] (and two other cryptocurrencies) were hit by a successful 51% hashing attack by an unknown actor, in which exchanges lost estimated $18m.{{cn|date=May 2019}} In June 2018, Korean exchange [[Coinrail hack|Coinrail was hacked]], losing US$37 million worth of altcoin. Fear surrounding the hack was blamed for a $42 billion cryptocurrency market selloff.<ref>{{citation|authors=Eric Lam, Jiyeun Lee, and Jordan Robertson|title=Cryptocurrencies Lose $42 Billion After South Korean Bourse Hack|date=10 June 2018|url=https://www.bloomberg.com/news/articles/2018-06-10/bitcoin-tumbles-most-in-two-weeks-amid-south-korea-exchange-hack|publisher=[[Bloomberg News]]|access-date=12 June 2018|archive-url=https://web.archive.org/web/20180612005144/https://www.bloomberg.com/news/articles/2018-06-10/bitcoin-tumbles-most-in-two-weeks-amid-south-korea-exchange-hack|archive-date=12 June 2018|dead-url=no}}</ref> On 9 July 2018 the exchange Bancor had $23.5 million in cryptocurrency stolen.<ref name="Bancorhack">{{cite news|last1=Roberts|first1=Jeff John|title=Another Crypto Fail: Hackers Steal $23.5 Million from Token Service Bancor|url=http://fortune.com/2018/07/09/bancor-hack/|accessdate=10 July 2018|work=Fortune|date=9 July 2018|archive-url=https://web.archive.org/web/20180710013104/http://fortune.com/2018/07/09/bancor-hack/|archive-date=10 July 2018|dead-url=no}}</ref>
TheKomunitas cryptocurrency communitymengacu referspada to prepra- miningpenambangan, hiddenpeluncuran launchestersembunyi, [[InitialICO coinatau offering|ICO]]hadiah orekstrem extremeuntuk rewardspara for thependiri altcoin founders as asebagai deceptivepraktik practicepenipuan.<ref>{{cite web|url=http://altcoins.com/scamcoins|title=Scamcoins|date=August 2013|archiveurl=https://web.archive.org/web/20140201051133/http://altcoins.com/scamcoins|archivedate=1 February 2014|deadurl=no|df=}}</ref> ItIni canjuga alsodapat bedigunakan usedsebagai asbagian anyang inherenttidak partterpisahkan ofdari adesain cryptocurrency 's design.<ref>{{cite news|title=Bitcoin's successors: from Litecoin to Freicoin and onwards|last=Bradbury|first=Danny|work=The Guardian|date=25 June 2013|url=https://www.theguardian.com/technology/2013/jun/25/bitcoin-successors-litecoin-freicoin|accessdate=11 January 2014|deadurl=no|archiveurl=https://web.archive.org/web/20140110172029/http://www.theguardian.com/technology/2013/jun/25/bitcoin-successors-litecoin-freicoin|archivedate=10 January 2014|df=}}</ref> PrePra- miningpenambangan meansberarti currencymata isuang generateddihasilkan byoleh thepara currency'spendiri foundersmata prioruang tosebelum beingdirilis releasedke to the public.publik<ref>{{cite news|title=Beyond bitcoin: Inside the cryptocurrency ecosystem|last=Morris|first=David Z|work=Fortune|date=24 December 2013|url=http://fortune.com/2013/12/24/beyond-bitcoin-inside-the-cryptocurrency-ecosystem/|accessdate=27 January 2018|deadurl=no|archiveurl=https://web.archive.org/web/20180127202338/http://fortune.com/2013/12/24/beyond-bitcoin-inside-the-cryptocurrency-ecosystem/|archivedate=27 January 2018|df=}}</ref> ▼The French regulator [[Autorité des marchés financiers (France)|Autorité des marchés financiers]] (AMF) lists 15 websites of companies that solicit investment in cryptocurrency without being authorised to do so in France.<ref>{{cite web|url=http://www.amf-france.org/en_US/Actualites/Communiques-de-presse/AMF/annee-2018?docId=workspace%3A%2F%2FSpacesStore%2F3f85fe88-fc1f-45b8-a55e-0bc5aeb298ce|title=News releases AMF: 2018|date=15 March 2018|website=The Autorité des marchés financiers (AMF)|archive-url=https://web.archive.org/web/20180511013141/http://www.amf-france.org/en_US/Actualites/Communiques-de-presse/AMF/annee-2018?docId=workspace%3A%2F%2FSpacesStore%2F3f85fe88-fc1f-45b8-a55e-0bc5aeb298ce|archive-date=11 May 2018|dead-url=no|accessdate=10 May 2018}}</ref>
[[Paul Krugman]], [[Nobelpemenang MemorialHadiah PrizeNobel indalam EconomicIlmu Sciences]]Ekonomi winnertidak does not likemenyukai bitcoin, hastelah repeatedberulang numerouskali timesmengulangi thatbahwa ititu isadalah agelembung bubbleyang thattidak willakan notbertahan last<ref>{{cite web|url=http://www.businessinsider.com/paul-krugman-says-bitcoin-is-a-bubble-2017-12|title=PAUL KRUGMAN: Bitcoin is a more obvious bubble than housing was|archive-url=https://web.archive.org/web/20180317102110/http://www.businessinsider.com/paul-krugman-says-bitcoin-is-a-bubble-2017-12|archive-date=17 March 2018|dead-url=no|access-date=16 March 2018}}</ref> anddan linksmenghubungkannya it todengan [[Tulip mania]].<ref>{{cite web|url=https://www.nytimes.com/2018/01/29/opinion/bitcoin-bubble-fraud.html|title=Opinion - Bubble, Bubble, Fraud and Trouble|last=Krugman|first=Paul|date=26 March 2018|work=The New York Times|archive-url=https://web.archive.org/web/20180604124251/https://www.nytimes.com/2018/01/29/opinion/bitcoin-bubble-fraud.html|archive-date=4 June 2018|dead-url=no|access-date=17 March 2018}}</ref> AmericanTokoh businessbisnis magnateAmerika [[Warren Buffett]] thinksberpikir thatbahwa cryptocurrency willakan comeberakhir toburuk. a bad ending.<ref>{{cite web|url=https://www.cnbc.com/video/2018/01/10/warren-buffett-cryptocurrency-will-come-to-a-bad-ending.html|title=Warren Buffett: Cryptocurrency will come to a bad ending|publisher=CNBC|archive-url=https://web.archive.org/web/20180319084715/https://www.cnbc.com/video/2018/01/10/warren-buffett-cryptocurrency-will-come-to-a-bad-ending.html|archive-date=19 March 2018|dead-url=no|access-date=18 March 2018}}</ref> Inpada OctoberOktober 2017, [[BlackRock]] CEO [[Laurence D. Fink ]] calledmenyebut bitcoin ansebagai <nowiki>' indexindeks ofpencucian [[money laundering]]uang' '</nowiki>.<ref>{{cite web|url=https://www.cnbc.com/2017/10/13/blackrock-ceo-larry-fink-calls-bitcoin-an-index-of-money-laundering.html|title=BlackRock CEO Larry Fink calls bitcoin an 'index of money laundering'|last=Imbert|first=Fred|date=13 October 2017|archiveurl=https://web.archive.org/web/20171030202248/https://www.cnbc.com/2017/10/13/blackrock-ceo-larry-fink-calls-bitcoin-an-index-of-money-laundering.html|archivedate=30 October 2017|deadurl=no|accessdate=19 November 2017|df=}}</ref> "Bitcoin justhanya showsmenunjukkan youberapa howbanyak muchpermintaan demanduntuk forpencucian moneyuang launderingdi there is in the worlddunia," hekatanya<br said./>▼=== Darknet markets ===
{{Main|Darknet market}}Properties of cryptocurrencies gave them popularity in applications such as a safe haven in banking crises and means of payment, which also led to the cryptocurrency use in controversial settings in the form of [[Darknet market|online black markets]], such as [[Silk Road (marketplace)|Silk Road]].<ref name=":1" /> The original Silk Road was shut down in October 2013 and there have been two more versions in use since then. In the year following the initial shutdown of Silk Road, the number of prominent dark markets increased from four to twelve, while the amount of drug listings increased from 18,000 to 32,000.<ref name=":1" />
=== Studi Akaddemik ===
▲Darknet markets present challenges in regard to legality. Bitcoins and other forms of cryptocurrency used in dark markets are not clearly or legally classified in almost all parts of the world. In the U.S., bitcoins are labelled as "virtual assets". This type of ambiguous classification puts pressure on law enforcement agencies around the world to adapt to the shifting drug trade of dark markets.<ref name=":2">{{Cite journal|last=Raeesi|first=Reza|date=23 April 2015|title=The Silk Road, Bitcoins and the Global Prohibition Regime on the International Trade in Illicit Drugs: Can this Storm Be Weathered?|url=http://gjis.journals.yorku.ca/index.php/gjis/article/view/38935|deadurl=no|journal=Glendon Journal of International Studies / Revue d'Études Internationales de Glendon|volume=8|issue=1–2|issn=2291-3920|archiveurl=https://web.archive.org/web/20151222084405/http://gjis.journals.yorku.ca/index.php/gjis/article/view/38935|archivedate=22 December 2015|df=}}</ref>
{{Main|LedgerPada (journal)}}Inbulan September 2015, thepembentukan establishmentjurnal ofakademik the [[peer- reviewed]] [[academic journal]]review ''[[Ledger (journal)|Ledger]]'' ({{ISSN|2379-5980}}) was announceddiumumkan. ItIni coversmencakup studiesstudi ofcryptocurrency cryptocurrenciesdan andteknologi related technologiesterkait, and is publisheddan byditerbitkan theoleh [[University of Pittsburgh]].<ref>{{cite web|url=http://motherboard.vice.com/read/introducing-ledger-the-first-bitcoin-only-academic-journal|title=Introducing Ledger, the First Bitcoin-Only Academic Journal|work=Motherboard|archiveurl=https://web.archive.org/web/20170110172807/http://motherboard.vice.com/read/introducing-ledger-the-first-bitcoin-only-academic-journal|archivedate=10 January 2017|deadurl=no|df=}}</ref> ▼
TheJurnal journalini encouragesmendorong authorspara topenulis [[Digitaluntuk signature|digitallymenandatangani sign]]secara adigital [[Hash function|file hash ]] ofdari submittedmakalah papersyang dikirimkan, whichyang willkemudian thenakan bedicampurkan [[Trustedke timestamping|timestamped]]dalam into theblockchain bitcoin [[Blockchain (database)|blockchain]]. AuthorsPenulis arejuga alsodiminta askeduntuk tomemasukkan include a personalalamat bitcoin addresspribadi indi thehalaman firstpertama pagemakalah of their papersmereka..<ref>{{cite web|url=http://ledgerjournal.org/ojs/index.php/ledger/about/editorialPolicies#custom-0|title=Editorial Policies|work=''ledgerjournal.org''|archiveurl=https://web.archive.org/web/20161223135741/http://www.ledgerjournal.org/ojs/index.php/ledger/about/editorialPolicies#custom-0|archivedate=23 December 2016|deadurl=no|df=}}</ref><ref>{{Cite journal|year=2015|title=How to Write and Format an Article for Ledger|url=http://ledger.pitt.edu/ojs/public/journals/1/AuthorGuide.pdf|deadurl=no|journal=[[Ledger (journal)|Ledger]]|doi=10.5195/LEDGER.2015.1|doi-broken-date=2019-02-10|archiveurl=https://web.archive.org/web/20150922190603/http://ledger.pitt.edu/ojs/public/journals/1/AuthorGuide.pdf|archivedate=22 September 2015|df=}}</ref> ▼== Reception ==
▲Cryptocurrencies have been compared to [[Ponzi schemes]], [[Pyramid scheme|pyramid schemes]]<ref>{{cite web|url=https://qz.com/1217460/cryptocurrency-is-a-giant-multi-level-marketing-scheme/|title=Cryptocurrency is a giant multi-level marketing scheme|last1=Polgar|first1=David|website=Quartz|publisher=Quartz Media LLC|archive-url=https://web.archive.org/web/20180301150230/https://qz.com/1217460/cryptocurrency-is-a-giant-multi-level-marketing-scheme/|archive-date=1 March 2018|dead-url=no|accessdate=2 March 2018}}</ref> and [[Economic bubble|economic bubbles]],<ref>[https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3090405 Analysis of Cryptocurrency Bubbles] {{webarchive|url=https://web.archive.org/web/20180124144431/https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3090405|date=24 January 2018}}. ''Bitcoins and Bank Runs: Analysis of Market Imperfections and Investor Hysterics.'' Social Science Research Network (SSRN). Retrieved 24 December 2017.</ref> such as [[Housing market bubble|housing market bubbles]].<ref>{{citation|url=https://www.ft.com/content/1877c388-8797-11e5-90de-f44762bf9896|title=Bitcoin's place in the long history of pyramid schemes|first=Dan|last=McCrum|date=10 November 2015|work=Financial Times|deadurl=no|archiveurl=https://web.archive.org/web/20170323054631/https://www.ft.com/content/1877c388-8797-11e5-90de-f44762bf9896|archivedate=23 March 2017|df=}}</ref> [[Howard Marks (investor)|Howard Marks]] of [[Oaktree Capital Management]] stated in 2017 that digital currencies were "nothing but an unfounded fad (or perhaps even a pyramid scheme), based on a willingness to ascribe value to something that has little or none beyond what people will pay for it", and compared them to the [[tulip mania]] (1637), [[South Sea Bubble]] (1720), and [[dot-com bubble]] (1999).<ref>{{citation|url=https://www.cnbc.com/2017/07/26/billionaire-investor-marks-who-called-the-dotcom-bubble-says-bitcoin-is-a-pyramid-scheme.html|title=Billionaire investor Marks, who called the dotcom bubble, says bitcoin is a 'pyramid scheme'|first=Tae|last=Kim|date=27 July 2017|publisher=CNBC|deadurl=no|archiveurl=https://web.archive.org/web/20170905042046/https://www.cnbc.com/2017/07/26/billionaire-investor-marks-who-called-the-dotcom-bubble-says-bitcoin-is-a-pyramid-scheme.html|archivedate=5 September 2017|df=}}</ref>
▲While cryptocurrencies are digital currencies that are managed through advanced encryption techniques, many governments have taken a cautious approach toward them, fearing their lack of central control and the effects they could have on financial security.<ref>[http://www.meetup.com/BitcoinDC/events/176047462/?oc=evam Cryptocurrency and Global Financial Security Panel at Georgetown Diplomacy Conf] {{webarchive|url=https://web.archive.org/web/20140815121121/http://www.meetup.com/BitcoinDC/events/176047462/?oc=evam|date=15 August 2014}}, MeetUp, 11 April 2014</ref> Regulators in several countries have warned against cryptocurrency and some have taken concrete regulatory measures to dissuade users.<ref>{{cite web|url=https://www.bloomberg.com/news/2013-12-17/bitcoin-rules-drafted-in-denmark-as-regulator-warns-against-use.html|title=Bitcoins Spark Regulatory Crackdown as Denmark Drafts Rules|last=Schwartzkopff|first=Frances|date=17 December 2013|publisher=Bloomberg|archiveurl=https://web.archive.org/web/20131229064125/http://www.bloomberg.com/news/2013-12-17/bitcoin-rules-drafted-in-denmark-as-regulator-warns-against-use.html|archivedate=29 December 2013|deadurl=no|accessdate=29 December 2013|df=}}</ref> Additionally, many banks do not offer services for cryptocurrencies and can refuse to offer services to virtual-currency companies.<ref>{{cite web|url=https://www.wsj.com/news/articles/SB10001424052702304202204579252850121034702|title=Banks Mostly Avoid Providing Bitcoin Services. Lenders Don't Share Investors' Enthusiasm for the Virtual-Currency Craze|last=Sidel|first=Robin|date=22 December 2013|work=The Wall Street Journal|archiveurl=https://web.archive.org/web/20151119021729/http://www.wsj.com/news/articles/SB10001424052702304202204579252850121034702|archivedate=19 November 2015|deadurl=no|accessdate=29 December 2013|df=}}</ref> Gareth Murphy, a senior central banking officer has stated "widespread use [of cryptocurrency] would also make it more difficult for statistical agencies to gather data on economic activity, which are used by governments to steer the economy". He cautioned that virtual currencies pose a new challenge to central banks' control over the important functions of monetary and exchange rate policy.<ref>[http://www.rte.ie/news/business/2014/0703/628309-bitfin-conference/ decentralized currencies impact on central banks] {{webarchive|url=https://web.archive.org/web/20160304081304/http://www.rte.ie/news/business/2014/0703/628309-bitfin-conference/|date=4 March 2016}}, RTÉ News, 3 April 2014</ref> While traditional financial products have strong consumer protections in place, there is no intermediary with the power to limit consumer losses if bitcoins are lost or stolen.<ref>[https://www.forbes.com/sites/timothylee/2013/04/03/four-reason-you-shouldnt-buy-bitcoins/ Four Reasons You Shouldn't Buy Bitcoins] {{webarchive|url=https://web.archive.org/web/20170823075106/https://www.forbes.com/sites/timothylee/2013/04/03/four-reason-you-shouldnt-buy-bitcoins/|date=23 August 2017}}, Forbes, 3 April 2013</ref> One of the features cryptocurrency lacks in comparison to credit cards, for example, is consumer protection against fraud, such as [[Chargeback|chargebacks]].
▲An enormous amount of energy goes into [[proof-of-work]] cryptocurrency mining, although cryptocurrency proponents claim it is important to compare it to the consumption of the traditional financial system.<ref>[http://letstalkbitcoin.com/experiments-in-cryptocurrency-sustainability/ Experiments in Cryptocurrency Sustainability] {{webarchive|url=https://web.archive.org/web/20140311220151/http://letstalkbitcoin.com/experiments-in-cryptocurrency-sustainability/|date=11 March 2014}}, Let's Talk Bitcoin, March 2014</ref>
▲There are also purely technical elements to consider. For example, technological advancement in cryptocurrencies such as bitcoin result in high up-front costs to miners in the form of specialized [[Computer hardware|hardware]] and [[software]].<ref>[http://theweek.com/article/index/242753/want-to-make-money-off-bitcoin-mining-hint-dont-mine Want to make money off Bitcoin mining? Hint: Don't mine] {{webarchive|url=https://web.archive.org/web/20140505181855/http://theweek.com/article/index/242753/want-to-make-money-off-bitcoin-mining-hint-dont-mine|date=5 May 2014}}, ''The Week'', 15 April 2013</ref> Cryptocurrency transactions are normally irreversible after a number of blocks confirm the transaction. Additionally, cryptocurrency private keys can be permanently lost from local storage due to malware, data loss or the destruction of the physical media. This prevents the cryptocurrency from being spent, resulting in its effective removal from the markets.<ref>[http://c4ss.org/content/25638 Keeping Your Cryptocurrency Safe] {{webarchive|url=https://web.archive.org/web/20140712235229/http://c4ss.org/content/25638|date=12 July 2014}}, Center for a Stateless Society, 1 April 2014</ref>
▲The cryptocurrency community refers to pre-mining, hidden launches, [[Initial coin offering|ICO]] or extreme rewards for the altcoin founders as a deceptive practice.<ref>{{cite web|url=http://altcoins.com/scamcoins|title=Scamcoins|date=August 2013|archiveurl=https://web.archive.org/web/20140201051133/http://altcoins.com/scamcoins|archivedate=1 February 2014|deadurl=no|df=}}</ref> It can also be used as an inherent part of a cryptocurrency's design.<ref>{{cite news|title=Bitcoin's successors: from Litecoin to Freicoin and onwards|last=Bradbury|first=Danny|work=The Guardian|date=25 June 2013|url=https://www.theguardian.com/technology/2013/jun/25/bitcoin-successors-litecoin-freicoin|accessdate=11 January 2014|deadurl=no|archiveurl=https://web.archive.org/web/20140110172029/http://www.theguardian.com/technology/2013/jun/25/bitcoin-successors-litecoin-freicoin|archivedate=10 January 2014|df=}}</ref> Pre-mining means currency is generated by the currency's founders prior to being released to the public.<ref>{{cite news|title=Beyond bitcoin: Inside the cryptocurrency ecosystem|last=Morris|first=David Z|work=Fortune|date=24 December 2013|url=http://fortune.com/2013/12/24/beyond-bitcoin-inside-the-cryptocurrency-ecosystem/|accessdate=27 January 2018|deadurl=no|archiveurl=https://web.archive.org/web/20180127202338/http://fortune.com/2013/12/24/beyond-bitcoin-inside-the-cryptocurrency-ecosystem/|archivedate=27 January 2018|df=}}</ref>
▲[[Paul Krugman]], [[Nobel Memorial Prize in Economic Sciences]] winner does not like bitcoin, has repeated numerous times that it is a bubble that will not last<ref>{{cite web|url=http://www.businessinsider.com/paul-krugman-says-bitcoin-is-a-bubble-2017-12|title=PAUL KRUGMAN: Bitcoin is a more obvious bubble than housing was|archive-url=https://web.archive.org/web/20180317102110/http://www.businessinsider.com/paul-krugman-says-bitcoin-is-a-bubble-2017-12|archive-date=17 March 2018|dead-url=no|access-date=16 March 2018}}</ref> and links it to [[Tulip mania]].<ref>{{cite web|url=https://www.nytimes.com/2018/01/29/opinion/bitcoin-bubble-fraud.html|title=Opinion - Bubble, Bubble, Fraud and Trouble|last=Krugman|first=Paul|date=26 March 2018|work=The New York Times|archive-url=https://web.archive.org/web/20180604124251/https://www.nytimes.com/2018/01/29/opinion/bitcoin-bubble-fraud.html|archive-date=4 June 2018|dead-url=no|access-date=17 March 2018}}</ref> American business magnate [[Warren Buffett]] thinks that cryptocurrency will come to a bad ending.<ref>{{cite web|url=https://www.cnbc.com/video/2018/01/10/warren-buffett-cryptocurrency-will-come-to-a-bad-ending.html|title=Warren Buffett: Cryptocurrency will come to a bad ending|publisher=CNBC|archive-url=https://web.archive.org/web/20180319084715/https://www.cnbc.com/video/2018/01/10/warren-buffett-cryptocurrency-will-come-to-a-bad-ending.html|archive-date=19 March 2018|dead-url=no|access-date=18 March 2018}}</ref> In October 2017, [[BlackRock]] CEO [[Laurence D. Fink]] called bitcoin an 'index of [[money laundering]]'.<ref>{{cite web|url=https://www.cnbc.com/2017/10/13/blackrock-ceo-larry-fink-calls-bitcoin-an-index-of-money-laundering.html|title=BlackRock CEO Larry Fink calls bitcoin an 'index of money laundering'|last=Imbert|first=Fred|date=13 October 2017|archiveurl=https://web.archive.org/web/20171030202248/https://www.cnbc.com/2017/10/13/blackrock-ceo-larry-fink-calls-bitcoin-an-index-of-money-laundering.html|archivedate=30 October 2017|deadurl=no|accessdate=19 November 2017|df=}}</ref> "Bitcoin just shows you how much demand for money laundering there is in the world," he said.
<br />
=== Academic studies ===
▲{{Main|Ledger (journal)}}In September 2015, the establishment of the [[peer-reviewed]] [[academic journal]] ''[[Ledger (journal)|Ledger]]'' ({{ISSN|2379-5980}}) was announced. It covers studies of cryptocurrencies and related technologies, and is published by the [[University of Pittsburgh]].<ref>{{cite web|url=http://motherboard.vice.com/read/introducing-ledger-the-first-bitcoin-only-academic-journal|title=Introducing Ledger, the First Bitcoin-Only Academic Journal|work=Motherboard|archiveurl=https://web.archive.org/web/20170110172807/http://motherboard.vice.com/read/introducing-ledger-the-first-bitcoin-only-academic-journal|archivedate=10 January 2017|deadurl=no|df=}}</ref>
▲The journal encourages authors to [[Digital signature|digitally sign]] a [[Hash function|file hash]] of submitted papers, which will then be [[Trusted timestamping|timestamped]] into the bitcoin [[Blockchain (database)|blockchain]]. Authors are also asked to include a personal bitcoin address in the first page of their papers.<ref>{{cite web|url=http://ledgerjournal.org/ojs/index.php/ledger/about/editorialPolicies#custom-0|title=Editorial Policies|work=''ledgerjournal.org''|archiveurl=https://web.archive.org/web/20161223135741/http://www.ledgerjournal.org/ojs/index.php/ledger/about/editorialPolicies#custom-0|archivedate=23 December 2016|deadurl=no|df=}}</ref><ref>{{Cite journal|year=2015|title=How to Write and Format an Article for Ledger|url=http://ledger.pitt.edu/ojs/public/journals/1/AuthorGuide.pdf|deadurl=no|journal=[[Ledger (journal)|Ledger]]|doi=10.5195/LEDGER.2015.1|doi-broken-date=2019-02-10|archiveurl=https://web.archive.org/web/20150922190603/http://ledger.pitt.edu/ojs/public/journals/1/AuthorGuide.pdf|archivedate=22 September 2015|df=}}</ref>
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== See also ==
{{Portal|Information technology|Business and economics|Cryptocurrency}}
* [[2018 crypto crash]]
* [[Crypto-anarchism]]
* [[Cryptocurrency bubble]]
* [[Cryptocurrency exchange]]
* [[Cryptographic protocol]]
* [[List of cryptocurrencies]]
* [[Virtual currency law in the United States]]
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