It’s been an absolutely mammoth year for bitcoin, as its value has risen beyond all expectations, and its userbase has broadened as a result. Here are the five biggest bitcoin stories of the past year.
Bitcoin was in relatively good health when 2017 got underway, but few could have predicted just how much its value would rise over the course of the year. All kinds of records have been broken over the past twelve months, with going rate rising by well over 1,000 percent.
In November, bitcoin officially passed the $10,000 mark, and in doing so became one of the world’s top 30 largest currencies. As its price continues to surge, even experts are unable to say with any certainty when its value will level off.
As more and more money is pumped into crypto, we’re starting to see authorities move to regulate it. In August, there were rumblings that members of the US Congress were preparing to submit a bill proposal, and we’ve seen similar activity elsewhere in the world.
In November, a federal judge set an important precedent by ordering CoinBase to supply the IRS with details of users who bought, sold, sent, or received $20,000 or more in the cryptocurrency in a single year between 2013 and 2015. To many, one of the most appealing aspects of cryptocurrency is the fact that transactions can be made privately – but it seems clear that more oversight is on its way. Read more from futurism.com…
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