The debate about the legitimacy and longevity of virtual currency has become a global one as bitcoin has risen from a fringe entity relegated to geeks’ forums to a foremost concern for regulatory agencies in many countries. The U.S. is struggling to figure out a format for approaching the regulation of the currency that is notorious for its volatility in value, and association with illegal online markets such as the Silk Road. But now other countries are exploring ways to possibly regulate the trade and use of the virtual currency as it becomes increasingly obvious that the currency is not disappearing from markets any time soon.
In fact, bitcoin is scheduled to technically exist well into the next century. The last bitcoin will be mined in 2140, and until then, the global community is figuring out a way to regulate the currency that has already made its way into the bank accounts, ATMs, and financial lives of many people through its trading forums.