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Can't -- series with husbands that come as -- up on the site now about bitcoin that the digital currency Kate's gonna tell us what they are -- -- are using them.
And -- it seem like there's this push to regulate them that's right so this me and senate committee from Homeland Security sent a letter to the policy urging her.
Greater investigation into the digital currency -- into operation such a big point and this is created in 2009 -- open source computer.
It's since grown into a one billion dollar industry it's basically a peer to -- electronic currency.
Some people say greater regulation could help to bring it -- into the -- street.
Others say the greater regulation is what's causing the US to fall behind in comparison to other nations when it comes operating with a point.
There's not enough consumer protections in place essentially for this to replace the US dollar any time soon.
There's some major risk for people who was behind it.
I'm very tech savvy people are who's using -- queen right now so I'm not using -- -- using it.
Absolutely not so some of the consumer risks here start when -- when you operate in trade with pinpoint.
You have a public key and a private key I spoke to one big queen asked for who pulled me -- -- -- -- A key senior public he is would allow other people let your trading went to added to -- value to the amount of -- -- that you have -- -- There's a lot of virtual yes it's a virtual on me like -- None on -- yeah yeah yeah exactly so your private keys and allowed you -- withdraw.
That they think yet -- experts using old stories which is actually physically writing down your private -- And storing it in a safe deposit box -- with the bank and then waking your computer of any.
-- and information so that.
Number one people can't hack into it and number can you don't Wednesday -- looked at this big point expert yesterday a colleague of his.
Lost a 180000.
Dollars a big -- because he -- the private key.
-- -- -- Still another issue with -- is that it's not currently tied and then yesterday when I wrote the story one US dollar was equivalent 214.
Dollars and big point.
You can lose half of that in this day and it's not backed by anything it's not -- -- hire people.
Going into that Clinton is saying eventually the -- not gonna be in existence any line at the thought from some people but again others say that this doesn't have enough consumer protections -- don't -- to -- but it backed by a very prominent hair yeah.
The legal my fans exactly anyone saw this social network there -- people you know.
Went head to head with Mark Zuckerberg over who created basement so there's two of the big names behind.
And it is earlier this week was that New York authorities went after about two dozen -- -- operators right asking for more information yeah exactly so.
That's what some of -- regulatory push is coming from and they wanted to find out -- enough -- they want to find out what the consumer -- either one -- bring greater regulation the industry hopefully.
Start pushing this morning from the mainstream one more thing that's important at this point is tied to some monetary dice when you operate with it.
Yes we have reported to the IRS people don't realize that and get yourself and hot water with them which is different here in two ways he had to report.
The number of big claims that you buying.
-- -- the IRS and trade.
A crack and and what does that -- you trading with -- but it's all virtual online -- trade it's it's like a soccer commodity.
But can you trade like GM with that claim I'm certain changes nothing is trading at a -- just think -- -- -- It's.
Okay I'm just trying to think of what this.
Marketplace looks like well exactly and that's why for the -- -- You know again -- you didn't change anything differently yes I did I grabbed my head around it yet there wasn't -- that recently opened up I was the only detrimental to Barnes so if there is a good PR stunt that why you play classes today.
Did what it points mark and yes so hopefully we'll see greater regulation comes and people start using this more and more I'm not going to be -- in any time in -- you -- a lot about it and we'll see about the regulation your article is up on the web site.
Thank you very Wednesday -- -- article.
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