Lavalley 1

Austin Lavalley
DeBock
Block 2
February 20, 2015

Research Question: Should Bitcoin be regulated by the government?

Working Thesis: Bitcoin should not be regulated by the government or any other outside
source.
Refined Thesis: Bitcoin should not be regulated by the US government, and should be left a
private institution.
Annotated Bibliography
Graham, Cameron. Out of the Spotlight, Bitcoin Gains Legitimacy. 15 September 2014. 18
February 2015.
Cameron Grahams article explains the progress Bitcoin has made over the recent months
in becoming a legitimate currency. In the article, he shows how the value of Bitcoin has
consistently evened out since like 2013. Also, he shows the relationship between the decrease in
popularity of Bitcoin and the consistency of the value. As public interest of Bitcoin falls, the
consistency in price rises, which gives those invested in Bitcoin confident that it will become a
more mainstream for of currency. He goes on to explain how major online merchants have been
partnering up with Bitcoin, including PayPal and Coinbase. This article will help support the
position by showing how Bitcoin can serve as a legitimate currency and can sustain itself without
the aid of government regulation.

Lavalley 2
Gregersen, Erik. "Bitcoin." Encyclopedia Britannica (2014).
Gregersens article gives an overview of what Bitcoin is and how the system works. He
begins by explaining the reasoning for Bitcoin being created, which was to have a currency that
wasnt based on the trustworthiness of banks or other financial institutions. He goes on to explain
how the anonymous system of transferring works with private keys, and then on how Bitcoin
mining occurs. Lastly, he elaborates on the vulnerabilities of Bitcoin, as they are susceptible to
being stolen by hackers, and digital wallets are not completely safe. This article will help support
the position by giving crucial background information on the topic.

Maney, Kevin. "The Other Side of the Bitcoin." Newsweek Global (2014): 1-4.
Maneys article discusses the efforts of Bitcoin to build and develop a proper
infrastructure for a decentralized currency. He explains Bitcoins strategy to create a grid,
using a method similar to that of the gold rush. They admit bitcoins are currently very volatile,
but that is all a part of the plan. Later in the article, he explains how big companies who accept
bitcoin as a form of payment, do not in fact keep them as bitcoins, but exchange them for USD
immediately. Lastly, he describes the process in which Bitcoins are created, which is referred to
as mining. This article will help support the position by providing a similar point of view.