The recent climb in bitcoin’s exchange rate has driven heavy attention from media and investors. As the second time this has occurred at such scale in 2013 alone, the broader conversation has made a subtle but important shift from simply trying to understand what bitcoin is and where it came from, to what is happening in the space and what the future might hold. Recent growth has been driven not just by speculators, but also entrepreneurs, venture capitalists and bitcoin users that have contributed to remarkable change in the digital currency economy since the last time these types of exchange rate gains were made. As bitcoin’s mainstream popularity grows, the tone with which it is addressed has largely begun to shift. For example, in 2011, some of the earliest comments about the industry from federal legislators arose when US Senator Charles Schumer referred to bitcoin as “an online form of money laundering used to disguise the source of money.” A more recent letter from US Senators urging a discussion around…
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