WHEN he was a Yale Law School student, Reuben Grinberg wrote one of the first academic papers about Bitcoin, a novel virtual currency that uses sophisticated cryptography to validate and secure Bitcoin: An Innovative Alternative Digital Currency Reuben Grinberg Follow this and additional works at:https://repository.uchastings.edu/ hastings_science_technology_law_journal Part of theScience and Technology Law Commons This Article is brought to you for free and open access by the Law Journals at UC Hastings Scholarship Repository. Mining bitcoin, Holding Bitcoin, Using bitcoin, — as currency for the purchase of goods or services, — as a token representing the sale of other assets, — as a smart contract, Buying, selling and otherwise exchanging bitcoin. Notes: See Vartanian et al., supra, n. 8, and Reuben Grinberg, “Bitcoin: An Innovative Digital Currency,” 5 Only four years ago, and two years after it started as a novelty in 2009, Reuben Grinberg published the first academic article on bitcoin, “BitCoin: An Innovative Alternative Digital Currency 1. Introduction. Bitcoin has risen in importance as an electronic payment system or pseudo-currency, and also as a speculative asset. Due to the nature and limitations of the mining technology, the market microstructure, and the seemingly irrational investor interest in Bitcoin, expected returns may be determined by non-traditional variables.. Particularly, mining technology parameters may be
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