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Bitcoin investors, legal experts grilled by New York regulators

Marc Ferranti | Jan. 29, 2014
The New York State Department of Financial Services plans to issue rules for the cryptocurrency this year.

Investors noted that while there are other virtual currencies, Bitcoin has a head start. "The history of protocols shows us that there is a 'winner take all,' so on the protocol side it's gonna be Bitcoin," Wilson said.

However, various payment and programmable applications can be built on top of the Bitcoin architecture, Wilson said.

 

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