How should NH regulate bitcoin?

The people who use cryptocurrencies are well aware of their risks and benefits. If you don't like them, don't use them. This seems like a solution to yet another problem that doesn't exist, regulation simply for its own sake. I don't see any reason to regulate cryptocurrencies whatsoever.

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Hello, I would like to contribute where I can here.

Bitcoins started as an alternative digital form of currency proposed by inventor Satoshi Nakamoto, whom released the source code to the public in 2008 before making the currency official in January of 2009. Since its injection in to the market the Bitcoin industry has experienced significant growth and in its early years picked up a surprisingly large number of carriers. To date it is estimated there is nearly 6 billion dollars worth of bitcoin currency in existence and the longer the currency exists, the more it will expand.

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Monetarily speaking, Bitcoins reached peak value 2013 when shares of Bitcoin traded at values greater than 1,000$. However, just three years later now Bitcoin stock prices have been cut by over 50% and currently trade at 418$ a share. In terms of business prospects the future of Bitcoin never seemed as bright as it did in 2014 when several new markets/business began debating to allow sales through Bitcoin. I personally remember speaking to many ‘old timers’ whom were afraid what they did not understand, fearing the internet would take over our monetary system. Even several distinguished colleges began accepting Bitcoin in exchange payment for tuition. In 2016 however, the fears of the ‘old timers’ appear unfounded and the enthusiasm surrounding the industry seems to have dampened. In fact most of the headlines surrounding Bitcoin this year have been trending in a decidedly negative direction.

1-15-16 | In 2015 Bitcoin stock prices fell a total of 15% worldwide: http://www.coindesk.com/bitcoin-price-15-network-failure-claims/

3-2-16 | Compared to previous years, in 2016 it now take 43 minutes to verify a bitcoin payment – used to take 10 minutes:

3-13-16 | The Russian Ministry of Finance has proposed new regulations that would make Bitcoin illegal to use within the country’s borders. People caught buying/selling Bitcoins in Russia could face fines and up to 4 years in prison for the act, bankers and managers face 7 years in prison: http://news.softpedia.com/news/bitcoin-transactions-in-russia-could-car…

3-13-16 | Windows announces they will stop accepting Bitcoin as payment: http://news.softpedia.com/news/microsoft-s-windows-10-store-no-longer-a…

4-1-16 | Wall Street and the tech industry in general seem to be moving past bitcoin in favor of new block chains: http://www.cnbc.com/2016/04/01/wall-street-and-tech-start-to-move-past-…

Recent events have many industry insiders seriously debating the future of the currency. As for the average person in society more and more people are associating Bitcoin usage with shady back room ‘black-hat’ deals then they associate it with reputable business transactions. An image Bitcoin must change if it desires to remain relevant.

I agree with the logic of Russia here. I do not see Bitcoin as a viable currency and the recent slide in global stocks indicate this. Furthermore this is a currency primarily used by criminals and people trying to evade the law. It does not have a good reputation and I do not support spending money on this study or trying to advance bitcoin in todays society. End this study before you spend tax revenue that could be spent elsewhere on things more needed.

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