Plenty of basic information on cryptocurrency have been said in the previous chapters, and we deliberately repeat some issues in this chapter to set the tone of the chapter titled as “Legal Issues in Cryptocurrency.” Cryptocurrency (like Bitcoin, Dogecoin, Litecoin, or Peercoin) is a digital virtual, e-commerce currency or electronic currency. BerkShares. While Bitcoin and Litecoins are worldwide currencies, BerkShares are hyper-local: they’re only accepted in the Berkshires, a region in western Massachusetts. According to the BerkShares website, more than 400 Berkshires businesses accept the currency, and 13 banks serve as exchange stations. BerkShares. While Bitcoin and Litecoins are worldwide currencies, BerkShares are hyper-local: they’re only accepted in the Berkshires, a region in western Massachusetts. According to the BerkShares website, more than 400 Berkshires businesses accept the currency, and 13 banks serve as exchange stations. Just like the Ithaca Dollars, BerkShares were conceptualized as Transition currency, aiming, like the Transition movement from which it got its name, for more social resilience and for a greater community feeling that connects local businesses with residents. As the responsible non-profit organization Berkshares Inc. declares on their website, Bitcoin cash. Bitcoin cash is not the same cryptocurrency as bitcoin – it is a standalone cryptocurrency, created as a branch of the original in 2017. It operates under its own rules and with its own blockchain.The intended use of bitcoin cash is a usable, electronic currency. It can be spent just like normal money in some locations but fees are much lower and transaction speeds are much faster.
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