Mark is an Associate Professor at Adelphi University in Long Island, where he teaches cyber law, digital ethics and blockchain. He also writes a column for The Washington Examiner. He holds a J.D. from Georgetown Law. Mark's research focuses on communication law and ethics, particularly for online speech and media. His latest book, Cryptocurrencies: A Primer on Digital Money, was published by Routledge in 2019. His research has also been published in academic journals, including Harvard’s, Yale's and Stanford's law journals. His publications have been translated into Korean and Romanian. He’s spoken at conferences around the world, including TEDx in Shanghai.
From humble beginnings in 2008 to its 2021 price peak, Bitcoin (BTC) has taken investors and the world for quite the ride. In just over a decade, the first cryptocurrency has spiked and crashed and…
At this point, Bitcoin had no real monetary value. Miners — who use powerful computers that solve complex math problems to uncover new Bitcoins and verify that previous Bitcoin transactions are legitimate and accurate — would trade Bitcoin back and forth just for fun. It would take more than a year for the first economic transaction to take place, when a Florida man negotiated to have two Papa John’s pizzas, valued at $25, delivered for 10,000 BTC on May 22, 2010. “That transaction essentially established the initial real-world price or value of Bitcoin at 4 Bitcoins per penny.