Bitcoin

Christina Gagnier

As awareness and use of Bitcoin increases, the question of whether our firm takes Bitcoin, or whether any lawyer should consider taking this new currency as a form of payment, is becoming ever more timely as many lawyers, particularly solos and small firms, try to keep their practices as virtual as possible…

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Bitcoin, your anarcho-syndicalist little brother’s favorite cryptocurrency, has created quite the stir of late. Just last month, your dead grandmother’s favorite newsweekly, Newsweek, covered itself in whatever the opposite of glory is when it pinned the blame for bitcoin on an unsuspecting and camera-shy Californian named Dorian Nakamoto. The man, who reacted to the accusation that he had created a massively popular currency as if someone had shot his dog, retreated to the safety of an awful haircut shortly after the “news” broke. But if Nakamoto wasn’t the creator of bitcoin, then who was?

Yesterday, Slate magazine (a digital publication that is only a magazine because we all agree it is one) reported on the latest developments in bitcoin founder speculation. The results of an academic analysis might shock you. They might horrify you.

They might make you wonder whether that class you took at George Washington Law was taught by the inventor of bitcoin…

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Kristen Saban

* The Fortune 500′s top women lawyers have a message for you. There is a ton of female talent out there, and you’ll probably have a woman at the head of your legal department very, very soon — whether you like it or not. [Corporate Counsel]

* Cornell Law’s new dean would definitely be a contender if we still ran those Law School Dean Hotties contests. Welcome, Eduardo Peñalver. First task: resolve the tie at #13 in the latest U.S. News law school rankings. [Cornell Chronicle]

* Cleveland-Marshall Law has a new “risk-free” degree. Just go for one year. If you hate it, you can drop out, but you’ll have a master of legal studies — which is better than one-third of a J.D. [National Law Journal]

* Dorian Satoshi Nakamoto, the man who has emphatically and repeatedly denied that he’s Bitcoin’s creator, hired a law firm to continue to spread his denials across the globe. Wow. Such lawyer. [Newsmax]

* This catfight could use some mud: A lawyer for Sarah Grimes, the sorority girl who came to blows with Nick Saban’s daughter and sued, pledged to take his client’s case to the state’s highest court. [AL.com]

* Matt Levine describes how Dewey & LeBoeuf LLP should have taken a lesson from its clients and not used email so much while discussing possible frauds. [Bloomberg View]

* Should we be paying law student externs? Well, yeah, we should. That’s also the conclusion of Jay Edelson and Chandler Givens. [Legal Solutions Blog / Thomson Reuters]

* Speaking of Jay Edelson, his most recent high-profile case is a class action charging the now-defunct Mt. Gox — which stood for “The Magic: The Gathering Online Exchange” — with fraud in its loss of hundred of millions of dollars worth of Bitcoins. Hopefully he’s not getting a contingency in Bitcoin… because he could end up with about 20 cents for all his trouble. [PC World]

* The Legal Geeks have a podcast analyzing the legal issues involved in the recent Agents of SHIELD episode and podcast with Judge Matthew Sciarrino. [The Legal Geeks]

* Senator Ted Cruz continues discounting the value of a Harvard Law degree. This time on the subject of voting rights. [Election Law Blog]

* The Center for Public Integrity has won the Goldsmith Prize for Investigative Reporting for its work on the black lung controversy. We previously discussed CPI’s work examining the lengths Jackson Kelly went to in fighting to deny benefits to dying victims. Congratulations on the award and the great work! [Center for Public Integrity]

* The picture after the jump is probably not an appropriate way to talk about slavery.

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I am on record as an optimist when it comes to the internet. The free flow of information on the web, including but not limited to websites like Above the Law, helps people make better decisions about their lives and careers (and also entertains, a value that shouldn’t be ignored).

At the same time, as we’ve discussed before, the web has its dark side….

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* Baseball is trying to ban home plate collisions, because why have any aspect of the sport be exciting? Here’s an exercise in statutory interpretation featuring the new rule. [PrawfsBlawg]

* Former judge forced to resign at age 40 under a gathering cloud of sexual harassment allegations now collects $65,000 a year in pension. And it looks like he may be claiming “sex addiction” as a disability. Bravo. [WDSU]

* Should legal writing professors be treated like nurses? [Dorf on Law]

* The world’s top Bitcoin exchange, Mt.Gox, just shut down, and millions of real dollars worth of fake money is missing. I’m excited to see the bevy of Libertarian Bitcoin fanatics who praise the decentralized “new Gold standard” and publicly trash its critics explain this one. [Valleywag]

* Are bar associations moving online? [Law Sites]

* Forget your cell phone, the feds have been spending millions to warrantlessly collect your very breath. [Jalopnik]

* Twitter account posting every frame of Top Gun lands user in the danger zone. [IT-Lex]

* Our own David Lat did some speculating about who the next Supreme Court justice might be. [Ozy]

* That hope that the government would deport Justin Bieber? Here’s why that just isn’t legally going to happen. Video after the jump… [Bloomberg Law]

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Is the internet good or evil? Well, neither — the internet, just like the information you find on it, is really what you make of it. Some people use information for good purposes, and some use it for bad.

Here at Above the Law, we tend to see the internet as a force for good. We use our bandwidth on the web to entertain and to educate. Our view is that, in general, more information is good. With more information, people can make better choices about their lives and careers. Should I go to law school? If so, which law school? And what about law firms? Which firms are the best places to work?

But you can use the internet for anything, really. For some folks, to quote the popular song from the musical Avenue Q, The Internet Is For Porn — and so much more, from the shady to the downright illegal….

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The last time someone willingly entered New Jersey.

* New Jersey continues to mint lawyers despite terrible market conditions. Lat told me I should come up with a good Jersey joke. I said that was fairly well-worn territory and I would feel a bit like #498 at the Houston 500. Lat said, “            ” [Newark Star-Ledger]

* The Obama uncle we mentioned earlier this week? Obama’s roommate before Harvard Law. Why won’t Obama produce his rent deposit!? [CNN]

* The men who stole parts of the Porsche Paul Walker died in were arrested yesterday. They will be charged with felony grand theft, tampering with evidence, and living perhaps too fast… too curious? [TMZ]

* Regulators are having a tough time figuring out what to do with the burgeoning Bitcoin market. Numismatists are equally puzzled by this rarest of rare coin markets. [New York Times]

* Jos. A. Bank, the most prestigious clothier in the United States and/or Canada, has been subpoenaed by the Ohio Attorney General. If the Ohio AG deposes one executive, he gets to depose three additional executives for free. [Washington Post]

* A Q&A with Nelson Mandela’s lawyer. Very cool story, indeed, bro. [Al Jazeera America]

And as an added bonus, after the jump are pictures from last night’s ATL holiday party…

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‘Gee, my life is so meaningful. Thanks a lot, law school!’

* Despite the fact that the overall demand for legal work was down by five percent during the first nine months of the year, law firms still raised their hourly rates. Hey, what can we say? Math is hard. [Am Law Daily]

* After instructing his lawyers not to speak during what he called a “sham sentencing,” Whitey Bulger received two life sentences plus five years. Don’t worry, the appeal won’t be a sham. [National Law Journal; CNN]

* Attention c/o 2015: the New York City Bar Task Force is considering throwing commercial paper out the window in favor of administrative law. Something something arbitrary and capricious. [New York Law Journal]

* What is law school for, aside from collecting gigantic mountains of non-dischargeable student loan debt? Apparently it’s for creating a more meaningful life, because with poverty comes clarity. [WSJ Law Blog]

* In the very near future, you might need a license to conduct business with virtual money like bitcoin. The Brothers Winklevii are probably already preparing their paperwork to file. [DealBook / New York Times]

Anthony Weiner, surprisingly not nude.

* Bernard Knight Jr., general counsel of the U.S. Patent and Trademark Office, will be taking his intellectual property talents to McDermott Will & Emery as a new — and rather cute — partner. Congratulations! [Corporate Counsel]

* The Securities and Exchange Commission has charged a Texas man in a Monopoly money Bitcoin-related Ponzi scheme. Unfortunately for him, the associated jail time for the crime isn’t virtual. [Wall Street Journal (sub. req.)]

* When applying to law school, it’s wise to have a unique personal statement topic. But considering the application cycle, you could probably get away with writing “LOL” and still get into the school of your choice. [Law Admissions Lowdown / U.S. News]

* Russia has granted NSA leaker Edward Snowden a pass to leave the Moscow airport’s transit zone. Be prepared to welcome borscht into your life, and be sure to always say spasibo. [Associated Press]

* Sorry folks, but Carlos Danger, more popularly known as Anthony Weiner, won’t be pulling out of the New York City mayoral race. I, for one, would love to see his AMAs on Reddit. [New York Times]

* It looks like Aaron Hernandez shot himself in the foot when lawyering up for a civil suit where he’s accused of shooting someone in the eye. His attorney specializes in banking litigation. [USA Today]

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