Banking on Bitcoin

btckeychain02 Dec 2013 / Ren Gazzette-Journal – An online travel agency in Los Angeles and a European private university have begun accepting payments in the popular virtual currency known as Bitcoin, a sign that businesses are moving into a new global economic era., an online travel agency based in Los Angeles, began taking the virtual currency for the purchase of flights, and the University of Nicosia in the capital of Cyprus began accepting tuition payments in Bitcoin.

“I’m excited about it,” said CEO Jeff Klee. “I’m anxious to see how popular it becomes as we get the word out. We expect people to come to us specially because they can use Bitcoin.”

Bitcoin, launched in 2009, is decentralized digital currency that is traded from person to person, rather than through banks, and has no issuing or regulating country.

Bitcoin supporters recently appeared before Congress to explain the concept to lawmakers who asked whether it needed to be regulated after federal agents busted Silk Road, a website trafficking in illegal drugs that required customers to pay in Bitcoin….. Read more

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