Bitcoin gets easier for consumers to buy, spend

robocoinatm16 Apr 2014 / Seattle Times – It’s getting easier for consumers to buy and spend bitcoin, the cybercurrency that has captured much of the tech world.

With each passing month, entrepreneurs are rolling out new technology for consumers to buy and store bitcoin, shop online with the virtual currency and send it to friends. A bitcoin ATM recently was unveiled in Mountain View, Calif. — put in a few hundred bucks, out comes a bitcoin. And more retailers — from consumer electronics to coffee roasters and pizza delivery — are accepting bitcoin, making it easier for consumers to choose the Internet currency over dollars.

“It’s all about to change over the next 12 to 24 months,” said Marshall Hayner, a San Francisco entrepreneur who this month will launch bitcoin app QuickCoin. “We are going to see all kinds of people adopt it. It’s going to power transactions on the Internet.”

Bitcoin is a cybercurrency and payments network created in 2009 by a mathematical formula as an alternative to banks and government-controlled currency systems. Bitcoins are added one at a time to the network by computer programmers around the world, and most bitcoins are bought and traded on global Internet exchanges.

The San Francisco Bay Area bitcoin community is filled with entrepreneurs and investors pouring millions of dollars into their projects. But for the rest of us, still buying with cash and plastic, bitcoin is a bit of a mystery….. Read more

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