Bitcoins in the News
Posted: 02-24-2014 06:53 AM
Couple of recent articles I found interesting....
I honestly don't know much about the subject, except for what I've seen posted here. But, it seems to be going mainstream.....
Docs now taking payment by bitcoin
Whether looking to draw attention to their practices, experiment with new technology or simply have a bit of fun with their otherwise dreary financial operations, several American medical professionals are now accepting bitcoins, the Web-based virtual currency, in addition to dollars.
Bitcoin, a peer-to-peer, open-source digital currency network that was first launched five years ago, has been getting a lot of media attention lately ¨C sometimes for dark stories such as those spotlighting its role as the currency of choice for Silk Road, an online black market for illegal drugs that was shut down by the FBI this past October.
But it's also getting strong positive attention, especially from Internet thought leaders, because the Bitcoin system, which depends on no centralized authority but rather a loosely affiliated community of techies, offers some key breakthroughs in the areas of information exchange ¨C particularly between parties unknown to each other ¨C and digital cryptography.
The legal status of this so-called cryptocurrency is in flux worldwide, as various policymakers, monetary bodies and tax agencies get up to speed on its true ramifications.
In the meantime, curious people can still educate themselves and explore this new payment alternative without fear and in relative safety.
Paul Abramson, MDDoctors who have taken bitcoins have found that doing so is both simple and relatively "unmagical," as San Francisco physician Paul Abramson, MD, put it.
Abramson, founder of My Doctor Medical Group, is a former software programmer and trained electrical engineer with a significant personal interest in privacy.
It was privacy that drew him to learn more about bitcoins. Early assessments of the technology suggested the bitcoin exchange system had significant anonymity protections that could augment existing medical privacy laws and allow patients who sought the ultimate discretion a nearly invisible form of payment.
http://www.bostonglobe.com/business/201 ... story.html
You can buy bitcoins at South Station
The ATM at Boston's South Station snatched the money from my hand and didn¡'t even give me a receipt. But my smartphone's green glow let me know I had just invested $5 in the world's most controversial, questionable, and exciting new currency, the bitcoin.
The machine, which is the first of its kind in Boston, was officially plugged in Wednesday morning right next to Pinkberry and began spewing bitcoins, virtually.
You can think of it as Internet cash, said Chris Yim, cofounder of Liberty Teller, the Boston company that operates the new bitcoin ATM. This is just a more secure way of buying things online.
How bitcoin works It is also confusing to many people. That ¡s why a Google search turns up such posts as, How to explain bitcoin to your grandmother, and, What the heck is a bitcoin?
The five-year-old currency is not backed by any central government, but can be spent just like dollars in a small but increasing number of places, including some local restaurants and the popular online retailer Overstock.com.
Bitcoins are stored by users in so-called digital wallets, and each coin has a unique online address. Transactions are managed by thousands of computers linked in a worldwide network, helping to ensure their integrity.
There is also the benefit of privacy. While purchases are shared with the entire network, creating a permanent record, users don't have to personally identify themselves the same way someone handing over cash at a register doesn't have to provide the clerk with a name. The hackers who stole millions of credit card numbers from Target during the holiday season would have a much tougher time cracking the bitcoin code.
http://www.bostonglobe.com/business/201 ... story.html
I honestly don't know much about the subject, except for what I've seen posted here. But, it seems to be going mainstream.....
Docs now taking payment by bitcoin
Whether looking to draw attention to their practices, experiment with new technology or simply have a bit of fun with their otherwise dreary financial operations, several American medical professionals are now accepting bitcoins, the Web-based virtual currency, in addition to dollars.
Bitcoin, a peer-to-peer, open-source digital currency network that was first launched five years ago, has been getting a lot of media attention lately ¨C sometimes for dark stories such as those spotlighting its role as the currency of choice for Silk Road, an online black market for illegal drugs that was shut down by the FBI this past October.
But it's also getting strong positive attention, especially from Internet thought leaders, because the Bitcoin system, which depends on no centralized authority but rather a loosely affiliated community of techies, offers some key breakthroughs in the areas of information exchange ¨C particularly between parties unknown to each other ¨C and digital cryptography.
The legal status of this so-called cryptocurrency is in flux worldwide, as various policymakers, monetary bodies and tax agencies get up to speed on its true ramifications.
In the meantime, curious people can still educate themselves and explore this new payment alternative without fear and in relative safety.
Paul Abramson, MDDoctors who have taken bitcoins have found that doing so is both simple and relatively "unmagical," as San Francisco physician Paul Abramson, MD, put it.
Abramson, founder of My Doctor Medical Group, is a former software programmer and trained electrical engineer with a significant personal interest in privacy.
It was privacy that drew him to learn more about bitcoins. Early assessments of the technology suggested the bitcoin exchange system had significant anonymity protections that could augment existing medical privacy laws and allow patients who sought the ultimate discretion a nearly invisible form of payment.
http://www.bostonglobe.com/business/201 ... story.html
You can buy bitcoins at South Station
The ATM at Boston's South Station snatched the money from my hand and didn¡'t even give me a receipt. But my smartphone's green glow let me know I had just invested $5 in the world's most controversial, questionable, and exciting new currency, the bitcoin.
The machine, which is the first of its kind in Boston, was officially plugged in Wednesday morning right next to Pinkberry and began spewing bitcoins, virtually.
You can think of it as Internet cash, said Chris Yim, cofounder of Liberty Teller, the Boston company that operates the new bitcoin ATM. This is just a more secure way of buying things online.
How bitcoin works It is also confusing to many people. That ¡s why a Google search turns up such posts as, How to explain bitcoin to your grandmother, and, What the heck is a bitcoin?
The five-year-old currency is not backed by any central government, but can be spent just like dollars in a small but increasing number of places, including some local restaurants and the popular online retailer Overstock.com.
Bitcoins are stored by users in so-called digital wallets, and each coin has a unique online address. Transactions are managed by thousands of computers linked in a worldwide network, helping to ensure their integrity.
There is also the benefit of privacy. While purchases are shared with the entire network, creating a permanent record, users don't have to personally identify themselves the same way someone handing over cash at a register doesn't have to provide the clerk with a name. The hackers who stole millions of credit card numbers from Target during the holiday season would have a much tougher time cracking the bitcoin code.
http://www.bostonglobe.com/business/201 ... story.html