Catch up on stories from the past week (and beyond) at the Slashdot story archive

 



Forgot your password?
typodupeerror
Bitcoin

Submission + - With euro zone problems, Bitcoin experiencing boost in legitimacy (vice.com)

derekmead writes: Despite being used for drugs and beef jerky, Bitcoin is finding legitimate purposes. Bitcoin’s decentralized convenience means international efficiency, in areas where local restrictions on money transfers to foreign companies make legal businesses cumbersome. “I’ve been able to have cash in my bank account in a matter of hours using Bitcoin, rather than three days with traditional banking,” one British businessman in China told Reuters.

In embattled Europe, Bitcoin offers some a viable alternative against central banks, said a Greek owner of an island bar and restaurant who accepts payment in Bitcoin. “I don’t put money in the banks,” Gerald, who did not give his surname, told Reuters. “I trust the euro as a note, but I don’t trust banks. I don’t want them making money out of my earnings.” Indeed, Europe’s financial woes are caused an unprecedented surge of interest in the alternative currency, as the continent loses economic credibility with each new bailout, according to a report by the Financial Post.

This discussion was created for logged-in users only, but now has been archived. No new comments can be posted.

With euro zone problems, Bitcoin experiencing boost in legitimacy

Comments Filter:

The rate at which a disease spreads through a corn field is a precise measurement of the speed of blight.

Working...