You are here

That Jingling You Hear Is Bitcoin


Digested From “Real Estate Is Experimenting With Bitcoin, and I Bought One”
Inman News (02/03/14) Wiggin, Teke

Bitcoin is a new digital currency that continues to make headlines. Now, real estate firms are starting to embrace it. Using Bitcoin instead of dollars has certain advantages to both businesses and consumers. If they accept payments in Bitcoin, businesses do not have to pay pricey transaction fees to credit card providers. Consumers, meanwhile, can use it to make some purchases more cheaply. In less than three months, the number of businesses accepting Bitcoin has more than tripled from 669 establishments to 2,827 as of Jan. 29, reports Bitcoin Pulse.  

Third, the federal government has so far been open to allowing Bitcoin to exist. Late last summer, a federal judge ruled that Bitcoin "is a currency or form of money."  Furthermore, during Capitol Hill hearings in November, legislators and regulators seemed sympathetic to arguments that the government needs to be careful to avoid hampering the digital currency's growth.  Most recently, New York's top financial regulator held hearings to gather input from supporters and opponents alike for the purpose of creating rules for Bitcoin usage that would regulate the currency without squelching it.

Abstract News © Copyright 2014 INFORMATION, INC.