TweakTown
Tech content trusted by users in North America and around the world
6,200 Reviews & Articles | 40,014 News Posts

bitcoin is slowly but surely going mainstream with consumers

The bitcoin cryptocurrency hasn't had smooth sailing, but is continuing to gain steam among consumers and online businesses willing to accept payment

| Business, Financial & Legal News | Posted: Apr 6, 2014 3:34 am

The bitcoin cryptocurrency has hit a few bumps in the road, but consumers now find it easier to make purchases and spend their bitcoins online. Silicon Valley startup companies are going beyond simply trying to mine and own bitcoins, and want to focus on apps and services for consumers to use.

 

TweakTown image news/3/6/36808_01_bitcoin_is_slowly_but_surely_going_mainstream_with_consumers.jpg

 

The US Internal Revenue Service (IRS) recently ruled that bitcoins are property, not a real currency, while other countries are struggling how to deal with the digital currency.

 

"It's all about to change over the next 12 to 24 months," said Marshall Hayner, a Silicon Valley entrepreneur hoping to bank on bitcoin with a QuickCoin app. "We are going to see all kinds of people adopt it. It's going to power transactions on the Internet."

 

Although first introduced in 2009, it was only the past two years that helped bitcoin progress and garner major news headlines. However, the demise of Mt. Gox and other bitcoin exchanges suffering data breaches that led to lost currency, as malware attacks will only increase.

NEWS SOURCES:Mercurynews.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases