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News Link • Bitcoin

Bitcoin gets easier for consumers to buy, spend

• http://www.mercurynews.com, By Heather Somerville
With each passing month, Bay Area entrepreneurs are rolling out new technology for consumers to buy and store bitcoin, shop online with the virtual currency and send it to friends. Last week, a bitcoin ATM was unveiled in Mountain View -- 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 bitcoin is bought and traded on global Internet exchanges.

 

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