Online Retailers Accept Bitcoin Payments - Page 2
It was created in 2009 by a programmer supposedly named Satoshi Nakamoto. Is Nakamoto a state-sponsored programmer? No one knows for sure.
There appears to be immense uncertainty regarding its widespread use in the marketplace. Conservative investors, such as Tom Dyson, have remained skeptical of late arriving speculators and traders looking to Bitcoin as a tradable commodity instead of a global, liquid instrument.
The currency’s viral popularity have encouraged financiers, traders, and speculators to trade in Bitcoin, and the mass infusion of investment capital has led to an extreme volatility in its value. Last week, some investors suffered tremendous losses after Bitcoin’s value dropped by nearly 80 percent in 24 hours.
It reached an all-time high of $266 to a U.S. dollar before crashing to $55 in just a few hours. Less than a year ago, Bitcoin was worth less than $30 per U.S. dollar.
Recently, the U.S. Treasury Department has sent signals that it wants to regulate the virtual cash. The government’s motivation seems to be its ability to fence in taxable revenue as well as prevent illegal activities such as money laundering and the drug trade. Some blogs have even speculated that Bitcoin is a conspiracy by the Central Intelligence Agency (CIA) for electronic spying purposes.
How will Foodler and OkCupid affect consumer purchase behavior as well as retail adoption of the technology? The market - and speculators - are observing.