Bitcoin Concept Is Gaining Currency
Entrepreneurs and venture capitalists are pouring money into Bitcoin, and an upcoming Silicon Valley conference will convene Bitcoin advocates to discuss the virtual currency’s progress and what must happen for its prosperity to continue. Subjects to be covered at the event include security, financial regulations, business development, and new opportunities for Bitcoin. “I think we’re starting to see Bitcoin moving out of the shadows of the Internet into something that becomes more mainstream,” says venture capitalist Jeremy Liew. Venture capitalist Alex Ferrara concurs, noting “the conversation has shifted from whether or not [Bitcoin] can succeed to questions of how big it can get and what can be done to promote the ecosystem and associated regulation.” Bitcoin’s appeal resides in the fact that it is not controlled by any company or government, and also offers zero transaction costs because no bank or credit card firm runs the system. Entrepreneurs are founding companies that provide more infrastructure for Bitcoin trading, selling, storage, and spending. Still, supporters agree the currency will need to address security issues and other formidable challenges if it is to gain further acceptance.
From “Bitcoin Concept Is Gaining Currency”
Los Angeles Times (05/17/13) O’Brien, Chris