Bitcoin has been the talk of the town lately since the Unite States Senate stated that Bitcoin was a “legal means of exchange” over a week ago. From then on, the value of one Bitcoin has soared to as high as $900 USD.
There has been some debate on whether there is longevity in this virtual currency and if Bitcoins can break into the mainstream. Regardless, people have found some interesting ways to use Bitcoins and we are here to list some of them.
According to CoinDesk, Korean startup Coinplug recently announced that it closed an investment round of $400,000. Half of that was paid in Bitcoins, the other half in fiat money from Cupertino-based fund SilverBlue.
Forbes recently listed the Top 10 merchant sites whom are currently accepting bitcoin as payment. The list included notable sites including WordPress, The Pirate Bay, Reddit, OkCupid, and 4chan.
We recently reported that a Subway owned by 24 year-old graduate student Sapan Shah accepts Bitcoins as payment from customers. Entrepreneur Andrew Torba recently wrote on medium documenting his experience paying for his Subway sandwich using bitcoins.
Two days ago, CheapAir.com announced that it has become the world’s first online travel agency to accept bitoin as a form of payment. According to CheapAir’s official press release, Jeff Klee, CEO of CheapAir had this to say:
“…the idea to offer bitcoins came from a customer who asked one of the company’s Travel Advisors if CheapAir would accept payment in bitcoins. “The question reached me, I discussed it with our team, and we all got very excited about being the first in the industry to embrace this cool new way to pay,” said Klee.”
Early this month, South Florida company Vanity Cosmetic Surgery announced in a press release that they will be able to use Bitcoin to pay for their services.
“What does this mean to patients? They can now use their loaded Bitcoin account to pay for a breast augmentation or a nose job, or maybe a laser hair removal treatment. This will definitely transform the way people will choose their doctors in the near future.”
According to Yahoo News, a Norwegian man who purchased $24 worth of bitcoins about 4 years ago was able to purchase an apartment in Central Oslo due to the recent massive increase in the value of bitcoins.
“In 2009, Kristoffer Koch was doing research on encryption and on a whim decided to invest a small sum in the recently created bitcoins — a means of payment over the Internet.
Koch, now 29 and working as an engineer, only remembered the investment in April of this year when he read an article about the soaring value of bitcoins.
His 5,000 bitcoins were suddenly worth around $690,000 (500,000 euros).
After spending a full day trying to remember his password, Koch cashed in 1.1 million kroner (135,000 euro, $186,000), by selling a fifth of his newly acquired fortune.”
In a recent Forbes article, staff writer Andy Greensburg received an encrypted email from someone calling himself by the pseudonym Kuwabatake Samjuro who introduced him to Assassination Market, an online crowdfunding service that lets people anonymously contribute bitcoins towards killing government official.
Currently, the largest bounty on the targets Ben Bernanke, chairman of the Federal Reserve. About $75,000 worth of bitcoins have been raised for a hitman to assassinate him.
Although the notorious Silk Road website is dead. A new website aiming to resurrect the online black market for drugs recently came live early this month. The website is creatively called “Silk Road 2.0” and promises to be an improved version of it’s predecessor. I guess in the end, you can’t beat the internet.
About 3 days ago, the University of Nicosia became the first college in the world to accept Bitcoin for tuition and other fees. According to Digital Trends, the University currently charges between $6,700 and $33,600 for tuition depending on the program. This would equate to about 49 Bitcoins per year at its current price.
In a recent blog post, Richard Branson announced that Virgin Galactic will now be accepting bitcoins to pay for a trip to space. With the current cost being $250,000 per ticket, this would equate to about 322.5 bitcoins.