Don't miss an insight. Subscribe to Techopedia for free.


Web Roundup: It's Raining Bitcoin!

By Kimberly Crossland
Published: May 27, 2014 | Last updated: May 27, 2014 09:26:44
Key Takeaways

The continued proliferation of bitcoin raises the stakes as digital currency powers forward in the market.

Source: Cornelius20/
There’s no denying it - bitcoin is here to stay for the long haul. Although there were doubters early on, more people are quickly realizing that there may in fact be a place for digital currency. Now innovators are taking the leap to make this type of currency easier to buy and use. The numbers continue to back the claim that bitcoin is on the rise. But could there be a dark side to all of this? It’s all here in this week’s Web roundup. (And check out more of our content on bitcoin here.)

Go High Tech in Sin City!

There’s something unique about the sites and sounds of Las Vegas. From lavish shows, gourmet meals and fancy hotels, Sin City offers an escape to a world of its own. Now, it’s adding a new high-tech amenity to the list - the first bitcoin ATM to be located inside a casino. If you’re planning a trip to the strip soon, be sure to make a stop by the new ATM inside The D Las Vegas Casino Hotel. Here you can buy and sell currency, making it easier and more convenient to get some coins for your stay. The only thing it doesn’t support yet? Gambling.

Grab a Slice of Bitcoin

In 2010, someone in the U.K. ordered two Papa John's pizzas and sent them to Laszlo Hanyecz (a bitcoin programmer) in exchange for 10,000 bitcoins. At the time, that was only worth about $40. Today, it’s worth closer to $6 million. This marked the first time someone used bitcoin as payment for goods or services. Since then, May 22 is celebrated as "Bitcoin Pizza Day," where fans of the digital currency honor this first transaction by making their own bitcoin purchases. Pizza anyone?

With Bitcoin Becoming More Stable …

In November 2013, Bitcoin hit an all-time high of $1,000, and then proceeded to go through a valuation roller coaster ride. Now, as its value levels out around the $500 mark, more people are realizing that the future of this form of currency could be stronger than many initially thought.

The Future of Bitcoin is Bright …

One thing is for sure, bitcoin is becoming more and more of a household name. Although it’s not quite there yet, these folks sure think it’s on its way to being as well known, and as frequently used as the currency we have today. Pretty surprising, considering a few months ago, most people hadn’t even heard of the name bitcoin, let alone understood what it was.

… But There Could Be A Dark Side

It’s to be expected with any big, new idea and bitcoin's no exception - as the buzz around it grows, more people want to jump in and get their piece of the pie. Enter, Darkcoin. A cousin to bitcoin, this type of currency offers even more anonymity when purchasing goods or services. With more anonymity comes the bigger risk that Darkcoin will be the digital currency of the black market. That could prove valuable for bitcoin, making it the more respected form of digital currency. One thing is for sure: with Darkcoin’s value continuing to rise at a rapid clip, this is a must-watch competitor.


Share This Article

  • Facebook
  • LinkedIn
  • Twitter

Written by Kimberly Crossland

Profile Picture of Kimberly Crossland
Kimberly Crossland is a digital marketing specialist who has worked in the United States and abroad with technology companies. After graduating from the University of Arizona, she followed her passion for the fast-paced ever changing world of technology and now writes about up and coming trends and important information anyone in business must know about technology to succeed.

Related Articles

Go back to top