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Bitcoin Economy Now Worth $1 Billion

Written by:
Aaron Goldstein
Published on:
May/23/2013
Bitcoin Economy Now Worth $1 Billion

The Bitcoin economy is now worth a whopping $1 billion and, despite a few near death experiences, continues to grow.  

This past weekend, some 1000 people attended the Bitcoin 2013 event in San Jose, California. 

"If I were you, I’d buy as many Bitcoins as possible before the end of the conference," Cedric Dahl, one of the founders of the Bitcoin exchange Buttercoin told Adrianne Jeffries of The Verge.  The suggestion being that attention paid to the conference by some mainstream media outlets would cause the price of Bitcoin to jump once again.

Among those outlets, CNN made an interesting observation.

The power of all the computers networked together to maintain the digital currency's system far exceeds the combined processing strength of the top 500 most powerful supercomputers.

Stacy Cowley notes that Bitcoin’s infrastructure is its most fascinating aspect.

The crypto currency dreamed up in 2009 by a still-anonymous hacker is now one of the world's most expansive large-scale computing pioneers.

The online gambling world hasn’t quite caught on as one would have expected it to at this juncture in time.   Lock Poker CEO Jennifer Larson has said her company is seriously looking at Bitcoin as a payment option, but nothing concrete yet.

Sealand may beat the sector to the punch. 

The tiny little fort and self-proclaimed nation in the waters off the UK coast is exploring its Bitcoin options

“Yes, we are looking at ways to do it securely. Also bitcoin sounds really interesting if they stabilise,” Prince Michael Bates, Sealand's leader, “Prince Michael” Bates, said.

- Aaron Goldstein, Gambling911.com

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