Public just not ready to accept bitcoin

Laura Baverman 10:03 p.m. EDT September 13, 2014

Bitcoin, the digital currency started in 2009, is facing a problem acquiring a different currency — the kind measured in wide public acceptance.

This currency deficit is perpetuated by the large conferences popping up in cities around the nation.

At one event I attended last month, I was surrounded by experts and enthusiasts debating regulation and privacy and discussing the idiosyncrasies of the technology that allows transactions with digital currency.

Besides a dozen or so marketers, the population was almost entirely software developers.

There was a single Bitcoin 101 session — at 9 a.m. on a Saturday. A few stragglers said they’d come in hopes of better understanding bitcoin. They left feeling as if they should have done more research in advance.

What I learned was that if bitcoin is ever to be understood and embraced by the masses, then it has to leave conference rooms and enter living rooms.

Bitcoin is an unregulated digital currency that provides a way for people to track, store and send payments over the Internet. Uncontrolled by any central bank or government, the global supply of bitcoin is generated — or “mined” — by a network of private computers around the world. People purchase bitcoin and manage their accounts in privately run online exchanges.

via Public just not ready to accept bitcoin.

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