17 May '13, 12pm

Bitcoin concept is gaining currency

Bitcoin concept is gaining currency

But Bitcoin's growing popularity and a recent surge in value has caught the eye of entrepreneurs and venture capitalists, including some who are convinced that Bitcoin could be the biggest thing on the Internet since, well, the Internet itself changed our lives two decades ago. Now, Silicon Valley is about to perform its classic ritual to signify that a new technology, product or idea is ready to be taken seriously: It's holding a conference. This weekend, about 1,000 representatives of the growing Bitcoin economy will gather to discuss how far the currency has come, and what needs to happen next to fulfill what they see as its revolutionary promise. So far, Bitcoin has been used to buy games and virtual products from Internet merchants, and in some instances to reportedly move money for illicit purposes. Online exchanges have also sprouted up to trade the currency. "I thi...

Full article: http://www.latimes.com/business/la-fi-bitcoin-conference-...

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