15 Jun '13, 2am

Bitcoin And Litecoin Now Accepted By Aussie Electronics Retailer Millennius

Bitcoin And Litecoin Now Accepted By Aussie Electronics Retailer Millennius

It remains to be seen whether Bitcoin will ever attract the widespread acceptance its proponents desire, but with retailers slowly adopting the crypto-currency as a legitimate form of payment, it is serving its purpose as currency for some parts of the online world. Now, a local retailer, Millennius, has added not only Bitcoin, but its smaller derivative Litecoin, as a valid way to purchase goods from its online store. We’ve talked about the innards of Bitcoin previously , but put simply, it is an online currency managed by a peer-to-peer network, rather than a central authority. This network not only creates new coins (of which only a limited number can be produced), but maintains a history of every transaction and approves future transactions via a computationally complex proof-of-work system. In Millennius’ announcement , it states that it “believes it is the first onli...

Full article: http://www.gizmodo.com.au/2013/06/bitcoin-and-litecoin-no...

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