29 Jun '13, 4pm

Living large in Panama from my sudden Bitcoin fortune lasted shorter than I expected.

Living large in Panama from my sudden Bitcoin fortune lasted shorter than I expected.

A photo from the author’s Bitcoin-funded trip to Bocas del Toro. In March I flew from San Francisco to Panama City with less than $200 in my bank account. I wasn’t worried about my lack of funds. A week earlier, a guy I’d met online had bought me a plane ticket to help him crew a sailboat from the eastern end of the Panama Canal back to the states—and I had a stockpile of bitcoins that could support me down south. A year earlier, I’d bought a bunch of bitcoins at $4 per bitcoin after reading about the decentralized, unregulated, peer-to-peer currency . At this point, its only practical function still seems to be facilitating shady deals online and making fast cash for chubby guys who like to stare at computer monitors—but they say it has potential. I tested out Silk Road (the internet drug market) and bought some junk, but for the most part, my digital cash just sat there....

Full article: http://www.vice.com/read/living-off-bitcoins-in-panama-city

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