13 Nov '13, 7pm

A new bitcoin wallet is collecting donations for the Philippine Red Cross.

A new bitcoin wallet is collecting donations for the Philippine Red Cross.

A U.S.-based Bitcoin exchange has set up a wallet to collect donations for victims of the typhoon in the Philippines. NEW YORK (CNNMoney) As governments and companies around the world pledge millions of dollars to support relief efforts in the Philippines, Bitcoin users are also doing their part. Avish Bhama and Sean Lavine, founders of U.S.-based Bitcoin exchange BitMe, have created the Philippines Typhoon Relief Bitcoin Wallet to collect donations for the Philippine Red Cross. Bhama and Lavine said in a note to fellow Bitcoin adopters that they wanted to change the "erroneous" perception that the virtual currency is "only used for facilitating illegal activity." Just last month, the FBI shut down the online drug bazaar Silk Road , which only accepted the digital currency for payments. Bhama said he came up with the idea to create a special wallet Tuesday night after read...

Full article: http://money.cnn.com/2013/11/13/investing/bitcoins-philip...

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