03 Apr '15, 2pm

Turning Airline Miles Into Bitcoin? It's Possible as Alternative Currencies Edge Ahead

Turning Airline Miles Into Bitcoin? It's Possible as Alternative Currencies Edge Ahead

As we’ve previously reported, some consider airline miles a form of loosey-goosey variable shadow currency and attractive to hackers . Recent news continues to prove this is a serious concern. Part of the attraction for the shadier sector of society is that airline miles and loyalty program points can be traded for goods or cash. But another alternative currency—bitcoin—has joined the fray and its proponents suggest that the best value and safeguard for money is to take money out of the equation entirely. Bitcoin For Miles , a business unit of Bitcoin Brands Inc., proposes that travelers convert unwanted miles, and other reward points, into bitcoin in what the company describes as a “fast, discreet and now even more private” transaction. If that sounds a bit dodgy, the site’s FAQ provides answers. “Is selling miles legal?” Bitcoin For Miles asks. “There is no federal or st...

Full article: http://skift.com/2015/04/03/turning-airline-miles-into-bi...

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