{"id":246,"date":"2014-05-28T16:44:00","date_gmt":"2014-05-28T16:44:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/bitcoin-backers-work-to-make-i\/"},"modified":"2014-05-28T16:44:00","modified_gmt":"2014-05-28T16:44:00","slug":"bitcoin-backers-work-to-make-it","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2014\/05\/bitcoin-backers-work-to-make-it.html","title":{"rendered":"Bitcoin backers work to make it mainstream"},"content":{"rendered":"
\nWhen Bitcoin emerged five years ago, it was the payment system many
\ngeeks and enthusiasts had dreamed of: an international, decentralized,
\nanonymous, and transparent virtual currency that could potentially
\nreplace inefficient traditional ones.<\/b><\/i><\/div>\n
\n<\/div>\n
\n<\/a><\/div>\n
\n<\/b><\/i>(Forbes<\/a>) As investor Andy Kessler recently wrote<\/a> in
\n the Wall Street Journal, Bitcoin<\/a> participation requires \u201ca certain
\nfaith in the benevolence of strangers.\u201d But instead, the general public
\nis ambivalent at best about the virtual currency, while
\nmany Bitcoin-related startups fight an uphill battle to convince the
\nworld that it is at least comparable to its established counterparts, if
\n not better. Some retailers are pro-Bitcoin as well. Overstock.com and
\nTigerDirect now accept it as payment.<\/div>\n
\n<\/div>\n
\nAnd three weeks ago, Cameron and Tyler Winklevoss, famous for having been portrayed in the movie The Social Network<\/i>, disclosed that they would list a Bitcoin exchange-traded fund<\/a> on the Nasdaq. The Winklevoss Bitcoin Trust aims to make investing in bitcoins as easy as buying shares of a public company.<\/div>\n
\n<\/div>\n
\nThe Winklevoss twins, who have themselves been Bitcoin investors for
\nsome time, are also bullish on the future of the digital currency and
\nbelieve there should be easier ways to invest in it. They established
\ntheir fund for people who are eager to invest in the currency, but who
\ndon\u2019t want to actually own bitcoins. Their first-of-its-kind
\nexchange-traded fund can be bought and sold on the public markets like a
\n stock or an index fund. Previously, people interested in trading
\nbitcoins as an asset class had to store the currency themselves and take
\n on the risk that goes with that. The brothers were recently quoted
\nsaying their business will remove \u201cthe friction of buying\u2026while offering
\n similar investment attributes to direct ownership\u201d.<\/div>\n
\n<\/div>\n
\nWhether they rally Bitcoin adoption or not, they certainly remove some
\nlongstanding obstacles to its viability as a consumer product. It\u2019s
\nlikely that in the coming months new services will continue to emerge
\nthat aim to make Bitcoin mainstream.<\/div>\n

Open your free digital wallet here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n","protected":false},"excerpt":{"rendered":"

When Bitcoin emerged five years ago, it was the payment system many geeks and enthusiasts had dreamed of: an international, decentralized, anonymous, and transparent virtual currency that could potentially replace inefficient traditional ones. (Forbes) As investor Andy Kessler recently wrote in the Wall Street Journal, Bitcoin participation requires \u201ca certain faith in the benevolence of strangers.\u201d But […]<\/p>\n","protected":false},"author":1,"featured_media":809,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,76,299,468,679],"tags":[764,975,1126,1332],"yoast_head":"\nBitcoin backers work to make it mainstream -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/holytransaction.com\/blog\/2014\/05\/bitcoin-backers-work-to-make-it.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin backers work to make it mainstream\" \/>\n<meta property=\"og:description\" content=\"When Bitcoin emerged five years ago, it was the payment system many geeks and enthusiasts had dreamed of: an international, decentralized, anonymous, and transparent virtual currency that could potentially replace inefficient traditional ones. 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