Bitcoin ATM at Capitol Hill is First Bitcoin ATM

Capitol Hill, a metonym for the United States Congress [metonym is a figure of speech in which a thing or concept is called not by its own name but rather by the name of something associated in meaning with that thing or concept], is the largest historic residential neighborhood in Washington D.C, the pace where power sits in USA.

Amidst all the skepticism and fear or Bitcoin, a digital decentralised virtual currency , Robocoin, the company behind Bitcoin launched their first ATM at Capitol Hill Washington DC.

What is Bitcoin? Bitcoin is a digital decentralised virtual global currency which is functional every in the World (as it's virtual). One can use Bitcoin to buy stuff and pay for services. To get Bitcoins, a person has to buy Bitcoins with the currency of their country. Once doe he/she can use those Bitcoins for currency transactions anywhere in the World. The value of a Bitcoin against any currency is not regulated by any country (that's why Bitcoin is a decentralised currency).

Is Bitcoin popular?

Yes it's. In 2010 , i.e. four years ago, one man paid 10000 Bitcoin for two pizzas. If that gy wouldn't have spent those Bitcoins on Pizza, then today he would have $7 million. One Bitcoin today stands at 457 USD.

Is Bitcoin Risky? and if Yes then why?

Inaugurating the First Bitcoin ATM , the Robocoin CEO shows, how to use Bitcoin ATM to members of Congress, the rich and powerful of Capitol Hill; but U.S. Attorney General Holder warns against "those seeking to conceal illegal activity." Deborah Lutterbeck reports.

Reuters tells the world's stories like no one else. As the largest international multimedia news provider, Reuters provides coverage around the globe and across topics including business, financial, national, and international news. For over 160 years, Reuters has maintained its reputation for speed, accuracy, and impact while providing exclusives, incisive commentary and forward-looking analysis.

Skepticism aside, many virtual currency startups , which are building their user base with free accounts and joining incentives, are converting themselves to BitCoin, which means that they are seeing a real potential in a digital decentralised virtual global currency. --------

No comments