This small Washington town is printing its own currency. Here’s why

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Bryan Fisher, 16, left, and Stephen Smith, 15, of Tenino, Wash., keep occupied by playing video games in a stall near their cattle at the Puyallup Fair in Puyallup, Wash., Wednesday, Sept. 17, 2003. The largest fair in Washington will continue through Sept. 21.

 A small town in the state of Washington decided to print its own currency amid the coronavirus pandemic, according to The Hustle.

What’s going on?

Tenino, Washington, has decided to release its own currency during the coronavirus pandemic, which damaged the city completely.

The pandemic hurt local businesses. “Residents couldn’t afford groceries. Long lines snaked outside the local food bank. For more than a month, the downtown area looked almost abandoned,” The Hustle reports.

And then it happened: the town’s mayor, Wayne Fournier, encouraged the town to create its own currency. He put $10,000 aside to release to low-income residents.

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PayPal, Bitcoin, and the future of digital currency adoption

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PayPal announced several partnerships, recently, aimed towards enabling certain PayPal merchants to be able to accept bitcoin as a form of payment from their customers. This was a significant announcement on multiple fronts as many had wondered if and what PayPal’s foray into the cryptocurrency space would be.

 

 

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MIT researchers can predict the price of Bitcoin

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Do you want to know when to sell Bitcoin?

A researcher at MIT has come up with a way to use machine learning to predict the price of the Bitcoin virtual currency. With his system, you could figure out when to sell the remaining Bitcoins you have in order to minimize your loss or maximize your gain. Or you could find out the right time to buy.

 

 

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Bitcoin isn’t just for anarchists and libertarians anymore

Bitcoin

Consumers are embracing the digital currency even though the value of Bitcoin has fallen 55% against the dollar.

Earlier this year Mary Fons joined the Bitcoin economy. She uses the digital currency to buy gift cards and office supplies. Her partner reimburses her with Bitcoin for his portion of the rent. Thirty-five year old Fons isn’t a nerd or a self-proclaimed libertarian like many of the currency’s early adopters. She lives in New York and co-hosts the Love of Quilting show on public television. “Why Bitcoin?” she asks. “Because I want to have options. I think it’s a beautiful thing open to everyone.”

 

 

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Bitcoin will go far beyond payments in the future

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Bitcoin and other digital currencies have captured the attention of the media, entrepreneurs, and regulators. The coverage has described exchange meltdowns, price volatility, and government crackdowns. However, the focus on Bitcoin as a currency may distract businesses and governments from its disruptive impact: as a technology.

 

 

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Bitcoin is not only digital currency, it’s Napster for finance

bitcoin

Bitcoin will start its transformation from a mere currency into an entire open-source.

Bitcoin’s valuation didn’t just skyrocket in 2013, but its infrastructure, services, and adoption exploded as well, culminating in recent announcements that major online retailer Overstock.com and NBA team the Sacramento Kings would accept the digital currency as payment.

 

 

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