whats known and unknown

Can Bitcoin catch on with consumers? Gift card site says 3% reward will help

on November 22, 2013


Bitcoin is getting more buzz than ever thanks to an apparent thumbs-up in Washington this week, which triggered a new bout of speculative mania that saw the virtual currency brush $900. Now, if only someone could find a use for the stuff.

Recall that a big problem for Bitcoin is that it’s great in theory but, in practice, it’s not good for much besides speculating. A handful of places in New York and San Francisco accept it, but most retailers haven’t even heard of Bitcoin and, besides, it’s still much easier to pay by swiping a card.

One way this could change is by incentive programs like the one offered by online gift card service Gyft. The site, which offers users an online way to combine retail gift cards from places like the Gap and Target, is offering a 3% discount whenever someone uses its service to make…

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