Bitcoin got a huge financial and symbolic boost this week with news of the biggest ever investment into a bitcoin business called Coinbase. But for the currency to last, it has to show that it can find a use beyond speculation, and that Bitcoin’s guardians can help it become a consumer product.
Bitcoin suffers two big problems when it comes to consumer adoption: retailers are unfamiliar with it, and shoppers have no incentive to spend it. A rewards program by gift card site Gyft shows how this could change.
Bitcoin is more liquid and popular than ever before — though the cyber-currency remains controversial. Here’s a round-up of a busy week of Bitcoin news.