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.

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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. --------

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