Despite the fact that the Securities and Exchange Commission warned early adopters of bitcoin that the cryptocurrency is prime for scammers and other ne’er-do-wells looking to take advantage of people, it seems it’s still catching on with a wider audience. Joining the bitcoin ranks this week is Dish Network, which said it will start accepting bitcoin payments from customers soon.
The satellite TV operator said it’ll take bitcoin from those customers who want to pay their bills with it starting July 1, reports Reuters.
Dish is now keeping company with businesses like Overstock.com, Zynga and even NBA team the Sacramento Kings, who also all accept bitcoin as legal tender for goods.
Dish will be using Coinbase as the payment processor for any bitcoin transactions customers perform online to pay their bills, using whichever bitcoin wallet they’d like.
Again, bitcoin isn’t backed by any government or central bank and is instead bought and sold on a peer-to-peer network.
There’s a lot of skepticism out there from the U.S. government and others as well, especially in light of the bankruptcy of Mt. Gox, the one-time biggest player on the bitcoin exchange scene. It stopped trading in February after hackers cracked its computer system and stole nearly half a billion dollars worth of the currency.
For more on the basic facts of bitcoin, check out our guide to the cryptocurrency.
Satellite TV operator Dish Network to accept bitcoins [Reuters]
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