RAPID CITY, S.D. (AP) - The owners of a coin and precious metal shop in Rapid City say they are the first in the Black Hills to accept bitcoin for purchases.
Bitcoin is digital currency that can be sent electronically from one user to another anywhere in the world. It operates outside of the traditional banking system and is run by a decentralized network of computers, not by an individual or business.
Nathan Harding and Don Smith co-own Rushmore Coin and Heroes and Villains Collectibles. Harding tells the Rapid City Journal he believes trading by virtual currency is still in its infancy, even though bitcoin was established in 2009. Harding says he understands the confusion and controversy surrounding bitcoin.
___
Information from: Rapid City Journal, http://www.rapidcityjournal.com
Please read our comment policy before commenting.