The clock is ticking on Bitcoin

June 17, 2011: 12:29 PM ET

With recent exposure bringing the online currency to the attention of wary lawmakers, expect to see Bitcoins disappear. But it may take a while.

By Daniel Roberts, reporter

FORTUNE -- If you want a chicken burrito from Meze Grill in midtown Manhattan today, you can fork over $8.75 or give them about half a Bitcoin. The restaurant began accepting Bitcoin Tuesday and its owner is excited, although so far not a single customer has paid this way.

Bitcoin is an unregulated, peer-to-peer currency that only exists online; it sounds like a concept out of Mario games or The Matrix. It was started in 2009 by a programmer known by the pseudonym Satoshi Nakamoto. And a few weeks ago most people had never even heard of Bitcoins.


See full article