“If you've watched our video from today, you've caught a glimpse of the saga that was our attempt to buy and then subsequently sell a Bitcoin at SXSW. In retrospect, it wasn't a very bright idea. But we were curious, not only of the prospect of using cyptocurrency as a fungible good for making purchases, but also of the promised ability to turn Bitcoin into real cash dollars. Both of those goals were theoretically possible in that week in Austin, which had hosted a recent Texas Bitcoin Conference--spurring several local businesses (read: food trucks) to start accepting Bitcoin as a novel marketing tactic. Austin was also home to one of the first Bitcoin ATM operators in the nation, with no fewer than three places in the city to make automated in-person transactions. Yes, here was a machine that promised not only to slurp up your dollars to transfer fractions of Bitcoin to your digital wallet, but also let you cash out of virtual currency for Uncle Sam-backed bills.”
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