TechHive: Are bitcoin's chances of acceptance getting better?

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thumbnail Are bitcoin's chances of acceptance getting better?
Jan 18th 2014, 18:47, by Randal Jackson, Computerworld New Zealand

Many countries are still grappling with the issues of crypto-currencies such as Bitcoin, of which there are at least 70. China's central bank, for example, has ordered financial institutions to halt Bitcoin-related services and products.

With the value of Bitcoin increasing to more than $1000 this month after social gaming firm Zynga said it would begin accepting the virtual currency as payment, the question is: can crypto-currencies can become real currency?

From the perspective of the Reserve Bank in New Zealand, crypto-currencies are not currency, or more specifically not legal tender. They are payment systems.

A bank representative says the consistent message emerging from central banks and governments around the world is:

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