Ever adventurous, Joy decided the only way to really get an idea of what Bitcoin was about, was to buy some. So she bought a bit.
Ever adventurous, Joy decided the only way to really get an idea of what Bitcoin was about, was to buy some. So she bought a bit.
At $4,000-plus per coin, she only bought a little bit of a Bitcoin. She bought $75 worth, which was a little less than 2 percent. With that little bit she bought a sweater from Overstock.com. It was $19.74. That left $54 worth of Bitcoin. She can go wild later.
So what is this all about? James Dimon, head of J.P. Morgan and Co., the largest bank in the U.S., says “It’s a fraud, a scam.” Well, Mr. Dimon is always worth listening to, but in this situation, he may be talking his book (his own interests), as they say in the investment biz. But the sweater is real and so was the transaction, so that wasn’t a scam. How did we get there?
Source/More: On Computers: A bit of a Bitcoin buys more than a sweater
