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Apr 20, 2014

Bitcoin: Making sense of noncents

Posted by in category: bitcoin

The next time you grab a sandwich, order a pizza or pay for IT services, you may not have to reach for your wallet. Instead, you could have the option of paying the bill with bitcoins.

Businesses including the Bronx Deli in Farmington, Dynamic Technologies in Livonia, Athena Coney Island in Novi and Papa Romano’s in Troy affirm the use of bitcoin currency. According to, a website that tracks the businesses using it, there are at least 10 in the area that accept bitcoin.

Bitcoin isn’t regulated as a currency or security, though federal regulators, most recently the Securities and Exchange Commission, have raised red flags about it. In March, the SEC sent an inquiry and data request to the currency’s creator, an elusive person or group known as Satoshi Nakamoto. Nakamoto doesn’t believe the SEC has any legal grounds.

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