2013-11-20 Morning Call - Bitcoin gets big boost from Valley merchant

[Photon939]

Hows about a nice front-page article?

Link to The Morning Call: http://www.mcall.com/business/mc-allentown-subway-accepts-bitcoin-20131119,0,408331.story

Drug dealers may use it for money laundering.

But to Sapan Shah, it's just another way to sell sandwiches.

Shah, owner of a Subway franchise near Dorney Park in South Whitehall Township, made news this week by accepting Bitcoin. The 24-year-old Emmaus High School and Lehigh University grad is one of the first brick-and-mortar merchants in the country to use the international virtual currency in lieu of U.S. dollars and cents.

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[symaxian]

Great, another brick-and-mortar store that accepts them. Though it's another Subway, all part of Subway's master plan to circumvent the current financial institution's distaste for sub-par sandwiches.

Nothing interesting in the article, seemed accurate until this sentence towards the end:

Eventually the supply of Bitcoins is programmed to peak, forever, at 21 million — though individual Bitcoins may be divided endlessly.

Hate to nitpick but the title has a typo.

[Photon939]

whoops, fixed

Accuracy is never perfect it seems, the ones they missed are pretty minor compared to some stories that are passed off as journalism these days 

[Rygon]

Nothing interesting in the article, seemed accurate until this sentence towards the end:

Eventually the supply of Bitcoins is programmed to peak, forever, at 21 million — though individual Bitcoins may be divided endlessly.

Perhaps I'm missing something, but what is inaccurate about that statement? It's actually kind of refreshing to see an article point out that the 21 million supply cap isn't a real issue because coins can be divided.

[TraderTimm]

Perhaps I'm missing something, but what is inaccurate about that statement? It's actually kind of refreshing to see an article point out that the 21 million supply cap isn't a real issue because coins can be divided.

Because there is a current limitation to how many times it can be divided. Any change to that would require the tacit support of EVERYONE running the new client, which given the world-wide spread of Bitcoin, wouldn't be an easy thing to do, if it was even possible in the first place.

Bitcoin valuation would have to be VERY high for us to even contemplate it, and frankly, even with BTC at some crazy number like $1,000,000 USD a coin, a satoshi is 1 cent in value. So, even if we went an order of magnitude higher the lowest unit value would be pretty small still.