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Have BitCoin to Burn? Next Stop the Farmer's Market

Heather Wetzler

For food producers who sell directly to consumers, credit cards are both a blessing and a curse.

They're a way to do business with cashless customers, but 3 percent of every credit card sale is usually charged to the farmer as a transaction fee. That adds up in a high-volume, low-profit business like agriculture.

The extra fee has farmers looking for a solution to save money; a few are finding one in Bitcoin, a type of cryptocurrency: digital money that doesn't exist in the physical world.

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  • Ritu Pant

    I truly see bitcoin as the future. I have been reading news where a museum, a university and small businesses have started accepting bitcoins as a form of payment. I think we have a long way to go but the coming years should be big in terms of adoption as it has started gaining mainstream exposure. There was actually a senate hearing on bitcoins a couple days ago which for the most part was quite positive.

    • Alessandra Rizzotti

      Wondering if there's a monopoly on investing bitcoin back into U.S. dollars. Felsted converts it back into U.S. currency for a lower fee than farmers would be charged accepting credit cards, but what other companies do that? Seems like the government could take charge on this, which might be why the senate hearing went well? Would be interested to see how that plays out in the stock market- or is bitcoin free of getting involved in that?