Wednesday, April 2, 2014

Colorado Congressman Takes Bitcoin To Capitol Hill

In a move that will not surprise denizens of technology-savvy Colorado, Congressman Jared Polis is spearheading an effort to educate lawmakers on Bitcoin--by inviting a maker of Bitcoin ATMs to exhibit on Capitol Hill. According to company Robocoin, it will set up a portable, Bitcoin ATM at the Rayburn House Ofice Building next week, on the invitation of Polis--a Boulder native whose prior technology success includes Blue Mountain Arts and Provide Commerce. Polis was elected to Congress representing the second Congressional district of Colorado in 2008. Polis is also one of the original founders of Boulder technology accelerator TechStars. Bitcoin is an electronic currency, which is not controlled by any government, and derives its value from a combination of complex mathematical formulas required to "mine" new Bitcoins, and the acceptance of the currency by businesses and individuals for online transactions.