Will you Accept Payment in Bitcoins?

Bitcoins are decentralized digital currency. The idea was introduced in 2008 by Satoshi Nakamoto (which may be a pseudonym for one or more programmers). They are issued online and no more than 21 million bitcoins will ever be created. Each coin is tracked by a ledger which records every single bitcoin transaction. Its proven to be volatile and its value jumped from $13 in January 2013 to over $1,200 in December 2013. Bitcoins can only be generated online and can be stored with an electronic signature for each user and used for payments by those that will accept them.

An increasing number of merchants have accepted Bitcoins, including retailers and now, some law firms. Amsterdam-based Peter Plasman of Plasman CS Advocaten has said it will accept them and South Carolina lawyer David Aylor accepted a bitcoin payment. This was the first bitcoin legal fee in the US. Manhattan firm Nesenoff & Miltenberg announced last year that it would also accept the bitcoin as payment.
The bitcoin has however come under a lot of criticisms. China has rejected its use all together and Finland says it lacks the characteristics of money. Paul Krugman, nobel prize economist, is also not a fan.

In any case, you may well come across them soon ....