Dish Network is tuning in to Bitcoin to become the first major television service provider to allow customers to pay their bills with the cryptocurrency.In announcing the news Thursday, Dish proclaimed that it is the largest company yet to accept bitcoins as it gets ready for customers to start settling their tabs with the digital currency in the third quarter of 2014. Bitcoin won’t replace traditional credit or debit cards or the use of bank accounts to make payments, Dish added. It can only be used on one-time payments.Bitcoin has slowly marched towards legitimacy, thanks to its worldwide popularity. At its height in the last several months, a single bitcoin was worth more than $1,000. As of this writing, Bitcoin’s conversion rate comes in at around $568. The technology behind Bitcoin is complex, but its goal quite simple: to eliminate the chances of someone being able to determine who is actually transacting in the currency. That anonymity has made Bitcoin somewhat of a non-starter for major companies fearing that they won’t be able to identify the individuals actually making payments. Dish’s support for the currency, however, gives it yet another legitimacy boost.The cryptocurrency was hit hard earlier this year when… Read full this story
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