User uShare Login | Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.

72° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options




[0] My Saved Articles
Find local businesses
on the KELO Pages!


Bitcoin: New Wave Of Currency

February 19, 2014, 7:09 AM by Stephanie Gregory

Bitcoin: New Wave Of Currency

In recent months, Bitcoins have become more mainstream. Even now online retail sites like, dating sites like and Etsy vendors are accepting Bitcoins.

A Bitcoin is like cash but it's virtual money in the Internet world. The crypto-currency is digital property that can be transferred from one person to another without a middle man getting involved

"Bitcoin is a virtual currency. You don't touch it, you don't hold it and you don't see it. It lives in a series of ones and zeros," Click Rain's Paul Ten Haken said.

Ten Haken says Bitcoins are mined by using computer software to solve complex math problems. The digital money is becoming a way of life.

"More and more places are realizing it's a legit way of paying for things and starting to enact Bitcoin transaction acceptance at their point of sale," Ten Haken said.

Bitcoins have a key and password made up of a series of numbers and letters. The downside is that if you lose that information, you are out of luck.

"Some Bitcoin strings may be worth $50,000 and if that key and the password to that key get lost, someone lost $50,000. It's like losing a stack of $50,000 in dollar bills on the street. You can't report it, you can't get it back," Ten Haken said.

Ten Haken says he doesn't know if Bitcoin will last, but he sees crypto-currency somewhere in our future.

"I don't know if Bitcoin itself is the future, but I think digital and virtual currency defiantly has a place and we're going to be hearing more about virtual currency in years to come," Ten Haken said.

Previous Story

Next Story


Find Local Businesses on KELO Pages!

View news

You may also like

Sutton Bay CEO Dies In UTV Rollover Crash

8/25/2014 2:34 PM

The CEO of Sutton Bay Resort in central South Dakota died after rolling his 2014 Polaris Ranger late Sunday night.

Full Story
Authorities Search For Missing Inmate

8/24/2014 10:43 AM

31-year-old Bridget Franzen failed to report to a work release job on Saturday, August 23.

Full Story
SF Mother, Daughter Admit To Large Drug Conspiracy

8/27/2014 10:54 AM

Faith Rasmussen, 21, and her 55-year-old mother Theresa Rasmussen admit they were bringing marijuana from California to South Dakota and distributing ...

Full Story
Car vs. School Bus Crash Near Inwood, Iowa

8/26/2014 11:31 AM

Authorities in northwest Iowa are investigating a serious crash involving a car and a school bus.

Full Story
SF Drug Ring Involved 220 lbs. Of Marijuana

8/27/2014 5:48 PM

Her boyfriend was killed during a botched robbery in December in northwest Sioux Falls. Faith Rasmussen and her mother, Theresa, have now pleaded guil...

Full Story | Watch