Local Bitcoin users can now use their crypto-currency savings to buy pork rinds and deodorant from New Zealand's first dedicated digital currency store. <\/p>\n
Bitcoin is a virtual currency which operates independently of any government or central bank, with a limited number of new coins able to be unlocked or \"mined\" each year. <\/p>\n
Christchurch-based start-upBitmart.co.nzoffers an eclectic range of groceries and electronics, from chocolate to instant noodles to dishwashing liquid. <\/p>\n
The goods are priced in both New Zealand dollars and Bitcoin, with a jar of Vegemite priced at $4.50, or 0.0088 Bitcoins. <\/p>\n
Store founder Chris Dawson said he had been blown away by the volume of orders and positive feedback he had received so far. <\/p>\n
\"The enthusiasm of the growing Bitcoin community and their eagerness to help establish a thriving digital currency economy in New Zealand really solidifies my belief that Bitcoin is here to stay.\" <\/p>\n
Bitcoin has a volatile valuation, which has more than halved since peaking above US$1000 (NZ$1157) in December last year. <\/p>\n
The crypto-currency lost some of its lustre after the high-profile collapse of one of the world's biggest exchanges, Mt Gox. <\/p>\n
It is also facing a host of competitors, including Litecoin - known as the silver to Bitcoin's gold- and even the satirical Dogecoin. <\/p>\n
Bitmart accepts payments in what it calls the \"new and weirdly fascinating\" Dogecoin, which started off as a joke based on an internet meme. <\/p>\n
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Kiwi bitcoin shop open for business<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Local Bitcoin users can now use their crypto-currency savings to buy pork rinds and deodorant from New Zealand's first dedicated digital currency store. Bitcoin is a virtual currency which operates independently of any government or central bank, with a limited number of new coins able to be unlocked or \"mined\" each year. Christchurch-based start-upBitmart.co.nzoffers an eclectic range of groceries and electronics, from chocolate to instant noodles to dishwashing liquid. Continue reading