East Side chiropractor Steven Schram isn't
your typical spine man. The intellectual adventurer has a Ph.D. in
chemistry and a passion for computer programming. But what really sets
him apart? The doctor is accepting Bitcoin, the nascent digital currency
backed by no government and recognized by few banks. It's a bit of a
risk, he admits. If the currency's value tumbles, he's out of luck.
On
the other hand, he hasn't had much opportunity for financial
derring-do. While he offers a 10% discount to patients who pay in
Bitcoin, no one has taken him up on the deal. "That's great," clients
say. "Now let me write you a check."
Most
folks still don't understand the currency, says Dr. Schram, who
envisions a brave new "Bitcoin economy." He's one of the prescient few
who got in early, before the value of a single coin zoomed to more than
$800. How early, and how much did he invest? Dr. Schram wouldn't say: "I
don't want it asked and I don't want it answered!"
Well,
I'm not afraid to disclose my own Bitcoin situation. I now own
one-eighth of one coin, worth roughly $93. And it wasn't easy to get my
paws on the thing.
There are scads of
websites swapping dollars for Bitcoin, but most look a little shady, or
have a wait period. I turned to Patrick Cheng, who hosts biweekly
Bitcoin workshops at his Chinatown videogame repair shop, xCubicle. He
invited me over so he could set me up.
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