"Virgin Galactic to accept Bitcoin for space flights"

newworldafro

newworldafro

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http://www.theguardian.com/technology/2013/nov/22/virgin-galactic-bitcoin-space-flights-payment
Virgin Galactic to accept Bitcoin for space flights
Richard Branson says: 'All of our astronauts are pioneers … and this is one more way to be forward-thinking'
The virtual currency Bitcoin can be used to purchase pizza and to make apartment rentals – and now it can be used to buy tickets to space. Virgin Galactic, the space-flight branch of Richard Branson’s empire, announced on Friday that it will accept payments made by Bitcoin.
“All of our future astronauts are pioneers in their own right, and this is one more way to be forward-thinking,” Branson said, in a blogpost for the company. He said a female flight attendant from Hawaii purchased a Virgin Galactic ticket using bitcoin on Friday.
Flights on Virgin Galactic cost $250,000; passengers can cancel up to three months before departure. Bitcoin topped $700 on the MT Gox exchange, where it is traded, earlier this week. Branson said on CNBC on Friday that payments will be transferred into US dollars to establish a fixed price in case the customer requests a refund.
Bitcoin’s value benefitted in recent weeks from growing support from investors, including China, who believe the decentralised currency could hold long-term promise as an alternative form of payment.
“I have invested in some bitcoins myself and find it fascinating how a whole new global currency has been created,” Branson said. “For people who can afford to invest a little in bitcoins, it’s worth looking into.”
At a US Senate committee hearing this week, the Department of Justice and the Securities and Exchange Commission called Bitcoin is a legitimate financial service, but warned that the government has little power to regulate the currency.
Mythili Raman, the acting assistant attorney general of the Justice Department, said the currency has the potential to “offer legitimate financial services and have the potential to promote more efficient global commerce”. She added that the anonymous nature of payment and inability to reserve payments might pose challenges to law enforcement.
"We have also seen, however, that certain aspects of virtual currencies appeal to criminals and present a host of new challenges to law enforcement," Raman said.
Branson said he hopes the currency will become more widely accepted by other governments with some regulation. He also compared innovations in flight to innovations in currency and speculated that: “The days of carrying cash and coins could soon be over.”
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unit321

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A flight attedant can afford a $250,000 flight to space using bitcoin.
1. Where does a flight attendant get $250,000? That alone is suspicious.
2. Did she buy the $250,000 or was it given to her in exchange for something?
 
88m3

88m3

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88m3 said:
What's the worst that can happen if he keeps trying? A few more pilots loose their lives?
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It may be an inefficient waste of money at the current point in time and it would be better for someone like Branson to invest in other projects that are more likely to benefit everyone in the next few years? I don't know I'm just speculating. Branson is one CEO who does like to be viewed as socially and environmentally responsible, maybe the downsides outweigh the upsides at this point.
full
 
unit321

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With that last flight going bust, I don't know if anyone wants to even fly Virgin Galactic.
 
newworldafro

newworldafro

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Look..........people acting like this will.....................................never takeoff.............I'm not stanning for the company.....but keep in mind how many attempts it took for man to fly in planes in general. There were tons of accidents ...... but now we fly across the country faster than we can walk a marathon....

Plus, there is probably technology already available anyway .... :sas2:
 
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unit321 said:
A flight attedant can afford a $250,000 flight to space using bitcoin.
1. Where does a flight attendant get $250,000? That alone is suspicious.
2. Did she buy the $250,000 or was it given to her in exchange for something?
Click to expand...

:stopitslime: Better invest in hoin', it's the best thing goin'
 
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