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Chicago Sun-times First Major US Paper to Accept Bitcoins
CIO ^ | 4/4/2014 | Tim Hornyak

Posted on 04/04/2014 2:58:05 AM PDT by markomalley

The Chicago Sun-Times is now accepting bitcoins as payment for subscription, becoming the first major U.S. newspaper to take the digital currency.

The paper's goal is to keep evolving with changing technology, and accepting bitcoin payments is one way it is trying to stay digitally focused, Editor-in-Chief Jim Kirk said in a release.

The Sun-Times has a "digital-first" strategy that led it to experiment with a bitcoin paywall for a one-day period in February.

It had partnered with San Francisco-based micropayments startup Bitwall so readers could donate bitcoin or tweets on Twitter to benefit an organization called the Taproot Foundation, which pairs professionals with nonprofit groups for pro bono work.

"We were encouraged by our paywall experiment in February," Kirk said in an interview over Twitter. "We believe there is an opportunity here to expand our readership with Bitcoin."

The Chicago Sun-Times claims 6 million unique monthly online readers. It was the eighth-largest U.S. newspaper by total average circulation in March 2013, according to the Alliance for Audited Media, an advertising and content provider industry group.

For its print and digital subscriptions, the newspaper is working with Coinbase, a bitcoin wallet service also based in San Francisco. In a blog post, Coinbase said that content providers such as the Sun-Times are one of the early leaders in getting merchants to adopt the cryptocurrency.

In January, Bitcoin-related news sites reported that Dutch newspaper NRC Handelsblad was planning to accept bitcoin as a payment method for individual articles. A Reddit poster, claiming to be a webmaster for the paper, said the new payment method was being implemented step by step.

Although Bitcoin has been overshadowed by allegations of fraud and hacker attacks such as in the collapse of Japan-based bitcoin exchange Mt. Gox, content providers and bloggers are turning to the digital currency in part because it's a cheaper means of moving payments around, with transaction fees which can be lower than 1 percent.

TOPICS: Business/Economy; Extended News; US: Illinois
KEYWORDS: bitcoin; chicago; chicagonewspaper; chicagosuntimes

Not exactly sure how well that one is going to work out.

1 posted on 04/04/2014 2:58:05 AM PDT by markomalley
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To: Errant

Bitcoin news ...

2 posted on 04/04/2014 3:41:59 AM PDT by Star Traveler (Remember to keep the Messiah of Israel in the One-World Government that we look forward to coming)
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To: markomalley
Chicago Sun-times First Major US Paper to Accept Bitcoins

At it's best the current Chicago Sun-times is only worth two bits...

3 posted on 04/04/2014 4:31:12 AM PDT by Caipirabob (Communists... Socialists... Democrats...Traitors... Who can tell the difference?)
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To: Caipirabob

Remember Pogs?
How about the Holland Tulip craze.
Nothing beats Gold, Silver and guns.

4 posted on 04/04/2014 4:51:28 AM PDT by Yorlik803 ( Church/Caboose in 2016)
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To: markomalley
That chart reminds me of another chart:

My guess is that unless something fundamental changes, BTC will keep right on chugging along.

Gold and BTC are now the same asset class in the eyes of the IRS.

5 posted on 04/04/2014 5:23:07 AM PDT by PreciousLiberty
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To: Lurkina.n.Learnin; nascarnation; TsonicTsunami08; SgtHooper; Ghost of SVR4; Lee N. Field; DTA; ...
Thanks Star Traveler!

Click to be Added / Removed.

6 posted on 04/04/2014 6:55:10 AM PDT by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: PreciousLiberty

Bitcoin is going to out perform any investment vehicle you can find, just as it did last year.
I also have no problem with gold or silver or other precious metals. The only rub is getting them through an airport. This is where Bitcoin will excel.

Every day more and more good news about Bitcoin, just amazing.

7 posted on 04/04/2014 12:24:19 PM PDT by TsonicTsunami08 (SEND BITCOIN 1CYfujvffxKKPHKvrQvLP3CDb3Z5Lu7LwM Funny Money)
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