Bitcoin is more than a computer nerd's prospect for a future economy: the digital currency, which has no physical form, a money that truly is made out of nothing but "bits," or mere numerical placeholders in the imagination of a machine, is here to say, and many are bidding that it will be the currency of the future, a sort of liquid asset that like capitalism itself will breach all barriers and become a uniform capital on the cyber world. What's missing in all this is serious businesses weighing in on the matter.
But after the long-established New York law firm McLaughlin & Stern announced last week that they would accept the digital currency, to keep on the "cutting edge of law and technology" other firms have wised up and allowed clients to pay with bitcoin as well.
Most notable of these firms is NS Wasserstein & Associates, PLLC, who wish to stay "ahead of the curve" by letting their clients pay in this unconventional manner.
Joining the likes of Virgin Galactic, eBay, PayPal, and many others, but precious few law firms, Wasserstein explains their move as a bid to stay on top of the game.
"Digital currencies are here to stay," said the firm's Nat Wasserstein. "Not only that, but they're set to play a big part of commerce going forward not only in the online world, but in the real world as well"
"Legislators and lawyers tend to be late-stage adopters to innovation. Bitcoins are real currency, and are already playing an important role in business and the economy. Our clients are driven, Internet and technology savvy, and they're increasingly expecting us to innovate and move forward with or even ahead of the curve. Accepting Bitcoins just makes good sense."
Whether or not the move makes good sense, it at least is a distinctive move, sure to make the firm stand out -- making a few headlines in the process. Corporate attorney jobs in New York City are quite competitive, and any firm that offers a bit of an edge will make them all the more enviable for those seeking a spot at the most promising company.
As for whether Bitcoins in particular will weather the market and become a currency viable and sustainable in the future remains to be seen. Nevertheless, with such companies as Wasserstein getting on board with them, it does offer the innovative form of currency a bit of legitimacy, which is good to have, considering the way Bitcoin was established and regulated. With serious traditional companies taking Bitcoins on board, they may be paving the way for the internet economy to become strongly established as an entity of its own. And those firms that accept it will at least show they are hip to the latest fashions.
With a convergence of virtual markets and real world markets, which of course have their variegated forms of currency across nations and countries, finding something universal, if that were possible, would be a boon for all. At least it is a tip towards the right direction in the world's tendency to globalize.
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