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Bitcoin is heavily supported by [[libertarian]]s as an alternative form of currency against the [[U.S. Dollar]], which, after [[President Nixon]]'s executive order essentially eliminating the [[gold standard]] in 1971, has become less valuable and has less trust put into it. There are several bitcoin exchanges on the internet, which one could use to exchange currency or something else of value (i.e. gold or silver) and receive Bitcoins, or by letting one's computer's resources be used by a Bitcoin network, and receiving an amount of Bitcoins for that service (essentially "mining" Bitcoin). Several online stores currently accept Bitcoin, and even some real-life outlets accept the currency, such as an Italian restaurant in [[New York City]].

Bitcoin is heavily supported by [[libertarian]]s as an alternative form of currency against the [[U.S. Dollar]], which, after [[President Nixon]]'s executive order essentially eliminating the [[gold standard]] in 1971, has become less valuable and has less trust put into it. There are several bitcoin exchanges on the internet, which one could use to exchange currency or something else of value (i.e. gold or silver) and receive Bitcoins, or by letting one's computer's resources be used by a Bitcoin network, and receiving an amount of Bitcoins for that service (essentially "mining" Bitcoin). Several online stores currently accept Bitcoin, and even some real-life outlets accept the currency, such as an Italian restaurant in [[New York City]].

Bitcoin has also been used to conduct criminal activity by people seeking to evade the monitoring of large all-cash transactions.  One academic study found that in 2012, 4.5% to 9% of all transactions of all bitcoin exchanges in the world were for drug trades on the drug market, Silk Road.<ref name="cmacademic">{{cite news|url=http://www.andrew.cmu.edu/user/nicolasc/publications/Christin-WWW13.pdf|title=Traveling the Silk Road: A Measurement Analysis of a Large Anonymous Online Marketplace|publisher=Carnegie Mellon INI/CyLab|accessdate=22 October 2013|author=Christin, Nicolas|year=2013|pages=8}}</ref>  After the FBI raided Silk Road, the price of bitcoin fell dramatically.

Bitcoin has also been used to conduct criminal activity by people seeking to evade the monitoring of large all-cash transactions.  One academic study found that in 2012, 4.5% to 9% of all transactions of all bitcoin exchanges in the world were for drug trades on the drug market, Silk Road.<ref name="cmacademic">{{cite news|url=http://www.andrew.cmu.edu/user/nicolasc/publications/Christin-WWW13.pdf|title=Traveling the Silk Road: A Measurement Analysis of a Large Anonymous Online Marketplace|publisher=Carnegie Mellon INI/CyLab|accessdate=August 25, 2014|author=Christin, Nicolas|year=2013|pages=8}}</ref>  After the FBI raided Silk Road, the price of bitcoin fell dramatically.

Seth Meyers noted on his ''Late Night'' program, "[[Wikipedia]] is now accepting donations using the online currency Bitcoin. So now you can support information you're not sure is true with currency you're not sure is money."<ref>http://www.thespec.com/living-story/4733681-tuesdayfile/ Retrieved August 8, 2014</ref>

Seth Meyers noted on his ''Late Night'' program, "[[Wikipedia]] is now accepting donations using the online currency Bitcoin. So now you can support information you're not sure is true with currency you're not sure is money."<ref>http://www.thespec.com/living-story/4733681-tuesdayfile/ Retrieved August 8, 2014</ref>