HONG KONG: A shop selling the virtual Bitcoin currency has opened in Hong Kong, as fresh concerns grew in Asia over the currency’s viability and security. Touting itself as the world’s “first” physical Bitcoin retail store, Hong Kong-based exchange ANXBTC said it could help raise the popularity of the crypto-currency.
Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.