The existing payment systems—credit cards, debit cards and even PayPal—have been
bolted on to the Internet. Coinbase co-founder Fred Ehrsam argued that bitcoin is a
better alternative because it removes the handling fees and cuts the time involved
in foreign-money transfers and low-value transactions.
A NATIVE DIGITAL PAYMENT SYSTEM?
A bitcoin ATM at SXSW While SXSW was underway, Wikipedia founder
Jimmy Wales started experimenting with bitcoin.