Lawyers Now Accepting Bitcoin for Payment
Law 4 Small Business (L4SB) Now Accepts Bitcoin for Payments
FOR IMMEDIATE RELEASE
24 April 2013 – Albuquerque, NM
L4SB, a leading high-tech law firm focusing on the needs of small business, is proud to announce that it now accepts Bitcoin for the payment of small business legal services. “Our decision to accept Bitcoin for the payment of legal services meets two important objectives for the firm: First, we want to accept as many forms of payment as possible, to make it as easy as possible, for the small business to engage us for legal services. Second, we are an Internet savvy, high-tech law firm and law practice, and accepting and honoring Bitcoin adds credibility to that claim,” says Laurence S. Donahue, attorney and founder of L4SB.
For those who don’t know or haven’t heard of Bitcoin, it is a decentralized virtual currency without a centralized banking system, owner, manager or controlling mechanism. It was invented by an anonymous hacker, and the currency itself exists solely as ones-and-zeros within computer algorithms, memories and digital wallets. Read What is bitcoin? An idiot’s guide to the virtual currency by Metro in the UK.
Accepting and transacting in virtual currency is not for the faint-of-heart, which perhaps represents its single greatest barrier to widespread adoption. A second barrier to widespread use of the Bitcoin is that it’s hard to find an article discussing Bitcoin that doesn’t including red-flag words such as “hacker,” “theft,” “launder,” and “bubble.” The value of the Bitcoin, in early 2013, has fluctuated greatly due to a number of economic factors, and now the US Government is taking notice and applying US Money Laundering rules to merchants and exchanges dealing in Bitcoin.
L4SB believes that digital currency is in its infancy, and without a doubt, represents the future of commerce. Because it’s new — and still represents only a drop in the bucket of the world economy — we will see upswings, downswings, and rapid changes in commerce and financial laws, as our centralized systems adjust. In the mean time, L4SB is happy to participate in this new and exciting medium of financial exchange!
Law 4 Small Business (L4SB). A little law now can save a lot later.