Wednesday, June 12, 2013

'Bitcoin baby' born after parents pay for fertility treatment in digital currency

THE world's first baby bought entirely with Bitcoins has been born in California.
The baby's parents paid fertility specialist Dr C. Terence Lee for fertility treatments using only Bitcoins after he offered them a 50 per cent discount on his services.
Dr Lee told the Bitcoin 2013 conference it was the first time anyone had paid for fertility treatments entirely in the digital currency.
The obstetrician and gynaecologist is something of a Bitcoin evangelist - he advertised a male fertility evaluation on Reddit last year for 15 Bitcoins, which was about $US5 at the time.
Then Dr Lee was on a mission to find clients who would pay for bigger transactions in Bitcoins.
"In some cases they reacted like I said I wanted to be paid in vials of crack cocaine," he told CNN Money.
Late last year, Dr Lee used a now-defunct Australian exchange service to transfer the money to Bitcoins, and it all went through without a hitch.
Dr Lee told the conference he was continuing to convert clients to the unconventional payment method.
"On the Friday before I came here, we did an ultrasound on a patient who paid with Bitcoin," he said at the conference. "We may also have the world's first Bitcoin twins."
The digital currency rocketed in value in April, before crashing soon after.

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