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Stephen Gandel

Bitcoin Is Hot, But Good Luck Using It

The frenzy around the digital currency obscures the drawback that it's difficult to buy anything with it.
Photographer: Sean Gallup/Getty Images

Bitcoin seems to be everywhere these days. Finding a place to spend it is another matter entirely.

That flies in the face of popular perception that businesses are trumpeting the acceptance of the digital currency as a form of payment. Looking for a mate? OkCupid stopped accepting cryptopayments a year ago.  Booking a flight? and Virgin Atlantic both dabbled in bitcoin but now don't accept it for airfare. A Holiday Inn in Brooklyn no longer books beds for bitcoins.