PROVO, Utah -- A Utah couple is trying to raise awareness for virtual currency by going 90 days without spending any money other than bitcoins.
Beccy and Austin Craig plan to turn their experience into a documentary film, which they said they hope will help spread the word about digital currency.
Austin Craig said he is aware the plan is not the most traditional.
“I'm kind of the wacky uncle to my nieces and nephews, so for me to be working on a project that nobody totally understands right away; it's par for the course,” he said.
Austin Craig said even though it has only been a few days, they’re finding some success with the project on a local level.
“Most people don't know what it is, but some of these mom and pop shops, they didn't require a whole lot of explanation, they understood what I was talking about pretty quickly,” he said.
Beccy Craig said uncertainty about the bitcoins’ backing is the main concern she sees.
“The hang up that I get from people is they don`t know what gives bitcoin its value, and so to me that`s the one kind of weird thing.”
The Craigs have already convinced local farmer Clinton Felsted to take part in their bitcoin experiment.
“I know it's very speculative, but I think there’s a place for it, and I’m willing to support that, and if there are people wanting to be a part of that exchange, I'm happy to participate,” Felsted said.
And that participation is exactly what the Craigs said they hope to achieve.
“At the end of it all, we’re taking something that’s really technical and complicated and new and maybe difficult for people to understand, and we’re trying to learn about it ourselves, not being highly technical people, and then we hope to be able to share that with others,” Austin Craig said.
To learn more about the couple’s progress and the project, visit their blog.
According to bitcoin’s website, Bitcoin is a digital currency, a protocol and a software that allows for peer-to-peer transactions, worldwide payments and minimal processing fees.
“Bitcoin uses peer-to-peer technology to operate with no central authority; managing transactions and the issuing of bitcoins is carried out collectively by the network. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment systems.”