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Colo. construction company accepting cryptocurrency

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(Photo: MGN Online)

DENVER — A Colorado-based construction company announced Thursday it is accepting cryptocurrency as a way for customers to purchase its products and services.

Armstrong Steel Buildings in Denver said it has become the first construction company in the United States to employ cryptocurrency as a means to conduct business and facilitate monetary transactions.

“Our decision to accept cryptocurrency was made partly because we are able to provide customers an opportunity to make large dollar transactions with miniscule transaction costs compared to credit card companies and partly because we believe that electronic currency has a future,” said Ethan Chumley, founder and CEO of Armstrong Steel Buildings.

The construction firm described cryptocurrency as a “decentralized digital medium of exchange,” that uses cryptography for heighten security and it not governed by a central authority.

Through this system, Armstrong Steel Buildings said the market value of goods will be “based on volume and demand rather than traditional metal-based currencies or currencies which are controlled by national governments.”

The company said it is currently accepting two forms of cryptocurrency, Bitcoin and Dogecoin, but it will soon add more forms as the virtual medium grows in popularity.


    • Stephen Mullane

      it’s a logarithm if IRCC…

      invest in goods…metals….not the stock market. silver is starting to go back up. don’t hold onto the fiat currency that is the US dollar. it’s worth NOTHING and has lost 98% of its value since 1913. the only reason people think the dollar has any value is the blind faith. you can’t go and exchange a dollar for a good or product…it’s not backed by anything. keep printing money Fed…inflation is your friend and the People’s enemy

  • nicole hertzberg

    It’s super cool that a local company is accepting bitcoins. Bitcoins have the potential to be a stable and reliable world currency, and knowing that Armstrong Steel Buildings is on top of these financial/technological advances makes me think they are key players in the wold market. I’m glad they are representing Colorado.

  • Mike Johnson

    Bitcoin is backed by processing power. Right now it is the most powerful supercomputer on the planet by several orders of magnitude. Expect it to be trashed in both the media and by the government. It is governed by consensus and they aren’t a part of that.

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