Austria’s Energy Company Switch First To Take Bitcoin Payments
Austrian and German energy provider Switch has begun accepting Bitcoin for gas and electricity bill payments. In a press release and Facebook post Wednesday, Switch, which is wholly owned by EnergieAllianz Austria, said the move marked a first for Austrian energy customers. “With the introduction of cryptocurrency Bitcoin as a payment method in Austria we’re aiming to cater principally to digitally-aware customers and other interested parties,” CEO Christoph Schmidt said in the accompanying release. Billing literature can now also be issued in Bitcoin for those opting to use it for....
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In physics, the definition of "energy" is "that which allows work to be done." This means that money is energy, since it can be used to do work via payments to people. The energy in money can be thought of as "economic energy". Economists call economic energy "price" and measure it in terms of "euros" or "Kenyan shillings" and so on. But, these units are abstract because their quantity changes over time. Physicists would prefer to use units such as joules or kilowatt-hours, which have a concrete basis in physical realities of mass....