Already popular in Europe and Asia, a new form of currency is sweeping its way across America. They're called Bitcoins -- a digital form of money. And now they're being accepted at some places in Oklahoma City.
There are three main forms of currency: Check, credit or debit cards and cold hard cash. But now, at least one metro business is cashing in on a new trend: Bitcoin.
The best way to think of Bitcoin is like stock. The value can rise and fall on a daily basis resulting from the people that use them. Currently one Bitcoin is equal to $583. But in December the value was over $1,000 to 1. The risk is yours.
Vice President of Central National Bank said in part: Bitcoin is a fad that's unregulated...and he would not encourage customers to invest.
A response Dr. Keith Smith says he expected from a banker.
"Anything the Federal Reserve gets upset about I tend to think it might be a good idea," said Smith.
Smith runs the Surgery Center of Oklahoma and is more than willing to accept Bitcoin.
"It's a simple conversion to dollars," Smith said. "My stance is if they want to pay with pigs or chickens, we can figure out a conversion."
So instead of you paying at the Surgery Center of Oklahoma with cash or check, if you want to pay with Bitcoins they simply make a conversion and charge accordingly.
"When they see we are willing to make arrangements on this end to accommodate their pay, it's a very customer friendly business. That's the nature of the free market. And me accepting bitcoins is just that," said Smith.
A Bitcoin can also be converted to Euros or Yen and there is no fee to set up an account, which only takes about 15 minutes.