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1 .This is Scientific American's 60-Second Tech. I'm Larry Greenemeier. Got a minute?
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2 .Virtual currency was on the ropes earlier this year.
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3 .Bitcoin, the preeminent peer-to-peer online payment system, saw its value slashed by more than half after its largest exchange was hacked and shut down.
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4 .Yet the fortunes of cryptocurrency have recently rebounded.
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5 .Apple used to block programs from its App Store that managed or otherwise dealt in bitcoin and its ilk.
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6 .Now, though, Apple will allow iOS developers to support the use of certain cyber coinage.
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7 .Apple has yet to say which of the dozens of cyber currencies out there it will now honor.
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8 .Meanwhile, satellite TV provider Dish Network will soon start letting its 14-million household subscribers pay their monthly bills using bitcoin.
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9 .And rapper 50 Cent is accepting bitcoin as payment for his latest album.
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10 .By the way, at this moment's exchange rate, 50 Cent would also be known as 0.00075 Bitcoin.
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11 .Not as catchy.
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12 .Such high-profile endorsements should help bring cyber tokens closer to the mainstream, even though there's a risk that they'll go down in value once you buy them.
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13 .Still, U.S.consumers might be open to the idea.
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14 .They've been hooked on a virtual currency for decades.
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15 .It's called credit cards.
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16 .Thanks for the minute, for Scientific American's 60-Second Tech. I'm Larry Greenemeier.
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