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<p style="font-size:xx-small;"> swings would
be too jarring -- but an increasing number are accepting it for
payment. Gallippi's company, BitPay, handles Bitcoin transactions for some
4,500 companies, taking payments in bitcoins and forwarding the cash equivalent
to the vendor involved, which means that his clients are insulated from
the cybercurrency's volatility.Gallippi said many of the businesses are
e-commerce websites, but he said an increasing number of traditional retailers
were looking to get into the game as well."We just had an
auto dealership in Kansas City apply," he said.In March, BitPay said its
vendors had done a record $5.2 million in bitcoin sales -- well
ahead of the $1.2 million's worth of monthly revenue estimated to have
coursed through Silk Road last year.Even artists accept bitcoins. Tehran-based
music producer Mohammad Rafigh said the currency had allowed him to sell
his albums "all over the world and not only in Iran."Gallippi said
the cybercurrency's ease of access was its biggest selling point.With Bitcoin,
"I can access my money from any computing device at any time
and do whatever the heck I want with it," he said. "Once
you move your money into the cloud why would you ever go
back to putting your money in the bank?"Many Wall Street veterans are
skeptical -- and they may feel vindicated after Bitcoin's latest tumble."Trading
tulips in real time," is how longtime UBS stockbroker Art Cashin described
Bitcoin's vertiginous rise, comparing
Some Texas applicants for welfare would be subjected to drug testing and
would be permanently cut off if they fail three times under a
bill passed Wednesday by the state Senate.The bill covers Temporary Assistance
for Needy Families program applicants. The program, which provides poor
people with money for food, clothing, housing and other basic needs, distributes
about $90 million to more than 100,000 Texans annually. The amount of
the payment depends on family size and income."Taxpayer money should not
be used to subsidize someone's drug habit," bill sponsor Sen. Jane Nelson,
R-Flower Mound, said before the bill sailed through on a 31-0 vote
that sent it to the House.The program already requires adult TANF applicants
to sign a pledge not to sell or use drugs. Nelson's bill
would move Texas in line with seven other states that require testing.
It would not cover other welfare programs such as food stamps or
other state benefit programs.Not all applicants would be tested, but all
would be required to undergo a screening assessment, likely a questionnaire,
to determine their risk of drug use. Anyone with a previous felony
drug conviction or failed drug test or who is otherwise deemed a
high risk for drug use would be tested.Applicants who test positive would
be barred from collecting benefits for 12 months. They could reapply in
six months if they complete a substance abuse program. Three failed drug
tests would result in a permanent ban
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