Couple to live off bitcoin for 90 days
Updated On: Jun 11 2013 10:25:58 AM EDT
A Utah couple will conduct an unusual experiment during their first few months of marriage.
Austin Craig and Beccy Bingham of Provo will give up money as we know it and survive using only digital currency called bitcoin, Salt Lake City TV station KUTV reported.
The couple faces a significant challenge.
A San Francisco journalist tried the same experiment for only a week and found it very difficult.
The newlywed couple plans to spend only bitcoin for 90 days and will document the entire experiment, struggles and all.
Craig and Bingham will be married in July and, following their honeymoon trip in Costa Rica, the couple will come back to Salt Lake City and hand over their cash, their credit cards, their cell phones —everything. The newlyweds will live for 90 days using bitcoin as their only source of currency, according to KUTV.
Bitcoin is a little complicated. It's basically money that exists only in the digital world. You can use it for online purchases, but Craig and Bingham want to use it in the real world for face-to-face transactions.
The pair admits they're not sure how it will work. They plan to learn along the way.
The newlyweds launched a Kickstarter campaign to fund a documentary about the project.The couple did set-aside real cash for medical emergencies and taxes. Otherwise, all spending for 90 days beginning July 27, will be done using bitcoins.
The couple is accepting bitcoin donations on their website lifeonbitcoin.com.
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