LI's will accept bitcoin as payment

The 1-800-Flowers' headquarters in Carle Place Tuesday, Oct. The 1-800-Flowers' headquarters in Carle Place Tuesday, Oct. 29, 2013. Photo Credit: Barry Sloan

advertisement | advertise on newsday Inc. will start accepting bitcoin, a virtual currency that is growing in popularity, as payment for online transactions.

The online florist and gift shop company said it will begin accepting bitcoins in the fall. Coinbase, based in San Francisco, will process bitcoin payments for the Carle Place company.

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Bitcoin is a nonregulated digital currency that buyers and sellers exchange over the Internet without bank involvement. Bitcoin payments will be accepted across the parent company's brands, which include,,, 1-,, and Stockyards .com.

The growing list of companies that accept bitcoin payments includes, Lord & Taylor and Dish Network. says it has a record of technological innovation, such as being the first merchant to conduct a transaction on AOL and being the first e-commerce company to allow customers to complete transactions through their Facebook pages.

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