California Governor Approves Bitcoin for Transactions

[TampaAnimusVortex]

After the Bitcoin Bowl in St Pete (which got over 3 million viewers)

http://siliconangle.com/blog/2014/12/30/bitcoin-bowl-nets-more-than-3-million-viewers-game-night/

Bitcoin continues to make inroads into undermining the credit card companies and "too large to fail" banking system.

http://cointelegraph.com/news/113235/bitcoin-becomes-legal-tender-for-transactions-in-california

Now that the price seems to be settling into a somewhat stable range, its adoption continues to increase in a fairly straight line. The stories of it going away or being predominately for those unsavory and illegal transactions are becoming fewer and fewer as more legitimate use expands.

Bitcoin Transactions per day

Bitcoin prices stabilizing over the last few weeks

[upaloopa]

1. Say EBAY let buyers pay with bitcoins

Say you won an auction and owe the seller $100 and the seller can be paid in bit coins.
What transpires in the trail from cash in your back account to cash being deposited in the sellers account. And how much cash are you actually paying?
If you use PayPal $100 goes from your account to the sellers account. What advantage would there be to using bit coins instead of paypal?
I don't understand bitcoins at all.

[TampaAnimusVortex]

2. Smaller transaction fees, no trusted 3rd party.

In a normal exchange between you and I, we would need to send our currency to some trusted 3rd party (Paypal, western union, Bank of America, etc..) to facilitate the exchange.

With Bitcoin, there is NO trusted 3rd party. It goes direct from me to you... which means no 2% or 3% off the top. You can send a million dollars across the world in minuets for about a nickle. No force on earth could break your account either (given it was properly password protected). Your Bitcoin account key/password can be stored online, offline, on paper, or even in your head (Brain wallets).

The amount of Bitcoins grows at a pre-determined stable predictable rate, so you don't have to worry about some company, agency, or government entity inflating the currency at will. It's baked into the protocol itself.

Also, anyone can create an account at will - be it you on your computer, or an African farmer on his smartphone. This will allow those billions that are currently underbanked to have a chance at banking services the western inhabitant takes for granted. (Savings, loans, micro-loans, charities, etc...).

Oh... and there is that little fact that it may prevent huge wars in the future (as well as massive corruption). See here: