20 Oct '12, 1pm

Headed Uptown in the Bitcoin Limousine

Trace Mayer sends along this video which announces that A Class Limousine in New York City is accepting bitcoins for payment. Though, I doubt there are going to be many who pay for rides with bitcoins, at the present time. Be sure to read the backstory decision by A Class Limo to use bitcoins, here . Of note: The ability to pay by bitcoin via smartphone is making it much closer to a money. BUT, the key still remains the number of people who will accept bitcoins in payment. For something to become a medium of exchange, it must have near universal acceptance as money, within a region. Bitcoin isn't there yet, by far. It may get there as totalitarian regulations make buyers and sellers want to keep their anonymity on more and more transactions (which bitcoin can provide), but it isn't there yet. Below is a fascinating video by Bit-Pay. It's aimed at merchants, but it is worth...

Full article: http://www.economicpolicyjournal.com/2012/10/headed-uptow...

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