I guess Paypal just sends you 'paypal credits' then, that you can convert 1:1 to a fiat currency... because, it's not really money, until you can have it in your bank or in your hand as cash, right? And if you need to setup a paypal account, ugh, silly proxy service and all that, linking your bank account and creditcard and sending over your proof of residence and identity.
Look, bitcoin is money. It may not be as universally accepted as a national currency, it may not have some official country issuing it, but it's still money.
You don't necessarily have to convert it to anything. As he said, he actually used bitcoin to buy computer parts at a billion-dollar company like Newegg, which is just one of multiple billion-dollar computer companlies like Dell and Tigerdirect, just to limit the examples to billion-dollar companies in the computer retail industry.
And I recently signed up with Circle. The process of signing up takes 10 minutes, like opening a gmail account, you can then buy and sell bitcoin instantly and it's completely free, zero fees. It's founded by Jeremy Allaire who built a billion-dollar company now part of Adobe (ColdFusion, used by 75 of the fortune 100). Point is, within a very short timespan of 1-2 years we already see industry veterans like him jump into this market to make it more and more frictionless, they already managed free and instant bitcoin purchase and sale, insured, too, in fact.
Look, bitcoin is money. It may not be as universally accepted as a national currency, it may not have some official country issuing it, but it's still money.
You don't necessarily have to convert it to anything. As he said, he actually used bitcoin to buy computer parts at a billion-dollar company like Newegg, which is just one of multiple billion-dollar computer companlies like Dell and Tigerdirect, just to limit the examples to billion-dollar companies in the computer retail industry.
And I recently signed up with Circle. The process of signing up takes 10 minutes, like opening a gmail account, you can then buy and sell bitcoin instantly and it's completely free, zero fees. It's founded by Jeremy Allaire who built a billion-dollar company now part of Adobe (ColdFusion, used by 75 of the fortune 100). Point is, within a very short timespan of 1-2 years we already see industry veterans like him jump into this market to make it more and more frictionless, they already managed free and instant bitcoin purchase and sale, insured, too, in fact.