2012-10-20 economicspolicyjournal.com - Bitpay used in NY Cabs

[zef]

http://www.economicpolicyjournal.com/2012/10/headed-uptown-in-bitcoin-limousine.html

Congrats to the guys at bitpay for being mentioned in one of my favorite economics and financial blogs.

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.

[1715362287]

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[TraderTimm]

Our 'region' is the internet, so I'd say we have ample footing there.

[Zangelbert Bingledack]

Exactly. SR proves that the "region" in which something is accepted as money does not have to be a geographic region. Now the borders of association can be drawn by mutual interest, not just geography. This is part of the larger paradigm shift that is the Internet.