

Bitcoin’s Big Win - Kenan
http://siliconangle.com/blog/2012/07/11/paypals-abandonment-of-major-cyberlockers-may-become-bitcoins-big-win/

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cciesquare
I really do not know much about bitcoins, so if someone can add more info that
would be great.

My question is from when you purchase bitcoin, or convert it back to your
respective currency. Does that not have to go through a normal bank, which is
still regulated?

Additionally, what is to stop shops from not accepting bitcoins? So you get
paid in bitcoin, but can't convert it back to your currency, or no one accepts
it as payment wouldnt that just make it worthless?

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nrb
It's possible to completely bypass banks, yes. It would involve a physical
cash to bitcoin exchange where you hand someone the money and they deposit the
bitcoins at the address you specify.

Nothing stops shops from refusing bitcoin, but the same applies to USD.

