Here’s what you need to know: on the plus side, bitcoin allows direct transactions between end users and product or service providers. That makes it fast and free from transaction fees. It’s also extremely difficult to counterfeit, and virtually guarantees user anonymity and security. And promoting that you accept it could enable you to tap into a lucrative demographic. On the other hand, since bitcoins aren’t maintained by a single repository, daily exchange rates can fluctuate rapidly. A bitcoin payment you accepted yesterday could be worth half as much today. That, along with a lack of regulatory oversight and ambivalence toward bitcoin by the U.S. Treasury Dept., suggests a wait-and-see approach.
-CBS Pulse