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It tells you bitcoin is at the adoption stage. People are just finding out about it.

Plus Overstock isn't exactly a hot retailer. If Amazon does this, it will be HUGE.

Even bigger would be for Paypal to add BTC as a payment method . Stores wouldn't have to "accept BTC", Paypal would do the dirty work and send on the amount in fiat to the store.

What would be better (from a branding point of view), Paypal to use PPC as "Paypal Coin". The masses wouldn't have a clue that it was actually named something else.

Thats effectively whats going on here though–Coinbase is handling the bitcoin and sending USD to Overstock. So on the retailer side of things the only difference is Coinbase doesn't have the cache that PayPal does(or the baggage). They are backed by some solid VC though–so a worry about them disappearing is probably unwarranted.

Perhaps you mean "cachet" instead of "cache"

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