Bitcoin is not being used by big companies for the same reason why BitPay is popular.

The reason is quite simple: you cannot enter a legal agreement with Bitcoin. Bitcoin is above the law. It exists in reality where things are not depending on the law. You can call that reality a code, IT or simply mathematics. No matter what you call it, it’s based on science and science obeys only it’s own rules. Limiting Bitcoin with law is as stupid as limiting gravity with the law. Yes you can punish people who use Bitcoin, but it will have no effect on Bitcoin itself. Likewise if you punish people who obey gravity it will not remove the gravity itself.

Anyway, back to the our topic. Big companies are avoiding Bitcoin for a very simple reason: it’s not possible to enter a legal agreement with Bitcoin. Yes you can use it, but if you happen to fuck up, it cannot sue Bitcoin. You have to take the responsibility yourself. This kind of situation is the most frightening to big companies: “How come we cannot sue it, we can sue even the government?” Sorry lads, you can’t, because unlike the government Bitcoin is not just a pointless legal entity, it actually has some real life use.

Luckily there is an option: BitPay. BitPay is an ingenious invention which basically turns Bitcoin into PayPal. There is no reason why anyone should use it, however it turned o