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•BitBeat: Your Daily Bitcoin Round-Up [I've been plagiarized!]
•Bitcoin Charity Admits Its Biggest-Ever Donation Was Likely Stolen Money
•As Bitcoin Popularity Explodes, New York to Pioneer Regulation
•Bitcoin payments pose security challenges for brick and mortar merchants
•Over 10,000 People Watched This Week's Bitcoin Hearings — Here's Where They
Somebody once paid me with a USPS money order (around $800).
I took it to my bank - and it was rejected. Why? Too easy to counterfeit, so bank policy was no USPS money orders.
I went to other banks, check cashing places, grocery store check cashing service...NONE of them would accept it.
So, I spent 3 days of my life calling the post offices in town and waiting for a drawer to accumulate at least $800.
What did I learn from this? The USPS is a large organization that suffers from huge inertia, and is apparently unable to keep up with the times, with the security of something as simple as a money order.
And they want to open a bit coin exchange....
Run away.
My post office has been closed almost 5 months due to the flooding. They ought to be able to do this quite well.
The experts who rolled out the Obamacare website should be able to whip up the right software to allow the USPS to do this.