Google has added some fuel to the Bitcoin revolution this week with its announcement that it will be adding the Bitcoin to its currency conversion calculator. According to Tech Times, the Bitcoin is rapidly gaining steam as viable online currency through which consumers can order products and services and conduct business. Tech Times tells us that internet companies such as Overstock.com, Tigerdirect.com, WordPress, Etsy, Reddit, Zynga, OkCupid, eBay, and PayPal are already accepting Bitcoin (BTC) as a form of payment. Virgin Galactic is even accepting Bitcoin as a form of payment for those who want to travel into space.
The Bitcoin revolution is clearly a grass roots revolution as its use is being pushed by internet companies and consumers alike without the backing of a central bank or national government. The fact that the new currency has no central bank backing to determine its actual value presents a special challenge for Google in attempting to determine its value via its online currency conversion calculator. Because of this unique situation, Venture Beat tells us that the conversion results given by Google’s Bitcoin currency conversion calculator are subject to frequent change. That is, the Bitcoin’s value against the U.S. Dollar, British Pound, Mexican Peso, or any other currency the world over is in a state of constant flux, so obtaining real time results of the new currency’s value is tricky business. Google, via the addition of Bitcoin to its currency conversion calculator, intends to make it less tricky business, at least for you and I anyway.
Venture Beat goes on to tell us that for Google Apps lovers, converting any currency’s value into Bitcoin is as easy as speaking a simple voice command. Google spokesperson Jason Freidenfelds says that, “You can ask it, ‘How many Bitcoin are in 500 U.S. dollars?’ and you’ll get the answer in a handy conversion tool. Same feature works for other currencies, too.”
Tech Times reminds us that critics have stated that Google’s move to add Bitcoin to its online currency calculator is not groundbreaking. The other two major online search engines, Bing and Yahoo, have already added Bitcoin to their online currency calculators. Google, however, has taken their addition of Bitcoin to their online currency calculator a step further than their competitors by linking it with a company called Coinbase. Coinbase will allow users a better ability to track the value of the Bitcoin against all other currencies and functions as an online wallet. Tech Times tells us that Coinbase is an internationally accepted “online-wallet” that lets users buy, use, and accept Bitcoin.
Google’s move this week to add Bitcoin to its online currency conversion calculator will no doubt encourage further use of the new currency. The Inquisitr makes a compelling case as to why Bitcoin really is the online currency of the future.