Without question, one of the most enlightening explanations of the many major problems with BitCoin comes from a poster called cumos55 in an eBay thread of Seller Central discussion board: "Each country has its own currency. The value of that currency is based on the "value" of that country As an example... the US dollar is valued in relation to the population of the US,, the economic status.... and everything that relates to the USA, and the same applies for every other country.

The value of Bitcoin is based on perception... there is no stability.... No solid value supporting Bitcoin and its value.

In order to trade effectively in a currency that currency must be stable from day-to-day.... There is a variation between currencies of countries .....but that is defined by the value of one country to another.... and the basis of a true, and real value.

Bitcoin's value is based on perception... Its value is based on nothing else....

Bitcoin has too many negative factors going against it.... The day eBay/Paypal say that Bitocins are acceptable is the day that the value of eBay/Paypal drops dramatically...and... for me that is the day many sellers who understand the value of a US dollar will leave eBay
Why? Mainly because the banks would cut any ties to eBay/Paypal.

Bitcoin has a reputation of being used in many illegal activities..... It is my understanding that people sometimes have been found to sell in an illegal manner on eBay... selling stolen items... something that eBay is looking to stop....

Finally, many countries classify the use of Bitcoins as a part of an unacceptable, and illegal activity...

No one on eBay or Paypal should ever have mentioned anything about Bitcoins..."