In reply to Philip Cohen.

Bitcoin has a HUGE advantage over traditional centralized payment authorities in that it essentially functions like anonymous paper money, but over the internet. It enables ANYONE to send and receive payments nearly instantaneously (if you don't wait for confirmations, and a few hours if you do) to and from anyone over the internet, without the intermediation of any central authority.

What does that mean? It means no need for account registrations, email confirmations, and all that hassle. If you set up a blog and want to accept tips, for example, all you need to do is post your wallet address (QR code or string) on your site, and anyone with a bitcoin wallet anywhere in the world can send you bitcoin just like that. There is no need to setup merchant buttons, merchant accounts and all that rigmarole.

Bitcoin wallets are becoming easier and easier to use and Breadwallet is a good example of such.