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But a vendor exchanging coins for cash is no reason to disqualify the technology as fake. It is in fact a medium of exchange. A vendor also needs no contract with credit card companies, does not have to issue refunds due to fraudulent paypal complaints, etc. Whether it is truly as ground-breaking as it claims can be a valid debate. But its ability to act as a medium of exchange is without question.

The distributive autonomous encrypted public ledger also known as the blockchain is the greatest breakthrough in computer science history. Everyone looks at Bitcoin the money, over looking the life changing technology.

Jeff Garzik. Bitcoin core developer said in an article today:

” Bitcoin was something that I, as a computer scientist, thought was completely impossible”.

Heres the rest of the article.

http://www.bupipedream.com/news/33369/garzik/?fb_action_ids=650305521673449&fb_action_types=og.recommends&fb_source=other_multiline&action_object_map=%5B277348555758251%5D&action_type_map=%5B%22og.recommends%22%5D&action_ref_map=%5B%5D

But its ability to act as a medium of exchange is without question.

It's not questioned. You can use baseball cards - or even candy wrappers - as a medium of exchange.

Now, what is questioned?

Simplicity, or availability of an official to help you
Convenience
Reliability and dependablity
Security
Cost of the exchange itself
Stability of value of the exchange token (BTC) during the exchange
Money back guarantee in case something goes wrong
Paper trail and records at a 3rd party if you need to trace your transfer or to file a claim
Compliance with tax rules (such as FinCEN form 114a)
insert more here
Superiority over existing solutions (Credit/Debit cards, checks, wire transfers, PayPal, etc.)

Note that this list only includes items that are relevant to using Bitcoin to send USD $100 from San Diego, USA to Niigata, Japan (as an example.) The Bitcoin will be in use only during the transfer. If you hold the Bitcoin then additional questionables show up.