Greetings programs! Adafruit is pleased to offer BitCoin as a payment method for Adafruit purchases. We soft-launched over the weekend and had tons of happy customers, we’re using BitPay as our payment processor. BitPay is an electronic payment processing system for the bitcoin currency. BitPay enables online merchants to accept bitcoins, as a form of payment like payments from Visa, Mastercard, Amex, Google Wallet and Paypal.
Here’s a video from BitPay that explains their service. And below is the Bitcoin.org overview of Bitcoin and video.
Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.