"To calculate the exchange rate for US Dollars, we pull up-to-the-minute BID prices from three exchanges. We take the 2 that are closest together and toss out the third, so that a bad feed from one exchange will not affect our calculation. Of the 2 rates that remain, Bit-Pay uses the highest BID price as our exchange rate. "
Companies don't end up changing prices every minute. Gas stations, for example, are prohibited from changing prices too frequently in many states.
A proper solution has to provide more than one minute of price stability. BitPay doesn't provide longer term price stability.
If all illicit/immoral/illegal transactions happened in BTC, the likelihood that "proper/legitimate" transactions happen in BTC is higher.
Because: - now people know how to use BTC - they are comfortable spending BTC - they have some BTC on hand (that they may typically spend on illicit goods)
Publicity is publicity is publicity
We need local businesses, or even corporations to start adopting Bitcoin! When this starts happening at a large scale, I think we'll see a tipping point in Bitcoin adoption.