the simpsons, bitcoin, homer simpsons, mr. burns, money, cash, trillion dollar billBitcoin is a distributed, global and decentralized digital internet currency. Unlike currencies like the dollars, you can manage and issue Bitcoin without any central authority such as a company, government or bank. You become a bank of your own once you acquire your own Bitcoin.

For several years, people have been capable of converting currencies using the Bing search engine. People were able to change nearly fifty types of currencies via Bing. This included changing Euros to Rupee or Pounds to Dollars. The good news from Microsoft Corporation is that Bing can convert Bitcoin now. This novel addition to the Bing search engine makes it the first Internet engine to offer Bitcoin conversion. This move by Microsoft has solidified Bitcoin as a legal alternative to the usual currency.

With the new Bitcoin currency converter, you can be able to know the Bitcoin value of products. For example, if you would like to know the price of the new Samsung S5, just go to the Bing website and type “price of product in dollars to BTC”. The converter will display the value of the Smartphone in Bitcoin. Bitcoin conversion makes commodities seem more affordable as they have a higher value than any other type of currency.

Bing runs its conversions on Coinbase Company software that is one and a half years old. The company is located in San Francisco. Microsoft noted that many individuals were converting a tune of up to 15 million dollars to Bitcoin digital currency by mid last year using the Coinbase Company. This necessitated them to come up with their own program linked to the company.

Such a move by Microsoft adds legitimacy to the Bitcoin that has previously suffered from wild fluctuations. Today, financial experts value a single Bitcoin unit at USD 677. The Bitcoin unit has previously fluctuated up to a maximum of USD 1000. At times, the value of the Bitcoin varies between USD 350 to USD 1,250. The reason behind this is that Bitcoin is not widely accepted, there is no buyer protection given by the digital currency and that there is no physical form of the currency.

The following are the major advantages offered by Bitcoin use:

a) There is no third party forcible dispossession meaning that nobody can freeze your wealth if you had converted them to Bitcoin currency

b) There are no taxation systems for Bitcoin transactions. The only method of taxing the amount is only if an individual is willing to send some percentage as tax

c) There is no tracking system meaning that nobody can link any transaction to a person using Bitcoin digital currency and that you will be the only person with the account details

d) There are no transaction costs when using Bitcoin as a form of payment. The only cost incurred is the network cost

e) You cannot steal Bitcoin currency unless the thief has access to your personal computer and account details

The Bing’s Bitcoin feature is currently available for users in Australia, United States, United Kingdom and India but Microsoft Company has promised users in other countries that the feature will soon be available to them. The Bitcoin currency converter was available since the year 2009 but did not attract huge investors until last year.

Google is yet to counter the move by Microsoft strengthen the Bitcoin as a legitimate currency for trade. Some of the major internet outlets including WordPress, Overstock.com and Sacramento basketball team have started accepting Bitcoin currency as a form of payment.