Is The Currency Well Established?
So, you have a passing interest in Bitcoin? Or maybe you are interested in making a business out of it? If you are, consider the following!
Main Market! One of the main reasons for you to take some serious interest in Bitcoin is because of the market that it has created for itself. It’s really not just a currency, but a market. That is a pretty big deal, but the fact that it is here means that it is here for good.
Mining? Yep, it’s part of the transaction. While you don’t necessarily need to mine to make some Bitcoins, you do need to have some means of processing transactions and payments. Thus, some mining in the form of specialized hardware is required, both to process transactions and to compete with the banks.
Not Just Privacy Concerns… Yes, you heard that right. Even as the banks and major businesses are claiming they want to stay out of your personal affairs and allow you to pay for your purchases only through their systems, at the same time, they are essentially banking with you on this very point.
As such, you need a currency, and you need it to be stable. In other words, there is a significant question as to how stable a currency is supposed to be if it depends on your bank or your major merchants. If it doesn’t depend on those two entities for support, then why the heck would you use it?
Be it. Other currencies have experienced plenty of problems. Why shouldn’t this one? As such, there are some who wonder if it’s ever going to go mainstream and be worth having.
An Advantage To Everyone! Well, not really, but with all the anti-Bitcoin sentiment out there, we can at least see a move to mainstream the currency. If nothing else, this could help Bitcoin gain some legitimacy. With something like that, it might even move Bitcoin from being a joke to something worth having.
Bitcion may never be more than a fringe market, but that is because there is still so much skepticism. If there is no sense of it being safe, then wouldn’t that give people an incentive to not get involved? So, while the price and demand may seem unrealistic, it seems that the currency may be doing just fine.
Fact or Fiction? It’s up to you, but it’s fair to say that it’s certainly more fiction than fact when it comes to a currency. As such, one would have to ask whether or not it will be able to meet its promise.
After all, as such, the fact remains that any money or currency will always need to be exchanged to some other one. When a currency does, it still needs to be exchanged for something, either cash or goods. This is why the economy requires it.
And, as such, as with all currencies, Bitcoin has its fair share of problems. These are usually the same problems that plague the rest of the economy. If there is no issue with instability, then it will probably be a great success.