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Sunday, 12 March 2017

Bitcoin becoming a more acceptable means of payment.

Bitcoin is becoming a more acceptable means of payment

Bitcoin is becoming a more acceptable means of payment. 

The sign above is from a New York subway train station. Yes! It is being said that the journey of a thousand miles begins with a step and a child today will grow to become the leader of tomorrow. This is a true saying and we get to see that daily in our lives and times. Bitcoin started as a nerd currency and it looked like it wont see the light of the day but gradually it spread to being liked and used by others as the first cryptocurrency to being used and revered the world over today. It started below 5cents to a bitcoin and grew gradually until In 2013 due to some strange occurencies it got to the point where it traded for $1300 to a bitcoin and as fast as it moved up it dropped to about $200 to a bitcoin, today in March2017, it is at $1270 to a bitcoin. It has moved to a point where it has proven itself as the defacto currency today as it is higher than all the major currencies of the world and is still climbing.

What makes bitcoins acceptable:

It is the first currency to be without a governmental control  and intervention and is just controlled by the forces of demand and supply. It also cuts off the middle man between during transactions and for the first time allows financial transactions to occur directly from person to person. These are a few factors for its worldwide acceptability and for some time now there has been a failure of so many world currencies due to their government policies. This had been happening in times past but never before have we had an alternative currencies that is above inflation and manipulation. Bitcoin becoming a more acceptable means of payment. Yes! These are the reasons people are gravitating toward bitcoin and it will still go higher.

It started by being accepted by online shopping industries and later moved to being used as a physical means of payment. It has been accepted by bars and shops and supermarkets in countries in the UK and US and some places in China. It acceptability has now spread to all payment platforms online and countries after countries are accepting it today. It is now being accepted as tuition for some universities today e.g Brazilian University, Cyprus University and kings college New York  and many have accepted it as a form of payment and that to me that is the height of it. If you have not been serious with bitcoin I must say you have been left behind.
Bitcoin as a currency has proven itself and is still proving itself some more. By the end of this year a bitcoin would be worth more than $2000 and the more we scorn at it the more Bitcoin will become a more and more acceptable means of payment. So, wny not seek ways to jump in now and watch how your finances grow into the future.

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