Showing posts with label Cryptocurrency. Show all posts
Showing posts with label Cryptocurrency. Show all posts

Monday, 22 April 2013

Our hopes for the future of Bitcoin


As long-term Bitcoin community members we have viewed the last few weeks with a mixture of trepidation and excitement. Having sold our products and services for BTC over the past year we have found that although there is a substantial amount of Bitcoin out there, there is still not a vibrant market in exchanging them for goods and services. In our humble opinion, if there was more trade in BTC, there would be a greater stability within the market. However, we have watched as frustratingly the majority of Bitcoin activity has been funneled into speculation and playing the market. This alongside the hoarding/saving that a lot of miners have engaged in, has lead to very little being spent on actual commodities. Now, however we hope that people will start to see that the currency is much better suited to its original purpose. Perhaps another cryptocurrency will emerge, which is innately better suited to speculation, but in the meantime, we hope that people will start to use their Bitcoins for more and more transactions.