Bitcoin and other virtual currencies will be accepted everywhere
Internet money does not smell Already in 2014 will alternative virtual money be widely used as a means of payment? probably some derivative and related form of the high-end BitCoin, perhaps Facebook? credit?. The forecasts do not speak of any particular currency, but rather of a trend that logically follows, among other things, from the phenomena we describe in the labor market.
Values like ranking in Google or Bing search results, or the number of "likes and shares"? on a platform like Facebook, which to people with a more traditional attitude may seem abstract and rather dubious, translates into real money, sales revenue, new customers, business development.
This is not fantasy. Companies that sell goods and services online know this well.
A payment card powered by BitCoin will be available soon. This is planned by BitInstant, one of the services that facilitate the exchange and transfer of the electronic currency BitCoin. A card bearing the MasterCard mark will allow payments to be made in the physical world. This is another step towards the recognition and universal acceptance of pure money in the traditional economy.
What is BitCoin because maybe not all MT readers know. This name is used to describe the money system that has been operating on the Internet for many years. Units, or bitcoins, are pieces of information generated by network users by performing laborious calculations. The process of making coins, also known as "mining". (mining) is often compared to gold mining in a gold based currency system? it takes both energy and time.
The currency algorithm was created by a man named Satoshi Nakamoto (this is a nickname, not a surname). It defines how the system works and ensures that the money supply is not too high. A total of 21 million coins can be generated, which should protect Bitcoin from inflation and increase the value of coins in circulation over time. Coins can be converted into national currencies through online exchange offices. The current rate of 1 BTC is about 30 PLN.
The issuance of a BitCoin payment card means the indirect acceptance of the Internet currency at millions of points of sale and service around the world. However, the holders of this money will have to give up some of the anonymity that the BitCoin system on the Internet guarantees them. This is because regulations, such as the prevention of money laundering, do not allow cardholders to hide everything about themselves.
As you can see in the video we present, there are also bitcoin vending machines (1). Thus, the currency of the Internet becomes a full-fledged means of payment.
You will find the continuation of this article in the March issue of the magazine
Upstate bitcoin vending machine
