SO THEN, WHAT IS BITCOIN?

 

Bitcoin is a peer-to-peer payment system. Its unique properties attract many followers and opponents. It’s impossible to tell whether Bitcoin will establish itself as the sole payment system for the internet, but for right now – there is significant interest and demand for it.

 

The Bitcoin economy is still in its infancy and there are already many investors and people who are attracted by the prospects this new disrupting technology may bring. The future of Bitcoin is unclear at the moment due to legal uncertainty (governments cannot issue it, but they can prohibit use), unstable exchange rates and subsequent lack of widespread (albeit rapidly growing) adoption.

 

However, people familiar with Bitcoin and technology often note the similarities between Bitcoin’s ascendance and the rise of Internet in the 1990-2000s. When the Internet first emerged in the early 90s many experts underestimated the impact it would have on the world. It is often predicted Bitcoin will follow the same pattern. Until then, current users are embracing this truly innovative idea and are contributing to establishing a global bitcoin economy.


Reference at hashflare
 

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