Bitcoins in the mainstream: what’s their use?

User circles still can’t unambiguously define their attitude to Bitcoin, and it’s okay. Ambiguity gives rise to vagueness, and the latter causes misunderstanding. People, who are not scared, don’t miss a chance to trade bitcoins in hopes for the better; some users take some part of “electronic gold” just to have a try; few people take a comfy position of observers to neither win nor lose anything. All this pile of opinions and comments has one consolidation attribute, which unites the mainstream audience, standing for two opposite camps – interest boosted by regular updates concerning daily news of 21st century financial tool…

People are frightened with uncertainty: regulators of most countries proclaim from the platform that bitcoin is evil, threat to wellbeing of the national economy, a “hole” in the budget of each of us if its price suddenly collapses. At the same time, investors and speculators, who don’t find warns threatening, try the role of creators of the cryptocurrency fate time and again, and feel good, I’d say. Despite the fact that the bitcoin value is hardly regulated, within the last year sharp leaps have been observed few times, most likely, as a reaction to goodwill and hostility of authorities to it.

Why does an average person need Bitcoin?

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We can break into a search of entities who find a mass usage of Bitcoin and its copycats ruinous. Also, we can sit and think about things to be done in order to project the current situation in the right direction. I believe that there is certain future behind “coins” even because they are applied in three strategic domains – trading, online and offline commerce, and investments. It’s our (including guys standing above us) business to define how soon this future will turn into archive notes.

Everyone seeing positive sides and anonymity, easy transfer and safety of cryptocurrency transactions (and the end nature of bitcoins that hypothetically leads to the price growth over time) understands that manipulations with Bitcoin are beneficial, and it brings long-term profits rather than one-time ones. If we get down to it and receive a powerful backing from more than one or two influential states (say, at least from a half of them), chances are that users will stop perceiving talks about lucky ones “who bought bitcoins for $200 and exchanged them for a flat now” as tales and cease seeing a crime embodied by Shrem and Silk Road in anonymity.

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Here’s a simple answer to a simple question “why”: money for the sake of money.

How to fix up bitcoins?

Freedom built in bitcoins and brought up by them concurrently allures and rejects users. Separate attempts of large retailers (like ebay, Overstock or Alibaba) to keep up with the present day trend and accept bitcoins as a payment method haven’t helped smaller online merchants follow their example yet. It’s virtually not beneficial for merchants themselves because tomorrow the exchange rate may either jump up or fall down with equal probability.

…But as they say, no cross, no crown. Some countries are rather tolerant to bitcoin holders (for instance, the UK, the USA, and Germany). It’s easier to fix law issues there, and by using ready bitcoin payment interfaces, one can build some Internet store that accepts Bitcoin, or establish something like iTunes to deliver digital goods.

It’s too early to let bitcoins break away, but hindering its development with fear and browbeating is not the case either. Some help of regulators, some assistance of vendors and trading platforms, and a great wish of people to understand (as many people still think that it’s too hard to mine and trade bitcoins), accept and spread (by investing money in the development of BTC exchange and trading platforms, for instance) this ungovernable thing in the financial world are everything this still homeless currency crucially needs now.

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Basically, it’s up to us to answer whether bitcoins will be or not. Is the game worth the candle? What do you think?

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