People are highly caught up over what bitcoin can be – investment, stock to trade, technology that can shape future of the entire industries – they forget that it is also, as a “coin” in name implies, one kind of currency. This was made to upend the government money to become the best currencies in the whole world. Blockchain is very important technology, however, bitcoin was supposed to allow you pay for the things without getting any banks involved in it.
Can you spend it? What you can buy with your bitcoin?
You do not have to worry about the bitcoin overtaking dollar anytime soon as per the bitcoin news, however, part of the bitcoin’s ascension as foremost cryptocurrency is that now, no matter whether you mine the bitcoin or purchase it, there are various places that accept this as the payment. Most of them are on internet, also depending upon where you are located; you can find the local bitcoin-accepting store close to you.
Granted, you must not expect any kind of sudden or rapid increase in the stores who are taking bitcoin. This has the long way of going before you become widespread. The volatility in price, which is combined with the lengthy transaction times over busy blockchain, make this tough for the establishments to accept the bitcoin payments. It has made consumers quite wary of spending this; after all, why to spend $30 bitcoin if in future it will be worth a lot more in case you invest them wisely?