The cost of bitcoin conquers record tops, and against this background the number of people willing to get it is inexorably growing. Moreover, the number of interested in other cryptocurrencies is growing, which contributes to the rapid growth of the cryptocurrency market.
Basically, Bitcoin is considered as an attractive object for investment some time ago it was possible to buy it for hundreds of dollars, now it costs thousands, and in the near future may reach the level of tens of thousands. Accordingly, everyone who managed to acquire Bitcoin before the next jump in value naturally increased their capital.
However, against the background of the growing popularity of Bitcoin, we should not forget that in this case we are talking about cryptocurrency. That is, about the currency. And the main function of the currency is to use for payments for goods and services.
Already, an increasing number of companies around the world are starting to accept Bitcoin as payment for purchases, and against this background, crypto-economics enthusiasts often say that Bitcoin will challenge the usual payment instruments and become on par with cash and payment cards.
In fact, despite the fact that bitcoin to some extent tries to use the whole world, it’s too early to talk about its mass introduction into the daily life of people.
As soon as a cryptocurrency is officially recognized in a particular country, the level of confidence of the inhabitants of this country in it will increase. At the same time, governments will be ready to recognize cryptocurrency only when a significant number of people within the country already trust in cryptocurrency and actively use it.
This circumstance suggests that sooner or later Bitcoin will achieve his goal. Now it is actively distributed in almost all areas of business, especially in advanced countries. There are people who want to get Bitcoin for their goods, just as there are people who want to pay for goods with a cryptocurrency.
Both sides of such a transaction can have any motivation, for example, the desire to get extraordinary advertising or just an interest in innovation. The fact, that this motivation contributes to the growth in the number of transactions using cryptocurrency that increases overall popularity of cryptocurrency.
Of course, it is forbidden to have excessive illusions, but there is reason to believe that, as with the introduction of other innovative technologies, the popularity of cryptocurrency will grow like a snowball.
The foundations are classic for the XXI century: speed, reliability and ease of use. The same was with computers, with mobile phones, with the Internet, with plastic cards.
The last example is closest to cryptocurrency. It is enough to recall the distrust of card payments that existed at the beginning of the century. A lot of people, having the opportunity to pay for utilities via the Internet, prefer to stand in long lines at the bank counter. Nevertheless, such people are less and less, and after a couple of generations, most likely, these will be only isolated “cranks”.
In the same way, bitcoins appeared in separate stores, now they are recognized by chains, and, perhaps, after some time they can be paid for in every major supermarket as accurately as now with cards.
At least, there are prospects for this, and if the cryptocurrency market continues to grow rapidly in the future, news of major transactions using cryptocurrencies (like the recent sale of an apartment in Kiev for Ethereum) will appear more and more often.