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Author : Bitcoins Basics 101 PDF Ebook by DAVID DODGE and BRIAN DIXON
For example, with Bitcoin it's much easier to make international payments without risk of credit card fraud - something that's becoming more and more of a problem these days. Quite a few countries don't even accept credit card payments for one reason or another, which isolates quite a few societies around the planet. That isn't good in the grand scheme of things, which is why Bitcoin is being heralded as a lifesaver for some. Another way that Bitcoin may spread quickly in the future is as a means for international workers to send money back to their families without huge transaction fees. Companies like Western Union (and even PayPal) may find that they no longer have enough business to keep operating if Bitcoin really takes off and people begin using it to send money to their families in another country. Why should the people give large corporations billions of dollars per year in transaction fees when Bitcoin can do the same for free? This is actually one of the reasons that Bitcoin may have problems in the future as it grows. Large banks and other companies are likely to cry foul as they lose billions in revenue to Bitcoin. And if they do start to complain, there's a good chance that governments and regulatory agencies are going to take notice and try to appease them by shutting down Bitcoin or at least trying to slow it down. At the same time, a lot of people are going to be on the side of Bitcoin. What will senators and other politicians say when their constituents start talking to them about Bitcoin and other virtual currencies?
They're going to have to listen if enough people stand up and start taking them to task for trying to take Bitcoin out of the picture. This is why Bitcoin's future is looking bright - the people. The Growth of Bitcoin. We looked at the growth of virtual currencies in general in the last section, so let's take a specific look at how Bitcoin may grow and evolve over the next few years - and decades. In many ways, the future of Bitcoin looks bright because it's now growing in popularity at such a fast rate. There are a lot of reasons for this exceptional growth. For one thing, Bitcoin is loved by people who try the decentralized currency because they see it as a way to make the world a better place - especially for the disenfranchised people who are too often ignored by current financial systems in place. In fact, some would say that the current economy does a lot to keep poor people poor while making the rich even richer. This ever widening gap between the haves and have-nots is dangerous. If you look at Google Trends, it's easy to see that the topic of Bitcoin has been experiencing a lot of growth and is on track to continue in this direction for the foreseeable future. This shows interest in the cryptocurrency, which is an important indicator for whether or not people are actually going to use Bitcoin. The fact that it's an exponential growth is another good sign that things are just starting to pick up when it comes to Bitcoin being used by people around the world instead of traditional currency.
Another way to look at the growth of Bitcoin is by looking at the number of Bitcoin transactions as well as how the value of 1 BTC has risen dramatically over the last couple of years. Both of these signs point to Bitcoin becoming more popular until it reaches a tipping point and becomes mainstream. At that time, the growth of Bitcoin may slow, but it may be so entrenched in modern society that it's impossible for it to fail completely unless something drastic happens. What's really interesting is that Bitcoin has no intrinsic value - it's not backed by gold or precious metals - and yet it's been able to experience all this growth because it's useful and scarce. Not everyone agrees that Bitcoin is "real money" at this point, but the number of people who are accepting it is growing all the time. Well, except for traditional economists who rely on established financial systems. Because Bitcoin lacks a central authority, it scares a lot of people, especially those who are used to the powers that be deciding when to print money and how much to print. One sign that it is like a real currency is that it has experienced bubbles - going up and up in value and then "bursting" and losing value. This up and down movement of the value of Bitcoin is a good sign that it's going to eventually be accepted by at least some economists. Especially when you consider that Bitcoin is virtually invulnerable to inflation. Other factors that have been contributing to the growth of Bitcoin include the ability to bypass government restrictions (especially in China) as well as it being able to transfer money almost-anonymously anywhere in the world almost instantaneously no matter the distance.
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