“Blockchain is the tech. Bitcoin is merely the first mainstream manifestation of its potential.” – Marc Kenigsberg
Is Bitcoin just a fad or the future of money? Most financial experts claim that bitcoin is just a trend that will soon fade away. However, the public is proving just the opposite.
What is Bitcoin?
Bitcoin is one of many cryptocurrencies that exists today. In fact, it was the first cryptocurrency of its kind. Bitcoin is a universal payment system that currently allows users to make purchases with untraceable money.
Bitcoins can be exchanged for other forms of money, services, and products.
Bitcoin and other cryptos operate on blockchain technology. According to BlockGeeks, Blockchain technology can be described as a digital ledger that allows transactions to be recorded and maintained.
Blockchain Technology
Blockchain technology was intended to be used strictly for cryptocurrencies; however, the tech community discovered multiple uses for the new technology. Blockchain technology has potential to improve areas of real estate and website customization through its high powered database. Even if Bitcoin is just a fad, Blockchain technology is here to stay.
Accepting Bitcoin
More companies and businesses are accepting Bitcoin as a method of payment for their products and services. Companies like Microsoft, Overstock, and Expedia are just a few examples.
Bitcoin has affected the way people view money today. Even though the coin is battling against government regulations, the future of cryptocurrencies is promising. What are your thoughts on the future of Bitcoin?
