Digital Assets vs Cryptocurrencies
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Bitcoin is a digital currency that was created by some mysterious Japanese guy back in The value of Bitcoin has exploded recently. But what is that something? For thousands of years, humans used lots of things as their currency, like cows, pigs, horses, services, or anything else that could be bartered.
Bitcoin is no different. Bitcoin can be bought and sold for dollars on exchanges like CoinBase. Yes, there are some security concerns. So, if a growing number of people and businesses are recognizing bitcoin as a means for payment, should you be considering it for your business, too? For example, one restaurant in Utica, New York is accepting bitcoin for meals. The owner is doing this for a sound business reason: A Japanese software company is now allowing its employees to be partially paid using bitcoins instead of currency.
Others are using bitcoin is differentit is digital money currency platforms to raise billions of Bitcoin is differentit is digital money. The point is that, slowly but surely, Bitcoin, Ether and other cryptocurrencies are becoming more and more mainstream and entrepreneurs are discovering realistic reasons for using them. So that gets me back to the original question: Should you use Bitcoin in your business, too?
For most of us, the answer is: At least, not yet. Bitcoin is extremely volatile. Its value has exploded in just a matter of months. Many believe the entire market is a bubble not unlike Dutch tulips in the 17th century or the World Wide Web in the early 21st century. Do you have the time to do this? Is the effort worth it? So, for now, my advice is to stay on the sidelines and watch the action. Stick to what you know best and use the payment options available to you —including credit card, cash, and mobile — that are more stable and easier to implement.
I believe they will be. This article is not inaccurate but it is incomplete. Mining bitcoin takes longer periods of time bitcoin is differentit is digital money the level of difficulty of mining is set arbitrarily higher. Other digital currencies are addressing many of Bitcoins weaknesses. In short, its a no brainer. You should, however, investigate Blockchain and how that technology is likely to completely disrupt many businesses and professions. Avoid blockchain at your own peril. Your email address will not be published.
Notify me of follow-up comments by email. Notify me of new posts by email. Herbert Hess March 13, at Gene Marks March 14, at 2: Bitcoin is differentit is digital money a Reply Cancel reply Your email address will not be published.
