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It takes some time for new innovations to develop the infrastructure to reach their hyped potential [but] there is ample evidence [seen HERE] that shows that cryptocurrencies and Bitcoin are along that path.
The above edited excerpts and the edited commentary below are from a post* by VisualCapitalist.com, under the title Bitcoin is Finally Becoming an “Everyday Use” Currency, of an infographic** by coupofy.com that identifies:
- top 5 countries where bitcoin is being used
- top 10 biggest bitcoin-accepting merchants
- total bitcoin value processed to date by bitpay
- total number of bitcoin transactions per day
- total bitpay transaction volume by categories
- top 10 most often bought items with bitcoin
- top 3 countries in bitcoin signup growth
- most common brick & mortar bitcoin-accepting merchants
- bitcoin transaction volume vs. other payment networks
Recent transaction data shows that more bitcoins are being spent on “everyday use” items [than ever before with]…the number of transactions…[having increased by 169% in the last year and]…the average transaction order amount having decreased substantially from $513 to $281 per order as more people bought more everyday items.
1. New Technology “Hype Cycle” Ideal to Assess Opportunities – Here’s Why
For any retail investor looking at technology opportunities, identifying just where various technologies are in their respective development (how much work is still to be done to bring the ideas to fruition) and, as such, when each of them will become realities, is imperative. Our Hype Cycle graph does just that. Take a look.
2. How Bitcoin Works & What Purpose It Serves
While many people may be aware of the Bitcoin revolution as it took hold of the Internet a few years ago…most are still not aware of how it works and what purpose it serves online. The infographic below presents a comprehensive analysis of said cryptocurrency.
3. Bitcoins: How to Start Using Them & the Security Issues In Doing So
How safe is the cash in your wallet? Just as with hard currencies such as dollars and pounds, the safety of your bitcoins depends on your own vigilance. If you are thinking about using Bitcoin, or already are, this infographic outlines the security concerns and how to go about alleviating them.
4. Bitcoin: the Ins and Outs Of Everyday Use & What the Future Holds
Bitcoin is a decentralized, global, peer-to-peer, digital, online currency but, that said, most are unsure whether or not it is the future of currency and unaware of the potentially massive impacts this crypto-currency holds. The infographic below shows you the ins and outs of everyday Bitcoin use as a way to save money and provide more autonomy in your financial transactions.
5. 50 Bitcoin Facts On Its History, Versatility, Usuage, Acceptance & Much More
This infographic neatly covers many interesting bitcoin facts in a digestible form. It not only shows the versatility of the bitcoin market, but it also captures the difference of opinion on crypto-currencies: many embrace the technology, but some institutions show signs of hostility.
6. Bitcoin Buzz from Visual Capitalist
What currency is feared by the European Central Bank as a threat to fiat monetary institutions? What currency is cash-like but digitally transmittable allowing for ultimate anonymity and global mobility? What digital currency is up over 2,200% over the last year? It’s Bitcoin.
7. What Are P2P Currencies (Bitcoin & Litecoin)? Should We Get Some?
Bitcoin is the first peer-to-peer (P2P) digital currency and payment system to gain significant interest. This month its marketcap surpassed $1 billion. [Below is a description of what Bitcoin is, and isn’t, and why it has caught on to the extent it has.]
For weeks commentators have been discussing the possibility of Greece leaving the eurozone and how a return to the drachma might be facilitated…The drachma is not Greece’s only option however….In some parts of Greece social entrepreneurship, technology, and skepticism of politicians have already given rise to alternate trading mechanisms and created an environment where a cyrpto-currency by the name of “Bitcoin” could become increasingly popular. [Let me explain.] Words: 709
No matter how much it’s hyped, bitcoin is essentially Holland Tulip bulb mania with less substance.
The people who bought in at the bottom will retire to the beach and the greater fools will lose everything they put into it.