Wednesday , 24 July 2024

Bitcoin Going Mainstream – Take a Look (+2K Views)

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, under the title Bitcoin is Finally Becoming an “Everyday Use” Currency, of an infographic** by that identifies:

  1. top 5 countries where bitcoin is being used
  2. top 10 biggest bitcoin-accepting merchants
  3. total bitcoin value processed to date by bitpay
  4. total number of bitcoin transactions per day
  5. total bitpay transaction volume by categories
  6. top 10 most often bought items with bitcoin
  7. top 3 countries in bitcoin signup growth
  8. most common brick & mortar bitcoin-accepting merchants
  9. 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.

*; **
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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

One comment

  1. 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.