Bitcoin is used as a method of payment in some countries starting in April of last year including Japan. In Japan, cryptocurrencies are accepted in a vast majority of retail stores. They also set the path for other countries and their governments to reconsider their approach to digital currency. In the past few months, its estimated that more than 20.000 new digital wallets have been created daily.
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Cons
Like many currencies, Bitcoin is also associated with a few disadvantages. For example, there are governments that do not accept the use of bitcoin. Also, your hard drive containing your digital wallet can crash, or may even not be protected enough. Also, Bitcoin’s drastic growth in December led analysts and experts to give out a warning that bitcoin is approaching bubble territory and warned people not to invest or buy it.
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Pros
Although this might be true, when Bitcoin reached its phenomenal rise, investors and developers got even more inspired to improve the technology that runs it. They started acquiring more people to work on issues for its improvement and making it appealing for other institutions and governments. All of this is being made done today for a better and cheaper tomorrow where people would be granted better ways of handling their money or their transactions.
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What The Future Holds
So, if you think about it, it is definitely the currency of the future. We can see that many countries already use it as a payment method. It’s unknown will the rest of the world start adopting this method of payment.
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