The more you use Bitcoins the more you get it!

June 6, 2011commentaryStephen

OK I have to admit I am only a few days into using the bitcoins, but the more I read and use them, the more I get it!

At the moment the bitcoins are being driven by the speculative market, which isn’t surprising based on two things.

1 It is a bull market, so it is fairly straight forward when it comes to making a profit! As Rick certainly believes
2 It is a great way to transfer money internationally and being an expat this will be very useful.

Having read many articles on whether it is a scam or if it is a license to make money, I find them to be quite negative and detracts from what the true benefit will be. Saying that the hype can only help drive more and more people to the reasons why it should be used or at least be aware of the unique advantages.

The truth is it will be irrelevant what the price is, whether it is $100 or 50 pence, because in the future all we want is the price to be steady and by then there will be millions of people wanting to have an alternative to the current system. In reality it is the next step up from PayPal and it was only a matter of time before there would be an alternative.

So yes you could loose your shirt in speculating in the bitcoin, but that is not what it is all about.

Still things are changing and one other advantage I didnt mention

3 Anonymity, as with this $7000 donation to a group of hackers with bitcoins, by someone who obviously isn’t a fan of Sony

Shops 4 Bitcoins

One stop shop for bitcoins

The more you use Bitcoins the more you get it!

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