Currently, there about 280 Bitcoin ATMs worldwide. This number was reached in less than a year. Some Bitcoin enthusiasts compare Bitcoin ATMs with bank ATMs but forget to mention that there are more than 2 million of them available worldwide. It took 40 years to arrive at this impressive number. Rome was not built in a day.
The idea of using a durable light-weight substance as evidence of a promise to pay a bearer on demand originated in China during the Han Dynasty in 118 BC, and was made of leather.
For many developing countries, agriculture plays a major role in the economy with numerous cash transactions taking place throughout the farm-to-fork agriculture value chain. This paper proposes a three-step approach for replacing the cash payments made by large buyers (e.g. lead firms, cooperatives) to smallholder farmers with digital payments.
Voices of Liberty’s Joe Gressis speaks with economics professors George Selgin and William J. Luther, and cryptocurrency enthusiasts Andreas Antonopoulos, Amanda Billyrock and Mark Friedenbach regarding the the future of money and how cryptocurrencies could affect the global landscape.
With advent of new digital currencies such as Bitcoin, their acceptance rate is growing rapidly with each passing day. People are even starting to use bitcoins not only for online purchases, but also in the offline world. For example, in many places you can now pay for a hotel room or cup of coffee in a café with bitcoins. According to coinmap.org, there are currently around 5,000 offline places where you can spend your bitcoins, and that number is quickly growing. Bitcoin software development is also moving forward by leaps and bounds, with many different wallet applications available today.
Richard Gendal Brown, IT-Architect for IBM UK in charge for innovation in banking and financial markets, discusses why the payment card system works the way it does – and why Bitcoin isn’t going to replace it any time soon.
Cointelegraph.com features Torsten Hoffmann, the German-Australian producer and director of the documentary “The End of Money As We Know It”. His article on what the Bitcoin community can do to improve the image of the cryptocurrency recommends a pragmatic approach:
Will digital cash overtake traditional currencies?
One of the most heated debates in the Bitcoin community today is whether crypto coins such as Bitcoin will ever triumph over the mighty USD to become the world’s primary means of payment for cross-border transfers. Reading through numerous threads and blogs, our research shows that many Bitcoin enthusiasts believe this scenario is not only possible, but is bound to happen in the not-so-distant future.
Powerful currencies have fallen in the past