Bitcoin’s network reportedly counts around 5 million users from all around the world. That number continues to increase as thousands of people join the network with each passing day. After all, Bitcoin has tons of advantages over regular payment methods and that is the reason why so many people are fond of it.
As time passes by, Bitcoin is getting more accepted. After it was created, Bitcoin was primarily used on the black market, but now, even some of the most popular global brands have decided to accept it as a payment method. With that being said, we wanted to take a look at the current state of Bitcoin and see what the future holds for it.
When it comes to accepting Bitcoin as a payment method, many companies have already integrated it into their system. Since we mentioned that global brands accept it, here are some of the names that stick out: Microsoft, Wikipedia, Expedia, AT&T, Starbucks, and Whole Foods. Recently, even Tesla invested over $1.5 billion in Bitcoin and announced that they plan on integrating it as well.
There are also many Bitcoin ATMs in numerous countries around the world, but the big problem with Bitcoin these days is that it is still not accepted by governments around the world due to the fact that they cannot control it.
So, Bitcoin is mostly used for making a profit these days. Considering the fact that its current value exceeds $50,000. After people mine a certain amount of Bitcoins, they turn to trading sites to help them sell it.
One of the most reputable trading sites is immediatebitcoin.io as this platform features an advanced AI system that is able to analyze the market and determine Bitcoin’s future fluctuations. Bitcoin is a highly volatile cryptocurrency and it is very hard to determine whether its value will rise or fall. This AI system makes it look easy. After the data is collected and analyzed, traders receive the results and they know when is the perfect time to sell their assets and maximize their profits.
What the Future Holds for It?
When it comes to the future of Bitcoin, the experts are divided. It goes without saying that Bitcoin has tons of benefits when it comes to making a profit and using it as a payment method and that is the reason why many experts believe that Bitcoin will be accepted in the future.
These advantages will continue to attract new people to the network and a point will be reached when a majority of the world’s population will use Bitcoin and the governments will have no other option but to make it an official method. Its wide acceptance will eve make it the world’s universal payment method.
But, other experts are not so optimistic. They believe that Bitcoin will forever be an outlaw because it is a currency that neither governments nor banks can control. As you know, Bitcoin is powered by blockchain technology. This means that every user takes part in Bitcoin’s sustainability.
With blockchain technology, the users update the log with transactions every day. Not only that, but they receive Bitcoins as a reward. These rewards can be used for making a profit or to pay for various products and services.
In short, Bitcoin does not need a middleman to handle every transaction, which is unacceptable for banks/governments. They do not like to legalize an industry that cannot be controlled, especially when the industry has the power to revolutionize the financial sector.
So, they will pour billions of dollars into campaigns to try and blacklist Bitcoin. Regardless if people are fond of it in the future, Bitcoin will still remain an illegal payment method.
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