2015 is just around the corner, and it’s really intriguing what it brings us. Already next year you may be using Bitcoin to pay for Christmas gifts and other stuff.
Bitcoin has come a long way from a suspicious cryptocurrency with a controversial reputation to a widely accepted payment method. Even having faced certain problems (the Silk Road story, Mt.Gox bankruptcy and Bitcoin ban in some countries), Bitcoin community remains steadfast, showing remarkable resilience and a high level of confidence in BTC.
This year Bitcoin has got enough momentum to become the dominant force in the cryptocurrency market: currently, more than 60,000 businesses globally make calculations in Bitcoin, and the volume of venture capital investment into BTC in the second quarter is 28% bigger compared to the first one.
What kind of trends and challenges shall we expect in the coming years? Cryptocurrencies became the new dawn in remittance services all around the world. Services like Circle make transactions fast, reliable and commission-free –
and isn’t it what we wanted them to be? And if you need your BTC converted into cash, just send any amount of bitcoins to your Coinbase account, and then withdraw them at a local bank with a minor fee.
Large companies seem to have liked Bitcoin: there are quite a lot of online shop and retailers offering BTC payments, including Dell, Amazon, and OverStock. Bitcoin is changing the process of shopping overall: Bitcoin payments in shops and retail locations are highly anticipated. Traditional stores will become increasingly smaller.
Regulators gradually soften their attitude to cryptocurrencies. In most countries, Bitcoin is not subject to the ban. Globalization contributes to global trade and makes more and more people turn to using Bitcoin as a means of payment. Ultimately, this will lead to easing the repressive measures.
The revolutionary block chain – the basis of Bitcoin – is the new type of distributed system allowing users to safely store and verify transactions or any other data without any intermediaries. Block chain transactions don’t necessarily have to be financial. The network itself is the warrantor of safety, and it can be used to turn many other brilliant ideas into reality, including Maidsafe’s concept of block chain-sourced hacker/spying-safe Internet analogue perfect for developers and data exchange.