Currency must have value to ensure stability. The most common way for a person to judge a currency’s value is what they can use it on; Bitcoin is no different, and a host of vendors and merchants now accept it alongside, or in place of, fiat money.
One early adopter of Bitcoin was the computer retailer Dell. In fact, when Dell started accepting Bitcoin, it became one of the largest companies to do so internationally. While the digital currency may total for just a fraction of the retailer’s total transaction volume, there are other key reasons why the growth of Bitcoin could be aboon for the retailer.
Dell reported earnings of $59 billion during 2015. Traditional transaction fees range from 2 to 3 percent of the purchase price - with Bitcoin, it’s much, much lower, nearing non-existent - saving the retailer a lot of money in the future.
There are several possible ways Bitcoin can go at this point, all of which point to a legitimate, widespread adoption by large institutions through tighter regulation. Recently, New York’s BitLicense became the world’s first digital currency-specific regulatory regime. It has been through a couple of rounds of consultations and is expected to come into force in a couple of weeks.
According to TheNextweb.com The European Central Bank and European Banking authority have both released detailed reports on digital currencies, and suggested regulation of the industry by the EU to further control price fluctuations. The Winklevoss brothers, they of Facebook fame, are on the verge of launching their own exchange-traded fund holding Bitcoins.
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