Bitcoins: a virtual currency

December 4, 2013

Currency is going digital. We see it when people get paid electronically and use plastic cards or online accounts in place of traditional paper currency.

Will this mean that one day paper currency will be phased out for nefarious reasons like ‘saving the trees’ or ‘counterfeit bills’?

Who knows, but one thing is certain – Banks will not accept cash payments for a mortgage or loan anymore. You have to make the payment electronically.

Strange idea when money is supposed to be a tangible asset, something you can look, touch, smell, and feel.

It makes sense then to witness Bitcoin rising in popularity when we see a growth in the use of electronic payments.

If we were to have one universal currency that could be used around the world, exchangeable for any other currency, and it’s value the same everywhere it’s used – Bitcoin would be that currency.

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