Three Reasons to Take Bitcoin Seriously in 2018
You should pay attention to Bitcoin in 2018. It has been under the media spotlight for many years now and continues to gain support from influential people in the worlds of finance and technology.
Bitcoin has had a lot of controversy along with its rise to popularity. Early examples of drama in the Bitcoin space include the hacking of prominent altcoin exchanges and the use of Bitcoin for drug sales on the internet. A more recent debate has centered around government regulations on Initial Coin Offerings (ICOs), specifically in China and South Korea.
These controversies have not removed the wind from bitcoin’s sails. With each Bitcoin often being worth $10,000 or more, it seems like the future may be bright for this currency in spite of the challenges it faces.
Here are three reasons that Bitcoin deserves to be taken seriously in the year 2018.
(1) You Can Buy From Major Retailers With Bitcoin
A surprisingly wide range of e-commerce locations now accepts Bitcoin. That is partially thanks to Shopify, the world’s biggest e-commerce platform, offering optional bitcoin integration for all of their clients.
You can spend your Bitcoin on Expedia, enabling you to find a hotel anywhere around the world. Or you can use Overstock or Newegg to buy technology products using your Bitcoin, making it easy to build a computer or home entertainment system.
There are thousands of other examples from which you could choose to shop. It is as simple as sending your money to the correct Bitcoin address. The sky’s the limit when it comes to buying with Bitcoin.
(2) Bitcoin’s Value May Rise
While there are no guarantees, it is indeed possible that Bitcoin will go up in value during 2018. If that is true, anybody who “HODLs” (common bitcoin slang for “hold”) will earn a profit. However, they will also have to pay a capital gains tax rate on the extra money they make.
Savvy investors may be able to take advantage of Bitcoin. As always, you should consult a financial professional before you make any major decisions on this subject.
Even if you don’t want to invest in Bitcoin, you can rest assured that other people will do so. It’s another reason to believe that Bitcoin can gain more momentum as 2018 rolls on.
(3) Bitcoin Development is Steady
Programmers around the world are developing many essential Bitcoin updates. Since Bitcoin is a decentralized protocol, anybody can theoretically help out and work on updates for possible integration into this blockchain.
Bitcoin requires a considerable degree of security which means that updates need careful implementation. There are also hundreds of alternate digital currencies where other features are tested and explored, but these do not have any direct connection to Bitcoin.
The most anticipated upcoming update is the “lightning network” which will drastically speed up Bitcoin transactions and reduce transaction fees as well.
If the development of Bitcoin goes smoothly, it will be a great boon to the currency’s prospects in future years.
The Future of Bitcoin
It’s a good idea to pay attention to bitcoin in 2018 whether or not you have any yourself. Bitcoin is important for investors, casual consumers, technology experts, and entrepreneurs alike. The underlying technology of Bitcoin, called blockchain, could impact many industries worldwide similarly to how the internet did.
Keep paying attention to this topic as the year unfolds. If significant changes happen to the Bitcoin protocol or ecosystem, you want to know about them. If you stay educated on this subject, you will remain open to the opportunities of the future.