• Bitcoin Grows More Widely Accepted

    The real measure of value for any currency is the fact that other people are willing to exchange things with you based on it. Early on, a lot of people laughed at the idea of Bitcoin because they could not imagine that any significant organizations or stores would actually agree to accept it as a legitimate payment. As time goes on, however, more organizations that offer a variety of goods and services have stepped up an announced that they are willing to carry out transactions with it.

    In October of 2014, the Georgia Institute of Technology announced that they had settled on an agreement that will make them the first college program to accept the digital currency for their concessions sales. They have announced that they came to an agreement with BitPay that will allow students at Yellow Jackets games to make purchases in the lobby of the Bobby Dodd Stadium. They are also going to allow students to pay for dining and shopping on campus in the same way. With such a highly regarded school taking this step, there’s a good chance that other institutions of higher learning will be making similar deals in the coming year.

    This is just one indicator that Bitcoin is gaining credibility as a currency on a broader scale. Much of its progress does come in very technology oriented settings, of course. People who are already computer savvy and interested in the technology that allows something like a crypto-currency to operate securely are much more likely to take the time to learn how it all works and how they can set themselves up to buy and sell it. As it pops up as an option at more retailers and even professional sporting events, though, it gains acceptance among the larger population as something that it truly a viable currency.

    Most individuals are already carrying mobile phones that can be loaded with applications to allow them to spend and receive crypto-currencies. As more retailers and service providers realize that there’s a genuine market out there that they could be missing, they’ll have a strong incentive to make agreements similar to the one that’s allowing Georgia Tech to accept Bitcoin on campus.

    Categories: cryptocurrencies


    Comments are currently closed.