It’s Still Early for Bitcoin

Bitcoins

I first wrote about Bitcoin on January 8, 2014. (See all 33 stories). I continue to believe we are at the very early stage of development for the digital currency. Jacob Donnelly wrote an excellent article in his Cryppto Brief blog describing the past, present, and future of Bitcoin. See Here’s what the future of bitcoin looks like — and it’s bright. Jacob said, “Bitcoin is seven years old and it is experiencing many problems that early technologies have experienced. In many respects, even at seven, it is still not even October 13, 1994 for the technology.” I agree. The infrastructure supporting Bitcoin, called the Blockchain, is of much greater interest to major banks, IBM and other technology giants, and many pundits on the topic. The American consumer does need Bitcoin to make purchases or payments. However, if you live in one of the dozens of countries which have questionable currencies and unquestionable corruption, you think of Bitcoin in a very positive way and embrace it. In summary, my view is it’s still early for Bitcoin.