There has been considerable speculation regarding the extent to which retail merchants can accept transactions using the cryptocurrency due to the delays in processing processes and high transaction fees as well as certain regulatory constraints.
Who Are The Retailers Of Bitcoin?
Very few retailers have attempted to allow such transactions, rather the number has decreased in the USA in 2017 from the year before. While a few financial institutions have started trading with the digital currency, a lot of others have openly discouraged the same. Quite a few start-ups based on the technology have raised funding from venture capitalists. Moreover, the price fluctuations of bitcoin from as low as $0.30 to as high as $1242 has been a matter of optimism as well as concern, making it far more volatile than popular entities such as gold, S&P 500 and the US dollar.
The economics behind the technological revolution has made it a subject matter for research, commerce and movies alike. I tried looking two years back when 1 btc to inr it is equivalent to 12,59,035.09 Indian Rupee. Did I miss my golden egg? Or is it on the way? It is safe to suggest that to know the answer is just a matter of time.
One of the reasons why it has many supporters is because gradually all the transaction is being made online. So why not to jump to this digital currency where your transaction fees are reduced drastically.