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Businesses are accepting bitcoins because of the advantages, but the list is relatively small compared to physical currencies.
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In Late 2010/early 2011, a friend of mine mentioned it to me as I had finally understood why our current financial system was unsustainable. A few years prior the Zeitgeist documentaries had really spurred my curiosity on the issues with what money is and how it's created.
While discussing the idea of localized currencies with a friend, Bitcoin came up in the discussion. We talked about the issues of having to run a miner in order to work on the network and shortly dismissed it. I later attempted to research more about Bitcoin but failed miserably and quickly dismissed it. After about six months it all finally started to click and I haven't really looked back since!
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There’s one big one that worries me about every cryptocurrency: a vulnerability that leads to the collapse of the blockchain.
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I honestly don’t see how or why this would happen. It’s possible, sure, but I just don’t see bitcoin lovers leaving bitcoin because governments don’t like it. In fact, the opposite is more likely.
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A few benefits of using bitcoins which make it better than any conventional currency;
It’s faster, cheaper, more secure and immutable. Cash is controlled by banks while bitcoin has owners.As we already know, Bitcoin can help us do online shopping. It’s like an e-wallet which can be created blockchain technology to store, track and spend digital money.Bitcoin has a global acceptance and is less volatile than cash / local currency. Due to this feature, it becomes easier to conduct transactions across boundaries and online.
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