Will Bitcoin Emerge As The Tool For The Globalisation Of Currencies?

Over the past few months I have been carefully watching Bitcoin. During this time my belief in the currency has grown stronger and stronger.

I know this is probably not the best time to be giving my ten cents on the issue as I slowly watch the price of Bitcoin plummet. There are many factors that can be causing this but in the long term I don't think there is any concern for Bitcoin. As the power of Bitcoin emerges through online retailers the retailers are then forced to liquidate their coins in order to recuperate the operating costs. As this market grows in the short term there is clearly going to be a sharp turn in the price of Bitcoin. Combine this with investors seeking opportunity with the floating of Alibaba and you see how Bitcoin was always going to see a steady decline. This has shattered market confidence in the coin and allowed Bitcoin enthusiasts to grab coins at a bargain price.

Being a strong believer in the future of Bitcoin I belief it has the power to bring the world closer through a global unit of currency. It is already clear to see in other Industries how the larger corporations are slowly gaining a stronger market control over there weaker competitors. For some industries it is already to late and globalisation has stamped its authority beyond the control of government authorities.

I can easily see the potential in Bitcoin. It just makes sense. The sheer economies of scale that are associated with Bitcoin as a payment system guarantees its success. Some people might say this is slightly unrealistic but when you look at the banking system model its easy to pick holes in its operating costs. Factor these unnecessary costs into peoples declining faith in the institutions and you will see Bitcoin emerge as the market leader.

In a digital age where we are probably going to witness the death of the newspaper. A product, that has embedded itself in history since the 18th Century, no longer has a use as hand held devices dominate the industry. In this future digital age people will do everything on a personal device. The need for a wallet will disappear as QR-Codes become routine for paying at a checkout both in person and online.

Call me optimistic but am I just a realist who has taken a simplistic attitude on something that just makes sense.