“Sorry, Bitcoin: Cash Is Still King Around the World.”
So says an article that Time published in its money section last month. The article is based on research published by the International Journal of Central Banking (IJCB), which showed consumers around the world still prefer cash to electronic payment methods. According to the IJCB report:
“Cash is still used extensively — particularly for low-value transactions. In some European countries such as Austria and Germany, cash even dominates consumer payment choices for all transaction values.”
While the IJCB report doesn’t mention bitcoin, the author of the Time article interpreted the data as bad news for bitcoin.
However, a careful read of the report discloses the opposite: The fact that people prefer cash to electronic payment methods is actually good news for bitcoin.Read more here ->
http://venturebeat.com/2017/01/31/people-prefer-cash-and-thats-good-news-for-bitcoin/
