ForexMinute.com – There is indeed a thin line between ‘Bitcoin as money’ and ‘Bitcoin as a trend’. There is no doubt that the Satoshi Nakamoto’s brainchild is now the father of the next generation economy, but somewhat merchants and businesses with weak technical backgrounds tried to avoid it by blaming its complexities. This is when the Bitcoin was just money.
Incidentally, it’s a trend a now.
Even by not saying it directly, BitPay co-founder Ton Gallippi makes some substantial remarks about the certain negligence today’s cryptocurrency businesses have, especially in the understanding department. In his five-question interview to Bitcoin Owl, the man recommends businesses to study even the basics of Bitcoin before they start accepting it as one of their payment modes.
“We believe that businesses who accept bitcoin need to have a basic understanding of the technology. This is why we hold educational meetings to help individuals and businesses understand the software and how they can use it,” Gallippi responded when being asked to give some advice to new Bitcoin businesses.
And of course he hits the right node here. Not understanding the currency and following it just because it’s “cool” is unjustifiable. If one considers, there is more chances of these businesses of bouncing back from Bitcoin, rather than sticking to it. Also, a no-knowledge scenario makes these businesses to exchange Bitcoin with fiat currencies as soon as they receive them, which is somehow not recommendable for Bitcoin’s internal economy.
What are your views on it? Comment below and let us know.
To contact the reporter of the story: Yashu Gola at firstname.lastname@example.org
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