The possibilities for bitcoin as a billing medium for payments for goods and services will increase. And as Goldman Sachs experts claim in their report “the difficulties in implementing bitcoin in the payment system are overcoming”.
I believe there will come a day when I will pay for my purchases in a supermarket or smaller shop with bitcoins. Many companies in uk already provide this form of payment. In the very distant future bitcoin will start to replace payment processors such as PayPal and then regular currencies.
On April 1, 2017 the Japanese government gave Bitcoin the official status of “prepaid means of payment”. Since then, the general interest in this crypto currency, both among the Japanese society and the businesses operating there, has gained significant momentum. It was enough for Bitcoin to break another record after a month.
What value can Bitcoin have in the future?
It’s hard to judge, but I decided to do some calculations.
There can only be 21 million Bitcoins. There are already about 7.5 billion people in the world.
Assuming that all bitcoins are already mined and everyone would like to have a bitcoin currency then if we divide equally for each person on earth everyone will get only 0.0028 BTC which at the current rate of 8500 dollars/1BTC equals 23.8 dollars not much, right?
The conclusions are self-evident: 0.0028 BTC may then be worth tens of thousands.
Bitcoin is divisible to 8 decimal places so it will be quietly possible for its value to grow.
Wences Casares, Xapo’s wallet CEO and PayPal’s board of directors predict that it could be a million dollars for 1 BTC within 5-10 years. Am I urging you to buy Bitcoin? Nobody wants to encourage but I think it’s a big mistake not to buy it now.