Bitcoin Huge in 2015

Reasons Why Bitcoin Will Be Huge in 2015

While Bitcoin is only five years old the technology is rapidly becoming a major force across the world.  Below are some reasons why Bitcoin will be huge in 2015.

Huge Increase in Venture Capital Invested in Bitcoin Companies

$260 million of venture capital has been invested into Bitcoin companies, more than 50% of that happening in 2014 alone.  Investment Firms such as Andreessen Horowitz, 500 Startups, Boost VC, Pantera, Ribbit, and more, are showing a lot of support for the Bitcoin ecosystem. 2015 will only continue with this trend.

PayPal Partnered with BitPay, Coinbase, and GoCoin to Accept Bitcoin

With over 150 million registered users, PayPal is a huge player in the world of transactions. This year it was announced that PayPal will be partnering with BitPay, Coinbase, and GoCoin, to enable all PayPal users to buy and sell things with Bitcoin.

Major Companies Adopting Bitcoin

The last couple of years has been tremendous for the adoption of Bitcoin. Not only are companies like Stripe and PayPal adopting Bitcoin, but major merchants like Microsoft, Dell, DirecTV, CheapAir, LeapMotion, and 1–800-Flowers have come on board. This recent acceleration of Bitcoin adoption is all thanks to companies like Coinbase and BitPay, who are currently leading the industry in merchant services.

Major Bitcoin ETF Coming To Wallstreet

The Winklevoss Bitcoin ETF is set to go online very soon. You might remember the Winklevoss twin brothers from the movie The Social Network where they sued Mark Zuckerburg and Facebook to win 50 million dollars. Since then the twins have moved on to start a Bitcoin ETF named the Winklevoss Bitcoin Trust. Once it begins trading, expect the price to soar to new levels.

Major Bitcoin Marketing Campaigns are Occurring

In the last couple of years there has been a lot more marking campaigns happening for Bitcoin. The North American Bitcoin Car Giveaway to the most recent Bitcoin St. Petersburg Bowl in Florida, take new levels of advertising, marketing and branding that have been happening to raise awareness for Bitcoin in fun and creative ways. There are only more massive campaigns coming in 2015 and beyond.

Bitcoin across the world.

Bitcoin is growing around the world.

These are just some of the reasons that Bitcoin will be huge in 2015.  Stay tuned for more breaking news and updates on Bitcoin and other cryptocurrencies at Techpurge.

  • Ignoring for a moment the use of the Bitcoin system for nefarious purposes, the choice of payment method, from those offered by a retail merchant, is driven by the payer who usually bears, directly, none of the cost of such choice. Why then would any online buyer choose to complicate any retail transaction, particularly a “local” transaction, by paying with Bitcoin, which is effectively a “foreign” currency, and a volatile one at that, that you have to buy/sell at a negotiated price and requires a 1% buy/sell fee at either end of every transaction (ie, 2% total) for a prompt processing (otherwise you are effectively speculating in foreign currency), and has no transaction dispute moderation process?

    Bitcoin is not even cheaper. The average cost to a merchant of a MasterCard/Visa credit card transaction is one per cent. One per cent! That is, between ~0.5% and ~1.9% depending on the amount of business that the merchant is putting through their merchant account. For those merchants that have sufficient markup that they are prepared to accept Amex cards, the average fee is ~2%.

    Then, some of the fanboys keep telling me that there is no cost involved until you do $1,000,000 in transactions, and then it’s only a few cents per transaction. Yet, in the meantime, someone is storing these Bitcoins—taking the risk of the rise and fall of the value of this “foreign” currency; someone is brokering the buy/sell of these Bitcoins; someone is doing the foreign currency conversions for these transactions—and, apparently, it’s all being done at no charge to the user! I see no commercial future in this business plan …

    “Bitcoin’s financial network is doomed”—Henry Farrell, in The Washington Post.

    Bitcoin—a fake currency that techno-utopians insist is the future we don’t know we want.—Matt O’Brien, Washington Post.

    Retail Payments—The Reality …