BitCoin: a digital currency first introduced in early 2013 by a mysterious programmer (or several programmers) by the pseudonym Satotshi Nakamoto. BitCoin successfully found feasible solutions to some of the issues that arose with previous, failed versions of digital currencies (Internetcash.com, Beenz, E-Gold) and has since then been universally recognized as a legitimate currency and can be used to purchase things from groceries to real estate. The first-ever BitCoin users were mainly composed of investors who were looking to make profit from the currency, libertarians who seeked freedom from government control, and tech geeks who were interested in the development and technology of a digital currency.
A recent news article states that researchers on BitCoin have found that the original demographic for BitCoin users have dramatically changed since its initial launch. An online survey stated that in the early years of development, 42% of 1,000 people categorized themselves as a libertarian and that their purpose of using BitCoin would be to pardon themselves from the government. Nowadays, less than 20% of people label themselves that way. Diversity in the people interested in this digital currency is growing, and with varied use comes acceptance.
With changing times and newfound technology, it is appropriate for consumers to adjust to these new methods of purchasing things. Not only are the algorithms behind BitCoin reliable and fair to the growth of the currency, but the fundamental value in using BitCoin is to have a currency that truly belongs to the people. It is accepted internationally, and the margins to the expansion of BitCoin-accepting markets is steadily growing. I believe that more people should take an interest in BitCoin, solely because 1) there’s no negative impact on the user, and 2) as a safety precaution in case international economies go into depression.
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