Crypto Currencies Pt. IV
Key Take Aways
- Cryptocoins can be profitable investments.
- The majority of commodities can already be purchased with Bitcoins.
If you want to use your Cyptocoins, there are now many avenues open to you: Numerous online stores accept cryptocurrencies. Outside the Internet, however, the options are still limited: The service coinmap.org, for example, lists just under 9,000 stores around the world that accept cryptocurrencies.
A major problem with Bitcoin is that decision-making power is concentrated in a few mining pools, most of which are located in China. Bitcoin is therefore nowhere near as decentralized as many would like.
What many people do not know: Debit cards from the major credit card providers Visa or Mastercard can be topped up with Bitcoins or other cryptocoins — and then used for payment as normal. The blockchain-based payment service provider Bitwala also offers the option of paying bills via Bitcoin.
Not only Bitcoins Bitcoin is considered the “mother of all cryptocoins” and is the best-known and most widespread cryptocurrency. Bitcoins dominated for a long time with 80 to 90 percent of the market capitalization of cryptocoins. That changed in the first half of 2017, with its market share falling below 50 percent. And for all its popularity, Bitcoin also has weaknesses. For one thing, anonymity is not always ensured, for example if one knows the address of a sender; moreover, transaction patterns can be analyzed and conclusions drawn from them. For another, confirmation times are long.
Whether flights, hotels, pizza, jewels or alpaca socks, there is hardly a good or service that cannot be bought for Bitcoins.
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M.Sc. Ehsan Allahyar Parsa is head of marketing at the Blockchain Founders Group — a venture capitalist & company builder backing Basenode.io. In 2020, he was ranked as one of the “Top 100 Shapers” in the DACH region. Further, he speaks 10 languages and has traveled to 30+ countries, of which he has already worked in 9 spread over 3 continents. He has already been honored by the Chancellor for his social & political commitment at the tender age of 23. As a sought-after international speaker, the serial entrepreneur is renowned for his speeches on numerous stages like the German Shark Tank Primetime TV Show (DHDL) and the United Nations General Assembly in New York. Feel free to contact him via Mail , Instagram or LinkedIn,
