It is sometimes very hard to imagine something which may compare to Bitcoin in terms of excitement and opportunities. In fact, the recent years haven’t witnessed a product or an initiative, which comes even close to what the Bitcoin industry has achieved in the similar timeframe. Governments are examining the technology and concept behind the digital currencies, big names such as Microsoft and Dell have included Bitcoin as payment methods, and the tech-savvy customers of today are clearly appreciating it as the new-age currency.
In a recent poll conducted on The Wall Street Journal’s Money Beat blog, a reassuring 83% of the respondents believed that digital currencies such as Bitcoin indeed have a future. Readers from all around the globe expressed their desire to see it as a future currency.
Here is an edited excerpt of a response which valued the Bitcoin revolution as highly as the Railroads and the Internet Revolution:
“Bitcoin is one of the most important innovations of our generation—and comparable in impact to railroads, automobiles, telephony, Internet, etc., if not more.” – Chicago
The same optimism was shared by several other users who see Bitcoin transforming the traditional payment system and something which could connect globally as well.
However, some of the respondents were strictly against the cryptocurrency because of its high volatility and its deregulated nature.
“The currency is not backed by any central government and therefore is extremely unstable. Bitcoin may be an easy sell in countries that have unstable currencies and governments, but convincing Westerners to use it will be very difficult.” – Vancouver
The Bitcoin community would sure love to see the remaining 17% join the Bitcoin bandwagon. And with the digital currency landscape expanding faster than ever and issues like stability being investigated, there is a good probability of that happening soon!
LMras 
Neal Palmquist 
Devin Dollar 
The Russian Ruble is backed by the might and machinery of Russia, yet lost more than half it’s value in a few months last year. The Japanese Yen is backed by the stable Japanese government, the world’s third largest economy – yet it lost 40% of it’s value in 2013. I could go on. And the fiat people call Bitcoin “inherently unstable”? Buffoons… I’d say Bitcoin is CURRENTLY unstable, due to still low market capitilization, while being inherently STABLE long term. Fiat on the other hand, is currently, mostly stable short term, while being inherently unstable long term due to the perpetual temptation of the printing press.
I’d say the Russian Ruble is backed by the value of oil, so no matter how mighty Russia is, its currency depends on the value of its largest industry. As for the yen, it’s backed by its economy, as well, which has been in the ditch ever since its bubble burst and consumerism took a dive. The only thing that would get them back on their feet is if the banks cut their debt and advocated consumerism. But yeah, that only proves further that fiat currencies are incredibly unstable, since they’re, in reality, backed by nothing – or at least, far less than bitcoin.
As if it is not very simple for a suicide cult to skew the results of a non-scientific poll.
Does Hal Finney have a future? That’s the poll I want to see.
Hi Neal!
If you used the time you spent commenting on bitcoin posts actually working you’d be a bloody millionaire.
Yes bitcoin has a future. It looks a lot like it’s present. Bitcoin is useful because it is both a medium and a method of exchange. As long as it remains a lingua franca of money transfer and does not try to become a store of wealth it will continue to grow and prosper.
It is not a wise idea to hold onto bitcoin. It is not a commodity. It is a mathematical construct. Keep some laying around like you do the change in your pocket when coming back from an international vacation sure. But don’t think for a minute that thousands invested today will be worth millions tomorrow.
Maybe one day it will be, but there needs to be a market for the money and when that market comes the price will stabilize and these swings will go away. It might be a steady climb up in value do to deflation and attrition. Just don’t expect $10k next year and dont invest more than you can loose because it’s much more likely to go to zero than anything.
Im still long on bitcoin. But im long-term long. Im willing to ride these charts like a cowboy at a rodeo for one reason and one reason only. I want the stuff that money can buy and you can make money in a downmarket or an up market you just need to know how.
Don’t marry your just investments unless you’re willing to divorce your assets.