Low Use of Bitcoin concerning Its Supporters
Joe Dincer-Ubl / 3 years ago
Despite the large number of online stores and services accepting bitcoins being over 100,000 worldwide, the volatile cryptocurrency usage remains low. Unfortunately for these supports, bitcoins decreasing value is not helping and possibly scaring away more potential investors and customers. However, supporters are urging owners to show patience through this rough time, as potential uses for bitcoins go beyond just finance. David Termac, a professor of finance at New York University Stern Schoold of Business said:
“There are some breakthroughs in technology that are going to endure whether bitcoin survives or not.”
Only more troubling during this time is the recent shutdown of bitcoin exchanges and other companies, which resulted in another case of missing bitcoins. In the end, if the cryptocurrency is to begin a recovery process, and bitcoin wallets start seeing more uses, there may be hope for its survival.