btc vs banking feature

How Bitcoin Can and Will Disrupt the Financial System

Bitcoin Can and Will Disrupt the Financial System

How Bitcoin Can and Will Disrupt the Financial System

Sponsored by: Newnote Financial (CSE: NEU)

The mainstream adoption of bitcoin has started to snowball and many financial institutions have taken note. In fact, the influence of bitcoin is so strong that a senior Central Bank of Ireland official has gone on record to state that, “virtual and digital currencies can challenge the sovereignty of states.” Equally as impressive, last month Google and Yahoo added the price of Bitcoin to their finance networks.

That said, what we have seen thus far is likely just the tip of the iceberg. Many VCs, including Marc Andreessen, believe the future of the blockchain and cryptocurrency to be extremely bright. Bitcoin and altcoins are empowering users by eliminating, or minimizing, many financial intermediaries. This has the potential to be a massive disruption and opportunity.

Bitcoin is P2P, decentralized, and open source. Hundreds of startups and entrepreneurs are finding new ways to build upon Bitcoin and blockchain technology to create financial service possibilities ranging from escrow to bitcoin based loans. This tech is even being applied to voting, music distribution, and DNS services.

Worldwide, bitcoin is now accepted by over 100,000 merchants with transactions averaging the equivalent of $78 million per day. While that is only a fraction of credit card transaction volume, some would say that is why it still such a great opportunity for speculation.

Newnote (CSE: NEU) is a diversified Crypto Currency financial services provider, offering a range of services that involve digital currency payment solutions, including Bitcoin.

  • Duncan Black

    Interesting piece to initiate discussion. Bearing in mind Bitcoin will grow exponentially (population dynamics), I have used prices to date (from inception at the beginning of 2010) to plot that curve and fit a linear regression line to the log-curve. This predicts the price of Bitcoin as $1,000 in 2014; $10,000 by end of 2015; and $100,000 by 2017 and $1 million by 2020. However, I have difficulty determining when it will plateau – this of course depends on the percentage of the population that take up Bitcoin. Can anyone else confirm these figures or even give comment – and possibly give input on when they feel we will hit plateau? Thank you.

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