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  • Bitcoin: The Anti-Currency Just Crossed the Billion Mark
Technology Articles > Software > Business > Bitcoin: The Anti-Currency Just Crossed the $1 Billion Mark

Bitcoin is an unregulated currency used by various Internet sites. Presently, there are 10.9 million Bitcoins in circulation, and this currency has just passed the one-billion dollar market threshold.

Bitcoins aren't really anything new, though. The coins have been around since 2009. However, many sites are beginning to adopt this currency in lieu of other payment options like PayPal. Why? For various reasons. One of those reasons being that Bitcoins are hard to trace.

Bitcoin also happens to be the preferred (and untraceable) currency of choice when it comes to questionable sites like "Silk Road" (the marketplace that sells illegal goods). It is that reputation that has kept some people, and websites, from adopting Bitcoins, but all of that seems to be changing.

Bitcoins Become More Popular

There are a few reasons why Bitcoin is becoming so popular. One of those reasons is that there's absolutely no government control over this virtual currency. Secondly, Bitcoin seems to be the popular new currency option of choice for many startups. Bitcoin is an alternative to sites like PayPal that charge users absorbent fees, so startups are giving customers a Bitcoin option instead.

In addition to startups, sites like WordPress, Reddit, and Namecheap are jumping on the Bitcoin bandwagon. Suddenly, a currency with no government control and no real regulations is taking over the Internet. But, the U.S. Government is taking Bitcoin seriously now.

Regulations to Come?

FinCEN just published a list of terms that will apply directly to de-regulated currencies like Bitcoin. This is both a good and a bad thing, it seems. Guidelines do make a currency like this one seem more trustworthy, and that means that more people would likely use the currency. On the flip side, Bitcoin may soon be regulated in some manner.

Regulating this currency would make it harder for sites like Silk Road to operate. There's no doubt that a Bitcoin storm is brewing, either. Governments aren't likely to let unregulated, untraceable, currencies like this one exist for long. And now that Bitcoin has drawn a massive amount of attention by reaching that $1 Billion mark, governments are going to start taking more notice.

Amazed, Awed, and Stunned

The absolutely amazing thing about Bitcoin is that it began as a kind of imaginary currency that materialized overnight. Developed by an economist and mathematician, Bitcoin exploded quickly. Now that the currency has reached that mind-blowing market threshold, the whole concept is really amazing.

So, if you're not familiar with Bitcoin, now might be the time to look back through the articles on this site. Articles like this {{http://bitcoin-curency-program.articles.r-tt.com/|one}} that explain the concept to Bitcoin clearly. If you use a site like Reddit or WordPress, you can even put Bitcoins to real life use.

You may find the whole concept strange or bizarre, but it's definitely a concept that you'll be hearing more about -- especially as authorities try to regulate it. Stay tuned for more news about the currency that began as a mere theory -- there's bound to be additional news to come!