This is the third article in the Impakter magazine series about Bitcoin. Written by my sociologist friend Hannah Fischer-Lauder, it explores the question of what is needed to make cryptocurrencies usable as means of exchange. Here's the beginning:
On 23 January, Stripe, the major firm that supports Bitcoin payments – it does so for more than 100,000 businesses online – announced that it would start winding down its support immediately and stop all transactions by 23 April.
A thunderbolt in a clear blue sky that caught many Bitcoin investors unprepared, did it mark a watershed in the history of digital currencies?
Let’s put the Stripe decision in perspective.
Read the rest on Impakter, click here.
On 23 January, Stripe, the major firm that supports Bitcoin payments – it does so for more than 100,000 businesses online – announced that it would start winding down its support immediately and stop all transactions by 23 April.
A thunderbolt in a clear blue sky that caught many Bitcoin investors unprepared, did it mark a watershed in the history of digital currencies?
THE ABOVE DESCRIBES STRIPE SERVICES (SEPTEMBER 2015) SOURCE: KINETICGROWTH.COM
If Bitcoin cannot be used as a means of exchange in a potential market of 100,000 businesses, then, surely, it is the end of its role as a currency – after all, enabling transactions is one of the two fundamental roles of currencies. The other is acting as a store of value. And we all know how that went, with Bitcoin’s infamous volatility.Let’s put the Stripe decision in perspective.
Read the rest on Impakter, click here.
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