Should small business owners use Bitcoin?

Posted by noahparsons under Technology
From http://upandrunning.bplans.com 4253 days ago
Made Hot by: bizyolk on April 11, 2013 10:34 am

As more merchants jump on the Bitcoin bandwagon, you may be wondering if you should look into Bitcoin yourself. Let’s take a closer look.

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Comments

Written by DaveCannon
4248 days ago

I believe the moral hazard of a money supply driven by political forces was one of the concerns that lead to the creation of Bitcoin. The supply of Bitcoins grows slowly over time, so it can't really be manipulated by a central bank. The community claims that prices should stabilize, but it could be awhile, with speculators driving up the price and the risk of hackers periodically driving it down.

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Written by lyceum
4248 days ago

Dave Cannon is asking the following question at the end of the post:

"Have you looked into accepting Bitcoin payments, or do you already use Bitcoins for purchases? Chime in on our comments and tell us your experience."

I have tried to downloaded the Bitcoin app on my computer, but I haven't used it yet. I have done some research on this electronic currency I am afraid about the price the developed in the near future. It looks like hyped phenomena. Who is behind this currency? Doesn't the creation of an electronic currency has a similarity with printing more paper (fiat) money? What is the backing of the system?

Personally I would look into alternative forms of money and terms of payment, e.g., GoldMoney and real gold and silver coins, for example the American Silver Eagle. I will write about this topic on my blog, Objective Argentum.

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