In September 2010, Satoshi Nakamoto the creator of Bitcoin said when describing Bitcoin in the context of having it listed on Wikipedia:
“[…] The article could be as simple as something like: “Bitcoin is a peer-to-peer decentralised electronic currency. The more standard Wiki thing to do is that we should have a paragraph in one of the more general categories that we are an instance of, like Electronic Currency or Electronic Cash. We can probably establish a paragraph there. Again, keep it short. Just identifying what it is.”
When Bitcoin was published in the original Bitcoin whitepaper, the headline of the whitepaper was “Bitcoin: A Peer-to-Peer Electronic Cash System.” In the abstract description, the first sentence is “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.”
Now nearly 10 years after the publication of the Bitcoin whitepaper (October 31, 2008), we are finally seeing signs of growth and adoption as Bitcoin has renewed and re-energized itself in August 2017 with the rebirth of Bitcoin Cash (BCH). Bitcoin Cash is simply an upgraded version of Bitcoin, that was updated in 2017 which allows for Bitcoin to scale and grow as demand requires it.
Bitcoin merchant adoption grows
It wasn’t until the rebirth of Bitcoin being used as cash did we begin to see such adoption numbers. According to the merchant map (pictured) provided by Marco Coino, it shows that worldwide there are over 500+ merchants that accept Bitcoin Cash. The list is quickly growing, with merchants in every continent using Bitcoin as it was originally intended.
Merchants can save a considerable amount of money by accepting Bitcoin Cash as a payment method at their business. Credit cards and payment processors take exorbitant fees to process payments. On top of that there’s always a risk of credit card fraud and charge backs. Bitcoin Cash makes transacting online and in person secure, fast, and affordable for business owners. You can compare the fees here for a real-time check on why accepting Bitcoin is light years ahead of all other payment methods.
Acquiring Bitcoin has shown tremendous growth
Aside from merchant adoption and user’s spending Bitcoin Cash, they are also buying it all over the world. We have seen adoption in many countries, and according to this Bitcoin ATM map provided by Coin ATM Radar, there are over 1200+ Bitcoin Cash ATMs around the world where you can buy and sell digital cash quickly and easily.
Bitcoin ATM’s are another benefit for business owners, where adding an ATM to your location can be one of the best ways to increase revenue for your business.
People are downloading Bitcoin wallets in record numbers
It wasn’t long ago that Bitcoin.com launched it’s very own Bitcoin wallet, which is available on all operating systems. It’s only been a year as matter of fact, and in the last year, there have been over 3 million people that have downloaded and started using Bitcoin as cash with the simple yet secure wallet.
As you can see, Bitcoin is growing at a staggering pace and is scaling so that one day everyone can use it and provide economic freedom to the masses.