Bitcoin Community Responsible For Lack of Virtual Currency Adoption
There are multiple factors responsible for the slow, and sometimes even stagnant growth of Bitcoin adoption around the world. Consumers are not being incentivized to use Bitcoin over traditional means, merchants are not properly educated on why Bitcoin is so important, and Bitcoin regulation is on everybody’s mind. But the biggest problem in all of this....
Related News
Following RBI's recent notification against Bitcoin use, crypto-companies in India have joined forces to create Blockchain and Virtual Currency Association. India now has its own blockchain association with leading Bitcoin companies as its members. The Blockchain and Virtual Currency Association of India recently had its first meeting in Mumbai last week. The Indian cryptocurrency industry is not having it easy. As the cryptocurrency’s adoption across the world increases, the Indian community has to struggle to get more people onboard amid poor internet penetration and lack of knowledge....
CoinTelegraph spoke with Adelola Sokoya, the founder of Swift eCurrency, a virtual currency exchange based in Lagos, Nigeria, about various aspects of the virtual currency market in Nigeria. The virtual currency market in Nigeria is still evolving. It is relatively well-organised, not regulated by the government, and has a huge potential for the whole of Africa. Awareness takes root. Lola started by describing Swift eCurrency as a company that simply buys and sells virtual currencies, including perfect money, Bitcoin, Neteller, PayPal, and Stp. He says that this is the major activity of....
It has been said that if bitcoin had first focused on its underlying blockchain technology rather than its payments capabilities, it may have gained wider adoption sooner. 2015, it seems, has been the year to confirm that theory. State and federal regulators have spent most of 2015 focused on the risks attendant to the use of virtual currency. These include the lack of consumer protection and anti-money laundering (AML) risks; a continued struggle to define virtual currency (is it "currency", "money", "property", "security", "commodity"); and how to create a workable regulatory framework....
This week the price of a Bitcoin soared to more than $260 - albeit for a short period of time. This was helped by a surge in media interest. This week has seen the number of articles on Bitcoin and virtual currency explode to an all time high. Journalists appear to be enjoying another internet story whose next chapter is unknown. Jonathan's test. Bitcoin media noise. There've been numerous attempts to suggest where it all might end up - many suggesting that Bitcoin is a flawed currency because of the way it is behaving. Today a Bitcoin ($116) will buy me a digital camera. Earlier this week....
Vietnam is set to join the growing list of nations that have legitimized Bitcoin. In the latest move, the government of the South East Asian country hinted at sanctioning virtual currencies, including Bitcoin. Absence of legal framework an obstacle for Bitcoin’s adoption. In a proposal, the Vietnamese authorities revealed that the lack of a legal framework regulating virtual currencies is robbing the country of investments. More so, just like the unfounded fear of many other governments that Bitcoin and other virtual currencies are a conduit for money laundering, smuggling, terrorism and....