Bitcoin Advocates Should Foster Adoption Through Traditional Means

One of the heavy topics of debate, which has been going on for years now, is whether or not Bitcoin is ready for mainstream consumption.  Despite the increase in venture capitalist funds in both 2014 and 2015, the overall performance of this disruptive virtual currency has been rather lackluster.  Or that is what the everyday consumer seems to think, even though that vision is not shared by everyone.

Bitcoin Remains a Medium For Professional and Private InvestmentDigitalMoneyTimes_Bitcoin Logo Fancy

When looking at things from a financial perspective, Bitcoin is ticking all the right boxes, other than mainstream adoption [for now].  Most everyday consumers, as well as politicians, regulators, and legislators, see Bitcoin as a form of barter, rather than an actual currency.  This is where they are sorely mistaken, as Bitcoin has evolved into a proper online payment method that transcends the predetermined borders of being labelled as a bartering unit.

Granted, there has been a lot of focus on the Bitcoin price over the past three years, ever since the disruptive digital currency saw a price peak of well over US$1,100.  However, that price point was an accumulation of a nearly corrupt Bitcoin exchange – Mt. Gox – deploying a trading bot to push up the price artificially.  For some reason, mainstream media enjoys focusing on this pivotal time in Bitcoin history.

“For Bitcoin to graduate from a unit of barter to a fully-fledged currency, there have to be certain tools available to accommodate those transacting business.  We are one of the earliest, though certainly not the only company that has entered the digital currency market to develop services needed to fill these gaps in the bitcoin ecosystem.” – First Global Credit CEO Gavin Smith stated in a press release.

Despite the “lackluster” onlook of the Bitcoin trading charts, there has been a growing interest in both the digital currency and its underlying blockchain technology.  Major players, such as CitiGroup, Barclays, Santander, and even quite a few people active on Wall Street, have openly shown their interest in exploring this new technological landscape.

Furthermore, Bitcoin education efforts are taking place on a more frequent basis in the US.  The Digital Currency Tools for Trading and Investment Panel, which takes place on September 30th, is designed to introduce high-level Wall Street traders to Bitcoin and blockchain technology.

There is a lot more to a Bitcoin introduction than just explaining the benefits of trading virtual currency all day.  In recent months, there has been a growing focus on Bitcoin regulation and legislation, both of which remain important aspects of giving the digital currency a more legitimate status in the world.

Fostering Bitcoin Adoption Through Traditional ToolsDigitalMoneyTimes_Gavin Smith First Global Credit

Pushing the Bitcoin agenda has proven to be quite a difficult task.  Virtual currencies are showing mainstream consumers how our current financial ecosystem is failing and offers a viable solution.  But for some reason, the mainstream consumer is not aware –  or does not want to see –  the problem that is staring them in the face.

First Global Credit CEO Gavin Smith will be part of a Bitcoin Capital Market talk on Wednesday, October 7, 2015.  The main goal of this presentation will be to address the usage of traditional products and instruments to raise Bitcoin awareness.  Digital currency advocates have the responsibility to foster the transition for Bitcoin and help shape it into a part of the world’s financial ecosystem.

Source: First Global Credit

Images courtesy of Gavin Smith, Shutterstock