Why Don’t We See Many People Buying with Bitcoin?

We can use bitcoin to buy almost anything these days, or at least that’s what we read about in the news. But how many people are really paying with bitcoin to buy goods and services from those vendors who accept bitcoin? The answer to this question is a bit disappointing. It is because not many people are really using bitcoin to buy goods and services, even while doing business with vendors who accept bitcoin.

Unless the bitcoins out there in the ether starts circulating on a regular basis, we can’t expect the rate of bitcoin adoption to improve. We have lots of bitcoin payment processors who are enabling merchants to accept bitcoins across the world. But still when we take a head count of the number of merchants across various geographies accepting bitcoin, we will find the distribution to be uneven. The western countries like United States, United Kingdom, Canada, Netherlands and Germany have more merchants who accept bitcoin compared to Asian and Eurasian countries.

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Coinmap shows that at present there are close to 7000 businesses across

Read more ... source: TheBitcoinNews