If the price of Bitcoin does not rise soon mining will continue to be close to unprofitable and many changes could happen. On the upside, it seems no one seems to care about the low prices currently of Bitcoin and many are pushing forward with ideas and integration into banks and more. Paypal has described the new adventure as speculative as it monitors consumer behavior. At the same time, they love the added security and additional web based functions it can add to its platform of worldwide accepted currency exchanges already.
If you look at the list of companies that accept Bitcoin now it already looks like modern American companies are already jumping in with two feet. We know the Chinese markets are already struggling with the ideas but they seem to have little power over the blockchain. The ideas will surpass any ideals of a country as the practice is what is the most important. Bitcoin and the blockchain provide so much more than any normal currency or trading market does it is inconceivable for anyone or any entity to not be interested and they will soon evolve into using it.
Prices for Bitcoin have been speculated to be as high as $10,000 USD per Bitcoin in 2014. Soon the USD will not be part of the analogy. The USD will not be wanted or needed, it will lose traction as will every other currency. Within 10 years every other currency will be unknown unless tied into a crypto form. It is very relevant that the future is here and many are joining now, others will just have to follow.
While companies switch and bait the BTC into fiat on a daily basis others of us hold it as investments. Holding something great while its young is always better than getting involved with it later when it has matured. As usual the price of BTC follows a trend already that should arrive soon when many see the economic impact of it and realize they can buy stocks of companies that now deal with Bitcoin. Seasonal spending will also be very relevant as in normal economics. The facts that Paypal will gather over the next 6 months will change the outcome of how easy it is to use Bitcoin worldwide. We expect they will see even more obvious immediate effects.
As mentioned recently, Paypal has over 143 million active users, worth 9.9billion USDollars in 2013 ctivity. That alone is incredible. Add a more secure process, with better results and cheaper costs, guess what you get? Bitcoin!
Paypal may as well be the major competitors to Coinbase, OKCoin, and Bitpay. The future of the blockchain idea will grow as the interest and growth of crypto-currencies grows.
The future of modern economics and freedom are going to evolve even more. Its called Bitcoin.
One Day! One Time! One Idea! One!