There’s always a certain amount of skepticism around online currencies, but Bitcoin seems to be one that is lasting and becoming more and more widely used. An increasing number of businesses are accepting it as payment for goods and services, and it’s not just big businesses.  Recently, Sinéad Nic Lámha Pilates http://sncpilates.com/ in Castleknock announced she is now accepting Bitcoin for her classes!

Bitcoin, released in 2009, uses is an innovative payment network. It uses peer-to-peer technology to operate, meaning users can transact directly without needing an intermediary.

Bitcoin in the news:
A Bitcoin start-up 21 Inc has raised US$116m in funding, surprising many! This is a business that sees many more opportunities than just online currencies with regard to bitcoin’s construction, reports Silicon Republic

The Wall Street Journal recently published an article regarding Barry Silbert’s Bitcoin Investment Trust which is about to become the first publicly traded bitcoin fund. Closer to home in Europe, www.techcrunch.com mentions that amid talk of Greece exiting the Euro, there have been suggestions that they should switch to Bitcoin.

Australian website, Gizmodo tells us that New York City will soon let you pay for parking with Bitcoin. On bitcoinirl.ie/news we can see that nearly one year after the introduction of Ireland’s 1st Bitcoin ATM by Bitex.ie in GSMsolutions Dublin store, a 2nd one has been introduced to the South side of Dublin.

*Ireland now ranks 4th in the top 5 countries for Bitcoin ATMs. Bitcoin’s popularity and uses are growing steadily. Could this be the future world currency?

Posted by: Aoife Conway | Connect on LinkedIn