The Convenience of the Bitcoin Wiki

The bitcoin wiki contributes both the pros and cons for acquiring cryptocurrency. It has a host of volunteers all over the world who contribute time and effort into making the wiki a go to resource for up to date factual information and resources.

Let’s face it – the electronically encrypted currency, Bitcoin has entered the market. Albeit, it is not well known to the general public because of its high pricing and complex language, it still serves as a capable method of money transactions without the risks of misleads.

The  pros

Bitcoin provides benefits such as no wear and tear, no issues of water or fire, etc. Such attributes make it a convenient currency for transactions. The legality of this digital currency has been globally accepted now, but it still has to reach more than just the enthusiasts. Currently, the main issue is its association with market places so that it can be dexterously used for buying or selling stuff legitimately. In US, Bitcoins are available to be used in many cities, so it is not much of a problem to make purchases using this digital currency.

With Bitcoin, the transactions are so safe that there is no trouble of losing the money at all. The encryption key is known by the owner only. So, even if a Bitcoin is lost, a person would not be able to get the money without the encryption code for it. Another advantage of this electronic currency is the elimination of a real cash transaction, there are negligible chances of fake money.

This is a good way to deal with fraud money scams. 

Only 21 million such coins are to be made by 2140 – This can be a good thing because bitcoin can be broken down so many decimal points. This could potentially eliminate inflation, counterfeiting, robberies, scams and more…  but who knows perhaps the numbers might rise with time.

The bitcoin wiki cons 

However, most people are still not aware of this new currency in the market. They might have heard about it online when looking up for the Bitcoin wiki and other sources, but it is hard to convince people to make a purchase with this alternative currency.

In developing or under developed countries, where even credit cards have not reached fully, Bitcoins are still a long way to go because of the strangle hold that each countries have over the people’s economy. So, the question of facilitating this method of transaction is out of the line.

Even in many cities of USA, the currency has not been known despite its authenticity. Bitcoin will need a lot more volunteers besides the people who write for the bitcoin wiki to get it working. People are eagerly anticipating a change and it will take some foot soldiers to go into businesses, homes, and government agencies in order to help facilitate this much needed change.

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