There's plenty of news about Bitcoin. Is it a fad or getting a foothold?

Discussion in 'LoyaltyMatch' started by @LoyaltyMatch, Jan 18, 2014.  |  Print Topic

  1. Yesterday, the Sacremento Kings announced that it will be the first professional sports team to accept Bitcoins for payment for tickets and team merchandise. A day earlier snapCard launched a "pay-the-IRS' service for its customers. Big news for digital currency believers.

    With all the hype in recent months people are asking two questions: what is Bitcoin and is it a fad that will fizzle out?

    The answer to the first question is easy. Bitcoin is an innovative payment network and a new kind of money that uses peer-to-peer technology to operate with no central authority or banks. It offers an exciting new way to do business while providing significant advantages to merchants,including lower transaction fees than credit cards.

    The answer to the question will it last is more difficult. The value of Bitcoins has been up and down in recent months and some governments are looking at it with a wary eye. This has made some observers and money "experts" doubt it's staying power.

    At LoyaltyMatch we believe digital currencies held in digital wallets are here to stay. When we look into our crystal ball we see a world where we are paying with Bitcoins for tickets to cheer on our teams and enjoy our favorite music acts. We'll be using them to book flights and pay for hotels or maybe just shopping online at home. We don't believe that Bitcoins will replace government issued currencies entirely. But, we do see in the future that businesses that do not not accept them will lose customers. Our recommendation -- get on board, be a believer and prepare for a future that includes Bitcoins.

    More information is available at

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  2. wedeals

    wedeals New Member

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    how can i spend air time or loyalty points for BTC or egift card (amazon, itune)?
  3. Gargoyle
    Original Member

    Gargoyle Milepoint Guide

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    Bitcoin is lookin' pretty shaky today...

    The biggest exchange went poof, and $350M worth of bitcoins are unaccountable.
    WilliamQ likes this.
  4. WilliamQ

    WilliamQ Gold Member

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    I like new technology but I believe there's a reason why most reputable currencies are backed up either by gold or a government (you have to trust something :))

    All the anonymity, "ease", speed of transactions and "lower" (definitely not free) cost of transactions sounds attractive and sexy but I will still be sticking to real world currencies for now.
    Gargoyle likes this.

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