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The National Distribution of Bitcoin is Frustrating to See

The famous occupy Wall Street movement focused on something very immediate and absurd about modern economics. The numbers are not exact, but the suggestion is that 99% of the population owns 1% of the money. This creates a massive and disturbing social shift as well as a polarity in the financial distribution. But this same spread is being realized in Bitcoin, the famous digital currency that is sweeping the nation.

Crypotcurrency OwnershipA December 2013 Business insider report states that 47 people own 30% of ALL Bitcoins. Yes, that is not 47,000 but just 47. This gives just a handful of people over a quarter of all the control of Bitcoin valuation. Now the spread is not directly related to its cost. But this kind of stranglehold over the Bitcoin market is alienating. It makes people want to stay away from it. It also can make drastic changes in value occur overnight.

Part of the appeal of Bitcoins is that they do not function like generic wavering stocks. The future of the system is in establishing some type of consistent value. Drastic changes make people scared of Bitcoin. They want nothing to do with a system that can cut the value of 1 to .5 in an hour. This type of inflation is what makes the US dollar so concerning. What Can be Done About ItSo what does this mean for the longevity of the famous digital currency? Economics is always present no matter if the currency is digital or tangible. A system built in this manner could disrupt the health of the economy, just as it is hurting the middle class in America. Hopefully, Bitcoin will ‘even out’ in some capacity.

Fortunately, more and more coins are being added to the system until it caps out in what is expected to be 2017. When the Bitcoin allocation ends, the system will likely level out as the commodity becomes less immediate. So the answer to this spread is to wait the system out. If this spread continues, Bitcoin does not have a particularly healthy future. Otherwise, patience is a virtue.

3 Things You Can Purchase with Bitcoin

Bitcoin is a new form of money that is designed to be used on and off the web. The most popular mode of usage is making online purchases. Bitcoins can be bought from others or accepted as payment for a product and can be used online for a number of things. Here are three essential items that can currently be bought with Bitcoin.

Electronics from a Technology GiantDell, one of the leading computer manufacturers, accepts Bitcoin. Customers can go onto the Dell website and purchase computers, drives, software, and related items with the Bitcoins they have amassed. Just log-in, choose your item, and checkout as with card payments, and you will be able to choose to pay with Bitcoins. Lesser known online stores Newegg, and TigerDirect, as well as the official Bitcoin Store, all offer electronics for Bitcoins as well.

Furniture from Sites Like “O”Overstock.com was the first retail giant to begin accepting Bitcoins. This company offers furniture along with many other products that can be bought with Bitcoin. Sofas, chairs, beds, dining tables and chairs, and more can be bought with Bitcoins on the Overstock.com site. Other items that can be bought from Overstock.com include TV’s, shoes, clothing, kitchenware, books, decorations, towels, and the list goes on. This is a well known retailer that is sure to influence other retailers to start accepting Bitcoin should all go well.

Airfare from Booking ServicesYou can go on a trip with Bitcoins as well. Flight tickets can be bought from CheapAir.com and BTCTrip, two American booking services. Theatre Tickets Direct offers airfare for Bitcoins in the United Kingdom, and AirBaltic offers plane tickets in Latvia for select destinations.

Many other products, such as jewelry, air conditioners, and flowers, can also be bought with Bitcoins from various online businesses. With the increasing popularity, and of course, the convenience of online buying, it is likely that Bitcoin will become accepted in many more places. Many will find it a more convenient to use currency that is not controlled by any one entity though taxes may still have to be paid on them. If Bitcoins interest you, consider looking into them for your online commerce.