Bitcoin – Are There Really Online Business Opportunities Here?

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Can you imagine a holiday overseas where you don’t have to buy the local currency at exorbitant rates the banks charge? In fact, the banks are nowhere to be seen in the Bitcoin equation.

Well, this could become reality in the not so distant future with Bitcoin. Is this for real and what are the online business opportunities here?

Maybe none, but, alternately if you are interested in the Digital Gold Rush that’s happening right now, then you need to check this out.

What is Bitcoin?

What is this Bitcoin you ask? Well you just need to think of it as another currency, like Euros and Dollars, except the difference is they are exchanged Peer-To-Peer, much like Peer-To-Peer data exchange in the Information Technology world and therefore by passes the banks.

How Does Bitcoin Work?

The Bitcoin currency is stored electronically. Its value goes up and down just like other currencies and is subject to the economic principle of Supply and Demand, much like paper money does.

The exchange mechanisms are in their infancy, like the Internet was back in the 1990s, however you can buy real things like for example books, air travel and services.

The Future Bitcoin Model

So as time moves on into the future, it will most likely be possible to exchange quite readily your Bitcoins into many other currencies and use your Bitcoins at vending machines and cashpoint machines. Also, as the currency becomes more accepted, even retailers and service providers will start accepting Bitcoins with of course very little in transaction fees typical today with the card systems.

But, as this technology more and more becomes mainstream and accepted, you will likely see traders appearing and charging commissions, plus who knows what other charges. This sort of defeats the purpose of Bitcoin and the low cost of using the currency. So, the begs the question:

Are there really online business opportunities here for Internet entrepreneurs? If so then how do you cash in the opportunity? Without a platform, without systems, training and understanding on how to be a successful Internet entrepreneur you would miss any opportunity that present itself.

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