Home Advertise Contact Blog Advertiser Login RSS
Newsletter Signup

Business Opportunities to Own
Home-Based Businesses
Choosing a Business Opportunity Growth and Profit Marketing and Sales
Plans and Goals Running Your Own Business Start-Up
Working From Home Entrepreneur Exchange Feature Articles
Opportunity Community Opportunity Focus In The News

Young Entrepreneurs Start-Up Advice —the best advice, helpful tips, and questions for the aspiring, young business owner.

To help you decide if you're ready to start a business, we’ve complied the best young...
Everyone will be hearing a lot from the newest addition to our staff: Digital Marketing Manager Hired Margaret Mallonée! This hire was a strategic move to enhance our staff for the new digital media platform we will be introducing in the weeks and months to come. Chicago,...

Slammed last year by what will surely be one of the most expensive and devastating natural disasters to ever hit the Northeast, millions of individuals, many of whom are work-at-home or other small business owners, are only now years later truly beginning to recover from the damage that Hurricane...


Sponsors

STARSCAPES®
Imagine making up to $500 to $1,800 a day! Call or click now see how you can get your business for FREE! (602) 679-0257
Promotional Products Home Business
Run Your Own Business. Be Your Own Boss. Earn Great Profit Potential. Start At A Low Cost. Try It For Free! Learn More.
Hurricane Recovery Resources for Business Opportunity Owners
in the wake of a crisis of this magnitude can be especially maddening, DisasterAssistance.gov is good place to start...
How Many Leads Does It Take To Close A Sale?
This article is now live on our blog and I know could be very insightful for many. Read On
Residual Income Business Opportunities
Residual Income is the way that you work once and get paid multiple times—sounds great!... Read On
Productivity Hacks — Our Top 50
Productivity Hacks will help you make more from less this 2016. Here at BusinessOpportunity.com we want to... Read On
Top 7 Reasons to Consider a CMS
The internet loves obscure abbreviations. You can skip over most of them, but not CMS. What is CMS? read on...
The Ideal Length of Everything Online, Including Social Media Posts
When one of your busiest marketing channels limits you to 140 characters, you know that the internet sets its own rules.
It Takes a Hot Voicemail to Land a Warm Lead
If you're a successful entrepreneur who provides others like you the chance to follow in your footsteps... Read On
Low Cost Business Opportunities to Own
Are your right for a Low Cost Business Opportunities to Own? The desire to own your own business... Read On
Sales Hack To Increase Your ROI and Productivity
Sales Hack to make you more money! Sales Hacks are not new, but how you use them is. We receive lots of emails.. Read On
The Top 10 Reasons to Buy a Business Opportunity or Franchise
Starting your own small business is part of the American Dream, right up there with owning your own home. Read On
7 Keys to Leading Highly Effective Sales Conversations
Most people's sales conversations could be better. Not a little better, significantly better. Read On
 
Resource Center > Article
Does Virtual Currency Have a Future? Notes from the Bitcoin Battlefield...
17 May 13 Posted by: Kathleen C Lanza
in Featured Articles
Share this Article:

If you’re a home-based or other business opportunity, franchise or other small business owner, particularly if you’re one who does most of your business online or across international borders, then you’ve probably heard about Bitcoin. Perhaps you’re all too familiar and are already involved with this somewhat revolutionary approach to buying and exchanging goods and services.

bitcoin1For those of you who need a refresher, Bitcoin is a relatively new online digital currency that is gaining some serious traction among small business owners. Trouble is that it’s been largely unregulated up until now, which, by the way, is pretty much the point. In fact, Bitcoin’s whole purpose is to create an online peer-to-peer electronic cash system that is not managed by any real central authority. (Witness the latest financial crises in places like Cyprus for a glimpse of what must have inspired its mysterious creator.)

Here’s the thing…

The last few days have witnessed a flurry of activity regarding Bitcoin, both in the mainstream and industry press, some of which might make you more inclined to think it may be the wave of the future and here to stay. All the rest? Not so much.

Let’s just say it’s confusing.

A study last week kicked off the whole mess, finding that while Bitcoin remains popular among many small business owners and that more of them still may be wondering if they should get on board, there are substantial risks involved. More specifically, it’s Bitcoin’s exchanges that are under siege, mostly by hackers, all of which puts the whole system in peril. Then yesterday’s Washington Post ran a piece detailing the assertion by a number of Congressmen that Bitcoin needs to be regulated. It has become an “online form of money laundering” for drug smugglers and dealers, they say, prompting the fed to take action this week and shut down the world’s leading Bitcoin exchange, Mt. Gox, pending further investigation. All of which has some pundits predicting Bitcoin’s imminent demise.

Not so fast. That view may be too pessimistic given yesterday’s show of confidence by the venture capitalist (VC) group Founders Fund, more commonly referred to as the "PayPal Mafia." Announcing a new $2 million investment in BitPay—aka “the startup with ambitions to become the PayPal of the Bitcoin world”—the VC cited both the company’s exponential growth and the fact that Bitcoin is having a positive impact on many companies’ bottom lines as key reasons for its decision.

In a recent interview for Small Business Trends, Assaf Scialom of iQDesk.net offered his take on the positive side of the coin, so to speak. “Bitcoin is good for online businesses that sell virtual goods, but it can (also) be good for small businesses selling goods that are easy to ship abroad,” he said. As for the other side? While touting its potential benefits, pundits have conceded that this is a currency option very much in its infancy, which means that some degree of risk is inevitable. “Never store money that you (can’t) afford to lose with Bitcoin,” seems to be the prevailing wisdom.

As with so many other decisions in business, it’s important to carefully measure your options, conduct a thorough cost-benefit analysis and make the decision that best advances your own and your small business’ growth and prosperity. Winner takes all, or buyer beware? With Bitcoin, it may be both. It’s your call.

Tell us what you think… Is Bitcoin the wave of the future, for small businesses in particular, or in general? Why? Have you used Bitcoin in obtaining the goods and services you need for your small business? We’d like to hear about your experience…

For more information on the Bitcoin debate as it currently stands, we recommend this required reading:

“The Coming Battle over Bitcoin,” The Washington Post

“Strategist Predicts End of Bitcoin,” CNN Money

“With PayPal-Like Ambitions for Bitcoin, BitPay Raises $2M Led By Founders Fund,” TechCrunch

“Small Business Owners Continue to Evaluate Bitcoins,” Small Business Trends

“Bitcoin Exchanges Represent Considerable Risk,” Small Business Trends

“It Could Be the Bureaucrats That Kill Bitcoin,” Forbes

 

 

Related Blog Posts
22 Sep 17 Posted by: Margaret Mallonée
in Featured Articles

Young Entrepreneurs Start-Up Advice —the best advice, helpful tips, and questions for the aspiring, young business owner.

To help you decide if you're ready to start a business, we’ve complied the best young...
14 Sep 17 Posted by: Kevin James Culp
in Featured Articles
Everyone will be hearing a lot from the newest addition to our staff: Digital Marketing Manager Hired Margaret Mallonée! This hire was a strategic move to enhance our staff for the new digital media platform we will be introducing in the weeks and months to come. Chicago,...
3 Sep 17 Posted by: Kathleen C Lanza
in Featured Articles

Slammed last year by what will surely be one of the most expensive and devastating natural disasters to ever hit the Northeast, millions of individuals, many of whom are work-at-home or other small business owners, are only now years later truly beginning to recover from the damage that Hurricane...

23 Aug 17 Posted by: Kevin James Culp
in Featured Articles

Marketing pumps leads and buyers into your business. There are multiple types of marketing methods, from paid advertising to social media. One of the most efficient is called drip marketing.

Here is a quick guide to drip marketing, an effective way to nurture leads using the power of automation. What...
18 Aug 17 Posted by: Kevin James Culp
in Featured Articles

Do you look around at your cubicle and dream of the day when you view the world from your yacht? You can do it, if you follow the right steps.

The dreamer’s road from wage slave to millennial millionaire is paved with hopeful thoughts. The winner’s road is built with one tiny change after another,...
 
   

I had the pleasure of setting down with Edwin Shoffner, CEO with Mattress by Appointment for BusinessOpportunity.com's very first Podcast that will be released on our new Digital Platform very soon.  Here is the transcript from that call for...
Read More

Video Spotlight

Virtual Financial A Home Business in Financial Services You are going to want to see this Video!

Virtual Financial Group


Premium Sponsor