The digital currency bitcoin continues to enter the mainstream with one Las Vegas commercial developer putting his mansion on the market for $7.85 million. Despite the steep price of the house, the seller has stated that he is willing to accept bitcoins as payment, bringing the currency further into the spotlight as its value skyrockets. With bitcoin value nearing $900, many consumers are starting to take notice of the currency and its potential to be an efficient and reliable alternative to traditional currencies. Those who already pay with bitcoin are watching more and more of their favorite goods and services embrace the currency.
Vegas Developer Wants Bitcoin
Houses are just the latest items available for purchase with bitcoin. Consumers who choose to pay with bitcoin can buy their favorite goods from special websites, including electronics, home goods, office supplies, and more.The seller, Jack Sommer, is a former casino owner. He was introduced to bitcoin by his sons, both of whom are active in mining and trading bitcoins. According to Fox News, Sommer believes:
“The advantage is that we’re expanding our market and adding some notoriety.”
With bitcoin value expected to continue its meteoric rise, many consumers around the world are starting to make major purchases and investments in the digital currency. Just last month, Sir Richard Branson of Virgin Galactic announced he would accept bitcoins as payment for private flights into space.
The History of Bitcoin
Bitcoin began back in 2009, when an unknown developer introduced it to the online community. The formative years were relatively quiet—the value of bitcoin is determined solely by what people decide it is worth. As bitcoin enthusiasts began to catch on to the currency’s untraceable nature, it gained a high popularity among black market buyers and sellers, and was used to traffic drugs and illegal services. However, many others embraced bitcoin as a safe and efficient method to purchase legal goods online without the need for bank or credit card numbers. Once the US Federal Reserve announced that they too have embraced bitcoin, investors and traders worldwide saw the exchange rate for bitcoins soar to just under $900.
Pay with Bitcoin: The Future
There is no end in sight for bitcoin’s success. Most bitcoin mining has either come to a stop or has slowed to a crawl—the limited number of bitcoins in the world are controlled by investors and traders. Bitcoin exchange markets such as BTC China have opened and are creating a new industry that is proving to be extremely profitable. With the federal government not seeking to place any regulation laws or restrictions on the currency, consumers everywhere can collect and pay with bitcoin for as long as they see fit.
Instabill’s Bitcoin Merchant Services
Instabill has always provided high-quality merchant services to e-commerce businesses around the globe. Now, through our extensive network of offshore and domestic banking partners, we can offer the same great solutions for bitcoin merchants. Despite the success of the currency, the bitcoin industry is still considered high risk. Instabill is among the top credit card processors for high risk industries in the world. Our offshore banking partners are eager to provide merchant accounts to bitcoin merchants, and you can begin credit card processing in as little as three days. To apply for a merchant account, simply click the button below. If you have any questions regarding the bitcoin industry, or bitcoin merchant accounts, you can call 1-800-318-2713 to speak with a live representative today.