Peering into the future: why we now accept Bitcoin

For many, the word ‘cryptocurrency’ conjures up ideas of a shadowy virtual underworld associated with hacking and black markets. Yet, as increasing awareness of digital assets such as Bitcoin, Ethereum and Litecoin nudges peer-to-peer payment systems closer to the mainstream, the potential within this new frontier is cause for excitement.

The undoubted leader of this pack is Bitcoin. Released as open source software by a programmer or group of programmers going by the pseudonym of Satoshi Nakamoto in 2009, in 8-years it has evolved from a curiosity for tech enthusiasts and conduit for illegal activity into the ‘next big thing’. To understand why this is, context is everything.

Taking back control

Unveiled against the backdrop of the economic crash in 2008 – and subsequent fears over the security offered by banks and national currencies –  Bitcoin’s appeal lies in the protection afforded by its status as a global and decentralised digital currency.

Users are free from the constraints and regulations of a financial institution – which in turn is tethered to the increasingly unpredictable global financial system – and can thus transfer assets to anybody around the world (provided they own a digital wallet) with complete autonomy. In an age tainted by fears of another economic crisis, this peer-to-peer system is becoming increasingly popular.

Guerillascope is a strong advocate, with every member of the team having experienced the ease of completing a Bitcoin transfer. We now want to promote its uptake in a business capacity, both as a means of facilitating faster and more convenient transactions, and as a safe hedge against Brexit insecurity and a flattened economy.

Entering the mainstream

With the likes of Expedia, PayPal, WordPress, Microsoft and OKCupid – plus a further 100,000 companies across the world – all now accepting Bitcoin, we believe it is the future. Within our own context as a TV planning agency, it means advertisers do not have to wait four days for a wire transfer to clear before we can book their TV advertising spots. It means greater flexibility for both our team and clients when it comes to launching a campaign, and protection from exchange rates.

For business owners and entrepreneurs, investing in Bitcoin is becoming an increasingly wise move. Whilst it’s still a relatively embryonic market, the meteoric surge in value of one Bitcoin seen over the past 8 years has seen it described as the 21st century gold rush.

The agreed limit of Bitcoins that will ever be created is 21 million, which is expected to be reached before 2140. With one Bitcoin now worth around £2,000 (up from 0.07 pence in 2009), normal market forces of supply and demand will only continue to drive up the value of this finite digital asset.

Guerillascope’s ethos of always having one eye firmly fixed on the future means we are readily embracing the acceptance of digital currencies such as Bitcoin and Ethereum. If you would like to find out more, why not give us a call on 0207 352 0555, or email us on team@guerillascope.co.uk.

To learn more about Bitcoin and other cryptocurrencies, click here.