If you want to see Bitcoin become a global digital currency, VC Fred Wilson says you better start using it.
Everyone focuses on the price of Bitcoin these days and it is no wonder why. But for Bitcoin to be anything more than a store of value, we need to see a transactional ecosystem develop.
When the citizens of the world will be able to buy and sell from each other and from retailers of all shapes and sizes via Bitcoin, then we will have truly realized the potential of a global digital currency.
Furthermore, transactions can help stabilize what is a very volatile currency today. There is an imbalance of supply and demand right now. If there was as much transactional activity as there is speculative activity, there would be more supply of Bitcoins in the market (as retailers who receive Bitcoins will turn them into their local currencies).
So, everyone who wants to see Bitcoin succeed should want to see transactional activity rise--the sooner the better. This holiday season is a great time to make that happen. We have been involved in a campaign called Bitcoin Black Friday to encourage buyers and sellers to transact in Bitcoin this holiday season.
If you have products to sell and you accept Bitcoin, go here and sign up.
If you want to buy your holiday gifts this year with Bitcoin, go here and sign up.
The idea is very simple: Sellers list their products and buyers get alerted when the deals go live, then big retailers sign up. I plan to do my holiday shopping with Bitcoin. I hope you all will join me.