The world leader in payment termnials Ingenico announced today that its next generation POS terminals, the TELIUM TETRA, will accept Bitcoin thanks to a partnership with French Bitcoin startup Paymium, which operates one of Europe’s largest Bitcoin exchanges. The move will make Bitcoin acceptable by any brick & mortar merchant, which isn’t as crazy as it sounds. Here’s why:
Sure, Bitcoin had a harsh 2014, and 2015 hasn’t started out too well either, with prices dropping after major exchange Bitstamp was hacked earlier this month; however, die-hard Bitcoin/blockchain advocates will tell you these are all necessary steps towards the stabilization and ultimate growth of Bitcoin. And given what has happened with the Swiss Franc and the ‘easing’ that is expected to be announced this week for the Euro, Bitcoin may be no more unstable than government and gold-backed currencies.
In addition, on its road to mass market adoption, Coinbase announced an unprecedented $75 Million fundraising that should put a foot in the mouths of quite a few Bitcoin critics who argue that the fad has come and gone.
One the largest Bitcoin advocates (and Coinbase inviestor), Marc Andreessen, noted that, while Bitcoin is only a couple years old, the Internet was no further along in its first years. Advocates often look to the future potentials, arguing that bitcoin will have as big an impact on the financial economy as the Internet has had on data exchange (and, thus, the media economy).