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And that's despite the fact that it still works so poorly as a payments system that people won't even accept bitcoin at an upcoming bitcoin conference.
We know Google has made a big bet on near field communications (NFC) as a payments system with the launch of Google Wallet, but does the technology have the potential to be the future of how money is transacted?
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First, cryptocurrencies now function as a money substitute and a payments system, even though they have yet to reach widespread acceptance relative to national currencies.
Slowly, there is increasing interest in using the Bitcoin network as a payment system for legitimate purposes.
Meanwhile for its domestic market, Nintendo is also looking at using the NFC capabilities of its consoles as a payment system for online shopping.
None determined the extent to which subscribers' socio-economic and individual characteristics influenced their willingness to accept the capitation as a payment system under the Ghana Health Insurance Scheme.
Privacy-enhancing cryptocurrencies such as AEON and Monero are guaranteed to enjoy near exclusivity as a payment system in some ecosystems where anonymity is either desired or required.
It is here that you have to realize what Bitcoin really is, which is what is known as a payment system.
"As mainstream finance invests in cryptocurrency assets and as countries take steps toward legalizing bitcoin as a payment system (as Japan did in April 2017), it is important to understand how susceptible cryptocurrency markets are to manipulation.
However, it is possible that Bitcoin may survive at some level as a payment system, albeit at a much, much lower market capitalization value than when it got close to (and some say hit) $20,000 in December, 2017.
Similarly, even if Bitcoin becomes more widely accepted as a payment system, this may inure to the convenience of using Bitcoin, but it doesn't ipso facto mean that Bitcoin's price will increase.
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CEO of Professional Science Editing for Scientists @ prosciediting.com