Bitcoin has proven it’s toughness as a real payment method.
The BackPage effect is officially going into it’s fourth month. BackPage has launched 5 extra payment methods for different localities. We all thought bitcoin traffic would go down but instead… it is growing faster than ever. Every minute there are at least 20 transactions from the Paxful wallet to BackPage. Users are growing comfortable with bitcoin and love the connivence and speed of bitcoin. Even more amazing is how many understand that the blockchain is public and anyone can verify that transactions have gone through.
For example, BackPage launched a payment option to buy ads on Backpage.com with PaySafe cards and now we have buyers who want to use their PaySafe card on Paxful to BUY BITCOINS! Wow, no one ever saw that coming. Bitcoin is winning ordinary folks over with it’s speed and convenience.
While conventional exchanges remain stagnant peer to peer bitcoin is growing by leaps and bounds. Localbitcoins volume is growing by orders of magnitudes and so is Paxful. This trend continues to grow from a variety of sources. The BackPage Effect is certainly a big driver and would explain why our chart is even more extreme.
Cracking the Code
The right mix of ease of use, instant purchases and human support is what Bitcoin needs to keep it standing in the face of the horde of options merchant can turn to. No one really knows how Bitcoin would take off but is is becoming very clear that Satoshi did. Even Satoshi didn’t see quite the exact angle it would come from.
Stay tuned for more analysis on this amazing new breakthrough for bitcoin.