From shells, to paper, to data-bits. E-money is the future.

SingleHop is full of energetic and inquisitive people. They generally like to take the road less traveled and tend to think about the world in slightly off angle terms. Most recently a few SingleHoppers began studying how to best take advantage of the bitcoin virtual currency phenomenon. They studied the different exchange rates, the difficulty in mining bitcoins, since bitcoin mining requires serious graphics computing power, and strategies to ensure that even if bitcoins proved to be a fad, they would end up ahead in the game.

Although their discussion was mostly theoretical, today's announcement of the Google Wallet from Google, really brought home the reality of virtual money. That is, currency that has value because we accept that it has value, and not necessarily because we can physically touch it. Technically Bitcoin's value must be exchanged into dollars (although one can already find hundreds of online vendors who accept bitcoins as legitimate payment) before it works in the same realm as money that could be stored on a Google Wallet, but the reality of how we perceive money is the same, and has continued to change throughout human history. We started off using natural goods like shells, to re-manufacturable ones, like paper bills, to now purely intangible and almost hypothetical items such as credit on your Google Wallet and Bitcoins.

The drive towards less tangible and more simple money mediums has been driven throughout history by the need to make counterfeiting more difficult, money transfers (transactions) simpler, and the inflation risk of money stable. Thankfully the advancement in technology has facilitated the perfection of our currency to the point that soon we wont even need degradable and easily counterfeited paper to make our purchases, or put our savings in.

Along with the majority of the technology industry, SingleHop welcomes the move towards more e-money systems. Not only do we want to ensure that our clients from all over the globe can quickly and easily pay us, we strongly believe that technology as a whole offers far more solutions than problems.

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To pay with Bitcoin or not to pay with Bitcoin. What would you guys think if SingleHop moves towards accepting Bitcoins as payment for your servers and services with us? Is this something that you would use? Let us know what you think! Join the conversation at http://bit.ly/jQfKAG

 

Photo credit Brooks Elliot