Bitcoin for payments: Why critics' view is wrong and will become more so

In the last 3 months of 2017, almost $150 bn was processed in transactions - nearly 10 times more than a year earlier and seven times higher than what Western Union moves among consumers in a quarter

Critics of Bitcoin often argue that it’s useless as a means of payment, one of the key elements of any successful currency. That’s not quite right, and likely to become less so.
 
First, a reminder on how Bitcoin works. If I want to send someone some Bitcoin, I simply broadcast my intention to the network. I then wait for the transaction to be picked up by “miners,” who process transactions in return for fees and newly minted Bitcoin. If all goes well, my transaction will be included in a block, which becomes part of the global immutable ledger known