Bitcoin is a cryptocurrency or first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary and those transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. (via Wikepedia)
Nowadays, cryptocurrencies are hot topic everywhere.
Everywhere it is being discussed and is the must intresting topic. People will listen to you if you are talking about bitcoins or anyother cryptocurrencies.
The price of a bitcoin is going high everyday and is expecting to hit $20,000 sooner.
What I want to tell is, if these cryptocurrencies are used worldwide and runs on its own then the money 💰 of the governemnt won't be of as much value as it is now. People will be independent and all the transactions will be anonymous. Then Government won't have control over it's citizens property. If you have money in your crypto wallet then no one knows about your cash property. This will be a big threat to the governemnts as they don't have power over money as cryptocurrencies are decentralised. Then Government seems to pity and of no use. People will be out of control.
Thus now, powerful countries are encouraging peoples to invest in bitcoins or any other cryptocurrencies making it legal though it is decentralised with the help of different investing company.It will go up and up for some more time and many more peoples will be attracted and invest in it.
Then, the governemnts will force different investing company to quit investing in cryptocurrencies. And then the price of cryptocurrencies will fall significant ly. At last then the paper money will gain value and government will have all the money which peoples had invested in cryptocurrencies and everything will fall to normal.
This is just a hypothetical analysis.
Think your way.
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but what if they invest in making their own cryptocurrency?
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That would be great. But till now cryptocurrencies are illegal in many countries. As for cryptos , it is decentralised and same problem exists.
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I love your view on things. I cloud mine but my foundation is Forex so Bitcoins can go away tomorrow and I'll be fine God willing. My view is it's tougher for government to regulate laws they can't enforce and you will see an upside down recession when the markets and banks crash and government is not able to receive there blessed income tax because you don't really know what people are making. The rich will become poor and the poor will become rich, sorta lol
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Forex is good. I just kept my view and is just hypothetical.
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Interesting! Warren Buffet also said - Cryptocurrency will come to zero value.
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Hope that day won't come
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