Skip to main content

It's not wise to ban Cryptos

 The sensation phenomenon of internet made the breakthrough when it decentralized the system of communication globally. The restrictions and number of processes made lot of people to be resistant in communication. Especially written communication. The restrictions that were put forward was an actual mean of censoring. End to end encryption is completely unethical and least practical method. People are so keen about the words that are allowed to put. It made the free conversation worse. Recipient receives the letter after going through multiple hands. But what internet did was amazing. It made the third person powerless and made the free speech more fertile. It changed everything. Communication became more easier and encrypted. Now encryption is taking around everything, making it more secure and easy. The most widely popular and changing field of which encryption is in highly demand is the currency field.

As like the process of post transfer in letters, there are multiple threats that’s been wandering around. This is lot more frustrating. This led a lot of bright mind to find a solution. With the help of digitalized tools, they cloned the version of paper currency. Yet the mainstream concern has not solved. Still it takes frustrating effort to make currency transfer. From one currency to another has to be done with government registered organizations. The only easy is there is no longer to carry papers. Yet request has to made and enquiry is inevitable. This is not smooth transfer. This kind of transferring even refrain some people to go other illegal way of transfer. It is a threat to the economy and to the government. They might loose multi-billion dollar in tax if people were to go illegal. Even if they go illegal without depending on government it is a threat. This is what most of countries ere afraid of cryptos.

  Cryptocurrency already made its take on the field of transferring and how business has to be done. Lot of organization and people accepted this new mean of transferring because of the easiness and universality it provides. This is a concern for not only government, but to a lot of people working in public sectors. Especially the people working is financial sector such as banks. Cryptos are great threat to banks. If people came to know about the beneficiaries of these crypto currencies, they would probably migrate. This provides a great offer which is similar to what email did to communication, encryption and decentralization.

  Tax is no more concern since there is no third party access. Transfer is super easy and trusted. Because of its threat in creating unemployment, some countries are force to ban Bitcoin, which is most popular and one of the first crypto. The only reason they are stumbling upon making this decision tangible is the fear of being left behind. There are muddling around employment and growth. Now the world is like now or never. Apart from the fact of making inflation a less concern, this is making much more than a currency. The concern of the governments isn’t about loosing control over people in transaction, they are afraid of the scenario change in illegal transaction. Buying gun and drugs is no good for anyone. Yet the popularity is soaring behind. It is believed that one eighth of the population might migrate to Bitcoins by the end of this decade. That is one billion and it’s huge. The growth is clearly evident and exponential.

Because most tech giants believe that this could alter the way we used to think of money. It is worth giving attention to. No one likes to get left behind. Like currencies there are multiple options available for Cryptos, which gives people an access to options. The effect of power is now clearly visible in the altering rate of cryptos. A powerful person with mass following can manipulate the way it is getting traded. Elon Musk is no different. Since these billionaires and giants are largely optimistic about the future of new money, no country wouldn’t go first-hand ban. These people are making as much as possible effort to publicize crypto transfers, which to an extent bringing results. The currency exchange rates might get divert to Cryptocurrencies with no organization to regulate. This could be a milestone. Yet the concern should not be avoided completely.


Labels:

Comments

Post a Comment

Most viewed

Investing with index

Expecting return a way more than the index average can be of greed influence. Index do gives a handsome return that sometimes even surpasses majority of the stock performance. But it is also true that index may stands still for some years. Yet in the very long it is way better than FDs.
Post a Comment
Read more

Private blockchain

The ledger in blockchain need not necessarily backed by a currency. For a system that need large amount of nodes, like in case of public permissioned blockchain, it is essential to give an incentive either in form of reduction in transaction fee or some currencies. This is a high incentive for those who works with high computational powers. They would demand this. But in case of private blockchain there is no need of providing a currency in the form of incentives. Private blockchains are used when the peer nods comes to know each at least half of them. They form a network of peer group and validate the transactions. Since private blockchain entitles the identity of each nodes, it is impossible to get a lot of people through. So these private blockchain lacks popularity and hence there is no coin. But this is extremely helpful in large corporations to store and validate data. They can create a supply chain where everything could be traceable form the very beginning. It involves no s...
Post a Comment
Read more

Why only entertainment?

One thing that struck me when I did the calculation of my expenses is that it is bit of in a wrong direction. I could see the expenses rising up and up. But it's not the issue. Its the place where I'm spending. Literally no penny for education and majority for entertainment. The excuses while spending money on learning has been never visible while spending on entertainment. Even half of ir changes a lot.
Post a Comment
Read more

Focus on one thing

Concentrating on one field gives us a tremendous edge than giving a shallow focus on various different things. The difference here is that we get a lot of information from one sector which enables us to master the field.
Post a Comment
Read more

Diversify

Diversifying your portfolio is the best way to sustain in the market. When one goes down, other tops. But make sure that everything you invested was invested based on your knowledge.
Post a Comment
Read more

Dips in investment

Market always makes some corrections during its journey. For a short term investor, it is the stage where he books profits. And many times they misplace their trade loosing money. But for an investor with long term view, it is just a other minor dip that is to be ignored. Dip are obvious and it happens to everything in progress. It is a universal law that states anything going forward must go through dips. Or we fan see dips as a form of test. For every improvement we make, we must test it whether we are really improves or not. Dips makes us go through it. In investing it is a mental test. Patience is a prime factor for a good investment. While in a dip, when we see other prices moving high making frequent all time highs, we tend to withdraw our price and veer it to other one. In this test we failed to sustain the promise. So dip is a very good thing which makes us to learn things faster and better.
Post a Comment
Read more