• Latest
  • All
  • News
  • Business

Bitcoin – At the Crossroads of the Future

Sep 2, 2018
What Is a PDF Virus?

What Is a PDF Virus?

May 17, 2022
The Ultimate Guide to TV Antenna Installation

The Ultimate Guide to TV Antenna Installation

May 17, 2022
How to create multiple email filters in ProtonMail free plan

How to create multiple email filters in ProtonMail free plan

May 14, 2022
6 Benefits of Outsourcing Your Business’s Design and Development Projects

6 Benefits of Outsourcing Your Business’s Design and Development Projects

May 13, 2022
How IoT, Autonomous Cars and Smart Cities Will Develop

How IoT, Autonomous Cars and Smart Cities Will Develop

May 10, 2022
Apple Virus Guide: How to Get Rid of a Virus on Your iPhone

How to transfer photos from iPhone to Computer

May 10, 2022
How Does Data Analytics Improve Security Systems?

How Does Data Analytics Improve Security Systems?

May 4, 2022
Discovery Phase For Software Development: How Much Does It Cost?

Discovery Phase For Software Development: How Much Does It Cost?

May 4, 2022
Smart Contract Programming Languages in Blockchain

Smart Contract Programming Languages in Blockchain

May 4, 2022
How Does an Elasticsearch Application Work?

How Does an Elasticsearch Application Work?

May 3, 2022
How To Take Care of Files on Your Computer

The Many Benefits That External IT Support Provides For All Businesses.

May 2, 2022
In Order To Avoid Business Downtime – You Require IT Consulting

In Order To Avoid Business Downtime – You Require IT Consulting

May 2, 2022
  • Guest Posts
  • Advertise
  • Contact Us
  • Privacy Policy
Wednesday, May 18, 2022
Tech Featured
  • Home
  • Latest Tech
  • Apple
  • How to’s
  • Apps
  • Automobiles
  • Gadgets
  • Gaming
  • Reviews
  • Tech Tips
No Result
View All Result
Tech Featured
No Result
View All Result
Home News

Bitcoin – At the Crossroads of the Future

by techfeatured
Sep 2, 2018
in News
0
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

The Predictions

As people all over the world increase their awareness about the crypto-currency revolution, investment experts are lining up to express their opinions. In recent weeks, the pro-crypto forecasters are predicting numbers that defy gravity. It's not uncommon to see a prognosticator on TV explaining why they believe Bitcoin is destined to hit anywhere between $ 250,000 and $ 500,000 per coin within the next two years. At $ 500,000, the coin would have to increase more that 6000% of it's current levels. The numbers are mind-boggling.

On the other side of the fence, we find the naysayers. There are plenty of well-respected financial analyst who are not afraid to warn people about the investment bubble. Some even admit that crypto-journals may still have some play left in them, but sooner or later, the bubble is going to burst, and people are going to get hurt. To drive home their point, they only need to reflect on the IPO bubble of 2001.

The Technical Hurdles

The crypto-currency revolution is still in its infancy. As such, most coins, Bitcoin included, are trading without historical indicators to help investors. It is a free market in the purest form. Unfortunately, free market trading is susceptible to influence from all directions. Therein lies the rub for crypto-currency investors. With no history to fall back on, investors have to make decisions based on their gut.

The obstacles that complicate the decision-making process for Bitcoin investors are plenty. The coin is always susceptible to the technical aspects of trading. The exponential increase in price is being driven by high demand and scarce product. Still, investors get a little antsy when the price increases too much, too fast. Then we see the typical correction that comes when an investment becomes over bought. The problem is these corrections are proving to be harsh, which tests the mettle of investors who are not used to such high levels of volatility.

Setting technical analysis side, technology issues are also driving the market today. There's no denying that the crypto-currency market has had its issues. After claiming block-chain technology to be the surest approach to disseminating information, there are holes that are being exposed almost daily. The bugs will get worked out as this kind of technology seems destined for prime time. Unfortunately, Bitcoin has block-chain technology under a microscope right now.

No matter how secure any system may claim to be, hackers are sure to expose the weaknesses in a hurry. The crypto-currency industry has already been besieged by hackers, who have stolen billions of dollars in Bitcoin and other crypto-coins. Losing money to hackers tend to make investors a little jittery. It also makes for plenty of litigation from those harmed by technology that may not yet be a secure as promised.

The Fundamental Hurdles

There's an old adage: When school teachers and janitors start making millions from investing, prices are going to crash because we need school teachers and janitors. The truth is governments get nervous when its tenants start losing money or making lots of money without paying taxes. It's no coincidence that India and South Korea are among the most active countries on the crypto-currency exchanges, yet both governments are considering banning the trading of all cryptos. The US, potentially the world's largest bitcoin player, is working in Congress to decide how to regulate the crypto-currency market. They have already warned several changes for possible fraudulent activity. China is discussing an outright ban while Europe appears poised to follow America's lead.

If Bitcoin or any other crypto-currency aspirations to becoming an international currency for everyday payments, success would be predicated on the world's largest economies joining in the parcel. Unfortunately, the major players (mentioned above) seem to be moving in the other direction.

The largest concern seems to be Bitcoin's appeal to the criminal element. Proof has been presented that shows North Korea has been stealing Bitcoin to help finance its nuclear program. ISIS routinely moves money among its associates via Bitcoin, doing so undetected until it's too late. The drug trade is also enjoying the anonymity afforded them by block-chain technology. More and more Initial Coin Offerings (ICOs) are proving to be nothing more than common scams. These are all serious issues.
These are all fundamental issues that must be favorably resolved if crypto-contexts are to survive and someday thrive.

Looking or Solutions

For the most part, people are interested in all aspects of crypto-currency. Bitcoin has already shown the potential for easily resolving payment issues between customers and vendors. However, trust is a big issue going forward. If the anonymity feature is the driving force behind the crypto-currency revolution, it's going to be hard to get governments to climb aboard and approve crypto-trading.

Let's look at how South Korea decided to resolve the Bitcoin issue. The South Korean government recently passed a bill that gives six Korean banks authority to let its customer trade Bitcoin from their bank accounts. There's only one stipulation: the account has to be opened in the customer's real name. Poof! There goes the anonymity feature. However, South Koreans can still trade Bitcoin through a Bitcoin Wallet so long as tax evasion is not the reason they want to do so. It's a nice compromise, but its appeal may be limited.

Over the next few months, investors should start getting answers to a lot of questions. Until that time, the pricing of Bitcoin and other crypto-treaties will remain volatile. The price will increase because of demand but will drop every time a new issue becomes news. Until prices stabilize, people should focus on one rule of investing. Never invest more money that you can afford to lose. Indeed, Bitcoin is reaching its crossroads.

Tags: BitcoinCrossroadsFuture
ShareTweet

For any queries, you can reach us at [email protected]

Latest Posts

  • What Is a PDF Virus?
  • The Ultimate Guide to TV Antenna Installation
  • How to create multiple email filters in ProtonMail free plan
  • 6 Benefits of Outsourcing Your Business’s Design and Development Projects
  • How IoT, Autonomous Cars and Smart Cities Will Develop
Tech Featured

© 2022. All Rights Reserved.

Navigate Site

  • Guest Posts
  • Advertise
  • Contact Us
  • Privacy Policy

Follow Us

No Result
View All Result
  • Home
  • Latest Tech
  • Apple
  • How to’s
  • Apps
  • Automobiles
  • Gadgets
  • Gaming
  • Reviews
  • Tech Tips

© 2022. All Rights Reserved.