iews About Bitcoin and Blockchain
The principles and aspects of Bitcoin and other cryptocurrencies are being discussed for over a couple of years now. The views and opinions about them keep on changing as time passes. If you go and ask about Bitcoin or the concept of cryptocurrencies to a certain someone a decade ago, you will find no one who could tell you that they know the concept of cryptocurrencies or blockchain technology.
Now the majority of people know about cryptocurrencies or at least a little about Bitcoin. The concept of cryptocurrencies is slightly controversial and the unexpected turn of events never cease to stop when it comes to bitcoin and altcoins. We have been studying this intriguing concept and trying to administrate in our lives. While some people are quite cynical about this controversial concept.
The reason why we call it a controversial concept is that everything about the concept of cryptocurrency is based on major speculation. No matter how hard we try to advertise it, we can't deny the fact that it is based on speculation and there is no governing authority to redeem if something wrong occurs while we venture into this business. This is the only thing that disturbs people so much.
Creator of Bitcoin and Blockchain
We all know that Satoshi Nakamoto is the name flipped when someone asks about the founder of Bitcoin or Blockchain Technology. Nobody even knows who is this person. We don't even know if it was a person or group of tech professionals. The anonymity behind the original founder of Bitcoin and Blockchain Technology could be derived in so many different ways. The concept of Bitcoin and Blockchain is formidable by itself.
That is why the world governments are so cynical about allowing cryptocurrencies to operate at its full capacities. Most of countries have accepted the trade of cryptocurrencies but with certain limitations. When it comes to a country like India, there are tons of things to consider before allowing something formidable as Bitcoin and Altcoins like Ethereum, Ripple, Litecoin and Bitcoin Cash.
Currently, the operation of Bitcoin and other cryptocurrencies are allowed in India but it took a couple of years for the government to understand. So, now there are no restrictions on the trade of cryptocurrencies in India. The views and opinions about the people of India are mostly in the support of the user of cryptocurrencies. The fact is that majority of people put their faith in Bitcoin only.
Acceptance of Bitcoin and Blockchain in India
The prevalence of other cryptocurrencies needs to more time to establish their market in India. If you want to make investments in cryptocurrency in India, you will need to reach out to a cryptocurrency exchange and register with them to make a trade-in different cryptocurrencies. However, you should be conscious of the risks and discrepancies it entails. People started looking up towards Bitcoin in the year 2014 when demonetization occurred in India.
People were quite disappointed by the government for failing them with centralized authority. That is when some people started regretted neglecting the concept of the decentralized monetary system such as Bitcoin. That is when people started actively making investments in Bitcoin. But the majority of them did it just for as gambling exercise. There were hardly any people who invested in Bitcoin with large capital.
Unfortunately, it took so much time to realize the benefits of investing in Bitcoin for the people. Now, the price of each Bitcoin has reached around $22,000 USD. The formidable theory of Bitcoin tends to increase by every day and it gets harder every day to make firm decisions about cryptocurrency investments. The main reason is that this market is too unpredictable. You would never know what is going to happen next.
The Volatility of Cryptocurrency Market
The market changes every month, week and it sometimes in a matter of hours. It is said that the value of every cryptocurrency is revised in 6 hours every day. You can always expect a slight change in the value of cryptocurrency every time. The volatility of the cryptocurrency is the only thing that is a little daunting to the people. Experts say that crypto-market is way more volatile than the stock market.
That describes the risks involved in the crypto-market. But great risks come with great rewards. That is why implies with the cryptocurrencies as well. If you have good knowledge and experience about what you are doing, crypto-business could be much more lucrative for you. That is why we always recommend our readers and users to study the concepts of cryptocurrency and blockchain as much as you can.