Everywhere the cryptocurrency through https://bitpapa.com/ is going crazy. Saving has become a newfound trend among the Gen Z’s and Millennials. It’s like the stockbrokers have to find a new job. People have become more inclined toward these bitcoins that one-day Finance Minister of India has to put an end to it on bitpapa. No means No… The reason behind the illegal practice is that one day we should not see another Vijay Malia take over all the money in name of Kingfisher and retrieving that money would be a far-fetched dream.
Cryptocurrency:
Cryptocurrency at a point was the new cool in town but now it comes with some terms and conditions. Many traders, exporters, and importers are now under the eye of the government what and how this money come/went from their accounts. What cryptocurrency does, it encodes a cryptic code that gives you an ace to all the electronic money that you consist virtually from one place to another with no tension of cutting some amount for a hefty amount but it is the same way people did in Swiss bank deposit all the black money into the foreign bank.
At a certain point, we want all that government would do this and that and at the same time, we don’t want to pay taxes. It’s a matter of art how to bring customers but it is all hay-wired from within. Cryptocurrency is critical or complementary or not but one thing is for sure it’s a thing in the future; at present, it’s critical to see you in the future. Till then crypto tiptoes back home.
Future of Bitcoin and Conclusion
Bitcoin has initiated a cryptographic chain reaction and has massive potential to change the course of financial history. Major financial technology companies like PayPal, MasterCard and Apple Pay are now integrating bitcoin to facilitate cryptocurrency transaction. Tesla has bought 1.5 billion dollars’ worth of bitcoin and General Motors is contemplating putting bitcoin on its balance sheet. Large financial institutions like JP Morgan and Goldman Sachs are now accepting exposure to bitcoin. The intention with bitcoin was to create a system for electronic transactions without relying on trust hence enabling neutrality in any culture, language, nationality or religion through an open universal transparent system for everyone to inspect. If and when developing markets like Brazil goes through devaluation, when Indian rupee continues to get crushed with whole lot of money trying to get in and out of these countries where there is massive political and monetary instabilities the use of bitcoin is bound to boost.
Since, these currencies are not limited to any region or any nation; rather every Sovereign has the power to take their own stand on the legality of the cryptocurrency. While, some countries are planning to take some mild steps in the form of regulating the currency or by introducing a taxation system, some countries are extremely firm on their stand of banning the digital asset. Therefore; it will be interesting to see how this concept of digital asset shapes up in the future but seeing the future; it seems that banning cryptocurrency might not be a feasible option, considering the fact that this is the time of Web3.0 revolution.
