Important factors on which the future of ‘Coins’ Depends
Machines and technology have their presence in every sphere of life. To be in the kitchen or garage the purpose of using a piece of equipment is directly or indirectly related to it. The presence of these items in the sphere has such an impact on our lives that we can’t expect our lives without using them completely. They have made a permanent place in our lives and are no longer leaving.
Machines being tangible produce results that can be felt in the real world. From the tip of our pen to the revolving satellites outside the earth, technology with the help of machines is booming and progressing continuously. On the other hand, some entities are the results of these technical processes but are intangible. One such example is in the form of digital currency aka cryptocurrencies. Cryptocurrencies being intangible have the power to affect the tangible world and the same can be witnessed from the daily market news. Cryptocurrencies are the results of algorithms and have their monetary value in the digital world. Not only this, they have the value that has crossed the boundaries and barriers of economic benefits. One such famous cryptocurrency is known by the name Bitcoin aka BTC. If you are interested in bitcoin trading, check the best benefits in dealing with bitcoins.
Bitcoin was invented in the previous decade by a group of programming enthusiasts called Satoshi Nakamoto. It is still a mystery whether it was a group of people or if it was a person responsible for its invention. They made an entry into the market with the sole purpose of removing the monopoly of cash and banknotes. They were successful when they purchased pizza in exchange for some bitcoins. Since then, the value of Bitcoin has touched a new foot every day. Though the value of bitcoin along with other cryptocurrencies is majorly volatile and changes in an instant of time. But still, people are generously investing in it and some are gaining with both hands. No one knows what is going to happen in the future to bitcoin and other cryptocurrencies. Some people believe that the supply of bitcoin is limited and the reserve will be empty in a period of around 80 to 100 years.
In this article, we will discuss some terms that will surely decide whether the coins will be kept on the shelves or they will bloom like flowers in the digital garden as they are doing now.
The nature of bitcoin and other crypto is decentralized. Thus, no central governmental authority has its right over them. No one regulates it and no one keeps a record of the same. The market bloomed over this fact only because there are illegal transactions in bitcoin that cannot be tracked and are numerous. It is believed that if regulation is enforced on the market the value will fall drastically.
Wherever the government intervenes, the official wants the firm to work according to their rules and regulations. As discussed earlier, it is believed that government intervention will be negative for the market growth and its future. People love independence and this is provided by bitcoin to them. They have no restriction of payment and its timings.
Media has its role in popularising and increasing its scope in the market. The people who didn’t know about crypto a year ago are very well aware of the same and are actively participating in the market operations. This media has its role in maintaining a product.
Thus in short it will be public outreach that will govern bitcoin’s future.