Being the world’s leader in the Crypto Currency market presently, the Bitcoin has made some severe features as well as severe fluctuations over the past six months. Nearly everyone has heard of Bitcoin, and everyone has an opinion.
Other individuals love the notion of currency which the government has no control over but still can be traded on its own as a valuable unit. However, some people cannot comprehend the notion of creating a currency with any value from nothing.
There has been a rapid increase in the Bitcoin community with interest in Cryptocurrency spreading radically online, consequently leading to an increasing acceptance of Bitcoin payments. WordPress, a blogging giant also accepts payments by Bitcoin.
If trust in the currency remains strong, the speedy growth in awareness and acceptance of the Bitcoin will go on, subsequently leading to the second dependency that is Government regulation. Despite the Bitcoin’s design meant to work independently from control by the Government explicitly, Bitcoin will undoubtedly be affected in one way or another by the Government this being the case for two reasons.First, to accomplish a high level of adoption, the Bitcoin must be accessible to a vast number of individuals, thus meaning spreading beyond the realms of hidden transactions to ordinary routine transactions for businesses and individuals.
Additionally, the second reason is all Bitcoin transactions can now be a trackable part of a person’s taxable wealth which is declared and regulated along with other types of wealth.