Thursday, 19 April 2018

Bitcoin - Envisaging it as innovation rather than a taboo

Just read the news that most US states have spent time understanding the cryptocurrency wave and have a stance; one way or the other.
https://news.bitcoin.com/majority-of-us-states-with-stance-on-bitcoin-and-blockchain/?utm_source=Majority%20of%20US%20States&utm_medium=telegram&utm_campaign=Telegram%20Channel
My point here is not to discuss what stance but a sense of relaxed resignation that there is at least a stance and clarity.
Bitcoin came as a serious challenge to world economic order. It made people think differently on their earning habits and it made Governments to think what now? The magic word "decentralised" an offshoot of Blockchain send ripples (No, not the currency) across the stilly waters of economic detente.
There were and are multiple questions. We are at a crossroads where pros and cons that are being discussed can both claim victory or at least a headway. Meanwhile, the satoshi train chugs along. Ether zooms along and all rest follow.
So is it good or bad?
In my honest and humble opinion, NEITHER.
Currency needs to be regulated is the bottomline by which this entire revolution has been argued. Should it be considered as a currency?
Should it be considered a security?
Should we ban it?
Should we have a framework?
The fact of the matter is that it hit where it hurts bad. The mere thought of alternate economy can be devastating let alone the currency that can challenge several economies in unison.
But let us see - This blog is not to take sides but to know what do you all think?
Decentralised power of currency or abiding tax paying citizen? Opt for now as in future, I don't think there will be much choice.

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