Bitcoin remains the top trending topic in the global financial industry. This cryptocurrency managed to break barriers that none of us thought are possible. When it was created, it was mainly used on the black market and nobody believed that it will see the light of the day, let alone reach these heights.
These days, Bitcoin’s network counts more than 5 million users. The reason why are they so keen on investing and using it is that Bitcoin holds tons of advantages over both regular payment methods and other cryptocurrencies.
Let’s start with regular payment methods first. Bitcoin provides its users with a certain level of online anonymity, which makes it a far safer method for e-payments. Additionally, its users process every transaction and are far more efficient than banks. Online transactions with Bitcoin are instant, whereas banks take up to 5 business days to process them. The fact that banks are excluded from every transaction allows users to save money by not paying any unnecessary/added fees.
As for other cryptocurrencies, Bitcoin is far more stable than them as the number of users is greater and the institutional interest is massive. Bitcoin’s security is superior to the one of other cryptocurrencies, it has greater liquidity and higher value.
But, even though Bitcoin is well-accepted by the public, authorities still deem it as an outlaw. That is the topic that we wanted to discuss in this article. We’ll be taking a look at Bitcoin’s current state and then, explain whether it will be regulated in the future.
Bitcoin’s Current State
At the moment, Bitcoin is valued at around $40,000. That makes it by far the most valuable cryptocurrency on the market and millions of traders are registering at trading sites such as the Yuan Pay Group.
These trading sites provide traders with advanced AI systems that are able to analyze the market and predict the future fluctuations of this cryptocurrency. Now, even though they do not guarantee you profit, they increase the chances of making one. To gain access to these services, you just need to register. That process is very simple and extremely fast.
Earlier in this article, we mentioned that one of the biggest advantages that Bitcoin has over other cryptocurrencies is the fact that the institutional interest in it is much higher. Many companies accept bitcoin as a payment method these days. The list includes the likes of Starbucks, Wikipedia, AT&T, Expedia, Overstock, Whole Foods, Shopify, and many more.
Now, let’s take a look at what the future holds for Bitcoin.
Why Bitcoin Will Never Be Regulated?
The fact of the matter is that Bitcoin will likely never be regulated. Here’s why. The foundation of Bitcoin is self-sustainability and high decentralization. Thanks to these features, Bitcoin is a user-orientated currency that is designed to benefit the people rather than the institutions.
The blockchain technology is what enables it to remain out of the hands of banks and governments. That is why it has all of the advantages over regular payment methods. But, the big problem here is even though Bitcoin is a futuristic payment method, authorities will never be able to control it.
Governments will not be able to impose taxes on profits, while banks will not be able to impose fees on transactions. Either way, they don’t have anything to gain and a lot to lose because they cannot control it. That is the reason why they will always lobby and put a lot of time and effort into making sure that Bitcoin remains an outlaw.
But, there are optimists who believe that thanks to Bitcoin’s acceptance rate, a majority of the world’s population will use this cryptocurrency in the future and governments will be forced to legalize it.