Crypto1

The Beginning and the End of Bitcoin Britain's Treasury select committee has expressed the need for new cryptocurrency regulations, noting the increase in trading volumes. UK's lawmakers have also launched an investigation to determine if cryptocurrencies can be benefcial to consumers, and the types of risks associated with them.

Although risks are inherent in every type of trading commodity like shares, bonds or foreign exchange, the rapid rise in the demand for the digital dollar has undoubtedly spooked regulatory authorities the world over. Mady Granger, a British Conservative party politician and head of the Treasury Committee, stated, “People are becoming increasingly aware of cryptocurrencies.” However, she pointed out that these same people might not realise that digital currencies are not properly regulated, at the moment.

As part of their probe, regulators and researchers will try to determine if digital currencies will be able to eventually replace fat currencies as a medium of exchange. But the road to cryptocurrencies like Bitcoin being traded legally in stock markets fully backed by governments will not be a smooth journey ahead. After all, the idea of how cryptocurrencies work is still relatively new to the uninitiated, having sprung out into existence with disbelief at frst in a span of a few short years. The idea of making money by performing transactions or data-mining out of intangible trading goods presented in front of a monitor hasn't exactly settled the skittish nerves of monetary authorities worldwide.

The thought or idea of “Are we standing at the precipice of another dot-com bloom and boom bubble is truly unthinkable.” The US, the world's largest economy is already stretched too thin, like too little butter over toast. Broiled in two wars, Iraq and Afghanistan, then come ISIS knocking at the front door and then over to the other side of the world on the Korean Peninsula lies another ravenous despot, Kim Jong-Un threatening nuclear holocaust. Bruised and battered over the latest round of sanctions against the defant North in December 2017, the impoverish nation has to fnd new and innovative ways to raise money to sustain its nuclear ambitions. Why not turn to cryptocurrencies?

It being in digital or virtual format means not having a physical space to stuf those banana notes. Cryptocurrency which uses cryptography for security presents an emerging threat with potential to aid and assist the very people who should not be getting their hands on another stream of revenue. Bitcoin along with all other cryptocurrencies is a real threat to international security and fnance when one uses it with nefarious intentions. Cryptocurrencies are a controversial phenomenon that started out from being absolutely rubbish and growing into more than 500 cryptocurrencies with a combined market value of over $5 billion.

Cryptocurrencies are just like the adoption phase of any new technology that was ever invented. Exponential rise and fervent pursuit. As cryptocurrencies continue their monumental rise, it is far too early to say, “whatever that goes up, must come down”.