Well, the inevitable is approaching the crypto community, what are you going to do?
Regulating cryptocurrency has been the talk of internet. Many wonder when will regulations actually take place and how will they impact the secretive world of cryptocurrency. Some “alt coins” (i.e. Ripple) have formed legal partnerships with many banks and corporate entities.
When “alt coins” form partnerships of this nature, conflicts of interest rise amougst coin holders. Some in the crypto world view these mergers as opportunities to accelerate the coins value and they jump on the opportunity to retain more coins with hopes of yielding a high return at some point in the future.
Others, look at these deals as cracks in the system that allow corporations, governments and banks the opportunity to gain a “foot hold” on deregulated currency market. So far, some countries have taken drastic measures by completing banning bitcoin.
Nepal, China, Morocco, Bolivia and more have outlawed all cryptocurrency. However, those of us who reside in more “liberal” countries are fortunate in aspect we are legally allowed to access cryptocurrency wallets and exchanges. Well, at least for now!
In regards to the financial stability of cryptocurrency, I would pay attention to “influential” people who are buying into cryptocurrency and investing in the cryptocommunity. I also recommend doing research on the difference between centralization and decentralizations. Ripple may eventually become the first “centralized” coins. Ripple has already partnered with other entities, I would not be surprised if the founders of the Ripple formed a regulating body. However, this is just speculation.
The Winklevoss twins recently became billionaires this year because of an $11 million dollar bitcoin acquisition they completed in 2013. So far, Mariah Carey, G-Eazy and MotorHead accept Monero for musical merchandise. The latter are only a few examples of powerful people that back cryptocurrency and actually believe in it.
In my opinion, cryptocurrency is extremely volatile but it’s backed by financial “whales.” Celebrities love their privacy, so I completely understand why so many are gravitating towards the shadowy world of crypto. I believe celebrities with influence and power will definitely be in favor of keeping cryptocurrency p2p and deregulated. If more people embrace it, I truly believe cryptocurrency will become more powerful. Those who are coin holders will become more financially powerful. Ultimately, you have to choose; to be apart of crypto or to not be apart of crypto.
**Disclaimer: I am not a financial adviser. Nor, do i provide financial advice. I offer my personal opinion on the subject matter. I am not a paid sponsor of any cryptocurrency entity.
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