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I do agree with you... Bitcoin has been one of the best findings of the 21th century... Its advantages and the blockchain features are amazing and an important tool for the people.. This will sadly for governments, shift the power to the people, that's why they are seriously kicking against it.
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Change is a constant thing in life. Just like bitcoin wasn't legal in other countries, not just in South East Asia, but other places... Eventually, depending on the progress of the bitcoin and blockchain, I know they will eventually embrace the bitcoin in South East Asia, and also make it legal in South East Asia.
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You are right, people are usually in a haste to write off and said bad things about the bitcoin, but just like you have stated, bitcoin isn't something you can just judge by a day or month drops, even a year isn't enough to judge the bitcoin.
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No, not entirely... A lot of these rating sites are paid for. If a project pays some amount of money, they are given very high ratings, but these projects goes on to fail woefully.
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I completely agree with you... The gigantic steps the blockchain and bitcoin has taken in recent times has made it easier for some countries to freely trade globally... Unlike the traditional systems where the banks or PayPal comes with plenty restrictions and unfair policies.. Indeed, blockchain is here to stay.
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Yes, the blockchain technology is one that will change the world for good. A better world where there will be no barriers to transact globally, with a more transparent, cheap, fast, and secure system.
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The springing up of numerous altcoins can maybe saturate the market, but they can't become a threat to bitcoin cos bitcoin remains the king of all coins... All other coins without a strong dev will eventually fade away.
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Education is a key part of a lot things. If crypto like every other walk of life can be studied in the universities around the world, building and creating a sound knowledge of the pros and cons of the technology, then we will witness a greater adoption and a possible mainstream roll..
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I think you have said it all... People initially gets to think that it's a get rich quick scheme. But it takes plenty patience, hard work, smartness and dedication to actually be a success.
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No, not every ico is scam.. But the scam rate has really gone very high in recent time.. You could even say that up to 70% are outright scam or shit coins.. But they are still some really good and authentic projects out there.
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The bitcoin affects other crypto currencies because bitcoin is the like the central currency of the entire cryptocurrency system... It has more popularity and acceptability. Therefore, values of all other cryptocurrencies are measured against the value of the bitcoin.
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A lot of times, the ico ratings are not very reliable.. They get high reviews and ratings when they pay them more to do reviews... Icos that were rated highly by ico sites have gone on to be scams or shit projects. Its in your best interest to invest in icos based on your own sound researches and guts.
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I do not think banks will always be against bitcoin and cryptocurrency in general, eventually, banks will have to embrace the cryptocurrency technology. This is because its in their best interests too. They can't fight a losing battle.
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