In many of the countries Bitcoin trading is being banned or being declared illegal. There seems to be news floating around that Bitcoin and cryptocurrency per se will not be held legal in some country. This is not a good sign for us, but we must remember that this is because of the deficiency in crypto outreach. And that when developed countries and countries where cryptocurrency is a trend, hold bitcoins valid over a period of time, there is a chance that the rest of the countries will imbibe it officially after looking at its success.
What matters now is that we need to bring right system in place that will help us project cryptocurrency as a genuine alternative to fiat currencies and that it is more transparent, easy to transact and unites people beyond boundaries for exchange. It is most important to see the potential of cryptocurrency to unite all countries.
There appears more of a fear that has crept into society with the use of bitcoin from various standpoints. It is important that we need to build ways where cryptocurrency is not just an asset to be held for making long term gains but also a currency to be used in daily life. As on today there are problems with transaction fees and the slow transaction frequency but I am sure we are stepping into a phase where we outgrow these limitations.
Needless to say, we need to appreciate people who always make it a point to transact using bitcoins as and when possible and feasible.
I am not saying that we need to sacrifice to help our bitcoin ecosystem but we need to actively participate and push towards its acceptance by world citizens in the long run.
Fear needs to be removed and we need to think of areas of education and high school where blockchanin technology and cryptocurrency should be introduced. Parents need to teach children of this alternative and more transparent currency. Further, we need to have good vigilance and security to win confidence on the use of crypto coins. And most importantly we must try transactions with cryptocurrency, with altcoins atleast if not Bitcoins, as and when possible.
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