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Traditional banking and financial institutions have slowly adopted new technologies like blockchain and bitcoin from a supply chain perspective. Moreover, platforms like Öl profit have unique features like a user-friendly interface, suitability for all traders, and unique tools for bitcoin traders. Therefore, new payment systems are emerging and taking the lead in this space of hyper-globalization.
The rise of bitcoin and blockchain technology may show a future prediction that is not very bright for some banks. In its earliest form, bitcoin was designed to be a medium of exchange. Still, people took time to understand the actual motive of bitcoin and merely used it for speculation purposes for a long time. Still, it has gained widespread popularity because of its growing acceptance by merchants and retailers.
Major online retailers are acknowledging bitcoin as a payment method of choice across their stores. For example, Overstock.com partnered with Coin base in 2015 to accept bitcoin payments; Microsoft accepts bitcoin payments via the Microsoft Store; Newegg accepts bitcoin purchases; Dell and Expedia accept bitcoin payments, and more businesses are getting on board every week.
Similarly, blockchain is being adopted as a critical element in improving the creditworthiness of a given business. Lenders are exploring the potential of blockchain and its ability to provide more transparency and less fraud. It means blockchain can improve upon traditional bank-based lending systems, which are often subjected to fraud. In addition, banks working with physical goods distributors have echoed this sentiment, highlighting that technological innovation can help reduce or limit risk regarding non-payments through late shipments and shrinkage.
Paperless finance powered by blockchain is the future:
Blockchain has turned from being an idea on paper into an actual implementation. Governments, industry leaders, and banks are now actively exploring blockchain-based systems that can make the global economy more efficient, safe, and secure.
They are working on differentiating what the technology can do for the financial systems and the government. For example, blockchain can help to fight against crime by making a paper trail of digital transactions that are visible to all parties involved in a transaction. It can stop corruption and tax evasion by making everything transparent. It also makes it possible to detect suspect transactions promptly.
In addition, from the beginning, a blockchain records all transactions that take place to establish a clear audit trail. As a result, lenders, insurers and other industries have found that blockchain has provided them with tools to streamline and improve their existing business models.
As the world gradually embraces this technology, banks are also working on innovating more and more on how they will use it in their day-to-day operations. They are constantly looking for ways to understand the process of applying blockchain in their processes to derive value from it. On the other hand, there is still uncertainty among some financial institutions on whether they should embrace blockchain or remain sceptical because of its high volatility.
Government authorities will use blockchain in the future:
The government understands blockchain as the technology which can bring their digital services to an unprecedented level of efficiency. Following a statement by the UK Treasury that organizations will use blockchain in the government’s Single Digital Identity (SDID) project, several government agencies are also working on how people can use blockchain.
Technology helps make digital identity and data more reliable, secure and accessible. It ensures there will be no room for any fraud regarding identification documents. In addition, many countries governments have announced plans to use blockchain in applying property deeds of land titles from 1st January 2023 onwards.
Bitcoin might reach $100K in the future:
Shortly, bitcoin will reach $100K, which will touch $1 million in the distant future. Bitcoin is accepted as a digital currency and can result in enormous gains or losses depending on its price swings during trading. As people are now more familiar with bitcoin, there is a possibility that people will invest in it for future profits.
As long as harsh regulation on digital currencies like bitcoin, the market will strive to keep its value high, as high volatility always leads to a fall in value. However, many savvy investors eagerly await governments to regulate digital currency markets to ensure value stability for all stakeholders.
Bitcoin will be the most valuable virtual asset:
Bitcoin is also the most valuable virtual asset, which will appreciate in the future. It is currently trading at a price range of $20000-$30000, but it may touch $1 million per piece in the future. Analysts have predicted that bitcoin will reach a new milestone within 2-3 years.
Bitcoin may be available for fractional ownership:
Another significant development that would spur the cryptocurrency market would be if there were fractional ownership of bitcoin. With fractional ownership of bitcoin, people might not be able to use it as a viable currency but could invest it in stocks and bonds like any other form of saving instruments like gold or silver and earn profits from them.
Whatever position anyone takes with Bitcoin, there is always the same problem.
Regimes that disallow alternative currencies use in their areas of jurisdiction will punish those who use Bitcoin and will also criminalise the Money Exchanges.
In extremis, Bitcoin users could be executed.
Especially as there is no secrecy. Your transaction is there out in the open, for everyone to see. If anyone can associate it with you, by any means, then you may be screwed.
No. The transaction is visible, but not the transactor.
You can use coin join feature to mix bitcoiins .. so your utxo comes out different.
Stay away from crypto “currencies”. I have seen articles by analysts (ie, those guys in big banks who try to figure out what is going to happen), who think that these crypto “currencies” are providing governments with a steel chain around your neck. They also use quite a lot of electricity, and at least Bitcoin is very slow, so you can’t pay with that if the going gets rough.
Learn more about BTC before you post…
I bet you didn’t even know what layer 2 was until you read my post ;)
Bitcoin has taken a nose-dive in 2021/22 and there is no reason why it should bump back again. The reason is political not technological.
Cryptos need exchange platforms to expand freely. These exchanges have been TOLERATED for now–those that agree to some legal cooperation.
Once the state mafias have a working alternative, such as CBDCs, governments will gradually rein in the exchange platforms until they are unable to operate without thorough background checks, thereby destroying most of the attractive power of Bitcoin and of similar cryptos.
It won’t be difficult to justify a crack down. Bitcoin has been used for money laundering since day 1.
You may think a technological trick can avoid such fate. Escrows, smart contracts, instant transactions, yada yada. But that’s not what matters. Can businesses escape VAT without fear? so why would they escape the new regulations when they come?
Bitcoin is dying long and steady, no way back.
Hopefully people will wake up and stop valueing false currency. Gold, silver, diamonds should back up a currency not empty words are electricity waste.
Gold, silver and diamonds can be seized. Soo no.
Hopefully people will wake up and stop taking into consideration such false currency. Gold, silver, diamonds should back up a currency not empty words are electricity waste.
Dump your “barbarous relics” of gold and silver, mortgage your house, put your daughters on the street and become a virtual zillionaire; everyone’s a winner, why not YOU! The much loved Millennial App and those that bought into it and who will never get out (on time) are simply being shagged, tagged and dipped by the banksters of the Rothschild owned IMF and BIS for future total control, yet most Millennial App-sters haven’t got a clue what that means. Bitcoin is more than a bubble, it is a Psy Op to herd the gullible sheeple to their electronic meadow for the final fleecing and the end of freedom as we know it. “Greed is god”, to paraphrase Gordon Lizzard in the Wall St sewer and Potemkin Village (idiot) USSAN “economy” of war and fraud by the Zero 1% and nobody knows that better than a Rothschild wolf shepherding his flock of fools to their electronic doom for their inevitable slaughter.
First da Blip and then da Chip!
Is Ahson Indian Dalit boy in brown stained smelly dhoti involved in Bitcoin FRAUDS
Rumors circulating says after getting banned from driving taxis wearing his brown stained smelly dhoti without underwear he has gone scamming business