Category: Bitcoin

The Bitcoin Juggernaut- The Beginning?

It is a well known fact that all those who are born into this world have to die and leave for another one day. The world only salutes the …

It is a well known fact that all those who are born into this world have to die and leave for another one day. The world only salutes the rising sun and ignores it when it has set and there is complete darkness.

Whenever somebody comes up with something new and innovative, the likes of which everyone has neither seen nor heard of before, he is obviously ridiculed and made fun of by the world but once he reaches the pinnacle of success, the very same people start worshipping him and swear by his name.

The crypto-currency or digital currency that began at the start of the 21st century is also a story that followed similar lines. When the prospect of going digital and online was presented, it was naturally made fun of and predicted as a complete washout idea.

But what happened was to be seen to be believed as it proved to be a thumping success with numerous people flocking towards it in a bid to take in a few drops of the ocean.

Bitcoin was the most popular branch in terms of market value which is taken as the deciding factor to determine the success based on the revenue that is generated. It did not follow the traditional centralized banking system as it did not have any financial institution to regulate it.

The evolution was indeed bumpy as it proved to be a failure regarding the security aspect, leaving it vulnerable to cyber criminals and the worst fears were finally realized as drug dealers and mafia found it to be a safe haven to flourish their business without fear of persecution by the authorities.

Their explanation is basically that when people themselves are corrupt in their conscience and put their head in the lion’s mouth, we (drug peddlers) are just showing them the way.