There are several Bitcoin related news articles which can be found and encountered through search or by browsing the internet. A large number of them tell about different projects and how they are connected to the bitcoin. Some of them promote the use of bitcoin while others provide information about it. While searching, a user would find loads of recommendations without any gaps for information. Few articles and news stories would also tell about its effects on the economy, about fraud, etc.
It is exceedingly important to keep in mind that the effects of bitcoin are not fixed at this moment; it is part of a process that is operated by many people. It cannot, therefore, be treated as an economic policy graduate already. It is predicted that at first many people are going to complain about the increase in fees and prices. Then, people would start using aaul bit of electricity to buy goods and services. This can cause an increase in prices and demand for bitcoin that would make the prices go down.
These are the effects of bitcoin, which affect the market currently. It is up to regulators, consumers, businesses and the bitcoin miners to try and get involved and try to get affected by the process. They need to keep an eye on the security of the bitcoin since it can cause Cyprus type problems in the long run. Besides this, government in Cyprus could request the bitcoin exchange to freeze bitcoin withdrawals. This situation is the standard move of governments except forExtreme nationalizationists, which never want to lose control.
People who pay taxes to the government will have to deal with the problem. This means they will demand a deposit. This deposit would be insured, or frozen. This would be temping for all creditors, bankers and consumers. If they do not react, they would lose their valuable funds in the event of the legitimate use of bitcoin. This could have a domino effect. This will destroy a lot of banks and financial institutions and this could lead to a financial service collapse (system crash).
People who pay taxes to the authorities would most probably end up losing money. They pay too much, with too little. They know something people will not tell them. This is very dangerous because a lot of people are starting to think the government could change the will of the people by force. This is based on nothing. bitcoin is a voluntary system, which means more people would choose the less harmful way. The government should not be getting in the way of anything.
bitcoin is already deteriorating, and he would like to discourage people from buying it. If they lose money in going to thehealthy bitcoin mine, they would want their money back. The government and others should minimize this possibility by creating laws to control the mine and bitcoin users. This is something transparent which can be supported by facts and numbers rather than feelings and current feelings.
This action should be taken in time but the sooner they do it the better. Assuming the government allows, and even supports the regulation of bitcoin, people should step up their efforts in doing business. They should take up in future and start mining. Bitcoin is a good way to store currencies. bitcoins should be encouraged and there should be a rewards for using them. The regulation will be a bad thing for the economy, but it does not matter, because there are other better things to worry about.