The crypto-currencies are in rage at present, though it was conceived in the early 80s, now before we start a talk on crypto-currencies as whole people mostly points towards bitcoins before it comes to the forefront of everybody’s mind. Here we will take a rough dig on what well-known investors and business person’s views are on cryptocurrency.
The esoteric Satoshi Nakamoto launched Bitcoins. They opened a Pandora’s box, unleashing the mystery of cryptocurrency all around the globe with its SHA-256 encryption along with the concepts of proof of work. The popularity of bitcoins promoted the rise of other crypto-currencies commonly called as Altcoins, for example, Litecoins, Ripple, Ethereum, etc. they are entirely the internet-based medium of exchange that use cryptography to ensure secure transactions and a safe transfer of assets, and it also regulates the number of the units held. A glimpse of the investor’s mindset on crypto-currency through the website like bitcoin trading.
- Former CEO of Google, Eric Schmidt calls it a remarkable cryptographic achievement on the other side Warren Buffet
- The CEO of Berkshire Hathway calls it a mirage and advised people to stay away from it. This helps in perceiving the mixed reaction of popular views.
- Bill Gates, the founder of Microsoft, says that it is a transformation for the underlying economy and services. He also mentioned the benefits for people who live in direct poverty, and it will help in endorsing the other activities, including health and agriculture.
- The globally known computer programmer John McAfee shares his views on it, stating if crypto-currency is widely used, it is true financial freedom.
- The SpaceX CEO Elon Musk says that crypto-currency is a better way of transferring values than the piece of paper.
And similarly, there is an endless opinion by has been shared by many such faces. People also say that they don’t need to own any native currency anymore; the future is going to be entirely driven by the internet on the internet. The mixed views above are a sign that still bitcoins have to travel relatively long to become one of the most trusted currency and same with the other crypto-currencies. At present, one of the major problems is its regulation. Many people use them for carrying out illegal activities like money laundering, smuggling, narcotics, and so on.
Therefore the government is trying to bring them to the proper regulation so that they aren’t misused. Cryptocurrency is gradually becoming a primary choice among merchants, as of now it is still used by few, but the results show that soon it’ll be adopted by many of the merchants and consumers. One the major obstacle in getting popularity among the normal citizens is its complexity when compared to the traditional currencies which need to be overcome other reasons are computer crash which might result in loss of fortune and the hackers manipulating the crypto-currency during the process of exchanging or trading, technological advancements can tackle these challenges.
From 2009 to 2020 we have already seen many advances like the introduction of applications like Coinbase to make it easier for people to get in touch with the crypto-currencies, in the year around 2013 there weren’t many conferences or events planned to be crypto-currency centric. Still, at present every second week, it can be observed, comparatively many people and groups have started talking about this on big platforms too. Before, the stock market or finance based channels usually used to discuss the statistics of the major companies and the assets like gold, crude oil, etc. but now the more considerable amount of content space is taken by crypto-currency because of the popularity of Bitcoins in the market. Apart from this we also witness many podcasts on bitcoins, debating about the future possibilities and the types of different start-ups that will be hinged upon the world of crypto which will rise and might dominate the existing companies. Already, people have started initiating their bitcoin mining firms stating it as a really good source of passive income. However, it requires a heavy capital to establish it turned out to be one of the successful ideas of mining at a large scale and become a substantial source of income.