The value which is currently in Altcoins will be in Bitcoin

dan saada By dan saada July 4, 2019 Off

Being able to move money from the accounts of customers to that of retailers is the new fancy in the cryptocurrency world. Being able to complete a transaction efficiently with a remarkable degree of fraud protection is the most significant progress in financial transparency.

Cryptocurrency is also becoming a vital force in philanthropy.  When it is about discussing facts about cryptocurrency, people think about money laundering and a whole lot of security concerns.  However, there are very few people who are thinking about donating to charity. For quite some years now, cryptocurrencies have been widely used in the philanthropy sector.

Due to the cryptocurrency ban in India, several cryptocurrency exchanges are moving their operations out of India.  This is because, the Reserve Bank of India in April 2018, stated that entities who are regulated by it, cannot deal with or provide services to businesses or individuals who are dealing with settling down virtual currencies.

Saravanan Vijayakumaran, an author of The Security of the Bitcoin Protocol, stated, “Funding terrorism is the major fear behind the cryptocurrency trade.”

Khandelwa stated, “The required infrastructure for this industry is just the software engineering talent in India.”

Due to the ban from the Reserve Bank of India, it is becoming increasingly challenging to do bank transfers using cryptocurrency in return.  Previously the bank transfers to convert cryptocurrency was done using NEFT (National Electronic Fund Transfer).

Neeraj Khandelwa, Co-founder at CoinDCX, stated, “We are trying to shift our base out of India, which would help us to expand our business model globally.”  He further said, “India has the second most blockchain developers in the world.”

With different things happening in different parts of the world, there are not much of Altcoin returns like the Wild West situation in 2017.  There is very less irrational spending in the process of buying Altcoins.  The numbers of ICOs published are coming down. However, several investors are keeping their fingers crossed to see Altcoins like TCAT tokens bump on a surge.

The hash rates are steady online.  There is sustained interest seen in the BTC infrastructural investment.  Hashrate spikes are often seen preceding price increases.

Max Keiser thinks that among several other things that the Bitcoin might lead people to resort to the most prominent cryptocurrency in the world after abandoning Altcoins.  He also believes that all the value which is currently in Altcoins will be in Bitcoin with an improved market dominance rising from 80 and 90%.