Breaking News

Can human beings stop bitcoin anymore? Bitcoin mainstream use of substantial growth

The recent rise in the value of bitcoin has given rise to different reactions in other areas of the industry. As cryptocurrency investors are excited about their lucrative investments, some businesses have become less able to accept volatile bitcoin.

As bitcoin prices skyrocketed, more attention was paid to the cryptocurrency market, which included a group of enthusiasts and regulators, though of course the two groups were completely different in terms of cryptocurrencies.

Remains to be seen

Valente Satyam,'s co-founder and CBO, believes people should pay more attention to the developing countries' attitudes toward bitcoin. He believes that when Bitcoin becomes irresistible, it may break the nation's bottom line, and then the only thing we can do is see how it continues.

Satyam told Cointelegraph:

"We should pay more attention to the attitude of developing countries to bitcoin and perhaps a major economic mess is coming in. Although blockchain will bring more security, this decentralized system will best weigh Internet, but bitcoin because of its huge body mass now unstoppable, many countries are at a loss what to do with their position on the Bitcoin is not sure, its attitude may be changed according to different situations.

Bitcoin continues to be accepted 

On Thursday, December 7, 2017, the ORCA Alliance and EU-40 co-organized a roundtable to discuss "How should Europe cope with the fast-growing cryptocurrency?" Participants at this conference included a number of industries Leaders such as Sarakopani, legal counsel for Bitffinex, Craig Sellars, CTO of Tether, John Earpats, legal expert, Avingian, co-founder of ORCA Alliance, Jeremy Gardiner and some EU members. This roundtable is based on the EU parliament.

Aivian told Cointelegraph that due to the lack of global consensus on bitcoin and cryptocurrency, similar meetings will be more and more in the future. He also mentioned that even for the most innovative and open-minded organizations like the European Union, there is no simple legal system for the relevant market. He then said:

"As a body we want to see regulators from different communities around the world come up with a synergistic and free approach to this emerging market."
According to Avis, it is widely accepted that bitcoin will be widely accepted in the near future for the following three reasons:

The increase in the number of bitcoin end-user transactions
Blockchain technology application growth
Its disruption to the financial system

We need to keep bitcoin

During the meeting, EU member Solimão Say pointed out that the virtual currency should be preserved, but he expressed concern about how to eliminate those "fraudsters." He said:

"The new AMLA directive will make the entire market cleaner and regulatory oversight of the ICO should also be included in the agenda. The issuance of ICOs should comply with EU safety-related legal systems and their systems should be well defined, For example, the ICO should indicate whether the tokens being issued are merely tokens or whether they represent usability or whether the product is a security product. "
Khalili, another MP who shares the view of Mozambique, emphasized that cryptocurrencies should be more and more centralized so that intermediaries no longer play an important role. At the same time, he believes that policymakers and regulators should wait for developers and the market to do the necessary testing and then intervention.

Look forward

Netcoins CEO Mike Fogel told Cointelegraph that because of the current bitcoin and blockchain real expert too few, causing people to have a lot of wrong ideas.

Fogel said that we can see two reactions to the widespread use of these technologies in the world: their instinctive rejection and their desire and patience to learn the technology at the same time. China's love and hatred of digital currency is one of the most interesting things that I am concerned about.

"I think the next phase of Bitcoin is for more and more people to use it; I always tell people that once you get started, it's easy to understand bitcoin, and once they end up using bitcoin, most People will find it not as mysterious and perplexed as people thought at first.Because of the gradual progress of knowledge and understanding of bitcoin, the positive potential of bitcoin in the next few years will be like we saw in 2017 getting bigger."
The growth of Bitcoin and cryptocurrency is significant, exceeding many people's expectations of the industry. With the imminent arrival of 2018, people are expecting more. Many are looking at the government and regulators' reaction to digital currencies next year, and the emergence of relevant regulators and legal systems will allow bitcoin and other cryptocurrencies to be accepted and used by mainstream markets.