December 13, 2013
Bitcoin reminds me of the old poem by Samuel Taylor Coleridge called The Rime of the Ancient Mariner, where he says 'Water water everywhere, and not a drop to drink'
While Bitcon value has gone from $50 to $1200+, most of us have been mere speculators. Very few have actually got Bitcoins and even fewer have transacted using a Bitcoin. Wall street analysts have predicted that the Bitcoin’s value might reach 10 to 100 times its current value (from $860 on 12th December 2013). Still people are reluctant to buy it. They are afraid if they will be able to freely sell it in their country. Many think that its a bubble, a ponzi scheme and they might lose money. They want to know what their Governments stand is? Are the banks allowed to trade in Bitcoins?
Somewhere along the way, we have gotten used to being regulated.
Lets accept the fact that Bitcoin's biggest strength is its decentralized, digital, and international form and shape. Yet, the currency is lacking mass adoption and is restricted to the privileged few. Even though there are so many ways, websites and means to mine, buy, sell bitcoins. Some experts believe that there is a big opportunity for governments to regulate this currency. Make it legitimate somehow. So we thought of looking at some of the countries which are seeing traction.< ...