Bitcoins meteor rise is attracting a ton of attention but is it ready for the mainstream ?
JP Morgan Chase CEO Jamie Dimon recently called Bitcoin a "Fraud" And said that crypto currency Prices Are in A Bubble That is Going to Burst many investors have stayed on the side lines as crypto currency is seen as to volatile and don't have the safe guides that most Financial assets do.
A Number Of Hedge funds however, are investing in crypto currency's and Goldman Sachs is reportedly exploring how it could help clients trade digital tokens, other companies are stepping up efforts to bring crypto currency to the main stream
opening regulated exchanges, creating futures contracts and attempting to list exchange traded funds.
The recent surge in crypto currency prices has coincided with the flood of interest about the block-chain technology behind bitcoin which uses a decentralized and public ledger of transactions that cannot be manipulated.
IMB, Microsoft and Toyota have all invested in block-chain and are looking at potential applications ranging from food safety to driver-less cars.
So What is Preventing even more widespread adoption ? Regulation or the lack there off, in July 2017 the SEC
announced that federal security's law may apply to some crypto-currency without providing any concrete guidelines to determine which ones, meanwhile china has outright banned ICOs or initial coin offerings along with exchanges where coins are traded.
Guidlines for individuals that mine and trade crypto-currency also vary wildly with countries like Venezuela going as far as putting miners in jail. So whats next in the year ahead ?
The crypto currency community is eager for clarity from regulators on ICOs, Mining and tax's as that happens more investors and end users could dip their toes in the water .
Many have compared the current state of bitcoin to the early days of the internet a digital wild west, teaming with opportunities, and just like the internet there will likely be winners and losers.
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