The developer of the etherium calls the crypto-currencies as a market with a bomb effect

The developer of etherium is probably the most competent person to forecast the future of crypto currency such bit coin. According to their views, the technology in the modern world is getting fascinated with easy cash flow. With the invention of bit coins, many people are getting fully involved with bit coin mining profession. Some of the leading bit coin miners in today’s world used to work for the respected company but due to the easy mining procedure, they have chosen bit coin mining as their full-time profession. Not only this, the crypto currency is changing its value in a dramatic fashion and now a single bit coin is worth of $2440.According to reliable source, startups has already raised more than $1.3 billion by selling bit coins to mass crowds. Since bit coin has no centralized locations, Hokinson has already stated that the future of crypto currency is totally unpredictable due complexity in regulations.

The block chain technology has grabbed the attention of so many people that the co – founder of ethereum network considers it as the high time to settle down the things in planned manner or else everything will be out of orders with a massive flow of crypto currency. Charles Hoskinson has already resembled the bit coin with the ticking time bomb due to explicit use of its nature. Even this might put a great to the paper money as there is no cost in transferring the money from one account to another account and even in different countries. Ether, another crypto currency like bit coin started with an initial value of $8 but over the short interval, it traded over $400 in the global market. But as we said the price is totally unpredictable the price of ether has now fallen near about 50 percent. This dramatic fall in the digital currency made millions of people suffered as they were blindly invested in crypto currency.

Nowadays many people from the U.S are participating in coin purchase program on a massive scale since the price of bit coin is sky rocketing and the regulations in the U.S is not clear. Though the price of ether fell by 50 percent after the initial surge to $400 the rising demand for crypto currency helped it to gain near about 3000 percent in this year. So the extreme level of fluctuation of the unregulated digital currency is becoming the number one choice for the large investors and even institutions. But no one has ever considered the devaluation of this block chain crypto currency in near future. Many people are considering the Bit coin or the crypto currency as most favorite currency for the next generation. To be honest this might be true but still, the questions remain about the security of the government issued notes and tax. If everyone diverts into crypto currency and makes it as the number medium for all sort of financial transaction then it would be really hard for the local authority to track the perfect cash flow of their economy.
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Weekly market overview November 12 - 16
Weekly market overview November 12 - 16
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