Global Impact

global impact of bitcoin

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• published: 17 Oct 2016
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online banking Bitcoin is a payment system invented by Satoshi Nakamoto, which he published in 2009 as an open-source software. Claims the identity of Nakamoto never verified, but the Bitcoin rose from obscurity among the largest of its kind, now an asset is called the "crypto-currency. The main feature of Bitcoin is that, contrary to conventional and traditional printed piece is an electronic payment system that is based on a mathematical proof. traditional currency banking systems they control and in the absence of a single body controlling the US Treasury has the Bitcoin called "centralized decentralized virtual currency. The reasoning behind Bitcoin was to produce a completely independent currency of any central authority and that can be electronically transferred instantly with virtually zero transaction costs. At the end of 2015, the number of merchants that accept Bitcoin traders payments for goods and services exceeded 100,000. Big banking organizations and financial regulations such as the European Banking Authority Thus warned that Bitcoin users are not protected by the rights of chargeback or refund, online bank account while accepting financial experts in major financial centers that can provide Bitcoin legitimate financial services and valid. Moreover, the increasing use of Bitcoin by criminals by legislative bodies, enforcement agencies of the law and financial regulators cited as a major cause for concern. The owner of the Bitcoin Service coupon Azteco Akin Fernandez notes that there will soon be a major game changer in how Bitcoin will be generated. The Bitcoin generation rate each day literally cut in half, "and it can completely change the perception of Bitcoin, but it will be almost impossible to predict how the public and traders will react to such a move. In the context of such an approach, predictions are that the Bitcoin transaction volume is set to lead this year on the back of a Donald Trump likely triple presidency. Some market observers believe the price of digital currency could spike in the event of such a possibility led to market turmoil worldwide. The Panama scandal broke Papers called on the European Union in May this year to fight against tax avoidance strategies that the wealthy and powerful use to spend stash wealth of new rules. The current rules are designed to fill gaps in the law and the proposed measures are efforts to end anonymous trading of virtual currency platforms like Bitcoin. Much more research must be conducted by the European Banking Authority and the European Central Bank on the best strategies to deal with the digital currency is currently no European legislation.