US regulators are now targeting Bitcoin ATMs. About 88% of the funds exit the country through machines. However, several users opine that Bitcoin ATMs are overrated and that they do not push crypto adoption as much and that they are not useful in the first place.
Regardless, lot of opinions of these machines contributing to alleged cross-border illicit financial transfers. There is a reported increase in the amount of money, which is wired to overseas exchanges at high risk. While specific figures are not available, there is no mention of Bitcoin ATMs, though.
Just like anything, there are Pros and Cons to BTC ATMs. The Pros are that they are easy to buy and sell, and the security and anonymity is maintained. The cons are that the BTC ATMs are not free of cost, nor are they easy to locate.
And the idea of Bitcoin being the peaceful protest is being tweeted by several major personalities in the cryptocurrency space.
Vitalik Buterin tweeted: “Bitcoin was born out of a crisis that was fundamentally financial in nature. Either the banks misbehaved, or the government over/under/misregulated the financial sector, or they bailed out too many banks, or they printed too many dollars.”
Irrespective of investor’s opinion, Coin Metrics states that, “All facets of Bitcoin’s trading volume have experienced exponential growth and, if sustained, will grow to levels similar to major asset classes.”
Bitcoin (BTC) Might Not Solve Existing Inequality
Bitcoin tweeted: “You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.” ― Buckminster Fuller.”
In response, someone clarified that bitcoin might not solve the existing inequality magically; however, would provide the guarantee of a “fair money system.” Further, reinstating that Bitcoin is that which is not easily corrupted by those with power and that all participants are in equal footing.
The world is slowly opening up again, and people are beginning to travel again. Post lockdown spending using Bitcoin, BCH, and other kinds of cryptocurrencies is becoming a reality.
The Bitcoin Hashrate is slowly bouncing back like 2x the Mining Pools with decent levels of farm diversification. Bitcoin is here to stay as the Master Template, and it will be well remembered for being the precursor inspiring exciting uses in the cryptocurrency space. No one can deny that Bitcoin is the Grand Daddy of fast peer-to-peer transaction systems worldwide with low processing fees.
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