The world largest economy the U.S. may overhaul its money supply containing paper currency, cheques, and coins if crypto-based bull market accelerates its speed. According to the UBS – a global banking giant advises the crypto bull rally that they have to trade patiently while keeping in mind the real facts about the U.S. money supply. The crypto major Bitcoin must trade at  $213000 precisely if it really adds value to the US economy.

Because in the present scenario where Bitcoin is unstable and limited and cannot be feasible through which that can be used as a means of payment for any global transactions. Nor does it gets accommodated in any asset class as said by UBS.  When we compare Bitcoin with other payment methods like VISA, Mastercard, the Bitcoin can be recognized as payment options only if it adds its network capabilities that it currently lacks the processing power in order to handle multiple transactions at once.

The crypto major will struggle until it fixes this problem in place. Only then it will widely be accepted by everyone and thereby fuelling its growth. With this, the major concerns with the Bitcoin are its extreme volatility that creates a complex situation for its growth and wider recognition as per the valid source by UBS. Additionally, the unusual demand and fixed supply of the crypto major make the system vulnerable to higher price volatility thereby making it difficult for Bitcoin to be considered a new asset class. Needless to say that the year 2018 has been frustrated for Bitcoin as it has lost more than half of its value approximately $20,000 since December last year.

Amongst all these complexities, the Bitcoin initiated a rally by rising above $8000. This is a good signal amongst all those cryptocurrencies that are traded on worldwide exchanges.

Let us not forget that there are more than 1750 cryptocurrencies (as per CoinMarketCap) are traded currently. Now that the blockchain technology and the crypto concept have started gaining its footprints amongst the worldwide investors and entrepreneurs community, there is a variety of mechanism requires to be in place for the perspective to gain a competitive advantage against the traditional payment methods in place!!

Unlicensed Bitcoin mining in China: Government takes firm steps.

Asian countries have to deal with a spectrum of issues when it comes to crypto currency. These issues include money laundering as well as illegal mining of virtual currencies. Even though measures are being taken by the governments of the different countries, there can still be noticed instances of greed taking over the actions of individuals who indulge in the trading of crypto currencies. For example, the major scam that took place last year in Japan has led to FSA tightening its laws for all the exchanges, thus sending the market in a frenzy regarding the firm regulations which it has chosen to put in place.

However, this is not just the case with Japan, China is also speculating the activities related to crypto currency and lately, it has warned Bitcoin mining organizations in one of its regions, Xinjiang Uyghur, to stop its activities. It was found that these companies were not registered and neither had they paid the taxes which have to be paid for the establishment of such an enterprise. Moreover, there was a lot of consumption of electricity on their part. Because of these suspicious activities, the regulation authorities have warned these local companies to stop their operation immediately.

The local authorities were told to inform the government about the prevention of operations of these companies, it is being heard lately that a prominent Bitcoin mining company was interested in establishing itself in the region of Xinjiang Uyghur, which is an autonomous region; however, not much has been heard about it since a long period of time. Moreover, the crackdown of authorities on these companies can be deemed as a strong step against various other such illegal activities going on in the country as well. China has a long history in the phenomenon of mining of Bitcoin.

It is necessary to recollect that China used to be a pioneer in Bitcoin mining in the past years. However, it has imposed considerable control on its mining activities since last September. As mentioned above, Bitmain is still associated with the role played by Bitcoin in China. However, the illegal activities related to Bitcoin mining are kept under control. China has seen to it that all the illegal activities related to Bitcoin are curbed as soon as possible, and these activities include a lot of illegitimate mining activities. Attempts have been made to wipe them out, but they continue to exist in several parts of China.

It has been clarified by the authorities that this region of China would not be open for further trading or mining of crypto currency. The consequences of measures taken by China will be far reaching in terms of the enhanced level of security, but it will take a while to completely remove these kinds of activities from the country.

12th July-Competition is not going anywhere as far as the field of crypto currency is concerned. Swarms of exchanges are hounding the world. It is necessary for every entity involved in this field to remain at its toes and crypto currency exchanges are no exceptions. It has become necessary for every crypto currency exchange to provide the best to the users and to take whatever measures have to be taken to ensure that an efficient system is in place ensuring these things. For these things to take place sometimes a few changes have to be made and one such significant change has been made by the Australian virtual currency exchange, Bitcoin.au.

A flying sparrow has made us aware of the change of the CEO for the Bitcoin.au which is the Australian crypto currency exchange. The new CEO of this exchange is Ben Ingram. As it turns out, this newly appointed CEO has had substantial experience in this field. Ben Ingram had formerly worked with the pioneer in the field of consultancy, Price water house coopers, which have often been abbreviated as PwC. Moreover, the functions assigned to Ben Ingram involved the formation of a strategy for digital realm. Ingram quit the company in March 2018.

It has been found that with Ingram on board, there are a series of goals that Bitcoin.au is looking to accomplish. It can be believed that the company is aiming at making things better around the place. For example, focusing on the way the company is carrying out its daily activities and functions. Moreover, the ultimate aim is making a place for the output of the virtual exchange in the previously unexplored markets.

Moreover, Ingram has also explicitly stated that the areas he wishes to explore are those which are not well organized and are in need for a breath of fresh air because of the lack of organization when it comes to the currency operated by the government. There are various such sectors where the entry of crypto currency can be welcomed.

The trading that Bitcoin.au offers includes the operations in Ethereum, Bitcoin and commenced the trading of ETH in the month of March. It can be expected, as stated by the newly appointed CEO of this trading platform that several other currencies will also be put up for the purpose of trading by this virtual currency exchange in the long run.

Ben Ingram, in a very insightful way, has stated that even though there are hurdles at this point in time, in dealing with this sort of technology, it can be believed that there is no “dead end” here.

To conclude, the “tomorrow” of digital currency looks better in Australia than many of the countries of the world because of the measures taken to indicate the ease of operation and the transformation in different dynamics and systems to make sure that there is a smoothness of operation for those willing to undertake crypto currency and its operations under the Australian threshold.