"Hacking and scams remain the top risk for Bitcoin holders. Exchanges that shut down or passwords stolen from devices can easily wipe out a person’s bitcoins. Moreover, governments and central banks from various countries are starting to impose limitations on the use of cryptocurrencies.
Digital coins clearly threaten the political and economic establishment, and the regulatory environment can quickly change with the stroke of a legislative pen. Banks and governments typically use familiar language in the media, such as the need to protect consumers from new risks.
We are hearing familiar talking points from politicians who are getting pressured from the banking lobby. It seems that the root cause of the status quo’s actions in 2017 is to protect fiat currencies and traditional financial interests. Competing digital coins represent a potential end to the government’s monopoly of the monetary system." - Bitcoin.com
What are the top risks for Bitcoin holders?
For me the most fearest thing is legalisation of bitcoin in my country , Since I am from India so I can understand very well that how much we are facing the problem of legalisation of bitcoin in my country India .Digital coins clearly threaten the political and economic establishment, and the regulatory environment can quickly change with the stroke of a legislative pen. Banks and governments typically use familiar language in the media, such as the need to protect consumers from new risks.
We are hearing familiar talking points from politicians who are getting pressured from the banking lobby. It seems that the root cause of the status quo’s actions in 2017 is to protect fiat currencies and traditional financial interests. Competing digital coins represent a potential end to the government’s monopoly of the monetary system." - Bitcoin.com
What are the top risks for Bitcoin holders?
Here government of India is not open about cryptourrency , they are not going for the fully legalisation and also they are not going for the ban .
But opposite of this they are trying to stop bitcoiners to use cryptourrency by making new new rules over the banking sector authorities .
So a type of confusion is working for me and in my mind and I don't think that is perfect for me to have mentilty and positivity to create trust with bitcoin .
Hope government of India may give the perfect and clear descion about cryptourrency and allow people to use bitcoin directly without much limitations.
