Most Significant Elements to End Bitcoin
1 . There is no return from the moment you receive the bitcoin or send it to someone. It is not possible for you to get your money back unless the other party gives you a refund on your own. If you make a payment by credit card, you can cancel it and your credit card can be refunded. Consumer laws protect you. But there is a consumer law that protects a person who accidentally makes a payment with a bitcoin or who sends money at the wrong time, and there is no unit that can apply. As payments are made with bitcoin, the fraudulent shopping sites accepting bitcoin will multiply rapidly, receive the payment but will not send the desired goods or services. Even now, there are sites that say that you are selling a £ 850 mobile phone for 150 TL, but after you pay, they send cucumbers in the box instead of a mobile phone. If you think that this site receives payment with bitcoin ... BTC can never be a payment unit developing in the world because of the sites that will use it for EXCELLENT VOLATILITY, INSTABILITY and FRAUD.
2. Another reason for the price increase of Bitcoin is very clear to the money laundering business. You give your identity when you open your account book and you can make the money required to buy a bitcoin from a bank or other financial institution. If the requirements of legislation such as depositing money into financial institutions to show the source of the money you have in Turkey. The source of the money that goes to the Bitcoin wallet is a little bit different. However, you can make a lot of money to Turkey. Or you can deposit your money into a bank and take your BTC to your bitcoin wallet without opening an account in Russia. All transfers are kept in logs, but only you can see. Therefore, there is a tremendous opportunity for drug traffickers. In fact, I think that these types of money launderers are raising the BTC price and carrying the aim of carrying out their transfers in much higher amounts. If you are in doubt, many countries will regulate on this issue and will be able to bring the need for the Central Bank to clearly see the entire transfer of funds. The United States will not allow such confidential transfers and the finance minister has already said that work has been done in this regard. Legal regulations are a serious question about bitcoin.
3. Was the entire BTC money required for shopping or money transfer? The answer is definitely NO. So I mean that. Did you open the bitcoin wallet and buy bitcoin to buy books from Amazon.com and not to pay commission on your credit card? NOOO!... If you have bought it, you only bought it in the future considering that the price will increase further. If there was data on shopping with BTC, it would be possible to make a better assessment. But there is no such data. Moreover, BTC does not want anyone to use it for shopping because it is extremely over-volatile. Only an unconscious investor keeps buying the mass with the imagination of being rich.
4. The most important element to finish Bitcoin will be when you realize that BTC is not just an investment vehicle, but a payment instrument. Shopping and paying with BTC, one of which is $ 17,000, are pointless. There are now 1300 bitcoin-like currencies. There are those who have invested in these currencies by guessing which will be worthwhile. People will be able to make very low-cost payments with virtual money that central banks will take. Or the most stable of these 1300 currencies will be the most used money in the currency that does not change much in price.
Bitcoin can be 30-40 thousand dollars as it is 17 thousand dollars or you can look at it in the morning and it is 2-3 thousand dollars. These have all happened in history before. The value of the South Sea company in the UK has risen to $ 85 trillion by today's money. These are the financial markets.