asked in Business+Finance by (385 points) 1 3 13
Will Cryptocurrency survive despite ban by many countries?

Will you use it online for investment or purchases?

Any other opinion?

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answered by VISIONARY (9,060 points) 5 21 52
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When cryptocurrency first came out many people told me to invest in Bitcoin it was the currency of the future. I thought this was just another scam and a way for a person to create his own currency. Furthermore, my thought about electronic currency was very low and I had no trust in this at all. In truth, I am surprised this currency has lasted as long as it has and has gained as much popularity.

There are so many people who use this form of currency now and have invested quite heavily in it. I understand a few countries right now have banned mining cryptocurrency in their country. Not so long ago China banned all mining of cryptocurrency and this was an issue for a few mining companies. They were forced to go elsewhere to continue mining the cryptocurrency.

In my opinion, I don't think this will stop people from using this type of currency because of how it has grown in popularity over the last few years. I do see that many countries will or might start to enforce stricter laws and regulation to control the currency. This might cause a cap on the potential of the currency and on the other hand, this might help it in the long run. 

It is still too early to see what will happen to this currency and if people will get scared and pull out their investments before the currency crashes and has some major problems. As of right now I'll still collect small amounts of cryptocurrency and store them in my wallet. Other than this I don't plan on investing a large sum of money into the currency. Currently, there are many sites online that offer you to earn small amounts of cryptocurrency for working on their sites. As time goes by these smaller amounts you earn for doing simple, small tasks do add up and over a period of time gain more from the market. I feel if the market is having issues this is one of the safer ways to have cryptocurrency. If the market gains again, then your small amount of cryptocurrency will also gain. If the market fails or starts to lose, then you aren't out much at all. Just a bit of your time and energy to go to these sites and earn free cryptocurrency. 

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