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What Does Bitcoin Depict in its Future Course of Action?

This market is not stable at the moment. It is driven by flow of transactions driven by sentiments of opportunistic and fear of loosing big.

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virtual currencies, bitcoin, investors
People use a bitcoin ATM in Hong Kong. VOA
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Bitcoin has been in exitance for nearly 10 years now and it has witnessed all extra ordinary ups and downs in all these years. There was a time back in 2017 when it recorded the highest ever price of $19783. Although the prices plunged back down by more than two third from its peak in response to the interference of regulators. Such swings in the prices of any currency instruments does not occur in the normal course of market.

More of that later, let us focus on understanding the concept of Bitcoin.

bitcoin-, Cryptocurrency
You cannot expect to rush into cryptocurrency trading and think you will make a huge
investment worth millions. Pixabay

What is Bitcoin?

Bitcoin is a cryptocurrency developed on the platform of blockchain technology. Its founding developer is believed to be Satoshi Nakamoto in 2009, which is known to almost all interested folks. But, Bitcoin and its peers does not operate in the form of bills or coins published or regulated by a government or bank. They are electronic assets formed and checked by a community of users who act in a decentralized way. They follow the same set of protocols as laid down by the person or persons who dreamed them up including Satoshi Nakamoto. It’s so called Bitcoin miners use the encryption technique which is depicted by the term “crypto”.

Bitcoin’s real innovation indeed was the development of Blockchain technology which is the foundation of all new crypto currencies being developed till date (except a few). Blockchain is a publicly visible and largely anonymous online ledger that accounts the calculations performed by miners to authenticate the transactions without the need for a regulating central authority. One can buy or trade bitcoin and other altcoins at any of the major cryptocurrency exchange.

 

Bitcoin
Transactions in cryptocurrencies occur the same way that you make transactions using any other fiat currency. pixabay

 

How does it Operate?

Well, as far as the price of the crypto is concerned, it is mostly driven by the demand and supply factor in the economy, just like the price of any scrip in a stock exchange is determined. However, the stock market are regulated by the regulating authorities like SEBI in India, but there is no such regulating body in operation for cryptocurrency markets yet. Although, US is in the process of making a regulating body to control the activities of cryptocurrencies and give membership to those crypto operators who abide by the rule of such body. We might see a whole lot of regulatory bodies for this segment in the coming years.

Let’s turn towards the real deal for common folks. Exactly how does a transaction occur using these cryptocurrencies. Well the answer is as simple as you already know. Transactions in cryptocurrencies occur the same way that you make transactions using any other fiat currency. There are various e-wallet service providers, in which you can keep your crypto tokens (Bitcoin in this case). The only thing is that you may need to route through a crypto exchange in order to get hold of this currency unless you are getting paid by some other user. Several crypto exchanges are in operation now a days from where you can easily buy bitcoin with credit card or choose for the USD to BTC conversion over the counter. You can pay a part of Bitcoin in order to fulfil your transactional payment just as a cent in case of a dollar. Not to mention that you can transact with Bitcoin through electronic mode only.

bitcoin
A Bitcoin logo is shown at a Bitcoin trading store, Dec. 21, 2017. VOA

That concludes the basic understanding of how this crypto operates in the real world. Bitcoin and its peers hold the potential for a revolutionary change in the operations of an economy. But this market is not stable at the moment. It is driven by flow of transactions driven by sentiments of opportunistic and fear of loosing big. For any new mode of transaction to overtake the current fiat monetary market, it must be as stable and regulated by a responsible authority. It is definitely going to take some considerable time for cryptocurrencies to get regulated. Until then, people will continue to use Bitcoin as per their potential and needs thereby making a strong case for its mass adoption.

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Lack of Proper Sanitation Affects 620 Million Children Around The World: Report

Despite the improvements, more than a third of the girls in South Asia miss school for one to three days a month during their period.

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A new toilet recently installed in a Rohingya refugee camp in Bangladesh. VOA

A lack of proper school toilets threatens the health, education and safety of at least 620 million children around the world, the charity WaterAid said in a new study published Friday.

Children at 1 in 3 schools lack access to proper toilets, putting them at risk of diarrhea and other infections and forcing some to miss lessons altogether, according to the study, based on data from 101 countries.

Guinea-Bissau in West Africa has the worst school toilets while Ethiopian children fare worst at home, with 93 percent of homes lacking a decent toilet according to the report, released ahead of World Toilet Day on Monday.

toilets, students
Students arrive for class at the Every Nation Academy private school in the city of Makeni in Sierra Leone, April 20, 2012. VOA

“The message here is that water and sanitation affect everything,” WaterAid spokeswoman Anna France-Williams told the Thomson Reuters Foundation. “If there’s no toilet in schools, children will miss lessons and it will have an impact on their growing up.”

Diarrhea, infection risk

A lack of proper sanitation puts millions of children around the world in danger of diarrhea, which kills 289,000 children younger than 5 a year, WaterAid said.

But some regions have started to clean up their act, notably South Asia, where access to toilets in schools has improved.

More than half the schools in Bangladesh now have access to decent toilets, while students in 73 percent of schools in India and 76 percent of those in Bhutan can access basic sanitation.

Akramul Islam, director of water, sanitation and hygiene at the Bangladeshi charity BRAC, said the country’s once-high levels of open defecation — using open ground rather than toilets — were now less than 1 percent.

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India’s plight in sanitation has not improved much since ages.
Pixabay

“Today, schools have separate toilets for girls and boys and the issue of menstrual hygiene is also being addressed,” he said. “This has happened because of initiatives taken by both the government, the NGOs and other stakeholders.”

Also Read: 3 HIV+ Students Banned From School in Indonesia

Improvement needed

Despite the improvements, more than a third of the girls in South Asia miss school for one to three days a month during their period, WaterAid said, urging greater investment in basic sanitation.

“If we are serious about all children and young people, wherever they are, whatever their gender, physical ability or community background, having their right to clean water and sanitation, we must take decisive and inclusive action now,” said Chief Executive Tim Wainwright. (VOA)