I need this question answered by 12/3/2017 8PM what do you think of my analysis?

Question

I need this question answered by 12/3/2017 8PM

what do you think of my analysis? should i add anything? do you see any grammar errors

Regarding government regulation and the outcome, it is “legal” to trade bitcoin for products and goods in most of the world. Many governments are still lost on how they should handle this cryptocurrency. Regardless or not of government regulation or intervention it can be noted that the invisible hand will continue to strike down onto this new non-fiat currency. This principle can be best viewed in a recent news video by CNBC reporter Diana Olick where she reports on a “purchase of US real estate by virtual bitcoin” (2017). Nonetheless, even though bitcoin is currently being used to buy homes and products, no government offers its protection if it is stolen. A growing market that yearns for something innovative and easier to use that forex is the catalyst. Given this piece of information, it is not odd that cryptocurrency is being accepted for goods and services, at this rate it is expected that bitcoin will reach a price like gold. It could be noted however that a government might be able to improve the market outcome in their favor if it were able to protect consumer assets in the same fashion where a major bank would reimburse a consumer for stolen funds. The added benefit of security, along with transaction fees and government regulation can improve the stability and market income for whichever government is willing to invest in it.

Explanation / Answer

Most of the things mention here are right except one big error.

Cryptocurrency or In this case Bitcoin are based on Blockchain technology and these can't be stolen. A blockchain is basically a log book which has a record of every transaction and is available to everybody who wants to access it. IN such a scenario it becomes almost impossible to steal things, it is viewed by every other person and that is what makes Cryptocurrency incredibly safe.

Apart from this, there are other concerns with the anonymity it gives to its users. For example, A billionaire wants to evade tax right now he will have to launder that money out of the country and use different tax havens, it has risks but the money can be traced back example Panama Papers. But with cryptocurrency, its just a number which holds the money and the person is completely unknown this can increase tax evasions, funding of illegal activities like drugs and narcotics, terrorism. This is the main reason why Governments are not in favor of this currency.

Another benefit the cryptocurrency gives is, it does away with the need of any middleman like central banks. But given the problems mentioned above, it is possible that central banks will issue their own digital currency which can be regulated and it's not that anonymous. But this will certainly reduce some of the Cryptocurrency benefits and make it like any other fiat money.

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