Bitcoin has introduced new horizon in the e-commerce market, with plastic monies and online transactions holding a prominent role. It has transformed the age-old traditional transaction methodologies and has emerged as the leading cryptocurrency in the new currency market. But some critics are of the opinion that Bitcoin can have several illegal transactions made by drug dealers and black money holders to create a channel of dark web transactions.
One such psychology emerges from the conversation of Ms Rogers and Mr Lewis. Keeping its wheel of fortune moving, Bitcoin today has gained immense popularity amongst investors and network operators. With this in mind people assume Bitcoin to be real (not fraud!).
With this analysis, Mr Lewis began explaining Ms Rogers that Bitcoin is a volatile market, the steers of which are in the hands of the bitcoin users. There is no central governing organization. Drawing an emphasis on this, Lewis continues that there is a definite link between Bitcoin and the chaos in US Federal Government.
An editor of Vanity Fair, Lewis wanted to go in-depth to understand the functioning of Bitcoin. So he met up few Bitcoin experts who explained to him that Bitcoin is a wallet with which he can purchase any product. They provided him with a wallet like application with Bitcoins worth $5. Although Lewis was initially unable to purchase with this amount (as the coffee shop didn’t accept bitcoin), the value of that $5 has now raised to $378 and is safely deposited in Bitcoin.