#Crypto $BTC $ETH #Memecoins🤑🤑
Security for P2P and Actual POW for Inflow a major concern for crypto. Need for Identification of Legitimate Source.
Online Scam a major concern in Digitalized Bank Portfolios. Crypto based transactions are considered illegal in many countries.
Due to many reported sources and news, the crypto and bank agencies are facing a security crisis amongst online scammers. Whilst large market fluctuations post BTC halving observed huge liquidations.
I have given a thought and came to understand where the real origin of market fluctuations lie.
Crypto is a real risk in itself and for futures multiply it by the times you select leverage.
You know crypto doesn't yet have that functionality to trace the actual origin of money. What it does now is it has a #P2P inflow and outflow transaction records to dismiss legal matters.
But P2P also cannot be sure at all that bank amount inflow from P2P user they used to buy crypto is actually from the valid source and completely legal, For any legal matters, if traced the transactions, P2P may have to align/route with numerous banks and wallets before they can actually confirm the third party holding funds, & original source of the income. In many such scenarios, there is less likely the Proof of Work (POW) to earn that income be available with the wallets and banks. Which tells it cannot be all transparent.
While online flows are directed and monitored by various exchanges online. There is no certain criteria for the amount to be verified with actual work proof cross referencing with physical data, entries and records.
Crypto can be completely transparent, if it can totally replace the physical money, gold and other reserves but it's a very unlikely scenario without the strong security amongst the online platforms and exchanges.
It's a Great Future Possibility but during these times, it can only play underdog and hope all banks start to reserve crypto and launch their online currencies, which would only be the first step to complete the revolution.
The second step will be complete digitalization of currency replacing all cash.
But to be honest, Banks if involved with Crypto they might wanna know the POW of each coin and only accept such coins after identification of their real source of income, minings may not be considered for that fact but block rewards with actual POW such as in BTC may be considered upon.
Also, it's not only about crypto. It's about digitalization and transparent transactions. So,Crypto will have to understand its user sentiments and align with banks to settle a common ground ensuring its longevity and security with a completely transparent and digitalized market.
Due to fake informations, Scams and other illegal fundings, the market is highly volatile this time. Major corrections ongoinh in each coins, resulting in bearish momentum for the moment.
