According to Zebpay (One of India’s largest Bitcoin Exchnages) , there are more than 1.5 million Unique Btc users in India
Bitcoin was first introduced in India in Late 2012, since its launch in the country it has gained massive popularity in world’s second largest country, according to the latest numbers, btc users are on the rise the India. Many exchanges are operating in India including some of the major names like Zebpay, Coinsecure and UnoCoin. According to Zebpay, there are more than 1.5 million Unique bitcoin users in India doing transaction worth Billions of dollars on Annual basis, according to these numbers more than 200,000 users are being added on monthly basis to major bitcoin exchanges as world’s largest Crypto currency is gaining popularity day by day.
Zebpay co-founder Sandeep Goenka said, “Investing in bitcoin has emerged as a significant trend in the past few months. We have enabled Indians to buy an international asset in a large scale and help them contribute to increase in wealth.”
There are hundreds of startups in India working on Blockchain technology buy many entrepreneurs in India still believe that India is way behind countries like Japan and Korea where this market is booming with government support and proper regulatory frame work, now let’s discuss the most important thing in that regards “Regulatory Framework in India” , On one side Digital Asset and Blockhain Foundation of India which includes Founders of Leading Bitcoin exchanges in india demanding that Government must clarify its stance towards regulation of this asset class either as a currency or a commodity, on the other hand Reserve Bank of India in not on the same page with them, Reason?
Reason is “Lack of Expertise”
India is lacking expertise in Blockchain, government institutions are not strong enough in Blockchain expertise to guide them for a regulatory Framework. That’s why they are demanding time from authorities to make a decision about this framework in the country, actually they are waiting for other emerging countries to take initiatives so that they can find a solution pretty much similar to that.
Government will fail to regulate Bitcoin just like they were failed to regulate retail Forex Trading
Failed example of Forex Regulation
One big reason for the failure of Btc Regulation in India is that in past Government of India failed to regulate Forex Trading in India, retail Forex trading which is legal in most parts of the world is still not Legal in Indian regulatory Framework, Reserve Bank of India is very strict regarding its policies related to money outflow and that’s the reason that after more than 2 decades of retail Forex trading, it is still not legal in India and Foreign brokerages can’t operate in India. Bitcoin is somewhat on the same track because, Reserve Bank of India is still cautious about the money outflow in terms of dollars which in their opinion will weaken the India Rupee.
Bottom line of the whole matter is that although incompetency of regulatory authorities will lead to not so clear regulations of Btc in India “May be a Ban” but the thing is that popularity of Bitcoin in India don’t even care about it, Bitcoin transactions are on the rise and more users are expected to join the Bitcoin community in India which is a good sign and I we go with the core structure an concept of Bitcoin, BTC don’t even need a regulation, so even If government fails to regulate Bitcoin, it will flourish all across the country
Note: Failure of Bitcoin regulation doesn’t mean Failure of Bitcoin In India
52% of ICO’s failed in 2017
According to the data compiled by Fabric ventures and Token Data, 52% of ICO’s failed in year 2017, and only 48% of them were successful.
A Total of $5.6 billion was raised by ICO’s in 2017, making it the most beneficial year for ICO founders ever, although project success ratio has dropped.
Number of successful ICO’s in 2017 were 435 with average funding of $12.7 million
10 largest projects raised 25% of total ICO’s funding
worrying sign is that return on investment for new investors in the market is on downtrend.
Venture capital fund Fabric Ventures and cryptocurrency data provider TokenData shared the figure in their “State of the Token Market” report. 2017 saw a huge boom in companies raising money by issuing their own digital currencies, which are structured similarly to bitcoin, in return for funds to build their business. These “coins” can then be traded freely on online exchanges, offering greater liquidity to investors than traditional equity investment.
“More than $5.6 billion of capital was raised in 2017 according to the metrics used by the TokenData team,” the report says. “This compares to $1 billion of ‘traditional’ venture investing in blockchain startups in the same time frame and a ‘mere’ $240 million raised by token sales in 2016.”
Fabric Ventures and TokenData found 435 successful ICOs out of an attempted 913 last year — meaning just 48% were successful.
The average amount raised was $12.7 million but the report notes: “Collectively, the 10 largest sales raised close to $1.4 billion and roughly 25% of the total capital raised in 2017.”
Almost a third of funding went towards blockchain infrastructure projects. The biggest ICO of last year was Filecoin, a project to build a decentralized data storage solution based on the blockchain. The project raised $257 million in September.
The majority of people investing in these ICO projects have been retail or small-time investors but institutions are increasingly looking at ICOs due to their eye-catching returns.
Berlin: The Crypto Capital of Europe
When it comes to spending crypto currencies in real life, it seems that Berliners are way ahead of entire Europe in terms of usage of crypto currencies.
Guardian referred Berlin as Bitcoin capital of Europe back in 2013, and it seems like with the passage of time Berliners are getting more into crypto currencies.
Nowadays people can buy an apartment, book holidays, eat and drink in a number of trendy bars and even pay for further education using the controversial cryptocurrency Bitcoin.
One of the first universities in Germany to accept Bitcoin as a mean of payment is the European School of Management and Technology (ESMT). The ESMT Berlin EMBA is ranked highly in the world for career progress and first started accepting Bitcoin payments in December 2016.
Georg Garlichs, CFO of ESMT explains that Bitcoin is a decentralized virtual peer-to-peer currency and can now be used for all payments to ESMT. The institution also accepts Ethereum, Litecoin and Dash and many other cryptocurrencies as a form of payment. “Similar to an SMS, the digital currency enables worldwide money transfers within a few minutes without involving a bank. ESMT is an innovative and future-oriented business school,” says Garlichs.
Niels Göttsch is the owner of Leuchtstoff Kaffeebar in Berlin which introduced Bitcoin payments in 2012 and has been fascinated by cryptocurrencies for a very long time. Why? Göttsch explains the idea of having a currency that doesn’t need an authority and therefore cannot be controlled by any state or company as one reason.
“There’s no political decisions in there. The algorithm is transparent to everybody,” says Göttsch.
Göttsch explains the second reason is that nobody can control Bitcoin payments. “First it is pseudo-anonymous, it’s hard to track user data. Second is you don’t need a bank that charges random fees. It is international and can be transferred to local money in every country you are in.”
Leuchtstoff Kaffeebar also accepts Ether as a form of payment. Do many customers use the Bitcoin and Ether payment services? Göttsch says: “It was more in 2012. Now with the high fees it’s not that common anymore.”
Networking is key in the crypto scene and Berlin’s tech scene has a strong, vibrant community. Developers, anarchists, libertarians, cypherpunks and would-be entrepreneurs have all been rubbing shoulders at bars in Berlin where you can pay with Bitcoin and where everyone is open to talking about crypto.
32 Cryptocurrencies with market cap of over $1 Billion
Market cap is one of the most important indicators to know the worth of any cryptcurrency,Boom of 2017 in crypto market lead many crypto currencies to reach different milestones. One of the most important targets for any crypto currency is to reach the target of $1 billion, and that’s what happened with 32 cryptocurrencies.
According to coinmarketcap, there are 32 different cryptocurrencies with market cap of over $1 billion
Bitcoin and Ethereum leading the market cap
Bitcoin is still the most valuable crypto currency in the world with market cap of over $190 billion, followed by ethereum ($110 billion) , so both these crypto currencies hold more than $300 billion in market cap out of total $580 billion, so Bitcoin and Ethereum are leading the number game in crypto market.
Here’s the list of 32 crypto currencies with market cap of over $1 billion
- Bitcoin ($190 billion)
- Ethereum ($110 billion)
- Ripple ($50 billion)
- Bitcoin Cash ($27 billion)
- Cardano ($14 billion)
- NEO ($10 billion)
- Stellar ($9.8 billion)
- Litecoin ($9.7 billion)
- EOS ($8.1 billion)
- NEM ($7.9 billion)
- IOTA ($6.7 billion)
- Dash ($6 billion)
- Monero ($4.8 billion)
- Tron ($3.9 billion)
- Icon ($3.6 billion)
- Ethereum Classic ($3 billion)
- Qtum ($3 billion)
- BitcoinGold ($3 billion)
- Vechain ($2.8 billion)
- Lisk ($2.6 billion)
- RaiBlocks ($2.5 billion)
- Populous ($2.5 billion)
- Tether ($2.2 billion)
- OmiseGo ($1.7 billion)
- Stratus ($1.4 billion)
- Zcash ($1.3 billion)
- Steem ($1.3 billion)
- Bytecoin ($1.2 billion)
- Siacoin ($1.2 billion)
- Binance Coin ($1.2 billion)
- Bitshares ($1.1 billion)
- Verge ($1.1 billion)
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