Bitcoin is Banned in some countries or there are restriction on trading, mining and converting bitcoin into local currency! Will this hamper bitcoin's growth? Also there is an erratic increase and decrease in Bitcoin price! I know its not regulated but why is it that the increase and decrease in prices is too high or too low? Are Altcoins better than Bitcoins or Bitcoin will still be number one since its the pioneer in cryptocurrencies that uses blockchain technology?
I'm a bit concern with this because our local government seems to be looking into bitcoin as well and might try to regulate it in our country!
In the Philippines, they already have regulations on Bitcoin but it's on the virtual currency exchange side. Central Bank of the Philippines already created a regulation in Circular Order number 944. In other countries, their government already acknowledge Bitcoins and other altcoins as a form of money.For me, Bitcoin is much better than other altcoins but those altcoins will challenge Bitcoin dominancy in virtual currencies.