90% people investing in Bitcoin either don't understand the difference between 'Money vs. Currency' or they are driven by '...
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Unlike your bank account, where you can contact a customer service agent for any emergency help or support, in bitcoin world, there exits nothing called “3rd party support”. The entire system is more like a DIY type system where you can survive only if you follow the rules as said else you can loose your entire fortune in seconds with no hope of recovery.
With these series of articles, I have tried my level best to uncover the cashless agenda behind this complex P2P distributed ledger technology as easy to understand as possible for the layman.
Although bitcoin users consider absence of a centralized governing authority as an advantage of bitcoin but yet it is a curse. When there is no authority to look after the matters and be held accountable if anything goes wrong, then only one law prevails in that case: The Jungle Law. Anything can happen, yet no one will be held answerable.
Unlike local fiat currency exchangers in your town or city which are thoroughly regulated by financial authorities and which abide by all KYC/AML policies. Currency exchanges are properly audited and the State Bank keep a firm eye on their activities. In short their exists check and balance and they provide full customer protection.
Astonishingly in crypto-world, all you need to create a digital currency exchange (DCE) company is a fancy website, social media and advertising campaign and a dev. team of no more than 2-4 people.
