Comparison of virtual currencies and peppy currencies
Peppy currencies are real and warm, virtual currencies are cold
Volume of virtual currencies is almost negligible in front of peppy currencies
How many of us use virtual currencies. I think none of us. Most of us use the real currencies. The currencies that are real and peppy. These currencies have their own warmth and importance. A currency changes a lot of hands every day but still it is dear to all. Everyone needs it. Everyone spends it. That is the energy of peppy currency. When it comes we love it. When it goes, it brings something else in lieu of it. In any case it gives us happiness and satisfaction. Money travels a lot during a day. It changes many hands and undergoes voluminous transactions. There are two kind of transactions mostly that take place when we talk of currency or money. One, when you have to buy a product or a service, you pay money and you get what you desire. Second, you give it to someone without any tangible return against it. That is called charity. Mostly it is former that takes place in our everyday life.
Photo credit: CoinDesk via Visual hunt / CC BY-NC-ND
An ocean of virtual currency is also there into existence. Who operates it and who governs it is something which is not very clear to most of us. The virtual currency probably exists in the virtual world. That is not so. There are transactions that happen on virtual currency. The people owning virtual currency are far less in proportion as compared to the people possessing peppy currency. It seems probable the virtual currency is overhyped just because of nothing. The EU (European Union) said recently that there is a need to monitor the virtual currency but thinking of its regulation is too early. The virtual currency is too little in use as compared to the peppy currency. There is a fear reportedly stated by the EU about the risks of virtual currency, the major being money laundering.
There are about 600 virtual currencies floating all around the world. All these currencies float in a minuscule proportion except bitcoin that has captured the major stake. Bitcoin has captured more than 90% of the total virtual currencies reign. The total virtual currency sector amounts close to $10 billion. If we compare it with the daily turnover of real or peppy currency it amounts to more than $5 trillion, all currencies together, transacted in the exchange markets worldwide.
Virtual currencies have no real existence. They are transacted online and there is no backing by any bank to it. Can we say the virtual currencies are still in an experimental phase? Are you and me confident enough to transact in virtual currencies? With no backing at all and no governing agency where is the protection and risk mitigation for virtual currencies. After all, nothing can beat the real and peppy currencies that give power and energy to the whole world.
This blog post is inspired by the blogging marathon hosted on IndiBlogger for the launch of the #Fantastico Zica from Tata Motors. You can apply for a test drive of the hatchback Zica today.
