Bitcoin trading is still illegal in Nepal. It will certainly take longer time for Nepal Government to learn about blockchain as decision makers are mostly from “baby boomers” generation – who are still not able to even fix postal system. Therefore, we advise current generation to take a leap forward in Nepal by cancelling the factor of worthless government from the equation of blockchain development.
Even though bitcoin trading is illegal, the nature of bitcoin is peer to peer and markets like paxful and localbitcoins do exist for Nepali traders. We are 6 months past from 3rd halving of bitcoin (May 2020) when price was around $8k. If we compare how price moves for bitcoin after every halving, the scarcity kicks in and bitcoin taps new market. In 2020, we are seeing similar after-effects. Corporate companies are holding bitcoin instead of cash (USD), more companies like Grayscale, Square and PayPal are now driving the mass adoption.
On top of this, there are now hundreds and hundreds of applications built around bitcoin and blockchain. There is nothing like this happened before for any assets; there are not even handful of application for gold. As we are moving forward with big companies on-boarding and most of the brilliant minds developing utility values upon it, there should be no doubt at all in whether you should jump into bitcoin or not. It’s early phase of blockchain; it has been just 12 years of bitcoin history but it’s the time – it’s definitely the best time to join this decentralized movement.
Within few days from now, US will get its 46th president. Whoever gets elected, there will be a huge task of solving COVID impacted US and direct every countries of world into prosperous future. That means there will be big stimulus and greater than ever cash flow into the system. Before it gets better and before COVID becomes something like common cold, we might have to go through hard winters of inflation and economic depression. And this is exactly why bitcoin was created to solve.
We want Nepali people to stay up to date with the world. Don’t get behind in bitcoin because government does not understand it. Learn bitcoin, learn blockchain, learn ethereum, learn DeFi.