Google gives status and convertor option for Bitcoin
Dec 22, 2017 Posted / 5673 Views
If you will simply write “Bitcoin” in the Google search bar, the very first result, which will pop up, is a currency conversion tool showing the current value of bitcoin equivalent to the Indian Rupees. Apparently, majority of people are searching for ‘Bitcoin’ at present time, which is why Google acknowledged this search trend and introduced the status and the convertor option for the most popular cryptocurrency.
A month back if you had searched for Bitcoin, you might know that the first page results included a description and the history of the cryptocurrency. However, now Google has also listed 'Bitcoin' in its currency league and it is added right between the Bhutanese ngultrum and the Bolivian boliviano. As of now other popular digital currencies like Ethereum, Ripple, and Litecoin are not featured in the Google's list and right now the seat has been only given to Bitcoin.
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Just like exchange values for the traditional currencies, using the Google convertor you can get the exchange rate of the bitcoin against any regulated currency in the world using this tool. Clicking on the 'Disclaimer' button you will find the sources of these figures. Here, you will find bitcoin in the 'Currencies' section, and that the source of the information labeled as Coinbase, which is a digital asset broker, where the price published has a delay of three minutes.
Arun Jaitley, Finance minister of India and Reserve Bank of India, which is the central bank for the country is issuing advisory to people to shun this new currency entrant but clearly people are not in the mood to listen. It is amazing to see that something, which was not heard by most of the people two years back, is now an international buzzword. Nonetheless, there is another fascinating development. The statistics provided by Google Trends depict that the number of searches for 'bitcoin investing' had overtaken the same for 'stock investing' in-between- November 26 and December 2.
Well if you are thinking that Bloomberg or Yahoo Finance are also following the Google's footsteps then you are wrong. So far, they haven't. It can be considered that these platforms are still waiting for financial regulations around the world to ease off. As of now, it is sure that by the time financial regulators around the globe determine it as legal tender and trading and transacting in bitcoins becomes a daily affair, Sundar Pichai and his team can proclaim that they did it first.
We need to realize that even if at present the price is overstated, bitcoin is never going to be essentially worthless in future. Neither will be other decentralized cryptocurrencies. Volatility and price fluctuations depict that the market is trying to figure out how much financial freedom should be given to these currencies. At present it is quite valuable in countries with domineering regimes and centric governments. Regulating and gaining control to some extent can be effectual, but the value of the currency will always remain as long as there are corrupt practices surrounding the central power models.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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