Since its advent in 2009, Bitcoin has dramatic rise and fall — it reached as high as high as $60000 and fell to half that value in just a few weeks. Dogecoin had even more sharp decline. Despite the fall, the value of all cryptos was more than $1.5 trillion a year back — a mind-boggling amount for something which are just a computer code.

Should be we dealing in cryptos?

Bitcoins are cumbersome, slow and expensive to use. It takes almost 10 minutes for a transaction to go through. The transaction fees median stands at $20. Their volatility makes them unviable as a medium of exchange. It is like buying a beer using a $10 bill and next day buying a bottle of fine wine with the same bill.

Bitcoins do not shield your anonymity. The US government could track and retrieve a part of the ransom paid to hacking syndicate Dark Side in the Colonial Pipeline ransomware attack. It raises doubts about Bitcoins being immune to traceability.