As long as Bitcoin remains Decentralized, it'll always keep volatility at the highest. But if governments make it centralized then the core importance of Bitcoin will be lost. So, it's better to make some flexible laws so that the volatility can be controlled to some extent while maintaining it's decentralised factor. I think Bitcoin will soon be legalised by India also, though it's not illegal still, then public would know about it and could use it in daily transactions.
Thanks @firepower for sharing the info.
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This is why other coins have been created, so if governments move in on Bitcoin and "kill" it with centralisation, there will be plenty of others to step up and take its place.
But having the status of mother currency is a serious matter. If goverment, say for example, 'kill' bitcoin, then this will seriously affect the price of other coins as well. They can go in a steep downtrend. @leoplaw
That is assuming Bitcoin remains king of the cryptocurrencies. We cannot assume this will always be the case. That is why people diversify.
But for sometime, Bitcoin will remain the king of all the cryptocurrencies. Also it has the highest market capital as per now. Let's see what happens after this Segwit hype.
Agreed! Wait and see. HODL
Good point dude. I think this will happen soon!