cryptocurrencies can't be used as money???? - page 2.

NeuroticFish

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Quote from: awsan2 on September 23, 2018, 06:43:42 PM

Some people believe say that :

“Cryptocurrencies can’t be used as
money because their limited supply
makes them deflationary.”

What do you think?

It's like saying: cars are not good for transportation because their combustion engine is polluting.

Not all crypto are deflationary. First one that has no limited supply that came into my mind is Dogecoin.
Then, crypto or money are just means of transferring the value (labor hours, products, services, ...). I don't think that limited supply is such a barrier, if the limit is high enough.
People tend to believe Bitcoin is in trouble because 21M is not a huge number. But they forget that it's 2100000000000000 satoshi. Big enough now?

hdtqisg

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This time, bitcoin and altcoin are mainly used as valuable assets to exchange and invest! Crypto has not been used much as a currency!

jazz1984

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Quote from: awsan2 on September 23, 2018, 06:43:42 PM

Some people believe say that :

“Cryptocurrencies can’t be used as
money because their limited supply
makes them deflationary.”

What do you think?

In response, let them learn what unlimited supply can lead to in such a good example as the Zimbabwean dollar. By the way, not all crypto-currencies have unrestricted emissions, in general this statement looks very unreasonable ...

Kryten12

member

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TREEBLOCK

It isn't strictly true statement as there have already been a few crypto debit cards that allowed you to spend in crypto whilst the transaction was converted to Fiat for the merchant. I know of some other ecommerce websites that will accept crypto as payment and one precious metals dealer who accepts payment in Bitcoin, Ethereum or Litecoin.

It's getting there but not widespread enough at the moment for daily use.

Nicolas Bebek

member

Activity: 335

Merit: 10

Indeed if I thought, crypto is approaching on a stock or asset. instead of a currency. because for availability is very limited, and indeed could be on sale buy. This made me think so.

ankusharora1980

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IT CAN REPLACE CASH BUT SURELY IT WILL TAKE TIME NOT NOW.

Jamesdila1

member

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but still we can use crypto to fulfill our expectation. even australian airports are now accepting crypto, fifa world cup tickets also sold for btc. so i think crypto is really digital cash. it may be not fully legal. but buyer and seller can do the transactions each other

popsywura

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Cryptocurrency cannot replace money rightly because it does not have a legal backing in all countries of the world which makes it not generally acceptable as this is one of the crucial features of money.

cryptogeek101

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homt.net

Quote from: awsan2 on September 23, 2018, 06:43:42 PM

Some people believe say that :

“Cryptocurrencies can’t be used as
money because their limited supply
makes them deflationary.”

What do you think?

What is money after all? cryptocurrency is a medium of exchange which is one of the features of money, who says it cannot be used as money, what cryptocurrency needs is general acceptability which is massive adoption.

Thefrolly

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Quote from: awsan2 on September 23, 2018, 06:43:42 PM

Some people believe say that :

“Cryptocurrencies can’t be used as
money because their limited supply
makes them deflationary.”

What do you think?

I don't think this is correct, if we only had one cryptocurrency in existence then I would have agreed with this assessment but with so many coins in the market right now, safe to say that the supply of coins is endless at this point. There is enough supply for the world and as time goes on we will see even more coins being brought into the market increasing the supply of cryptocurrencies.

Mysteryla

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Well, we are all waiting for a time when it can be used as money. If you talk of money, it should be a legal tender and of crypto is not yet one. Nonetheless, it is still used for transaction.

netto7

jr. member

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some ppl think about if you want to use bitcoin it need low amount is 1btc they dont know about you can use it in satoshi.

and they see btc only have 21M that why they say it limit supply.

WalkerIVIV

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Quote from: awsan2 on September 23, 2018, 06:43:42 PM

Some people believe say that :

“Cryptocurrencies can’t be used as
money because their limited supply
makes them deflationary.”

What do you think?

Not only this and they are not enough scalable to be used as a payment system and this is the main problem when you are using crypto these guys are manipulating the crypto currency look so bad for me personally. I thought that's the main problem for me. The bankers have stated that if crypto has so many problem to replace the cash

oriontab

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Merit: 3

Quote from: Harriti on September 23, 2018, 06:47:04 PM

At first, I can say it's true at the moment because cryptocurrency isn't fully legalized in any country yet so nobody can use it as money. Beside do you think money is unlimited? LOL. Of course government can print as much as money as they want but if they do it then inflation will occur so money is also limited but it's not the same as cryptocurrency

I will they will get the irony,
it is the fact that the government can print fiats in unlimited quantities that makes it dangerous and poor application of fiats as good money. Just watch how fiats turn worthless when trust in the government fails. Bitcoin is good money.

Harriti

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HEX: Longer pays better

At first, I can say it's true at the moment because cryptocurrency isn't fully legalized in any country yet so nobody can use it as money. Beside do you think money is unlimited? LOL. Of course government can print as much as money as they want but if they do it then inflation will occur so money is also limited but it's not the same as cryptocurrency

awsan2

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Activity: 224

Merit: 2

Some people believe say that :

“Cryptocurrencies can’t be used as
money because their limited supply
makes them deflationary.”

What do you think?

Topic: cryptocurrencies can't be used as money???? - page 2. (Read 268 times)