Nowadays cryptocurrencies are being used only for investment and fund raising purposes but i am sure that they are going to be an alternative to cash money soon. There will be a total of three options for shopping payments. cash, creditcards, cryptomoney...
But in some places people are now already using bitcoin for so many other purposes. They not only using bitcoin for shopping online but also in some places people have the opportunity to use bitcoin in their local shops for shopping, they are using bitcoin even in hotel and in so many other places for different purposes. 
Topic: Cryptocurrency - page 18. (Read 3520 times)
This is not going to be. This is just a currency which is using in online by only crypto coins. There are some country which has banned the coins which are related to this system so that it can not be used at these place.
Currency will keep relation with all nation but this currency cannot beat there so that it can not be a part. People use these coins only for getting profit and only some people use it for transferring money but it is very rare.
You can get profit from this system if you can follow all rules but don’t think that it can be a legal currency system because it is almost impossible.
Currency will keep relation with all nation but this currency cannot beat there so that it can not be a part. People use these coins only for getting profit and only some people use it for transferring money but it is very rare.
You can get profit from this system if you can follow all rules but don’t think that it can be a legal currency system because it is almost impossible.
Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money
Agree, it just will take some time for people to learn about the tech as well so we can simplify the tech for the average person. Once these barriers get knocked down, I see mass adoption on the horizon.
Nowadays cryptocurrencies are being used only for investment and fund raising purposes but i am sure that they are going to be an alternative to cash money soon. There will be a total of three options for shopping payments. cash, creditcards, cryptomoney...
Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money
It can only be a territorial or nationwide means of of exchange but when we talk about universal that is pretty far from reality. It could also be a universal form of digital currency but not like the physical money because it is decentralized and governments hate it when they don't have the full control of the economy or country's assets. Some countries don't like crypto that is why it cannot be a universal legal tender and another reason is it's volatility and fees. 
Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money
It can be. If all country will unite and regulate bitcoin. And make it safer for evrery users investors traders and holders of bitcoin. And give a high penalty on bitcoin violators. 
Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money
It could be, it just needs a process that is not easy.At this time alone crypto has been banned in some countries, whatever the government wants. In fact, crypto can help countries in trouble.
This requires regulation from around the world if it wants crypto to be a legitimate means of exchange.
I agree with you, I think it could and just need a thorough process which will be a BIG task for the Government in order to be properly put it in place. I do believe that time will come, digital currency will play a major role in our economy.
Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money
Can't say at this stage. Bitcoin growing popularity and users positive response has to lead us to this discussion of making BTC as a global currency. But we need to understand the complexity of this process like:1. Govt. stand on BTC legality: Not all countries have declared BTC as a legal mode of payment. Some may consider BTC as an asset, commodity, good etc.
2. High transaction fees of Bitcoin
3. Long confirmation hours and many more
Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money
Yes it surely can but still a long way until people agree to one currency which can be accepted by everyone just like the physical money. But there is nothing like a legal tender. This is the beauty of blockchain that you don't need it to be legal to use it. Its based on mutual trust itself which is actually giving rise to such a number of currencies. Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money
Cryptocurrency such as bitcoin is now rife and has increased in the international world, but I think, cryptocurrency like Bitcoin will not completely replace the conventional currency, it's just that bitcoin will be one of the alternative currencies.
Digital Money or Cryptocurrency has value for being as valuable as money. Cryptocurrency has the properties of money that is durable, concise, exchangeable, rare, can be shared, and can be recognized based on mathematical formulas rather than based on physical form such as gold and silver or confidence in the center such as paper currency.
Crypto currency is better than currency, but that does not mean Crypto currency can replace the old currency. that bitcoin technology is a technology that can "make money move between countries easier and get costs down dramatic considerable.
Experts agree that bitcoin will not be dominant, because bitcoins are unstable to become a reliable currency. But there are also countries that have started shifting cash and developing bitcoin.
Crypto currency is better than currency, but that does not mean Crypto currency can replace the old currency. that bitcoin technology is a technology that can "make money move between countries easier and get costs down dramatic considerable.
Experts agree that bitcoin will not be dominant, because bitcoins are unstable to become a reliable currency. But there are also countries that have started shifting cash and developing bitcoin.
More important are the properties of fiat that cryptocurrencies don't share: stable store of value and widely accepted for commerce. Without, at a minimum, both of these things, crypto is useless as a currency. Without a stable store of value, you can't save or plan for the long term or have a reasonable idea past the immediate present as to how much value you're holding in the currency, which creates economic chaos. Without being widely accepted, it's as useful as trying to pay with your Diner's Club card. People know it's a thing and that it represents money, but nobody will take it as a payment method.
Perhaps, because now Cryptocurrency is very rife developed by various companies and team engineers in various parts of the world. Even Google Ventures also invests in one of the cryptographic technologies.
Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money
Agree, it just will take some time for people to learn about the tech as well so we can simplify the tech for the average person. Once these barriers get knocked down, I see mass adoption on the horizon.
Might happen. who can predict the future of a currency still hanging in beta and full of dark markets?
Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money
Yes it surely can but still a long way until people agree to one currency which can be accepted by everyone just like the physical money. But there is nothing like a legal tender. This is the beauty of blockchain that you don't need it to be legal to use it. Its based on mutual trust itself which is actually giving rise to such a number of currencies. 
Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money
Agree, it just will take some time for people to learn about the tech as well so we can simplify the tech for the average person. Once these barriers get knocked down, I see mass adoption on the horizon.
Crypto currency can never replace government currency in a country, but this can be used as a means of payment that does not have to use cash, but using digital currency.
Cryptocurrency based from its meaning a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. The goal of this guide is to teach beginners about blockchain and digital currencies. Transactions are recorded on a digital public ledger. Transactions and the ledger are encrypted using cryptography
The second comment on this post already answered everything you need to know, and the answer No. Bitcoin can’t be used as a legal tender for exchange. It can be manipulated, it can be forked and lots of other things. So the answer you seek for is No.
Currently bitcoin payment systems are being used all over the world. A simple google search can yield companies already into accepting bitcoin as a mode of payment. So it is not far out there but I have to say, it is quite slow in getting there. Especially with the high fees and slow confirmations.
How can you say this? Bitcoins are not reached everywhere. Rather this is the only one problem that we are facing now for bitcoins. Developing teams are continuously thinking and working on it but as the hurdles are so much, a lot of bans all over the world, thus this process is getting so vibrated. We can’t provide much promotion to bitcoins, but hope for the best. Jump to: