Cryptocurrency - page 20. | Bitcointalksearch.org

Hui8

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Quote from: Johnyz on February 26, 2018, 09:38:42 AM

Quote from: Inkdatar on February 26, 2018, 08:03:05 AM

Quote from: yepaiyique2 on February 26, 2018, 07:52:02 AM

The digital currency cannot be an effective means of circulation.

It's the lack of elasticity of supply.

That creates currency instability.

It can be used by many worldwide but cannot be effective to replace as a global legal tender to replace physical money. Because other countries cryptocurrency banned by the government. Yes it could lead to lack of supply and also still physical money be used by means of payment in the future.

Cryptocurrency don’t need replace physical money cause its better on its own way, its given that fiat money will never die but this kind of technology will help us to enjoy more in the future. The supply with cryptos is not a problem, because we all know even stock market doesn’t run out of supply its a matter of demand and it will create supply.

Ok some convincing points here. I like the way you separated the crypto currency from the fiat currency. They have no similarities at all and they run in their own different principles. So you see, there is no reason for crypto to go in the banks, in national circulation or to replace the fiat currency in first place. All is vein in front of ever green crypto field.

The supply is unlimited. The coins can gain as much value as they want and apart from that they can be divided into sub tokens too. So everything is manageable in here.

Ailmand

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Quote from: Tosin12 on February 24, 2018, 05:40:35 PM

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

I think it can be a global currency, however, treating it as a global tender would still take a lot of time, and at the moment, is too far-fetched. Cryptocurrencies have not even penetrated the deeply in the trade, investment and currency exchange market for it to have such capacity to be considered as a global money. I think, it is more possible to reach a point when it can interplay with many of the currencies and be accepted as a legitimate currency rather than that to happen.

PG13

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Quote from: Tosin12 on February 24, 2018, 05:40:35 PM

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

I think it takes time before the cryptocurrency will become a mainstream as many countries are against this digital currency. Also, the volatility will be a problem if it will replace the physical money or Fiat.

jinxing

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It could happen, time will answer. Crypto cardiac is easy to secure and fast. But this time can not be made as a universal legal exchange tool. Because the country has a characteristic of fiat money. And fiat money will not change its position.

YzzyGo

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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.

wumBowo

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Quote from: Yankae on February 28, 2018, 03:01:31 AM

Quote from: Tosin12 on February 24, 2018, 05:40:35 PM

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

I think it already an universal exchange,cryptocurrencies have already value in different countries.It is already exchangable,but i don't think it can be a legal tender.Specially the word legal,governments are not yet consider cryptocurrencies as legal.Maybe someday but it will take time i guess.

i do agree with this opinion, it's just all about the matter of time anyway.

batang_bitcoin

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Quote from: Tosin12 on February 24, 2018, 05:40:35 PM

Can cryptocurrency become universal means of exchange.

It can but we have to set up our own market place which is already existing so its happening.

Quote from: Tosin12 on February 24, 2018, 05:40:35 PM

I mean can it be a global legal tender like the physical money

Yes, it can.

Yankae

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Quote from: Tosin12 on February 24, 2018, 05:40:35 PM

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

I think it already an universal exchange,cryptocurrencies have already value in different countries.It is already exchangable,but i don't think it can be a legal tender.Specially the word legal,governments are not yet consider cryptocurrencies as legal.Maybe someday but it will take time i guess.

Notcalculator

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It's hard to say for now. The current situation points that it wont be used as a legal tender or atleast in the near future. Crypto currency right now is closer to gold or stock than it is with money. And you dont see people flinging there stocks or gold to buy their items.
Additionally, it's way too valuable right now to trade like money. its price fluctuation is overwhelming. If you buy a pizza today with BTC, it could be worth a car tomorrow.

Ondre

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For me, Cryptocurrency as of the moment is playing a big and important role now in digital industry even markets. due to the fact that many people now are earning cryptocurrencies or they are paid in cryptocurrency as salary to their jobs of if it is an online job. Even now with markets, online markets accepting cryptocurrencies as payment, so we will not be surprise if one day crypto world will expand though there will still be people who does have and don't know how it is or use it. I think it would be better if they will make one curriculum in school today to introduce digital money and how it will be operated.

rowel21

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Cryptocurrency is money with wings you can send buy pay true this even a miles a way from your transaction but this currency can't replace the fiat money of very country
A country has a history and you will see that on there Fiat money
All people is need to accept that crypto currency is a kind of currency

pureclckr

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Quote from: Joyceshiroor on February 26, 2018, 06:33:54 AM

cryptocurrency 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

In this world, where things are getting changed quite rapidly and this world is evolving in so many ways, crypto currency is one of the greatest revolution this world has ever seen. This is not only the best way of keeping our money safe but it also helps us in having more money in return due to continuous increase in its market value. The demand of crypto currencies will keep on increasing in future due to its number of advantages.

fiulpro

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Cryptocurrency to become a global legal tender requires allot of governmental co-operation and approval. Different levels if community guidelines and security measures have to be followed for something like this to happen.

Proper access to internet and knowledge about how to use it shall be readily available before any such step.
Knowledge about the cryptocurrency should also be widepsread.

This might take a very long time to happen but certainly digital money is the future. Paper money will vanish one day or the other depending upon the speed of development and rate of empowerment of different countries and their governments.

Ridwan Fauzi

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Quote from: wantjokull on February 24, 2018, 11:35:37 PM

Quote from: Tosin12 on February 24, 2018, 05:40:35 PM

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

There is no problem for that to happen unless and until it gets the legal tender in every country first! Lolz! Thats the first challenging stuff I guess which we need to surpass and then we can think about the global legal tender.

Bitcoin, is still nerve wrecking for many countries and the government along with the banking institutes are unhappy that it even exist. It is taking away the investment that should be going into the banks, golds, stock exchanges etc and thus making the financial stability theoretically unstable!

The problem? The problem is with different countries and different regulations that they play within their own country. For global summit to happen it is really necessary that all the countries will come to the same page and then decide the ultimate fate for it.

Strongly agree with your opinion on this. The biggest challenge of bitcoin and altcoin become to be a global currencies is government or country. The decentralization system is very much the opposite of government regulation, because to regulate bitcoin the government needs to interfere, for example in transactions, essentially transactions in cryptocurrency mostly use peer to peer system so it only needs sender and receiver and does not need any third party.

That is the difficulty for governments to legitimize or regulate bitcoin as a means of transactions. And yeah, every country has its own rules and will be at least different from other countries it will be another big challenge. I think it is quite happy for me if all the countries legalize bitcoin as a place of investment and place of trading, if to become global currency and replace physical money I am not sure about it.

charlotte04

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Quote from: Tosin12 on February 24, 2018, 05:40:35 PM

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

Yes, maybe it will be the only thing that people will use in the future. As we see, we all now use computers.

Mevz

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Quote from: Tosin12 on February 24, 2018, 05:40:35 PM

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

I think its more ok with that. We can easily transfer/send money to the different parts of the world. But it takes more time to spread. It should be like the USA will introduce cryptocurrency to some countries and that is the time that their governments will start to study the good benefits of cryptocurrency.

Johnyz

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Quote from: Inkdatar on February 26, 2018, 08:03:05 AM

Quote from: yepaiyique2 on February 26, 2018, 07:52:02 AM

The digital currency cannot be an effective means of circulation.

It's the lack of elasticity of supply.

That creates currency instability.

It can be used by many worldwide but cannot be effective to replace as a global legal tender to replace physical money. Because other countries cryptocurrency banned by the government. Yes it could lead to lack of supply and also still physical money be used by means of payment in the future.

Cryptocurrency don’t need replace physical money cause its better on its own way, its given that fiat money will never die but this kind of technology will help us to enjoy more in the future. The supply with cryptos is not a problem, because we all know even stock market doesn’t run out of supply its a matter of demand and it will create supply.

Sebas.tian

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Not really impossible to happen but not in the whole world. Some of the country's government didn't want to allow crypto currency since it can cause some illegal problems. Illegal transactions can brought to a country through bitcoin. Several governments just want the best for their country by not tolerating illegal transactions by anonymous senders or receivers.

Janodevera

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A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation. Cryptocurrencies make it easier to transfer funds between two parties in a transaction; these transfers are facilitated through the use of public and private keys for security purposes. These fund transfers are done with minimal processing fees, allowing users to avoid the steep fees charged by most banks and financial institutions for wire transfers.

lenovo16

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Quote from: Tosin12 on February 24, 2018, 05:40:35 PM

Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money

Well its hard to say. Because no one is guarantee to happen nowadays. The technology are continue to improve and we all know that bitcoin and other crypto's are run thru online with the help of technology. And because this is the new era. It is not impossible for that to happen. All we need to do is to be prepared and adopt to the ever changing world.

Topic: Cryptocurrency - page 20. (Read 3524 times)