As the digital currency was already decentralized in the global market, the tendency is that the digital currency have its value to compete with national currency. But Digital Currency cannot take over the National Currency of countries because every country have its own currency that recognized by their government authority in regional and local in revolving their economy. But digital currency is adopted as second priority in selling and trading in the market especially in Blockchain Technology which is now in demand.
Topic: Digital Currency Take Over - page 14. (Read 3110 times)
Governments are simply afraid that with the legalization of payments in cryptocurrency, they will lose control over taxes,because payments in cryptocurrency are much more difficult to track than in national currencies,the only Issuer of which is the Central Bank of the state. No wonder the national currency is the only means of payment under the Constitution of many countries.
No one knows pr predict exactly when digital currency will takes all over the world fully. Because its takes long time, now the world is moving to digital. Many countries now accept as legal and at the same time many banned the bitcoin. Some countries have planned to develop their own crypto in their country. So we have to wait for long time that entire system will change to digital currency.
Crypto will diversify our economy and hence threathing the business models of most bank. Reason why they dont wna accept it.
Till the time there was nothing like that of the crypto currencies in this world, then the thinking of the people towards the money was quite different but now with the introduction of the crypto currencies, things have been changed a lot and that now people have started thing differently as they liked this idea of the crypto currencies very much and that is the reason why the demand of the crypto coins is increasing this much higher.
As we can see now everyone/every developed nation is moving towards digital currency. In your opinion how much time is required for digital currency to take over the current/existing market or it is impossible that digitisation will never be successful. If yes what are those factors ? In my opinion those countries which are not accepting digital currency, are doing wrong. They are only thinking about the tax. They are saying that we will not get any tax and digital currencies are fake. Fraud is very easy in digital world (that is true but it also happen in every market). Although when someone is doing business in digital currency then that person is bringing money to country that is beneficial for the country...
It couldn't possibly as you though but when it becomes possible I knew and I guarantee that it will take a long long long time for crypto to take over the whole currency existing in the world. Even though technology are occuring nowadays it is hard to say that crypto could play a part of being a global currency, not even close though. Besides, government isn't still pleased to make a way for crypto to take a part of being a currency in a certain country.
Crypto will diversify our economy and hence threathing the business models of most bank. Reason why they dont wna accept it.
Till the time there was nothing like that of the crypto currencies in this world, then the thinking of the people towards the money was quite different but now with the introduction of the crypto currencies, things have been changed a lot and that now people have started thing differently as they liked this idea of the crypto currencies very much and that is the reason why the demand of the crypto coins is increasing this much higher.
i think cryptocurrency will not take over the market, because in some country, they banned cryptocurrency...
I am pretty sure that cryptocurrency just altenative way to us to do some transaction, money will last forever, i guess....
Not everybody in the whole world know about crypto and not everybody had tools they need to do so...
Well it is modern age by the way, where almost everyone is educated and they better know about the ups and down of bitcoin market, it is need of everyone life, people are in need of facilities and bitcoin is the most facilitating currency so I think gradually bitcoin is taking over the world economy, most of people knows now bitcoin as it is the most wanted currency now and people are preferring to use it than cash money.I am pretty sure that cryptocurrency just altenative way to us to do some transaction, money will last forever, i guess....
Not everybody in the whole world know about crypto and not everybody had tools they need to do so...
i think cryptocurrency will not take over the market, because in some country, they banned cryptocurrency...
I am pretty sure that cryptocurrency just altenative way to us to do some transaction, money will last forever, i guess....
Not everybody in the whole world know about crypto and not everybody had tools they need to do so...
You are right that some countries have banned crypto in the respective countries and my country is one of them. But I am sure this ban is for the time being and these countries are studying blockchain technology and when they realize the importance of blockchain and crypto they will allow their people to invest and trade in crypto but till then we will have to wait.I am pretty sure that cryptocurrency just altenative way to us to do some transaction, money will last forever, i guess....
Not everybody in the whole world know about crypto and not everybody had tools they need to do so...
Moreover, I am not sure there is any government that is totally against blockchain technology as a whole bunch of them actually see it as the future, but what a lot of them are against is the idea of decentralization that cryptocurrency brings which brought about the ban and even at that, a time will come when they will not have a choice than to mainly accept it anyway as the market keeps growing and evolving and they see they are missing great opportunities to benefit from it.
I think it needs another 10 years before most of the population transitioned to digital currencies. If only people are not poisoned by the banks or media FUD then it could only just take 2-4 years to take over.
10 years and I am sure some people will still prefer or probably may not be knowledgeable enough to accept digital age and I feel it would take more than a decade to see this happen either a centralized way or decentralized way as the case may be. People are beginning to see anyway how the banks have so much placed us all in a form of bondage when it comes to spending and I believe that is one thing the digital age has come to sort out.
Digital Currency Take Over 
I will not say that digital currency has taken over the normal regular currencies yet. However, there is no way that we can doubt this thing that the digital currencies are taking lead over the regular currencies in so many ways and that now the interest of the people is greatly changing in a way they are more interested in knowing about the crypto currencies and that they are also investing their money into different coins.Unlike fiat currency, cryptocurrency cannot be debased by any government because it's not tied to any government.
I think it will make more valuable for cryptocurrency in the future.
We can get more profit using crypto currency that making fiat as payment only, having digital currency has made a lot of countries so rich within few years, same in my counter a lot of developments has been appeared after the arrival of bitcoin, people are buying online, earning in online and trust me now in whole world, 99.3% business are being done online now so I think we really need crypto in our place. I think it will make more valuable for cryptocurrency in the future.
Crypto will diversify our economy and hence threathing the business models of most bank. Reason why they dont wna accept it.
Till the time there was nothing like that of the crypto currencies in this world, then the thinking of the people towards the money was quite different but now with the introduction of the crypto currencies, things have been changed a lot and that now people have started thing differently as they liked this idea of the crypto currencies very much and that is the reason why the demand of the crypto coins is increasing this much higher. Based on the way you just said this, I’d first like to tell you that you’re very wrong. China is a country that is well versed in technology, but still they happened to ban Bitcoin and ICOs from their country. In every country there are people who loves Bitcoin and not the country as a whole.
Bitcoin is not taking over anything, it’s just here in form of an assistance, there are even countries that don’t support the idea of using Bitcoin as a payment method. Bitcoin wasn’t made to replace anything.
I completely agree with you guy. In fact, it shows clearly that most countries do not accept bitcoin any more, they even impose a ban of using bitcoin. although bitcoin is going viral, the number of people knows about bitcoin is fewer than the ones who don’t know anything about bitcoin. Bitcoin is the demand of most parts in the world but it does not admit officially in the world. Therefore bitcoin or other cryptocurrencies do not take over the existing market.However, in the future it’s possible if people have awareness of it. Bitcoin is not taking over anything, it’s just here in form of an assistance, there are even countries that don’t support the idea of using Bitcoin as a payment method. Bitcoin wasn’t made to replace anything.
Unlike fiat currency, cryptocurrency cannot be debased by any government because it's not tied to any government.
I think it will make more valuable for cryptocurrency in the future.
The debasement of fiat currency is the biggest problem we are facing today in the economy of the world not only this creates inflation, governments are doing everything they can to hide that information and when the full effects of the inflation are in place people are not going to trust the governments to fix the problem and that is when cryptocurrencies will be adopted massively. I think it will make more valuable for cryptocurrency in the future.
As we can see now everyone/every developed nation is moving towards digital currency. In your opinion how much time is required for digital currency to take over the current/existing market or it is impossible that digitisation will never be successful. If yes what are those factors ? In my opinion those countries which are not accepting digital currency, are doing wrong. They are only thinking about the tax. They are saying that we will not get any tax and digital currencies are fake. Fraud is very easy in digital world (that is true but it also happen in every market). Although when someone is doing business in digital currency then that person is bringing money to country that is beneficial for the country...
It couldn't possibly as you though but when it becomes possible I knew and I guarantee that it will take a long long long time for crypto to take over the whole currency existing in the world. Even though technology are occuring nowadays it is hard to say that crypto could play a part of being a global currency, not even close though. Besides, government isn't still pleased to make a way for crypto to take a part of being a currency in a certain country.
Noone can be certain for sure how long it will take but I believe its here to stay. So the sooner the better
As we can see now everyone/every developed nation is moving towards digital currency. In your opinion how much time is required for digital currency to take over the current/existing market or it is impossible that digitisation will never be successful. If yes what are those factors ? In my opinion those countries which are not accepting digital currency, are doing wrong. They are only thinking about the tax. They are saying that we will not get any tax and digital currencies are fake. Fraud is very easy in digital world (that is true but it also happen in every market). Although when someone is doing business in digital currency then that person is bringing money to country that is beneficial for the country...
It couldn't possibly as you though but when it becomes possible I knew and I guarantee that it will take a long long long time for crypto to take over the whole currency existing in the world. Even though technology are occuring nowadays it is hard to say that crypto could play a part of being a global currency, not even close though. Besides, government isn't still pleased to make a way for crypto to take a part of being a currency in a certain country.
As we can see now everyone/every developed nation is moving towards digital currency. In your opinion how much time is required for digital currency to take over the current/existing market or it is impossible that digitisation will never be successful. If yes what are those factors ? In my opinion those countries which are not accepting digital currency, are doing wrong. They are only thinking about the tax. They are saying that we will not get any tax and digital currencies are fake. Fraud is very easy in digital world (that is true but it also happen in every market). Although when someone is doing business in digital currency then that person is bringing money to country that is beneficial for the country...
I think we need 10-20 years to make crypto acceptable in the world as a legitimate transaction tool. but when the development can be seen very quickly. maybe 5 years can be a pretty ideal distanceI agree we must first need the countries to accept digital currency as a legit payment or currency, it is true that it will take years before everyone will accept it, however this will mean that we will limit digital currencies that we are using, since everyone with the knowledge and capability canneasily make their own, we may need to control altcoins or accept only those who have working projects, since there are already a lot of deadcoins in the market, there is no guarantee that they will never stop creating such. I think by that time when the whole world accepted digital currency already, masternodes and staking might halt, but then again that is in the future and we can never tell what will happen and in worst case scenario, digital currency might not be even accepted.
Digital Currency Take Over
I will not say that digital currency has taken over the normal regular currencies yet. However, there is no way that we can doubt this thing that the digital currencies are taking lead over the regular currencies in so many ways and that now the interest of the people is greatly changing in a way they are more interested in knowing about the crypto currencies and that they are also investing their money into different coins.As we can see now everyone/every developed nation is moving towards digital currency. In your opinion how much time is required for digital currency to take over the current/existing market or it is impossible that digitisation will never be successful. If yes what are those factors ? In my opinion those countries which are not accepting digital currency, are doing wrong. They are only thinking about the tax. They are saying that we will not get any tax and digital currencies are fake. Fraud is very easy in digital world (that is true but it also happen in every market). Although when someone is doing business in digital currency then that person is bringing money to country that is beneficial for the country...
hahaha, I think you have a point too. Countries that do not legalize digital currencies actually make a mistake. But I do not think they didn't mean banning but it takes time to learn about the world of digital money. I think about 5- 10 years is actually enough, given the bitcoin if from 2010 to 2015 is already very rapid growth. Probably 2020 - 2025 will already be completely adopted bulk about 80 per cent more. But this is only my personal estimate, hopefully, there is doing research and provide more accurate data. Let's wait and see.Jump to: