Topic: Digital Currency Take Over - page 20. (Read 3095 times)

You can't really put a blame on countries totally rejecting digital currency. You can't say that they are wrong, they have their own reasons. Like thinking that it will have a negative impact on them.

However, for those who chooses to go on the other path, it's not going to be easy as well so I we can't really say for sure. Maybe 5-10 years from now? But I'm happy seeing nations started to embrace bitcoin and crypto. This is really a big steps towards digital currency and the adoption that we are all been waiting for.

It is just the matter of time which will prove the worth of crypto currencies as most of the crypto currencies have a strong hold in the crypto market and that there is no way that we can deny their wroth and importance. Once most of the people will get to know about the crypto currencies, this will automatically lift up the value of the crypto coins and that paper money will be left behind then.

Of the many people/countries.. have their own background or thought in responding to anything related to digital currency/cryptocurrency, it causes not fully crypto be considered as something that can advance the country. Perhaps after more countries are reviewing all the technologies related to crypto and succeed to deepen on it.. it's likely the market will be more crowded and more people who moving in crypto including buying something and others activities. All back to the governments of each country to respond to crypto and the market is still strongly influenced by the presence of contradictions and acceptance (welcomed) over a long time forward.

Yeah, I guess that is the one reason until now bitcoin can't overtake fiat, a traditional currency will not replace or even overtake by digital currency. The advanced technology will continue be spreading as of now even poorer people will adapt on that near in the future as of now we can't conclude this thing won't gonna happens.

It's hard to predict but who knows it will happen in the future all people adopting digital currency but not eliminate paper money as a traditional currency.

For the countries that have rejected the use of cryptocurrencies before it would be very difficult to regulate cryptocurrency back. Technological developments are already evenly distributed in every country, certainly in every country there will always be users of cryptocurrency. But the regulations of each country will always be a barrier for every user, their space will be limited by the government. As an alternative if indeed every society wants a payment system using cryptocurrency then the government will create its own cryptocurrency, so as they can manage the overall use of cryptocurrency in their country.

Do you think all the people can use bitcoin? What about the poorer ones that dont have an internet and a device that can run a bitcoin wallet or can browse the web.

 how can they be able to use bitcoin? I believe experts are also aware to these problem , that is why fiats are still existed even though we are now living on a more advance world with new technologies and ideas are now invented in order to make our lives more easier when compared to before.

All things have advantages and disadvantages, even cryptos are not exempted to this fact and i guess that is why all things are created equally and well balanced , so that one must not overtake or overcome the other.

Well as you know it will be a great step to overtake fiat money as fiat money has been using since very old by people to replacing it would surely be very huge step so I think something huge take time to happen and waiting for it to be done is not a big deal at all, I really want to see bitcoin overtaking paper money because bitcoin is good for our economical condition to get better but paper money has no such chance to change it.

debit cards / credit cards / atm, can be considered as digital currency but using fiat as a medium for exchange.. this type of transaction are very rampant to any country of the world and their nothing to take over with that.. this is widely acceptable in any establishment, corporation, company and even goverment itself. NOW, if you are talking crypto currency with coin as his representation to take over the existing system of every country.. thats is imposible to happen right now. given the volatilty of the coin its risk is big.

It is every country's decision to do whatever they seem please to do but that will obviously not change the progress that we are already having with digital currencies.

I expect that over time, most countries will introduce the idea of blockchain technology into the financial sector which would make us to have the present cryptocurrency going in par with the new centralized form of currencies but I believe it would be a co-existence in the long run with nothing changing much.

Well, I think for a long time))) because many will not want to give up paper, because stealing paper is easier than pixels on the screen))).
Well, again, all the same, everyone will come to understand that the digital currency is the future, and you can already see it. In Japan, as far as I know, bitcoin can be paid. Now Russia is legalizing the crypto currency in its own country that will affect the mainstream masses. This will gradually lead to that the crypto currency will be everywhere))) _

Well digital currency and crypto currency are two different things crypto currency comes with anonymity which is a secured connection without being track what that individual purchase because it's decentralized. Digital currency is centralized, a good example is paypal, paymaya you also purchase online products with this. In some way it is a digital currency and government's can monitor and tax you.

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If you are referring to crypto currency, yes that seems to be the case, little by little we can see that cryptto currency is taking over, and it does not specifically means it is only for bitcoin, we can also see altcoin being accepted accross the globe, but it will take a long time before everybody will accept crypto currency as the only legit currency,  since there are a lot of regulations to be done, and education among the masses still needs to take place, as a community we want crypto currency to be on a fast pace, but people's adaption will take longer than that, i believe that we are just a fraction of the total global population, I think we need to become the majority, in order to really consider that crypto currency took over.

I agree with you, everything will depends on the countries regulations and how the government will accept and implement digital currency to take over. We must admit that not all people in each country has a knowledge in  digital currency because there are still community who can't afford own and use it. So I guess it will take time for this currency to take over each and every country.

Depends on what kind of digital currency you are talking on.If you do mean about national digital currencies where government do make their own token and make transition to physical to digital then its possible yet its centralized and regulated but if you do mean about cryptocurrencies then it would really be impossible to consider.We do know whats the feature and the current standing or perception towards crypto.We will able to say that this thing wont really happen when we do talk about take over.

Agree. Those countries are not believe to how can bitcoin do to they countries. They think that digital currencies is a fake system and not helpful thus, it's not safe for transactioning. But they're wrong.

Right, as the truth here is that most countries are actually seeing the blockchain technology as the future but the fact also is that, they cannot tend to admit the idea of decentralization even though they really do not have much of a choice now than to accept the idea and regulate the environment. Over time, there would be a switch to integrating the blockchain technology into the fiat system and I guess we are gradually beginning to see that.

I think the problem is just about taxation issues because like bitcoin as decentralized crypto currency it means there will be no control at all from the government and certainly no taxation system will apply as in fiat currency in general. it is possible that the crypto currency will be applied to every country if only the government is not too concerned about taxation but the question is whether it might be realized by the government because as we know a few percent of the state budget revenue is generated from the tax system.

What would be the catch anyways if we get taxes from it? Is it gonna be burden in our profits in crypto? You're pretty much going against regulation of the government in digital currency. If your local government doesn't care about cryptocurrency by not putting taxes from it, you're all pretty much treading in the dark. People will whine about scams but will government do about it if they don't care at all in the first place anyway. Government are putting up taxes due to the idea that they're protecting their people/investors.

About the time when digitals will start taking over, it is near impossible to half-possible if we put up into scale. We are yet adopting new technologies overtime, but how about the people behind us? Will they have the technology-literacy soon enough? We can't force them to learn it though. The fiat uses have been quite a practice even the ancient times through trades/barter and all sort of stuffs that exchanges something into newer thing. But manipulating that trade into technological practice might take quite a while. The beggars, do they know the blockchain? Cryptocurrency? Lightning Network (this is more of advanced but near the basic idea)? We're all still blinded or being too optimistic that digital is about to take place soon, because of our selfishness from our beliefs while we're leaving a lot of people behind.

We can't measure up the time until it happens but if I would estimate it. It would be probably "too far to be told soon". But on the brighter side there have been coins growing up in other countries already and that is yet to be considered as the first-stage or prototype stage of digital currency literacy or knowledge but again it is really "too soon" yet to conclude that we're getting there, OP. I hope you understand.