Digital Currency Take Over - page 23.

whirlcoin

full member

Activity: 602

Merit: 111

Quote from: mwaqar17 on May 08, 2018, 04:49:04 PM

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...

The growth of crypto currencies are rapid in the rencent years,still bitcoin the first crypto currency made not yet complete a decade but it made huge reputation among the developed and developing nations.But still we are in early stage we need atleast 10 mote years to reach good adoption rate.
Yes many countries are opposing the crypto currencies because it will cause economical crisis in the governments so they will mever support the crypto currency.

Name: Claudio

newbie

Activity: 98

Merit: 0

Crypto currency is like a aid to Fiat and it is better if they can work together in harmony, but I do hope also a cashless society in the future, but for the meantime working this two is a good point.

Supercrypt

legendary

Activity: 1554

Merit: 1054

Quote from: Tenderino on May 08, 2018, 06:47:11 PM

Can you also give sources for your claim? Because this is the first time I hear everyone / every developed nation is moving towards digital currency and I still can not pay my monthly rent with it. Why I can not pay my rent if every developed country is moving towards? I do not think the governments are against crypto currencies because of the tax problem. The problem that they can not finance their state budgets with a decentralized and fair digital money is unlike bigger for them than generating possibly less tax revenue.

The fact that we are tending towards the digital age does not mean you will expect everything to turn out rapid. However, it is obvious that the foot prints are gradually beginning to be there. You may not have much to say for your countries, but a lot of countries like Australia and Japan are doing their best to keep the world of cryptocurrency running with a lot of opportunities they are gaining from it.

We cannot expect government to just accept it as a currency and even at that, it is also becoming apparent that even though government will be switching to digital currency, it would be for them creating their own centralized digital currency.

vahidzeal

newbie

Activity: 14

Merit: 0

Digital currency has its own role to play in the market i see it as another platform of technology were anyone can invest. there has being many form of product in the market but they never take over. but to make profit for investors. the speculation for crytocurrency is high and most people are still getting to know it. after scaling it they discover it also easier to make huge profit from it. so investors are lining up for a better product and cryptocurrency happend to be one of the product

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: mwaqar17 on May 08, 2018, 04:49:04 PM

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...

Hard to say how much time is needed if digital currency will take over the current market. There are nation who is not fully developed like certain countries in Africa or even in Asia, so it will take a lot of time to even acknowledge digital currencies in those countries. But if we are taking about some European country, there are a lot of them experimenting cashless society so the rate of adoption must be pretty quick.

Dancobit

jr. member

Activity: 118

Merit: 1

Quote from: boyptc on May 08, 2018, 06:46:21 PM

Quote from: mwaqar17 on May 08, 2018, 04:49:04 PM

In your opinion how much time is required for digital currency to take over the current/existing market

No one will know on how much it needs for digital currency to take over the existing market.

Quote from: mwaqar17 on May 08, 2018, 04:49:04 PM

~~it is impossible that~~ digitisation will never be successful.

I'll rephrase it.
Digital currencies now are in success so what makes you think it won't?

most digital currencies can be broken down into parts. You can use and trade in small quantities.
buyers who want certain currencies and sellers who own the currency. I do not specify the price of Bitcoin or any digital currency

airdagon

member

Activity: 546

Merit: 17

I do not know whether the digital currency will take over finance, world banking or not. but I see information that some countries that ban digital currencies like bitcoin are now starting to plan their own digital currencies, I myself do not know about this situation, hopefully this will change the world's finances better.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: mwaqar17 on May 08, 2018, 04:49:04 PM

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 depends on what you mean? If you mean digital money like credit cards then it depends on the country, there are many countries in which most of the payments are already done in digital form and you need a credit or debit card to receive it, but there are also many countries in which the population prefers to use cash, we must also understand the limits digital currencies have, for example there are many poor people that cannot make use of services like that and so full adoption is not possible.

hugeblack

legendary

Activity: 2646

Merit: 3911

The situation remains ambiguous about digital currencies. Many countries believe in the Blockchain technology, but the decentralization of digital currencies may weaken the authority of the states.
There are more than 1,000 digital currencies, although most are not needed, the number is increasing every day.
The need to regulate this market is healthy to avoid scam, but as I said, these currencies are decentralized.

Quote from: mwaqar17 on May 08, 2018, 04:49:04 PM

Although when someone is doing business in digital currency then that person is bringing money to country that is beneficial for the country...

Yes, its benefits are more than its disadvantages

Tenderino

full member

Activity: 336

Merit: 103

Can you also give sources for your claim? Because this is the first time I hear everyone / every developed nation is moving towards digital currency and I still can not pay my monthly rent with it. Why I can not pay my rent if every developed country is moving towards? I do not think the governments are against crypto currencies because of the tax problem. The problem that they can not finance their state budgets with a decentralized and fair digital money is unlike bigger for them than generating possibly less tax revenue.

boyptc

hero member

Activity: 3024

Merit: 680

★Bitvest.io★ Play Plinko or Invest!

Quote from: mwaqar17 on May 08, 2018, 04:49:04 PM

In your opinion how much time is required for digital currency to take over the current/existing market

No one will know on how much it needs for digital currency to take over the existing market.

Quote from: mwaqar17 on May 08, 2018, 04:49:04 PM

~~it is impossible that~~ digitisation will never be successful.

I'll rephrase it.
Digital currencies now are in success so what makes you think it won't?

mwaqar17

member

Activity: 462

Merit: 14

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...

Topic: Digital Currency Take Over - page 23. (Read 3095 times)