The potential is there but that does not mean that it is going to happen, there are too many created interests that are invested in the idea of fiat money and they are not going to let this system die that easily and even if in the future it happened they will find another way to deceive people and make them accept a system that benefits the bankers and not the people.
This is the exact reason why bitcoin will never be mainstream. It will always be a form of mutiny. It not necessarily a bad or a good thing, that of course depends on the users themself. We can already see how blockchain is being recognised by various governments, how they plan and introduce currency's of their own, centralized and under administration control. Decade from now, state issued crypto will be a quite regular thing. Early adopters and enthusiasts of today should bear in mind what and who was the first on the stage, because next generation will not care. 
Topic: Digital Currency Take Over - page 9. (Read 3050 times)
we've been into digital currency for more years.
it is what we call debit and credit card.
it is controlled by banks and its merchant. but if we need to change it we have BITCOIN on its virtual currency.
it is what we call debit and credit card.
it is controlled by banks and its merchant. but if we need to change it we have BITCOIN on its virtual currency.
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 don't really believe that digital currency can take over because fiat is very important especially for small transactions that does not need internet connection.
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...
In some countries around the world, they do not have tax laws on cryptocurrency. So, countries that want to grow in cryptocurrency, must have their own tax laws.
The potential is there but that does not mean that it is going to happen, there are too many created interests that are invested in the idea of fiat money and they are not going to let this system die that easily and even if in the future it happened they will find another way to deceive people and make them accept a system that benefits the bankers and not the people.
This is the exact reason why bitcoin will never be mainstream. It will always be a form of mutiny. It not necessarily a bad or a good thing, that of course depends on the users themself. We can already see how blockchain is being recognised by various governments, how they plan and introduce currency's of their own, centralized and under administration control. Decade from now, state issued crypto will be a quite regular thing. Early adopters and enthusiasts of today should bear in mind what and who was the first on the stage, because next generation will not care. That's the way I see it too. State issued crypto will follow the same model as this initial stage did but will be of course... state regulated! The bitcoin thing will continue to be pushed into the sidelines so that the governments can get their bearings and establish something that they have a better handle on. Then they'll track transactions and sell the data to market research firms. The perfect efficient economy! No more leakage into mattress cash or untaxed earnings
If you missed it have a look at this thread The only way that governments will successfully compete with Bitcoin.
I agree with the analysis that to make a cryptocurrency that could be better than Bitcoin governments would have to do things that they are unwilling to do.
The potential is there but that does not mean that it is going to happen, there are too many created interests that are invested in the idea of fiat money and they are not going to let this system die that easily and even if in the future it happened they will find another way to deceive people and make them accept a system that benefits the bankers and not the people.
This is the exact reason why bitcoin will never be mainstream. It will always be a form of mutiny. It not necessarily a bad or a good thing, that of course depends on the users themself. We can already see how blockchain is being recognised by various governments, how they plan and introduce currency's of their own, centralized and under administration control. Decade from now, state issued crypto will be a quite regular thing. Early adopters and enthusiasts of today should bear in mind what and who was the first on the stage, because next generation will not care. That's the way I see it too. State issued crypto will follow the same model as this initial stage did but will be of course... state regulated! The bitcoin thing will continue to be pushed into the sidelines so that the governments can get their bearings and establish something that they have a better handle on. Then they'll track transactions and sell the data to market research firms. The perfect efficient economy! No more leakage into mattress cash or untaxed earnings
Although digital currency has great potential, most of its current role comes from commercial hype, which makes the price of coins unsteady. It is impossible to replace cash with unstable coins. If your water and electricity costs are every minute. In change, how do you feel?
The things are changing rapidly. Everything could happen, therefore, the smartest way to invest in digital assets is to build a well-diversified portfolio based on your risk preference and investment goals. Such a portfolio would likely include a substantial holding in bitcoin and small exposure to promising tokens. I have found a trustworthy project. It is called Socratus. It is an insurance ecosystem which provides a digital platform for insurance companies. So any insurance company can connect the platform to become the part of Insurance Digital Ecosystem.
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 it is difficult for digital currency to take over the current market because it was not accepted and recognize to other countries. It is also not fully develop because you still can't use it as payment method anywhere and it always required internet everytime you make a transaction. A lot of development needed for bitcoin before it was recognized by all means.
Yes, the chances are really high and they can easily do this.
I think that the existence of a digital currency will benefit everyone. It's a pity, but it's not soon. Fraud is growing more and more. I hope that such projects as Menlo.one will reduce the level of fraud and bring the digital future closer.
The potential is there but that does not mean that it is going to happen, there are too many created interests that are invested in the idea of fiat money and they are not going to let this system die that easily and even if in the future it happened they will find another way to deceive people and make them accept a system that benefits the bankers and not the people.
This is the exact reason why bitcoin will never be mainstream. It will always be a form of mutiny. It not necessarily a bad or a good thing, that of course depends on the users themself. We can already see how blockchain is being recognised by various governments, how they plan and introduce currency's of their own, centralized and under administration control. Decade from now, state issued crypto will be a quite regular thing. Early adopters and enthusiasts of today should bear in mind what and who was the first on the stage, because next generation will not care. Digital currencies are a serious threat to old banking.This is the reason we see lots of fud in digital currencies market.It is not easy to replace the existing system but surely ,sooner or later ,digital currencies will take over overall economy.
There is a big potential for cryptocurrency to take ove and replace fiat money but more time for this. A lot of big people are feeling the pressure now with cryptos and they know if they don’t make a move their business will die. FUD news are also comes from those big companies they feel the threat now. No one can stop cryptos from soaring higher, in time this market will boom again.
Digital currency hasn't yet taken over because a lot of countries don't even recognize it yet but going forward, with the rate of technological advancement, digital currency can takeover the fiat currency in say a decade time
Many countries are open on using digital currency as a mode of payment within their government but with some restrictions, and most of its use is only limited and does not apply to all. Like here in philippines, there are people engage in btc, and most of them are students and young adults. However, its not recognized by business owners because they are not aware of it or maybe because they are afraid to try due to the bad news that they saw or heard from the television. Additionally, there are few countries who banned crypto exchanges within their government. Common reason is that they wanted to avoid illegal transactions or to protect the public on the risk that can be brought by other cryptos. There are few cryptos that are not legit or scam, just like the news that i saw on tv last january or feb (dont know the exact month). But on the news it says that most filipinos invested on that crypto then they found out that it was just a scam.
So on my opinion, i think digital currencies will not take over the economy. Besides, the government will not allow it to happen because it will make a lot of changes in our economic system. Digital currency is different from fiat. Digital currency will only be another form of currency (electronically) which is an alternative to fiat.
The future is that of cryptocurrency and the whole world will use only digital currency even in their local markets and as we know bitcoin is the leading crypto in the world and is acceptable to everyone, therefore people will use only bitcoin. The fiat and paper currencies will become idol and nobody will use it. Bitcoin will replace all these currencies. So on my opinion, i think digital currencies will not take over the economy. Besides, the government will not allow it to happen because it will make a lot of changes in our economic system. Digital currency is different from fiat. Digital currency will only be another form of currency (electronically) which is an alternative to fiat.
the digital currency has been recognized by most countries because it is a modern technological advance, but its function is still not approved by some countries as a means of legitimate payment transactions for fear that citizens prefer digital currency as payment transactions than the existing currency. as long as legalization can not be given by most countries then digital currency will not take over the official currency position in each country.
Yeah it is a fact the future is that of cryptocurrency and in the future it will take over the market. All other currencies will disappear from the market and only bitcoin will prevail in the whole world. The world is turning towards digital currency and bitcoin is the leading digital currency in the list. No doubt it will take long time but finally it will cover the market.
The majority still shows that fiat or the paper money still dominate the digital and the physical market because there are billion of people there that doesn't know yet the thing called "Bitcoin"
probably will not take over because some countries still ban digital currencies, but the development of digital currencies so far is very good and already known almost all over the world and many countries now use blockchain technology,I think the development of technology is difficult to be dammed so there is a chance take over but it won't be fully.
Digital currency will not take over but it will be added in the circulation like fiat as a mode of payment. Many countries now embraced the blockchain technology because of its advantage to the economy especially on financial aspect.
I agree regarding not taking over of the digital currency but would become one of the payment option because more merchants would accept cryptocurrency and more people would adopt it. It may happen suddenly but slowly, we can see that more people are getting aware of the existence of it.
The advent of digital currency is really making a buzz in the internet and into people's lives. Following satoshi's goal of making bitcoin as the medium of payment alternative to paper money, it is facing a barrier which i think is really hard for bitcoin to fulfill its goal. You know, bitcoin and crypto can't be use offline so i think that's the biggest barrier that might spoil its goal.
There would be a solution to this like how SMS is use. People would be able to use cryptocurrency without the need to use the internet but through SMS. I saw an ICO that has this goal of making it possible for people to use it without the need of accessing the internet.
There are many countries that are converting into the Digital world and the digital currencies.
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