Topic: Don't believe in digital money? Well... (Read 1012 times)
How can you not believe in digital money if more and more things from our life are going digital?
-Digital books and kindles replaced library books
-Regular mail was replaced by email
-Previously, we took actual photos; now we take digital photos
-Digital music replaced cassettes and CDs.
-We switched to direct deposit from cash or checks.
How often do you actually have cash? It's rare that I do! The next item on this list is money.
Then... Buy Bitcoins.
-Regular mail was replaced by email
-Previously, we took actual photos; now we take digital photos
-Digital music replaced cassettes and CDs.
-We switched to direct deposit from cash or checks.
How often do you actually have cash? It's rare that I do! The next item on this list is money.
Then... Buy Bitcoins.
Hopefully we are able to build a future, based on the blockchain, that makes it as easily accessible for the less fortunate to hold virtual cash as it is for them to hold physical cash. We should be wary of moving too fast into a cashless society, because notes and coins give a degree of stability that is independent from the electric grid. While Covid has shown that most transactions can be carried out without cash, it was perfectly possible for most people to exist while using existing card processing networks that have no relation to cryptocurrency - they are the next logical step towards using virtual money, with currencies like Bitcoin still needing a few decades to potentially mature and build the same level of trust with the average person.
-Digital books and kindles replaced library books
-Regular mail was replaced by email
-Previously, we took actual photos; now we take digital photos
-Digital music replaced cassettes and CDs.
-We switched to direct deposit from cash or checks.
How often do you actually have cash? It's rare that I do! The next item on this list is money.
Then... Buy Bitcoins.
-Regular mail was replaced by email
-Previously, we took actual photos; now we take digital photos
-Digital music replaced cassettes and CDs.
-We switched to direct deposit from cash or checks.
How often do you actually have cash? It's rare that I do! The next item on this list is money.
Then... Buy Bitcoins.
Replaced but not banned, right? Anyone who wants can still use the other method as long as they are safe, still exist and can be made. That should also apply to money. The alternative may be needed in the future, you never can tell.
Still on the users end to choose between, and it's not debatable since we already seeing that alternatives are available
in many forms, speaking about money, digital processing are likely being updated from time to time and many alternatives
are being presented which includes Bitcoin and other cryptos.
You can't blame Bitcoin for the limitations fiat currency faces. If bitcoin is gaining more popularity it is because of it uniqueness as a digital currency. People would always the go what is easier, faster and profiting and Bitcoin indeeds meets these requirements.
And I am not in anyway implying that Bitcoin is the perfect replacement for fiat. Definitely not. Fiat has it place and advantages.
And I am not in anyway implying that Bitcoin is the perfect replacement for fiat. Definitely not. Fiat has it place and advantages.
-Digital books and kindles replaced library books
-Regular mail was replaced by email
-Previously, we took actual photos; now we take digital photos
-Digital music replaced cassettes and CDs.
-We switched to direct deposit from cash or checks.
.-Regular mail was replaced by email
-Previously, we took actual photos; now we take digital photos
-Digital music replaced cassettes and CDs.
-We switched to direct deposit from cash or checks.
When people deposit money to the bank they just give them a number, it is just an illusion and they called it digital money. Though the central bank and the govt print money by their own wish by ignoring the reserved commodity but still all banks of the world will be bankrupt if the users wanted to cash out their money at a time.
Banks know very well how to play with public sentiment, they know all people will never come to cash out money together.
Bitcoin is also digital money but Conventional Digital money and Bitcoin are not the same things. I strongly believe decentralized Bitcoin will replace the govt regulated conventional digital money.
By and large you should draw a line between digital money and cryptocurrency such as bitcoin. Digital money that is near at hand has been invented by central banks to represent tokenized fiat and being such they inherited all its cons. They trampling over facts of the need to trust to 3rd party and the lack of the real backing. So in the large run of competition with cryptocurrency one can expect downfall of the digital money. Bitcoin will remain a winner.
I agree with you to a degree. However, Bitcoin is also digital money or virtual currency as some folks will choose to call it. It's just a matter of semantics. Bitcoin will not bring about the downfall of "a country's digital money" in the long run they are going to coexist. A country might choose to adopt bitcoin as a legal tender but that doesn't mean that it's digital currency has failed if it chooses not to have one.
-Digital books and kindles replaced library books
-Regular mail was replaced by email
-Previously, we took actual photos; now we take digital photos
-Digital music replaced cassettes and CDs.
-We switched to direct deposit from cash or checks.
How often do you actually have cash? It's rare that I do! The next item on this list is money.
Then... Buy Bitcoins.
-Regular mail was replaced by email
-Previously, we took actual photos; now we take digital photos
-Digital music replaced cassettes and CDs.
-We switched to direct deposit from cash or checks.
How often do you actually have cash? It's rare that I do! The next item on this list is money.
Then... Buy Bitcoins.
Replaced but not banned, right? Anyone who wants can still use the other method as long as they are safe, still exist and can be made. That should also apply to money. The alternative may be needed in the future, you never can tell.
Buying essential needs becomes easier during this pandemic, thanks to online store apps and digital money. Crypto is also helpful, especially Bitcoin, since it is easier to convert and accepted. The crypto wallet I use actually accepted as a payment method on the online shopping app that I regularly use.
It's such a convenience. Paper money is still important and usable in my case cause it is more preferred in local stores near us.
It's such a convenience. Paper money is still important and usable in my case cause it is more preferred in local stores near us.
there are 2 types of people that is who prefer to use digital currency and also groups of people who like fiat. in my country crypto is well accepted and many people are also currently starting to learn crypto. even so there are still many people who use fiat for everyday. so it is not fully familiar with digital currency. some people say that digital currency is detrimental but I think digital and fiat currencies have their respective advantages. if we can make good use of dogital currency, of course it wil not give a loss.
-Digital books and kindles replaced library books
-Regular mail was replaced by email
-Previously, we took actual photos; now we take digital photos
-Digital music replaced cassettes and CDs.
-We switched to direct deposit from cash or checks.
How often do you actually have cash? It's rare that I do! The next item on this list is money.
Then... Buy Bitcoins.
-Regular mail was replaced by email
-Previously, we took actual photos; now we take digital photos
-Digital music replaced cassettes and CDs.
-We switched to direct deposit from cash or checks.
How often do you actually have cash? It's rare that I do! The next item on this list is money.
Then... Buy Bitcoins.
Bitcoin payment is very conveniet for us but not everyone knows about it. A lot of people doesnt have any idea what bitcoin is and not everyone have an access and have a smart phone to use and money to invest with bitcoin.
Paper money wasn't replaced by digital ones yet just because it's more convenient for criminal transactions and there are a lot of people who rely on this kind of activity for a living. Paper money doesn't left any traces, while digital currencies are totally trackable by the police. For that reason I think it will still take a long time until paper money disappears, although it could have already disappeared since digital money fully replaces its function with advantages, including the fact we can control diseases proliferation more efficiently only by using crypto currency or debit/credit cards, as paper money goes into everyone's hands.
It was very convenient to use a digital currency like Bitcoin for payment but the problem is that it was not yet accepted by our local establishments that still give us no choice but to still fiat money. yeah, it could several decades to wait until it is fully accepted, something like I/we miss that opportunity. But this is not a reason why we don't invest in them if we are not able to use them for payment, buying stuff these days, might be our children could enjoy it in the future.
Talking about digital money is not only focused on Bitcoin digital currency or cryptocurrency. Even Fiat is currently available in digital form.
Currently, it has become a digital era and most transactions are already using digital.
Some people who do not believe in digital money such as Bitcoin and other altcoins, are those who do not understand and understand how the advantages and disadvantages are.
Fiat and bitcoin or cryptocurrency will remain side by side. In this digital era, transactions will be very easy to do, just choose what you want to use.
Currently, it has become a digital era and most transactions are already using digital.
Some people who do not believe in digital money such as Bitcoin and other altcoins, are those who do not understand and understand how the advantages and disadvantages are.
Fiat and bitcoin or cryptocurrency will remain side by side. In this digital era, transactions will be very easy to do, just choose what you want to use.
Paper money wasn't replaced by digital ones yet just because it's more convenient for criminal transactions and there are a lot of people who rely on this kind of activity for a living. Paper money doesn't left any traces, while digital currencies are totally trackable by the police. For that reason I think it will still take a long time until paper money disappears, although it could have already disappeared since digital money fully replaces its function with advantages, including the fact we can control diseases proliferation more efficiently only by using crypto currency or debit/credit cards, as paper money goes into everyone's hands.
It was very convenient to use a digital currency like Bitcoin for payment but the problem is that it was not yet accepted by our local establishments that still give us no choice but to still fiat money. yeah, it could several decades to wait until it is fully accepted, something like I/we miss that opportunity. But this is not a reason why we don't invest in them if we are not able to use them for payment, buying stuff these days, might be our children could enjoy it in the future.
Bitcoin cannot fully replace fiat, also, the items you mentioned are different and have a different nature from money. So, you can not fully place bitcoin on that same scale. People have always know fiat and will always want to use it. Have you thought of the disadvantages of crypto? Like the fact that you cannot access your funds without power(electricity)? Imagine if your phone powered off when you needed to make a payment. IMO, no matter the adoption, people will always still use fiat for most payment.
Bitcoin does provide many benefits for its users, even transactions with Bitcoin do not need to go through third parties such as fiat. But that doesn't
mean Bitcoin can replace fiat, I agree there are still many places that have not been reached by internet and electricity networks. So Bitcoin cannot be
used where there is no electricity and internet, while fiat can be used anywhere. After all, Bitcoin was created not to replace fiat, but as
a payment alternative. So it would be ideal if Bitcoin and fiat co-exist, this will make it easier for many people to make financial transactions.
Bitcoin cannot fully replace fiat, also, the items you mentioned are different and have a different nature from money. So, you can not fully place bitcoin on that same scale. People have always know fiat and will always want to use it. Have you thought of the disadvantages of crypto? Like the fact that you cannot access your funds without power(electricity)? Imagine if your phone powered off when you needed to make a payment. IMO, no matter the adoption, people will always still use fiat for most payment.
Paper money wasn't replaced by digital ones yet just because it's more convenient for criminal transactions and there are a lot of people who rely on this kind of activity for a living. Paper money doesn't left any traces, while digital currencies are totally trackable by the police. For that reason I think it will still take a long time until paper money disappears, although it could have already disappeared since digital money fully replaces its function with advantages, including the fact we can control diseases proliferation more efficiently only by using crypto currency or debit/credit cards, as paper money goes into everyone's hands.
There are many advantages to use digital money transactions than cash money, but not all countries in the world have started to using it due to government restriction . Hopefully, soon we will be able to use digital money directly all over the world.
Everything needs a process to convince the wider community of this digital money, for now not many are able to accept it.
But over time, everything will be digital and the means of payment will be, at that time no one will doubt the digital currency Bitcoin.
But over time, everything will be digital and the means of payment will be, at that time no one will doubt the digital currency Bitcoin.
Most of the people are not understanding the importance of crypto currency. In this digital world, digital payment method will be used, it is common. We have to follow the trends. If someone don't value at crypto currency then just ignore him/her. He/she will understand the value of it in right time but nothing to be done then.
I would say people understood the worth of cryptocurrency but a little bit too late because now the price is soaring and it's hard for an average person to buy 1 bitcoin.as time goes by, people will follow about technology, it will grow slowly, and spread from one thing to the other. people already know about digital money and they use it everyday to pay bill or the other. crypto, is different story because people wont think that bitcoin is digital money but asset.
Right because digital money usually means controlled by banks and it's not much different from cash but crypto is a different concept and because of the decentralized and deflationary nature, the price will soar even higher. Plus, the reason why digitalization is rapid in large countries as compared to growing nations. Some countries don't have the right setup for digital payments and hence cash is the dominant payment mode.
Personally I strongly believe in digital money, as I feel more comfortable trusting technology than people and banks. It is attractive for me that nobody can ban my transactions and I can send as much money as I want without reports about where I got the money from. Unfortunately, crypto is quite rare in my country, but I know that in some countries you can pay in crypto, so I hope that it will sweep the globe one day.
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