Downsides to crypto - page 16. | Bitcointalksearch.org

Rath_

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Quote from: reflector on September 03, 2018, 03:04:58 PM

Now payment side Paypal is captured the overall marketplace value buddy. I really do not want the people take bitcoin as a consideration in a mainstream payment since as of now it is decentralized platform oriented cryptocurrencies.

PayPal might be ditched quite fast because of its growing fees and ease of chargebacks. I am tired of transacting with people who are constantly chargebacking their transactions. As far as I know, sellers have to pay a fee if someone does so.

Quote from: reflector on September 03, 2018, 03:04:58 PM

You all may hear about the Ripple's adoption in the marketplace and usage on the banks side also. That is happened because it is belongs to decentralized platform.

No wonder why banks are interested in it. Ripple is centralized and that's why it can process so many transactions. Your money can be frozen anytime and you have to pay about 20 XRP for creating a new wallet, that's ridiculous.

reflector

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Quote from: Impulseboy on September 03, 2018, 12:02:52 PM

If and when cryptocurrency and/or bitcoin becomes the official currency of the world, do you think there will be a downside to it? If so, what do you think the negative effect will be once cryptocurrency becomes a worldwide currency?

Now payment side Paypal is captured the overall marketplace value buddy. I really do not want the people take bitcoin as a consideration in a mainstream payment since as of now it is decentralized platform oriented cryptocurrencies.
You all may hear about the Ripple's adoption in the marketplace and usage on the banks side also. That is happened because it is belongs to decentralized platform. If you find the centralized coins more then banks will be adopted it for sure.

ralle14

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Shuffle.com

Surely the government won't allow it to happen because they'll go bankrupt if everyone moves to Bitcoin.

Let's say the said scenario happened now, once billions of people starts using Bitcoin the network will be busy due to the millions of unconfirmed transactions and fees would go up (btc wise). The price could be a problem for some people because of the volatility, though it's expected that the price will stabilize as soon as more people are trading Bitcoin. I still think that there will be times that all of us have to spend more/less.

Quote from: Mofazzal840 on September 03, 2018, 02:22:35 PM

According to my oopinion, each country has its own economy and its currency, confirmed by a gold reserve. Digital money can’t become a single world currency, because they are decentralized in the world.

Reported for copy pasting.

First77

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Bitcoin has the value from its buyers and holders only. So bitcoin cannot be a store of value. Unless bitcoin is used in trade and commerce, bitcoin price can crash once people lose interest or panic sets in

Mofazzal840

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According to my oopinion, each country has its own economy and its currency, confirmed by a gold reserve. Digital money can’t become a single world currency, because they are decentralized in the world.

happy weblancer

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Each country has its own economy and its currency, confirmed by a gold reserve. Digital money can’t become a single world currency, because they are decentralized, i.e. aren’t controlled by anyone. But a crypto currency can remain a means of paying for some services or goods, like chips in a casino or as coupons.

Epimetheus

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Quote from: Impulseboy on September 03, 2018, 12:02:52 PM

If and when cryptocurrency and/or bitcoin becomes the official currency of the world, do you think there will be a downside to it? If so, what do you think the negative effect will be once cryptocurrency becomes a worldwide currency?

Bitcoin is good cryptocurrency and comparing to other it is the best. Its price is also higher then that of other cryptocurrency. But it has some demerit or downsides. First of all its its irregularities in its production and distribution and this is occur because of miners fault and this thing affect bitcoin price. Another thing is its volatility which is biggest reason behind investment crisis. Many investors looses their money for their. Some other down side is its involvement in criminal activities.

Impulseboy

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If and when cryptocurrency and/or bitcoin becomes the official currency of the world, do you think there will be a downside to it? If so, what do you think the negative effect will be once cryptocurrency becomes a worldwide currency?

Topic: Downsides to crypto - page 16. (Read 3324 times)