Personally, I think what really makes cryptocurrency stand out is the ease in transacting them. Unlike paper money, it is constant across borders and does not require exchanges to be used by people living in different countries.
Additionally, it does not hinder the capacity of market transactions as a way to build wealth. And although these may not hold up to much in this world of nationalistic economies, it does fare well in our transition towards globalization.
For these reasons, I believe that Bitcoin has the potential to overdo paper money.
Topic: Opinion competition - page 2. (Read 175 times)
I want an ability to move my money. Fast. With low fee. And I want to be in control of my funds.
This is what cryptocurrency (and bitcoin is just one of the cryptocurrencies) provides.
No one can tell me "sorry sir, it looks like we cannot send money to the bank's IBAN you provided, seems like that bank does not accept our transfers", and than after 4 hours on the phone/online, they finally manage to do it, charge me $30 more for it, and I have to wait for it to arrive next 24 hours. I use Litecoin and the transfer is instant, anywhere in the world, for less than $1
Control of your funds. Elimination of the middle man. Low fees. Blockchain provides it all.
This is what cryptocurrency (and bitcoin is just one of the cryptocurrencies) provides.
No one can tell me "sorry sir, it looks like we cannot send money to the bank's IBAN you provided, seems like that bank does not accept our transfers", and than after 4 hours on the phone/online, they finally manage to do it, charge me $30 more for it, and I have to wait for it to arrive next 24 hours. I use Litecoin and the transfer is instant, anywhere in the world, for less than $1
Control of your funds. Elimination of the middle man. Low fees. Blockchain provides it all.
Fiat currency has served its cause well but not well enough, it is time that humanity moved on from costly minting and printing too fast and efficient currency using blockchain technology. I don't know when it will happen but cryptocurrencies will take over.
Paper money is here to stay, but it will always be a worse option due to inflation.
There really is no way currently of creating decentralized paper money, so it will always be subject to trust in certain party and there will likely always be inflation.
I think that for majority of people using digital money will be easier and safer option.
They will be payed in it and hold their savings in it. And there is no reason for any other digital money to exist except Bitcoin.
Still sometimes some people might prefer to have some paper money, on long trips when their phone dies and whatnot.
There really is no way currently of creating decentralized paper money, so it will always be subject to trust in certain party and there will likely always be inflation.
I think that for majority of people using digital money will be easier and safer option.
They will be payed in it and hold their savings in it. And there is no reason for any other digital money to exist except Bitcoin.
Still sometimes some people might prefer to have some paper money, on long trips when their phone dies and whatnot.
Hello bitcointalk people, my name is Anna.
I'm a journalist from http://www.businesstimes.com.sg/ magazine.
I'm working on a special crypto currency issue that will be launched in February 2018 and I really need you. My wish is to bring into contact to polar worlds - world of crypto economics and world of old school "real money" economics.
We all are well informed of what opposite side thinks about crypto, in general it's the mistrust agenda.
But still we don't know much about your thoughts on paper and metal money. This is the grey area that I want to cover. What's is so special that attributes to money and makes them fading, how do you feel it in a private life? Or you think in future this two worlds will live side by side?
All of you are very welcome to private messages, share your thoughts with me and I promise to publish the best of it.
I'm a journalist from http://www.businesstimes.com.sg/ magazine.
I'm working on a special crypto currency issue that will be launched in February 2018 and I really need you. My wish is to bring into contact to polar worlds - world of crypto economics and world of old school "real money" economics.
We all are well informed of what opposite side thinks about crypto, in general it's the mistrust agenda.
But still we don't know much about your thoughts on paper and metal money. This is the grey area that I want to cover. What's is so special that attributes to money and makes them fading, how do you feel it in a private life? Or you think in future this two worlds will live side by side?
All of you are very welcome to private messages, share your thoughts with me and I promise to publish the best of it.
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