What is the difference? - page 4. | Bitcointalksearch.org

metalglowd

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Quote from: uneng on December 09, 2019, 07:46:19 PM

Many people want to see their governments adopting crypto currency and using it to replace fiat in their daily life. If it happens futurely, it will be in a centralized way of course. Governments will create their own crypto currencies and force people use it.
But my main concern is: why would they do this if there is already digital cash?
Isn't a centralized crypto currency the same than digital cash? What is the difference, if there is any?

Share your thoughts, please.

I also think that way, maybe because they still cannot give up their rights as a whole if they implement a decentralized system, it is feared that there are certain parties who actually are behind it in secret. of course the government also does not want public data to be known by the public. Till now, no system can be fully trusted to store our data.

tenakha

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Quote from: nutriagrigia on December 10, 2019, 01:35:07 PM

for me, it doesn’t matter at all whether the government will accept cryptocurrency or not. I understand that even if this does not happen, cryptocurrency will still be a very powerful tool in the future world. just without the adoption of cryptocurrency at the state level, the price increase will take a little longer, but it will be anyway

I do not think so. The acceptance of crypto as a illegal by all governments can diminish its power a lot. Look around, the majority is not here because cryptocurrency is the new technology, but here to make easier money.

But, the positive side of this is that if governments have not banned it so far, then they are all aware about power of it.

Quote from: letyouearn on December 11, 2019, 11:59:12 AM

Ordinary digital currency is not the same as cryptocurrency. Crypto is based on blockchain, that's the main feature here. Blockchain is a new technology, which leads to many new possibilities if we talk about currency.

AFAIK, digital money is broader meaning, so cryptocurrency is like a branch separated from it. Building on a blockchain makes it different, and that means more power and confidence.

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Quote from: letyouearn on December 11, 2019, 11:59:12 AM

Ordinary digital currency is not the same as cryptocurrency. Crypto is based on blockchain, that's the main feature here. Blockchain is a new technology, which leads to many new possibilities if we talk about currency.

The difference between fiat and cryptocurrency is big because we can say that cryptocurrency is way more easier than fiat in many terms especially in payment method, we can say that it is way faster and safer than making transaction with fiat because we can say that you only need is the address of that particular shop or person. We can say that the only difference is that the blockchain technology the famous and the efficient and effective they are the more user they get and also support. Because it is their mainstream when they are proposing a project.

letyouearn

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Ordinary digital currency is not the same as cryptocurrency. Crypto is based on blockchain, that's the main feature here. Blockchain is a new technology, which leads to many new possibilities if we talk about currency.

livingfree

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They don't have to do that. They might create the same idea as crypto so that people will not look into other crypto's anymore and will start using the invention that they have.

Yes, it's true that there's already a digital cash and it's been existing for so many years in the form of credit cards and other of the same type. Crypto's are decentralized and this doesn't understand by a typical citizen that's why if the gov't intervenes and gets into this idea of creating their own. They have just to attract people to use it without even forcing it.

TheGreatPython

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Quote from: uneng on December 09, 2019, 07:46:19 PM

Many people want to see their governments adopting crypto currency and using it to replace fiat in their daily life. If it happens futurely, it will be in a centralized way of course. Governments will create their own crypto currencies and force people use it.
But my main concern is: why would they do this if there is already digital cash?
Isn't a centralized crypto currency the same than digital cash? What is the difference, if there is any?

Share your thoughts, please.

You already said it yourself that the government would prefer to create a Centralized cryptocurrency, so there is no need to ask why they don't want to use the current cryptocurrencies we have now, that's because they are decentralized and are not fit to be used as real currencies for any country. Governments are already looking into cryptocurrency and a lot of them have started creating their own cryptocurrency just like China. There are also banks that have created a prototype cryptocurrency.

As for digital currencies, There is a difference between cryptocurrency and digital cash (it's called digital currency and not cash) and I will advise you to do some research to understand it better.

Amel

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Quote from: uneng on December 09, 2019, 07:46:19 PM

Many people want to see their governments adopting crypto currency and using it to replace fiat in their daily life. If it happens futurely, it will be in a centralized way of course. Governments will create their own crypto currencies and force people use it.
But my main concern is: why would they do this if there is already digital cash?
Isn't a centralized crypto currency the same than digital cash? What is the difference, if there is any?

Share your thoughts, please.

Crypto currencies work under blockchain technology while digital currencies (not crypto) do not work with blockchain technology. The important point is the technology and the system, as we know that blockchain is the leading technology now, even many countries want to adopt this technology in various aspects and fields.
So in my opinion that's the difference, you can dig deeper on google about the blockchain.

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Quote from: uneng on December 09, 2019, 07:46:19 PM

Many people want to see their governments adopting crypto currency and using it to replace fiat in their daily life. If it happens futurely, it will be in a centralized way of course. Governments will create their own crypto currencies and force people use it.
But my main concern is: why would they do this if there is already digital cash?
Isn't a centralized crypto currency the same than digital cash? What is the difference, if there is any?

Share your thoughts, please.

There are going to be some differences but none of them are good for us, a cryptocurrency released by a government basically means that you have the combined power of a government and a bank on a single entity, and that should be very scary, they could basically do everything that they want with their money and in the case that you do something that they do not like they could block your wallet from making any transactions, so I will never use a cryptocurrency released by any government.

uneng

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Thanks for your replies. By reading your posts I see the pointed differences are:

Transparency (transactions historic)
Anonymity
Autonomy (full control of the money on each person's hands, and not at banks)
Economic sustainability (as there will be a fixed amount of coins in the system, not possible to create money out of thin air)

But remember we are talking about a centralized crypto currency. Being centralized, the government is the one who set the rules. It's not certain it will guarantee transparency, anonymity, autonomy and economic sustainability as the government can modify all these concepts as they are the developers.

Quote from: coin-investor on December 10, 2019, 11:32:15 AM

There should be a model first, a government that actually use Cryptocurrency to replace fiat, but so far we still don't have one, all are just in a planning stage, but if there's one country that successfully implemented this and all the people and it's government benefited, then we will see some countries following the model and how they are implementing it, China now has the best opportunity to do that.

Yes, there should be a model so we could see how it works on practice.
Maybe facebook currency, libra, will be a good first example to see how a centralized crypto currency works.
It's going to be launched next year.

jajorforce

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Quote from: uneng on December 09, 2019, 07:46:19 PM

Many people want to see their governments adopting crypto currency and using it to replace fiat in their daily life. If it happens futurely, it will be in a centralized way of course. Governments will create their own crypto currencies and force people use it.
But my main concern is: why would they do this if there is already digital cash?
Isn't a centralized crypto currency the same than digital cash? What is the difference, if there is any?

Share your thoughts, please.

You don't need to find different because will not create any cryptocurrency and force people to use it. Government wants to see every transaction and every funds they hold in their wallet. We just want privacy from any person that isn't possible in centralize crypto or digital cash.

nutriagrigia

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for me, it doesn’t matter at all whether the government will accept cryptocurrency or not. I understand that even if this does not happen, cryptocurrency will still be a very powerful tool in the future world. just without the adoption of cryptocurrency at the state level, the price increase will take a little longer, but it will be anyway

jacafbiz

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I think what Cryptocurrencies bring with it is transparencies unlike the digital cash. When a Government decide to print money out of thin air, then you will see it on the chain, it is just like someone trying to mine more BTC after the 21 million is now in circulation. Government don't want to lose control so they are not going to go the route of Cryptocurrencies

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Quote from: uneng on December 09, 2019, 07:46:19 PM

Many people want to see their governments adopting crypto currency and using it to replace fiat in their daily life. If it happens futurely, it will be in a centralized way of course. Governments will create their own crypto currencies and force people use it.
But my main concern is: why would they do this if there is already digital cash?
Isn't a centralized crypto currency the same than digital cash? What is the difference, if there is any?

Share your thoughts, please.

There should be a model first, a government that actually use Cryptocurrency to replace fiat, but so far we still don't have one, all are just in a planning stage, but if there's one country that successfully implemented this and all the people and it's government benefited, then we will see some countries following the model and how they are implementing it, China now has the best opportunity to do that.

SummerBliss

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Quote from: uneng on December 09, 2019, 07:46:19 PM

Many people want to see their governments adopting crypto currency and using it to replace fiat in their daily life. If it happens futurely, it will be in a centralized way of course. Governments will create their own crypto currencies and force people use it.
But my main concern is: why would they do this if there is already digital cash?
Isn't a centralized crypto currency the same than digital cash? What is the difference, if there is any?

Share your thoughts, please.

Digital Cash is somewhat slightly different. First of all it's nothing but merely creating money out of thin air. While cryptocurrencies are generally mined and all of them have a proof of work. This is a requisite of being a cryptocurrency. Moreover there is transparency and anonymity involved in transactions of digital cash. Anyone from any corner of the world can see what transactions are going on in cryptocurrencies just through the explorer but at the same time no one can actually tell who is sending money to whom. So transparency and anonymity are both going hand in hand. It's not merely decentralization that makes a cryptocurrency different.

Eclipse26

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They're kind of the same because both have value and can be used through digital. But they also differ at some point like the use of blockchain technology with cryptocurrency. if ever governments would adopt centralized crypto, I think they'll be more strict and put more regulations with regards to it than digital cash.
Now I'm also getting confused because of the question...

marcous

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Talking about digital or virtual currencies has actually been widely applied in online shopping applications (marketplace), startups and online applications such as transportation. each startup has virtual money worth Fiat. and cryptocurrency is different because it has a fluctuating price and there is no security guaranteed because it is difficult to track. actually the creators of digital currencies are inspired by crypto too I guess only the value and usefulness are different and regulated.

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We all know that cryptocurrency is full of pros and cons. In some cases, it is a little contradictory to the government so that some governments have banned the use of cryptocurrency. Even if the government wants to adopt it by making its own crypto currency, which can be fully managed by the government, it will cause another debate for crypto users, because of the shift to decentralization again, and other factors. Let the two of them, between fiat and cryptocurrency go hand in hand, there is no substitute for each other, but complement each other, to meet the increasingly high needs of modern human life.

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Quote from: uneng on December 09, 2019, 07:46:19 PM

Many people want to see their governments adopting crypto currency and using it to replace fiat in their daily life. If it happens futurely, it will be in a centralized way of course. Governments will create their own crypto currencies and force people use it.
But my main concern is: why would they do this if there is already digital cash?
Isn't a centralized crypto currency the same than digital cash? What is the difference, if there is any?

Share your thoughts, please.

What people want is we use bitcoin as payment. I not see people discuss about altcoin as payment maybe some of them yes. But there are a lot of project that allow us to deposit with ETH or BTC but still convert it to fiat. Maybe i will have question like you, because what will be different with digital fiat that already be used by people in a lot of countries.

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Quote from: duuuuude on December 10, 2019, 08:02:25 AM

Technologically cryptocurrencies are much better than the notorious electronic money but it is worth remembering that the government is not a white fluffy bunny and the government always needs control over this, few people are currently interested in creating their own state currency, it is simply not interesting to anyone.

Digital currency, as well mobile banking and online transactions are with government consent and they have power over the transactions. Unlike in cryptocurrencies it relies mainly on our transactions. It's just hard to imagined when the time comes that government will have their way to access crypto or have power over it since even it's decentralised they still have say to ban or not allowed their countrymen to use it.

Reid

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We could see that now.
They are creating their own crypto currency which is also equal to how much their currency is.
There is really no difference with that.

They are trying to imply that people are still foolish enough to bite that bait of them. I don't think so.
With the use of internet we could see through them now.
Here you are making the thread. Why? You saw thru them.

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