Why aren't cryptocurrencies successful as a medium of payment - page 25.

cryptotycoon33

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Quote from: jatoman on June 13, 2018, 12:15:25 PM

The global economy is nearly 80 trillion USD per year. Payments using any type of cryptocurrency as a medium of payment is a tiny fraction of this total.

What are some of the reasons preventing cryptocurrency from being more successful as a medium of payment?

What is preventing cryptocurrency from becoming a notable medium of exchange is the so much regulations they are giving to cryptocurrency globally. However there is massive adoption of cryptocurrency recently that even these regulations will be a thing of the past. Cryptocurrency is been use in nearly every sector of the global economy including mainly the financial sector.

OuterTech

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Tokenize Fantasy Sports

I think you are thinking pessimistic about the future of the cryptocurrency market. For the next 10 years, cryptos will become famous and become the global currency of the entire world. At that time, cryptocurrency will replace real money to become the most popular currency in the world.

jatoman

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Would you say getting governments and their regulators such as tax authorities and custom agencies to support crypto payments is a requirement before there will be widespread use?

knuckey

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the first thing that becomes a problem is the public understanding of crypto is very little and there are still many misunderstandings about crypto. the government is also not fully supportive and the banking or other financial companies are also very opposed to crypto and they think that crypto could harm and take over their business.

makladun