Why Digital Currencies Should Be Adopted Globally - page 2.

tbct_mt2

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Quote from: arwin100 on February 16, 2023, 05:38:51 AM

Even if bitcoin still not consider as legal tender still people can use it whatever they want as long as their government didn't ban it.

The opposite is existing and true too. Even Bitcoin is considered as legal tender in a country, there are people who use it and there are people who don't mind to use it. You can not force others do things they don't like and don't want to do.

If there is no prohibition against Bitcoin, it's fine enough to use it without fear to be put into jail. That is enough to continue expanding adoption for Bitcoin at local and global scales.

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We actually don't need bank if we decide to do so since we can store our money in our homes but we need a good vault to make it safe away from people who want to do bad things about it.

You will likely need good vaults to store your hardware wallets, your seed phrase, private key backups against physical damages like fire, water, earthquake, heat.

With Bitcoin, good practice to create your wallet, back it up, store backups safely, you control your coins and fund. You do no longer need any central banks to secure your fund and approve your transfers. You can do it all by yourself, secretly and very safely.

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arwin100

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Quote from: Mandez4real on February 16, 2023, 03:01:12 AM

I can't wait for Bitcoin and other cryptocurrencies to become widely accepted globally because this will definitely solve the challenges people are facing in some countries like Nigeria right now. With digital currency no need to depend on banks again, which will go a long way to make life better for the masses out there.

Imagine what Nigerian people are currently going through over a new monetary policy. People can't get the money they put in banks, and the masses are passing through hell at the moment. I believe Bitcoin and cryptocurrencies are what we all need to make life better.

Even if bitcoin still not consider as legal tender still people can use it whatever they want as long as their government didn't ban it. We actually don't need bank if we decide to do so since we can store our money in our homes but we need a good vault to make it safe away from people who want to do bad things about it. Maybe for now forget about those fantasies since this is long story and debate to do and just enjoy what bitcoin on what you can do about it since even if there's no global adoption we can still use it on any transaction we want to our fellow crypto users globally.

cryptoaddictchie

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I think everyone without much restriction on their country can use digital cryptocurrencies such as bitcoin. There are a lots of merchants that uses and accept crypto as payments. Of course even though its not yet globally used this will increase more as long as crypto will continue to build its adoption and promotions. Its not like its gonna replace banks. But an additional gateway for easy finance management. With blockchain tech, this can be more utilized in different industries.

Solosanz

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To be honest why many people are complaint to the banks? it seems like banks did many mistakes or terrible service to their customers. In my experience I don't have any problem with my local banks, they serve very well and let me to withdraw my money.

However since Nigerian banks not accept Bitcoin transactions, I believe only the customers who receive money related with Bitcoin are having problem, while the rest aren't. After all you can't do anything, but you have few choices if you want to cash out your Bitcoin in anonymous.

mendace

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Quote from: Mandez4real on February 16, 2023, 03:01:12 AM

I can't wait for Bitcoin and other cryptocurrencies to become widely accepted globally because this will definitely solve the challenges people are facing in some countries like Nigeria right now. With digital currency no need to depend on banks again, which will go a long way to make life better for the masses out there.

Imagine what Nigerian people are currently going through over a new monetary policy. People can't get the money they put in banks, and the masses are passing through hell at the moment. I believe Bitcoin and cryptocurrencies are what we all need to make life better.

I would say not just digital currencies, but specifically Bitcoin has the potential to truly change the fate of certain countries and their inhabitants, especially those in third-world countries where many remain unbanked. Bitcoin can provide a means to control one's savings. I believe that Bitcoin has the potential to significantly improve the lives of people worldwide, but it requires a commitment to adoption.

Charles-Tim

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Bitcoin and other cryptocurrencies are digital, no problem with online naira transactions. The problem is with the paper naira withdrawal limit and inadequate new naira in the circulation. Although, the paper naira withdrawal limit is not the cause of the recent problem, it is caused by the inadequate new naira notes in circulation.

Not a lie that we are going through hell in Nigeria right now because there are some people that do not have online means of payment, people we buy pepper, onion, tomatoes and many other things from. Many people do come from village every 4 days to sell in town, many of them do not collect bank transfer but rely on naira notes.

Pesona1

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Not only you, of course we all hope that bitcoin can be adopted and accepted globally, now many countries in the world are starting to spark to use the blockchain system in their economies which in the end are starting to create their own digital currency (CBDC), but even so, not a few countries really doubt that bitcoin and other cryptocurrencies can be a trigger to turn off fiat money and banking so that several countries prohibit the use of crypto, I don't know how the regulations are in Nigeria, but it's really better for us to wait if one day it is adopted mass will be done.

tbct_mt2

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You don't need legal tender and legally allowance to use cryptocurrencies.

Citizens are allowed to do everything that are not prohibited by laws so even if cryptocurrencies are not accepted legally, you can still use them. Only if government locally prohibit cryptocurrencies and put it into kind of crime, you will not be able to use them legally.

Legal tender is big achievement from El Salvador but you see, we don't need legal tender for Bitcoin globally to use it globally.

Cryptocurrencies are created from blockchain technology that can be used to further change the world so they will be here and become more adopted globally.

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Mandez4real

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I can't wait for Bitcoin and other cryptocurrencies to become widely accepted globally because this will definitely solve the challenges people are facing in some countries like Nigeria right now. With digital currency no need to depend on banks again, which will go a long way to make life better for the masses out there.

Imagine what Nigerian people are currently going through over a new monetary policy. People can't get the money they put in banks, and the masses are passing through hell at the moment. I believe Bitcoin and cryptocurrencies are what we all need to make life better.

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