Why the world really needs virtual currencies - page 16.

slyfox

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Quote from: Saj.Daya on August 08, 2017, 02:13:50 AM

I came across an article this morning that, to me, really shows why the world needs a virtual currency. I'm from England, and there's a saying here that goes: "When America sneezes, the rest of the world catches a cold." The article discusses the history of the Asian Financial Crisis, and how we may be heading toward something similar.

It amazes me that we have a currency that can potentially protect us (working people) from global financial crises. This is unique and incredible time in history! Grin

https://www.rt.com/op-edge/398890-financial-crisis-asia-curency/

Not only bitcoin can protect us from the side effects of misguided economic policies it can also protect us from the tyranny of governments and that is not a small thing at all.

carlfebz2

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Quote from: Trela on October 02, 2017, 03:59:10 PM

Quote from: jagmrx on October 02, 2017, 03:29:40 PM

Quote from: n0ne on October 02, 2017, 02:41:12 PM

Quote from: salihno71 on October 02, 2017, 02:19:28 PM

World has changed significantly in the last 20 years. Primarily moving whatever could be moved to the internet. Knowledge, shopping, communication, dating, etc, etc. So it makes sense that also the currency moves on the internet. One could argue that debit/credit cards are already this, but they're coming from the classical banking system.

As in the quote the growth that has happened with the help of the Internet is very big. This has made the systematic functioning of each and every sector in a much better way. If Internet connectivity gets disconnected worldwide everything will collapse big. Now our bitcoin makes it more efficient and easy to use that of the traditional banking system.

Hmm, I am not saying that, because I do not really know why the world really needs virtual currencies. But, I think virtualcurrency is important. In a simple way, it is good and give us privacy and freedom. No more taxes, no more bank, only us. The most important thing and the most simple way I think about virtualcurrencies, is that they can give us a financial freedom.

That is all I am going to say.

Bitcoin not is virtualcurrency, it is cryptocurrency and you have a wrong knowledge about cryptocurrency and virtualcurrency. If Bitcoin is virtualcurrency, it also controlled by someone as PayPal, Perfectmoney, Advcash, Neteller ... That is the difference between them.

Very well said. Cryptocurrency and Virtual currency is different in the sense that one of them cant really be controlled which is actually we can see on crpytos. If its backed by the government then it cant be considered as a decentralized thing which it would definitely belong into those traditional electronic money which is existing as of these recent years.

batang_bitcoin

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Everybody wants to get rid the services of the bank and that's why instead of choosing to put their money on the bank and earn cents from it's interest. It's better for you to be your own bank while your interest can be doubled in no time. And for the world that's now has a fast phasing of technology, virtual currencies are a good medium for faster transactions that you can do even offshore.

megynacuna

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Quote from: salihno71 on October 02, 2017, 02:19:28 PM

World has changed significantly in the last 20 years. Primarily moving whatever could be moved to the internet. Knowledge, shopping, communication, dating, etc, etc. So it makes sense that also the currency moves on the internet. One could argue that debit/credit cards are already this, but they're coming from the classical banking system.

i totally agree, there need to be a change over time and it happened with bitcoin, technology has evolved over there years in the banking and finance sector but the world really needed a virtual currency( in the sense of it being intangible) and i guess it happened with bitcoin.

_Dawid_

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You are totally right, we have finally a currency that can potentially protect us from global financial crises.
What is more, nowadays because of many hackers, virtual assault etc. people need more save way to keep their money and work safe.
And that is the main cause in my opinion.

iyan33

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Indeed bitcoin is a cryptocurrency and not a virtualcurrency and certainly has a difference in the system, and indeed the world sometimes requires this currency to service payment transactions used over the internet as well as for business purposes such as forex trading and other transactions.

Trela

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Quote from: jagmrx on October 02, 2017, 03:29:40 PM

Quote from: n0ne on October 02, 2017, 02:41:12 PM

Quote from: salihno71 on October 02, 2017, 02:19:28 PM

World has changed significantly in the last 20 years. Primarily moving whatever could be moved to the internet. Knowledge, shopping, communication, dating, etc, etc. So it makes sense that also the currency moves on the internet. One could argue that debit/credit cards are already this, but they're coming from the classical banking system.

As in the quote the growth that has happened with the help of the Internet is very big. This has made the systematic functioning of each and every sector in a much better way. If Internet connectivity gets disconnected worldwide everything will collapse big. Now our bitcoin makes it more efficient and easy to use that of the traditional banking system.

Hmm, I am not saying that, because I do not really know why the world really needs virtual currencies. But, I think virtualcurrency is important. In a simple way, it is good and give us privacy and freedom. No more taxes, no more bank, only us. The most important thing and the most simple way I think about virtualcurrencies, is that they can give us a financial freedom.

That is all I am going to say.

Bitcoin not is virtualcurrency, it is cryptocurrency and you have a wrong knowledge about cryptocurrency and virtualcurrency. If Bitcoin is virtualcurrency, it also controlled by someone as PayPal, Perfectmoney, Advcash, Neteller ... That is the difference between them.

jagmrx

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Quote from: n0ne on October 02, 2017, 02:41:12 PM

Quote from: salihno71 on October 02, 2017, 02:19:28 PM

World has changed significantly in the last 20 years. Primarily moving whatever could be moved to the internet. Knowledge, shopping, communication, dating, etc, etc. So it makes sense that also the currency moves on the internet. One could argue that debit/credit cards are already this, but they're coming from the classical banking system.

As in the quote the growth that has happened with the help of the Internet is very big. This has made the systematic functioning of each and every sector in a much better way. If Internet connectivity gets disconnected worldwide everything will collapse big. Now our bitcoin makes it more efficient and easy to use that of the traditional banking system.

Hmm, I am not saying that, because I do not really know why the world really needs virtual currencies. But, I think virtualcurrency is important. In a simple way, it is good and give us privacy and freedom. No more taxes, no more bank, only us. The most important thing and the most simple way I think about virtualcurrencies, is that they can give us a financial freedom.

That is all I am going to say.

EdenHazard

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Quote from: Prettyme on October 02, 2017, 06:55:02 AM

Our world is now conquerred with technology and everything like buying has been online even for a business transaction they use technology together with the internet. With this scenario i can say that virtual currency is a necessity for a fast transaction. And of course able for us to buy online we should have money or digital currency to buy it.

actually with technology things get better and easier to be done .

and bitcoin itself as part of an economics technology on how money should work in the future , not like today when everything are not feel like a freedom , it is regulated by certain institution , in bitcoin you don't have to do that , as you are the only one who have full control and access to your money.

n0ne

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Quote from: salihno71 on October 02, 2017, 02:19:28 PM

World has changed significantly in the last 20 years. Primarily moving whatever could be moved to the internet. Knowledge, shopping, communication, dating, etc, etc. So it makes sense that also the currency moves on the internet. One could argue that debit/credit cards are already this, but they're coming from the classical banking system.

As in the quote the growth that has happened with the help of the Internet is very big. This has made the systematic functioning of each and every sector in a much better way. If Internet connectivity gets disconnected worldwide everything will collapse big. Now our bitcoin makes it more efficient and easy to use that of the traditional banking system.

Sleekfury

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Because more and more people are starting to wonder what the bank does to our money and they do not trust the banks anymore that is why they need virtual currencies like bitcoin. Because bitcoin is something they can control themselves and no bank can reach that.

salihno71

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World has changed significantly in the last 20 years. Primarily moving whatever could be moved to the internet. Knowledge, shopping, communication, dating, etc, etc. So it makes sense that also the currency moves on the internet. One could argue that debit/credit cards are already this, but they're coming from the classical banking system.

Cocobrayy

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Because it can hold long-term promises, especially if these innovations promote faster, safer and more efficient payment systems. It will be everywhere and the world will have to adjust. Governments around the world must adapt to virtual currency. because bitcoin is a very interesting development, it will probably be the world's currency. I think over the next decade Bitcoin will grow into one of the most important ways to pay and transfer assets.

Senja Kemuning

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Quote from: romeitaly on October 02, 2017, 10:22:19 AM

For me, we need virtual currencies because as the technology is developing in other aspects, of course currencies will not be out of date and also be developing in technology. Also, this is a new and innovative way of earning and trading money and for me it is easier than the traditional way we know.

I think this is because to adjust the problem of the era, we all know that the financial problems are more complex, the use of paper money is certainly a lot of problems, for example is when transactions with large nominal of course dangerous if using paper money (robbed).

migolmigol

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Quote from: FlightyPouch on August 08, 2017, 03:15:31 AM

I also think of this and I think I can share my opinion about this one.

Since we are in a world where "virtual" is being attached, the digital world is coming into an end. As you can read and see on the newspapers and the news there are a lot of technology today that is being linked to virtual world. An example is the virtual world, I know most of us here heard of it, especially anime lovers. We are going straight into a world where we can stay at home still we can do what we are usually doing and that is how it is connected to virtual currencies.

There will come a time when people don't really hang out, but hang out online. Talk to other people, go to other places but in reality, they are at their houses. The future will really make you think and make you excited.

I agree with that, however if the only reason is virtual currency because transactions are being done virtually don't we currently doing that now? Example is when we are buying or selling online like paypal.

My point is this is not the only reason. The main reason is that it can be used as a global currency that people can transact with. Bitcoin has no based country and it can be used worldwide when accepted.

romeitaly

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For me, we need virtual currencies because as the technology is developing in other aspects, of course currencies will not be out of date and also be developing in technology. Also, this is a new and innovative way of earning and trading money and for me it is easier than the traditional way we know.

Potato Chips

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Quote from: biskitop on October 02, 2017, 07:02:58 AM

the answer is only one, because the development of increasingly sophisticated technology. in this modern age, even all the needs can be fulfilled with online shopping, and if the payment uses virtual currency too, then it will be more effective. I am sure, in the next few years, the world will use virtual currency as payment, the effects of technological developments.

you have a point but you there is a flaw in your example because you can technically pay virtually in online shops using master/visa cards, bank deposits etc. although a plus

point for cryptocurrencies for its easy wallet set up unlike those cards and bank accounts but you need them to actually purchase bitcoins so can't help it. i'm still not sure if we

need this but our situation now proves the continuous market failures that some might be solved by these cryptocurrencies but then a gain some part of me thinks that its not

perfect so it'll certainly might cause for some problems to rise.

biskitop

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the answer is only one, because the development of increasingly sophisticated technology. in this modern age, even all the needs can be fulfilled with online shopping, and if the payment uses virtual currency too, then it will be more effective. I am sure, in the next few years, the world will use virtual currency as payment, the effects of technological developments.

coinholic

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Quote from: Saj.Daya on August 08, 2017, 02:13:50 AM

I came across an article this morning that, to me, really shows why the world needs a virtual currency. I'm from England, and there's a saying here that goes: "When America sneezes, the rest of the world catches a cold." The article discusses the history of the Asian Financial Crisis, and how we may be heading toward something similar.

It amazes me that we have a currency that can potentially protect us (working people) from global financial crises. This is unique and incredible time in history! Grin

https://www.rt.com/op-edge/398890-financial-crisis-asia-curency/

I wouldn’t say the world really needs virtual currencies. I mean, even if all virtual currencies were to be wiped out, the world won’t stop operating due to fiat. Fiat has existed way way before cryptos. And it’s far fetched for it to be over throned. But it’s a good thing that fiat and cryptos could co-exist in the system which makes trading more exciting...

Prettyme

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Our world is now conquerred with technology and everything like buying has been online even for a business transaction they use technology together with the internet. With this scenario i can say that virtual currency is a necessity for a fast transaction. And of course able for us to buy online we should have money or digital currency to buy it.

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