Why the world really needs virtual currencies - page 20.

millionaireshs

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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/

As we all know, we are in the 21st century or digital age. we are more exposed to technology today and it seems like it is very important part of our lives. Everything is being involve in every advancement. Therefore our currency be involve also.

hellen xaveria

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Quote from: farhaan on August 10, 2017, 05:43:14 AM

USD has been enjoying the position as global reserve currency for the past seventy years.Every thing is internationally traded in USD.Most countries are having USD as their national reserve currency.So,whenever there is a change in USD price,it immediately affects the world economy as well as most of countries economy.So,china,russia,iran had been already searching for another currency instead of USD.Now,bitcoin has given a way to use it instead of USD.By this way,the dominance of USD will come o an end and no country would get affected by changes in USD.

that the rise and fall of the bitcoin price will not affect the economy of a country and its impact will not be felt, in contrast to the rise and fall of the USD it will be directly and visibly impact on the state of a country's economy

Funeral Wreaths

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to say it honestly, people are already moving forward to the future, and how the people imagine the future is a bit fascinating, and in order for us to keep up, basic needs should also be upgraded and that is why the main reason why it is created.

okala

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Nice article and the virtual currency may be the best solution as many people find it easy to use virtual currency than others form of money. Bitcoin as a form of virtual coins is doing good now and many of the similar cryptocurrency as the reason why we are having financial crisis today and inflation is because of Fiat currencies. The third world countries should go full into Bitcoin in other to break the hold of dollars on their econom.

doomloop

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Quote from: gabZ25 on September 07, 2017, 06:33:33 AM

We need virtial currencies because it can be used worldwide. It was easy to use , it can be used such us in paying bills specially in online transactions .

You are right today we are living in the world of the technology and the modern era so a lot of new thing are being invented and bitcoin and the virtual currency is one of them bitcoin is no doubt born to serve the humanity and to fulfill the needs of the people can help each other now even when they are far away and it is possible only in the case of using the virtual currency so it is the reason why people use virtual currency now.

d1ceplayer

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Quote from: yndye on September 06, 2017, 10:14:20 PM

Quote from: franco123 on September 06, 2017, 09:49:26 PM

It is actually not a need, but it is an option for other transaction. It is just a way of adapting into the digital world we have. It is a good option also for an investment just like forex, but of course you have to manage it and be able to minimize the risk. However, in todays time, it is not actually a need because we are now using digital payments even through our actual currencies in our country. We have the debit and credit cards that transacrs digitally.

But then even if the debit and credit card is digital, it is still base on fiat currencies which is inflationary that's why there is a need for a currency that is deflationary and decentralized to protect the system from being manipulated. Bitcoin was created after the 2008 financial crisis and I believe the purpose of Satoshi Nakamoto for creating it is to avoid the financial crisis from happening again by having a currency that is not easily created and limited in value to avoid inflation and devaluation.

World really needs virtual currencies as their demand is increasing day by day as the world is digitizing. Modern era is going to be digital era soon; every little thing from sale purchase to larger business dealings will be digitized and automated where there will be no need of carrying your wallet, physical currency or cheque book with you for sale, purchase or trading. It will be the most secured currency that is encrypted.

Wingo

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This is why we really need bitcoin, it secures everyone from the fall of the fiat currency. The digital currencies aren't just moved by one region of the world but is dependent on everyone who uses it. Time will come when economic crisis will again hit us, and bitcoin can greatly help us.

darthmaul

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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/

Hm, the crisis is main thing but really wondering how crypto currency can tackle the problem. I can understand about other physical assets such as gold for instance which can store the money in bad times as it did in world war. Bitcoin would not be realistic approach as it is not sufficient to feed the hunger of every nation and neither its value will stay similar in the future. There might just be dumping of the bitcoin in future if war, crisis, recession or something similar event is announced because people knows that internet wouldn't stay awake in that situation. So the way would be to sell these coins and get fiat converted to more physical form.

Quidat

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Quote from: gabmen on September 08, 2017, 07:01:56 AM

Quote from: pikebu on September 08, 2017, 01:52:31 AM

Quote from: @prashant on September 07, 2017, 05:33:38 AM

Quote from: pikebu on September 07, 2017, 04:39:06 AM

I think the world needs virtual currencies especially bitcoins due to the system of economy right now is failure, system of fiat currency can not protect us from inflation, our system economy right now can not protect us from crisis condition, it is too old to be runned for couples decades later, so must there are new innovations on our economy system and the answer is only virtual currencies to fix all of this weakness.

At least fiat is stable and kindly do not take bitcoin as digital currency just like other are ,its a virtual investment asset and its most profitable than from forex or other investment markets.we need digital currency because of two thing,first speed and second accuracy.

Yea fiat money is stable with losing values on fiat due to inflation, it is broke system our economy and must be revoluted,
the bitcoins has many advantages than fiat money, this system deflation in bitcoins gives us protecting economy condition
to become more better and the world really needs virtual currencies due to it is more better than fiat currencies.

Well we can say everything negative about fiat but at the end of the day, it's still necessary to have it since running exclusively on digital currency, no matter how advantageous it is, has its downsides that will cripple its users if there's no back up.

I dont know why people are trying to say negative things on fiat itself since they are being using it since in the beginning. Technology do evolves as the years goes by and this digital currencies would really be created for its sole purpose but talking about decentralized aspects then i would say its impossible for it to be adopted and considered by most governments in the world.If they would tend to create e-currency then its possible but they wont still leave fiat.

gribble

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On era of internet right now the world really needs virtual currencies because it be used for activity daily on internet, we can shop online be paid use virtual currencies, we can play gaming can pay use virtual currencies, virtual currencies are more simple, easy to be used, transparant, fast than fiat currencies. With virtual currencies no needed currency exchange processing.

wowanstrong

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Virtual anonymous currencies help to make more people and feel free from the constant control of the state. They can also grow despite a bad economic situation.

gabmen

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Quote from: pikebu on September 08, 2017, 01:52:31 AM

Quote from: @prashant on September 07, 2017, 05:33:38 AM

Quote from: pikebu on September 07, 2017, 04:39:06 AM

I think the world needs virtual currencies especially bitcoins due to the system of economy right now is failure, system of fiat currency can not protect us from inflation, our system economy right now can not protect us from crisis condition, it is too old to be runned for couples decades later, so must there are new innovations on our economy system and the answer is only virtual currencies to fix all of this weakness.

At least fiat is stable and kindly do not take bitcoin as digital currency just like other are ,its a virtual investment asset and its most profitable than from forex or other investment markets.we need digital currency because of two thing,first speed and second accuracy.

Yea fiat money is stable with losing values on fiat due to inflation, it is broke system our economy and must be revoluted,
the bitcoins has many advantages than fiat money, this system deflation in bitcoins gives us protecting economy condition
to become more better and the world really needs virtual currencies due to it is more better than fiat currencies.

Well we can say everything negative about fiat but at the end of the day, it's still necessary to have it since running exclusively on digital currency, no matter how advantageous it is, has its downsides that will cripple its users if there's no back up.

pikebu

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Quote from: @prashant on September 07, 2017, 05:33:38 AM

Quote from: pikebu on September 07, 2017, 04:39:06 AM

I think the world needs virtual currencies especially bitcoins due to the system of economy right now is failure, system of fiat currency can not protect us from inflation, our system economy right now can not protect us from crisis condition, it is too old to be runned for couples decades later, so must there are new innovations on our economy system and the answer is only virtual currencies to fix all of this weakness.

At least fiat is stable and kindly do not take bitcoin as digital currency just like other are ,its a virtual investment asset and its most profitable than from forex or other investment markets.we need digital currency because of two thing,first speed and second accuracy.

Yea fiat money is stable with losing values on fiat due to inflation, it is broke system our economy and must be revoluted,
the bitcoins has many advantages than fiat money, this system deflation in bitcoins gives us protecting economy condition
to become more better and the world really needs virtual currencies due to it is more better than fiat currencies.

ArrogantPeacock

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there is so much potential with crypto's

things might be slow now but the concept will catch up

older people who missed out in "technology" and never learned the benefits of having a computer will eventually die

and be replaced by the younger generation who is more technologically literate and can better grasp the concept of crypto's

usage and activity will rise, and crypto will become a norm

gabZ25

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We need virtial currencies because it can be used worldwide. It was easy to use , it can be used such us in paying bills specially in online transactions .

CraigWrightBTC

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Quote from: Casabrandy on September 07, 2017, 04:03:32 AM

Quote from: CraigWrightBTC on September 07, 2017, 03:41:42 AM

The world really needs virtual currencies because, virtual currencies are decentralized, transparant than fiat currencies, there are no regulator needed for virtual currencies. The virtual currencies are new model revolution in currencies, they are more fair than fiat currencies and virtual currencies are new technology in internet, it must be adopted by all of the people for system of economy more better in the future.

wherein a technology era which everyting and transactions made thru online. So in way for payments. Having virtual currencies will be a big help and convenient for every users. Virtual currencies plau important role on making technology more effective.

Yes virtual currencies (bitcoins) can be used for payment method on the internet especially for online payment for now, this technology had made the currency world be more fast and easy to be used just by smartphone. Virtual currencies also can be considered as new digital asset depend on the purpose of digital coins from the developer of team, on era of internet we can put our whealty on internet.

Barbut

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Quote from: Doms on September 07, 2017, 05:53:41 AM

Digitalization is where we are all headed and even if we might not get to live until the day where everything is digital, I think it is inevitable. The changing needs of man have turned in a lot of new discoveries. Bitcoin and other digital currencies might not be necessary now, but in the future, today's wants might be tomorrow's needs. And if you can accumulate as much bitcoin right now, good for you and the next generations that will come after you.

Why just bitcoin? After watching a movie https://bitcointalksearch.org/topic/m.21153900 I understand how much important is diversity. There can`t be one man in all world, and just one plant, nothing is one and one can`t do much alone. Current monetary system is made rich people to be richer, virtual currencies gives back the power to individuals and groups outside that system.
Like nature have different ecosystems thats what kind of economy we should have around the world, and with crypto currencies now its possible all people to be connected. Every town and village can have their own altcoin and work for it or use it, but in any time you will be able to buy what ever you wish with your altcoin or exchange it for other crypto.

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Quote from: ankylotic on September 07, 2017, 05:40:23 AM

Quote from: zekeshawn on September 06, 2017, 11:52:05 PM

The world needs virtual currencies because we are now living in a kind of world that uses the technology all the time so virtual currencies is more convenient and easy to use for us.

i think after every few years change is needed.
we have seen the access of technology all around the world and there is huge change is 21st century other than 20th century. i think virtual currency is another way of currency and people will adopt it in near future as time passes.

It will not become near future, because it is already starting right now and as soon as possible we can see the results of that adoption just after a few months because we already know that the other countries already started to adopt bitcoin so i think it will not take too long for bitcoin to become popular and adopted by the majority of the people in the world.

Doms

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Digitalization is where we are all headed and even if we might not get to live until the day where everything is digital, I think it is inevitable. The changing needs of man have turned in a lot of new discoveries. Bitcoin and other digital currencies might not be necessary now, but in the future, today's wants might be tomorrow's needs. And if you can accumulate as much bitcoin right now, good for you and the next generations that will come after you.

fanbeila

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Definitely,since US dollar enjoys the privilege as world reserve currency for past seventy years,even a small effect in USD has a big impact on economy of most countries since they all store USD as their national reserve currency.There had been a large search for a currency which could be used as a substitute for USD.Now,with the creation of virtual currencies,especially bitcoin,possibility of replacing USD has been found.Iran has discussing to use bitcoin as a secondary currency to bye pass the US sanctions.Now,bitcoin has been made legal in japan and soon to be made legal in south korea,india and vietnam.So,possibility of using bitcoin to avoid side effects of USD has become possible now.

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