Ninjastic
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Re: Digital Currency Take Over
by
Silberman
on 24/05/2018, 21:04:25 UTC
Quote from: Mister1k on May 21, 2018, 02:04:40 PM
Quote from: nniecan001 on May 21, 2018, 08:18:21 AM
Quote from: Mastsetad on May 21, 2018, 07:58:02 AM
Quote from: mwaqar17 on May 08, 2018, 08:49:04 PM
As we can see now everyone/every developed nation is moving towards digital currency. In your opinion how much time is required for digital currency to take over the current/existing market or it is impossible that digitisation will never be successful. If yes what are those factors ? In my opinion those countries which are not accepting digital currency, are doing wrong. They are only thinking about the tax. They are saying that we will not get any tax and digital currencies are fake. Fraud is very easy in digital world (that is true but it also happen in every market). Although when someone is doing business in digital currency then that person is bringing money to country that is beneficial for the country...
And you think that by most countries accepting Bitcoin that will make it take over everything and being used by everyone, well you think wrong. It can take over, but that will have to be in whatever that has to do with investments and of course we can use it as a payment method, though not all countries approves that. Bitcoin is making success, but I don’t think it will replace the currency we are making use of.

Everything is possible folks, but I think it's too early for that. Still the local currency is more famous than anything else, special in digital currency. Tangible item is matter I think. What do you think folks?

Many traditional things has been vanished by the digital technology then why not you can see the crypto currency will be take over the fist currency. Possibly we may find the cryptos to occupy the name as national currency in some years.
I expect cryptos will replace the fiat cash usage in 2025 for sure mate.
Already Japan accepted btc as a legal currency and now Russia waiting to implement it as legal money to use there.
Because things are not so simple, replacing a technology like cameras with digital cameras was not such a big deal because you do not really need to use cameras in order to survive, but almost everyone in the world needs to use some form of money, this means that it needs to be reachable for everyone and the use of digital currencies requires you a great deal of knowledge and access to technology.