Quote from: FunGate on August 12, 2018, 04:22:42 PM

Quote from: bucketthechange on August 09, 2018, 12:06:05 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...

Do you mean digital payments or digital currency? I know in the United States, we are the reserve currency of the world, so to forklift fiat money out of the system (and that's not just in our banks but all over the world) then I don't see that happening any time soon. However with countries with volatile governments and therefore currencies, I can definitely see the play for digital currency. You see this happening in Venezuela and Iran...

But the fact is, governments make money off of making money. Will they contribute to a new payment mechanism that takes them out of the game? As for fraud, if there is regulation...when does decentralized become centralized again??

That's when the big man steps in and offers to help us out. Because you never know when you'll need someone to protect your money. There could be some serious security issues that we might want to start regulating, and then someone will centralize Bitcoin just for that purpose. Oh and to collect information for the taxman.

Digital payments is different because some countries (Scandinavians especially) are already more than 90% there. I have a hard time imagining a society where no one has cash in their wallets, but I guess they make it work up there. They don't really have to worry as much about corrupt governments so it's easier for them.

I do agree with you, people are taking benefits from bitcoin so gradually digital currency is taking the command over market. People are using bitcoin as digital currency more than fiat, now people are agree with new payment system as they got to know it is easier than paying with fiat money, bitcoin is being famous among all other digital currencies, so crypto currency and digital currency is taking the rule over the world.