Quote from: avikz on March 07, 2019, 04:15:31 PM

Quote from: EriksonPartners on March 07, 2019, 10:52:20 AM

Some say it doesnt really pose any kind major threats to the financial system, since its too unstable to be accepted as a regular currency. However, others say it will totally disrupt the current model. What do you guys think?

Everything has a positive side as well as negative side. Cryptos are no exception. The fluctuation in crypto price is a real challenge for businesses to accept it as a regular currency. Beside government regulation, this fluctuation is the biggest challenge in crypto.

But I don't think that existing cryptos have the power to disrupt the current financial or economic model. It would certainly bring some changes in the current model but disrupting is out of question. In a nutshell, I don't think crypto poses any significant risk to the current economic model and it will co-exist as a parallel economy!

Fluctuation is a challenge, but maybe it won't be such a problem when more people use cryptocurrencies. I think that more usage means less fluctuations due to smaller impact of panic sellers on the general situation. And as for disruption, it might be just a matter of time. When the best fiat like USD and EUR fails, people will be tired of regulations and risks or inflation, so cryptos will be the first thing to turn to. If scalability issues are solved by then, I think cryptos can truly become a game-changer.

Quote from: libert19 on March 09, 2019, 03:24:29 AM

Cryptocurrencies are pseudonymous so it might be trouble for taxation agencies to track down and tax individuals.

Firstly, some are not pseudonymous, and secondly, one might require enterpreneurs to decrare their crypto addresses they use for business, and thus easily track crypto for tax purposes. Sure, one might use another account for some part of business and not pay taxes, but people find their ways to avoid paying taxes without cryptos as well.