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Author Topic: Why the world really needs virtual currencies  (Read 8032 times)
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August 10, 2017, 04:06:33 PM
 #21

First of all I would like to make remark on 2007 World Crisis, when whole world was suffering from huge financial illness, Asian countries especially India were almost untouched from it. So we can say America is no longer the only leader of global economy.
Now coming to Bitcoin, no doubt if countries start recognising the importance of Bitcoin and maintain their reserves in it, they would never see the crisis phase again. It will help countries to eliminate internal recession where reserves value may enhance without any increase in productivity.

You are comparing America with India. Now India is not in the list of developing country also. I hope they will become like Somalia soon because of their government policies.
Virtual payment option is not only in digital currencies even in banking they are also having online payment option to earn the fiats.


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August 10, 2017, 04:17:04 PM
 #22

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/
The world need virtual currency for transacting will be quick and easy to process.This would be thae needs of the whole world so that all nations be one.One currency of the whole world is very good idea.If there is unity in the world.So world must be one

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August 10, 2017, 04:36:45 PM
 #23

Now let's just forget bitcoin and crypto currencies in general and focus on virtual payments. The leader in virtual payments is PayPal. PayPal allowd us to receive payments from others and even send. It is a really secure platform and allows us make payments on different sites using our credit card without actually revealing any of the card details. In case of a scam it has a dispute system which further secures our payments online.
Now a world without virtual currencies we have to first select the item and then ask for sellers details go to an actual exchange send money to him and pay the minimum fees no matter what the amount is. Wait for few days for him to receive it, he then processes the order which adds more to the delay. Incase he never sent the item we either should forget the money or travel to the sellers country hire a lawyer and then file a complain. Though many virtual payment option may not have the dispute option but we can still use a escrow. Virtual currencies can also help in real life instead of carrying bundles of cash just a smartphone is enough.
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August 10, 2017, 04:41:46 PM
 #24

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 have never thought that virtual currency can protect us, however, I always believe that virtual currency can help my country grow, many people have come to bitcoin, and now, the life of them have become nice.

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August 10, 2017, 04:58:08 PM
 #25

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 have never thought that virtual currency can protect us, however, I always believe that virtual currency can help my country grow, many people have come to bitcoin, and now, the life of them have become nice.
Helps the people in your country get rich not like helps the economic your country growth, because they not need pay fees tax for your country when working in Bitcoin. So, your country not have benefit from Bitcoin.

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August 11, 2017, 02:36:24 PM
 #26

First of all I would like to make remark on 2007 World Crisis, when whole world was suffering from huge financial illness, Asian countries especially India were almost untouched from it. So we can say America is no longer the only leader of global economy.
Now coming to Bitcoin, no doubt if countries start recognising the importance of Bitcoin and maintain their reserves in it, they would never see the crisis phase again. It will help countries to eliminate internal recession where reserves value may enhance without any increase in productivity.

You are comparing America with India. Now India is not in the list of developing country also. I hope they will become like Somalia soon because of their government policies.
Virtual payment option is not only in digital currencies even in banking they are also having online payment option to earn the fiats.

Are you serious! You have entirely wrong conceptions about India. India is fastest growing economy in the world. It ranks in top 10 in both measures of GDP, I don't understand how could to compare it to Somalia.
I know digital system works in fiat too but that's not on what I am bidding. I am suggesting the inclusion of cryptocurrencies in government treasury so that incase of global recession, countries can overlap the depression.
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August 11, 2017, 03:55:11 PM
 #27

It's really easy to answer. Currenly it's easy and cheap to buy simple pc or smartphone, also people enjoy it so many of them has pc, laptop or smartphone. When you have this, usually you have internet also or catch wifi. This means there is high percent of people in internet. Also nowdays online shopping is very popular, so popular become online dark shops, it's more easy and safe. So all these caused need of virtual currencies, it gives us opportunity to feel safe and secure when making payments.
This is a technological era and keeping smartphone or laptop or computer is the need of a common man nowadays. At first these things were considered as facilities and now these are a sort of necessities. It is horrific when I think of a time without a laptop, smartphone and especially without internet.

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August 11, 2017, 04:08:29 PM
 #28

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 think bitcoin is needed in the future because we need a secure type of currency. The way we are now, there are a lot of hackers and criminals that want to get our saved money online, they will  be doing a lot of research and knowledge on how they can hack your account. Also, the discovery of blockchain will be a help in the future.
There is nothing such as a secure currency, rather there is a secure commodity, I don't know how bitcoins is going to react when there is a major financial crisis in the entire world, but am very confident and sure thay when that happens investors will flock to Gold and that in my opinion is a secure commodity.



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August 11, 2017, 04:26:14 PM
 #29

Well, we have not seen how bitcoin reacts in reality when an economic crisis takes place.
So we will simply have to wait until the next one hits us and we will see then.
I suppose that when bad times come up, people tend to put their money into gold like they always do.

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August 11, 2017, 04:28:51 PM
 #30

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/

There are a lot of reasons on why the world needs virtual currencies present and here are some examples:

1. The convenience of buying online across other countries make the transaction safer and reliable;
2. There are a lot of people who earn money through the internet and are converted virtually. This makes their process easier;
3. Having virtual currency increases your capacity to buy online products due to some of them being marketed through the internet; and
4. This makes your identity unknown (either advantage or disadvantage).

Bitcoin's existence on the world opens windows of opportunities for people who are willing to work online and having extra income for their needs. Also, some of our monthly obligations like electric bills, internet fees, etc. are already accepting virtual currency as an alternative in payment due to its rising reputation over the years. Without having any virtual currency, there might be an unstable economy due to having lack of liquidity on the market.

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HalfDeck
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August 11, 2017, 04:35:29 PM
 #31

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 think bitcoin is needed in the future because we need a secure type of currency. The way we are now, there are a lot of hackers and criminals that want to get our saved money online, they will  be doing a lot of research and knowledge on how they can hack your account. Also, the discovery of blockchain will be a help in the future.
There is nothing such as a secure currency, rather there is a secure commodity, I don't know how bitcoins is going to react when there is a major financial crisis in the entire world, but am very confident and sure thay when that happens investors will flock to Gold and that in my opinion is a secure commodity.
Well, in the fact Bitcoin just is virtual value and can't compete with asset stable in long time and very rare as Gold.
So I think we should consider before putting our funds to Bitcoin or other investment, because safest place is Gold.
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August 11, 2017, 05:59:48 PM
 #32

World are subject to change as technology also got advance every time so people may need some currency that able support their task
Virtual currency offering less fee and fast transaction, 2 main points that very useful for this digital era
let me add some more features, this currency makes everything easier to buy and you can also hold them easily. In this world of hurry everyone try to safe their time and everyone find shortcuts ways. So for this virtual currency make right entry at the right time. People get benefited and also save their time and increase their income.

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August 11, 2017, 06:49:38 PM
 #33

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 think bitcoin is needed in the future because we need a secure type of currency. The way we are now, there are a lot of hackers and criminals that want to get our saved money online, they will  be doing a lot of research and knowledge on how they can hack your account. Also, the discovery of blockchain will be a help in the future.
There is nothing such as a secure currency, rather there is a secure commodity, I don't know how bitcoins is going to react when there is a major financial crisis in the entire world, but am very confident and sure thay when that happens investors will flock to Gold and that in my opinion is a secure commodity.
Well, in the fact Bitcoin just is virtual value and can't compete with asset stable in long time and very rare as Gold.
So I think we should consider before putting our funds to Bitcoin or other investment, because safest place is Gold.
Gold is the metal for cold storage of your savings but it will not bring you income. Gold is tied to the price of the dollar, and the dollar falls in value. Now I do not see sense to invest in gold. This can only be done if you want to leave the money to their grandchildren.
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August 11, 2017, 06:50:30 PM
 #34

The world changes every now and then from several changes of cars to what we have today this is something that is constant. The issue is that the world does not really knows what it wanted unless its being decided by the people who are ready to take the bull by the horn and those are the people that really change the direction of things for others to follow the same way we have had several inventors.
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August 11, 2017, 08:15:45 PM
 #35

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!

In fact, that remains to be seen

As you must have heard, there is another saying and it basically says that practice is the criterion of truth. We have yet to experience a serious financial crisis to actually test this hypothesis in practice (that "we have a currency that can potentially protect us"). Bitcoin is a highly speculative asset (let's be honest here), and cryptoassets at large are likely the most volatile assets out there. And the history behind the most severe financial crises tells us that these assets drop like flies in such circumstances. Personally, I wouldn't cherish much hope that Bitcoin will be of any help then



I'd rather say it will be among the first to turn extremely toxic if (when) shit massively hits the fan

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August 12, 2017, 12:32:42 AM
 #36

The world is definitely evolving towards a much more advanced digital age but I think the road towards virtual currencies is still far away. Bitcoin has a long way to go before it can be a virtual currency to be used by the whole world. I think that the world is not ready enough to fully rely on virtual currency alone. Also, I still think that virtual currency would still be susceptible to a crisis. Just imagine if the price crashes and everybody panic sells? Or if bitcoin users suddenly decided to dump all their coins? Causing a massive decrease of the price. That would definitely spell trouble for everyone.
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August 12, 2017, 07:18:57 AM
 #37

Because at some point natural resources make the creation of physical currency very expensive, and the government must find ways to find other alternatives, when they switch to digital currency, it will save a lot of financial budget and become a role model. The most important is a bitcoin capable of being a pioneer with a unique system, so many governments will implement peer-to-peer systems and adapt to individual country policies.


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August 12, 2017, 07:35:33 AM
 #38

In my opinion virtual currency makes it easy for us to buy anything
Because now it uses the internet
No need to go somewhere to buy something.

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August 12, 2017, 08:24:16 AM
 #39

I think the presence of cryptocurrency is very helpful and easy for us. Because of the existence of cryptocurrency we can make transactions to every country around the world, even though we come from different countries, because bitcoin wallet that we used like a bank account who can be used in all countries in this world. And Of course this is different from fiat money, it can only be used in one country, when we go abroad then we have to exchange it and even there is a fee that must be paid and I think it is quite inconvenient.
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August 12, 2017, 08:36:37 AM
 #40

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/

Our world now is very high technology, In my opinion I think all nations needs this virtual currencies. Yes it is true that USD became powerful and strong currency of all time. But time will come that physical money will disappear when virtual coin(bitcoin) become the new world currency. So much better now to start using it.

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