Why the world really needs virtual currencies

[d@nte]

Yeah, some people do not understand the state that things can get when this credit bubble burst. Governments are already even thinking about a cashless society, think how crazy this can be.

Technically we are in cashless society in some way, usage of plactic card is all day need for almost everywhere, not to mentioned that everyday we see many transfers from one country to another. So this problems is mainly solved.

For bitcoin to be virtual currency this could be great idea. He has everything settled and running no need to be in some preparation, maybe that why they dont like it, cuz they can control it, i mean on governments.

Well, actually there is a problem being created, because there is something called "fractional-reserve banking", which allows banks to create money out of thin air.

This has been happening for a long time, and that means that most of the money that banks say their customers own does not actually exist in their safes. Now think about it... imagine when someday a large number of people decide to cash out their money from the banks and they see there is nothing there. It will be a chaos.

[webdevmastery]

yes the world really needs virtual currencies to help or make our life safe and easy..gives us opportunity and security when making payments

[panganib999]

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

As the world changes everyday and gets to improve, technology in related to it's improvements. Our world is getting techie, I guess in the future everything will be at ease because of the help of the computers and computer programs so when that time will come we will be needing support for fast transactions and bitcoin as a virtual currency is a big help.

[50ouncebrew]

The world needs virtual currencies because technology is ready for it, and so are the people. The people need borderless, secure payments with tiny fees. For anyone complaining about fees you're using the wrong wallet.

[kidsuzudn]

An unregulated digital currency that can be used as a substitute for real and legally recognized currency. Convertible Virtual Currency usually has a measurable value in real money, but what makes it convertible lies in its ability to be exchangeable. Not all virtual currency can be exchanged for legal tender though, therefore, not all virtual currency is convertible.

[BTCevo]

Cryptocurrency*, and this is because we need to evolutionate, and try to use new different payment gateways, we used to pay with gold in the past, a few centuries ago, and now the idea is to start using digital currencies. Maybe it would be a nice idea to have virtual usd, but that is the real purpose of debit and credit cards, or maybe online banking accounts.
But it is good, we need to improve and move toward the new technologies, this is the future.

Actually not all people are going to need this "crypto" as their currency, the problem here is not about the crypto itself but about its evolution. The era of technology is keep coming forward, so if you are not joining it now, you may not get its benefit, and if you joined it, you can't really take it off from you. Actually this is the same as gadget, you can see gadget on the past and now, there is a big gap on it and nowadays no matter what you always need those for living

[naidray]

Because of economic problems and increasingly complex financial world, we all know that the weakness of the current economic system is centralised so as to make the Government as dictatorial. bitcoin is a solution of many economic problems.

And bitcoin being decentralized it can help people with the economics problem like in Zimbabwe the depletion of money is high like you just can buy a meal for one person with that huge amount of money. Over time, their money will devalue. But having now a digital currency, we can have an alternative to our local currency. That's why I'm hoping that soon bitcoin will be accepted everywhere.

I read in some article recently on how the people of zimbabwe are really trooping in to buying bitcoin to the point that the value of bitcoin has risen over $7000 in the country. So many countries like this have experienced huge hyperinflation in the past and has never been able to find a way out of it.

I was surprised when I heard that zimbabwe has 1 trillion zimbabwean dollar note. I have always wanted to be a trillionaire, but I didnt know there has been a country I could have made that wish come true ...
Anyway, I so much believe bitcoin will be the saving grace for some of these countries economy.

[potatocorner]

The world needs virtual currencies because we are not limited to one country only. Especially nowadays we have lots of communication to the other countries and we will look better if we are united as one. Also, if we have these currencies, transactions will process faster because the only barrier we have is the distance, but because of internet connection, we are having a clear communication from people from afar.

[webdevmastery]

The world does not really needs virtual currencies but it happens that bitcoins will really make our lives easy because of its value then we should all use bitcoins and to enable that then we need to use credit cards that has virtual currencies.

[Iminvest]

Time is flying now! we desperately need to save every second to have an opportunity to do more and smarter things))) Cryptocurrencies are needed for the fastest international transactions around the world, so we can save our time in this area.

[marjoree]

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! 

https://www.rt.com/op-edge/398890-financial-crisis-asia-curency/

I like what you said about here. We all know that US is one of the powerful country in the world but it cannot control others because we can decide on our own. And today is a modern world with technologies and we can use bitcoin rather than US dollars since it is more accessible than ever

[BarbieCasino]

Yeah, some people do not understand the state that things can get when this credit bubble burst. Governments are already even thinking about a cashless society, think how crazy this can be.

Having cryptocurrencies, silver and gold is the best thing you can do to save yourself.

Really the government is trying to create the cashless society and it is the main reason why I want o earn from the bitcoin. The price of the bitcoin is much higher than the other currency in the future the bitcoin will be the only and the single currency for all the people so it is very important to hold bitcoin and use it with the online payment service.

[azguard]

Maybe main reason should be that many are feeling secure when they have saving in bitcoin. Not gonna say it safest place or safest way but some consider that this is best solution. Maybe in some next period few years maybe major government will consider that they need to rely on some crypto or to create some unique coin that will be for every country to use and to be recognized.

[deisik]

Maybe main reason should be that many are feeling secure when they have saving in bitcoin. Not gonna say it safest place or safest way but some consider that this is best solution. Maybe in some next period few years maybe major government will consider that they need to rely on some crypto or to create some unique coin that will be for every country to use and to be recognized.

This is the case in many developing countries

Typically, in such countries national fiat currencies get often devalued or they are in the process of being devalued non-stop. And Bitcoin may be a nice option to keep their wealth in (even despite its volatility) since governments in these countries usually restrict a free flow of foreign currencies (read they more often than not outright ban the US dollar). Ultimately, when the local currency crashes completely and gets abandoned by the majority of population (like it happened in Zimbabwe), we may and will likely see cryptocurrencies take the place where fiat money once was

[shield132]

Maybe main reason should be that many are feeling secure when they have saving in bitcoin. Not gonna say it safest place or safest way but some consider that this is best solution. Maybe in some next period few years maybe major government will consider that they need to rely on some crypto or to create some unique coin that will be for every country to use and to be recognized.

I think bitcoin and some active altcoins are already enough for crypto world, there is no need of having national crypto currency.
Main reason to my mind is that it don't depends on bank, we can save our money on flash drive or etc, save it somewhere secure and use in worst situation. Even if goverment/bank will freeze all our money, on chanse to escape is having bitcoin or altcoin (but having bitcoin is better as there are bitcoin ATM's).

[allohha]

Maybe main reason should be that many are feeling secure when they have saving in bitcoin. Not gonna say it safest place or safest way but some consider that this is best solution. Maybe in some next period few years maybe major government will consider that they need to rely on some crypto or to create some unique coin that will be for every country to use and to be recognized.

This is the case in many developing countries

Typically, in such countries national fiat currencies get often devalued or they are in the process of being devalued non-stop. And Bitcoin may be a nice option to keep their wealth in (even despite its volatility) since governments in these countries usually restrict a free flow of foreign currencies (read they more often than not outright ban the US dollar). Ultimately, when the local currency crashes completely and gets abandoned by the majority of population (like it happened in Zimbabwe), we may and will likely see cryptocurrencies take the place where fiat money once was

you can give a lot of examples Where money generally depreciates, Therefore, it is possible that the crypto currency can save the financial sector of the economy. Perhaps there will be a different situation with money, for Bitcoin gives the opportunity to date not only to earn, but also to save their income.

[deisik]

Maybe main reason should be that many are feeling secure when they have saving in bitcoin. Not gonna say it safest place or safest way but some consider that this is best solution. Maybe in some next period few years maybe major government will consider that they need to rely on some crypto or to create some unique coin that will be for every country to use and to be recognized.

This is the case in many developing countries

Typically, in such countries national fiat currencies get often devalued or they are in the process of being devalued non-stop. And Bitcoin may be a nice option to keep their wealth in (even despite its volatility) since governments in these countries usually restrict a free flow of foreign currencies (read they more often than not outright ban the US dollar). Ultimately, when the local currency crashes completely and gets abandoned by the majority of population (like it happened in Zimbabwe), we may and will likely see cryptocurrencies take the place where fiat money once was

you can give a lot of examples Where money generally depreciates, Therefore, it is possible that the crypto currency can save the financial sector of the economy. Perhaps there will be a different situation with money, for Bitcoin gives the opportunity to date not only to earn, but also to save their income

Yes, this is my point

Or, more specifically, a minor part of what I actually wanted to say. Saving your wealth when your national currency massively depreciates is only a beginning since when you can still buy something with it (at whatever price), you will continue using it. But when things cross some limit, some Rubicon of sorts, people won't use this currency anymore. Basically, before Bitcoin and cryptos, they had only two options. The first option was to switch to barter but that would mean quick destruction, disintegration, and dissolution of the economy, and the second option was to use a foreign currency (most certainly, the US dollar). But in either case, that would mean mostly hand-to-hand transactions. Bitcoin and friends easily solve this issue, and when we finally see some country going the Zimbabwe way (Venezuela seems to be going strong in that direction), we will witness the power of cryptocurrencies truly unleashed for the whole economy (and not just for saving)

[Revan90]

The problem I have with virtual currency is that it flunctuates too much. There is no actual value behind it. That being said I also think, that it is much better than current money. It is not regulated so it is impervious to some unellected officials meddling with the supply. I think that as a community we should be extra vigilant about the possibility of someone hijacking the crypto market.

[jkooi]

I think the cryptocurrencies are a really interesting thing, and I am jumping in to it. But can someone explain to me how this it will work with a mortgage? Will there rise companies with a huge amount of cryptocurrencies that will just lent you the money or something?

[leyton11]

The problem I have with virtual currency is that it flunctuates too much. There is no actual value behind it. That being said I also think, that it is much better than current money. It is not regulated so it is impervious to some unellected officials meddling with the supply. I think that as a community we should be extra vigilant about the possibility of someone hijacking the crypto market.

Haha, if Bitcoin is a currency, it like a currency still does not fixed its value and illegal. No one wants to fixed its value as Dollar or other currencies on the world. So, its value always fluctuates in price and depends on the mentality of investor on the market.