intoy_victor
Member
 Offline
Activity: 266
Merit: 16
|
 |
February 26, 2018, 11:41:01 AM |
|
Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money
For universal exchange of currencies it would be possible. But to be a global legal tender like physical money I don't if other country will agree with it. Because not all countries are using crypto currencies. Other country banned the crypto world because they don't know the worth of crypto currency and also to avoid the scams. |
|
|
|
|
|
|
|
Make sure you back up your wallet regularly! Unlike a bank account, nobody can help you if you lose access to your BTC.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
|
|
thend1949
|
|
February 26, 2018, 11:44:08 AM |
|
Cryptoncurrency is the new trend of economic of the world.
Cryptocurreny is not only a new trend but the miraculous kind of value price which people and everyones member sorrounds crypto world will really transform into a wealthier elite.Trusting cryptocurrency for unit of an income is the most terrific situation right now, especially when we know that every day or every month the impact of people with individual income was very huge. |
|
|
|
|
|
lionheart89
|
|
February 26, 2018, 11:53:13 AM |
|
Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money
yes it is possible. current and future cryptocurrency will be a global transaction tool. many countries that ban bitcoin do not mean the country is rejecting cryptocurrency, developing countries will soon create a legitimate virtual currency. |
|
|
|
|
yepaiyique2
Jr. Member
Offline
Activity: 126
Merit: 3
|
|
February 26, 2018, 12:52:02 PM |
|
The digital currency cannot be an effective means of circulation.
It's the lack of elasticity of supply.
That creates currency instability.
|
|
|
|
|
boynegro
Newbie
Offline
Activity: 70
Merit: 0
|
|
February 26, 2018, 12:53:36 PM |
|
Cryptoncurrency is the new trend of economic of the world.
a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. |
|
|
|
|
waskaplung
Newbie
Offline
Activity: 70
Merit: 0
|
|
February 26, 2018, 12:55:01 PM |
|
How can it be?
Why would any country accept a totally global digital currency as legal tender in their country?
A currency with open source coding and not controlled by anyone,
A currency which can be forked by anyone at any time.
The answer my friend is no.
Is decentralized cryptocurrencies such as bitcoin now provide an outlet for personal wealth that is beyond restriction and confiscation" |
|
|
|
|
donpepot
Newbie
Offline
Activity: 70
Merit: 0
|
|
February 26, 2018, 12:59:53 PM |
|
Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money
A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. ... Bitcoin, created in 2009, was the first decentralized cryptocurrency. |
|
|
|
|
BlackBird13
Newbie
Offline
Activity: 58
Merit: 0
|
|
February 26, 2018, 01:00:42 PM |
|
probably it will become in the future. As we see, more and more governments are becoming crypto-friendly. And yes, I believe that will keep happening in the future.
|
|
|
|
|
AnokhNasty
Newbie
Offline
Activity: 4
Merit: 0
|
|
February 26, 2018, 01:02:09 PM |
|
It's question confuse me. How cryptocurrency (digital) can be physical money?
|
|
|
|
|
|
Inkdatar
|
|
February 26, 2018, 01:03:05 PM |
|
The digital currency cannot be an effective means of circulation.
It's the lack of elasticity of supply.
That creates currency instability.
It can be used by many worldwide but cannot be effective to replace as a global legal tender to replace physical money. Because other countries cryptocurrency banned by the government. Yes it could lead to lack of supply and also still physical money be used by means of payment in the future. |
|
|
|
|
Sendah
Member
Offline
Activity: 143
Merit: 10
delicia - Decentralized Global Food Network
|
|
February 26, 2018, 01:05:52 PM |
|
Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money
I don't think it can be happen, all we know there some countries crypto currency is banned and they have government not legalize the Digital Currency. It's possible but not easy and long way process. |
|
|
|
|
josephpogi
|
|
February 26, 2018, 01:22:41 PM |
|
Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money
Cryptocurrency is slowly winding up, climbing and changing the economic standards. Cryptocurrency is in the trend right now, but what if people will convert it all to a virtual ? which means that cryptocurrency is still a sub-currency means of exchange compared to the traditional money. It's more preferably to say that cryptocurrency is the new way of investing and profiting of money. |
|
|
|
|
|
Chikitita2004
|
|
February 26, 2018, 01:36:18 PM |
|
An option maybe so people can have choices in which way they are going to pay their purchases but to be one single global currency, i’m not sure. If i am a merchant, i will also think twice in accepting bitcoin as a payment, not because i dont trust bitcoin but it is difficult to determine the value. If my business is active and my capital goes in and out fast then crypto will not be able to cope up with speed. I mean my money has to roll out everyday, if all that i have is bitcoin and the price is down so i need to wait for a better days to have a more better profit also so what will happen to my business.
|
|
|
|
Gulayman
Member
Offline
Activity: 173
Merit: 10
|
|
February 26, 2018, 01:49:51 PM |
|
Cryptocurrency is a digital money, it cannot be the global legal tender. Because physical money is cash, such as banknotes and coins. And surely physical money has a value.
|
|
|
|
|
|
JC btc
|
|
February 26, 2018, 01:53:40 PM |
|
Cryptocurrency is a digital money, it cannot be the global legal tender. Because physical money is cash, such as banknotes and coins. And surely physical money has a value.
It can be legal and can be used as a currency but not as a legal tender and you are right there, the legal tender is quite far to the definition of being legal and with that for sure many countries would appeal if the national government will pass law to unite and make bitcoin as a legal tender. |
|
|
|
|
|
lenovo16
|
|
February 26, 2018, 01:57:00 PM |
|
Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money
Well its hard to say. Because no one is guarantee to happen nowadays. The technology are continue to improve and we all know that bitcoin and other crypto's are run thru online with the help of technology. And because this is the new era. It is not impossible for that to happen. All we need to do is to be prepared and adopt to the ever changing world. |
|
|
|
|
Janodevera
Newbie
Offline
Activity: 64
Merit: 0
|
|
February 26, 2018, 02:06:38 PM |
|
A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation. Cryptocurrencies make it easier to transfer funds between two parties in a transaction; these transfers are facilitated through the use of public and private keys for security purposes. These fund transfers are done with minimal processing fees, allowing users to avoid the steep fees charged by most banks and financial institutions for wire transfers.
|
|
|
|
|
|
Sebas.tian
|
|
February 26, 2018, 02:18:52 PM |
|
Not really impossible to happen but not in the whole world. Some of the country's government didn't want to allow crypto currency since it can cause some illegal problems. Illegal transactions can brought to a country through bitcoin. Several governments just want the best for their country by not tolerating illegal transactions by anonymous senders or receivers.
|
|
|
|
|
Johnyz
|
|
February 26, 2018, 02:38:42 PM |
|
The digital currency cannot be an effective means of circulation.
It's the lack of elasticity of supply.
That creates currency instability.
It can be used by many worldwide but cannot be effective to replace as a global legal tender to replace physical money. Because other countries cryptocurrency banned by the government. Yes it could lead to lack of supply and also still physical money be used by means of payment in the future. Cryptocurrency don’t need replace physical money cause its better on its own way, its given that fiat money will never die but this kind of technology will help us to enjoy more in the future. The supply with cryptos is not a problem, because we all know even stock market doesn’t run out of supply its a matter of demand and it will create supply. |
|
|
|
|
|
Mevz
|
|
February 26, 2018, 02:47:32 PM |
|
Can cryptocurrency become universal means of exchange. I mean can it be a global legal tender like the physical money
I think its more ok with that. We can easily transfer/send money to the different parts of the world. But it takes more time to spread. It should be like the USA will introduce cryptocurrency to some countries and that is the time that their governments will start to study the good benefits of cryptocurrency. |
|
|
|
|
|
