Digital Currency Take Over

[jonland22]

without a doubt cashless payment has becoming more popular and in demand in every countries even though that country is still under development, this means that technology is progressing way much faster than before, i don't know if cryptocurrency will over take the fiat system but other forms of online payment will surely become a thing in the future.

[1714757788]

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[1714757788]

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[coinplus]

Every thing depends on the country regulations, until then no one can tell how much time. If any big country show the good results of economy after regulating cryptocurrency then within very short time it will get success.

It is like who will kick the ball first but even with that, the possibility of it taken over is not seen yet in my view and one reason is because of its decentralized nature. Many country won't want their identity to be eroded.

the clearest and most obvious is the time that will answer all this, will the digital currency take over the finances in the banking or, alternatively, the government and the bank take over and control the digital currency becomes centralized.

We all know time will answer everything but we still have to understand that no matter what even if digital currency is taking a hold of the day, banks will still be functioning and so as local currencies. Now, regulation is not necessarily going to mean cryptocurrencies will become centralized as long as the protocol is not changed. The only thing that is going to be affected would be activities revolving round cryptocurrency as people obviously won't be free to make those decisions they have been making in the past.

[ballerin and giroud]

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...

The government only thinks how to get profits and increase state revenues without a prior observation of the potential of digital currency to the economy of the country in the future. The government is only fixated that state revenues are only derived from the taxes imposed so that they are afraid that a decentralized bitcoin system can not provide income to the state because there is no tax regulation on it.

[samcrypto]

without a doubt cashless payment has becoming more popular and in demand in every countries even though that country is still under development, this means that technology is progressing way much faster than before, i don't know if cryptocurrency will over take the fiat system but other forms of online payment will surely become a thing in the future.

Though I see some progress here in my country in terms of adopting this kind of technology, I still believe cryptocurrency can’t over take fiat money because our government will not let that things to happen. I’m just happy right now that we can easily use this thing, and I know in time more people will adopt the system.

[yanixbtc]

without a doubt cashless payment has becoming more popular and in demand in every countries even though that country is still under development, this means that technology is progressing way much faster than before, i don't know if cryptocurrency will over take the fiat system but other forms of online payment will surely become a thing in the future.

Though I see some progress here in my country in terms of adopting this kind of technology, I still believe cryptocurrency can’t over take fiat money because our government will not let that things to happen. I’m just happy right now that we can easily use this thing, and I know in time more people will adopt the system.

Digital currency maybe can do over take fiat but it takes a long time due to government regulations.
Knowing some countries banning cryptocurrency, it will take some time for a full adaptation. Fiat and digital currency can work together smoothly.

[airdagon]

Every thing depends on the country regulations, until then no one can tell how much time. If any big country show the good results of economy after regulating cryptocurrency then within very short time it will get success.

It is like who will kick the ball first but even with that, the possibility of it taken over is not seen yet in my view and one reason is because of its decentralized nature. Many country won't want their identity to be eroded.

the clearest and most obvious is the time that will answer all this, will the digital currency take over the finances in the banking or, alternatively, the government and the bank take over and control the digital currency becomes centralized.

We all know time will answer everything but we still have to understand that no matter what even if digital currency is taking a hold of the day, banks will still be functioning and so as local currencies. Now, regulation is not necessarily going to mean cryptocurrencies will become centralized as long as the protocol is not changed. The only thing that is going to be affected would be activities revolving round cryptocurrency as people obviously won't be free to make those decisions they have been making in the past.

I do not know much about it. all this is just a prediction of predictions alone, no matter how crypto money will take over the banking world in my opinion. but, I begin to agree with you, if the crypto currency takes over, the local currency will always be there for use. however we will never forget tradition.

[Dreamchaser21]

From the way and speed with which people are embracing digital currency, it is only a matter of time some countries will start adopting it as means of exchange.

Cryptocurrency will take more time before it become fully accepted in many countries but I think cryptocurrency can't take over fiat money because it still more convenient to have fiat money and this is where one's economy is being measured so government will keep on supporting fiat money for sure.

[Sum24]

Digital cuurency is now success even though there has some countries that hasn't accepting this. Actually they are not doing wrong it is their decision and for sure there is an enough reason why they do it. They will realized it i guess when the time comes.

Same as a lot of countries who are now regret of not accepting bitcoin on right time they will be sad now price of bitcoin is improving and it is only because people are accepting it worldwide around us some has started to use bitcoin as legal currency, I am really happy for having bitcoin in my life as it use to change my earning to turn my status from poor to become rich, I am sure near future bitcoin will be famous enough and many people will be there to get it.

[justdimin]

From the way and speed with which people are embracing digital currency, it is only a matter of time some countries will start adopting it as means of exchange.

If we really want to be referring to speed, I must say it is not that much and at the same time it is not that bad. It has been few years anyway and from the look of things, we have been growing stronger and better than where we started from.

If we keep seeing things going on like this, obviously the future is bright for cryptocurrency but obviously not at the position of taking over banks or local currencies. Come on! It is the government we are dealing with here and all they just need is to use regulation and some policies to put cryptocurrencies in its place.

[Cacingkemi]

It could take a couple of decades or until poverty is solved because not everyone can afford all the things needed for a crypto wallet (electricity,internet,device). Just because a certain country won't accept Bitcoin it doesn't mean that they're only thinking about the tax. Any country could tax Bitcoin and all crypto if they want to. Every country has different plans and Bitcoin might ruin their plan that's why they're banning it.

Right that taxes can be done in fact by every country that prohibits BTC but their plans are more than just about taxes or digital currencies,the state plan that prohibits BTC is about economic factors I think it is feared that local money will not be used and that the growing banks will not there will then be less state of affairs maybe that's what they fear cause BTC is freed from it all.And last Corruption in a country I think with existing money can not be read while with BTC and blockchain can be seen all the existing transactions are also a factor that led to the prohibition .

[ricardobs]

In your opinion how much time is required for digital currency to take over the current/existing market

No one will know on how much it needs for digital currency to take over the existing market.

it is impossible that digitisation will never be successful.

I'll rephrase it.
Digital currencies now are in success so what makes you think it won't?

most digital currencies can be broken down into parts. You can use and trade in small quantities.
buyers who want certain currencies and sellers who own the currency. I do not specify the price of Bitcoin or any digital currency

It is difficult to guess about the exact time but the world is turning towards digital currency. Everything is digital why not currency. I am waiting for that time when there will be only one currency in the whole world. Transactions will be easy and this is the big advantage of having one currency in the globe. It will take more time and we will have to wait for it.

[rizkyhiw]

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...

Bitcoin's popularity has skyrocketed in the past year. We can now see a lot of positive news in the media, such as the news that Japan legalized Bitcoin as a currency, countries and regulators that began discussing the rules that fit the Bitcoin industry, as well as the growth of the Bitcoin industry as a whole - the total value of digital currency assets globally has grown from $ 20 billion in early 2017 to about $ 150 billion now.
So why do they still think that crypto success will not happen.

[amih]

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...

I think the problem is just about taxation issues because like bitcoin as decentralized crypto currency it means there will be no control at all from the government and certainly no taxation system will apply as in fiat currency in general. it is possible that the crypto currency will be applied to every country if only the government is not too concerned about taxation but the question is whether it might be realized by the government because as we know a few percent of the state budget revenue is generated from the tax system.

[naidray]

The situation remains ambiguous about digital currencies. Many countries believe in the Blockchain technology, but the decentralization of digital currencies may weaken the authority of the states.
There are more than 1,000 digital currencies, although most are not needed, the number is increasing every day.
The need to regulate this market is healthy to avoid scam, but as I said, these currencies are decentralized.

Right, as the truth here is that most countries are actually seeing the blockchain technology as the future but the fact also is that, they cannot tend to admit the idea of decentralization even though they really do not have much of a choice now than to accept the idea and regulate the environment. Over time, there would be a switch to integrating the blockchain technology into the fiat system and I guess we are gradually beginning to see that.

[Magic Sarap]

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...

Agree. Those countries are not believe to how can bitcoin do to they countries. They think that digital currencies is a fake system and not helpful thus, it's not safe for transactioning. But they're wrong.

[stomachgrowls]

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...

Depends on what kind of digital currency you are talking on.If you do mean about national digital currencies where government do make their own token and make transition to physical to digital then its possible yet its centralized and regulated but if you do mean about cryptocurrencies then it would really be impossible to consider.We do know whats the feature and the current standing or perception towards crypto.We will able to say that this thing wont really happen when we do talk about take over.

[s2sallbygrace]

Every thing depends on the country regulations, until then no one can tell how much time. If any big country show the good results of economy after regulating cryptocurrency then within very short time it will get success.

I agree with you, everything will depends on the countries regulations and how the government will accept and implement digital currency to take over. We must admit that not all people in each country has a knowledge in  digital currency because there are still community who can't afford own and use it. So I guess it will take time for this currency to take over each and every country.

[ivrynx]

If you are referring to crypto currency, yes that seems to be the case, little by little we can see that cryptto currency is taking over, and it does not specifically means it is only for bitcoin, we can also see altcoin being accepted accross the globe, but it will take a long time before everybody will accept crypto currency as the only legit currency,  since there are a lot of regulations to be done, and education among the masses still needs to take place, as a community we want crypto currency to be on a fast pace, but people's adaption will take longer than that, i believe that we are just a fraction of the total global population, I think we need to become the majority, in order to really consider that crypto currency took over.

[BTCRoi]

I do not know whether the digital currency will take over finance, world banking or not. but I see information that some countries that ban digital currencies like bitcoin are now starting to plan their own digital currencies, I myself do not know about this situation, hopefully this will change the world's finances better.

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[BTCRoi]

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