Digital Currency Take Over

[mwaqar17]

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...

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1713856832

[boyptc]

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?

[Tenderino]

Can you also give sources for your claim? Because this is the first time I hear everyone / every developed nation is moving towards digital currency and I still can not pay my monthly rent with it. Why I can not pay my rent if every developed country is moving towards? I do not think the governments are against crypto currencies because of the tax problem. The problem that they can not finance their state budgets with a decentralized and fair digital money is unlike bigger for them than generating possibly less tax revenue.

[hugeblack]

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.

Although when someone is doing business in digital currency then that person is bringing money to country that is beneficial for the country...

Yes, its benefits are more than its disadvantages

[Silberman]

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...

It depends on what you mean? If you mean digital money like credit cards then it depends on the country, there are many countries in which most of the payments are already done in digital form and you need a credit or debit card to receive it, but there are also many countries in which the population prefers to use cash, we must also understand the limits digital currencies have, for example there are many poor people that cannot make use of services like that and so full adoption is not possible.

[airdagon]

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.

[Dancobit]

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

[Kemarit]

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...

Hard to say how much time is needed if digital currency will take over the current market. There are nation who is not fully developed like certain countries in Africa or even in Asia, so it will take a lot of time to even acknowledge digital currencies in those countries. But if we are taking about some European country, there are a lot of them experimenting cashless society so the rate of adoption must be pretty quick.

[vahidzeal]

Digital currency has its own role to play in the market i see it as another platform of technology were anyone can invest. there has being many form of product in the market but they never take over. but to make profit for investors. the speculation for crytocurrency is high and most people are still getting to know it. after scaling it they discover it also easier to make huge profit  from it. so investors are lining up for a better product and  cryptocurrency happend to be one of the product

[Supercrypt]

Can you also give sources for your claim? Because this is the first time I hear everyone / every developed nation is moving towards digital currency and I still can not pay my monthly rent with it. Why I can not pay my rent if every developed country is moving towards? I do not think the governments are against crypto currencies because of the tax problem. The problem that they can not finance their state budgets with a decentralized and fair digital money is unlike bigger for them than generating possibly less tax revenue.

The fact that we are tending towards the digital age does not mean you will expect everything to turn out rapid. However, it is obvious that the foot prints are gradually beginning to be there. You may not have much to say for your countries, but a lot of countries like Australia and Japan are doing their best to keep the world of cryptocurrency running with a lot of opportunities they are gaining from it.

We cannot expect government to just accept it as a currency and even at that, it is also becoming apparent that even though government will be switching to digital currency, it would be for them creating their own centralized digital currency.

[Name: Claudio]

Crypto currency is like a aid to Fiat and it is better if they can work together in harmony, but I do hope also a cashless society in the future, but for the meantime working this two is a good point.

[whirlcoin]

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 growth of crypto currencies are rapid in the rencent years,still bitcoin the first crypto currency made not yet complete a decade but it made huge reputation among the developed and developing nations.But still we are in early stage we need atleast 10 mote years to reach good adoption rate.
Yes many countries are opposing the crypto currencies because it will cause economical crisis in the governments so they will mever support the crypto currency.

[wuvdoll]

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.

No one is actually claiming this would be the case because it is something that will not happen. I believe there would be some form of co-existence in the long run but expecting that banks will be eradicated or the finance sector will rapidly be changed is absurd.

The problem most countries are having is decentralization, but the idea of blockchain is one thing they are not out ruling. Over time, countries will start creating their own digital currency which may be replacing printing paper currency, but that does not still change the idea of it being centralized rather than the decentralized cryptocurrencies we have now.

[boyptc]

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

We can't specify the price of bitcoin as it really doesn't have stable price.

And that's how you can use cryptocurrencies, you can use it with smaller fractions which is good for small investors and does want to try it first.

[el kaka22]

Yes, digital currency will take over, and in so many different forms applicable to each country with her policies. Whatever any country is doing to go against it now will obviously not last because cryptocurrencies are seeming as a fittest one to stand along with human race whereas traditional banking system and momentary systems are getting obsolete as of now.

This is a global market and the only thing that would happen as we are seeing so far is to end up having a regulation and policies in place. There is a lot of benefit to gain for most countries, but that does not discard the fact that there are still some lapse that must be tended to which we cannot just run away from unless regulation is being put in place.

[mostkey]

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 we need 10-20 years to make crypto acceptable in the world as a legitimate transaction tool. but when the development can be seen very quickly. maybe 5 years can be a pretty ideal distance

[btcdevil]

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.

[Gozie51]

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.

[Mister1k]

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...

US government tax day time there huge amount of people encash their BTC and ETH to make their taxation with the government. If the crypto investors are faking the government, this would not be happen at all mate.
I really think that BTC and all the top crypto should be a national currency for each country. I see already UAR government created the own crypto currency called Dubaicoin. Expecting more coins like this in future.

[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.