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Author Topic: Can we sell cryptocurrencies in the traditional market like any commodity?  (Read 111 times)
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July 24, 2018, 09:42:37 PM
 #1

The nature and perceptions about cryptocurrency is that it is for certain group of people .Either for only those who like technology or the rich.But if we can go a step further to introduce cryptocurrency like any other financial method in the traditional market places, people attention will be drawn.
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August 02, 2018, 10:05:15 PM
 #2

The future will have more exciting things to do in the market and other world activities. The age of digital technology, the era of modern machinery will certainly have many things we do not know. But there is one thing that will help people special things down load all the physical activity.

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August 02, 2018, 11:04:30 PM
 #3

The nature and perceptions about cryptocurrency is that it is for certain group of people .Either for only those who like technology or the rich.But if we can go a step further to introduce cryptocurrency like any other financial method in the traditional market places, people attention will be drawn.

It is easy to say than to do it in reality. We would love to introduce cryptos in traditional marketplaces but would the governemnt allow it? There are few crypto friendly countries like Malta or Japan but even they haven't yet allowed crypto to be added in their traditional stock or commodities market. Instead they allowed new marketplaces to operate which are designated for cryptos only. Even the most crypto friendly countries are taking calculated step. In this current scenario, your proposition looks impossible. Probably we will see such initiatives in future.


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August 02, 2018, 11:09:26 PM
 #4

If crypto could be introduce in traditional market it will be awesome, unfortunately it's not that simple, the legality of crypto still in big question mark, and then the popularity in crypto is not too good in some countries, so I would say it need more time to introduce crypto to traditional market


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August 03, 2018, 03:22:20 AM
 #5

The traditional market sells traditional goods. And how can you buy or sell virtual crypto currency on it? In the traditional market, there are no suitable conditions for this. Of course, no one does not forbid you to negotiate and sell the Crypto-currency, if someone does it. However, all conditions for this are on the specialized crypto-currency market, where it is convenient to do so.

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August 04, 2018, 04:13:08 PM
 #6

You can not trade bitcoin in traditional markets. Those pages are under the control of the government; if we exchange them on it, we will disclose personal information. And you will be at risk of being scammed a lot.
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August 04, 2018, 04:23:13 PM
 #7

some countries have already done that, like Japan and Indonesia. on indonesia, there's a cryptocurrency called E-DinarCoin, with this coin you can bought a coffee on coffee shops which is allows this coin. on japan, there's even a big ballyhoo to advertising bitcoin and some cryptocurrencies.

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August 04, 2018, 04:24:18 PM
Last edit: August 06, 2018, 03:00:29 AM by vintages
 #8

Yes of course, In my country, so many youth cryptocurrency enthusiast practice  this and has used it as source of income. But sometimes the problem they are facing is that they do need to vigorously market that they are selling cryptocurrency because so times they don't seems to have much customers who can simply walk to them and buy it as a normal commodity cause of less btc adoption.

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August 04, 2018, 04:49:07 PM
 #9

Perhaps it can be, but for those countries not implementing any law regarding bitcoin. It is good to introduce bitcoin in the traditional market because of bitcoin asset as a high possibility of gaining profit. As of now, it depends upon on which country you are bitcoin is allowed in a traditional market.
Yes of course, In my country, so many youth cryptocurrency enthusiast practice at this and has used it as source of income.
Same here in our country since bitcoin was recognized by our government there are a lot of groups or people who used their business using bitcoin.

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August 04, 2018, 05:26:45 PM
 #10

Introducing cryptocurrency into the traditional financial market can only be done by banks. Otherwise, it would require a license to operate just like banks. And this is not something that any company can get. Add to that, the nature of cryptocurrency is rather considered as a "tool" for activities not very clear, so governments are rather reluctant

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August 04, 2018, 06:02:05 PM
 #11

Introducing cryptocurrency into the traditional financial market can only be done by banks. Otherwise, it would require a license to operate just like banks. And this is not something that any company can get. Add to that, the nature of cryptocurrency is rather considered as a "tool" for activities not very clear, so governments are rather reluctant

I would not compare cryptocurrencies to assets like equity, where banks and sophisticated investors are the market players. Even if retail investors can buy equities, the intermediaries are all big financial institutions. I would see cryptocurrencies being traded like gold - small players can play as big as a role as the big banks.


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August 04, 2018, 06:14:35 PM
 #12

I have encountered people who really bought BTC not knowing what it really is, it was around 1k USD. The seller told him it would give him profits a year and he believed him just for only 1 reason and that is he is his friend. The sad part is, he lost the storage where he kept the keys containing 2 BTC. So people really don't think much if you sold them a thing or two if they would gain even more from it.

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August 04, 2018, 06:16:39 PM
 #13

The nature and perceptions about cryptocurrency is that it is for certain group of people .Either for only those who like technology or the rich.But if we can go a step further to introduce cryptocurrency like any other financial method in the traditional market places, people attention will be drawn.

This is what we are trying to achieve here I guess. I mean what do you think why people are struggling here to get involved with the different projects around the globe. For example, lot of altcoin projects are being created so that they can bridge the real world and crypto currency world. They are doing in this in the hope that they can make it usable in the real world. I mean altcoins having over the internet and having in the real world is completely different thing. Even the kind Bitcoin is striving these days. However we still have created some of the techniques which can be used for trading our bitcoin and fiat and also product/services in the world.
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August 04, 2018, 06:17:19 PM
 #14

The nature and perceptions about cryptocurrency is that it is for certain group of people .Either for only those who like technology or the rich.But if we can go a step further to introduce cryptocurrency like any other financial method in the traditional market places, people attention will be drawn.

Then it will defeat the very purpose of crypto, that is decentralization. Almost all of the traditional markets has a bank stomped on it so its unlikely that banks and crypto will be on the same side, in my opinion. Perhaps regulations will be enough for others to join this market. But if they are still not comfortable then they should stick to traditional markets then. That's why you will hear traditional investors like Warren Buffett doesn't like crypto and hates it, decentralized markets.

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August 04, 2018, 06:32:54 PM
 #15

The nature and perceptions about cryptocurrency is that it is for certain group of people .Either for only those who like technology or the rich.But if we can go a step further to introduce cryptocurrency like any other financial method in the traditional market places, people attention will be drawn.

In the current journey there is still no gap for the government to be able to introduce further into traditional markets and can only be limited in the current scope, but whatever happens Bitcoin will plan in that direction in promoting relations between the world, this is a problem that has not opened eyes in the crypto world, people are increasingly eager to use it but are still limited, it is a very hindering thing.

Perhaps it can be, but for those countries not implementing any law regarding bitcoin. It is good to introduce bitcoin in the traditional market because of bitcoin asset as a high possibility of gaining profit. As of now, it depends upon on which country you are bitcoin is allowed in a traditional market.
Yes of course, In my country, so many youth cryptocurrency enthusiast practice at this and has used it as source of income.
Same here in our country since bitcoin was recognized by our government there are a lot of groups or people who used their business using bitcoin.

Yes, congratulations on where you live with great enthusiasm for Bitcoin, not my place of residence, which can only hold it and is still limited to a wider use of it as a digital currency.
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August 04, 2018, 06:59:11 PM
 #16

If crypto could be introduce in traditional market it will be awesome, unfortunately it's not that simple, the legality of crypto still in big question mark, and then the popularity in crypto is not too good in some countries, so I would say it need more time to introduce crypto to traditional market
Yes, you are right. There are still many people who don't know crypto in traditional markets. Some of them assume that crypto cannot help them. Because they don't understand how crypto works. We recommend that if anyone understands crypto use, they must teach people to understand crypto usage.
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August 04, 2018, 07:41:48 PM
 #17

The nature and perceptions about cryptocurrency is that it is for certain group of people .Either for only those who like technology or the rich.But if we can go a step further to introduce cryptocurrency like any other financial method in the traditional market places, people attention will be drawn.
I agree with you, it's true that crypto will be able to get to the traditional community, of course it will be easier to access it, but if the convenience can be answered fully by the ATM machine, I think everyone will be easy and facilitated, especially when there is no internet network. more assured of the shortcomings in internet technology that is now underway, hopefully useful and successful for all of us
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August 04, 2018, 07:58:46 PM
 #18

Hello there,

one important factor is the usability. By providing cryptocurrencies with a good usability and user experience, people will start to use them in their everyday life. It is no matter of the understanding of the technology behind cryptocurrencies, even though I love the thought to teach children about blockchain in school.
How many people are part of our actual financial system and how many people are interested in how it actually works?

It's a matter of usability and for sure one of creating a better awareness of how DLT, in general, can benefit mankind.

Best regards,
Asure Team
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August 04, 2018, 08:54:06 PM
 #19

Right now establishments and some companies will not consider cryptocurrencies as a mode of payment like any other assets as they are very volatile. As you can see only few companies such as online shops like Newegg.com and very few establishments over the world considers it. however there are people who does private transactions for instance trading BTC to any other crypto without the use if exchanges as some sees this as more profitable than selling in such platforms as most of the times fees are high. There is also people who trade it for physical items but it is more evident in the black market.
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August 04, 2018, 10:19:17 PM
 #20

If there are new technologies being introduced in the traditional market and they accept cryptos then we can gsay that we can sell their cryptos there in that traditional , but without those advanced gadgets in it ,then cryptos will not be accepted and transacted in that market.
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