The European Parliament Says Digital Currencies Can Be Used as Money

[abojamal]

It means nothing...

It does mean something because maintaining such stand has given hope of holding or investing to someone within the EU region that is in a fix on what to do concerning his new found love. I don't have the statistics to support that but it's right to make such conjecture. Imagine if the India parliament should make such statement, it would really go a long way.

So..its just words.

Its not just words. At this time of serious uncertainty, every positive should be seen as victory in the crypto world no matter how small or inconsequential it might be. A lot of things adopted today, started as mere words and today, its now part of our existence. A body like that not giving an outright negative statement is worthy to be happy about.

I appreciate your analysis
I totally agree with what you said
I hope it will be the beginning of a complete adoption of cryptocurrencies

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[Gozie51]

If I haven't misunderstood then European Parliament is just accepting the fact that cryptocurrencies have a future though they haven't made a decision regarding this. To come to a decision to legalize cryptos among all European countries, the members of the parliament need to step up. But, their seems to be a lot of possibilities for it to happen in the future.

I think that is just what the issue is. The parliament have probably observed that there are some benefits that will be derived from digital currency and that is the reason they are looking at adopting it.

Some of the reasons include that :
It will serve as alternative to fiat which will help financial transaction in this fast technological development.

It will also boost their economy because more money will be invested into it.

Apart from physical money coming as investment, tax will also be generated.

[Taki]

It means nothing...

“Digital currencies, also known as ‘virtual currencies’ or ‘cryptocurrencies’ can be defined as ‘a digital representation of value, not issued by a central bank, credit institution or e-money institution, which in some circumstances can be used as an alternative to money.”

They've also added this:

“The arrival of permissioned cryptocurrencies promoted by banks, even by central banks, will reshape the current competition level in the inter-cryptocurrency market, broadening the number of competitors. ”

In summary, they say cryptos "can" be used as an alternative to money.
But the European Parlament, unfortunately, has no jurisdiction over this matter in the EU, they can't force a country to accept any other method of payment than the euro or their national currency.
It's up to the parliaments of the EU members to vote this for their internal legislation.

So..its just words.

Yeah, years may pass till this "can be" turn true. As we know politicians can be changed and those promises and courses that one politician made may stay unrealized or just a fairy tale from the election.

[DrYe5]

I think that they could say a lot of things but till we don't see any moves or changes on our market or in out lives those thing will be only the words without deeper meaning.

[passeroutpass]

The digital currency is already used as a means of payment for goods and services. Some organizations have already started working with crypto currency.

[stompix]

~snip

Yeah, years may pass till this "can be" turn true. As we know politicians can be changed and those promises and courses that one politician made may stay unrealized or just a fairy tale from the election.

And there is another problem to this whole mess which I've just realized when I saw the world "changed"

The election for EU parliament is not always (in almost all cases) at the same time as the elections for the national parliament.
So, there are cases where the majority of the EU senators representing a country are from a party while in their own country the opposition has the majority. 

Yeah, pretty fucked up!!!
In my country, there is currently a two-year difference between those elections and for the last 3 we always had a majority change between the two leading parties...

And if you look at Spain for example, PP and PSOE have 80% of the seats in the EU but in the current national parliament, they only hold 50%....

[Andrew S]

Hi guys
What does this news mean?

https://usethebitcoin.com/the-european-parliament-says-digital-currencies-can-be-used-as-money/

Wait for your responses

Article as an article, but they still can not do anything and can only reason.

[Dilerium90]

In my opinion i can’t agree with thing, that cryptocurrency can change fiat mony on 100%. Do you belive that goverment of Europ and USA will allow crypto? I think no.

[Lancusters]

In my opinion i can’t agree with thing, that cryptocurrency can change fiat mony on 100%. Do you belive that goverment of Europ and USA will allow crypto? I think no.

And who will ask their permission? If a critical mass of people who support cryptocurrencies will be recruited and cryptocurrencies will be used in online stores then no government will stop it. People do not understand that the government was created to serve citizens and not Vice versa.

[Girlsbit]

It has long been possible to buy everything in digital currency.

[primejia]

That is a great way for the European Union to finally clear the way of the usage of cryptocurrencies in the Europe. Actually even before this some european countries are accepting Bitcoin and other cryptocurrencies as a mode of payment, I haven't seen any news lately about how this countries see Bitcoin as a illegal form of payment. The EU tackling this issue is finally putting some kind of standard or a go signal for countries who are willing to take advantage of the blockchain technology plus their words are sort of binding when it comes to international law.

very good signal, I think by supporting crypto currency many governments will take advantage of various types of users, for example the government can apply taxes to owners or those who buy and sell using digital currency, the government only studies and analyzes the circulation of money, and I think tax income from the business of buying and selling between countries using digital currency is very large, and that will definitely increase state revenue.

[Aikidoka]

Now we need for some changes cause only words cannot make any difference on our market, there should be some moves which will make the prices go up or which will "tell" to new investors that those projects are not scam and they could put some money in them.

I do not think that there are people who think bitcoin is a scam. Perhaps, they still have not been introduced to cryptocurrency yet. So, it is normal for them to consider it to be a scam. But either way, they would have to make a lot of researches and be told about it by their close friends whom they trust. On another note, I am glad that among the bad news that crypto is encountering, there are several good ones that, at least, give you a good hope.

[msk19]

Crypto-currencies are already used by some companies as an alternative means of payment for goods and services. Therefore, this news is not surprising.

[Zalura]

Hi guys
What does this news mean?

https://usethebitcoin.com/the-european-parliament-says-digital-currencies-can-be-used-as-money/

Wait for your responses

Actually news like this can be guessed long before Europeans recognize bitcoin currency as a currency, because in the Asian and American continents many countries have also begun to do many things, because they realize that the progress of the times especially the development of goods payment equipment has been developed

so they has chosen the cryptocurrency as a substitute for conventional currency, the use of which is now obsolete, so news like this I think in the future will be very much especially in the Asian continent whose economy is growing very fast.

[entrepmind23]

Now we need for some changes cause only words cannot make any difference on our market, there should be some moves which will make the prices go up or which will "tell" to new investors that those projects are not scam and they could put some money in them.

Yes, there are several good news that at least we encounter every day but then the problem is that the media would magnify those bad news because those are the things that would take the attention of the people than the good news do. They are more concerned about their business than reporting what people should know and they would choose a news that has more impact and one of the example of that are the scams.

I do not think that there are people who think bitcoin is a scam. Perhaps, they still have not been introduced to cryptocurrency yet. So, it is normal for them to consider it to be a scam. But either way, they would have to make a lot of researches and be told about it by their close friends whom they trust. On another note, I am glad that among the bad news that crypto is encountering, there are several good ones that, at least, give you a good hope.

There are people who consider bitcoin a scam because that's what they can see always since the media focus on that. Instead of digging deeper about the topic, they would just immediately have a conclusion because it is not regulated anyway and many scams are going on nowadays so they would just immediately conclude it as scam.

[magneto]

Hi guys
What does this news mean?

https://usethebitcoin.com/the-european-parliament-says-digital-currencies-can-be-used-as-money/

Wait for your responses

Everyone knows already that bitcoin is a form of money. In fact, I'd argue that bitcoin is a much better form of money than even fiat currencies, as it is able to store its value in the long term, which is something that fiat currencies has proven to be terrible at due to the fact that every government that issues it is able to debase it whenever they want, and lead to inflation.

This news pretty much just means that bitcoin is acknowledged officially as a functional form of money, which is definitely a positive.

I'm not sure what tangible benefits this recognition brings. Perhaps some legal consequences/benefits would follow in Europe with bitcoin-related cases. But other than that, I think that it's just an investigation that recognised the benefits of bitcoin, which is honestly a great thing even if there are no apparent tangible benefits.

[Yusuf_Jay]

What I think about this statement is that the European parliament recognizes cryptocurrency.
They admit that it can be used as an alternative to money when many countries oppose cryptocurrency.

[Aramazdi]

Hi guys
What does this news mean?

https://usethebitcoin.com/the-european-parliament-says-digital-currencies-can-be-used-as-money/

Wait for your responses

my response is very happy, we can shop without we having to exchange BTC first, we can make direct payments, and surely the steps taken by the european side make it easier for tourists to do shopping and vacation to be more enjoyable,