Karis2018
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August 24, 2018, 05:31:30 PM |
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Obviously it will even now require the assistance from fiat, crypto can't and shouldn't be the principle cash, it could be hazardous fornthe nation, in light of the fact that the cost could be controlled, I think if crypto turn into a worldwide money it could build the world financial, as should be obvious bitcoin had been help such a significant number of individuals by give more openings for work and more wage, however the administration will require a decent direction so the crypto and fiat could go together
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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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Ayaah
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August 24, 2018, 10:21:22 PM |
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If and when cryptocurrency finally becomes an official global currency, how do you think it will affect the global economy and the economy of each countries? Will it help improve the economy better than fiat or will it still need help from fiat?
When crypto currency will become globally useful, so that would mean fiat money will become less useful to none. So I think money transactions will be easier and faster. For as long as crypto currency will be regulated that scams are eliminated, crypto currency will have good effect to the humanity. |
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qumeijia
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August 24, 2018, 10:40:17 PM |
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It is very hard to get it. Even though Crypto currency now spreads globally and it is used by many people around the world, it is very difficult to be an official digital fiat in in global. In addition, we know that the fundamental and basis of Crypto is decentralized. So, it will be a problem because in side this is no a Central Bank which control and how could be a official fiat if no authority controls crypto. That's my opinions.
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magneto
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August 24, 2018, 11:33:45 PM |
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If and when cryptocurrency finally becomes an official global currency, how do you think it will affect the global economy and the economy of each countries? Will it help improve the economy better than fiat or will it still need help from fiat?
It's very unlikely and pretty much impossible for bitcoin or any other decentralised cryptocurrencies to be declared officially as some sort of official global currency. Governments around the world will simply not be willing to give up their control over their respective economies. If there was to be a global currency, then it would be centralised, and is essentially fiat currency, except run on a blockchain. That would pretty much be the same as right now, and not change anything in terms of how the basis of the economy operates. If you're referring to the mass adoption of bitcoin around the world, then I believe that it's possible. Economies around the world wouldn't be affected much, as I think that it's very likely bitcoin will simply be an alternative currency form to fiat, that co-exists with fiat. It wouldn't need the fiat economy to exist. |
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jeronimosuykens
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August 26, 2018, 08:17:26 AM |
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It's very hard for cryptos to become global currency as not all the people would be ready to accept the decentralised cryptos not backed by any of the governments.
I also find it hard to replace cash. If the replacement of the amount of cash thrown away? The amount of cash is too much and it boosts the economy. And these two types of money must always be together. They can not be replaced. |
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wuvdoll
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August 26, 2018, 02:08:57 PM |
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If and when cryptocurrency finally becomes an official global currency, how do you think it will affect the global economy and the economy of each countries? Will it help improve the economy better than fiat or will it still need help from fiat?
Do you mean like used by everyone and considered to be currency of each nation instead of stuff like dollars and euros ? Because that can't happen anytime, not now, not 10 years, not 100 years from now. No money can be the official money of any country, they NEED to all have their own money. Even euro zone is having trouble for having one currency because while some try to fix the economy the others are trashing it and creates some type of resentment and anger between countries, look at Greece and Germany for example. Hence I think its IMPOSSIBLE for bitcoins or anything else to become a world currency... ever. |
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Roomshambles
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August 26, 2018, 03:09:47 PM |
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If and when cryptocurrency finally becomes an official global currency, how do you think it will affect the global economy and the economy of each countries? Will it help improve the economy better than fiat or will it still need help from fiat?
Maybe it will be a little shaken because the global economy can be replaced by the crypto currency but it will be very difficult for the crypto currency to replace it because there are still many people who prefer to use the global economy. |
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TranTrongit
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August 26, 2018, 03:30:14 PM |
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First of all I want to say that this is sure to never happen. And if that happens I think it will make the economy become turbulent, unstable with price volatility too big. It is best to keep the cryptocurrency parallel to the fiat. Both will support, promote each other to bring the economy to development.
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alval
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August 26, 2018, 04:55:34 PM |
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truly affect the global economy, I will make it simple based on my logic. there is transition pricing from the old price (using fiat) to new price using cryptocurrency. that condition will create a high demand on certain cryptocurrency that will affect the fiat will rapidly exchange to the new condition which needs more to adaption. when cryptocurrency become global currency made it can be used to pay for everything in all country over the world. it will make differences especially on production expenses which different in each country, inflation is assurance. will it become better or not? nobody known exactly there are potential that can create better condition or there are harm factor can make those become worst.
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westril688
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September 06, 2018, 01:37:36 PM |
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First of all I want to say that this is sure to never happen. And if that happens I think it will make the economy become turbulent, unstable with price volatility too big. It is best to keep the cryptocurrency parallel to the fiat. Both will support, promote each other to bring the economy to development.
Bitcoin will not be a global money to replace fiat money, because bitcoin only exists in the digital world. While fiat money is in the real world, there is a form and can be seen or held. It can even be damaged. But the function and purpose are the same, as a means of payment. Bitcoin in the future will go hand in hand with fiat money, for local transactions using fiat money, but large transactions and between countries use bitcoin. Between fiat and bitcoin money there is a payment gateway as a processor to convert bitcoin into fiat money. |
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logicgate
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September 15, 2018, 06:39:47 PM |
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It's very hard for cryptos to become global currency as not all the people would be ready to accept the decentralised cryptos not backed by any of the governments.
I also find it hard to replace cash. If the replacement of the amount of cash thrown away? The amount of cash is too much and it boosts the economy. And these two types of money must always be together. They can not be replaced. Yes you are right to some extent that money is being use now in the world, as well crypto, we need to decide what is more beneficial for us, we are involving more and more people in this forum which is clear sign that bitcoin currency is going to be more famous and popular than any other currency, we should not think about it as risk but only a source of income. |
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theyRmose
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September 15, 2018, 07:17:20 PM |
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If and when cryptocurrency finally becomes an official global currency, how do you think it will affect the global economy and the economy of each countries? Will it help improve the economy better than fiat or will it still need help from fiat?
what do you mean by official global currency? What do you mean as a payment currency? it is impossible, but if indeed bitcin is accepted globally by the whole world, of course there will be taxes on bitcoin, and obviously taxes from bitcoin can help a country's income, and that will help a country's economy a little. |
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Beegovere
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September 20, 2018, 11:34:13 AM |
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It's very hard for cryptos to become global currency as not all the people would be ready to accept the decentralised cryptos not backed by any of the governments.
I also find it hard to replace cash. If the replacement of the amount of cash thrown away? The amount of cash is too much and it boosts the economy. And these two types of money must always be together. They can not be replaced. Yes you are right to some extent that money is being use now in the world, as well crypto, we need to decide what is more beneficial for us, we are involving more and more people in this forum which is clear sign that bitcoin currency is going to be more famous and popular than any other currency, we should not think about it as risk but only a source of income. I believe that bitcoin will take over the market in the future and we should hope for that. It is right that it is hard but not impossible. Creation of digital currency means that the end of other fiat and paper currency is near to end. May it not possible in our lives but our next generation will see converting the world to digital currency. People will feel ease when they use cryptocurrency as their local currency all over the world. |
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ganlianshifu1
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September 20, 2018, 11:58:44 AM |
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As long as there is a country, cryptocurrency is hard to become a universal currency!
Every country must maintain its own economic order. If the cryptocurrency becomes the global currency, this order will be disrupted and the country's economy will be threatened!
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lingwistiko
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╔►[FILIPINO Translator]◄╝
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September 20, 2018, 01:23:38 PM |
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If cryptocurrencies helped improved the economic status of a country as claimed by the countries who embraced the technology, then there will be a significant global economic growth. But that's just so unlikely to happen because those countries who banned cryptos has an irreversible decisions.
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aleksnutis
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September 28, 2018, 08:46:36 AM |
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This is unlikely to improve the country's economy, because banks will not be able to receive such commissions as they are now and will not be able to control cash flows. That is why cryptocurrency is still not accepted.
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tabas
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September 28, 2018, 08:52:55 AM |
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If I only when that day will happen then I'll expose it to the forum but sadly there's no way to determine when its going to happen. Countries that do adopt bitcoin will have a good economy for sure and I won't go with the opposite side of thinking the bad effect of it.
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canej
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September 29, 2018, 08:43:08 AM |
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If cryptocurrencies will become the global official medium of exchange, it will not be separation of the state, it will be a single.
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ricardobs
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September 29, 2018, 10:17:46 AM |
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If and when cryptocurrency finally becomes an official global currency, how do you think it will affect the global economy and the economy of each countries? Will it help improve the economy better than fiat or will it still need help from fiat?
And who said that, you? How did you know that is going to happen, are you time traveler? Meehn… the way some people here try to predict rubbish. You just come here and start saying when Bitcoin becomes currency as if you have seen or heardany government’ body talk about making Bitcoin a global currency,who do you think is ready for that?Fiat will always remain our currency cause it already serves for every purpose for which is needed. Bitcoin is good as it is, there is nothing much. |
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maemunah
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September 29, 2018, 10:22:07 AM |
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It's very hard for cryptos to become global currency as not all the people would be ready to accept the decentralised cryptos not backed by any of the governments.
I also find it hard to replace cash. If the replacement of the amount of cash thrown away? The amount of cash is too much and it boosts the economy. And these two types of money must always be together. They can not be replaced. Yes you are right to some extent that money is being use now in the world, as well crypto, we need to decide what is more beneficial for us, we are involving more and more people in this forum which is clear sign that bitcoin currency is going to be more famous and popular than any other currency, we should not think about it as risk but only a source of income. absolutely right because all this time bitcoin is our place of work to get huge money, so if bitcoin is a global currency, our income and economy are also better and more rapidly growing, of course |
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