justsimpleram
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Activity: 462
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October 08, 2018, 09:02:50 PM |
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For me bitcoin is one of the most and top crypto that can lead the crypto to be known all over the world but bitcoin price is not that stable it can go up so high and then it can go down very low. Not like gold or fiat there price are stable and that like bitcoin can pump or dump price. And your bitcoin can hack anytime if careless.
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Finestream
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October 08, 2018, 09:48:39 PM |
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For me bitcoin is one of the most and top crypto that can lead the crypto to be known all over the world but bitcoin price is not that stable it can go up so high and then it can go down very low. Not like gold or fiat there price are stable and that like bitcoin can pump or dump price. And your bitcoin can hack anytime if careless.
Yes.Bitcoin is such a good investment and a currency at the same time.But due to its volatility,the government might find it hard to legalize it because its price is always subjected to change that will surely cause more pressures to the people.And fiat currency won't be given high importance anymore knowing bitcoin is there as another form for payment system. |
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Dean Collins
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October 08, 2018, 10:54:02 PM |
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I think the biggest problem is the weak controllability of cross-border transfers. National banks and other supervisory and monitoring authorities in national payment systems cannot supervise and control the issuance of Bitcoin, the implementation of transactions in this currency, services and electronic exchanges that provide services for performing Bitcoin transactions.
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Ale88
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Activity: 2380
Merit: 2373
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October 08, 2018, 11:36:02 PM |
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If and when cryptocurrency and/or bitcoin becomes the official currency of the world, do you think there will be a downside to it? If so, what do you think the negative effect will be once cryptocurrency becomes a worldwide currency?
At the moment the biggest downside of the cryptocurrencies is the way they are stored, you only need a little distraction or a wrong click and you can lose part of your funds or all your funds. For example with a bank trasferimento you need both the IBAN or routing number and the name of the person/company, so you should be wrong twice, with the public addresses well, I understand it's just a copy-paste but you never know... |
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Zooplus
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Merit: 1000
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October 09, 2018, 12:03:47 AM |
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For me bitcoin is one of the most and top crypto that can lead the crypto to be known all over the world but bitcoin price is not that stable it can go up so high and then it can go down very low. Not like gold or fiat there price are stable and that like bitcoin can pump or dump price. And your bitcoin can hack anytime if careless.
Yes. You can lost all your bitcoins even with a single wrong decision.Once bitcoin will be accepted as a legal currency worldwide,it will be of high popularity and has high chances that people will not patronize fiat currency in the long run.So this will make a threat to the government knowing they can't controlled bitcoin because of its decentralized nature. |
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Nick Abimanyu
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October 09, 2018, 01:14:59 AM |
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Basically bitcoin is the media which's more appropriate and can comply, with various aspects of banking and finance rather than currencies supported by central banks, especially for those who don't have bank accounts and small-scale international trade players. On the other hand, bitcoin's able to combine the principles of social benefits, positive externalities and we can also make it as opposed to the risk of shifting values. The presence of Negative Effects will usually be found as time goes by.
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Allura74
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October 09, 2018, 02:15:20 AM |
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Basically bitcoin is the media which's more appropriate and can comply, with various aspects of banking and finance rather than currencies supported by central banks, especially for those who don't have bank accounts and small-scale international trade players. On the other hand, bitcoin's able to combine the principles of social benefits, positive externalities and we can also make it as opposed to the risk of shifting values. The presence of Negative Effects will usually be found as time goes by.
Still possibility of making crypto currency particularly bitcoin as the universal currency because every nations will protect its own currency since it will determine the status of every country, but still I believe that somewhere in the future it will happen when blockchain dominate the entire digital technology. |
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binhvo1505
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https://streamies.io/
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October 09, 2018, 02:27:48 AM |
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If and when cryptocurrency and/or bitcoin becomes the official currency of the world, do you think there will be a downside to it? If so, what do you think the negative effect will be once cryptocurrency becomes a worldwide currency?
I think now is not the time to discuss this. Because the beautiful future of Bitcoin is far away. We need to tackle more serious issues such as fraud, lack of stability, and consistency in market manipulation. If those problems are solved in the best way, let's discuss this distant issue. |
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Stavvay
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October 09, 2018, 09:00:14 AM |
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don't you think the main downside is there are no regulations? I think there's a long way to go before we put all our eggs into one basket and withdraw all our savings from a bank!
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Darz299
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October 09, 2018, 12:13:46 PM |
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I think Digital money cannot be the single currency of the world, because it is decentralized, which is not controlled by anyone. But crypto currencies can remain a means of payment for some services or goods,
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Shresherya
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October 09, 2018, 12:43:49 PM |
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It's hard for Bitcoin to become the official currency of one country, much less to be a global currency. And of course, like everything in the world, which is always imperfect, Bitcoin has some drawbacks. The Bitcoin system could contain unexploited flaws. As this is a fairly new system, if Bitcoins were adopted widely, and a flaw was found, it could give tremendous wealth to the exploiter at the expense of destroying the Bitcoin economy.
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waynechong1995
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swing!
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October 09, 2018, 01:38:39 PM |
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There's no need to, as you the market is now striking for adoption, thats where cryptocurrency could sustain good value and grow as investments, downsides of crypto are pretty obvious, its volatile and might lose all your money if it fails. No government would go easy on bitcoin as there's so much to gain with a growing instrument, as investors you either look long or just play along with market trends for profits.
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Gotomoon
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October 09, 2018, 02:01:00 PM |
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Downsides of crypto among many includes price volatility some caused by market manipulations something that does not happen with any fiat currency. Plus the governmental issues.
This one can be a downside the volatility of the price that it may down and up. And other crypto can be use in illegal activities. Exactly these are the downside to crypto but still can be use by many and cannot be the main currency. |
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calandra78
Copper Member
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October 09, 2018, 02:08:00 PM |
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It's hard for Bitcoin to become the official currency of one country, much less to be a global currency. And of course, like everything in the world, which is always imperfect, Bitcoin has some drawbacks. The Bitcoin system could contain unexploited flaws. As this is a fairly new system, if Bitcoins were adopted widely, and a flaw was found, it could give tremendous wealth to the exploiter at the expense of destroying the Bitcoin economy.
cryptocurrency does have many weaknesses, but we must be able to deal with it patiently and hard work, if we want to always get a profit. an example of crypto's weakness, it has unstable values, money laundering tools, and so on |
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maianh09
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October 09, 2018, 02:15:33 PM |
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The downside of cryptocurrency is the price instability and it's easily manipulated by people who own them in large numbers. But this is also the advantage of Cryptocurrency that every investor interested in taking advantage of this will quickly earn a profit.
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bitcoinVPSD
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October 09, 2018, 02:20:28 PM |
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I think the biggest disadvantage of bitcoin before it becomes the official currency of the world is that the value of bitcoin is constantly fluctuating. I think if bitcoin prices constantly change this will make the bitcoin payments unstable. Whales who hold the most bitcoin will create price fluctuations so that they can bring in profits for them
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royal. Crypto
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October 09, 2018, 02:25:31 PM |
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According to my oopinion, each country has its own economy and its currency, confirmed by a gold reserve. Digital money can’t become a single world currency, because they are decentralized in the world
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Spider A4
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October 09, 2018, 03:00:23 PM |
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Crypto market is high volatility from another stock exchange this is big downsides in my opinion. All transaction is hidden so there are no legal sources. Money laundering can be possible in crypto and we are got many news this type. Government is not giving consent to legalize it.
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ongkok87
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October 09, 2018, 03:12:11 PM |
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Crypto market is high volatility from another stock exchange this is big downsides in my opinion. All transaction is hidden so there are no legal sources. Money laundering can be possible in crypto and we are got many news this type. Government is not giving consent to legalize it.
therefore, with the many who purify state money, the government is still very difficult to legalize crypto because it is hidden and cannot be seen by me other than the owner |
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rathaha10
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Activity: 616
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io.ezystayz.com
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October 09, 2018, 04:59:18 PM |
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The biggest problem of crypto is that you can easily lose your coins. Like forgetting your key, getting scammed and sending to the wrong address. If you have one of these problem than it is difficult to get your coins back. You cannot contact someone and ask them to stop the transaction/refund, if you had a bank account then it would be possible.
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