Why Digital Currencies Should Be Adopted Globally

[seoincorporation]

...because this will definitely solve the challenges people are facing in some countries like Nigeria right now. With digital currency no need to depend on banks again...

You have a good point here, the bitcoin slogan is "Be your own bank" and as you mention this is an awesome option for 3rd world countries. But there is something that you need to understand, crypto users need the Internet. Bitcoin and Cryptos without the internet are almost impossible to make it work, and I say almost because some people have found a way to send transactions with Radio waves but is a complex task. So, first we need to solve the internet problem before the economic problem.

[suzanne5223]

I can't wait for Bitcoin and other cryptocurrencies to become widely accepted globally because this will definitely solve the challenges people are facing in some countries like Nigeria right now.
With digital currency no need to depend on banks again, which will go a long way to make life better for the masses out there.

Yes, if Bitcoin and cryptocurrencies are accepted as payment in the country in subject people won't need to depend on the Commercial and Central Bank but cryptocurrency is never the answer or solution to every challenge people are facing around the world.
Having said that, if you're waiting for crypto to be globally adopted will have to wait for decades cause the decentralized aspect of crypto is against the government rules and regulations of some countries.

Imagine what Nigerian people are currently going through over a new monetary policy. People can't get the money they put in banks, and the masses are passing through hell at the moment. I believe Bitcoin and cryptocurrencies are what we all need to make life better.

They are probably doing this for their selfish gain. They will be able to have more money to lend to the rich folks and make more money for themselves.

[bittraffic]

Digital currencies will be adopted everywhere, it's a gradual process and it doesn't even need a government's permission because it's borderless. 5 to 10 years maybe the people who have not heard of Bitcoin yet will also be learning about it.

Even countries with very strict rules about crypto like China was considering lifting the ban. They might be forced to lift the ban when all other countries are going to be using digital currencies after all they plan Hongkong to be a crypto hub.

[AakZaki]

~snip~
Having said that, if you're waiting for crypto to be globally adopted will have to wait for decades cause the decentralized aspect of crypto is against the government rules and regulations of some countries.

I didn't expect more so that Bitcoin/crypto became legal tender. The undeterred and legal condition as an asset commodity has made me happy. In accordance with your argument, I also agree that in the near future it will be difficult to realize. The current slack has already helped me improve my family's economy. So someday for example it will become a legal transaction tool it will be very pleasant but because it goes against the regulations it will be difficult to realize.

[Rruchi man]

I can't wait for Bitcoin and other cryptocurrencies to become widely accepted globally because this will definitely solve the challenges people are facing in some countries like Nigeria right now. With digital currency no need to depend on banks again, which will go a long way to make life better for the masses out there.

Your intentions are good, but I do not think you have a proper understanding of the subject, If you did you will know that "digital currency" does not only mean bitcoins and cryptocurrency. People do not only need to carry physical fiat around to be able to transact, with bank transfers on a good day without network challenges, you are good to go.

I believe Bitcoin and cryptocurrencies are what we all need to make life better.

Bitcoin adoption will not magically make life better. Imagine going to a nearby shop to buy something very little, how willing will you be to pay with your bitcoins?

[kryptqnick]

Bitcoin and other cryptos can be more attractive in some places and less in others. If it's a country with very low Internet penetration, online payments aren't really a priority there. If it's a country with a high level of digitalization but people trust in their economy and banks very rarely let people down, Bitcoin will have a hard time competing against online banking as well. But if there's enough Internet users, smartphones are quite common, while the trust in the banks is relatively low and/or local fiat is suffering from heavy inflation and people would love to have an alternative, such conditions can be good for Bitcoin adoption.

[vv181]

I can't wait for Bitcoin and other cryptocurrencies to become widely accepted globally because this will definitely solve the challenges people are facing in some countries like Nigeria right now. With digital currency no need to depend on banks again, which will go a long way to make life better for the masses out there.

An adoption could be reached if there is a utilization among its features, no matter how big or small if some people or community uses bitcoin as a way of payment, the adoption could spark from there. One shouldn't wait for other to accept or uses bitcoin, instead, they can initiate to offer or give exposure about bitcoin. With that in mind, the awareness of bitcoin itself will evolve, thus an adoption might come later.

The point is to initiate, instead of waiting until it is widely accepted.

[Flexystar]

I can't wait for Bitcoin and other cryptocurrencies to become widely accepted globally because this will definitely solve the challenges people are facing in some countries like Nigeria right now. With digital currency no need to depend on banks again, which will go a long way to make life better for the masses out there.

Imagine what Nigerian people are currently going through over a new monetary policy. People can't get the money they put in banks, and the masses are passing through hell at the moment. I believe Bitcoin and cryptocurrencies are what we all need to make life better.

What is the wait here? Crypto currency is free stuff in terms of its usage. You can just grab and start exchanging it for the daily things. The challenge is not everyone in the Nigeria is willing to do it because they do not have enough infrastructure for that. That is the only restrictive factors for them. You need to have constant internet connection so that you can trade with bitcoin and have that peer to peer technology.

Right now if this situation would have been in any other country with proper infra then there was high chance of bitcoin's adoption. In Nigeria banks are just demonetizing and trying to revise the way their currencies are exchanged in terms of "value".  However, there is not much restrictions on how much you can spend using your internet banking.

I am not sure where are those guys now, who used to post the pictures of bitcoin banks getting opened up in Nigeria for easy trading. They can really help out nigerians in this situation and make bitcoin adoption far more stronger.

The picture was literally posted here on the forum few weeks ago, where it clearly mentioned about the physical presence, address, and what they are doing with the bitcoin. Trade, exchanges, with all available facility that is cash or digital money. They should really jump in!

[isaac_clarke22]

~

With digital currency, government will also try to regulate the usage of it since their people are moving away from banks so maybe I'll pass on that, OP. I know that you're looking for mass adoption, but there's plenty of ways to make that happen aside from just making it a "global currency".

We're using Bitcoin due to its decentralized nature, so having government regulate it is a bad idea. Don't expect that the authorities would just sit there watchin their people go away from centralized or regulated stuffs.

[Japinat]

It is unlikely that we will catch this time. There are huge chances that this will not happen at all. Since so many factors affect bitcoin, many of them are negative, and the state cannot accept something that has a bad reputation.

It really depends on what era you are born in, but I'm pretty confident that you and I can somehow witness bitcoin to be adopted and widely used at least 70 percent globally. And while you are right on your statement that there are plethora of factors to consider first, many of which are negative, but we can't also deny the fact that there's indeed more positive about it. And what do you mean by a bad reputation? That kinda makes me confuse.