Is digital currency powerful?

[justdimin]

Compared to fiat currency, Digital currencies are very powerful in-terms of control. You can control your own coin. There is no interference from the government, no one can rob it or counterfeit it. You can use it globally and expand your business internationally. I don't find anything more powerful than this! what is your thoughts on it !

Most probably, you mean cryptocurrencies, not digital currencies, since nearly all fiats are digital too (all the banking systems operate with digital transactions). The main benefit of cryptocurrencies is data security, since cryptocurrencies are highly decentralised, its really a benefit, that's right!

Yes i am talking about cryptocurrency, fiats are digital too but crypto has more benefits compered to fiat.

Great that you cleared it out but I wouldn't call fiat a digital currency just like that because fiats are originally offline or has physical properties but later on fiat do also have their own digital version. We are now in an era where many people are using digital money. Cryptos are also a kind of digital currency.

We that are here in the forum mostly preferred it. That is because it can give us an income. Either by working in a crypto job or by investing, trading, staking, etc... on it. About the advantage of fiats I think it is more regulated and it is possible for us to get a refund once we got scammed or accidentally sent our money to a wrong address. They are also quicker and has less or no fees some times. This is why I sometimes use it apart from my cryptos.

[NeilLostBitCoin]

Compared to fiat currency, Digital currencies are very powerful in-terms of control. You can control your own coin. There is no interference from the government, no one can rob it or counterfeit it. You can use it globally and expand your business internationally. I don't find anything more powerful than this! what is your thoughts on it !

But the thing is we are the who will be fully responsible for that since we don't have any agency or govt that we can go to if things get bad because they cannot trace it nor they cannot see who will be the one who stole your assets. Digital currency is powerful and good result of innovating technology but just like other technologies it has a flaws and we should know and learn even the basics of it.

[Wiwo]

Compared to fiat currency, Digital currencies are very powerful in-terms of control. You can control your own coin. There is no interference from the government, no one can rob it or counterfeit it. You can use it globally and expand your business internationally. I don't find anything more powerful than this! what are your thoughts on it?

Fully decentralized digital currencies like bitcoin, give the holder total control over the coins and this is what we have seen with a few other decentralized digital currencies we have around, their advantages are so numerous to the point that their users become their bank free from all third-party involvements.

Just like the first reply stated, centralized digital currencies e.g USTD BUSD are not in that categories of digital currency that give holder total freedom since your coin can still be freeze.

[riskarcher]

Compared to fiat currency, Digital currencies are very powerful in-terms of control. You can control your own coin. There is no interference from the government, no one can rob it or counterfeit it. You can use it globally and expand your business internationally. I don't find anything more powerful than this! what are your thoughts on it?

Fully decentralized digital currencies like bitcoin, give the holder total control over the coins and this is what we have seen with a few other decentralized digital currencies we have around, their advantages are so numerous to the point that their users become their bank free from all third-party involvements.

Just like the first reply stated, centralized digital currencies e.g USTD BUSD are not in that categories of digital currency that give holder total freedom since your coin can still be freeze.

I think the idea is unique but we all know Consequences of decentralize which is only us should responbility for the digital cuurencies we have, Because there is no insurance for losing our digital money from the goverment and it's risky for someone who don't know how to safe their asset and Potentially hacked

[Bitstar_coin]

So powerful that those in power don't like the idea of having it around because for the first time people have the opportunity to control their funds, the power has shifted with a good margin from the bank, people no longer trust them as before thanks to the existence of digital currency.
So yeah, strong digital currency like bitcoin is very powerful to the point the government are fighting it by any means necessary, so many fuds about btc have been created all to scare people away but instead the demand is growing stronger.

[Bushdark]

Of course, it is strong because it is behind and has been developed and improved much more than previous generations. You should use them to get a better feel for this. While it is true that these novelties really give us new concepts, they still have many downsides, such as security, regulation, and volatility, which will be addressed to some extent. There is therefore a need for technological advancements, regulatory frameworks, and increased awareness and understanding of cryptocurrencies that can contribute to mitigating these challenges and help overcome these obstacles and exploit the potential benefits of digital currency.

The power 9f cryptocurrency is growing gradually and soon crypto is going to be power that what we have ever imagine. The government is the major obstacle for the cryptocurrency market because they always want to know the in and out of everything. There are lot of crypto projects that the government had cracked down because of one reason or the other. If so much power is given to cryptocurrency, fiat currency would not have strength to compete with crypto since we have so many cryptocurrency projects in the market that have strong management team anf unique utility.

[Z390]

Compared to fiat currency, Digital currencies are very powerful in-terms of control. You can control your own coin. There is no interference from the government, no one can rob it or counterfeit it. You can use it globally and expand your business internationally. I don't find anything more powerful than this! what is your thoughts on it !

No one can rob it or counterfeit it? What about the dev? They have the power to manipulate the smart contract themselves, have you seen some tokens that the developer increase and decrease the percentage of the tax from time to time?

Let's talk about rugpulls happening in crypto space, do you know how many thousands of project have ruined the lives of many? That's why you only need to introduce Bitcoin to anyone that are closer to you, because Bitcoin is the most trusted and most reliable among the all, if you introduce alternative coins, you are at risk of losing your reputation in front of your friends and all those you introduce the coins to.

[bayu7adi]

No one can rob it or counterfeit it? What about the dev? They have the power to manipulate the smart contract themselves, have you seen some tokens that the developer increase and decrease the percentage of the tax from time to time?

Let's talk about rugpulls happening in crypto space, do you know how many thousands of project have ruined the lives of many? That's why you only need to introduce Bitcoin to anyone that are closer to you, because Bitcoin is the most trusted and most reliable among the all, if you introduce alternative coins, you are at risk of losing your reputation in front of your friends and all those you introduce the coins to.

Is what you're referring to an altcoin?
Until now, there have been numerous scams associated with altcoins, particularly cases where developers abandon their projects, leaving them in a state of neglect. The pinnacle of this phenomenon was witnessed during the ICO hype when a multitude of new tokens and coins emerged.

Upon reflection, it becomes evident that Bitcoin is the safest cryptocurrency. This conclusion is highly logical considering that Bitcoin has never been involved in any fraudulent activities. Presently, Bitcoin is predominantly favored by major investors over altcoins due to its proven track record.

Therefore, in my opinion, cryptocurrency is a secure form of digital currency, immune to fraud and deceit, but this assertion solely applies to Bitcoin.  That is an indisputable fact.

[Fivestar4everMVP]

Compared to fiat currency, Digital currencies are very powerful in-terms of control. You can control your own coin. There is no interference from the government, no one can rob it or counterfeit it. You can use it globally and expand your business internationally. I don't find anything more powerful than this! what is your thoughts on it !

When you say that no one can rob it, it pretty much depends on how you manage to secure your wallet from hacks, and if you are the type that keeps your bitcoin on the centralized exchange or a custodial wallet, have it in mind that if the exchange or the wallet is hacked, your coins are gone - I've had my wallet hacked and all my bitcoins stolen simply because I exposed my wallet pass phrase online, so indeed, your bitcoins can be robbed off from your if you do not take necessarily security precautions.

And secondly, on the issue of counterfeit,  there are alot of counterfeited bitcoins out there in the form of wrapped bitcoin and so on, buying and holding such coins can never give you the feeling which holding the true bitcoin gives, so for me, I would say that counterfeit bitcoin, and many other coins are flying around every day, and this counterfeited coins are mostly sold on decentralized exchanges, so always do your research before anything else, and remember, not your keys, not your bitcoin/crypto.

[MinoRaiola]

Compared to fiat currency, Digital currencies are very powerful in-terms of control. You can control your own coin. There is no interference from the government, no one can rob it or counterfeit it. You can use it globally and expand your business internationally. I don't find anything more powerful than this! what is your thoughts on it !

Any money that can be taken from anyone with just a few press on his Keyboard is powerful. You can manage cash, gold and bitcoin completely yourself, that is powerful for me. Unfortunately most people dont understand that yet, they trust fist and paper with a number on it. I hope bitcoin can bring people more money-freedom. No one is 100% safe when someone else managing his money.

[Myleschetty]

Compared to fiat currency, Digital currencies are very powerful in-terms of control. You can control your own coin.

Digital seems to be powerful because of its limited supply, block halving, and some other things that control inflation. However, you can only control your own coin if you keep it in a non-custodial wallet.

There is no interference from the government

This is not applicable to all digital currencies that are not decentralized an example is XRP. As you can see there's currently government interference as we speak.

no one can rob it or counterfeit it.

It all depends on your security knowledge and how you avoid human error.
 

[loopes]

Compared to fiat currency, Digital currencies are very powerful in-terms of control. You can control your own coin. There is no interference from the government, no one can rob it or counterfeit it. You can use it globally and expand your business internationally. I don't find anything more powerful than this! what is your thoughts on it !

You should to distinguish between digital currencies and crypto currencies . If you think that both of them are same it is not correct enough. not all digital currencies are crypto currencies. but all of the crypto currencies are included in the digital currency basis.
So my point is not all of digital currencies have a feature of full control, my government will build a fiat digital currencies and it is not fully control

[bayu7adi]

Digital seems to be powerful because of its limited supply, block halving, and some other things that control inflation. However, you can only control your own coin if you keep it in a non-custodial wallet.

From what I know, it is the limited supply characteristic of Bitcoin that sets it apart. Bitcoin can be considered a digital currency, but not all digital currencies necessarily encompass Bitcoin. Therefore, not all digital currencies have a limited supply.

E-Money, on the other hand, represents money in digital form, making it a digital currency. However, E-Money does not have a supply limit since it is essentially digital FIAT currency. Moreover, block halving is unique to Bitcoin and does not occur in E-Money.

Remember, cryptocurrency is a subset of digital currency, and digital currency does not necessarily possess the qualities you mentioned (which specifically refer to Bitcoin and cryptocurrencies).

[Zilon]

if we say there is no government intervention, it is also not true, because if it is on the blockchain network it is true that there is no intervention, but in its distribution to the people, the government can intervene, like in china where the government intervened in Bitcoin and ensured that it illegal to transact Bitcoins in their area.

I don't think this is the actual intervention OP is talking about. Intervene in the sense that no third party is needed for your transaction and even if we are to go by your own narrative of Chinese government placing a ban on Bitcoin that doesn't mean Chinese citizens can't own some coin still, The will just that the will have to work with decentralised exchanges to make their transactions and the will not have to convert to Yaun for any reason but their coin in their wallets remains safe

[KiaKia]

Compared to fiat currency, Digital currencies are very powerful in-terms of control. You can control your own coin. There is no interference from the government, no one can rob it or counterfeit it. You can use it globally and expand your business internationally. I don't find anything more powerful than this! what is your thoughts on it !

Digital currencies are very risky, your opinion should be based on Bitcoin, not the general Digital currencies, because the majority of them are scam projects, giving out such advice will be misleading for some newbies on this forum, because they will believe that you are talking about all available Digital currencies, were as, thousands of those digital currencies out there are made for selfish gains purposes.

Some projects in crypto space are controlled by centralized organizations, which makes them controllable by the government, because the government finds it easier to work with or control anything that's based on centralization

[Iadegbola34]

Let us discuss digital currencies such as cryptocurrencies and how they compare with regular money. One cool thing about them is that you actually own your own coin. You don't need banks or anyone else getting in the way of your transactions. It's like having full control!

These digital currencies are also super-secure because they are built on a fancy tech called cryptographic protocols. This makes it difficult for anyone to fake or mess with your transactions. No more worries about counterfeit money or shady dealings.

But hey, digital currencies have their own problems too. One major issue is how their prices can rise and fall, similar to a rollercoaster. This can be a real challenge for businesses trying to keep their revenues and profits stable.

And here's the thing: laws and rules around digital currencies are still being figured out in many places. It's a bit of a gray area, which means there could be some confusion and extra stuff you have to do to make sure you're following the rules.

So, yeah, digital currencies have their advantages, but you gotta be aware of the potential downsides too. It's all about weighing the pros and cons based on what works best for you and your business.

[ZAINmalik75]

Digital currencies are very risky, your opinion should be based on Bitcoin, not the general Digital currencies, because the majority of them are scam projects, giving out such advice will be misleading for some newbies on this forum, because they will believe that you are talking about all available Digital currencies, were as, thousands of those digital currencies out there are made for selfish gains purposes.

Some projects in crypto space are controlled by centralized organizations, which makes them controllable by the government, because the government finds it easier to work with or control anything that's based on centralization

I agreed about this now digital currency is risky as we have too many problems with projects and developers and now things are completely changing around the world with many centralized currencies are also around us which are traceable and developers can freeze our wallets and coins as well which mean now we are not powerful.

Recently we have too many developments which are working under governments, and they are also bringing policies which are not favourable for the common users because with current developments all digital currencies are under strict control of powerful peoples, and they can do anything when they need to destroy our financial independence just few currencies are safe, but they are also trying to control us with their own way.

[nullama]

~snip~
Digital currencies are very risky, your opinion should be based on Bitcoin, not the general Digital currencies, because the majority of them are scam projects, giving out such advice will be misleading for some newbies on this forum, because they will believe that you are talking about all available Digital currencies, were as, thousands of those digital currencies out there are made for selfish gains purposes.

Some projects in crypto space are controlled by centralized organizations, which makes them controllable by the government, because the government finds it easier to work with or control anything that's based on centralization

Yeah, basically Bitcoin should be treated in a different way because even though it is a digital currency, it has many more properties that separate it from the rest, like being decentralized, not having a leader, etc.

Most other projects are basically a company that has no regulations. I think they are extremely risky and most don't even have a reason to exist other than to extract the money from people that don't understand actually what's going on.

[coinremitter]

These are just the characteristics of bitcoin. Dawn are the days of centralised coins. If you have altcoins, like binance coin, usdt and other stable coins like usdc, busd, know that their creators can freeze your coins on noncustodial wallet. Do not generalized.

While Bitcoin indeed embodies the ideals of decentralization, it's crucial to acknowledge that the cryptocurrency landscape is diverse. Many altcoins, including Binance Coin, USDT, USDC, and BUSD, operate on different principles. These stablecoins often rely on centralized entities to maintain their stability.

Users must be aware that with such coins, there exists the possibility of freezing assets in noncustodial wallets, as their creators have control over the issuance and management of these tokens. At https://coinremitter.com/?utm_source=com&utm_medium=bitcointalks, we believe in empowering users with information and choice.

It's important to differentiate between decentralized and centralized cryptocurrencies. Always make informed decisions when choosing your assets and wallets, considering your specific needs and the level of control you desire over your funds. We are here to provide support and enable seamless transactions for the crypto community. Feel free to reach out with any questions or concerns.

[coinremitter]

I don't accept the fact that you have generalized it.
In terms of control not all digital currency are decentralized so it's not safe to use that term, the fact that governmenr are unable to conttrol it does not make it free from the control of those (non-government) in charge of it.
I would apreciate next time if you're to make a similar post use "Bitcoin" instead. Digital currency include both bitcoin and altcoins, and I'm pretty sure that you and I know that there are some coin or token that are centralized take BNB for example and that make your thread incorrect.

I appreciate your feedback and clarification regarding the terminology used. You're absolutely right; not all digital currencies are decentralized, and it's essential to distinguish between Bitcoin and other centralized cryptocurrencies like Binance Coin (BNB).

In the context of our crypto payment gateway, Coinremitter, it's crucial to emphasize that we support various cryptocurrencies, including both decentralized (like Bitcoin) and centralized (like BNB) options. We understand that the decentralization aspect primarily applies to Bitcoin, and we appreciate your correction.

Our aim is to provide a versatile payment solution that accommodates the needs of businesses and individuals using a wide range of digital currencies, whether they are decentralized or not. If you have any specific questions or concerns related to https://coinremitter.com/?utm_source=com&utm_medium=bitcointalks or any cryptocurrency payment processing matters, please feel free to ask, and we'll be more than happy to assist you further.