Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: EvelynKing on August 30, 2019, 10:41:11 AM
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Is it a good idea to shift to cryptocurrencies for payments? Are we here yet? I have read many articles saying that the future is of digital currencies and we should be using cryptocurrencies instead of cash. But how feasible it actually is? And if so, what are our options of cryptocurrencies that can replace cash?
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Is it a good idea to shift to cryptocurrencies for payments? Are we here yet? I have read many articles saying that the future is of digital currencies and we should be using cryptocurrencies instead of cash. But how feasible it actually is? And if so, what are our options of cryptocurrencies that can replace cash?
Firstly, cryptocurrency can never replace traditional national money, it is simply not capable of this.
Secondly, cryptocurrency has not yet become a common means of payment, and there are many reasons for this. However, at the same time, a lot of stable coins are being created now, which, not being a full-fledged cryptocurrency, can become a serious competitor for it as a means of payment. Therefore, there is a threat that a decentralized cryptocurrency may not take its rightful place as a means of payment. What will happen next - we'll see.
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I don't think if cryptocurrency will replace cash, because you know how volatility crypto is. The government won't allow this. Just make crypto as alternative payment. The fiat should be exist along with cryptos.
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For more faster and innovative settlements cross border payments I think cryptocurrency is far advancing But in terms of traditional usage fiat still the king and cryptocurrency cant easily replace the traditional money But it can thrive both if they want to.
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For now it may not be possible to accept cryptocurrency for payment in the real world because not everybody has the primary knowledge of how digital currency works so therefore it cannot actually replace the use of fiat currency but cryptocurrency can only be accepted as medium of payment through the online transactions.
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I fully support this idea. It is convenient and it is much better than fiat money.
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Cryptocurrency is a future asset that has many functions. Nowadays, there are many major companies that accept payments using Bitcoin. Even in my country, there are already several stores that accept crypto-payments. This is a remarkable form of development. With this kind of development, Cryptocurrencies should be widely known and will attract many investors.
Cryptocurrencies cannot replace cash, but Crypto can be an online payment medium.
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In recent decades, turnover with electronic payments has been growing. However, this is a form of non-cash ordinary national money of states. Now, the states will partially switch to the use of stable coins, which are actually also the digitized money of the states. Decentralized cryptocurrencies of the state and their governments are unlikely to be widely used. In this regard, the usual money of the states will not disappear. A decentralized cryptocurrency cannot replace them.
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Is it a good idea to shift to cryptocurrencies for payments? Are we here yet? I have read many articles saying that the future is of digital currencies and we should be using cryptocurrencies instead of cash. But how feasible it actually is? And if so, what are our options of cryptocurrencies that can replace cash?
Firstly, cryptocurrency can never replace traditional national money, it is simply not capable of this.
Secondly, cryptocurrency has not yet become a common means of payment, and there are many reasons for this. However, at the same time, a lot of stable coins are being created now, which, not being a full-fledged cryptocurrency, can become a serious competitor for it as a means of payment. Therefore, there is a threat that a decentralized cryptocurrency may not take its rightful place as a means of payment. What will happen next - we'll see.
Good point here. Crypto adoption is in its early days, and may not replace fiat for payment. However, if crypto makes a conscious effort in cleaning up its acts, then it stands a chance of being adopted gradually by the populace
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There are still many things to be improved and it needs legalization from governments. However, it already becomes payment tools, right? For example Bitcoin, it is already accepted in some hotels, travel agents, tourism places, and others. 8)
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Transactions using Bitcoin and altcoin have been the talk of many people and the government should support this system, crypto has a blockchain that can store all transaction data, the idea of making Bitcoin is for payment systems, but only a few countries can use it for payments.