Everything should be fine as long as people that got the ability to purchase goods and stuff in supported on their countries will be buying crypto with fiat, which means fiat will still be consumed
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The ease of doing business internationally with bitcoin is one very good thing that it has brought , we Sha also be very free of armed robbery, the use of cash Will be highly minimal because all transactions can be carried out easily.I think that the introduction of crypto is likely to be an advantage for fiat currency because there is something that can substantiate the currency as well and be used as an alternative means of payment. At the same time i think that this can encourage inter country relationships with the ease of transactions with crypto and this may allow the value of the fiat currency and the exchange between the various countries to strengthen.
This is true and that is an advantage in terms of armed robbery however the risk is still very high especially since this is an online currency and these types of currency are prone to hacking. There are many cases in fact where hacking takes place with regards to crypto and many are robbed off a substantial amount of crypto. Therefore in that case I think that risk could be the same or even higher than fiat currency.The ease of doing business internationally with bitcoin is one very good thing that it has brought , we Sha also be very free of armed robbery, the use of cash Will be highly minimal because all transactions can be carried out easily.
You are very much correct honestly, there are risk attached to both fiat and Crypto currencies, conviniency and volatility are the special features that makes all of us stay very active in the word of Crypto currencies and it activities.This is true and that is an advantage in terms of armed robbery however the risk is still very high especially since this is an online currency and these types of currency are prone to hacking. There are many cases in fact where hacking takes place with regards to crypto and many are robbed off a substantial amount of crypto. Therefore in that case I think that risk could be the same or even higher than fiat currency.
Yes the risks that are associated with both are high. And I definitely agree with you in that sense. I think that crypto is so popular because in this day and age when there is a lot of identity theft and so forth, crypto allows you to transact without having to actually worry about sharing your personal information or loading personal information onto a site. It is a simple and straight forward transaction process.You are very much correct honestly, there are risk attached to both fiat and Crypto currencies, conviniency and volatility are the special features that makes all of us stay very active in the word of Crypto currencies and it activities.
A good features of annoymity is very important we don't need to input our card details to make payment online with Crypto currency all we just need is their recipient address and transfer the coins, this makes the wallet safe unlike debit card.Yes the risks that are associated with both are high. And I definitely agree with you in that sense. I think that crypto is so popular because in this day and age when there is a lot of identity theft and so forth, crypto allows you to transact without having to actually worry about sharing your personal information or loading personal information onto a site. It is a simple and straight forward transaction process.
There are some companies that even offer debit cards in the form of crypto, that can be used at any of the visa accepting stores, however this once again requires that you give to your personal information in order to obtain the card and load your funds and so forth, so whilst this might be good in terms of crypto usage, it defeats the purpose of the anonymity that many look forward to.A good features of annoymity is very important we don't need to input our card details to make payment online with Crypto currency all we just need is their recipient address and transfer the coins, this makes the wallet safe unlike debit card.
That's very correct, later this year the central bank digital coin will be launched so there is more hope for Crypto currencies, cashless economy is the next phase of the Economy.If you are observant you would noticed that the world is going cashless and cryptocurrency is the main reason for this. Although it is quite risky but it's worth it.
Let's just sit and watch as everything unfolds. I'm glad I already bought some cryptocurrency for future purposes.That's very correct, later this year the central bank digital coin will be launched so there is more hope for Crypto currencies, cashless economy is the next phase of the Economy.
That's great , you can keep them, buying coins that are like $0.01 or $0.1 for like $50 worth now , if such coin rise by 100% which is very possible in a short because they are still very low in value. You will surely smile. This is one advantage of investing in small coin.Exactly, you're absolutely right on this,
Let's just sit and watch as everything unfolds. I'm glad I already bought some cryptocurrency for future purposes.
Truly the world is advancing and the use of fiat currency is rapidly sliding down but fiat currencies can never be replaced by cryptocurrencies. There’re some business that involves the use of fiat currency as a means of payment. It’s jusy like online and offline business. The world has advanced but offline business is still much requiredIf you are observant you would noticed that the world is going cashless and cryptocurrency is the main reason for this. Although it is quite risky but it's worth it.
This is an excellent way of describing it. In order for there to be a good economic sector both of these need to exist and this will provide maximum benefit by being able to appeal to a larger group of people. This is exactly why fiat needs to be used in conjunction with crypto. Also, without fiat crypto loses a lot of its value which is also a need to have fiat exist in this time as well.Truly the world is advancing and the use of fiat currency is rapidly sliding down but fiat currencies can never be replaced by cryptocurrencies. There’re some business that involves the use of fiat currency as a means of payment. It’s jusy like online and offline business. The world has advanced but offline business is still much required
ThIs thread seems to make sense. I will love to know more about what the original poster is trying to talk about. I'm on the comment sections reading all the comments, I'll love to learn more about the positive and negative effectBitcoin was originally created to serve as another means of currency that alternate the fiat currency and help the dying economy at that time. It’s believed that the increase in the fiat currency printed causes a lot of harms than good to the economy. With a stable amount of bitcoin I believe it has done justice to the supply making it controllable from inflation. Recently most people have found interest in cryptocurrency and they’re investing, saving and trading with cryptocurrency and that’s gradually decreasing the usage of fiat currency.
How do you think this will affect fiat currency? Please state the positive and negative effects
Thanks