@Unity
edited
more from that month
Future of Cryptocurrencies One question haunts every cryptocurrency fan's mind. What is the future of cryptocurrencies? Although all fans (experts, quasi-experts, and enthusiasts) know very well that the end game is unknown, we always say, "The Future is for Cryptocurrencies." Why? The reason points towards one fact. The government taxing systems' tyranny continually loots global citizens' money and freedom. The government regulatory bodies are running legal suits against many cryptocurrency startups. Can decentralization solve all the problems? As it is showing, the current decentralized systems don't seem to be mature enough to tackle all the problems and give the global citizens much-wanted freedom. Money and decentralization don't seem to make a perfect match. Both centralized and decentralized systems have their pros and cons. But, the current use cases of decentralized infrastructure are yielding encouraging results. For example, Bitcoin Cash is showing promise as peer-to-peer electronic cash with high throughput and efficiencies. Bitcoin Cash can tackle many transactions per second. Bitcoin Cash charges minimal fees per transaction. Bitcoin Cash started as a hard fork of the original Bitcoin blockchain. Bitcoin Cash differentiated it from Bitcoin by increasing the block size thereby solving the well-known "scalability" issue of Bitcoin. Bitcoin Cash project demonstrates how technology innovation can result in significant improvements in its performance. There is no hesitation in writing that human knowledge base and technology evolution will decide the future of cryptocurrencies. Can cryptocurrencies replace fiat currencies? Cryptocurrency experts say that cryptocurrencies will replace fiat currencies. The crypto lovers and enthusiasts believe it. The idea of replacing the traditional fiat currency-based financial system seems to be a dream. Can we buy most of our daily utilities, such as food, groceries, dress, electrical and electronic gadgets, medicine, etc., by using cryptocurrencies? Only one restaurant in our city of Kolkata accepts Bitcoin Cash payments. I can buy domain names using cryptocurrencies. Cryptocurrencies' adoption will determine the future. Nobody knows what would happen if the crypto payment process faced an error. Transactions for sponsorships payments are pending for more than a week! If it were large amounts of transactions, it could have been very annoying. Are you unhappy, my crypto expert friends? Please bear with the realities. Closing remarks Cryptocurrencies use cases promise large-scale adoption. The future of cryptocurrencies is in the hands of mass adoption. https://read.cash/@Unity/mass-adoption-will-be-the-key-for-cryptocurrencies-to-succeed-a754cac8 Replacing fiat with cryptocurrencies may not be feasible in the near future. There should also be a mechanism to address errors in crypto transactions. Cross-reference: "Mass Adoption Will be the Key for Cryptocurrencies to Succeed," my earlier article which was published a week ago. https://read.cash/@Unity/mass-adoption-will-be-the-key-for-cryptocurrencies-to-succeed-a754cac8
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17 comments
Unity that is my question too because can we track or see the transactions in the network? If yes then individuals must be working with it as service provider/customer service, if not, then there is no one to ask help for failed or error transactions? Hope they can solve this future situations... I personally believe that we cannot stop this change or advancement when it comes to cryptocurrency. It's measured is infinite and will bring us freedom after a prudent analyzation and balancing the pros and cons. There could be new currency appearing.
Yes. If there is no tracking mechanism for transaction errors, cryptocurrency adoption may fail severely.
They did it like that? I hope it revisable and the system/network will be develop into something better.
I don't think the adoption of crypto currency as a means of currency exchange can eventually work out, though if the adoption eventually comes true, it will be better and efficient, no fake alert anymore
I agree that the mass adoption of cryptocurrencies may not happen so quickly.
Sadly, there are powers who are still opposed to the idea of crypto.
Most governments won't accept cryptocurrencies.
I really Worried about Future of Cryptocurrencies.
We may see it within a couple of years.
I don't think Crypto can replace fiat because no government will give his treasure in hands of common people due to decentralisation of crypto. Secondly what is our literacy rate , how much people using smart phones , how much has coverage of 3G net services.
Yes. Internet coverage and affordability are not to all global citizens. Aged citizens may not be comfortable with digital currencies at all. Very few people have sufficient knowledge to deal with cryptocurrencies.
The state of cryptocurrency is really worrying.
You are correct.
Es preocupante la situación de la criptomonedas, muchos Gobierno no aceptan las criptomonedas
You are correct, friend. Most governments are trying to tax and stop cryptocurrencies.
My understanding about cryptocurrency is somehow limited. But based on observation, I don't see mass adoption of cryptocurrency in the near future yet. Though I read that our incoming set of officials will be starting study on the possibilities of imposing taxes on the cryptocurrency transactions.
I agree. Governments are making new tax laws to impose special taxes on cryptocurrency income.