Kakashi2020 Posted November 5, 2018 Share Posted November 5, 2018 Do Cryptocurrencies have a direct effect on local and or global economy? Does it have a positive or negative affect? Quote Link to comment https://slingbank.com/forums/topic/1598-what-is-the-effect-of-cryptocurrencies-in-the-economy/ Share on other sites More sharing options...
anyone01 Posted November 5, 2018 Share Posted November 5, 2018 Let’s say the sector begins transacting and storing value solely in Bitcoins. In other words, there may be no fiat and central bankers are jobless. No authority within the global can create currency out of skinny air and not directly devalue the difficult-earned currency stashed in our pockets. We're in a long way more manage of our economic lives than ever. up to now, so good. Or so we assume. Quote Link to comment https://slingbank.com/forums/topic/1598-what-is-the-effect-of-cryptocurrencies-in-the-economy/#findComment-2448 Share on other sites More sharing options...
cks003 Posted November 5, 2018 Share Posted November 5, 2018 The block chain technology certainly is bringing positive effect to the overall economy and the world. The main element in any transactions require trust and the technology helps to restore or at least provide an exchange platform that free from theft. The trust deficit is the main reason we have intermediaries such as paypal, bank etc that record all our information. We trust these big institutions can keep our information secret and at the same time facilitate transactions. This arrangement comes with a cost, the information is vulnerable to theft by hackers. The block chain technology requires none of the intermediaries to facilitate transaction. The exchange is done in a decentralised network in which any update or new exchange has to be recored and agreed by all miners in the network. This provides security and ensure safe transaction. Quote Link to comment https://slingbank.com/forums/topic/1598-what-is-the-effect-of-cryptocurrencies-in-the-economy/#findComment-2449 Share on other sites More sharing options...
Martinsx Posted November 5, 2018 Share Posted November 5, 2018 If the economy shifts towards the use of cryptocurrencies, it's definitely going to affect the use of Fiat currencies in a very negative manner. This is actually why most governments are firmly and forced to rule out the approval of cryptocurrency for any reason whatsoever in any transaction. It will affect the tax system. Quote Link to comment https://slingbank.com/forums/topic/1598-what-is-the-effect-of-cryptocurrencies-in-the-economy/#findComment-2467 Share on other sites More sharing options...
menchuuy58 Posted November 6, 2018 Share Posted November 6, 2018 23 hours ago, Kakashi2020 said: Do Cryptocurrencies have a direct effect on local and or global economy? Does it have a positive or negative affect? I believe that there is a good or bad effect in the economy. Depending on how we receive it. For me personally, I take it as a blessing. Quote Link to comment https://slingbank.com/forums/topic/1598-what-is-the-effect-of-cryptocurrencies-in-the-economy/#findComment-2493 Share on other sites More sharing options...
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