Why Digital Currency is not a thing of tomorrow

in bitcoin •  8 years ago 

I have started investing in Bitcoin and Ether , yes I paid USD to buy these digital currencies and I am very consciously not using the word "crypto" , it is too close to "creepy" and I do want more and more people to enter the world of digital currency, stepping away from fiat currency or the coupon we grew up with called "money". Although I believe in crypto currencies or digital currencies, but I do not think those government backed coupons known as dollar / euro / lira / yen / rupee will go away. It is simply not possible at this moment , and here are few reasons -


1. Until people understand blockchain, they will not understand full potential of digital currencies 

2. Very few people know about bitcoin, and the less they know, the less they willunderstand it and the less the will trust it

3. We are investing less and speculating more, as if we are back in internet boom era again, everybody wants to mine some coin, without even knowing the background, idea behind it - prime example would be myself , I know about bitcoin and etherium blockchain , all I know about steemit that it became popular in past few weeks, and all I am thinking about is MONEY. This is not the right approach for long term , I can tell you that.

4. Not everyone has access to internet or a smart phone, to move to a digital currency society, the least anyone will need is a smartphone with internet, and the beauty of digital currency is it is not supposed to be for a particular country or region, this can be used globally , but to use it we need certain infrastructure, I do not think that will be ready before 2030. 

5. Fiat promoters are too powerful at this point of time. If government wants, they can bring this digital currency economy tomorrow, and they will have a reason, as bitcoin users started gambling with bitcoin since that is not possible with USD. So, fingers crossed , I really do not want my investment to go down to zero 

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Thanks :)