Josemendez
Verified member
The coming of cryptocurrency has to an extent affect the use of fiat currency.
many investors have resort to saving their money in cryptocurrency rather than in fiat currency . the reasons can be attributed to the fact that Cryptocurrency is highly volatile ,and can hide one from government taxation.
Many investors of cryptocurrency are demanding that Cryptocurrency should be given a worldwide acceptance , however this may not come easily because of these reasons ;
1. It is built on blockchain ,thus government will not have control over it , and this will discourage government from accepting it ,because they won't want to have a currency that they can't control.
2. The high volatility of the cryptocurrency ,is something else that have discouraged some countries from accepting it.
3. it's annoymous nature.
many scammers have capitalized on the annoymous nature of cryptocurrency ,to carry out scamming activities , and this is a reason why some government are not comfortable with crypto.
I. your opinion , do you think that Cryptocurrency can be generally accepted one day ?
many investors have resort to saving their money in cryptocurrency rather than in fiat currency . the reasons can be attributed to the fact that Cryptocurrency is highly volatile ,and can hide one from government taxation.
Many investors of cryptocurrency are demanding that Cryptocurrency should be given a worldwide acceptance , however this may not come easily because of these reasons ;
1. It is built on blockchain ,thus government will not have control over it , and this will discourage government from accepting it ,because they won't want to have a currency that they can't control.
2. The high volatility of the cryptocurrency ,is something else that have discouraged some countries from accepting it.
3. it's annoymous nature.
many scammers have capitalized on the annoymous nature of cryptocurrency ,to carry out scamming activities , and this is a reason why some government are not comfortable with crypto.
I. your opinion , do you think that Cryptocurrency can be generally accepted one day ?