Is Bitcoin taking over as the new currency?
@leighnyork (1880)
May 28, 2023 11:12am CST
Hello, my fellow friends,
Today my friends and I were discussing the emergency of Bitcoin, For many people say it has been for a while but for me, I have just recently heard about it.
since bitcoin is basically electronic and as I can say cashless, being this is its nature making it a digital currency, with its value very high, don't you think that this cryptocurrency is taking over all the currency, I mean recently I learned that the cryptocurrency is not really controlled by the government
what do you think about crypto currency?
14 people like this
14 responses
@Treborika (17853)
• Mombasa, Kenya
28 May 23
Yes definitely it can never take over
1 person likes this
@leighnyork (1880)
•
28 May 23
Really have people started using crypto currency in your place
1 person likes this
@crossbones27 (49723)
• Mojave, California
28 May 23
Yeah, thats what they want you to think but cryptocurrency is doing very poorly overall. It was doing good but many people have been saying its just not trustworthy enough and sure enough many went bankrupt and people lost a lot of money.
If it is rebounding, I am not sure, but why would anyone invest in that when they have so many problems. It was originally supposed to bring economic stability, but of course it was not meant for everyone because people greedy and why people never trusted it in the first place.
2 people like this
@crossbones27 (49723)
• Mojave, California
28 May 23
@leighnyork As I always say, you never know, keep an eye it, but I am not touching it until I see with my own eyes its trustworthy.
1 person likes this
@leighnyork (1880)
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28 May 23
I too don't really trust crypto currency but let's see what is in store for us
1 person likes this
@LadyDuck (472114)
• Switzerland
29 May 23
@leighnyork All the Governments must agree, as currencies must be regulated to avoid speculation on the money market.
1 person likes this
@leighnyork (1880)
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29 May 23
Really but I hear soon the government will take over bitcoin and control it
1 person likes this
@LindaOHio (181675)
• United States
29 May 23
I think it's a very risky investment; and it has been very low for quite a while. Be careful!
2 people like this
@leighnyork (1880)
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29 May 23
I'm always careful, but will the government make it as the currency
1 person likes this
@astutimeliana723 (4667)
• Indonesia
28 May 23
I am sorry. I don't know about it. In my country never hear someone talk about it. 
2 people like this
@astutimeliana723 (4667)
• Indonesia
29 May 23
@leighnyork That's okay. Thank you.
1 person likes this
@leighnyork (1880)
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29 May 23
OmG but still for me it's a new thing don't worry you will hear it soon
1 person likes this
@May2k8 (18391)
• Indonesia
31 May 23
@astutimeliana723 actually 5.5 million of your countries are talking about this, and Indonesia also has its own cryptocurrency, namely IDK which is backed up by one thousandth of a rupiah denomination.
1 person likes this
@Jenaisle (14078)
• Philippines
29 May 23
@leighnyork No, the government will never agree
1 person likes this
@leighnyork (1880)
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29 May 23
Wow that is a strong position, what if the government orders for everyone to use bitcoin
@leighnyork (1880)
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31 May 23
@Jenaisle really, let's see, I read that the government might consider
1 person likes this
@May2k8 (18391)
• Indonesia
29 May 23
The first cryptocurrency that was issued was Bitcoin and it seemed not enough that every few years there would be a new coin. Technological developments create digital wallets that use Blockchain as a transaction medium.
Even though Bitcoin was created in 2009, it still experiences updates from year to year.
Without us realizing it, it has been implemented here.
1 person likes this
@May2k8 (18391)
• Indonesia
31 May 23
@leighnyork I use it not as payment but can be sell or buy on exchange site.
1 person likes this
@DWDavis (25805)
• United States
29 May 23
My personal take on cryptocurrency is that it's a shell game or a pyramid scheme. There is no value to it and no backing for it. Early adopters get rich. Everyone else gets ripped off. And if the person or organization behind it decides to quit, suddenly all the crypto they "created" disappears, and there's no recourse to recover your losses.
1 person likes this
@leighnyork (1880)
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29 May 23
True, but for me I have not yet fully understood crypto currency
1 person likes this
@RasmaSandra (80748)
• Daytona Beach, Florida
28 May 23
I once received a payment in cryptocurrency and had to have it turned into regular money. I think it is a complex thing that won't last long, I would rather work with regular money. Thank you for the suggestion @thebos
1 person likes this
@leighnyork (1880)
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29 May 23
You are welcomed, and thank you for stopping by, me too I prefer cash but understanding crypto currency is more difficult
1 person likes this
@manikarnika (3236)
• India
31 May 23
I don't believe.Here making Bitcoin selling based MLM (Multi Level Marketing) and also i don't wish to join.
1 person likes this
@Treborika (17853)
• Mombasa, Kenya
28 May 23
The Crypto currency has a very high potential to take over the currency of the world. However I am not sure if that can happen in our country. There are some countries that have already banned the usage of the currency.
1 person likes this
@Treborika (17853)
• Mombasa, Kenya
28 May 23
@leighnyork Like here in Kenya do you think the bitcoin is widely used? Is it taxed?
1 person likes this
@leighnyork (1880)
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28 May 23
I really don't think so because many people are preferring to use bitcoin
1 person likes this
