Up to this date, the usability, function and exchange of Bitcoins and other digital currencies have been limited and circulating around small communities-group of people or large enterprises-who have ventured into the world of digital currency.

Because the community is small, the opportunity to spend or trade it for various products is also limited and lots of this currency owners hope that it could be widely accepted in the foreseeable future. Although these are possible, this will take time and lots of discussions as the concern for security and safety reaches large. https://youtu.be/SRgN1pTFZgM Besides that, the federal government and some large institutions are threatened with the possibility of using this type of system.

The Reluctance

Few people widely accept digital currency. If you haven't heard of it or aren't among those who have spent a lot of your time and effort understanding, mining and acquiring the said currencies, you will not feel safe trading in or acquiring such currencies in trade of items that you intend to sell or have.

It has not been accepted widely and the fear of the loss it may acquire in the future is fantastic due to the fact that there is absolutely no governing body inside it. People would need to feel safe using it but this might normally require the interference and approval of the government and general sectors of the financial market.

THE NECESSITY for a Controlling body

The transfer to digital currency allows visitors to make online trading without issuing actual and paper money which are inclined to being stolen. However, it is not a hidden fact that some digital currencies have already been stolen too.

The government would want to control it as there is a significant quantity of income from the exchanges and trade. Other sectors not open to the specific value of digital currencies may find it hard to liquidate their assets and make use of digital currency exchanges.

Even though future of digital currency adoption is greatly possible, the best risk everyone has to deal with would be the security. For example, PayPal is wanting to impose this on their system (the news of which eventually made the value of Bitcoin rise in one day) however the problem is, delivery schedules may often not be met also it would be hard to recuperate the said currency-also includes defects on products upon delivery.

The possible adoption could take time and effort from both government and independent sectors to work through the glitches in connection with fraudulent acts online and sectors desperate to sabotage the project.


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Last-modified: 2022-10-22 (炮) 10:08:43 (558d)