all buying and selling transactions with crypto

in voilk •  6 days ago

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    Source pixabay

    Hello

    Imagine if this world only had crypto where all payment transactions no longer used cash but instead only digital money, have we ever thought about where the world no longer knows the form of paper money and the original form of money but only sees the amount of crypto remaining in the application, this might be a kind of dream and being in a fantasy land how can I not have to buy snacks by paying for them using crypto and everything must be with crypto, how when there is a signal disruption or a power outage this will make me very overwhelmed

    In this increasingly advanced era, crypto money is increasingly popular but all of that has its good and bad sides too, in some developed countries the government has legalized buying and selling with crypto and all goods purchased can be paid for with crypto tokens

    the good side if everything is crypto

    People will feel comfortable when unlimited freedom is real where their money is theirs, there is no more government interference, no more hassle counting paper money in their wallets, they can set their own crypto money which they like and can immediately invest there, when the crypto experiences a price increase, they will get profit and vice versa if the crypto price is weakening, they immediately use it to buy as much as possible

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    Source

    It will reduce the crime rate of robbery and theft because everything has been regulated by codes and passwords, if implemented in the government system, perpetrators of corruption fraud will be quickly detected so that they can be prevented from the perpetrators of these deviations, this is extraordinary, besides that it can make it easier for users not to have to come to the bank to save and withdraw money, just in their hands

    There are no more contributions to pay credit cards and no more people holding cash and when going on vacation abroad they don't have to exchange money for the currency of that country because crypto can be traded anywhere and anytime all over the world

    the downside if everything is crypto

    The first effect that will arise if all buying and selling transactions are controlled by crypto is that there will be chaos when the price of crypto weakens where a country can no longer manage its finances and cannot regulate the exchange rate of each country, everything has depended on crypto, the world will be influenced by crypto exchanges, besides that all aspects of buying and selling must always update the price of goods every time the price of crypto changes so that there are no more rules in determining the percentage of profit

    The second effect, this is digital money, there could be a price spike because we don't know how many crypto coins are provided, can it meet market needs, and if the supply is too much, the price of crypto will weaken greatly because I have heard that some crypto coins have been burned to finish them and buy land because there are too many so that the price can be balanced they make various efforts for this

    In addition, crypto digital money, you can't see the real form of money, you can only see the number of crypto tokens in the application and you have to keep your password very safe if you lose your password then you will lose assets, this is very dangerous and this will be a big debate for Islamic countries because there they do not allow transactions that do not exist original

    And imagine if everything was crypto then we really wouldn't have to bother looking for small change for small traders😁, no more cash, no more banks or ATMs, no more credit cards, maybe it would look more comfortable and relaxed,


    Nb: sorry I am late in sending my participation in the week156-episode3 contest because there was a signal disruption in my area, today I can't access #hive, hopefully you can understand

    greetings
    About me

    who is @yuliadi
    yuliadi is a 36-year-old nurse living in Indonesia, since knowing Hive now I am more active on blogs and writing original content every day, the language used in writing is Indonesian changed using Google translate, my blog is my life
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