Will creation of digital currency disturb the growth of crypto currency

Wisdom01

Valued Contributor
Will creation of digital currency disturb the growth of crypto currency

Many countries are now considering the importance of digialized currency while some are keen on creating theirs .China created their own digital currency and it affected crypto currency negatively since they banned the use of crypto currency ,just because they want to generate more revenue than what crypto currrency have really keen on offering and revenue they have been generating ,also the news itself affected the price of crypto currency because there was a drop in the price of crypto currency and it was a big deal because many who invested lost a huge amount of money multiple times due to the huge drop in the price of crypto currency i think .Will creation of digital currency disturb the growth of crypto currency ,i will like to hear and listen to your opinion on that as well
 

Bookwormlux

Valued Contributor
I believe those digital Currencies you are trying to talk about are online versions of fiat Currencies. If that is the case, I do not think they would affect the growth of crypto currencies since the both work hand in hand. The digital Currencies would be used to buy crypto currencies. Remember that digital Currencies won't appreciate in value like crypto Currencies.
 

Wisdom01

Valued Contributor
I believe those digital Currencies you are trying to talk about are online versions of fiat Currencies. If that is the case, I do not think they would affect the growth of crypto currencies since the both work hand in hand. The digital Currencies would be used to buy crypto currencies. Remember that digital Currencies won't appreciate in value like crypto Currencies.
The only thing i am worried about as well is that countries might start banning crypto currency just to grow the sucess of their digital currency so they can improve their revenue generation just like what china did too,so its still very confusing and that to me is a big demerit,except for another reason and others
 

Chibson

VIP Contributor
a lot of countries are talking about creating their own digital Fiat currency and even my own country is now considering it. I don't think it will disturb the growth of cryptocurrency in anyway because it has already been in acceptance by so many people. I think the move is a welcome development and I would like to see how it unfolds.
 

Sotherefore

VIP Contributor
Wow, nice write-up I always believe that a digital currency is anything that we can use in payments of goods and services digitally and i always count cryptocurrency like bitcoins as one of the digital currency but now you are trying to say that a cryptocurrency like bitcoins is not a digital currency again.
 

Yugocean

Valued Contributor
Cryptocurrencies are assets, not really a currency to use. Different governments are now trying to create Digital currency, this is actually a result of the popularity of Crypto currency. As on growth, it is better to not get too worried, real currency always effect the value of assets, even now we value them in USD.​
 

Wisdom01

Valued Contributor
a lot of countries are talking about creating their own digital Fiat currency and even my own country is now considering it. I don't think it will disturb the growth of cryptocurrency in anyway because it has already been in acceptance by so many people. I think the move is a welcome development and I would like to see how it unfolds.
hope it dosent , the only reason i was a bit worried is that in my country its the bank that actually dont support the existence of crypto currency and even ban anything or cancel anything they have with it , but now they are supporting the move for digitalised currency shows something is not actually right somewhere
 
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