When I was in school I gave the idea of having a crypto currency to my elders so that we can avoid wastage of paper and it will be more secure and hassle free. When I grew up, we already have it now. The crypto currency is definitely very safe, secure way of transacting but it is very dangerous too. All illegal transaction in dark web for drugs , weapons , black money transfer to other countries etc are done in crypto currency. So there are number of ways the crypto currency can be misused. A talented hacker sitting in any corner of world can hack your money so this makes our money very vulnerable. That is the reason why RBI decided to ban crypto currency. But maybe in future this could revive again just because it is more convenient than paper currency and little more secure.

As of now, bitcoin and other cryptocurrencies are still illegal in India, as far as I know so there is no question of them replacing the traditional currencies for the moment. And even if they are made legal, I don't think they would ever replace the traditional methods of payments.

arjun sai wrote:

When I was in school I gave the idea of having a crypto currency to my elders so that we can avoid wastage of paper and it will be more secure and hassle free. When I grew up, we already have it now. The crypto currency is definitely very safe, secure way of transacting but it is very dangerous too. All illegal transaction in dark web for drugs , weapons , black money transfer to other countries etc are done in crypto currency. So there are number of ways the crypto currency can be misused. A talented hacker sitting in any corner of world can hack your money so this makes our money very vulnerable. That is the reason why RBI decided to ban crypto currency. But maybe in future this could revive again just because it is more convenient than paper currency and little more secure.

. All illegal transaction in dark web for drugs , weapons , black money transfer to other countries etc are done in crypto currency. So there are number of ways the crypto currency can be misused...

As far as the above sweeping statement goes I would like to contradict. The very fact that we are able to track such money trails shows how transparent the crypto is . As far as such transactions go , it did happen in the beginning a couple of times because there was not much awareness about how it worked. Every single Bitcoin and other cryptos are traceable , so you simply cannot hide them like you can do with paper money or banking transactions..

Kalyani Nandurkar wrote:

As of now, bitcoin and other cryptocurrencies are still illegal in India, as far as I know so there is no question of them replacing the traditional currencies for the moment. And even if they are made legal, I don't think they would ever replace the traditional methods of payments.

The reason why many nations are against crypto currency and have tried to ban it is because of it's transparency of movement . Since every single coin is traceable there is no way one can get away with it. This is what scares the leaders and the banking institutions who would definitely not want it...but all developed nations are adopting it which shows that they realise it's future impact .

usha manohar wrote:

arjun sai wrote:

When I was in school I gave the idea of having a crypto currency to my elders so that we can avoid wastage of paper and it will be more secure and hassle free. When I grew up, we already have it now. The crypto currency is definitely very safe, secure way of transacting but it is very dangerous too. All illegal transaction in dark web for drugs , weapons , black money transfer to other countries etc are done in crypto currency. So there are number of ways the crypto currency can be misused. A talented hacker sitting in any corner of world can hack your money so this makes our money very vulnerable. That is the reason why RBI decided to ban crypto currency. But maybe in future this could revive again just because it is more convenient than paper currency and little more secure.

. All illegal transaction in dark web for drugs , weapons , black money transfer to other countries etc are done in crypto currency. So there are number of ways the crypto currency can be misused...

As far as the above sweeping statement goes I would like to contradict. The very fact that we are able to track such money trails shows how transparent the crypto is . As far as such transactions go , it did happen in the beginning a couple of times because there was not much awareness about how it worked. Every single Bitcoin and other cryptos are traceable , so you simply cannot hide them like you can do with paper money or banking transactions..

I don't know much about this but I know it that in future people use this currency in large number. We human always like some easy thing.

usha manohar wrote:

arjun sai wrote:

When I was in school I gave the idea of having a crypto currency to my elders so that we can avoid wastage of paper and it will be more secure and hassle free. When I grew up, we already have it now. The crypto currency is definitely very safe, secure way of transacting but it is very dangerous too. All illegal transaction in dark web for drugs , weapons , black money transfer to other countries etc are done in crypto currency. So there are number of ways the crypto currency can be misused. A talented hacker sitting in any corner of world can hack your money so this makes our money very vulnerable. That is the reason why RBI decided to ban crypto currency. But maybe in future this could revive again just because it is more convenient than paper currency and little more secure.

. All illegal transaction in dark web for drugs , weapons , black money transfer to other countries etc are done in crypto currency. So there are number of ways the crypto currency can be misused...

As far as the above sweeping statement goes I would like to contradict. The very fact that we are able to track such money trails shows how transparent the crypto is . As far as such transactions go , it did happen in the beginning a couple of times because there was not much awareness about how it worked. Every single Bitcoin and other cryptos are traceable , so you simply cannot hide them like you can do with paper money or banking transactions..

Even today the transaction in dark web , bit coin is being used for illegal purchasing. 

arjun sai wrote:

usha manohar wrote:

arjun sai wrote:

When I was in school I gave the idea of having a crypto currency to my elders so that we can avoid wastage of paper and it will be more secure and hassle free. When I grew up, we already have it now. The crypto currency is definitely very safe, secure way of transacting but it is very dangerous too. All illegal transaction in dark web for drugs , weapons , black money transfer to other countries etc are done in crypto currency. So there are number of ways the crypto currency can be misused. A talented hacker sitting in any corner of world can hack your money so this makes our money very vulnerable. That is the reason why RBI decided to ban crypto currency. But maybe in future this could revive again just because it is more convenient than paper currency and little more secure.

. All illegal transaction in dark web for drugs , weapons , black money transfer to other countries etc are done in crypto currency. So there are number of ways the crypto currency can be misused...

As far as the above sweeping statement goes I would like to contradict. The very fact that we are able to track such money trails shows how transparent the crypto is . As far as such transactions go , it did happen in the beginning a couple of times because there was not much awareness about how it worked. Every single Bitcoin and other cryptos are traceable , so you simply cannot hide them like you can do with paper money or banking transactions..

Even today the transaction in dark web , bit coin is being used for illegal purchasing. 

Can you substantiate that with a link or an article or something else ...not gossip because there wd be plenty of that 

usha manohar wrote:

arjun sai wrote:

usha manohar wrote:

arjun sai wrote:

When I was in school I gave the idea of having a crypto currency to my elders so that we can avoid wastage of paper and it will be more secure and hassle free. When I grew up, we already have it now. The crypto currency is definitely very safe, secure way of transacting but it is very dangerous too. All illegal transaction in dark web for drugs , weapons , black money transfer to other countries etc are done in crypto currency. So there are number of ways the crypto currency can be misused. A talented hacker sitting in any corner of world can hack your money so this makes our money very vulnerable. That is the reason why RBI decided to ban crypto currency. But maybe in future this could revive again just because it is more convenient than paper currency and little more secure.

. All illegal transaction in dark web for drugs , weapons , black money transfer to other countries etc are done in crypto currency. So there are number of ways the crypto currency can be misused...

As far as the above sweeping statement goes I would like to contradict. The very fact that we are able to track such money trails shows how transparent the crypto is . As far as such transactions go , it did happen in the beginning a couple of times because there was not much awareness about how it worked. Every single Bitcoin and other cryptos are traceable , so you simply cannot hide them like you can do with paper money or banking transactions..

Even today the transaction in dark web , bit coin is being used for illegal purchasing. 

Can you substantiate that with a link or an article or something else ...not gossip because there wd be plenty of that 

Please check:-

https://www.thebalance.com/what-is-a-dark-market-391289

No gossip it is a well known fact. The government did not ban crypto currency because it is more transparent but because it is anonymous and can misused. You can find several other reliable sources on Google too.

arjun sai wrote:

usha manohar wrote:

arjun sai wrote:

usha manohar wrote:

arjun sai wrote:

When I was in school I gave the idea of having a crypto currency to my elders so that we can avoid wastage of paper and it will be more secure and hassle free. When I grew up, we already have it now. The crypto currency is definitely very safe, secure way of transacting but it is very dangerous too. All illegal transaction in dark web for drugs , weapons , black money transfer to other countries etc are done in crypto currency. So there are number of ways the crypto currency can be misused. A talented hacker sitting in any corner of world can hack your money so this makes our money very vulnerable. That is the reason why RBI decided to ban crypto currency. But maybe in future this could revive again just because it is more convenient than paper currency and little more secure.

. All illegal transaction in dark web for drugs , weapons , black money transfer to other countries etc are done in crypto currency. So there are number of ways the crypto currency can be misused...

As far as the above sweeping statement goes I would like to contradict. The very fact that we are able to track such money trails shows how transparent the crypto is . As far as such transactions go , it did happen in the beginning a couple of times because there was not much awareness about how it worked. Every single Bitcoin and other cryptos are traceable , so you simply cannot hide them like you can do with paper money or banking transactions..

Even today the transaction in dark web , bit coin is being used for illegal purchasing. 

Can you substantiate that with a link or an article or something else ...not gossip because there wd be plenty of that 

Please check:-

https://www.thebalance.com/what-is-a-dark-market-391289

No gossip it is a well known fact. The government did not ban crypto currency because it is more transparent but because it is anonymous and can misused. You can find several other reliable sources on Google too.

Also you can read more about Dark web. Dark web has websites which you cannot open in normal browser. Dark web is made specifically for selling drugs and other illegal activities. Any payment in dark web is done using bit coins and other crypto currencies.

Re: Will crypto currency overthrow the traditional financial system in days to come?

by arjun sai » 2 hours ago

Please check:-

https://www.thebalance.com/what-is-a-dark-market-391289

No gossip it is a well known fact. The government did not ban crypto currency because it is more transparent but because it is anonymous and can misused. You can find several other reliable sources on Google too.

Danny Bradbury has written quite a few articles and blogs on crypto currency both on its positive and negative impact. To get a more balanced view one needs to read and analyse more of his write ups, since he has been an ardent follower of crypto currency for quite a number of years now..