Can't beat a bit of cash in hand although the cash being physically in the hand is incidental. The important thing is that it's not a record of your life for the state to prey upon with neither wisdom nor compassion. So long as there are ways for the new technology to retain the benefits of cash in hand there'll be no need to go back to a barter economy, bartering your way out of physical assaults.
I had to do a bit of research online in the context of your query .. And the summery of what I found is that , In the latest verdict Supreme Court has been directed Central Govt. To take action to make policy regarding the usage of Bitcoin.. So as long as it is not done , Bitcoins are not really legalised to use for daily transactions made by common public in the open market...
But in special occasions sometimes it might get used for virtual transactions like Online Share Treading or something like that... That is not really illegal but not legal either... As far as I understand the present scenario ...
This Bitcoin is a really interesting new term... I would like to know more about it and it's usage all over the world...
I would like to invite people to share more information and opinion about Bitcoin as a medium of transaction ...
a) the technology behind it is worth something. Very advanced and seems somehow to work (a safe transaction) b) it's value swing up and down based on mass psychology and news/rumors about bitcoins future c) Problem is crypto valuta is not backed by gold and is not recognized by a world economic forum/world bank. d) theoretically it's not worth a dime e) one day the world society might decide for one new crypto currency. Then it's unclear what will happen to the ones who are running today. Could Bitcoin be the chosen one? will a number of crypto be accepted finally - several of them? or all go to zero?
Grandsiozzie: Hi Tanz. Bitcoin, I'm not by far educated on it.
But a few principles I think I know.
a) the technology behind it is worth something. Very advanced and seems somehow to work (a safe transaction) b) it's value swing up and down based on mass psychology and news/rumors about bitcoins future c) Problem is crypto valuta is not backed by gold and is not recognized by a world economic forum/world bank. d) theoretically it's not worth a dime e) one day the world society might decide for one new crypto currency. Then it's unclear what will happen to the ones who are running today. Could Bitcoin be the chosen one? will a number of crypto be accepted finally - several of them? or all go to zero?
Thanks Grand for sharing those info as well as your own view about it... It gave me an overall idea about it...
I think , as per current trends , most probably the world is heading towards total cashless transactions in future ...
I agree with you.. Money is always a boring matter... After all , wise people have said.. "Money Money Money , Sweeter Than Honey" !! People tend to choose spicy over sweetness !!!
Mercedes_00: I prefer cash but in saying that I try to use my visa card more because I have a habit of walking away forgetting to take my cash from the ATM
Mercedes_00: I prefer cash but in saying that I try to use my visa card more because I have a habit of walking away forgetting to take my cash from the ATM
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For Transaction(Vote Below)
For daily transaction , which medium or method is Your Most Favourite nowadays !?
Feel free to share all your opinions in regards here...
Have fun !!