Sukabuminewsupdate.com – politicians need to wake up quickly. The cryptocurrency revolution comes at warp speed when it was recently announced that it had created its own digital currency the first for a major country but days before paypal did anything more important, a move that should make politicians, economists and central banks tremble with fear even though the company didn’t realize what it was doing. marks a significant milestone in breaking down government monopolies in making money paypal will allow us consumers to use their cryptocurrency to buy goods at one of the nearly 30 million merchants worldwide in a few weeks the service will be available to all of our customers,
here’s the key paypal has come up with a way where people who hold bitcoin cash ether or litecoin in their paypal digital wallets can convert that cryptocurrency into normal money called economists as fiat money when making a purchase with a ceo merchant and schulman buying a pair of cowboy boots at the platform’s first cryptocurrency checkout,
he states this is the first time you can seamlessly use cryptocurrency in the same way as a credit card or debit card in your paypal wallet, traders will love it because they will get regular cash and don’t have to risk the extreme volatility that has so far held back the widespread use of cryptos for commercial transactions, other than that there will be no transactions If others rush forward to drive this crypto revolution, more and more businesses including the Tesla starbucks yum burger king and xbox brands are coming up with ways for customers to use cryptocurrency visas and other financial powerhouses are developing ways to make it easier to use.
the amazon cryptocurrency and facebook will increasingly become the main players A new class of cryptos are compounds called stablecoins linked to assets like dollars or gold, this will avoid the wild swings in value that are characteristic of cryptos like bitcoin but the big challenge remains to see bitcoin and other cryptos as assets not as meaningful money. if a piece of bitcoin you used to buy a pair of cowboy boots is worth more today than when you got them you owe us a capital gains tax paypal would happily issue 1099.
as cryptos became easier to use and more trustworthy than government money, countries and central banks wage unrestricted war against those foreigners but trusted currencies are the last thing they want circulating in their economies.