Italian minister don't want a cash basis transactions.

[ShiNorton 906]

I it gives exposure to Bitcoin to raise in the market. Message from Italy will be powerful to inspire  other people to accept Bitcoin. 

[Goyaa 2414]

Yes, in my opinion, this opens opportunities for cryptocurrency as a very good transaction tool, even though there is already this digital Euro which makes it easy for cryptocurrency to become second money afterwards. The use of paper money is no longer needed, it is too old and prone to disease. It's time for the cryptocurrency era.

[Sykkuno 2887]

Most governments don't want cash but don't want cryptocurrencies either in the form of private companies or individuals developing them, but they would love a central digital currency run by the government, like a form of cash but in digits. This is their dream for the future of money, and it goes against cryptocurrencies.

[bogdanoff 3173]

This doesn't mean they are in favor of cryptocurrencies. The banking system has evolved and instead of cash banks and governments want to increase electronic money spending, which happens using debit/credit cards and banking applications. 

[percare 3192]

All european countries that are in the Eurozone want to protect the Euro. There is nothing that will let them abandon it now. It is still a new currency and the average life of a fiat is more than a hundred years, so Italy will not adopt cryptocurrencies instead of the euro. But they will allow them to be used and if there are problems in the economy and if Germany begins again asking for austerity, cryptocurrencies can help.

[cryptovlek 2597]

This is happening for years because of the tax evasion in Italy which is very high compared to other European nations. There are some people in some countries including mine Poland that are very stupid and do not see that the tax evasion is only creating problems for the rest. I am most interested in bitcoin adoption as an investment that creates terms for financial freedom to the world and it seems as in the example of america that it works great.

[Fixfin 2569]

Cash will be removed in only a few years. There will not be any paper bills and even coins will be stopped. We are in the beginning of the future, finally. So cryptocurrencies are ahead of anything else and they should not be stopped but adopted. Italy can be one of the countries that adopt first and allow them to be used for everything.

[Syedbesharat 5423]

Their decision is good but the y didn't clearly comes forward for crypto support they have lower the cash usage but they can bring own stable coin currency when the people adopted the digital system for payments. The penalties must be small not high because it's will look like enforcing them for this. Crypto must be spread through awareness. 

[Mella 3680]

On 12/12/2019 at 8:27 AM, josephrioveros123 said:

I think this news is very good for bitcoin and alt coins. Because they can find their way into the mind of the Italian since their government wants cashless basis on trade.

My dear it is not think this way. They are want to use the cards more and not cash because they are prefer to trace the money. I am hope that they are awnt the crypto but it is not what I am think they are after.

[zhoutong 2188]

Italy would be better with cryptocurrencies instead of the euro that has failed this beautiful country. Italy was doing better with the old currency and was a huge economy only to be restricted now by the coin run by germany. Crypto will help more the italian economy than euro today.

[annayks 2314]

They are telling us to use the bank card system and this way everything is recorded in the bank but they still allow cash too because it is helps politicians receive some extra money. I don't think they will end with the cash system fast and cryptocurrencies are still far from being adopted by anybody. This news does not have to do with crypto as it talks against cash but in favour of cards.

[noshot 154]

I don't think so mate. There was no talk here about cryptocurrencies and when you read digital currency it means a government digital currency like the petro and the chinese thing they are making. I think that this differences you have to learn before you start writing posts. I did learn this in only a few days so you are very behind if you think like that.

[yonkii 3205]

I am sure that after some years pass we will all have moved into cashless societies and only use mobile wallet applications instead of paper cash. It is how it will be and I try to understand if this will help the people or create problems in the structure of our societies. I think that the best money similar to the paper are cryptocurrencies giving anonymity to the user. Maybe this will be the future.

[kryptonick 2659]

I think that cash and paper money should be banned effective immediately and use the bank applications instead. This will help the economies survive a little longer as too many, mostly merchants, are stealing and not paying any taxes. This can only be helped with electronic banking transactions. This is what this minister asked here and I agree. There is a culture of not paying taxes in many countries and of course it is not about the poor people that the taxes are already paid from their wage but this is about the businessmen, shops and many professionals that get paid a lot even for simple jobs and accept only cash so they can avoid taxes. This is a theft of the poor people and this is the problem with the current system. Debt is being amassed when these people don't pay their taxes.

[Jromz 2158]

The reasons are not quite clear as why Italian government wants to get rid of cash money. Even though this might be positive for bitcoin and other cryptos in terms of promoting digital monetary transactions, it remains to be seen whether such abolition of cash is not intended to be an avenue for implementing a centralized currency, controlled by a central government, potentially digital euro.

 

 

[Brandonsaw 1973]

This is convenient for cryptocurrencies since they are not cash transactions, they are digital transactions that benefits cryptocurrencies since they will begin to occupy more.

[Zalaks007 543]

I think this is a good move by the Italian prime minister, this will help in rise for the use of bitcoin in the country and will also create great awareness about cryptocurrency in the country too.

[BrolySSJ 7899]

The concept of trying to minimize the use of cash transaction sis a good thing in the long run as it is a much safer option to make use of debit and credit cards rather than carrying around with you a lot of cash. This will also reduce the amount of theft that there is in terms of businesses stealing money and there being cases of fraud or money laundering in businesses. Also, you are completely right in saying this is great for the crypto world! If the country is trying to move towards a system that does not make use of cash, the use of crypto is right up there with a cashless and even contactless system, so hopefully they will start using crypto as a main source of payment in the future. 

[Khan 1414]

On 12/12/2019 at 11:33 AM, nicolas1234789 said:

I know this step is for avoid money laundry  because all transaction has record and fake money. That's good step even I must say they should have powerful secure system to manage all transactions. Let them start and see what happen.

In the crypto world and usage of the crypto currency the main reason for not making it a legal is the money laundering issue and this can not be controlled until a full prove technology has been introduced.

[Ezra 630]

Its good if they use cryptocurrency for cashless but there's disadvantage also if they adopt crypto in all payment system in whole countries because the value of cash will be reduce in their country so its need to be balance because there are certain store that didn't accept coins for transaction and it cause of illegal trafficking and hackers, so need of long process before use as payment system to implement cashless. Cryptocurrency is have a certain suitable to be use not all the situation

[RonaldB 48]

If this decision is valid for a long time, then it is a positive decision regarding cryptocurrencies, as it fulfills the conditions of the Italian government to reduce the volume of transactions in cash and exploit electronic payment methods, Bitcoin can then win the confidence of the Italian people and use it in most areas of payment.

[VijithaVarghese 1994]

This is a new information my friend. Thank you for sharing this. I really think that this is big as the minister's intension isn't aiming at bitcoin he wants to make transactions virtual and the Italian government is quite bothered about economy and financial matters like blockchain. Good luck friends.

[Maaz sultan 265]

I think that this decision is only for good for his peoples and when he realize that his decision is not right he will support these crypto currencies , Because being a minister of whole country is not an easy job you need to calculate every angle for making any decision .

[Mwangi 5611]

Countries are falling and fard and we need to understand what would be the right thing right now we need to push together everything that is going to help us and put together every single structure , we need to keep building up that powerful structure to it, and we need to continue to it and keep growing with it , there is a lot of powerful strong structure to defend the economy that is really powerful

[Ninon 0]

If this choice is legitimate for a lengthy time, then it is a tremendous choice related to cryptocurrencies, as it fulfills the prerequisites of the Italian authorities to decrease the extent of transactions in money and take advantage of digital price methods, Bitcoin can then win the self belief of the Italian humans and use it in most areas of payment.