Bitcoin Forum

Hello bitcointalk people, my name is Anna.
I'm a journalist from http://www.businesstimes.com.sg/ (http://www.businesstimes.com.sg/) magazine.
I'm working on a special crypto currency issue that will be launched in February 2018 and I really need you. My wish is to bring into contact to polar worlds - world of crypto economics and world of old school "real money" economics.
We all are well informed of what opposite side thinks about crypto, in general it's the mistrust agenda.
But still we don't know much about your thoughts on paper and metal money. This is the grey area that I want to cover. What's is so special that attributes to money and makes them fading, how do you feel it in a private life? Or you think in future this two worlds will live side by side?
All of you are very welcome to private messages, share your thoughts with me and I promise to publish the best of it.

Paper money is here to stay, but it will always be a worse option due to inflation.
There really is no way currently of creating decentralized paper money, so it will always be subject to trust in certain party and there will likely always be inflation.

I think that for majority of people using digital money will be easier and safer option.
They will be payed in it and hold their savings in it. And there is no reason for any other digital money to exist except Bitcoin.

Still sometimes some people might prefer to have some paper money, on long trips when their phone dies and whatnot.

Fiat currency has served its cause well but not well enough, it is time that humanity moved on from costly minting and printing too fast and efficient currency using blockchain technology. I don't know when it will happen but cryptocurrencies will take over.

I want an ability to move my money. Fast. With low fee. And I want to be in control of my funds.

This is what cryptocurrency (and bitcoin is just one of the cryptocurrencies) provides.

No one can tell me "sorry sir, it looks like we cannot send money to the bank's IBAN you provided, seems like that bank does not accept our transfers", and than after 4 hours on the phone/online, they finally manage to do it, charge me $30 more for it, and I have to wait for it to arrive next 24 hours. I use Litecoin and the transfer is instant, anywhere in the world, for less than $1

Control of your funds. Elimination of the middle man. Low fees. Blockchain provides it all.

Personally, I think what really makes cryptocurrency stand out is the ease in transacting them. Unlike paper money, it is constant across borders and does not require exchanges to be used by people living in different countries.

Additionally, it does not hinder the capacity of market transactions as a way to build wealth. And although these may not hold up to much in this world of nationalistic economies, it does fare well in our transition towards globalization.

For these reasons, I believe that Bitcoin has the potential to overdo paper money.

Hashgraph will replace blockchain technology, and fiat... https://bitcointalk.org/index.php?topic=2635414.0.

8)

Interesting, either way there is not chance for fiat to dissapear any time soon.

Fiat currency will not remove in our society. It is not necessary to change out system of payment and undergo in with current system of payment. It cannot acquire also easily by other countries, specially those countries who does not want cryptocurrency.

Well, what I see here is the battlefield of ideas that creates a healthy atmosphere of a challenge. My knowledge is definitely not enough for making judgments about algorithms, but for sure I can see where life is concentrated.
But at the same time a have some fear, in my mind people do not trust fiat because of the huge fence around, some of derivatives are overcomplicated and this discourages those who want to understand the essence of what is going on.
Don't you think that admission ticket for entering crypto nowadays is even higher? And this admission is the principle of new separation?

People here are just people. You don't look at them as a type of group where they have some different opinion about regular money. Everyone is an individual and their own unique views, just as anybody else.

Right, I don't want to create an artificial group at all, that's not my point. But yes I'd like to find some structures maybe, or to prove that there are none. What is your opinion, why are you involved? 

Even though the age of digital currency is here to stay, I doubt that paper money and metal money are going to vanish just completely from the system at all, It will take a lot of time before that happens and that maybe hundreds of years to come.

Thank's for answering!
If both economics will coexist, where the demarcation line will run? Within product groups, like digital products for BTC and apples for USD? Or within groups of population, like smart and intellectuals dealing with crypto, uneducated with USD? I'm asking cause I never heard of two economics got along on the same field without separation on what is mine and whats yours.

Well, definitely your opinion also stands out. You turn over the usual approach "no middle man" and you find a ground for this middle man - boarders. Banks were useful while there were borders. But let me argue: international capitalism despises national boarders as well, VISA or any other payment system are taking care of your transactions, improving the technology to a faster and cheaper version. If the banks will accept the BTC challenge and will start using blockchain, for example, where else BTC will lead? 

Wether cryptocurrency or fiat currency , the main cause of problem is inequality to get services. And that is the reason some are getting rich and richer while others are facing poverty.

That is the reason technical brains are rebelling from fiat as that is under hold from authorities like Governments or Banks. So making a bridge in between them is not possible unless " The old school " Principle start accepting that he is not able to provide justice in providing facility for what he is getting tax. At least realizing the  mistake they did and not to repeat it , but usually they are not. And trying to rule out cryptocurrency by there Law makers is not going to sort the issue.

Cryptocurrency is a form of Revolt against the Rulers.

Many of us dealing with cryptocurrencies like bitcoin see a future where fiat will be overrun by it. Of course since we're aware of the advantages of crypto, we're going to have the perspective of a digital monetary system in the future. But for thr majority that doesn't know btc that well, they won't see btc to be a threat yo something that they've been using ever since. We'll see in a few years but its likely that fiat and crypto will both be used

Solid statement, thank you!

In this thread I already asked about how two economics can live side by side?
In my conception social structure and economical structure are reflecting into each other. If to simplify this to basics, than we will need two social structures to serve two economical? In my mind it's the worst case ever to let this happen, cause if on one hand you have a brilliant technology that eliminates financial domination and eternal slavery and on other the eternal slavery as it is, than only huge dose of hypocrisy will let this system run stably.

Thank you. What I see a lot around this forum is advertisement of services like one that you have under each message, I will definitely wright about this significant detail, but still I can't find the proper way of interpretation. All this casinos, free coins, lotteries, etc. are like huge machine of desire, something very similar to mythology of Las Vegas - accessible easy money. Things like this must work only in pair with context of wealth, that is not possible anymore outside BTC cause of disillusionment, tiredness and financial crisis in the world. Am I right?

Bump your thread only once per 24 hours please.

It took me a really long time to start to understand this place too.  This is a Libertarian site largely.  Satoshi didn't trust the gov/system, neither do Libertarians it was a natural fit.  It can be argued that without the support of the Libertarian community at the very beginning BTC would have died.  The Libertarians are still here in decent numbers.

Now fast forward several years and BTC starts to come out of the Libertarian community as word spreads.
Joe or Jane six pack hears about all the things like the economic turmoil globally, bail outs, Governments running out of money.  They see with their own eyes the financial raping with fees and such.  Add to that the traditional financial sector is sooooo complicated and riddled with fees that Joe and Jane can't even begin to understand it, so pay and trust someone else to do it for you, more fees!  It's not hard now to see why their trust in traditional systems starts to erode.

Joe and Jane hear about this trustless, low fee alternative that has been preforming insanely and they are intrigued!  Some invest, some don't. My investment adviser has long told me about diversification, so for me diversifying outside the traditional financial sector made a lot of sense.  In 2013 my adviser called me a fool for looking at "this internet ponzi scheme" LOL.  I am happy I didn't listen to him, he is no longer my adviser!

Do we/have we hit the point of inertia yet where it just goes on its own like a beautiful celestial body no one controls, dunno, only time will tell.  Strap in for the ride with us and we will find out!

Good Luck,
FH

I think in the future the use  of cryptocurrency will change the use of fiat currency in transacting with  advantages of its technology, but this can happen if many countries support by legality of cryptocurrency so it can be used all over the world and then the  trust on cryptocurrency can increase with the legality of its by all countries.

This is a very beautiful explanation, your adviser never ever suggested you to invest in a book business, you definitely have a taste for the word ::)
Diversification really makes a lot of sense with investment portfolio and there is nothing more efficient, that's clear. But when it comes to BTC and altcoins you are basically dealing with one market pointed in BTC? So did you expand the area of interest to the altcoin direction and if yes could you recommend do not fix the attention on BTC only?

Thank you!  No one has ever said I should be in the book business before  :)  I have been told I should have been a teacher or public speaker but I decided that the freedom of being in sales was more up my ally and a sufficient use of my talents!

When you ask about further diversification I personally do dabble in a couple of other coins.  The real problem with crypto's right now is the "Wild West" syndrome we have.  This type of market creates a virtual cesspool and attracts all the scum bags.  But does regulation make it better??  Fee's fee's and more fee's please!  What a conundrum we have eh?  ;)

I personally can't justify the risk reward for almost all "shit coins" there's just too damn many of them.  I've never participated in an ICO and no plans to in the future unless the market changes dramatically.  

If a coin can prove itself and possibly be useful (in my estimation of useful LOL) then I might consider it for investing.  I'm not a trader I buy or mine and hold what I can afford to and sell the rest.  For me LTC and ETH are the only other 2 coins I have besides BTC.  I'm sure there's other decent coins but those 3 are more than enough to fill my crypto investment budget!

I think the blockchain technology is beautiful, a digital sexy godess and the things we will see the tech applied to in the future will be fuckin awesome (pardon my french  ;D ).

But I have to live in reality and the risks are VERY real in my mind so I invest in my real world comfort level and live with the outcome!

FIAT is here to stay as others have already mentioned. However crypto is a new investment class and will sit alongside property, physical metals and stocks. Crypto will be more appealing to the youth as they have more exposure to it, whereas the older populae will stick with FIAT and property in the most.