Bitcoin Forum

Peer to peer means that the middleman in today’s traditional
transaction could disappear if cryptocurrencies revolutionize money.

Cryptocurrencies, in fact, represent a vote of no confidence in the policies
of central banks and government monopoly of money. These ‘peers’ see central
banks as consistently devaluing money through currencies that aren’t backed by anything
but government promises.

But what if the money revolution succeeds?

As in any revolution, today’s top dogs have the most to lose.

The Idea of Alternative Currencies Is Going Mainstream. MasterCard for example, one of the big players
now looking at this 'new money', is starting a cryptocurrency team.

“Do you have the desire to work at the cutting-edge intersection of payments and cryptocurrencies,” MasterCard asks.

Those hired will “monitor crypto currency ecosystem trends” and “develop new products and solutions.”

MasterCard is part of the Libra Association, which includes Pay Pal, Visa, and other big players.
Libra intends to create “a globally, digitally native, reserve-backed crypto currency built on the
foundation of blockchain technology.”

You pretty much answered your own question. People are finally waking up to central banking policies and the stunts the banking cartels pull. It's still going to take some time for the masses to open their eyes. In the end we dont know how things will come out on the other side.

Just as the fed is in uncharted territory riding on the edge of the seat, as too are cryptocurrencies. The future is yet unknown but exciting.

I have heard about this a lot, which is also what many people in the crypto community want to have.
I have to admit that cryptocurrency is bringing a lot of benefits to users, just like blockchain. But what makes money revolution slow is because the government doesn't support it.
In my opinion, we should only wait until the crypto market has a market cap of over $ 1,000 billion, then businesses that exist there will have the prestige to accelerate money revolution faster.

Cryptocurrencies will surely succeed simply because they are better but we need to be very careful, gold was the most dominant form of money for thousands of years and yet banks and governments found a way to convince people that it was better to use their useless pieces of paper and I have no doubts that they will try to do the same against cryptocurrencies and if the past repeats itself then we may see fiat cryptocurrencies in the future.

No society in history has previously entertained the idea of negative interest rates.

The destruction of capital, economic and social, should be contrary to every human impulse.

Civilization requires productive surplus and accumulation; de-civilization happens when
too many people borrow, spend, and consume more than they produce.

However, what if the crypto revolution succeeds?

What would it look, sound, smell, taste, feel …like

As in any revolution, today’s top dogs have the most to lose.

If the money revolution succeeds, we will see a big transformation in the payment system. It will change the form from the traditional way into a digital way, and people will have an easier method to make a transaction. They can make a transaction across the border without any problem, and they don't have a bond as what we see now. It will look like a credit and debit card, but it's more simple.

We don't have fills any document to get the card. We only need a wallet which has a function to be our place to saving, paying, and even for the investment. It will bring a new modern life, and when we want to buy something, we only need to scan the barcode and then make the payment.

As you know, the top dogs have the most to lose, so they want the current situation to be the situation in the future. They are staying the same because they have the most power in it. As for the alternative money, which would be cryptocurrencies, would have a significant impact on them, unless they have it too.

What's important is that its peer-to-peer transactions but the next problem would be the trust issues.

People who are up to no good are always lurking to find the next victim. It's the downside of that, in my opinion. Be vigilant.

And do you seriously think it will happen? Before any of these money revolutions that you have in mind achieves something significant, these top dogs you are talking about have already changed colors and joined the fray, or have started negotiations, or have already bribed their way to the heads. Or perhaps even before the revolution gets serious, the top dogs have already planned their best moves.

Think of crypto. And think of the traditional banks of these top dogs. And now think of how they are already opening up for Bitcoin. Think of how they are slowly adopting this and that, brilliantly swaying with the wind.

Yes the government and banks are the biggest players to lose if cryptocurrency revolutionizes because they will then have nothing to monetize from.
This is exactly why most of the countries oppose cryptocurrency to be a legal currency. The war has already begun.

once when all financial transactions had to be carried out and controlled by banks, our privacy was also known by them and the government. now crypto has changed and revolutionized it all and all the conveniences have been provided by crypto, so crypto has successfully revolutionized money.

In fact, the revolution of money has always been a topic of great interest in modern times today. when everything is handled by technology and saves a lot of time.
The peer-to-peer payment is great, but customers really need protection and security for their money.
such as credit institutions, they can provide money for us to use at very low monthly interest rates and we still don't have to pay fees when paying directly.
Peer to Peer is only really useful for large businesses when working together, but for individuals, credit cards are the best and safe.
At the moment, I still feel that using credit cards is much better and do not want to use cryptocurrencies to pay. because its value is always volatile and I don't want to hold such assets in my wallet.

Not yet, we are still far away to see what happens. We still use the old way which is available in all country. Maybe we need to give some time for the crypto to be accepted in all country so the revolution will succeed. If the government can approve cryptocurrency, it means the process of adoption will reach the goals, that will help cryptocurrency can be used in their payment system. At least, the government will try to integrate the system with the blockchain technology to see the benefit.

Our society has finally realised that the traditional money system is controlled only by government, has insane commission fees and is very likely to be manipulated, thats why there is a growing interest in crypto currencies and hopefully mass adoption in the future.

it's not that easy to change people's thinking about fiat money, which has been used by the world for several centuries. Everyone uses and believes the money that is now circulating and used them for trade transactions. while crypto is still opposed by many people, and of course there is a fear of starting and trying new things that have a risk to the money they have.

The battle is a tough one and only time can determine the fate of alternative money.
The history of money itself begin with precious iron bar, gold and the likes that have relative value, worldwide acceptance and belongs to those that can found it (Mining), this form of money does not have any government control since it belongs to whoever found it.
Modern paper currency change it all with central banks, government policies and politics while crypto means freedom.
Just to mention here, some banks are considering the blockchain compare to the traditional method they are currently using.

Most of those middle men that the use of cryptocurrency tends to eliminate are the ones that are making money off the masses just because of one idea that is actually not necessary, but because of self-imposition by the government, they didn’t have any choice than to deal with them, and same as in the private sector also, but with the introduction of cryptocurrency and wallet, those middlemen that has been imposed on us will be eliminated, and this is why those banks are fighting hard to eliminate cryptocurrency or quickly come up with a centralized cryptocurrency that will be imposed on people with the support of the government just like the great china is already doing by trying to tokenize their own currency so as to impose it on their  citizens.

This is completely true, in the past banks were necessary because it was really difficult for a person to settle a payment with a person in another country in a safe way, banks took advantage of this and they began to charge all kind of fees since they knew that they could get away with it, but now for the first time in history we have created a system that doesn't rely in a third party, banks understand very well that we do not need them anymore but they will use their influence to try to make people to keep thinking in that way.

If such thing occurs, old-school banks and cryptocurrency will have a fight. But if banks will alter their course, they might befriend crypto.

The people behind the banks are some of the smartest in the planet, they have been deceiving the whole world for centuries so I have no doubt that they will find a way to deceive most people again and if for some reason they can't I'm sure that they will find a way to try to take over bitcoin and many other cryptocurrencies but they will do it indirectly, and once they do that you can be sure that they will accept cryptocurrencies since at that point they will not be afraid of them.

Every few generations or so a technology and or technological events, have
the effect of taking the power, wealth and influence concentrated in the hands
of the very few, and scattering it about for a moment. We live in such a time now.

In these times a handful of those paying attention will recognize
the opportunity, setting themselves and all they care for to be the
movers, shapers and rainmakers for next generations, yet to come…

The rest will do what they have always done, sleepwalk through it.

in that case, the regulator will act as a party that will be monitored the development of the technology itself.

Those are aware of the opportunity must be very experienced. As far as i know not all of the people are having the knowledge related to the development of the technology, Only the people are knowledgeable about that can take the opportunity.

Ordinary people will never think about that because he has no idea about that. The next generation just needs to create a new improvement based on the framework that has already made before.
Who have skilled in the creation of technology is the only party who can take the opportunity.

In my opinion, as for the moment the world is seeing stable coins as a potential beta for the transition of fiats to cryptocurrency. But still, government will make a massive decision regarding this, as it seems impossible at this moment to transition the products market price, bar codes and other pricing aspects so it needs to take time at a time to be implemented. In addition taxation of all prosucts and services needs to be studied first.

I am seeing more of the possibility of physical fiat transforming into digital fiat as compared to physical fiat becoming a stable cryptocurrency. If the government wants to preserve fiat, its value, and its prevailing rules, why do they have to shift to cryptocurrency? It is not needed anymore. They better shift to digital fiat. In that case, they are still fiat and I will still prefer crypto over them.

This is a paradigm shift, viewing it from an historical or contemporary
perspective is of marginal value at best. This is in the main, why all but
a handful will sleepwalk through it, again.

One of the driving forces is the reality that humanity has been up-loading
Its collective knowledge for decades. This translates into an unprecedented
Cambrian level explosion in technological breakthroughs, going on as we post.

This is a product of generations of specialists, so much so you need a specialist
to help determine which specialist you need to consult. What is at a premium now
are the generalists that can tease out the patterns and pull together, what are in
effect, off the shelf technologies, subsystems and components to deliver novel
solutions to the markets.

The challenge is back at the beginning of the cycle, visioneering not engineering.

Actually today's top dogs don't have a lot to lose because they still basically control the policy, check for example what is happening in China now, while they decided that getting involved in Cryptocurrencies is in their best interest, you don't see them encouraging their citizens to buy Bitcoin, they are developing their own Cryptocurrency instead and they would ensure that when worldwide crypto adoption happens, their currency would be the one mainly used by their citizens, even if they were to decide to support an existing cryptocurrency like Bitcoin, they have the resources to purchase almost all the bitcoin in the market right now and control the majority supply, let's not delude ourselves, Cryptocurrencies gives us more power but it doesn't render the present top dogs entirely powerless.

In my opinion it is the future of payments, because such structure has clear advantages in front of three parties. The whole commission fees for middleman are falling away, which makes money transfers much cheaper.

The revolution is currently starting to take place even though it has not been fully used globally, but for certain groups, cryptocurrency enthusiasts, this has become one of the most profitable alternatives. Although we know that the use of cryptocurrency for instant and micropayments is less effective, especially those using BTC (because in my opinion, it is more suitable for investment and commodity trading and macro payments). One day there will definitely be new innovations that maximize their function as a means of payment for the daily life of cryptocurrency, this is also influenced by the thinking of the general public and of course the support of facilities.

Peer to peer will never disappear whether it's with the traditional transaction or with crypto transactions. It just keeps on upgrading and there might be something new in the future but we have no glance about that. If money revolution succeeds which I assume you mean is crypto, it's already successful IMO. Base on the market that it holds right now despite on how too young it was, transactions are vast.

The same currency that us backed by government, which seems to have value, can also be devalued, if the country is bit producing as it ought. The same is applicable to the coins in crypto, which are backed by certain products. It would have been good if government can have reasons to support SOE genuine crypt I currencies.

I'm not sure that there will be a big revolution, but the fact that crypto will occupy a very important place in people's lives, that's for sure. Already now it is rapidly being introduced into our everyday life, it will only get better in the future.

The revolution is here it’s just not distributed yet.

The crypto threat is the fear of the big bankers and the old proverb confirms the resistance towards the crypto revolution: You can't teach new tricks to the old dog ;) The bigger this sphere goes mainstream, the more pressure gets stronger by the "big dogs". The reality we faced today is not changeable in the short term, the longer it gets weakens, the pipeline's holes will leak bigger and fearful liquid..

I'm sure crypto will continue to grow rapidly until later. The world has begun to be literate about blockchain technology. Maybe this makes the top dog a little scared. Although China has started its own crypto which is certainly cetralized, but this will open the eyes of ordinary people as much as possible there in the world of crypto and blockchain. Which of course this is very good for future market development. Not to mention that Turkey will digitize their lira with blockchain. All eyes are now on the crypto world.

But that isn't why bitcoin was created.  It was ostensibly the work of one man (tho I doubt that's true) and kind of came out of nowhere.  And sure, a lot of people have gotten interested in it, but that doesn't mean the world *needs* it, and I'm not sure it was even created in response to anything unless it was the fear that the banking system would collapse shortly after 2008. 

That's the only answer I can think of to op's question.  What I'm saying is that it wasn't like millions of people were carrying picket signs and demanding that we get a new, bankless form of money that isn't controlled by the gov't.  It just turned out that we did.

Those "top dogs" you are talking about are also really concerned about peoples security. Now, don't deny that there are right now lot of flaws when we will be trying to use it as a tradition crypto currency instead of fiat currency. More improvements are needed to bring a perfect crypto currency that is ready to be used as a legal tender. A currency that can be used by anyone without any problems and at ease.

Bitcoin uses peer to peer transactions and several other altcoins. The government promised such a thing that China's country instead ordered the government to adopt the blockchain and made its own national digital currency. If in fact it just adopts blockchain means not why to introduce to their country that the blockchain could be used. The revolution you are referring to like this. As well as Chinese governance.

I do not know if I understood you well. Perhaps you mean those who siphon fund. Cryptocurrency is finding hard time to strive, because of the  decentralized ones, even central coins might not be regarded, because they might think that they cannot be in control of it.

Crypto is definitely the future, everyone agrees that we will have a paper/fiat less future where we will be using digital payments globally so we should be happy to say that this dream can only become a reality through cryptocurrencies, i personally expect crypto mass adoption in next 5 years.

I do not know if I understood you well. Perhaps you mean those who siphon fund. Cryptocurrency is finding hard time to strive, because of the  decentralized ones, even central coins might not be regarded, because they might think that they cannot be in control of it.

I still doubt the role of Bitcoin will replace the money that we know today. Fiat money has an effect on economic growth and also on the existence of the country and if Bitcoin takes over the role of fiat money, I think the country will not exist anymore. But if Bitcoin is played as a digital asset, I think this makes more sense

It makes no sense for bitcoin to be placed as a digital asset alone, because having a digital asset was never the problem that Mr satoshi saw that made him create the bitcoin as cryptocurrency, there are so many digital asset that one can hold aside bitcoin and has been in existence for a long time.

The reason why bitcoin creator saw that there is need for a cryptocurrency is because he saw that there is a challenge in the fiat system, which is why he create it to serve as a peer to peer payment system, but we are the one turning it to a digital asset product. The coin itself was never meant to also replace fiat, but was meant to serve as an alternative to the fiat which we have seen how effective it could be for mots business men and women.

Do you have any suggestions as regards ‘improvements’?

On the question of its status as legal tender, if it is seamlessly
convertible into other currencies, commodities, basic products
and services at a published and transparent price, it is de facto LT.

Words of Wisdom…