Bitcoin Forum

So in the future, fiat currency will become digital only and cash will completely disappear. Credit cards will also disappear. People will be implanted with chips that contain all their information and they'll need the chips when buying or selling goods

 I have many questions:

How would bitcoin coexist in the future with this method of payment?

Will it get accepted as a second currency?

What about other crypto currencies or bitcoin forks?

I know we are all excited about bitcoin but I don't believe It will become #1 currency in the world, the banking system won't simply let us. If the banking system will create something then they will create it centralized and totally controlled by them, Mr.Robot (Ecoin) is an example of that.
I also don't think that cash and credit cards will disappear anytime soon honestly, I mean credit cards exists for long time now, still, a lot of people still use cash. Finally, I think Bitcoin will co-exist just like It's co existing with fiat right now.

Nobody will plant a damn chip into my body and I see no need for it with the technology advances we have made with payment technologies.

Why do you need a chip in your body, if you can have a electronic wallet built into your hat or glasses or on a ring or imbedded into ear rings?

Contactless payment systems are already built into some card now, and you will soon see this in other devices too... like your cell phone.  ;)

MadGamer has a very good point here. The banking system will not approve BTC as the #1 currency in the world. They will find a way to create something that will directly compete to bitcoin. We all know that the banking system that we have right now is here to exist forever. Some people will still favor the bank over BTC even in the future, in my opinion. As for the other cryptocurrencies, I think there will be 2 or 3 altcoins that will be on par to BTC. Their rapid growth in terms of marketcap is quite alarming and I wouldn't be surprised if they will be on the same level to BTC in the coming years, or even more, surpass it.

In the example of mr. robot, it was especially bitcoin that was thriving before and during Ecoin was launched. Bitcoin has a solid spot there for anyone not willing to use a currency like Ecoin and that's the beauty of it.
Just like you can trade fiat for bitcoin now, even in the worst case like Ecoin, you will always be able to buy bitcoin with it.

I don't think that we will be implanted with chips for our information and to buy and sell,
And if the Fiat currency will become digital only I think Bitcoin would be the best to be place as the new Fiat when it happens.

In india people have not heard about credit cards , debit cards at all .due to demonetisation people applied for debit cards for atm .here cash will flow on and on till people are educated .even government hotels doesnt accept cards at all.
Bitcoin acceptance is a long way to go .we need people to join hands to accept it jn mass acceptance.

NO chips for me Thank you!

Same as it is right now that is if bitcoin is able to survive that long, but the system will probably change
because of the progressing technology but I doubt bitcoin will still be around. people especially banks/government
will find a new system that is better and superior to bitcoin(but of course it is centralized).

That just makes absolutely no sense.  There's no real or accurate way that people would use chips in their body for payment, or reason that that would happen and you're presenting this as if it's fact.  You even claim that cash will disappear when cash is and will continue to be a useful means of payment.
By being useful in day to day life - helpful because it's decentralised so if people were concerned that their credit cards, which they would most likely still use weren't protecting their privacy they would use Bitcoin (and especially so if they wanted their currency to deflate).
It is a second currency.  A government doesn't have to say that Bitcoin is a currency for it to be a currency.
Other cryptocurrencies will either be still just used for meaningless trading, or if Bitcoin turns out not to be scalable, there might be cryptocurrencies for different specific purposes (or cryptocurrencies might cease to be used).

Simply, like present !
No matter if fiat turn digital or chip, its not form but concept behind fiat which entertains competition between two.
Untill government develops the concept of people's money or we can say "currency open source" like open source coding, Bitcoin vs fiat rivalry continues for ages.

- Nobody can predict future but bitcoin is self sustainable system so i think it can survive for long time in future.

- Which you think will be first currency?

- Most of the other cryptos that doesn't provide any real life uses and are just clone of bitcoin will die within next 10-20 years.

credit cards won't disappear they will change form and the future you are describing is not going to happen in many years. and fiat will be in a different form.

and for all we know we all are dead and we shouldn't even be caring about anything by then :)

but in any case bitcoin will still be different as long as it remains decentralized and alive and with all the characteristics it has today. and any other "digital fiat" will be centralized and that is difference enough for you.

97% of fiat is digital already. Cash is a quaint layer on top.

I can't think of many places that would willingly hand over total control of expenditure via implanted chips but no doubt someone's going to try.

The same way it does now... as a rejection of the authority of central banks across the globe.

 8)

A bracelet type chip would be preferable. You can put your bitcoin micro wallet in there along with your government supplied "ID chip"

The same way as it is today. Maybe will be a mobile wallet where someone can have many cryptocurrencies and fiat as well. 

There is none could answer 'yes' or 'no'. But, who really cares? The point is to be a currency and if is possible to be accepted in many places in the world. Second or third; only the conversion rate has meaning.

About other cryptos the same as it is today. The more strong ones, with a big user base will achieve to survive, some of them will be used as a medium of payment and the rest will die. As far as it concerns the possible bitcoin HF there are so many threads in the forum where you can be informed.

Bitcoin is currently coexisting wth the fiat right now. We use bitcoin in fast transaction but if we need to buy something in malls and supermarkets ( not including the stores that accepts bitcoin as a payment ) we convert it to fiat.

If we are talking about the future and if you are asking how will bitcoin coexist with the fiat in the future, then first thing is that in order to coexist two products, two products must exist so if you are talking of making bitcoin the number one currency that would be hard because bitcoin coexisting with fiat will only make fiat number one. ( e.g bitcoin is needed in transactions and in order to buy things convert it to real money ). That wont change the situation of bitcoin. Making bitcoin as a number one currency with a co existing fiat is still a blurry situation to me ( unless bitcoin will be used as a reserve ; oil or gold ).

You're right.
Bitcoin is connected to the whole fiat system so Bitcoin couldn't be a Currency at the moment. Once the people in the world start to recognize Bitcoin as the payment of choice, I am kind of sure that people will still try to stick with the major Currencies because of the reputation that it has.
In my opinion, Bitcoin seems more like a token rather than a Currency. Bitcoin could get used more in online games than being spent in stores.

There is digital fiat right now guys and Bitcoin is coexisting with it at the moment. I doubt it that it would be any different in the future than the current situation. If people prefer to use Bitcoin then they will use Bitcoin it's just a matter of personal preference.

Fiat currency is already digital. I understand that some governments are trying to block the use of cash - India is one that springs to mind. The interesting development is the emergence of gold backed currencies. China seems to be using a gold backed Renminbi to buy oil from Russia. Britain has a gold coin with a nominal value of £100 which is legal tender, and there are others such as the Sovereign and some silver coins.

Bitcoin is an Internet currency, and it seems to me that it is unrelated to any government or fiat currency.

But today's digital currency is just optional to use I think what OP means is that If digital currency is being used mainly
by the people how will BTC coexist with it surely features that can beat BTC will be applied to the digital currency and might
be able to outshine bitcoin and be forgotten by everyone.

This looks like something we only see in a science fiction movie,but I doubt if this could happen in the next ten years,government and the banking institutions will offer strong resistance,because banking is a multi billion industry and government can impose taxes in this industry something the crypto currency cannot.

almost the same as fiat money, how curency be useful, but cryptoccurency is a special currency and used special too, or could be saving a digital future, without the intervention of banks using a fiat currency, and use desentrelisasi may have an advantage cryptoccurency. the future is not yet of course we certainly need special savings for the future is less clear, and that is certainly aware of this underlying as an investment in the future.

Who cares about fiat, digital or not?

Fiat is a thing of the past, and it doesn't need to exist at all.

I suppose when such future will come it will come the era of new global currency with which you will not even need to convert it in some other currency. So all people will use one Worldcoin or something like that.

Dude, those implanted chips you are saying only exist in a Sci-Fi movie. Stop relating our real future with those in such movies for those are merely wild imaginations.


At the beginning, bitcoin is already coexisting with the fiat money so even if bitcoin gets accepted worldwide, it will be the same.


Actually, I personally do not know. And as for my opinion, it has no sense at all if it will be treated as a second currency. Bitcoin will still be bitcoin. We can use it in any transaction so why treat it as second currency?


What is your clear question regarding those? I cannot answer such question correctly/accurately if the question is unclear. It will just raise confusion.

I think fiat will still be used for everyday transactions.  Bitcoin has a specific market of computer nerds - that's why services like Steam are starting to accept it.  The option of Bitcoin may exist on online shops like Amazon, though.

Wait what chips ?! Why do we even need any chips if we can just implement it to maybe a digital bracelet or iwatch.

Down to the serious talk. I just don't think that bitcoins will ever become the ONE and the ONLY currency used.
Why ?
Simple. Banking systems won't allow such "uncontrolled" methods to take over. It shall live side by side with fiat. The fact that bitcoins are banned in some places isn't favorable of your idea either.

Bitcoin could be used as a reserve asset or a transitory currency, either would be fine.

Actually here no one can say about the true future of the bitcoin . Because existence of bitcoin is going to destroy in few countries and opposite of this most of the countries accepted the bitcoin officially , so here it is more hard to predict about the future of the bitcoin as an secondary payment system .
But it is still truth that bitcoin will be use by the every day by day with growing rate and no matter wether any country hate bitcoin .
But here it is possible also that some most famous cryptocurrency also got the priority to use .Well all over depends upon the future where the countries government will see the bitcoin from which point of view .

I think that bitcoin will be accepted as one way of payment by most countries.
But they will all make rules and regulations of how bitcoins have to be handled.
In the end of that process I do not think it will make much difference if bitcoins are used or the local fiat.
And people will comply to that regulations, after all most of them fear the conflict with the authorities.

Bitcoin coexisting with other digital currencies is possible, but if such thing happens sure bitcoin becomes an centralized asset. More countries have plans on implementation of digital currency for their own country need, when it gets combined the government have control over every transaction. So anonymity too gets destroyed.

Yes the idea in their is very incredible that bitcoin will be used for good, but for me, cash won't never ever disappear, yes maybe bitcoin can be used in everything but it doesn't mean it could disappear the money. Maybe bitcoin can be another way to used in buying the things we want. Micro chip? Well i doubt it :)

this is somewhat preferable than having a chip implanted on the body. also, having a government id chip is a good idea too for identification purposes.

and with the question of the op if bitcoin "will it get accepted as a second currency?"  it is already for most of the country. you can visit netherlands or research about it. in arnhem city, there are so many shops down the city who accepts bitcoin as their second currency.. its not only netherlands but so many countries already doing this.

I think whenever a digital national currency exist and the paper money does not exist anymore, Bitcoin will function as another currency which can be use as an alternative to any nation's currency.  Since bitcoin provides ease of transfers without any bank intervention, people might find it worth using as an altenative than their own's nation in sending currency world wide.

Well cash will never be disappear because the country need fiat to balance their economic, depend too much on technology for doing transaction is a bit dangerous because we know that not all network is secure and then credit card served different purposes because credit card is more like debt, and even all of them not exist anymore bitcoin also got an advantage which is anonymity and can act as investment, and there are already country that accepting bitcoin as second currency

I think this is possible. We are heading towards cashless money, although I think cash will not disappear entirely, but fiat as digital version and Bitcoins could co-exist and that is the future.  Aldo I don't think that credit cards will disappear, some forms of physical payments will be kept, at least for a while.

Didn't you guys read the memo? :D people are fine and happy using fiat and they will be in the future, though I don't know about chips in our bodies since I won't use such technology to become cyborg :D but there might be a network where all the cctvs/ cameras in every shop/ store/ restaurant/ gas station, etc. will identify your face and whatever you can purchase or more like you can go and grab whatever you want to buy and then walk out the door while the cameras automatically calculated the amount of your purchase and deducted it from your bank account and no employee to work in those places other than of course the usual security guards which even right now most of them lack, and if your balance is not enough of course the door won't open or the guards will stop you and over all there are some down and up sides but that method is more practical/ logical/ achievable.

I doubt if 90% of all the people want to use bitcoin not for any particular reason but they rather stick to the norms, and they really don't need to use it.
Only the people using bitcoin right now for the use cases, easy to use/ transfer. basically being the money and the vault both at the same time.
Being something new giving people many new opportunities enabling them to print their own money in their houses ( yeah I know mining is no longer profitable and bla bla bla :D ) being a decentralized system, many countries sanctioned by the world eaters ( world powers) leaving them with disadvantages but their people shouldn't suffer from political conflicts and are truly innocent but unable to conduct businesses with other nations/ countries for the very legit reasons ( not any military/ illegal purchases) they can use bitcoin and in that matter justice really has been served properly by the benefits of BTC.

Anyone coming in contact with cryptocurrencies and could use them for something then they'll do so no matter if you live in tyranny or democracy people will do whatever they want.

Bitcoin will be accepted as a form of payment be it in the local shops, merchants and in any kind of business and services there is. But even though bitcoin is accepted it doesnt mean that it can replace fiat currency. One big reason is the amount of bitcoins in the circulation and it cannot cater the total number of people in the world and the total number of fiat currency in the circulation. But anyway it doesnt matter the important thing is that bitcoin is accepted and is increasing in value.