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Bitcoin => Bitcoin Discussion => Topic started by: BlackHatCoiner on April 22, 2020, 05:46:56 PM



Title: Will bitcoin be the ideal currency of the future?
Post by: BlackHatCoiner on April 22, 2020, 05:46:56 PM
When I say ideal I mean:

  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.

These are some basics requirements for the ideal currency. But I have a question. There are public and private keys out there. You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?

Should bitcoin use SHA512? Or something even stronger?


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: 20kevin20 on April 22, 2020, 06:18:17 PM
Well, I mean.. Bitcoin transfers aren't as fast as PayPal, for example. Credit card payments are instant and require no blocks to be mined to be confirmed. It's not the ideal currency and it will never be.

The ideal currency is one that solves all issues that Bitcoin has too. Don't think it's perfect in any way. For one, transparency might actually be a problem (hence the existance of privacy coins like Monero). Bitcoin is a great cryptocurrency, but I don't think it'll ever touch the idea of it being used as a national one.

Since we already have banks working on their own emissions, it became pretty normal to me as a thought that Bitcoin will not be the "chosen one". Banks will most likely still exist. Third parties will never leave because.. hell, why not make a handful of people more powerful than a country (literally), right?

Maybe there'll be a global currency. Maybe only one bank. Maybe only few people will govern the world. Maybe everyone will rebel against the existing banks and finally wake up to the reality. The fact is, the last supposition is the least possible scenario while the rest are becoming more real than ever, especially as we speak.

It's all uncertain right now. Just a "maybe".


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: avikz on April 22, 2020, 07:31:45 PM
When I say ideal I mean:

  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.


And how do you conclude that the above mentioned parameters will denote an ideal currency?

What about speed? What about stable value? What about fair distribution?

An ideal currency doesn't exist in real world and bitcoin is not even close to an ideal currency!


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: BlackHatCoiner on April 22, 2020, 07:35:13 PM
When I say ideal I mean:

  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.


And how do you conclude that the above mentioned parameters will denote an ideal currency?

What about speed? What about stable value? What about fair distribution?

An ideal currency doesn't exist in real world and bitcoin is not even close to an ideal currency!

Well, I didn't thought of these. But about stable value, we determine it. We just have used to compare bitcoin with dollar. Imagine if there wasn't any euros or dollars. Just bitcoins. I think it would mean stable.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: princesspoppy on April 22, 2020, 11:59:30 PM
I believe that there are many criteria to consider a currency an ideal currency. Every people have their own criteria for it. Well, there are different pros and cons of each currency and way of transaction available in this world. Only a person can say if such currency is ideal for him/her or can say that "this currency is better than this". But in general, I don't see any ideal currency for now.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Darker45 on April 23, 2020, 02:50:34 AM
Far from being an ideal one. For sure, it is much better than fiat, but not really ideal. I cannot say whether an ideal currency will arrive anytime in the future, or perhaps an ideal currency depends on a particular era or even among people, but I know that an ideal currency should be completely smooth and without any inconvenient glitch. Bitcoin is quite far from that. For example, ideally, I prefer my transactions to be instant. I also don't want to pay a fee for spending my money. I also don't want people to know how much money I have in my wallet.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Coolcryptovator on April 23, 2020, 06:54:06 AM
You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?
Bitcoin has been created more than 10 years ago, have you found anyone had brute forced private keys? I am not sure if it's possible even with quantum computer system. But I believe if it happened then there will be something to prevent it. I don't believe it would be spoiled by humans since. Don't feel that bitcoin or crypto industry will be spoiled very easily since there is big community for it.

Regarding your concern about ideal currency is quite complicated since there is no bitcoin existence on real life and worldwide governments don't want to support it due to many reasons. Most probably we would see more advance and ideal currency in future which would exist even on real life, but who know about future.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: sheenshane on April 23, 2020, 01:10:59 PM
In a way, Bitcoins has many advantages than the regular one. However, considering it as the ideal one still, it is far for being the best and can be the global currency. When we say ideal we need to consider first how it became ahead than the others. It should also address the issues of what others are experiencing.

But I know it takes time to become one if ever that will happen. Since we know that the government wants to manipulate all forms of currency under the state. As of now, let us accept the fact that Bitcoin belongs to valuable assets, just like precious metals.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: 3meek on April 23, 2020, 02:50:01 PM
First of all, it is not profitable for states to replace national currencies with Bitcoin! And they won't let that happen!

I would call Bitcoin an ideal alternative currency, which belongs only to you and no one can forbid you to use it! ;)


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: kawetsriyanto on April 23, 2020, 10:12:52 PM
I would call Bitcoin an ideal alternative currency, which belongs only to you and no one can forbid you to use it! ;)
Yeah, it should be better to use as an alternative currency even if it also isn't so easy to happen. We know that not all countries allow it to use as a payment tool. In this situation, you cannot use the Bitcoin as an alternative currency. Regarding it is ideal or not as an alternative currency, the answer may be subjective and depend on how you view it.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Jating on April 23, 2020, 11:06:25 PM
I think this is not how bitcoin could be an 'ideal currency', but it seems the discussion is turning out to be how secure or resistant a private key against quantum computers attacks. For that discussions, I may prefer the OP to the following thread:

I don't believe Quantum Computing will ever threaten Bitcoin  (https://bitcointalk.org/index.php?topic=5157696.0)

Would Quantum Computer Kill Bitcoin (https://bitcointalk.org/index.php?topic=5189607.0)

In 10 years from now a quantum computer (https://bitcointalk.org/index.php?topic=5167577.0)

Quantum Computing and Bitcoin (https://bitcointalk.org/index.php?topic=5075137.0)

@OP, we really admire you enthusiasm by opening threads and asking question. However, if you will used Google to search first before opening a thread, it will safe you a lot of time.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: finaleshot2016 on April 23, 2020, 11:14:17 PM
Bitcoin was amazing and those features are really important to us but I don't think it's the perfect currency for the future. And some governments are against putting this currency into action within their own country. The attacks on it are also rising as our technology progresses. Those data and so on would easily be swiped and gone if an internet crash occurred. If bitcoin aim to become part of the mainstream financial system which is the ideal currency in the future may need to follow widely divergent requirements. If there are many people who have supported the use of bitcoin, the government should introduce seminars that discuss security to prevent phishing and hacking because they are going to be an easy hacker target.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: imstillthebest on April 23, 2020, 11:23:54 PM
i see so the main concern here is the possiblity of hacking a btc wallet   .  so the question if will btc improve its security yes if thats the only way to prevent the hacks  . i dont know if what are the draw backs of doing it but  i think imrpoving the security is someting that people are going to agree with   . other than that ,  the longer people expose on btc the more they will become interested on it  but i dont think that btc will be the ideal currency of the future because i believe other currencies and payment methods that we have now can still remain also   .


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: htsy585 on April 23, 2020, 11:28:22 PM
When I say ideal I mean:

  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.

These are some basics requirements for the ideal currency. But I have a question. There are public and private keys out there. You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?

Should bitcoin use SHA512? Or something even stronger?

With the current state of bitcoin and the general cryptocurrency market, i can strongly say bitcoin is far from an ideal currency as it's still lacks some basic features of an ideal currency. Like you said,  before a currency is being termed an ideal one, it must possess lotsof basic features such as high speed transaction, high security and non volatile and to be honest, bitcoin and every cryptocurrency out there lacks these features and i guess in the next few years will be about finding solutions to such problems


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: finaleshot2016 on April 23, 2020, 11:35:23 PM
i see so the main concern here is the possiblity of hacking a btc wallet   .  so the question if will btc improve its security yes if thats the only way to prevent the hacks  . i dont know if what are the draw backs of doing it but  i think imrpoving the security is someting that people are going to agree with   . other than that ,  the longer people expose on btc the more they will become interested on it  but i dont think that btc will be the ideal currency of the future because i believe other currencies and payment methods that we have now can still remain also   .
Hacking is not the only limitation in having digital as the world's main currency, so it's certainly going to be hard to introduce Bitcoin as the mainstream currency. Additionally, hacking is only possible for publicly accessible user keys that's why some are creating phishing sites to fool around some newbie in the digital world. It's quite difficult to hack in the blockchain since the data is decentralized and encrypted by the whole network and because you need a device that can decrypt all those nodes in the network that we still don't have.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: maxreish on April 24, 2020, 02:43:46 AM
I do not think it is still ideal in the future. While there is a vreat features of bitcoin as a currency but there are a lot of glitches too. Bitcoin has limited supply and if we are talking about futures then the supply will be lessen thus making it more in demand which the price will be higher than today. And come to think of it, transactions will be going slower if more people will gonna use bitcoin as currency.
 
 However, we can always consider bitcoin as alternate currency which serves as alternative monetary system. Wr can't remove the fiat currency we are using even in the future. That's the reality.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Little Mouse on April 24, 2020, 02:54:35 AM
Bitcoin has limited supply and if we are talking about futures then the supply will be lessen thus making it more in demand which the price will be higher than today. And come to think of it, transactions will be going slower if more people will gonna use bitcoin as currency.
If bitcoin becomes the ideal currency, price of bitcoin will not be there. It will be like price of a smart phone is 0.0005 BTC or like that. Regarding the transcation delay, I think it will also not be an issue because Lightning Network is there and there will be many more off chain transaction service like coinbase.
Anyway, it is too far to think bitcoin as an ideal currency of future. I also think that it is not possible due to the fact that govt will be there and they will not use such a currency which they can not control.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: pooya87 on April 24, 2020, 04:15:00 AM
Should bitcoin use SHA512? Or something even stronger?

SHA512 is not stronger than SHA256, it is just producing a bigger result otherwise as far as speed of computing it goes it is on par with SHA256. not to mention that hash functions (in the near future) will only be considered weak if there is any flaw in their algorithm like SHA1 and not exactly for their size. and since SHA512 and SHA256 are the same exact algorithm, you can't switch to SHA512 to increase security.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: davis196 on April 24, 2020, 05:21:13 AM
When I say ideal I mean:

  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.

These are some basics requirements for the ideal currency. But I have a question. There are public and private keys out there. You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?

Should bitcoin use SHA512? Or something even stronger?

1.AFAIK Coinbase rewards are mostly altcoins(if you are talking about their Coinbase Earn program).
2.Bitcoin will have value as long as people continue to use it.
3.Everything can be spoiled by humans.
4.No one controls it?I hope nobody will control the blockchain after X amount of years,but we can't be 100% sure.
5.If you want real quick transactions just use fiat or some lightning fast altcoin.I still don't get why people always want instantaneous transactions.Will the end of the world come if you wait for 30 minutes? ;D


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Eugenar on April 24, 2020, 05:55:29 AM
I don't think that it would be possible in future, even though cryptocurrency has been used by so many people around the world, even though it is really helpful for everyone who is using it, it cannot still be a standard currency in the future because as what we all know it is decentralized, which means it cannot be handled by the government and its volatility makes it not suitable to be used for daily lives.

I think cryptocurrency is only good as an alternative currency for fiat currency, it is meant to be converted to fiat currency whenever we want to.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: KrisAlex18 on April 24, 2020, 06:18:23 AM
Yes, it can be, bitcoin can be the ideal currency in the future because of technology, technology keeps evolving time by time, and as we all know bitcoin came from emerging technology made by Satoshi. In the future, we will become more advance and it is really possible that bitcoin will be adopted all over the world because of so many things that bitcoin can be.

There are so many things that may happen in the future, and making bitcoin as the standard currency for all countries is really possible because it is a really good currency at all.

I believe that there are many criteria to consider a currency as an ideal currency. Every people have their own criteria for it. Well, there are different pros and cons of each currency and way of transaction available in this world. Only a person can say if such currency is ideal for him/her or can say that "this currency is better than this". But in general, I don't see any ideal currency for now.
Great, making cryptocurrency as a standard currency is not that simple because there are so many things to be considered but I think bitcoin can be in the future because we are now used by technologies.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: pankaj1234 on April 24, 2020, 07:08:25 AM
It will be very early to say but now community are well know the bitcoin and Cryptocurrencies. More country comes in this field will definitely boost bitcoin and government might look to consider as currency for future. Present time with covid19 people are searching bitcoin and crypto at their homes.
So in my opinion bitcoin will be going to ideal currency for future.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Bitcoinislife09 on April 24, 2020, 09:49:58 AM
I believe that there are many criteria to consider a currency an ideal currency. Every people have their own criteria for it. Well, there are different pros and cons of each currency and way of transaction available in this world. Only a person can say if such currency is ideal for him/her or can say that "this currency is better than this". But in general, I don't see any ideal currency for now.
When we talk about ideal currency it has many criteria and every person has his own idea about an ideal currency. Talking about the ideal currency I think bitcoin can be an ideal currency in the future. As of now bitcoin is very famous and many people are already using bitcoin. Bitcoin are also accepted by some establishments as their mode of payment and that makes every transaction easier and faster. Through bitcoin one can lessen their effort and time in paying bills and payments.For me these are reasons why bitcoin may be an ideal currency of the future .


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Japinat on April 24, 2020, 09:52:34 AM
It could be but there should be a 3rd party to facilitate an easier transaction.
It's true that bitcoin is decentralized and no one can hack its system, so this is safe and will exist if people will continue to use it.
the price does not matter if its use for online currency, but directly it's not as fast as other payment system, they will beat us, so like I said, we need a 3rd party so people would adopt on it.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: verita1 on April 24, 2020, 10:07:22 AM
Well, if we predict the future of Bitcoin by 2100. It is an incredible thing that can happen there will be great advances for that moment and, of course, improvements in the use of bitcoin. We just need a strong community to make Bitcoin deliver on people's empowerment and solve the problems of everyday life.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: BlackHatCoiner on April 24, 2020, 10:14:22 AM
Should bitcoin use SHA512? Or something even stronger?

SHA512 is not stronger than SHA256, it is just producing a bigger result otherwise as far as speed of computing it goes it is on par with SHA256. not to mention that hash functions (in the near future) will only be considered weak if there is any flaw in their algorithm like SHA1 and not exactly for their size. and since SHA512 and SHA256 are the same exact algorithm, you can't switch to SHA512 to increase security.

Yes but 2^512 would be more difficult for brute force. Generally the whole thread I created is about brute force. Brute force will always be greater and greater over time. If the year 2100 (for example) we can brute force a private key, the entire network is ruined. SHA512 would be more difficult because of more different combinations.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: bitbunnny on April 24, 2020, 10:51:27 AM
It could be but there should be a 3rd party to facilitate an easier transaction.
It's true that bitcoin is decentralized and no one can hack its system, so this is safe and will exist if people will continue to use it.
the price does not matter if its use for online currency, but directly it's not as fast as other payment system, they will beat us, so like I said, we need a 3rd party so people would adopt on it.

It's not only about the speed of transactions, that is.just one part of problem that needs improvement.
To be used as a currency and to be fully accepted and adopted in financial world Bitcoin needs regulation, it needs legal security. Without that it will be not accepted neither by businesses or individuals in larger scale. People don't like to use something they don't trust.
Also, currently only small number of people in the world is using Bitcoin and cryptocurrencies in general. We need to change that in order for Bitcoin to become a currency of the future.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: XCANA on April 24, 2020, 11:31:39 AM
Without a doubt it will be a currency of the future.

In as much as am a fan of Bitcoin and cryptocurrency in general, the future is very not clear about the digital currency, most especially Bitcoin and some other decentralized digital currency. The government has been on their neck of bringing them down by regulations which to me will take enough of time to go through. The future might not be for Bitcoin but government approve digital currency for global adoption(this will surely be a centralize digital currency with surveillance).


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: BuNga_cute on April 24, 2020, 11:58:41 AM
I, as a supporter of bitcoin, would certainly say that bitcoin is an ideal currency, although bitcoin still has some shortcomings. Such as
volatile prices and transaction speed are still not included fast when compared to credit cards. After all the government and the bank
will never approve bitcoin as the main currency replacing fiat. Because bitcoin cannot be controlled, the government does not get tax
income from bitcoin.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: hung58bitcoin on April 24, 2020, 03:39:55 PM
I do not think bitcoin is the ideal currency to exchange goods in the future. Because the price of bitcoin fluctuates so much during the day. Imagine you use 1 btc to buy 1 Macbook. But the next day you can not buy a Macbook with 1 btc because the price of btc can big dump significantly. I think that btc is used as gold which means that it is a speculative product and not a purpose to create currency to exchange goods.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Sanugarid on April 24, 2020, 03:57:15 PM
I believe that there are many criteria to consider a currency an ideal currency. Every people have their own criteria for it. Well, there are different pros and cons of each currency and way of transaction available in this world. Only a person can say if such currency is ideal for him/her or can say that "this currency is better than this". But in general, I don't see any ideal currency for now.
When we talk about ideal currency it has many criteria and every person has his own idea about an ideal currency. Talking about the ideal currency I think bitcoin can be an ideal currency in the future. As of now bitcoin is very famous and many people are already using bitcoin. Bitcoin are also accepted by some establishments as their mode of payment and that makes every transaction easier and faster. Through bitcoin one can lessen their effort and time in paying bills and payments.For me these are reasons why bitcoin may be an ideal currency of the future .
Yes, we have different view of our own ideal currency, but isn't it ideal to spend your currency peer to peer in seamlessly way using just your phone, or great if we already have microchip that time. Bitcoin has the best shot to be the currency of the future trust me, even it has a high volatility rate we can do some action to make it less volatile although it's super vague for now. Bitcoin adoption is increasing so there is no doubt that it will be bigger any time soon.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: ChiBitCTy on April 24, 2020, 04:38:49 PM
When I say ideal I mean:

  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.

These are some basics requirements for the ideal currency. But I have a question. There are public and private keys out there. You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?

Should bitcoin use SHA512? Or something even stronger?

Well bitcoin already is decentralized, isn't born out of thin air, and mostly is pretty quick.  Now you're talking about quantum computing, and if it will be able to crack the blockchain.  That's the beauty of cryptography, it's workable code.  It's supported by a team of devs who are constantly working to improve the chain and all aspects of it.  As time progresses, they will have the same ability to utilize the tech and make necessary changes to prevent issues from happening. That's the hope anyhow.  Now ..what about AI?  If AI evolves like many fear, then all games are off for ANYTHING in this world.  Money transacting could become pretty unimportant at that point.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: suzanne5223 on April 24, 2020, 05:33:16 PM
This is not the issue of the future because bitcoin have already be an ideal currency and this is the reason why some governments and central banks are planning to create their own national digital currency.


Do you think that bitcoin will be spoiled by human in the future?
The only ways people debated bitcoin can be spoil are through quantum computer but it yet to be implement.
The second aspect is government ban but bitcoin is already winning over the government affection.

Should bitcoin use SHA512? Or something even stronger?
It can use SHA or something stronger but that will be determine by things happening in the miners realms.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: gundala on April 24, 2020, 06:06:00 PM
When I say ideal I mean:
  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.
~
HHmm ... That's the ideal parameter for your version, right? for me, it is all useless if the volatility is high, prices will easily change so it is not ideal as a means of payment. Bitcoin does have advantages from the other side than fiats, such as transparency and mathematical decentralized systems. Fiat also has other advantages compared to bitcoin, related to price stability. So it is better to use both of them as needed, taking advantage of each of these currencies. This will make life easier.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: online73 on April 24, 2020, 11:52:26 PM
Hello everybody. Iím not sure what exactly Bitcoin will be the ideal currency in the future, but the fact that it will be a cryptocurrency is one hundred percent sure. Now there are too many shortcomings and disagreements, what would happen in the coming years. When thieves leave the political arena, then humanity will step into a new era, including the era of cryptocurrency. And now, the only thing you can do is to start improving yourself and your children. We are sure to build an ideal world where everything will be, everything that is very difficult to imagine in today's society.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Sadlife on April 25, 2020, 12:13:08 AM
In my opinion Bitcoin is perfect for that criteria, when you learn about our monetary system about fractional reserve banking, infinite quantitative easing and control over your money. Then the obvious choice would be Bitcoin a much fair and offers financial freedom that you can freely control without the risk Governments seizing your networth because it has no centralize authority.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Shasha80 on April 25, 2020, 12:44:55 AM
Of course bitcoin is an ideal currency, hopefully in the future it can be realized that bitcoin can become a global currency.
So it can facilitate transactions between countries, although for now the government still hasn't accepted bitcoin.But there
is still a possibility that the government will change its mind. Hopefully the government can quickly realize that bitcoin is
better than fiat.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: ampere on April 25, 2020, 09:17:10 AM
Bitcoin cannot be the ideal currency for the future, it will remain as it is today ''An alternative payment mode'"
The leverage bitcoin has is that there is no limitation to the use of bitcoin unless your country does not accept it; and that is why it is widely acceptable.

If we consider paypal; not all countries are allowed to use it.
If we take credit card for comparison, even in the same country, not all citizens can own a credit card and that is why bitcoin thrives alot, either poor, old, young, rich, low credit score, you can use bitcoin; but it is not an ideal currency for the future, fiat will continue to thrive.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: ballerin and giroud on April 25, 2020, 09:17:43 AM
Will be ideal payment at the future and bitcoin become most currency transaction needed by every one, when bitcoin have higher many people will interested to use bitcoin as payment transaction and get benefit with bitcoin have higher price and look profitable. Many project will get and accepted bitcoin as payment transaction at the future.
I hope that will be happen, currently the problem for those merchant to accept bitcoin is its volatility. They are afraid when accept bitcoin and it is price still volatile maybe they will lose when bitcoin price goes down. But this issue will be resolved when there are a lot of exchange and platform like bakkt who offer bitcoin futures. At least this way can be reducing the volatility of bitcoin price so as there is no excuse for the merchant accept bitcoin as payment system.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: TimeTeller on April 25, 2020, 09:28:02 AM
Bitcoin cannot be the ideal currency for the future, it will remain as it is today ''An alternative payment mode'"
The leverage bitcoin has is that there is no limitation to the use of bitcoin unless your country does not accept it; and that is why it is widely acceptable.

If we consider paypal; not all countries are allowed to use it.
If we take credit card for comparison, even in the same country, not all citizens can own a credit card and that is why bitcoin thrives alot, either poor, old, young, rich, low credit score, you can use bitcoin; but it is not an ideal currency for the future, fiat will continue to thrive.

Fiat is difficult to replace even 10 years from now.
Bitcoin has advantages but not an ideal currency.
The transaction fee and speed are major bottlenecks for bitcoin.
And though LN already addressed those, still the adoption is not yet easy.
We need more merchants to include crypto in their payment system.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Japinat on April 25, 2020, 09:34:16 AM
Fiat is difficult to replace even 10 years from now.
Not even gonna happen in a lifetime of a mankind. I think the government will always rule with the asset they can control and that is fiat.

Bitcoin has advantages but not an ideal currency.
The transaction fee and speed are major bottlenecks for bitcoin.
And though LN already addressed those, still the adoption is not yet easy.
We need more merchants to include crypto in their payment system.
Bitcoin has an advantage on a certain factor/s, but in overall, fiat is still better as it has a big adoption and supported by the government.
I understand that LN is good but you are correct, without adoption, it won't be able to help the adoption of bitcoin.

let's just accept the reality that fiat will always rule as they are the mirror of our government.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: lukew on April 25, 2020, 09:45:16 AM
It will never replace Fiat, most people don't want to be resposible for the security of their money. That's why banks exist, for ease and simplicity. Blockchain payments may facilitate inter-bank and inter-processor transactions on the back-end where slow transactions are not a problem, but will never be widely accepted for mass person to person payments.

Bitcoin will never be that back-end blockchain, a large scale financial system would most likely require coins that are created by the banks, transacted on the network and destroyed by the banks when the funds are withdrawn. It would be an alterntave to crediting a bank account, you provide a pubkey and the bank creates a start transaction signed by them containing the amount requested. When it's time to withdraw, you send it back to a bank and the network then marks that chain of transactions as expired and can't be used anymore.

Of course, the old inter-bank payment system still needs to exist behind this, so really it's pointless until the entire banking system moves away from old, slow, monolithic back-end accounting systems.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Taskford on April 25, 2020, 09:55:58 AM
Bitcoin cannot be the ideal currency for the future, it will remain as it is today ''An alternative payment mode'"
The leverage bitcoin has is that there is no limitation to the use of bitcoin unless your country does not accept it; and that is why it is widely acceptable.

If we consider paypal; not all countries are allowed to use it.
If we take credit card for comparison, even in the same country, not all citizens can own a credit card and that is why bitcoin thrives alot, either poor, old, young, rich, low credit score, you can use bitcoin; but it is not an ideal currency for the future, fiat will continue to thrive.

Fiat is difficult to replace even 10 years from now.
Bitcoin has advantages but not an ideal currency.
The transaction fee and speed are major bottlenecks for bitcoin.
And though LN already addressed those, still the adoption is not yet easy.
We need more merchants to include crypto in their payment system.

Agree since bitcoin still not reliable and there are so many flaws coming since the volatility is controllable by big whales and the current strength still questionable since it could easily dump once theirs a fud spread so for this it could never replaced fiat since this have great adoption and well regulated by the government. We really need merchants to became more reliable since if more merchants came especially on big industry this could be a start of global mass adoption.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: carlisle1 on April 25, 2020, 10:32:10 AM
Will be ideal payment at the future and bitcoin become most currency transaction needed by every one,
that is depend in what country the user lives because there are countries that literally accepting Bitcoin as Fiat Like japan and now Korea.
when bitcoin have higher many people will interested to use bitcoin as payment transaction and get benefit with bitcoin have higher price and look profitable.
you seems to be mislead mate,because using as transaction payment is different from profiteering so better clear your thoughts on this one.
Many project will get and accepted bitcoin as payment transaction at the future.
Adoption is what we need first because if Bitcoin stays illegal in some countries then nothing is worth nothing here.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: LUCKMCFLY on April 25, 2020, 01:00:05 PM
~snip~
If there is going to be a stronger protocol or one that is SHA-256, Iīm sure that the first thing it will take into account is the security of Bitcoin, and it will be an imminent update, not only is it the currency or technology of the future, it is the one that offers the greatest security.

The technology Financial Economical Bitcoin, cannot be compared to the security of traditional banking, Bitcoin is light years away from the traditional economy, with quantum computing many bring out the security of Bitcoin, but SHA-256 resists all possible quantum attack, and taking Keep in mind that when quantum computing comes out it will be somewhat progressive, it will not be with all the great potential that average people imagine.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: noormcs5 on April 26, 2020, 09:57:30 AM
When I say ideal I mean:

  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.

These are some basics requirements for the ideal currency. But I have a question. There are public and private keys out there. You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?

Should bitcoin use SHA512? Or something even stronger?

Bitcoin is the ideal best currency of the world but the only issue is that it is decentralized. Due to this, government and institutions does not encourage the use for bitcoins and crypto. Governments have plans to introduce their own digital currencies so that they have full control over it.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Assface16678 on April 26, 2020, 12:21:01 PM
When I say ideal I mean:

  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.

These are some basics requirements for the ideal currency. But I have a question. There are public and private keys out there. You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?

Should bitcoin use SHA512? Or something even stronger?

Bitcoin is the ideal best currency of the world but the only issue is that it is decentralized. Due to this, government and institutions does not encourage the use for bitcoins and crypto. Governments have plans to introduce their own digital currencies so that they have full control over it.

Today one of the mass adaptation is the use of the bitcoin many people now are rapidly making some improvements regarding the with use of the bitcoin. Bitcoin is one of the most and secured coin also there are a lot of benefits regarding with the use of it because first, it has less transaction fee at the same time it does not have taxes unlike the fiat currency that's why many people now are using this kind of currency to make more lessen the fees. Also with the use of bitcoin we can now make a lot of profit because we have the trading which you just need to monitor the market price of the coin and grab the opportunity to put your money and predict the next market movement of it. Next, we have the investment that you are only putting the amount of the bitcoin into your wallet and wait to the income but it takes for over a few months before you will get your earnings. Next is the gambling most of the gambling platforms today are supporting the deposit of the bitcoin which is more convenient to us because we are using this today. There is a chance it takes time before we adopt this kind of payment because the government must still handle this kind of payments to avoid getting abuse.



Title: Re: Will bitcoin be the ideal currency of the future?
Post by: witcher_sense on April 26, 2020, 12:53:37 PM
Bitcoin is the ideal best currency of the world but the only issue is that it is decentralized. Due to this, government and institutions does not encourage the use for bitcoins and crypto. Governments have plans to introduce their own digital currencies so that they have full control over it.
It is not necessary for money to be artificially printed by governments. The absence of government control of money such as gold had been a common situation for thousands of years, and only in the recent past gold first became centralized and then was completely substitued by paper money. The main reason why gold lost its monetary role is centralization, all gold reserves are now concentrated in the hands of the government and banks. That is why, the decentralization of bitcoin is not "an issue", but a huge advantage that might help it to become the better version of gold standard. It can't be centralized, printed, inflated.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: btcholder on April 26, 2020, 09:12:30 PM
I guess there are many alternate crypto currency already approach who give fast transaction than btc (if i'm not wrong then XLM is one of them). Every currency have their own specialty. So if you try to find all in one currency then i'll say it'll be waste of time. In your financial life you can easy solve many problem with btc but there is still some which you can't fixed it yet and may be people won't fixed some problem too in the far future. So i'll like to say "much usable" besides ideal.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: pixie85 on April 26, 2020, 09:28:59 PM
Well, I mean.. Bitcoin transfers aren't as fast as PayPal, for example. Credit card payments are instant and require no blocks to be mined to be confirmed. It's not the ideal currency and it will never be.
Both of these are custodial centralized solutions. You can't use a paypal transfer just like that. You have to first send money to your paypal account.

If you sum up the time needed for your money to go from your bank account to paypal and then from paypal to the person you're transacting with it won't look so fast anymore.



Title: Re: Will bitcoin be the ideal currency of the future?
Post by: cafetools on April 27, 2020, 11:37:24 AM
Bitcoin will never be a perfect currency, just like raw gold was never perfect to use as currency.

That said I could load Bitcoin onto my Bitpay debit card and instantly buy gas at a gas station etc. That solves the speed factor.

Bitcoin is like gold, its slow, heavy, and valuable, with a limited supply, and both need to be mined.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: MCobian on April 27, 2020, 12:39:56 PM
Indeed bitcoin is not perfect, there are still some deficiency of bitcoin. But it is still ideal as a substitute for fiat in the future. The problem
is that the government will never approve bitcoin as payment or replace fiat. Because the government cannot control bitcoin,then if bitcoin
cannot be controlled it certainly cannot get taxes from bitcoin. Conclusion bitcoin cannot be a global currency in the future, the most likely
bitcoin would be an alternative currency.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: suzanne5223 on April 27, 2020, 02:00:45 PM
Bitcoin can use any algorithm but it will never be considered the currency of the future. Please believe me, bitcoin is very volatile and we humans will never want to keep bitcoin to spend. because we can be rich or poor in just a few hours!
I know that you are holding bitcoin a lot and want it to have great value to become rich. But be alert and analyze thoroughly. It is very difficult to become rich in a short time when Bitcoin once had a strong growth.
Point of correction, bitcoin can be consider the future currency and if not the institutions and the government wont have see it as a challenge to their realm. Besides, they won't have consider create their own national digital currency. Aside that, do you know that fiat currency as said to be backed by governments? Read this investopedia (https://www.investopedia.com/ask/answers/041615/what-difference-between-fiat-money-and-representative-money.asp) article.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: coinstrader777 on April 27, 2020, 03:04:38 PM
I don't think that it would be possible in future, even though cryptocurrency has been used by so many people around the world, even though it is really helpful for everyone who is using it, it cannot still be a standard currency in the future because as what we all know it is decentralized, which means it cannot be handled by the government and its volatility makes it not suitable to be used for daily lives.

I think cryptocurrency is only good as an alternative currency for fiat currency, it is meant to be converted to fiat currency whenever we want to.

Yes..i agree. also governments will go extraordinary limits to avoid using any type of decentralised solutions..as they always like to have control over their monetary policies.

but bitcoin will always have it's place...especially in these "more debt" is ok conditions...bcas eventually after all the issues sorted out and all bailouts are done...an economy needs growth to satisfy people and also pay interest on these huge debts (more taxation is also a solution, but it makes situation worse in terms of growth) so eventually you need atleast a small amount of inflation to grow....inflation is a beast of its own & uncontrollable...so people will always look for inflation hedge, alternative ways to hold cash and in terms of utility also bitcoin will grow.

There will always be a place in future for bitcoin...but will it replace fiat...i don't think so!!!


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: camito on April 27, 2020, 03:58:31 PM
When I say ideal I mean:

  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.

These are some basics requirements for the ideal currency. But I have a question. There are public and private keys out there. You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?

Should bitcoin use SHA512? Or something even stronger?

Even though Bitcoin has established qualities that paid off and continuously paying off, to set it as an ideal currency in the future might be a too ambitious. We are aware that Bitcoin is something digital and something out there waiting to be mined. We are also aware that not every country and not every individual in that country can afford to have Bitcoin, more or less use it and put it into action. Poor families and third world countries are actually relying more on easy, fast, and convenient money to have. Even though Bitcoin promises a huge amount of money, people would still go with fiat to buy rice on a simple store.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Clement Kaliyar on April 27, 2020, 04:09:39 PM
Indeed bitcoin is not perfect, there are still some deficiency of bitcoin. But it is still ideal as a substitute for fiat in the future. The problem
is that the government will never approve bitcoin as payment or replace fiat. Because the government cannot control bitcoin,then if bitcoin
cannot be controlled it certainly cannot get taxes from bitcoin. Conclusion bitcoin cannot be a global currency in the future, the most likely
bitcoin would be an alternative currency.
The scaling is the biggest issue to void it as a global currency as you cannot expect a million transaction to take place every hour and until we have a solution for that you cannot expect everyone to jump into the ship just because it is a new technology, the investors we have right now can be of two category.
  • one they like a decentralized currency
  • second who loves the volatility as a means of speculative market


Bitcoin is already an alternative to fiat and in the future we will see a global adoption hoping that we will have rapid development in the next ten years.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: thesmallgod on April 27, 2020, 04:18:35 PM
Far from being an ideal one. For sure, it is much better than fiat, but not really ideal. I cannot say whether an ideal currency will arrive anytime in the future, or perhaps an ideal currency depends on a particular era or even among people, but I know that an ideal currency should be completely smooth and without any inconvenient glitch. Bitcoin is quite far from that. For example, ideally, I prefer my transactions to be instant. I also don't want to pay a fee for spending my money. I also don't want people to know how much money I have in my wallet.

Everyone has a different perspective as regards to what makes something ideal. Just as you have stated your own features for ideal currency, so many others may not have problem with this, for instance, the privacy as regards to not wanting people to know how much you have and also not paying transaction fee for spending your own money.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: South Park on April 27, 2020, 04:33:39 PM
When I say ideal I mean:

  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.

These are some basics requirements for the ideal currency. But I have a question. There are public and private keys out there. You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?

Should bitcoin use SHA512? Or something even stronger?
One of the good things that bitcoin has is that it is not a static currency that has stayed the same since satoshi created it, on the contrary it has been updated regularly and in the case the cryptography behind bitcoin is at risk of becoming vulnerable the developers will update the code when it is necessary so I will not worry about such thing, however even if bitcoin becomes one of the best currencies around the world I do not see it becoming an ideal currency because that depends entirely on your perspective of what ideal really means, for example a decentralized currency is great for people like us that think governments should not have as much power, but do you think governments agree with that?


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: witcher_sense on April 27, 2020, 04:36:40 PM
Bitcoin can use any algorithm but it will never be considered the currency of the future. Please believe me, bitcoin is very volatile and we humans will never want to keep bitcoin to spend. because we can be rich or poor in just a few hours!
I know that you are holding bitcoin a lot and want it to have great value to become rich. But be alert and analyze thoroughly. It is very difficult to become rich in a short time when Bitcoin once had a strong growth.
Your biggest mistake here is that you are still measuring one currency through the prism of another. If the price of bitcoin is still counted in dollars then bitcoin is yet to be currency of the future. If it is not a currency of the future, then it doesnt't matter whether it is volatile or not. Such a comparison becomes irrelevant from the very beginning. If bitcoin is widely spread and adopted then its volatility tends to zero, then there will be a chance for bitcoin to become the currency of the future because of that. From that logic, in order for bitcoin to become new reserve currency, it firstly needs to be adopted by many people and then we need to stop measuring the price through old tools and obsolete currencies.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: fiulpro on April 27, 2020, 07:34:54 PM
Unfortunately I do not think there is any ideal currency , it depends upon the user , actually there are many things one needs to consider .
If the other party is willing to accept it , if they have to exchange it and go through procedures , if they are able to work with technology are just very few examples.
One cannot always use the same currency everywhere , volatility and other factors will always be there and especially in pandemic when people are facing tremendous losses , even the stable currencies are dwindling.
I do think it would be a very important currency in the future , but the ideal currency no.
I do not think there will be any ideal currency , all are important someway or the other .


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Em00n01 on April 27, 2020, 08:00:28 PM
I am not fully agree with you. This is not the definition of ideal currency also sometimes Bitcoin is manipulated by whales. But what i can say is Bitcoin is a good alternative currency for future.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: danggoron on April 27, 2020, 11:14:18 PM
-- We are also aware that not every country and not every individual in that country can afford to have Bitcoin, more or less use it and put it into action. Poor families and third world countries are actually relying more on easy, fast, and convenient money to have. Even though Bitcoin promises a huge amount of money, people would still go with fiat to buy rice on a simple store.
True, the issue of adoption and effectiveness for use at all levels of society is still not optimal. Moreover, bitcoin is very volatile, it is enough to make it not ideal as a currency. I agree if bitcoin is used as an alternative currency to support fiat shortages, however, we must take advantage of this technological progress, but that does not mean it must impose an environment that is still not ready to fully accept changes.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Kelvinid on April 27, 2020, 11:20:48 PM
I'll just say that "NOT SURE" about its future.
We can't deny how people give their approach and market appreciation in crypto. The adoption isn't really stronger as we think before, even during the pandemic we can't still find that the support resistance and adoption rate still low. People are giving interest for sure but wondering they change their mind because not all establishments are accepting this, they are still be looking fiat instead.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: btc_love on April 28, 2020, 10:45:21 AM
I think not. Bitcoin is an idea. But we need something new. Something more universal.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: FanatMonet on April 28, 2020, 01:33:49 PM
I don't think that it would be possible in future, even though cryptocurrency has been used by so many people around the world, even though it is really helpful for everyone who is using it, it cannot still be a standard currency in the future because as what we all know it is decentralized, which means it cannot be handled by the government and its volatility makes it not suitable to be used for daily lives.

I think cryptocurrency is only good as an alternative currency for fiat currency, it is meant to be converted to fiat currency whenever we want to.
Most likely, everything will be so, the main property of any currency is stability, when both the buyer and the seller know the approximate cost without additional sources. And with cryptocurrencies there can be very strong fluctuations, and without tracking the course for a couple of days, you can lose a lot.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: TheGreatPython on April 28, 2020, 03:23:01 PM
Everybody canít make use of Bitcoin. For a start, a lot of these billionaires and millionaires will buy up the cryptocurrency and the majority who are poor wouldnít have anything left. That aside. If it happens that we all start making use of cryptocurrency, there are some ways that itís not going to be good. With cryptocurrency people will be able to do whatever they want and they will hardly be a means to trace them.

It is a decentralized currency and no one can control it, which means the government will also not be able to control it. I know that a lot of us here donít like the fact that fiat is being controlled by the government. The control is important, except that they tend to misuse it.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: DevilSlayer on April 28, 2020, 03:34:28 PM
I'll just say that "NOT SURE" about its future.
We can't deny how people give their approach and market appreciation in crypto. The adoption isn't really stronger as we think before, even during the pandemic we can't still find that the support resistance and adoption rate still low. People are giving interest for sure but wondering they change their mind because not all establishments are accepting this, they are still be looking fiat instead.
People want to have or to buy bitcoins but majority of them have different purpose which is simply investing, there are only few people who view bitcoin as a new payment system that can replace our current system. There is now a adoption but it is too slow, the people nowadays are still focusing to buy things through cash. One of the problems why we do not have successful adoption is because of the lack of education where many people are still not aware to what it is and how to use it.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: MicroGuy on April 28, 2020, 10:44:36 PM
This is an obvious NO. Just as horse and carriages are not ideal modes of transportation.

An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: crustycrab666 on April 28, 2020, 11:13:31 PM
Everybody canít make use of Bitcoin. For a start, a lot of these billionaires and millionaires will buy up the cryptocurrency and the majority who are poor wouldnít have anything left. That aside. If it happens that we all start making use of cryptocurrency, there are some ways that itís not going to be good. With cryptocurrency people will be able to do whatever they want and they will hardly be a means to trace them.

It is a decentralized currency and no one can control it, which means the government will also not be able to control it. I know that a lot of us here donít like the fact that fiat is being controlled by the government. The control is important, except that they tend to misuse it.
Exactly. Although bitcoin and other cryptocurrency have more advantages related to transparency, speed, transaction security, etc. but this niche cannot touch the entire community. Only limited to certain communities. In addition, high volatility makes cryptocurrency less effective as a means of payment. Facilities and infrastructure to be connected with technology and the internet must be adequate. Maybe, if one day the development is evenly distributed, the government has the best solution to develop with cryptocurrency, this might be a good alternative.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: MicroGuy on April 28, 2020, 11:23:10 PM
Maybe, if one day the development is evenly distributed, the government has the best solution to develop with cryptocurrency, this might be a good alternative.

But the government DID create Bitcoin. You know that right? Oh yeah, I forgot they don't cover that on CNN.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: pixie85 on April 28, 2020, 11:37:47 PM
This is an obvious NO. Just as horse and carriages are not ideal modes of transportation.

An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.

Bitcoin is transparent but it's also private.

When I pay for something with Bitcoin the other side doesn't know my name so it is private in that matter.

To fully use the privacy it offers you have to buy it from someone else in person, mine it or earn it. You cannot use a centralized exchange.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: MicroGuy on April 28, 2020, 11:51:35 PM
This is an obvious NO. Just as horse and carriages are not ideal modes of transportation.

An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.

Bitcoin is transparent but it's also private.

Bitcoin is not private. The NSA created it with the intent purpose of tracking payments globally.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Quidat on April 28, 2020, 11:53:24 PM
This is an obvious NO. Just as horse and carriages are not ideal modes of transportation.

An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.

Bitcoin is transparent but it's also private.

When I pay for something with Bitcoin the other side doesn't know my name so it is private in that matter.

To fully use the privacy it offers you have to buy it from someone else in person, mine it or earn it. You cannot use a centralized exchange.
ēAnonymous
ēDecentralized

These are the main features on why bitcoin is being supported by big community due to that p2p system that there no 3rd party involved
which totally contrary on what we have used traditionally with fiat but i dont see for it to replace fiat soon just like what been said by
some people.Being optimistic isnt bad but they should be at least realistic.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: MicroGuy on April 28, 2020, 11:55:53 PM
This is an obvious NO. Just as horse and carriages are not ideal modes of transportation.

An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.

Bitcoin is transparent but it's also private.

When I pay for something with Bitcoin the other side doesn't know my name so it is private in that matter.

To fully use the privacy it offers you have to buy it from someone else in person, mine it or earn it. You cannot use a centralized exchange.
ēAnonymous
ēDecentralized

These are the main features on why bitcoin is being supported by big community due to that p2p system that there no 3rd party involved
which totally contrary on what we have used traditionally with fiat but i dont see for it to replace fiat soon just like what been said by
some people.Being optimistic isnt bad but they should be at least realistic.

This post contains so many errors, I don't know where to start.

Bitcoin is not private under any circumstances. If I buy BTC from someone in person, the seller can track my payments.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: famososMuertos on April 29, 2020, 12:49:59 AM
No.
There is a tendency to believe that bitcoin is the solution to "x" situation, it is actually just an asset that contains a powerful message.

Its value, its technology, etc., including its influence on other cryptocurrencies and on Fiat themselves, are essentially only part of the message, but it seems to be the brilliance that some want to see, and with good reason.

The great value that Bitcoin has and has had since its inception has been trust, if two users had not had the trust, Bitcoin would not have been what it is and will continue to be as an asset.

Bitcoin has to be interpreted as the social message that if confidence-based consensus can be achieved, we can demand global economic and social change.

The cryptocurrencies of the future must be a fair currency that establishes a social balance from the beginning and that offers equal opportunities to all. Sharing the profits of each country among its citizens is possible and they decide how to invest how these resources are spent and are supervised.

In short, it is a cryptocurrency that does not currently exist based on a social and economic system that does not exist either, but that bitcoin has the clear message that it is possible.



Title: Re: Will bitcoin be the ideal currency of the future?
Post by: pixie85 on April 29, 2020, 09:54:18 PM
This is an obvious NO. Just as horse and carriages are not ideal modes of transportation.

An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.

Bitcoin is transparent but it's also private.

Bitcoin is not private. The NSA created it with the intent purpose of tracking payments globally.

So you're one of those conspiracy theorists  ::)

Does it really matter if the NSA, an institution with no global jurisdiction, finds out that someone from Austria sent some money to someone in Russia? What are they going to do with that information, not knowing what the payment was for?


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: MicroGuy on April 29, 2020, 11:23:06 PM
This is an obvious NO. Just as horse and carriages are not ideal modes of transportation.

An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.

Bitcoin is transparent but it's also private.

Bitcoin is not private. The NSA created it with the intent purpose of tracking payments globally.

So you're one of those conspiracy theorists  ::)

Does it really matter if the NSA, an institution with no global jurisdiction, finds out that someone from Austria sent some money to someone in Russia? What are they going to do with that information, not knowing what the payment was for?

Do you not think that governments cooperate? I think you might want to rethink your ideas if that's your definition of privacy and freedom.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: rodskee on April 30, 2020, 11:21:49 AM
Bitcoin is the Future Of Cryptocurrency because economic analysts predict a big change in crypto is forthcoming as institutional money enters the market. We know that Bitcoin is a digital currency created in January 2009 day by day bitcoin price is rise. it is possible to pay for goods and services with Bitcoin both online and offline, but it is only accepted by a minority of merchants so i think its the best for future.
Actually the thread talks about the world currency and not just for crypto meaning the battle from Fiat to Crypto is on in this thread mate if you will
Only read the topic and the OP,but i think your point is valid in this one.
And it is not only the analysts can tell the true
Because we as users for years now knows how this cryptos are promising and
Also the right way to attract our family and friends to enter and invest in this market.
What I believe more is that sooner for the next years we will see the effect specially after this Covid-19
Case because more people now are trying to learn about this crypto currencies .


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Yamifoud on April 30, 2020, 11:26:18 AM
If we are talking about being considered IDEALy, it could be possible but we are still far from that point. Look at today, we think that the current situation will bring people to adopt the system but unfortunately, they are usually ignoring instead they are selling their Bitcoin for FIAT. And that could possibly be happening again in the future. May we saw people love doing cashless payment but it was obvious that they are not using crypto/bitcoin, they are still using fiat money.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: tbterryboy on April 30, 2020, 03:32:09 PM
Bitcoin is a good choice, but you already know the government, when they can't regulate it they will start looking for ways to take it down. I am happy that some countries have been supporting and allowing their citizens to make use of Bitcoin without any restrictions. And as for those that have banned it, I hope that they come to understand that Bitcoin is meant for a good purpose and also allow people to be making use of it.

Since, last year there has been news about countries that are planning to create their own cryptocurrency. I don't know what's going to happen once these countries create their own cryptocurrency, whether they are going to allow the use of it Bitcoin or not.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Farma on May 01, 2020, 01:10:39 PM
Bitcoin is a good choice, but you already know the government, when they can't regulate it they will start looking for ways to take it down. I am happy that some countries have been supporting and allowing their citizens to make use of Bitcoin without any restrictions. And as for those that have banned it, I hope that they come to understand that Bitcoin is meant for a good purpose and also allow people to be making use of it.

Since, last year there has been news about countries that are planning to create their own cryptocurrency. I don't know what's going to happen once these countries create their own cryptocurrency, whether they are going to allow the use of it Bitcoin or not.
yes, bitcoin is indeed very good, but that does not mean ideal. there are still quite a lot of rejections received by bitcoin from the government. the most basic thing, which makes it rejected is, the price is uncertain. This makes bitcoin more preferred as an investment tool by most people, and also as a trading tool. Yeah, but I look forward to Bitcoin being used as the ideal currency.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: MicroGuy on May 01, 2020, 01:41:42 PM
Bitcoin being used as the ideal currency.

Unless we can get another hard fork in that will never happen, since the ideal currency must include privacy.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Distinctin on May 01, 2020, 02:30:24 PM
Yes Bitcoin is the best future for all of crypto holder. I can say that we will take this time and get for another reason. I have some Bitcoin dollar hold for next some years days by some currency is ideal currency in the future.
Maybe you overly think about it. Maybe it was sorry that Bitcoin can't be ever an ideal currency in the future if the same thing has happening today will be the same in the coming days. Quiet there is no big change around crypto, it is only the price varies all the time for some reason but it never gives change to the eye of the people and as well as their perspective.

Bitcoin could be just considered as the best asset that any person can hold but looking it to be fully considered as a currency and use it...I shouldn't think it by now.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Asusnumbaone on May 01, 2020, 03:13:45 PM
When I say ideal I mean:

  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.

These are some basics requirements for the ideal currency. But I have a question. There are public and private keys out there. You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?

Should bitcoin use SHA512? Or something even stronger?
Bitcoin is the currency in the online world when the time comes i think bitcoin will be the main currency the will be used. For now many of the investors prefer to invest in bitcoin they forsee the future of the bitcoin as main source of income


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: South Park on May 01, 2020, 05:01:17 PM
I am not fully agree with you. This is not the definition of ideal currency also sometimes Bitcoin is manipulated by whales. But what i can say is Bitcoin is a good alternative currency for future.
Without a doubt that is what the biggest problems with bitcoin, there are whales that have such a huge number of coins that they can do whatever they want with the market and that is never a good thing, and if the price of bitcoin keeps increasing then they are going to have even less of a reason to sell their coins and if anything if they keep manipulating the market they will become even bigger as time passes, so I do not really see how to resolve this issue with bitcoin which could slow down adoption in the future.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: qory on May 01, 2020, 06:05:00 PM
Bitcoin become ideal payment currency at the future because could stable and never have inflation value, depend with using money where less value several years later bitcoin can guarantee for people use it for currency payment will get much benefit with bitcoin can growing up to higher price.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: QueenVera on May 01, 2020, 06:34:04 PM
It has every possible chances of been the currency of the future as it's a decentralized mode of payment and with time everyone will get to understand the benefits associated with transacting in a decentralized manner. Don't jump into conclusion that bitcoin has flaws, well no system is perfect that's why innovation are been done as when there are ongoing development to make that flaw system perfect it simply means the system is ready to adapt to the changes the economy offer and that's what bitcoin is doing.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Mulann2 on May 01, 2020, 07:55:26 PM
Is btc the ideal currency as of now! I think you will find some clue by start asking yourself that question,  besides, nobody is a time traveller that can tell what the future look like and what currency can work perfectly by then, who knows maybe in future more technical advancements will be available which can make btc not an ideal currency for the future.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: farukahmed on May 02, 2020, 04:20:17 PM
Bitcoin is our standard coin. We can say that this bitcoin will be used as a standard coin all over the world. This bitcoin is the easiest way to make all purchases, transactions and banking transactions with this bitcoin all over the world. So I want to say that bitcoin is applicable for Bangladesh. If not, it's a big deal for other countries but we want to say that this bitcoin should be introduced in all countries of the world. Some wallets are used in this bitcoin transaction like wallet. We can transact very easily with these so it is an ideal currency for us.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: tanjiran on May 02, 2020, 06:28:32 PM
When I say ideal I mean:
---
  • You can send/receive the currency really quickly.

I do not agree with this, because transactions using e-money or PayPal are faster, I feel, the adoption is even wider. If we want to compare this delivery system, we can see the ideal side of a transparent system and an uncomplicated administration. Usually, if we send a lot of money, there are administrative requirements that must be met if using a conventional system, privacy is not guarded, especially if the bank knows you have a lot of funds, usually there are offers that you don't want, IYKWIM.



Title: Re: Will bitcoin be the ideal currency of the future?
Post by: pixie85 on May 02, 2020, 10:00:30 PM
This is an obvious NO. Just as horse and carriages are not ideal modes of transportation.

An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.

Bitcoin is transparent but it's also private.

Bitcoin is not private. The NSA created it with the intent purpose of tracking payments globally.

So you're one of those conspiracy theorists  ::)

Does it really matter if the NSA, an institution with no global jurisdiction, finds out that someone from Austria sent some money to someone in Russia? What are they going to do with that information, not knowing what the payment was for?

Do you not think that governments cooperate? I think you might want to rethink your ideas if that's your definition of privacy and freedom.

What does the fact that governments cooperate have to do with NSA and their alleged creation of Bitcoin?

My point is that saying that Bitcoin was created by the NSA not only gives too much credit to the NSA but also puts USA on the podium as the country of origin. Even this was never proven!

Also, the agency has no jurisdiction outside the US and as it happens, most of the world is outside of the US and most people do not care what the NSA does.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: MicroGuy on May 03, 2020, 12:44:54 AM
What does the fact that governments cooperate have to do with NSA and their alleged creation of Bitcoin?

My point is that saying that Bitcoin was created by the NSA not only gives too much credit to the NSA but also puts USA on the podium as the country of origin. Even this was never proven!

Also, the agency has no jurisdiction outside the US and as it happens, most of the world is outside of the US and most people do not care what the NSA does.

My point is that the ideal currency must include privacy. This prevents any agency or individual from tracking payments on the ledger.

The banking system has now hijacked this project and crippled its core features. I do think it will make an excellent tracking system and settlement layer for its new controllers.

But it's certainly not, and never can be the ideal currency.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: metenjean on May 03, 2020, 03:49:25 AM
Will be bitcoin ideal currency at the future because look potential to higher price and many interested from investor until company want to accept bitcoin as legal currency payment transaction, but when bitcoin down many people panic and sell bitcoin with lower price.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: amishmanish on May 03, 2020, 05:15:59 AM
My point is that the ideal currency must include privacy. This prevents any agency or individual from tracking payments on the ledger.
You have no point because Bitcoin already has privacy. You just need to know how to use it. If an agency is otherwise hell-bent on tracking your payments, they already will.
The banking system has now hijacked this project and crippled its core features. I do think it will make an excellent tracking system and settlement layer for its new controllers.
Nobody has hijacked anything. It works the way it always has and was meant to. Your re-hashing troll arguments after spending years in Alt-exile is just a sign of your regrets and possible resentment against bitcoin. Sorry for your loss and sorry that bitcoin doesn't care.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: XenoFever on May 03, 2020, 06:07:10 AM
Well said, there is always an ideal currency for every perception in the life of different people, some can be possible and some are not. Cryptocurrency as an ideal currency can really be possible in the near future, as technology evolves, things get more complicated and bitcoin will be more known by many countries and to the benefits that bitcoin has been giving to us could be a factor to be considered as an ideal currency.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: AniviaBtc on May 03, 2020, 07:27:34 AM
You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?
Bitcoin has been created more than 10 years ago, have you found anyone had brute forced private keys? I am not sure if it's possible even with quantum computer system. But I believe if it happened then there will be something to prevent it. I don't believe it would be spoiled by humans since. Don't feel that bitcoin or crypto industry will be spoiled very easily since there is big community for it.

Regarding your concern about ideal currency is quite complicated since there is no bitcoin existence on real life and worldwide governments don't want to support it due to many reasons. Most probably we would see more advance and ideal currency in future which would exist even on real life, but who know about future.

I think that this bitcoin can be an ideal currency in the future, but the question is when? These days, fiat currency is really effective and the most useful currency that the community is using. Fiat currency is not that easy to steal compared to a bitcoin that can be hacked, and lose due to wrong addresses. Also mass adoption is not that easy to acquire especially that's why most of the government in this world is still not legalizing the bitcoin to regulate in their market. Bitcoin can help an economy grow once it is in its peak but we all know that it is very volatile compared to other coins. So in conclusion, I will still choose fiat over bitcoin as a mode of payment in many transactions because digital currency is only useful during this kind of pandemic that doesn't require people to have physical transactions.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Anonylz on May 03, 2020, 08:57:53 AM
Quote
It is decentralized, no one controls it

I think out of the option you mentioned for an ideal currency, the above is the more reason why i think btc can not be an ideal currency, can you imagine a world where the purchasing power is not centralized and regulated? that means anyone can do as they please with their money or currency, abuse it if you want, oppress the weak as you see fit, and the list goes on, a large portion of btc already in the hands of a few influential people that have the power to manipulate and control the market, what will happen if it is now made the ideal currency! will it be evenly distributed!
although nobody can tell what the future will be like but i don't think btc will be ideal currency.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: CarnagexD on May 03, 2020, 09:19:43 AM
Quote
It is decentralized, no one controls it

I think out of the option you mentioned for an ideal currency, the above is the more reason why i think btc can not be an ideal currency, can you imagine a world where the purchasing power is not centralized and regulated? that means anyone can do as they please with their money or currency, abuse it if you want, oppress the weak as you see fit, and the list goes on, a large portion of btc already in the hands of a few influential people that have the power to manipulate and control the market, what will happen if it is now made the ideal currency! will it be evenly distributed!
although nobody can tell what the future will be like but i don't think btc will be ideal currency.

Today there are a lot of people rapidly number increasing the adopting the use of the bitcoin and other cryptocurrency even most of us have the use of the PayPal transactions, cash, paymaya and another kind of kinds of stuff for making an online payment but still we are using the bitcoin as the priority payment because we all know that it has faster and secured transactions unlike others also we want to get the advantage of using the no taxes payment and also fewer transactions feel which is good if we are trying to send of funds to other people or to transfer our incomes. By this even the bitcoin is decentralized we cannot avoid the government to make above about this kind of transactions because they see the potential of going some against the rules of market like sending a huge amount into a different wallet and they cannot detect this kind of action immediately and many people now will use this kind of transactions because they want to avoid getting huge taxes. Still, the government will do something to limiting their funds also in PH they have the wallet of coins.ph which is in level 3 account with the limit only of $8000 only for recording some funds. We are looking forward to the future of the bitcoin because there are a lot of number of new users would like to join us into the world of bitcoin.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Salamstar on May 03, 2020, 09:42:25 AM
There is no perfect financial system in the world and for this you may find some defects in the Bitcoin digital payment system as there are many defects in traditional payment systems and we all suffer from these defects at the present time.
Maybe bitcoin isn't perfect enough but I think it's better than the current financial system and bitcoin payment features far more than its flaws. Cryptocurrency and Bitcoin came as an excellent method of payment as it provides high speed, cost and very little transaction fees.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Lorence.xD on May 03, 2020, 10:59:17 AM
  • It is decentralized, no one controls it.
How can currency be ideal if it is decentralized, bitcoin will never get the ideal currency because it is not a controlled by the government and it is its selling point. Imagine a scenario where it is not centralized then countries could just simply take an action by banning the usage of it in their domain, so no, decentralization is not good if bitcoin become an ideal currency.

  • You can send/receive the currency really quickly.
That thing is I disagree with that, if you want a fast transaction wouldn't it be the same as physical transacction, I think what is needed that an ideal currency is somethig that can't be duplicated for illegal use, tampered with, can leave audit trails if in case stolen and secure.

Should bitcoin use SHA512? Or something even stronger?
I think that there is no problem with that, what we need are more secure wallets or focusing more on the innovation of technology towards security.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Mulann2 on May 03, 2020, 11:35:01 AM
CarnagexD don't think life will be all that smooth when you have a decentralize currency, and if you are so worried about the tax you are paying, remember tax payers money also assist government to provide some social services to its people, if everyone want decentralization and don't want to pay tax and want total freedom, it means you are going back to the ancient era, and then don't expect to get justice from being oppress or the army to protect you from internal and external enemies, police to safeguard you and your property.....
Decentralization comes with a price, not just the currency will be decentralized, every other aspect will be too then lets see how you will enjoy your decentralize money.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: FlightyPouch on May 03, 2020, 11:37:20 AM
Well, I didn't thought of these. But about stable value, we determine it. We just have used to compare bitcoin with dollar. Imagine if there wasn't any euros or dollars. Just bitcoins. I think it would mean stable.

I think an ideal currency will never be a decentralized one. As we all wish that bitcoin is the currency of the world, we will never be able to achieve that since as long as it is decentralized, it will never be one. The value and the control, I think that is the reason why being decentralized is not a feature of an ideal currency, this is just my opinion though.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: MicroGuy on May 03, 2020, 12:29:40 PM
Well, I didn't thought of these. But about stable value, we determine it. We just have used to compare bitcoin with dollar. Imagine if there wasn't any euros or dollars. Just bitcoins. I think it would mean stable.

I think an ideal currency will never be a decentralized one. As we all wish that bitcoin is the currency of the world, we will never be able to achieve that since as long as it is decentralized, it will never be one. The value and the control, I think that is the reason why being decentralized is not a feature of an ideal currency, this is just my opinion though.

The Federal Reserve is a prime example of a centralized system.

If you want to be controlled by a regulating issuing authority, you probably should stick with fiat.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: FanatMonet on May 03, 2020, 12:51:00 PM
In my opinion, no, bitcoin still has vulnerabilities. There is a rather strong volatility that can be created by throwing some fake news. Yes, and the possibility of attack 51, this is also a pretty big problem, especially considering the decrease in miners over time.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: LogitechMouse on May 03, 2020, 01:15:41 PM
Maybe some sees Bitcoin as the ideal currency for the future and some doesn't. I'd go with the a NO.

One reason that I see this will not become an ideal currency base on your parameters is the fact that Bitcoin is decentralized. We know already that all or most of the governments around the world aren't regulating Bitcoin although they are accepting the usage of it in their country and for me that is a good move already for the government and for us who are using crypto. I only see as an alternative currency and an asset for the future, not an ideal or the main currency to be used worldwide.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: MicroGuy on May 03, 2020, 01:27:00 PM
Maybe some sees Bitcoin as the ideal currency for the future and some doesn't. I'd go with the a NO.

One reason that I see this will not become an ideal currency base on your parameters is the fact that Bitcoin is decentralized. We know already that all or most of the governments around the world aren't regulating Bitcoin although they are accepting the usage of it in their country and for me that is a good move already for the government and for us who are using crypto. I only see as an alternative currency and an asset for the future, not an ideal or the main currency to be used worldwide.

This is not true. All countries are regulating Bitcoin by regulating the Fiat on and off ramps. Some jurisdictions are even beginning to regulate merchants who accept payment in Bitcoin.

Nonetheless, the currencies of the future will be non-pow cryptocurrencies that offer privacy.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: XCANA on May 03, 2020, 01:37:56 PM
The government haven't been able to censored bitcoin and for this purpose they're not going to make it an idea future currency. The government will always be the controller on currency which will be use the future as the dollars are from USA so will any coins they prefer to use. Although, bitcoin with be more widely used by people but with the government constraints for the use of their available coins will have some effect on Bitcoin. Believe me, the government will create their own currency when it come to reserve currency or future currency.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: MicroGuy on May 03, 2020, 01:40:18 PM
The government haven't been able to censored bitcoin and for this purpose they're not going to make it an idea future currency. The government will always be the controller on currency which will be use the future as the dollars are from USA so will any coins they prefer to use. Although, bitcoin with be more widely used by people but with the government constraints for the use of their available coins will have some effect on Bitcoin. Believe me, the government will create their own currency when it come to reserve currency or future currency.

The entire purpose of Satoshi Nakamoto's work was to prevent this reality. With thousands of cryptos working on the tech, hope is still not lost.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: pixie85 on May 03, 2020, 09:29:07 PM
What does the fact that governments cooperate have to do with NSA and their alleged creation of Bitcoin?

My point is that saying that Bitcoin was created by the NSA not only gives too much credit to the NSA but also puts USA on the podium as the country of origin. Even this was never proven!

Also, the agency has no jurisdiction outside the US and as it happens, most of the world is outside of the US and most people do not care what the NSA does.

My point is that the ideal currency must include privacy. This prevents any agency or individual from tracking payments on the ledger.

The banking system has now hijacked this project and crippled its core features. I do think it will make an excellent tracking system and settlement layer for its new controllers.

But it's certainly not, and never can be the ideal currency.


We either lean more towards privacy or transparency. No side is better than the other! The coins that are completely private also don't allow others to see that you're paying and that you are in a good financial condition. As an employer you might actually seek a coin with such features.

Bank accounts are private to the point that you don't know your bank is insolvent until you actually cannot withdraw money anymore.

Botcoin is transparent but can also be private as long as every company out there does not begin to enforce AML rules and ask you to send them a selfie with the current date.

And we arrive at the next question. Should Bitcoin be blamed for lack of some anti-KYC features? 



Title: Re: Will bitcoin be the ideal currency of the future?
Post by: MicroGuy on May 03, 2020, 09:48:01 PM
We either lean more towards privacy or transparency. No side is better than the other! The coins that are completely private also don't allow others to see what you're paying and that you are in a good financial condition. As an employer you might actually seek a coin with such features.

Bank accounts are private to the point that you don't know your bank is insolvent until you actually cannot withdraw money anymore.

Botcoin is transparent but can also be private as long as every company out there does not begin to enforce AML rules and ask you to send them a selfie with the current date.

And we arrive at the next question. Should Bitcoin be blamed for lack of some anti-KYC features?  



Excuse me. But I'm not looking for a cash payment system that reports my financial condition.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: TheCoinRepublic1 on May 07, 2020, 08:38:20 AM
In my opinion Bitcoin is the safest cryptocurrency of all to invest in. Additionally, Bitcoin has performed incredibly well whenever their were financial crises going on. A plus point of this currency was it was never set to a specific price rate or value. Moreover, it was set to an average price of what the investors would be more likely to pay.

Further don't miss on the much awaited Bitcoin Halving 2020, which will bring a lot of promises to the investors. The grand event is near the corner and so does the trust of its investors. Also, the Bitcoin exchanges also let you buy any amount, you are looking to have a profitable investment in.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: MicroGuy on May 07, 2020, 01:34:15 PM
I don't want to say that what I see now is an ideal currency, because it has both advantages and disadvantages. But I do not deny the fact that bitcoin is the basis for creating an ideal currency system.

Yes, it's a great basis. Now open up the blocks, add privacy, and replace PoW and you're talking next generation of money.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Skieleton on May 07, 2020, 04:12:33 PM
When I say ideal I mean:

  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.

These are some basics requirements for the ideal currency. But I have a question. There are public and private keys out there. You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?

Should bitcoin use SHA512? Or something even stronger?

The Fed, ECB, People's Bank of China and even the NBP - almost all central banks are printing money for power today. The reason is obvious - they count on them to overcome the economic crisis. This, of course, does not make much sense, but the bankers' habits do their job. When Smith, Kowalski and Lee notice with horror that they are paying for a loaf of bread 3 times more than, for example, a year ago, they will resort to alternative currencies. This has already happened e.g. in Venezuela and may also start in Poland (we do not scare, but we warn you!).

Bitcoin can benefit because it is the perfect answer to the weakening national currencies. Therefore, cryptocurrencies now have a good chance of occurring at night in the world!


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Maestro75 on May 07, 2020, 06:19:05 PM
Bitcoin can not be an ideal currency for the globe. Going by all that you listed, bitcoin even falls short as it is. Already it has delay transactions which some altcoins easily can solve. Alts like BTC2 and Litecoin have a speed of light transaction rates. Some people have argued that what is keeping bitcoin on top of the list till now is because it is the pioneer crypto. They believe that one day bitcoin may lose that position.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: pixie85 on May 07, 2020, 11:57:28 PM

Excuse me. But I'm not looking for a cash payment system that reports my financial condition.

It doesn't report it but it allows people you transact with to see it.
You might find it irrelevant but there are people who transact with businesses they don't fully trust. Those people may need this exact feature.

You can never make the payment system liked by everyone nor should you have to. Bitcoin is still pretty close to an ideal system that is not enforced on you and gives you more security and privacy than you're used to having.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: MicroGuy on May 08, 2020, 01:22:16 AM

Excuse me. But I'm not looking for a cash payment system that reports my financial condition.

It doesn't report it but it allows people you transact with to see it.

It allows anyone to see it. The ledger is public and deep learning algos have been developed to connect the dots.

Try this: go buy some BTC on coinbase and spend it anywhere. Do you not think coinbase can now follow that spending trail to its conclusion?


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: finaleshot2016 on May 08, 2020, 01:02:05 PM
Bitcoin can not be an ideal currency for the globe. Going by all that you listed, bitcoin even falls short as it is. Already it has delay transactions which some altcoins easily can solve. Alts like BTC2 and Litecoin have a speed of light transaction rates. Some people have argued that what is keeping bitcoin on top of the list till now is because it is the pioneer crypto. They believe that one day bitcoin may lose that position.
It makes sense because certain economies in various countries can't afford to lose capital, so it's going to be hard for them if the BTC wasn't stable like the current crypto market situation, which is quite volatile. It would also be challenging for consumers if the price of BTC is not constant and it also needs market awareness for each customer in order to adjust the use of BTC.

And it made me think that it's really difficult for bitcoin to be the perfect currency.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Yatsan on May 08, 2020, 01:49:40 PM
When I say ideal I mean:

  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.


And how do you conclude that the above mentioned parameters will denote an ideal currency?

What about speed? What about stable value? What about fair distribution?

An ideal currency doesn't exist in real world and bitcoin is not even close to an ideal currency!

Well, I didn't thought of these. But about stable value, we determine it. We just have used to compare bitcoin with dollar. Imagine if there wasn't any euros or dollars. Just bitcoins. I think it would mean stable.
But obviously, these fiat exist, or they literally co-exist. Also, we cannot simply compare Bitcoin with dollar or other fiat because these coins have different 'platforms'. Also there are differences with regards to their market value and value stability. Their similarity is only being a currency. And that I think is not enough to draw a conclusion from such comparison to which coin is ideal given that both of these currencies are being used by people at this time. Nothing is ideal, this is the bottomline. Currencies are serving their purpose and development would determine which would benefit us humans, more. Stability alone is not enough to make a currency 'ideal'.

I don't want to say that what I see now is an ideal currency, because it has both advantages and disadvantages. But I do not deny the fact that bitcoin is the basis for creating an ideal currency system.

Yes, it's a great basis. Now open up the blocks, add privacy, and replace PoW and you're talking next generation of money.
Given that change is inevitable, there is a possibility that there would be something that would be more advantageous, which invalidates the claim that bitcoin is the basis of an ideal currency. If you would be futuristic, you should have a good foundation. Bitcoin is facing issues regarding mass adaptation, and that is already a flaw of it, being a currency.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Gheka on May 08, 2020, 01:52:37 PM
Bitcoin can not be an ideal currency for the globe. Going by all that you listed, bitcoin even falls short as it is. Already it has delay transactions which some altcoins easily can solve. Alts like BTC2 and Litecoin have a speed of light transaction rates. Some people have argued that what is keeping bitcoin on top of the list till now is because it is the pioneer crypto. They believe that one day bitcoin may lose that position.
It makes sense because certain economies in various countries can't afford to lose capital, so it's going to be hard for them if the BTC wasn't stable like the current crypto market situation, which is quite volatile. It would also be challenging for consumers if the price of BTC is not constant and it also needs market awareness for each customer in order to adjust the use of BTC.

And it made me think that it's really difficult for bitcoin to be the perfect currency.
Agree, from the perspective of bitcoin users, bitcoin is not really a perfect product to become a currency when its value is not within a manageable range, almost the price of bitcoin can rise or fall sharply for a variety of reasons, and for the moment, the world has not had such a volatile currency, Bitcoin will also not be an exception with the arrival of the government. However, the fact that we should not deny that bitcoin can be a basis for upgrading other currencies around the world, many great advantages that other currencies can copy and become more complete


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Natsuu on May 08, 2020, 03:08:53 PM
Will be bitcoin ideal currency at the future because look potential to higher price and many interested from investor until company want to accept bitcoin as legal currency payment transaction, but when bitcoin down many people panic and sell bitcoin with lower price.

We all know how bitcoin continue to have its progress as the year passed by. Bitcoin became on of the main idea of the word cyrptocurrency. This online currency serves as our online platform or money in all different things. We must consider how bitcoin helps use in our different life and differents struggles from the past. Bitcoin may be the reason why we became rich or even became poor. It affects all of our lives as we used to live with it. So I can say bitcoin will definitely going to be the ideal digital currency. Actually, it is now and not just ideal but the best ideal digital currency.

Today, bitcoin does a lot of improvement and I can say that even if its value isn't that stable and goes up and down, it still one of the best digital currency. Which makes it the ideal digital currency. Bitcoin will suppresed everything in the near future and it will also stays on the positive side. Bitcoin will improve and will always be top in terms of digital currency. It is not that easy to earn bitcoin but for thise who has passion and hardworking anything is possible.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: MFahad on May 08, 2020, 04:10:47 PM
Will be bitcoin ideal currency at the future because look potential to higher price and many interested from investor until company want to accept bitcoin as legal currency payment transaction, but when bitcoin down many people panic and sell bitcoin with lower price.

We all know how bitcoin continue to have its progress as the year passed by. Bitcoin became on of the main idea of the word cyrptocurrency. This online currency serves as our online platform or money in all different things. We must consider how bitcoin helps use in our different life and differents struggles from the past. Bitcoin may be the reason why we became rich or even became poor. It affects all of our lives as we used to live with it. So I can say bitcoin will definitely going to be the ideal digital currency. Actually, it is now and not just ideal but the best ideal digital currency.

Today, bitcoin does a lot of improvement and I can say that even if its value isn't that stable and goes up and down, it still one of the best digital currency. Which makes it the ideal digital currency. Bitcoin will suppresed everything in the near future and it will also stays on the positive side. Bitcoin will improve and will always be top in terms of digital currency. It is not that easy to earn bitcoin but for thise who has passion and hardworking anything is possible.

The problem is that even after so many years it has not been able to attract the government institutions to adopt bitcoin. Bitcoin is only used by the individuals  mainly for storing or trading purpose. Once bitcoin is used mainly for buying selling goods, it will then be the ideal currency.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Pegiz on May 11, 2020, 09:18:15 AM
Itís hard to judge the future when little is understood in real time. I think there will never be an ideal currency, there are always nuances on which the currency will depend.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: jostorres on May 11, 2020, 06:10:37 PM
I do not know about this though, but I think the protocols for Bitcoin can be changed by the devs. I have seen some people say something like that, which means that there is the possibility to increase the number of Bitcoins from the current 21 million to a high number. And if that can be done, that means there is the possibility to keep increasing it as times goes on.

But anyway, this is not really the case. There are so many ways that the Bitcoin can be useful and you have mentioned some of them here. I have seen people say that Bitcoin is slow than when you're making use of banks or debit card. The thing is that, mobile bankings might be fast locally, but not internationally.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Casdinyard on May 11, 2020, 06:27:47 PM
I do not know about this though, but I think the protocols for Bitcoin can be changed by the devs. I have seen some people say something like that, which means that there is the possibility to increase the number of Bitcoins from the current 21 million to a high number. And if that can be done, that means there is the possibility to keep increasing it as times goes on.
Well I don't think if there is any person who can change the protocol of bitcoin would think to change it just to create more supply, because that would absolutely ruin the bitcoin. You know the reason why people are choosing bitcoin is due to its carried freedom in financial and the fact that it will gain a stabilized price in the future though we are all dead when that time comes.
But anyway, this is not really the case. There are so many ways that the Bitcoin can be useful and you have mentioned some of them here. I have seen people say that Bitcoin is slow than when you're making use of banks or debit card. The thing is that, mobile bankings might be fast locally, but not internationally.
I agree, bitcoin is slow in transaction unlike any other coins like ethereum, ripple, litecoin etc. but the fact that it moves where ever the sender and receiver is the most significant part of using bitcoin. Just like what you have said, things is different when using credit and debit cards it will take days to complete internationally, well it can take for just like 30 minutes or less with bitcoin.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: xiboothrezi on May 11, 2020, 07:08:34 PM
~
Today, bitcoin does a lot of improvement and I can say that even if its value isn't that stable and goes up and down, it still one of the best digital currency. Which makes it the ideal digital currency. Bitcoin will suppresed everything in the near future and it will also stays on the positive side. Bitcoin will improve and will always be top in terms of digital currency. It is not that easy to earn bitcoin but for thise who has passion and hardworking anything is possible.
But that doesn't make bitcoin an ideal currency for granted, especially since BTC prices are very volatile. Later, only people who have a lot of money can use BTC, while those who can't afford it can't do anything. It is not good.

Well, the digital currency criteria mentioned by OP, I think based on a personal point of view. If we examine again, related to speed and effectiveness, using e-money, PayPal, and the like is better. In this case, we must consider carefully its function so that it is effective. BTC is a very good cryptocurrency, many advantages and can be a solution to problems that cannot be reached by fiat, but that does not necessarily make it an ideal currency or national currency.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Zackgeno96 on May 11, 2020, 07:16:31 PM
When I say ideal I mean:

  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.

These are some basics requirements for the ideal currency. But I have a question. There are public and private keys out there. You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?

Should bitcoin use SHA512? Or something even stronger?
Bitcoin can be a store of value but it can't be the Crypto currency that is used in the future for daily transactions as it takes a lot of time for a bitcoins transaction to get completed with a decent amount of fees and if someone accidentally set low fees then it will take a lot of time for the transaction to settle and no one wants to transact with a slow currency, I believe with a few improvements like the lightening network bitcoins can become what you are saying.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Alex3231 on May 12, 2020, 10:25:21 PM
Yeah, bitcoin will be ideal currency of the future and I trust it. Day by day the popularity of its increase. In my opinion one day every development country will accepted bitcoin.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Lasky366 on May 13, 2020, 08:31:52 AM
Yes bitcoin is now popular but don't think this will be an ideal currency. Because Bitcoin transaction is not instant it usually  takes time to confirm but if you send your money through bank or your credit card it hardly takes few seconds to transfer n also lots of government didn't recognized bitcoin as a currency. So it's can't be possible for bitcoin to be a ideal currency in future or even now.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Flangler on May 13, 2020, 10:33:10 AM
Form philosophe perspective ideal doesn't exist there will be always some kind og flaws. Forecasts show there will be more people than it is now, and I saw few times that even visa could not manage transactions over the world with 50ktx/s, so unless btc won't overcome this I don't think it will work.  Right now we are at 7txs per second so yhm...


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: carlisle1 on May 13, 2020, 11:41:53 AM
There is nothing perfect, so you should not hope for it.
hoping is not considered to be asking for perfect,what is important is we trust Bitcoin and this will save us from panicking in times of bad market flowing.

Form philosophe perspective ideal doesn't exist there will be always some kind og flaws. Forecasts show there will be more people than it is now, and I saw few times that even visa could not manage transactions over the world with 50ktx/s, so unless btc won't overcome this I don't think it will work.  Right now we are at 7txs per second so yhm...

Bitcoin will always be the best currency ever created and yes in this time its not yet but sooner and we will all witness that before the next generation finally received this from us.
Yeah, bitcoin will be ideal currency of the future and I trust it. Day by day the popularity of its increase. In my opinion one day every development country will accepted bitcoin.
Indeed as we are looking for more decentralized world and computerized system and Bitcoin is really designed for that.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Casdinyard on May 13, 2020, 01:45:53 PM
Yes bitcoin is now popular but don't think this will be an ideal currency. Because Bitcoin transaction is not instant it usually  takes time to confirm but if you send your money through bank or your credit card it hardly takes few seconds to transfer n also lots of government didn't recognized bitcoin as a currency. So it's can't be possible for bitcoin to be a ideal currency in future or even now.
Bitcoin is popular now because many people think that they could easily get rich if they invest on bitcoin, well it is possible but that defeats the main purpose of bitcoin literally to be a currency. The decentralization is what makes us so attracted to bitcoin, not that ideal currency but you have this feature "anonymity" which allows you to hide your identity in the network so you can transact around the world. But you are right sending bitcoin does not transfer instantly but I take it as an advantage since it needs a confirmation which will secure the transaction to be immutable.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Shame_Game on May 13, 2020, 02:00:32 PM
Unfortunately, I think that bitcoin may not be the ideal currency of the future. We need something more stable in price.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: bearexin on May 15, 2020, 06:11:31 PM
There is nothing perfect, so you should not hope for it.
No, bitcoin is good for so many reasons, but the world is not going to use the same currency, so it's not going to work. If you're thinking that the whole world will start making use of Bitcoin, then you're wrong. And as a matter of fact some countries are already creating their own cryptocurrencies, though from the look of things they seem like they are not being successful.

Still waiting for China to release their own and I will see how it goes. The way I see things, these cryptocurrencies might just serve as other means of payment, just like we have PayPal, Payoneer and other payment methods. I guess this world will slowly move toward more privacy oriented due to governments' annoying restrictions for taxation and other reasons. When people start valuing their privacy the most, bitcoin will become more hit.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: bobitza on June 15, 2020, 11:09:25 PM
When I say ideal I mean:

  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.

These are some basics requirements for the ideal currency. But I have a question. There are public and private keys out there. You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?

Should bitcoin use SHA512? Or something even stronger?
Everyone thinks that bitcoin is the ideal currency of the future because of its superior features. In the era of technology 4.0, bitcoin meets fast, low deposit costs, higher interest rates than any other currency. Even investing in cryptocurrencies is the best enrichment business in other industries. However, this market has many unpredictable risks.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: dersu18 on June 18, 2020, 04:10:19 PM
Bitcoin may or may not be a widely used form of money in the future, but its advantages as a store of value and safe haven against fast-depreciating currencies are undeniable. Much like gold before it, economic volatility and inflation drive the demand for Bitcoin.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: amnakhan2020 on June 18, 2020, 08:26:42 PM
Bitcoin: The End of Money as we Know It examines the meteoric ascent of the revolutionary cryptocurrency which rose from the ashes of the 2008 global financial crisis. As economies, and ultimately people, struggle all over the world, Bitcoin purports to provide an antidote to a world in which money is created irresponsibly by private banks. This Kickstarter funded film dissects the underlying assumptions that we make about money, and also questions the Bitcoin advocates assertions about this new digital currency. Will Bitcoin really signify the inauguration of a new Internet-based monetary system, or is it a Ponzi scheme, another bubble waiting to burst? Several experts and economic commentators, some enthusiastic and others sceptical about the potential of Bitcoin are cross-examined as the documentary explores the question: soon the end of money.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: dentolas on June 18, 2020, 08:41:39 PM
I think that BTC lacks the useability to turn into an everyday currency... I do agree with some of your points mainly in relation of store of value, but the lack scalibility (for billions of users) and the transaction cost and time (it remains to be seen if the LN will be widely adopted and if it really works) tackle the possibility to use it as an everyday currency...
As for control... at the moment the market is small, so we have seen some examples of whale action....


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Alert31 on June 19, 2020, 05:49:58 AM
I think it's still a long process before it become an ideal currency. But only future can tell what will happen in bitcoin. For,now if we think of it,there are many things we need to consider about bitcoin. The transaction fee is to high and it takes hour for transaction to complete. It needs both public and private key. It needs internet connection always to transact. It's complicated for the adult people to use. It was far different from our fiat money. It was digital and we can't hold it like a paper money. But of course it was very useful as a digital currency specially this pandemic situation. We are lucky to have a digital currency like bitcoin.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Negotiation on June 19, 2020, 06:36:04 AM
Bitcoin may or may not be a widely used form of money in the future, but its advantages as a store of value and safe haven against fast-depreciating currencies are undeniable. Much like gold before it, economic volatility and inflation drive the demand for Bitcoin.

The demand for Bitcoin is higher than the price of gold and the gold market goes down due to inflation but it does not have any effect on the Bitcoin market Bitcoin survives based on demand. Bitcoin will be considered as a much better currency an ideal currency for the future.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Rulelies on June 19, 2020, 06:59:09 AM
Bitcoin is still quite far from being ideal. But very soon the loop holes in bitcoin and other cryptocurrencies will be fixed.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: GDragon on June 19, 2020, 11:56:35 AM
Still far from being an ideal currency, I think bank will still exist in the future because you know government... There are so much to think of to achieve the ideal currency because we still don't have it right now. Fiat and btc has its problems, and between the two, fiat is still the efficient one, and people will still choose the efficient one. Volatility, private keys, slow transaction with low fee etc is a problem in btc, and I am not including the image btc has as currency being used illegally.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: bitcoin2141 on June 19, 2020, 01:18:39 PM
I think that in decades, people will really learn how to crack Bitcoin wallets, so the excellent future of Bitcoin is still in doubt. But I'm sure that everything will change.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Zyxel52 on July 09, 2020, 08:38:49 AM
it would be cool to have BTC and pay them wherever you can, but like real money they can be stolen from your wallet. so you should not hope


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: FlightyPouch on July 09, 2020, 03:07:09 PM
Yeah, bitcoin will be ideal currency of the future and I trust it. Day by day the popularity of its increase. In my opinion one day every development country will accepted bitcoin.

I think this depends since each and everyone has had a different idea of how should be a currency be ideal. Most of us want it to be decentralized, other doesn't want it. We prefer a lot of things so I think we should be taking it to that argument. The question here is will bitcoin be used as a currency even though it is decentralized and volatile. Ideal or not, bitcoin has its good sides that will make people consider using it as a currency.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Spaffin on July 09, 2020, 03:38:42 PM
One way or another, Bitcoin is the best tool in the future for most electronic payments. Based on this, interest in Bitcoin will rise along with its value, since the increase in the number of Bitcoin users will be global. But on the way to Bitcoin, before recognizing it as a means of payment, it is precisely volatility that is why not only politicians, but most importantly, many investors should reconsider their attitude to Bitcoin so as not to use it only as a speculative tool.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Mulann2 on July 09, 2020, 04:03:54 PM
Btc was originally design by Satoshi as a digital currency to be a second option for transaction, and so far btc has been used by many for this purpose, so I do think btc perhaps will be the most used currency in the future although nobody knows what the future holds.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: lumeire on July 09, 2020, 04:15:18 PM
it would be cool to have BTC and pay them wherever you can, but like real money they can be stolen from your wallet. so you should not hope
Bitcoin wallet can't be hacked or your bitcoins can't be stolen by someone unknown if you haven't fallen in their trap in downloading any software or giving them the details of your wallet.
You can pay to whoever you want with bitcoins and there aren't any boundaries to the bitcoins transactions also it is pseudonymous and no one can block your wallet from doing transactions. So yes I think it is the ideal currency for the future and also the decimal places can also be increased to cope up with the limited supply problem.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: RajaJudi on July 10, 2020, 05:48:31 AM
At this moment, we can think of Bitcoin being an ideal currency, yes. Although I believe more in the future when technology become powerful, especially quantum computing. With quantum computing, people can decrypt the Bitcoin address so that Bitcoin isn't safe anymore.
Please correct me if I'm wrong, I believe the algorithm to generate Bitcoin addresses aren't completely impossible to reverse, it's just really hard, practically impossible to do it with the current computing power.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Distinctin on July 10, 2020, 05:56:40 AM
At this moment, we can think of Bitcoin being an ideal currency, yes. Although I believe more in the future when technology become powerful, especially quantum computing. With quantum computing, people can decrypt the Bitcoin address so that Bitcoin isn't safe anymore.
Please correct me if I'm wrong, I believe the algorithm to generate Bitcoin addresses aren't completely impossible to reverse, it's just really hard, practically impossible to do it with the current computing power.

This is very technical, average investor would  not be able to absorb your idea especially the "quantum computing'.

I believe most investors just trust the system, they believe it's safe and they can invest on it and it's a good investment for long term, being a currency in the future, I think it could only be an alternative even if it will gain a massive adoption.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Arun729 on July 10, 2020, 09:11:04 PM
See BTCs was the first crypto currency and everyone is dieing to know about BTCs and trying to get there millions of posts about BTCs, the important thing is that bitcoin network now involves more computing power than all the super computers of the world. Probably billions of CPUs so in future this is the best thing that everyone would be knowing and would love to buy BTCs


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: pixie85 on July 10, 2020, 11:17:41 PM
Still far from being an ideal currency, I think bank will still exist in the future because you know government... There are so much to think of to achieve the ideal currency because we still don't have it right now. Fiat and btc has its problems, and between the two, fiat is still the efficient one, and people will still choose the efficient one. Volatility, private keys, slow transaction with low fee etc is a problem in btc, and I am not including the image btc has as currency being used illegally.

Banks will also exist because there are no viable ways of taking bitcoin loans and loans are the most important factor behind a successful banking.

Fiat is also used illegally. This is one of the things you cannot change or control. Even credit cards can be copied and modified to be used illegally. Bank accounts can be made with fake IDs. Talking about it like it's a disadvantage of Bitcoin is a waste of time.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Kez1817 on July 10, 2020, 11:31:02 PM
I think bitcoin cannot be an ideal currency of the future because it is volatile,the value is not stable and also you need to consider the speed of making transactions and the transaction fees. Banks are very simple in terms of transaction and it will not disappear because almost all people using banks even those who used bitcoin and other cryptocurrency. Our fiat money will not replace with bitcoin in an easy way because government has an authority over it unlike in bitcoin they cannot control it because it was decentralized. For every transaction transparency is very important to the government.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Emmychris on July 11, 2020, 03:26:21 AM
I think bitcoin will actually be the ideal currency of the future but it will take a very long time for that to happen, because in this Present time the banks and the fiat currency has the greatest power since it's been supported by the government, and many people trust the banking system which is centralized, and there  sees the decentralized system as a scam.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: The cure on July 11, 2020, 04:00:21 AM
I think it is possible that bitcoin will be the ideal currency of the future but it will takes long time to happen, as of now many are still confident to use fiat money and trusting traditional banks to invest.Because it is centralized and supported by the government that's why they trusted it more than cryptocurrency.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: romero121 on July 11, 2020, 05:02:35 AM
More and more cryptocurrencies were getting developed over different platforms with varied usability. Among this, very few succeeds. Right now we've got more than 5500 cryptocurrencies in the market. In terms of usage we've got bitcoin to be the dominant one. Based on this without doubt bitcoin will serve as the ideal currency of the future.

Years back people were in dilemma whether to use bitcoin or not. Now with more and more legalization of cryptocurrencies by governments people started to use it.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: overttherainbow on July 11, 2020, 06:39:38 AM
Others crypto could be but bitcoin will never achieve Visa level TPS


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: abuya55 on July 11, 2020, 07:32:20 AM
Bitcoin has all benefits of the ideal currency you mentioned, but there are also some drawbacks like its volatility, scalability problem and traceability. That can't be associated with a perfect medium of exchange.   


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Egentle on July 11, 2020, 11:11:24 AM
Well considering the rate at which fiat and paper currencies are disappointing, bitcoin seems a good option, but even bitcoin is affected by price volatility, it would be a perfect fit if it is a stable coin, my opinion though


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: FlightyPouch on July 11, 2020, 12:17:58 PM
Well considering the rate at which fiat and paper currencies are disappointing, bitcoin seems a good option, but even bitcoin is affected by price volatility, it would be a perfect fit if it is a stable coin, my opinion though

Bitcoin is affected by volatility positively and negatively. If it is stable, I don't think we will be seeing this price right now. As a decentralized crypto currency, being volatile is normal but I do respect your opinion since for you that is the ideal bitcoin that might be the ideal currency in the future. As long as most of the people here look at it as a speculative asset, I don't think it will never be used as a currency.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Agent_of_crypto on July 11, 2020, 02:58:36 PM
Probably not the ideal currency cause :
1. not stable value
2. deflationnist money.
But I think in the Future, people will think Bitcoin (2010 decade) was an important money historic breaking point.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: stiffbud on July 11, 2020, 03:14:38 PM
Well considering the rate at which fiat and paper currencies are disappointing, bitcoin seems a good option, but even bitcoin is affected by price volatility, it would be a perfect fit if it is a stable coin, my opinion though
Governments all around the globe are currently trying to develop their own national digital currency and I guess in the future we will be transacting with these currencies wherever we go. Consider the case of China, in China most of the payments are processed by its own payment processors and mostly the Chinese people use digital methods of payment, they don't even have to type in the password for doing payments, their facial recognition software does its job perfectly. The future will definitely be governed by the digital currencies and bitcoin will also be one of those currencies.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: kentrolla on July 11, 2020, 05:13:22 PM
Well considering the rate at which fiat and paper currencies are disappointing, bitcoin seems a good option, but even bitcoin is affected by price volatility, it would be a perfect fit if it is a stable coin, my opinion though
Governments all around the globe are currently trying to develop their own national digital currency and I guess in the future we will be transacting with these currencies wherever we go. Consider the case of China, in China most of the payments are processed by its own payment processors and mostly the Chinese people use digital methods of payment, they don't even have to type in the password for doing payments, their facial recognition software does its job perfectly. The future will definitely be governed by the digital currencies and bitcoin will also be one of those currencies.

Exactly, many of the government's want to launch their own coin rather than going for other coins which has already listed also many of them give prior to it because they feel like it's a secured one and probably better.

This digital payment system will work all over the globe very soon and I believe in most of the countries they will lift the crypto ban too.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Leviathan.007 on July 12, 2020, 06:48:57 AM
Bitcoin is currently, partly the most ideal currency. For some people who looking for privacy and security it's the most ideal idea because, I guess that's the goal of Bitcoin, For people who usually transfer a huge a amount of money And for people like me who don't like the normal back accounts because of the corrupted banking systems and printing money all the time. These are benefits of Bitcoin for people and depends how and where you use it. But, for small transactions requiring higher speeds, Bitcoin is still not that much ideal. However there can be a solution for this problem in near future.
Also, regarding to hash encryption, I guess SHA256 is already strong enough for now can years later, however the security can be upgraded for the future usage.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Rlyn on July 12, 2020, 06:59:51 AM
Well, bitcoin is already an ideal currency but only for those people who knew bitcoin. But, not all people who knew Bitcoin deal with it. So it is still hard to predict


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: bitbunnny on July 12, 2020, 07:11:40 AM
Bitcoin is currently, partly the most ideal currency. For some people who looking for privacy and security it's the most ideal idea because, I guess that's the goal of Bitcoin, For people who usually transfer a huge a amount of money And for people like me who don't like the normal back accounts because of the corrupted banking systems and printing money all the time. These are benefits of Bitcoin for people and depends how and where you use it. But, for small transactions requiring higher speeds, Bitcoin is still not that much ideal. However there can be a solution for this problem in near future.
Also, regarding to hash encryption, I guess SHA256 is already strong enough for now can years later, however the security can be upgraded for the future usage.

Bitcoin is still far away from ideal currency. Yes, you described its benefits which are true but there are also many limitations.  Like high volatility, low adoption, lack of regulation. Because all of that you can't rely only on Bitcoin but you actually need to use sone others m currencies, fiat currencies, to be able to cover all needs in your real life.
Maybe in the future that will change and Bitcoin will go through certain kind of upgrade to become more ideal. But in general words, nothing in life is ideal.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: 3meek on July 12, 2020, 09:00:43 AM
I don't think Bitcoin can be the currency at all in the future... Other cryptocurrencies could be used for that...
Bitcoin is not convenient for making small payments... I think that it will not change in the future!
But as a means of investing (like gold) may well be!


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Sergius16 on July 12, 2020, 09:01:37 AM
I'm afraid all these things may change in the future


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Latviand on July 12, 2020, 09:41:49 AM
An ideal currency doesn't exist in real world and bitcoin is not even close to an ideal currency!

There's no such thing as an ideal currency and bitcoin have a lot of flaws to make it as an asset.

Volatility is one and most of the people who engaged in cryptocurrency know that. But still people chose to deal with that because the profit in doing bitcoin investment is higher than you can imagine. When we talk about an ideal currency, it should be perfect, no volatility, no fluctuations and has no flaws. But in reality, that currency is non existent.

We should enjoy those cryptocurrency where we can get benefit from them and do not compare them based on their value because they have their own importance and prices depending on the market,.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: stiffbud on July 12, 2020, 10:46:00 AM
Well considering the rate at which fiat and paper currencies are disappointing, bitcoin seems a good option, but even bitcoin is affected by price volatility, it would be a perfect fit if it is a stable coin, my opinion though
Governments all around the globe are currently trying to develop their own national digital currency and I guess in the future we will be transacting with these currencies wherever we go. Consider the case of China, in China most of the payments are processed by its own payment processors and mostly the Chinese people use digital methods of payment, they don't even have to type in the password for doing payments, their facial recognition software does its job perfectly. The future will definitely be governed by the digital currencies and bitcoin will also be one of those currencies.

Exactly, many of the government's want to launch their own coin rather than going for other coins which has already listed also many of them give prior to it because they feel like it's a secured one and probably better.

This digital payment system will work all over the globe very soon and I believe in most of the countries they will lift the crypto ban too.

I can't say anything about the crypto ban in different countries as this will be their personal choice whether to lift the ban or keep implementing it and I think that in the future due to the pressure from other countries and the taxes collected by the governments, those countries with a crypto ban in place will surely lift the ban or at least will think about it.
Definitely Yes! In future most of the transactions will be done digitally just like what we see in the science fiction movies it will become a reality and the society will become paperless in terms of using money.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Asuspawer09 on July 12, 2020, 12:33:49 PM
When I say ideal I mean:

  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.

These are some basics requirements for the ideal currency. But I have a question. There are public and private keys out there. You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?

Should bitcoin use SHA512? Or something even stronger?

I guess bitcoin technology really is futuristic having this digital currency or digital money seems to be the future.

As of now, there are still so many countries that are using physical money or fiat money but when you're thinking about future its more like of advance technology when it comes to currency or money we could say that bitcoin or cryptocurrency really is the most advance as of today that is really suited in the future.

For sure we want a more reliable, fast transaction as we get more advanced technologies in the future. Some better technology could exist in the future but I guess bitcoin is the best at the moment.



Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Majharul Saiif on September 26, 2020, 04:29:40 PM
This is very normal. In my opinion, Bitcoin will be the ideal currency. Because Bitcoin gives us many benefits and even in such a pandemic situation Bitcoin is going with our highest service. However, if Bitcoin can overcome the difficulties that are there, it will become the ideal current any how.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: k@suy on September 26, 2020, 04:40:36 PM
This is very normal. In my opinion, Bitcoin will be the ideal currency. Because Bitcoin gives us many benefits and even in such a pandemic situation Bitcoin is going with our highest service. However, if Bitcoin can overcome the difficulties that are there, it will become the ideal current any how.
In some people bitcoin is the future currency for them but for me if I would be asked? All I can say is nobody can predict what will happen next because there are things that are unexpectedly can occur in the future just like this pandemic we didn't expect this to come same as if the bitcoin will be the future currency. There are instances that we should keep in mind in order for us not to expect and to be hurt in the future if ever that the bitcoin wouldn't be our future currency.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: TedMosby on September 26, 2020, 05:47:49 PM
  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.

so the last point refers to bitcoin lightning network then.

hmm, I found this on Wikipedia when I searched for ideal money.
https://en.wikipedia.org/wiki/Ideal_money
it explains bitcoin and ideal money from Nash's perspectives.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: peterpanda on September 26, 2020, 05:58:57 PM
Yes, bitcoin has ability to be an ideal currency in future. Everyday people are joining with bitcoin. At this stage it is most popular crypto currency.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Renampun on September 26, 2020, 09:55:38 PM
This is very normal. In my opinion, Bitcoin will be the ideal currency. Because Bitcoin gives us many benefits and even in such a pandemic situation Bitcoin is going with our highest service. However, if Bitcoin can overcome the difficulties that are there, it will become the ideal current any how.
in this pandemic, Bitcoin can be said very resiliently...
I believe Bitcoin can become the ideal currency in the future but the biggest obstacle is the transaction processing time which seems slow and also its value has changed drastically. I'm more into 'Bitcoin is the most ideal asset in the future'.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: kezinaur14 on September 26, 2020, 11:17:00 PM
I don't think that it would be possible in future, even though cryptocurrency has been used by so many people around the world, even though it is really helpful for everyone who is using it, it cannot still be a standard currency in the future because as what we all know it is decentralized, which means it cannot be handled by the government and its volatility makes it not suitable to be used for daily lives.

I think cryptocurrency is only good as an alternative currency for fiat currency, it is meant to be converted to fiat currency whenever we want to.

I agree, maybe bitcoin as we know it will be the BASIS of whatever currency we wind up using down the line, but I do think that whatever we end up using will be somehow referencing BTC (i.e, it won't just use "the blockchaiN", it will be built on top of the actual bitcoin blockchain but be much more scalable).


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: FlightyPouch on September 26, 2020, 11:30:11 PM
This is very normal. In my opinion, Bitcoin will be the ideal currency. Because Bitcoin gives us many benefits and even in such a pandemic situation Bitcoin is going with our highest service. However, if Bitcoin can overcome the difficulties that are there, it will become the ideal current any how.

Doesn't mean it gave us great benefits or usually, profits, means that it is an ideal currency. Decentralization is one of the main reasons why it is said to be an ideal currency but we all know that the government will not allow a decentralized crypto currency replace with what we have now. I think I see it as the best alternative for fiat.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Zionatin on September 26, 2020, 11:55:44 PM
Probably not the ideal currency cause :
1. not stable value
2. deflationnist money.
But I think in the Future, people will think Bitcoin (2010 decade) was an important money historic breaking point.

"deflationnist money." really? Many fiat currencies only go down in value since they were invented. Go do your homework.

Well considering the rate at which fiat and paper currencies are disappointing, bitcoin seems a good option, but even bitcoin is affected by price volatility, it would be a perfect fit if it is a stable coin, my opinion though

You right. Some fiat currencies have only performed badly but people seem to think that the might USA and pound are the only currencies in existence. Many countries from third worlds have fiat which is worthless and becomes more so every day. Bitcoin is more stable then these fiat currencies if you compare them. I would rather have something that goes up and down then something that generally just goes down. and rarely goes up.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: pankowri on September 29, 2020, 04:23:26 PM
I believe that there are many criteria to consider currency as an ideal currency. Every people have their own criteria for it. Well, there are different pros and cons of each currency and way of transaction available in this world. Only a person can say if such currency is ideal for him/her or can say that "this currency is better than this". But in general, I don't see any ideal currency for now.



You are absolutely right. I would like to subtract that Bitcoin has not yet established itself as an ideal currency but will be able to do so in the future.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: mezzaluna on September 29, 2020, 06:26:52 PM
When I say ideal I mean:

  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.

These are some basics requirements for the ideal currency. But I have a question. There are public and private keys out there. You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?

Should bitcoin use SHA512? Or something even stronger?

These are actually the ideas that makes up "Bitcoin" but if the question tackles a broader sense of ideal currency, I guess a broader answer would mean a cashless way to provide payments.

I actually support you that idea since Bitcoin would really need a better service if it wants to be usable anywhere in the world. Bitcoin can still be controlled though??? but lets just wait it out on time


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Zemomtum on September 29, 2020, 11:07:49 PM
It might not be Bitcoin per se buy I foresee Federal digital currency to be adopted in the future. I am very sure each jurisdiction re still studying this revolution. 


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Sadlife on September 29, 2020, 11:46:50 PM
Look's like Bitcoin has all the criteria you mentioned, i also believe that Bitcoin will be much more valuable in the future, because unlike any other asset it has no infinite supply that can create inflation causing all units in the supply to decrease in purchasing power. Also its more easy to use than gold, that gives financial freedom to the user. You can be your own bank without a centralized authority controlling your money.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: Vintry Dribbler 1975 on September 29, 2020, 11:53:36 PM
Bitcoin may be the grandfather (Adam AND Eve??) of all Crypto and have a place for exchanging high volumes of fiat dollars/euro etc, but the smaller than one satoshi it is aimed, then people will turn to other cypto and use the bitcoin to transition their funds back to fiat.  We may have already seen bitcoin at its ATH for that very reason.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: teosanru on September 30, 2020, 01:19:18 AM
When I say ideal I mean:

  • People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
  • Over time, it will still have value.
  • It cannot be spoiled by human.
  • It is decentralized, no one controls it.
  • You can send/receive the currency really quickly.

These are some basics requirements for the ideal currency. But I have a question. There are public and private keys out there. You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?

Should bitcoin use SHA512? Or something even stronger?
Nope, bitcoin won't really be an ideal currency if we are talking about 80 years from now. There are a lot of reasons about it.
1. It can be spoiled by humans even if this looks unrealistic as of now future carries it's own uncertainty. The type of pace we are seeing in our technological advancements I really doubt that Bitcoin would be able to maintain it's solidarity until then.
2. Hyper deflationary spiral. Even though argued by a few this has been one of the greatest threats for using bitcoin as a currency. We haven't seen any use case solutions for this so far. This was why in history too the rare metals currencies were always short lived.
3. We definitely can't send receive it that quickly if we are talking about daily transaction atleast. Moreover the alternatives to bitcoin would be the biggest problem in the way. They would provide much better performance at lesser fees. so bringing the whole world on single currency without some sort of legislation is going to be pretty difficult i believe.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: JuSayCo on September 30, 2020, 01:19:50 AM
The most high-technology driven future is fast approaching but there are still lots of things to consider before we comprehend the real essence of ideal currency. There might also a lot of uncertain things/events to occur that might affect the value of bitcoin and other crypto currency. We can see now the wider global adoption to Bitcoin and its popularity, but these doesn't mean that its an ideal currency despite all the awesome features and profits it gives to people. It may be more on top, even bigger and bolder, and will exceeds more than our expectations, but still it was too far to be an ideal currency. I think, I would go for the one above that it really depends on the peoples adoption in the mainstream world, and there are really things to consider before we can call it as an ideal currency.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: abhiseshakana on October 01, 2020, 05:32:24 AM
The most high-technology driven future is fast approaching but there are still lots of things to consider before we comprehend the real essence of ideal currency. There might also a lot of uncertain things/events to occur that might affect the value of bitcoin and other crypto currency. We can see now the wider global adoption to Bitcoin and its popularity, but these doesn't mean that its an ideal currency despite all the awesome features and profits it gives to people. It may be more on top, even bigger and bolder, and will exceeds more than our expectations, but still it was too far to be an ideal currency. I think, I would go for the one above that it really depends on the peoples adoption in the mainstream world, and there are really things to consider before we can call it as an ideal currency.

The ideal currency is one that has intrinsic value because, with the use of currency that has intrinsic value, justice will be achieved for all people on earth, and there is no difference between the intrinsic value and the currency value (seigniorage). So in the end there will be no subtle theft by the monetary authority to the public or from one country to another, avoiding the instability (bubble economy) caused by socio-economic inequality.

Fiat has absolutely no intrinsic value and is only useful if society uses and trusts it, decides on paper money as a means of storing assets as well as a means of transaction. Meanwhile, people have to work hard to get it. Seigniorage only benefits certain parties, that is; commercial banking through the provision of a number of free banking services and preferential borrowers from banks through low interest rates. Meanwhile, society's loss is the difference in the opportunity cost of creating money to society and the primary interest rate.


Title: Re: Will bitcoin be the ideal currency of the future?
Post by: PonZZ on October 01, 2020, 06:35:49 AM
Bitcoin has a big disadvantage that makes it not so ideal. Bitcoin is very volatile, the perfect currency needs to be more stable.