Bitcoin Forum

The dip is bringing doubt, for many people like us who believe that bitcoins are the future of money. If money has a value storage function from monetary economics and bitcoins with how their value can just suddenly drop, can we still defend them as the future of money?

https://en.wikipedia.org/wiki/Store_of_value

I never think Bitcoin as future of money, but as an alternative.  I think so because I believe Bitcoin can be considered by government as an alternative but not as their national currency.  An alternative will never be the future of money because of various reason.

The store of value has been one of the major issue why financial institution disregard Bitcoin as money, due to high volatility, Bitcoin is considered as poor store of value.

It's most certainly a alternative to banks, which I believe we've largely achieved. Basically, the only other alternative would've been cash, but then you're dealing with physical security, which a lot of people can't afford.

Bitcoin, you can secure you a reasonable degree, and it's fairly easy to do so, especially with the innovations with software as of recent. Still, we've probably got a long way to go before this important point/usage becomes more mainstream knowledge.

As an alternative to fiat, sure. However, it probably isn't going to be as widespread as a lot of us first thought. There's likely to be too many stumbling blocks in the way, and I think the governments of the world will probably make it very difficult to achieve. Not impossible, but incredibly difficult I'd say.

However, I don't think that was the intention of Bitcoin in the first place, and instead is achieving exactly what it set out to do, today.

It can co-exist with whatever is going to be the medium of exchange in the future which is what's happening now. There will still be other currencies that will be accepted but the future is unknown and what will be the consensus for most countries.
But I think we are already seeing the pattern of it that there are countries that do like bitcoin as a medium of exchange and as a store of value per se. We may just see it with other currencies that we usually use so it's still going to be part of the future.

Satoshi did not create Bitcoin to be the future of money or to replace fiat money. He did not also create it to compete with fiat money. But he created it to be an alternative to fiat. This Bitcoin has been serving the purpose.
For store of value, a time will come when Bitcoin will be more stable in price. That is when there is massive adoption of bitcoin. Before that time we should always be careful on how much we invest. It is important to invest what you can forfiet .

Fiat currencies also crash, but they crash when something fundamentally bad happens with their country's economy, and not when one exchange shits its pants. For Bitcoin to have a shot at becoming "the future of money", it must demonstrate resilience, it should be withstanding the FUD and not crashing by 20% over something that has no influence on the network and the protocol.

People say that Bitcoin will become less volatile when it will be more adopted, but how can it get adopted when its so volatile?

Nothing is completely immune from crises. Currencies and gold are influenced by the crisis as well, but they look a bit stable because they have no high volatility. If you view Bitcoin from the price stability, I agree that Bitcoin seems hard to be the future money. But if you view Bitcoin from the simplicity or the effectiveness in transactions, Bitcoin has an advantage as the future money. It is also better in transparency, it is easy to track every time. So, how the potential of Bitcoin to be the future money, depends on how you view it. However, we cannot deny the fact that there are already many people using Bitcoin as a currency. Agree or not, Bitcoin is already a global currency.

flip your mindset.. the DIP is a great time. not a doubt time

VALUE is NOT PRICE
value is a different number to the price

lets take fiat currency

a $10 loses value over time.
take a $10 in 2012, it would buy 7.5 loaves of bread, in 2022 only 5.5 loaves
fiat money is a slow stable rate of loss, but its still a long term loss

bitcoin however is a great store of value long term
2012 would buy 4 loaves, 2022 would by 11,000 loaves
..
the other thing to mention is that the VALUE is not PRICE

again someone earning $10 an hour vs someone earning more, is a separation of individuals value based on cost of living.
FIATS existance of value is locked to things like the laws of minimum wage and tax which keep fiat in power and circulation, yet the min wage price is not meeting the standard expectation of cost of living

..
where as bitcoins value is not its market price..
bitcoins value is a number set at the periodic LOW.

value is at the low(a number underneath todays market rate) not the high(EG a ath number).
the speculative market rate where it goes ATH every 2-4 years is not where value is. the ATH is the PREMIUM not the value


when the bitcoin price is near to the LOW its GREAT VALUE, when the market rate is high is far from value and a premium

emphasis:
bitcoins store of value is not the market price. its a number that sits below market price. but its a non-zero number

bitcoins VALUE for 2020 was ~$4k for 2022 is about $15k
the market PRICE is not the value. but speculative amount above value

bitcoins store of value over time goes up because over the years the non-zero-bottom raises

buying bitcoin at market rate is a premium above value
right now bitcoin is at great value to buy compared to buying at 2021 peak

but even so buying at 2021 peak would be in say 2-4 years time great value compared to the future value when the deflation raise of the non-zero-bottom moves up over years

..
emphasis.
store of value is not about "locking in price"
its not about buying bitcoin at $70k in 2021 and able to retrieve out $70k in 2022

its about the VALUE of 2020 being $4k . the value of 2021 being $10k and the value of bitcoin 2022 being $15k
and you able to sell coin and get your value out.

buying bitcoin on markets does not lock in the market rate as value. the price is not value
you pay premiums ontop of value

this is why its always best to buy low. buy the dip., because then you are securing more of your wealth into store of value

EG

imagine you hav $20k wealth
buying bitcoin in 2021 at $70k market price is ~1/7(15%) wealth lock because although the market ATH to $70k the value was $10k

buying bitcoin in 2022 at $20k market price is 3/4(75%) wealth lock, because although the market was at $20k the value was $15k

now imagine its 2017
value was ~$900. but you bought in at the market year end of $20k. . at that precise moment your wealth lock store of value would have been under 5%.. yet due to deflation, waiting 5 years turned that 5% into 75%

where as if you bought earlier in the year of 2017 at say $1k a coin. you would have had 20 coins and a 90% wealth lock store of value. which today in 2022 would be where your $20k buy is now worth $360k which is a 1800% store of value
..
bitcoins VALUE is never found at the ATH. the ATH is bad time to buy. back time to put your wealth into bitcoin.
buying the dip is the great time to put your wealth in. its the best time to lock more of your wealth into bitcoin store of value

yet even when you do accidentality or stupidly buy bitcoin at a ATH. your not at complete loss. you just have to wait it out and have patience for bitcoins store of value non zero bottom to raise up because of deflation to reach your break even or profit point

...
summary
buying the high is (short term) where you should have doubt. you should not be excited or wanting to buy when the price is at a high. you should have doubts about locking in your wealth at a high if you are only wanting t be a short term holder

buying at the ow, the dip is when you should get excited and lock in more of your wealth.

buy low, sell high.. not the opposite
buy the dip not the hype

long term however eventually even buying on a previous high will eventually lead with patience to you breaking even or profiting . IF YOU HAVE PATIENCE

but just remember to buy low to secure more of your wealth into store of value. and never consider the market price or its occasional highs as a 'vale' point.. the highs are not a point of value.. the lows are..buy into prices closer to the value not the premium

Satoshi created bitcoin to replace the outdated monetary system of fiat but it will never achieve that goal because the government will never let that happen. Plus the volatility of bitcoin surely no one dares to use such a volatile asset in daily life, bitcoin is more suitable as an investment than as a currency.

nope. bitcoin was created not to become a one world currency that destroys all fiats.. it was created to give an alternative option to escape or have a choice away from fiat

anything can be a currency. even alcohol or sexual favours.
if people want to swap things for another thing then its their curency
dont confuse "currency" with more common use mediums of exchange like money


again bitcoin was never intended to replace fiat, but if it did. the volatility of markets would stabilise. where the deflation would still exist but would be a smoother raise of value.. compared to fiats smooth loss of value

lets take bitcoin becoming more popular in some countries.
bitcoin is not replacing el salvadors fiat, but it has had a few slow starts to become accepted as another form of money in el salvador., giving el salvadorians an extra choice

for the last 6 months the market price movements happened between $16k-$24k
averaging a $20k where its a 20% below to 20% above average

lets take other currencies
in the same 6 months. things like USD has seen value of things like petrol and food change by more then 40% swing

I’m not sure that even the biggest of Bitcoin supporters necessarily think that bitcoin is going to replace fiat money. I’ve sort of always been of the belief that it would work in conjunction with fiat currencies. But, how that’s exactly going to work I’m not so sure and I do start to have more and more doubts as time goes on.  I think bitcoins future is bright, it just seems to be taking a lot longer for certain things to advance that need to in order for it to become a useful currency.

Bitcoin's volatility is definitely not a characteristic of a future money. So rather than accepting it as a natural Bitcoin tendency, it should be treated more as a hindrance. If Bitcoin were to be the future of money, its price shouldn't be this volatile. It's not commerce or business-friendly this way. This is definitely one of the challenges of Bitcoin for it to be widely adopted as a payment method. Although 1BTC is always 1BTC, I still cannot imagine a day in the near future when Bitcoin is totally detached from its fiat equivalent.

Hard to say 'coz if this is the future, there will be a lot of changes to makes especially with different countries' acknowledgement of this technology. There is a higher tendencu for fiat and cryptocurrencies to co-exist in the future rather than Bitcoin and other coins alone. If this would be the main medium of payment, governments will have no access of every situation not to mention this technology being not prone to taxation, which could be issues for future implementation. So I don't think so.

Indeed. Stability of market value is a must when it comes to a mode of payment to be used on a daily basis. If the value of the currency moves from time to time, what would happen to local markets then? They can indeed announce a fixed price but during highs, investors won't surely use their holdings to purchase a cabbage (just an example).

A possible future for money relies on the idea that bitcoins will become useful for more than just speculative trading. Its growing network of users is certainly capable of defining new forms of value. Bitcoins might still be a long shot, but it's definitely worth watching in the coming years.

So could we really see bitcoin become the new money in the future? This answer if It depends on how the currency evolves.

I don't think so. It's an another option of future currency.And it is really fast and secured payment option also. If the governments start accepting Bitcoin as a payment method or alternative currency then the mass adoption will happen.

bitcoins VALUE is stable. its moves slowly in a deflationary raise. giving people more goods per value over time

DO NOT confuse the value amount. with the volatile price
bitcoins value sits at the periodic low, below the market price. value that slowly increases

2020: 4k
2021: 10k
2022: 15k

the market rate(price) is temporary and moves quickly, market price sits above value.. buying low is buying good value. buying at ATH is buying at bad value(premium)

do not swap the word price for value as they are not the same.

..
fiat VALUE is not the market rate(cost of living) it is instead the min wage which changes less regular

..
fiat is inflation meaning you are always losing value over time
every few years a $10 is worth les labour hours
which also means you get less goods for your $

bitcoin is deflationary meaning you get more $ for your BTC
which means that you get more goods for your btc

In the short term, the volatility of Bitcoin is not very large. If you see it more than ten years ago, you will think that the fluctuation of Bitcoin is too serious. The prices of all commodities are getting higher and higher. Fiat currencies increasingly have no store of value. We need to find a new one to replace fiat currency.

Banks cannot compare to Bitcoin. your keys, your coin, and many other things; no third party; problems with failed bank transfers; Since bitcoin is an investment, it will grow in value over time compared to fiat currency. From the start, the goal of bitcoin was not to become the future of money—I love that it was created on anonymity—rather, it was to be a better alternative to banks, because trust is the foundation which Bitcoin was built upon.

You're having doubts just now? As if this was the first time bitcoin had a sizeable drop.

Also, we're talking about future of money. The fact that bitcoin can be good(and more stable) money in the future ones bitcoin gets enough liquidity for it to not be this volatile.

Although Bitcoin isn't created to replace fiat, but for sure it's a future of money due to decentralized, borderless transaction and no one can control your coins as long as you store it on your hardware wallet. But using Bitcoin to pay daily spending doesn't really a good idea since the fees will increase when Bitcoin price is already expensive and the volume trading is really high. This make you not worth to buy a cheap stuff since it will just cost you more to pay the fees.

In my research about bitcoin one of the things I have observed overtime is that a lot of people hold onto it and wait for its value to increase mostly because for them, they neither see it nor use it as an alternative currency. On the other hand, this is dependent on the government whether it is the future of money or not. Where it eventually exists as an alternative, it will be heavily controlled by government systems.

If you go back a few years, Bitcoin is still significantly in the green. Whereas, every single fiat to exist isn't. That's simply because of its deflationary design, but a lot of people don't look at the grand scheme of things, and instead focus on the now, and a little bit in the past. Comparing Bitcoin's price in a year or two's time frame is rather pointless. If we did the same with fiat, it'd be down just much less so because it's been around a lot longer.

I can't wait until the masses find out that in theory Bitcoin should continue to increase in value, while their fiat is guaranteed to be subject to inflation, and therefore continue to make them poorer as time goes on. Probably, won't happen though.

The dip always bring doubt to the non believers,not the people who believes Bitcoin's future would be great, not necessarily the future of money as it's volatility is holding it to become the main currency. But nobody knows when will Bitcoin become less volatile.
One thing is for sure, Bitcoin is here to stay and the future looks very promising, not as the future of money, but as an alternative currency that doesn't need any 3rd party when sending or receiving money from one end of the world to another.

Because an exchange did shady actions and affected a market price temporarily, you’re doubting Bitcoin? That is in no way related to this occurrence, has changed in no way and still does what it’s supposed to do. To me it doesn’t even seem like you understand what you’re investing in or how markets work, if you’re not even seeing this as an opportunity to get cheap sats. If you’re just here for the price(that’s how it sounds) then the volatility is what will make you money. Use it while you can because it won’t last forever. And better: understand exactly what you’re investing in, why you should self custody and the world around it, so things like this don’t create fud in yourself and don’t even affect you.

Bitcoin is just a digital asset and the high volatility has made it not to be regarded as a store of value.
I treat Bitcoin as an asset for investment and by so doing, we possibly be conscious of the risk involved
No matter how much Bitcoin you have in stock, when spending,we end up changing it to a country's fiat which can't be dumped because it is a legal tender and it's value remains the same in such a country.

Bitcoin will not be the future money since fiat money is still there and can not be dumped. Bitcoin is a digital currency where as fiat is physical cash which was created by the government of every country for trading on goods and services. Bitcoin will only be an alternative to fiat money, In the nearest future when Bitcoin has been widely spread it is the peoples choice to choose the kind of currency they want to use for their transactions.

The government are not OK with Bitcoin due to it's decentralized system which makes it impossible for them to control,this is the major reason they find it difficult to adopt Bitcoin in most countries. Government will not give total acceptance to Bitcoin to replace fiat since the government believes in a centralized system in order for them to have control over the economy and the citizens.

Bitcoin solves the third-party problem created by banks or the government. Bitcoin is not very old to become an alternative to fiat but all the people who invested in bitcoin are now more wealthy than people who save their money in the bank. You are right- it is way better alternative to banks.

Bitcoin volatility decreases over time and will decrease further so one day is can become more stable than most anchor currencies nowadays. Different decisions like Lightning Network and some other can solve problems of scalability and transaction time. So someday Bitcoin can become a popular currency, all main existing problems are just problem of early ages.

But right you are it is not some only needful path as being a competitive alternative Bitcoin makes world better already. If Bitcoin will become a really popular currency it will be good, if not it is not so important.

If we're talking about Bitcoin as money, then the fact of it losing value should not be of high concern. After all, most fiat loses value over time, and sometimes inflation goes over the top and a currency loses a very big chunk of its value. If Bitcoin more or less stabilizes at $17k for years, for example, it would be perfectly suitable to be money. I think Bitcoin will recover, so it can be a good long-term investment opportunity. I also believe that the price spikes and bear markets might not be as strong in the future, allowing for a more stable environment that can help to use Bitcoin as money.
I don't believe Bitcoin will replace fiat any time soon. Maybe it appeared too early for its time, when people aren't ready for decentralization yet. But it will still have a prominent place and provide an alternative to standard means of payment as well as standard investment options.

But it will be bad for Bitcoin's main idea of being better than fiat currencies: dollar is inflationary asset while Bitcoin is deflationary, and being at the same level with depreciating asset is really bad for Bitcoin. It is much better to keep being volatile for years and to postpone transformation into really popular currency than to find a strict correlation with dollar.

I want to ask this question to everyone here. Do you really have doubt on bitcoin after seeing the recent crash and the multi months bear market of bitcoin?
To tell you truth, my views on bitcoin has not changed and i am not worried at all. Yes, if you have altcoins you should be worried because any of the altcoin you hold can be the next FTT or LUNA. Even stable coins may not remain stable, but bitcoin will recover, there is no second thought about it.

It is likely we see the difference between Bitcoin and fiat money. However, despite the thing that fiat inflation is inevitable we still can't say that it soon become useless and make Bitcoin as the future of money. I, therefore, say no, Bitcoin will become widely used in the future because of its interesting feature but never this gives a reason to kill fiat money and proclaimed BTC as a new global currency.
It was not the anonymity, or third-party issue but it is all because people are preferred to us it.

Doubts are the only one you can get in bearish market if you don't know what Bitcoin really is. Volatility is the reason why it has ups and downs, dipping is a good opportunity to buy, not to doubt it. But like what I've said, if you don't have any idea about cryptocurrency, a dipping price is a no good for you because you think cryptocurrency is a thing that would only go up forever, there's no such thing.

Those people who always doubt Bitcoin in a bearish market are those people that are always buying when it reaches another all time high and would complain not making any profits after that, because it keeps dipping again.

Undoubtedly, many regard bitcoin as an investment, and not as a means of payment, which is not very reasonable in my opinion. But the rest perceive it as a means of payment, and the importance of its rate lies in what you can buy for a unit of this currency. Therefore, its value is important here.

That is what they say, that bitcoin is the future of money. I guess that is because btc is new and it has amazing features which bitcoiners think better than any other payment methods. Btc is also online and the world is now slowly transitioning to online. With this perception, they think physical money are going to be obsolete soon but the government/banks are now building a digital version of their currency and it was called CBDC.

With this implementation, I think it will now be hard for btc to become the future of money since the competition is still there. Volatility is normal in btc. This is its characteristic but this doesn't affect btc in a negative way.

Yes, most of the purpose of Bitcoin now is for profit. Well, we couldn't disagree with this since it is really helpful to us and we can earn from it. We all know that bitcoin was really made for payment since before when we send money, it is really expensive and the fees are high. But now it is used for investment, and people are hoping to get rich in the future because of Bitcoin. No matter what our reason, we know that it is really helpful to us.

Exactly, how can a volatile asset become the world currency. Bitcoin is better suited as an investment, an asset, or a commodity than as a currency. I believe it will never be able to become the world currency even if it becomes stable, government will never let something uncontrollable become something circulating in the world.

Decentralization is an operation method that is most in line with human consensus, an irreversible development direction that will not be transferred by personal consciousness. Bitcoin is great and belongs to the future.

It wasn't built to compete with any fiat or CDBC but an alternative to the Fiat money. Because if it's store value's Bitcoin has the tendency to become world currency but how soon can we achieve that when the masses are still not aware enough about the goodness of Bitcoin and using Bitcoin over Fiat money which have been around longer but leads nowhere but to high rates and inflation over the world

Bitcoin may never be the future of money, but it is the systems that support bitcoin that are changing the future of the financial system. You can even see now, how many countries are making changes to their financial infrastructure; no need to go far into the future.

I'll give you something to think about OP.

You buy a car for 100k USD and a year later it's still in perfect condition. Someone offers you 60k for it, you decline. They say you shouldn't because he saw a few of those used cars listed for 60k, but you know the value of your car and won't sell it for cheap. Some years later someone else sees that car in great condition and offers you 120k saying they don't make them anymore and he was looking for that exact model because he used to drive it but crashed and the market price now is above 100k for a used one.

That's what it means to own bitcoin. Nobody forces you to panic sell because some other people are now selling. Nobody forces you to buy when others are buying. Eventually bitcoin will trade for more than it's trading today. IMO it may not be the future of money but it's the future store of value, digital gold.

I always think and see Bitcoin as one of the future alternatives for money.  I never think even once that Bitcoin can replace fiat currency or any national currency because the government will never allow that.  Different countries may acknowledge it as legal tender but it will stop there.  It won't further escalate to being a country's national currency. Taking that situation, I think Bitcoin isn't the future of money, besides we never know what will happen in the far future,  it is possible that another technology will be invented making blockchain technology obsolete.

Due to the high volatility, you can't use Bitcoin as fiat money. There will be existing fiat whether paper money or digital forms. Bitcoin is a cryptocurrency that exists in the virtual world, it will exist the same and still, we can use it for borderless transactions. It has a value that is backed by the community. Bitcoin won't be the only future money. But yes, it is digital money which is called cryptocurrency.

I never considered it the future of money; rather, I saw it as a means of storage and a bank substitute. Despite its high volatility, Bitcoin is still largely relied on due to its decentralized nature as a means of storing value. Other features of bitcoin that individuals are interested in include the trading aspect, which they appreciate and perceive as a chance to make a lot of money.

Making it possible for individuals to send money online was Bitcoin's main goal. The goal of the digital currency was to offer an alternative payment method that could function without centralized management but otherwise be utilized much like fiat currency. Any further uses for it are secondary to this.

There are some of your statements are contradictory.
If it becomes an alternative currency in the future, means it is future money too.
Whether it is our main currency or not, it is future money as long as it can survive.

Since the use of Bitcoin is getting massive, it is a sign that Bitcoin has a big chance to survive and to adopt by people around the world. Surely, it is an indicator that Bitcoin is possible to be a future currency.

By the way, although Bitcoin is digital money, doesn't mean it has no chance to be the future money. Digital money/currency becomes more popular, its use is increasingly crucial in the current digital era.

What will stop it from becoming the world's currency is its volatility and, more importantly, its decentralization, which the government will never accept. This world is run and controlled by the government so can't expect that something not made by them can replace their product no matter how good it is. Government is the biggest barrier, can it become a currency or not, it can be said that the government will be the one to decide,

No matter the currency that will be future of money even though that Bitcoin is not going to be amoung, I still give 100% respect to Bitcoin because it's a digital currency that pave a way for all these coins we are seeing in the market right now. People prefer Bitcoin than any other crypto coins in the market and it also controls the market.
Once Bitcoin price start fluctuating, the price of altcoins too will keep fluctuating because of the so much power Bitcoin has. Since the market encourage the establishment of new project, Bitcoin will continue to be the mother board of all cryptocurrencies.

In short, similar to Gold. A digital gold as others also say about Bitcoin. Which is also ending up as a store of value.
So for me, I agree that Bitcoin is a store of value, which is in digital form.
We all know how Bitcoin works and it's economics, which if you think and look for long term, it is indeed a store of value over the time.

Everything will be affected by the crisis. Although it is legal currency, gold will also fluctuate, but Bitcoin has a relatively large advantage in trading. Bitcoin is open, transparent and decentralized. In the past ten years, Bitcoin has has become a trend in the world.

With the widespread use of Bitcoin now, El Salvador's move has become a start. Bitcoin is recognized by the government and used as legal tender, which means that Bitcoin is also likely to become money in the future. It may be a matter of time, but we This generation can't wait.

Bitcoin was originally released to allow us to decentralize, and assets can be hedged, but I don't think it's realistic as a daily payment. First off, I'm not going to trade him all the time, my idea is to hold and wait for the potential of Bitcoin for the long term.

El Salvador wanted to get benefits of popular topic being first and attracting true Bitcoin supporters and they've got some effect they hoped for. To become a popular currency worldwide Bitcoin needs more: first to solve problems of scalability and transaction time. LN is a good but not universal answer. Next it should be enough popular and competitive to replace any of popular anchor currencies, as for now it is not yet, and governments prefer to operate their own inflationary currencies as they make financial administration easier and give an option of hiding financial mistakes. So probably someday but I don't think that the same way as in El Salvador which even doesn't have an own national currency.

The value of Bitcoin is comparable to that of gold. Bitcoin cannot be used as legal tender. Even the legal currency of a country is to save the country's economy and does not want to rely on the US dollar for development.
Bitcoin is an emergency safe-haven solution. It cannot be said that Bitcoin is the future of money, it can only be said that Bitcoin will exist for a long time in the future.

You should learn this topic better as there's much misunderstanding in your words. First, Bitcoin is a legal tender in El Salvador and can be used so in some other jurisdictions. Next, talking about the future of the money: we all know which problems Bitcoin has, we know that these problems are solvable, then it is a possible situation that Bitcoin will become a worldwide popular currency in the future (not inevitably but possibly).

You have to consider the fact that not all are preferred to use Bitcoin, Therefore, never think OP that this will become the future of money but instead, this will remain as another option/alternative. I think, we just leave it that way because in the first place we are not urged to use this. In fact, the digital way of payment already existed before BItcoin but guess what, only a few people were able to adopt and use it. Many still do not know how to use this as they are still preferred using fiat money.

maybe I don't think Bitcoin will be the future of money right now. but I believe that BITCOIN HAS A GOOD FUTURE. although I'm still new to bitcoin. but for me the decline that occurred in bitcoin (even entire sectors of the economy) is the important thing to attract new people to join bitcoin (to bring in more investors). and I have read that now bitcoin holders are increasing rapidly. and one of the examples of people who have ventured into bitcoin as a result of a bear market is myself.

Yes, and bitcoin wasn't created in the first place to be the future of money or to compete with the existing fiats that are backed by the government and the community. Bitcoin is created to be an asset in digital form and to be a tool or hedge against inflation, an asset that will be much more valuable in the future but risky to be used as a fiat. Maybe in the future, but as of now, bitcoin has still a long way to go before it can compete the fiats.

Before, we thought that digital money or decentralized transactions would not be possible, but now we can see it, which is a great innovation for technology. Though you have a point that not all of us can use it as this requires the internet, and the user should know how to use a phone or computer; still, it has a possibility that this could be future money in the future (not sure if we are still alive on this time), but for now, let's use and enjoy it as it is helping us

Such technology, which will be the future money, is just being developed with the help of blockchain. It will be a CBDC that will exist in every country and it is likely to use social ratings, as it is already being used in China. Bitcoin will not be universally accepted by different countries because of decentralisation, but blockchain-based banking products could gradually replace cryptocurrency.

Short-term market fluctuations shouldn't confuse you; a store of value function's performance is only observable on very long time horizons like years, decades, or even centuries. Volatility in the early stages of establishment doesn't matter whatsoever because in these stages people still aren't able to realize the significance of a new asset meant to become a globally accepted means to preserve wealth. Take gold, for example, I have a hunch that it was extremely volatile when people started valuing this shiny rock, but still, they weren't sure if other people thought the same. The fluctuations in the demand for an emerging store of value greatly affect its short-term price (both negatively and positively), but credible monetary characteristics of a new asset inspire confidence in people that it is valuable, and that leads to the long-term growth of the price. Bitcoin is still young; most people haven't realized its significance and can't afford to hold it despite all the market fluctuations. But the number of people who understand gradually increases, and it will lead to the establishment of bitcoin as a widely accepted store of value.

I do agree that bitcoin is already doing great, if we are talking about going side by side with fiat, then we are already at a great level. Doesn't mean that it’s used a lot, it's invested a lot but not used all that much. But, I am 99% sure that the more bull runs we have in the future, he more places will start to accept it.

On the other hand, we are getting more and more common stablecoins, which means there could be some business' out there which doesn't want to accept bitcoin because of the volatility that could end up with some stablecoin alternative and start taking in crypto. So, I think it’s not even about the future, it's already at a very good level of adoption even currently, and future is even brighter.

Bitcoin is a long-term investment currency. In the long run, you won't lose much by investing in Bitcoin. Now that the economy is in recession, many currencies have depreciated. Bitcoin has the purpose of storing value, but now it is a bear market for cryptocurrencies, and many people have left cryptocurrencies. I believe that when the price of Bitcoin recovers, another group of people will enter the cryptocurrency.
Bitcoin is not the future of currency, but there will always be Bitcoin in the future, and economic problems will be adjusted through Bitcoin.

You have that faith mate. But many things can be changed in the future which makes me think also that Bitcoin won't be there forever. We know it was just another technology created, it gives some favor to us, to the investors and adopters. Yet, we have tested market recessions that trigger FOMO and panic selling and it reached the point that we think this will end this year. I hear that assumption from some people.

Is Bitcoin really the future of money? The majority will say NO and I guess that was the right answer knowing that fiat money can't be replaced. Perhaps it was protected by the government.

No doubt Bitcoin is very precious asset because it is anti-inflationary, but it is very volatile asset and currently it is difficult to adopt it in daily life for buying goods and services which is also evident from un-successful experience of Salvador to use it as currency. But I think the situation will not remain so in coming years as awareness/popularity about crypto currency is growing at very fast pace all over the world which will definitely increase its investors to many folds. This will certainly reduce the of kind of volatility what we are facing now.

Maybe we can say that BTC can be the future of money, but what is important to note is the technology behind BTC- which is the blockchain technology.

While BTC may or may not be the future of money due to several circumstances affecting its price, the introduction of the blockchain technology is the future of transactions where every data is stored and tracked in a public ledger. It just so happened that BTC is the main currency being used as the instrument behind the blockchain technology.

Though BTC prices are inflationary, we can still consider them as money in terms of investment. Again, BTC can definitely coexist with fiat and be a complement with each other.

This argument was the very old one.But the number of adoption to bitcoin was constantly increasing every year.So their is lot of chances for the same.The dip and pump of bitcoin prices enable many new buyers to the market.The new crypto currency also the reason for the survival of bitcoin for a decade.The Russia - Ukraine war had made huge investments to the crypto currency and people made their investments in terms of crypto currency.Even the people from third world countries know well about crypto currency and bitcoin.It’s very essential for the new traders to buy huge bitcoin with this dump.The price of bitcoin will back to 20k dollars in a month or few months.Hence,you can’t buy the valuable bitcoin at this price.Surely bitcoin will try to replace the place of fiat.The early adoption to bitcoin will make the new people to the next level.

I have never considered bitcoin as the future of money, but I do believe in bitcoin as a future investment in digital form or the like
because as we know fiat money is world money and cannot be replaced.
out of nowhere people think bitcoin as the money of the future

Be it as it may, Bitcoin believers like me will continue to love and support Bitcoin, i personally might not believe Bitcoin to be 100 percent store of value, but what i do believe is that bitcoin is a better option when compared to the current fiat system we have, i am not generalizing this to or for every country around the world, because i know that there are some countries with really good fiat system, but i am speaking for my country alone, our fiat system here in Nigeria has been a sh**t show for several years now, and currently , it looks like we might never see an end to the devaluation of the naira, over the years, ive learnt to store/keep 70 to 80 percent of my money in bitcoin and some other worthy cryptocurrencies.

So indeed, Bitcoin can not be a true store of value for every country and everyone, but for some third world countries where the fiat continuously loss value, i think bitcoin is a good alternative.

Bitcoin is still used as a currency not too often if we talk about it's global usage: you'll hardly pay for a cup of coffee in a cafe or for a bread in a bakery, you'll rarely get a salary or pay taxes in Bitcoin. Of course is has a good level of adoption and we can do many of these things in some places which is great if to look at the dynamics. But to become a really popular worldwide currency there is still a plenty of work. So, I'd say, that as for now Bitcoin is more a global investment asset than a worldwide currency, but it is possible that Bitcoin will become a worldwide popular currency as well.

I agree with this. Blockchain will become a huge part of our life for sure, everything in the world could use the technology of blockchain and that will make it a great thing. It will not be easy to start using blockchain in every industry but from insurance to banking to software to hospitals to everything you can imagine could be using blockchain in the future.

That means we just need to make sure that everything goes according to plan and crypto survives, as long as crypto proves how well blockchain can be used, there will be other industries going in, slowly and it will take over a decade but we will get to see many many other sectors using it in the distant future.

Judging from the behavior of various countries in the past, Bitcoin will exist for a long time. It cannot be banned completely.
Some economists believe that the main reason why a piece of paper can become currency is that it has government credit endorsement. The essence of currency has become a management method rather than a simple medium of exchange. It was the currency acts (rules) of various countries that replaced the currency status of gold and silver.
Bitcoin will become the form of currency in the future. The main reason is that the blockchain technology under Bitcoin is more convincing than the rules of the modern currency system in terms of the evolution of the rules.

Bitcoin, blockchain and crypto are three totally different terms.Blockchain is already used in different decisions but not only in decentralized and it is not even the only existing form of distributed ledger. Crypto contains not only Bitcoin but lots of altcoins as well and we know that many of altcoins are not true decentralized what makes them risky. Bitcoin uses blockchain and cryptography but not equal to these terms. Bitcoin can survive and become a worldwide popular currency even if blockchain will be replaced with some other distributed ledger and other existing altcoins fail. ;D

In case of this , that is Bitcoin becoming the future of money and for it to be used world, more improvement would have taken place as regards to the transaction fee, in such a way that the transaction fee is cheap and people could use it to pay for anything, If that did not happen , then it will still be the future of money but would be used to settle or pay for more higher bills other than coffee imo.

I mean it all depends on user’s thought. If you still don’t have trust on Bitcoin, then you also don’t have the right to claim that you are a good Bitcoin investor. I mean these market fluctuations are not new. We have seen this type of situation before. We have seen Bitcoins touching 69k usd from 8k$, and still people disrespect Bitcoins when the price fall down. I am not saying Bitcoins will give you instant profits, but yes it will take some time. Just wait patiently and wait for better results.

You are in doubt.. really well the point is yes bitcoin is the future no doubt in it as now we all are frustrated just because of the regular inflation as far I know after the years are going t pass we need to shift our whole ecosystems onto the fix supply money or bitcoin as bitcoin can be the Reserve but money for every country it's a bit doubtful.

I don’t think so.But why you doubt now? Do you know bitcoin journey? Bitcoin is most surviving ctypto in history. Like 2013-2014 bitcoin price was to much lower but now?Average $16k+.Bitcoin price early dropped this year but i still believe bitcoin price will grow up in very next year cz when bitcoin price dumped then few month or year bitcoin  price also surprised us.

Perhaps, you can't urge people to think like you, many were still in doubt about the credibility of Bitcoin and we just leave it like that forever. In fact, we have noticed that many people are selling during this bear season and this will tell us that many are not willing to hold but rather make themselves safe. It was their decision either and they have a reason for doing it. That is why we see the market moves high and low and good thing there are people who are selling at low prices so we have the chance to buy at a low price as well. Just think about the advantage they made.

It is the governments around the world to decide whether bitcoin is the future of money or not. Very few countries around the world give importance to the adoption of bitcoin, one that have made a very bold decision is the El Salvador. Majority of the countries have created their own CBDC to restrict the usage of cryptocurrencies by the common people. This hasn't made any big change in the market, but it shows the plans of the governments.

Bitcoin having multiple usage is an added advantage. In one way or the other it gets used all around even when the government haven't got big plans with the cryptomarket. However there is very less countries banned its usage which is good.

Basically, yes. Bitcoin is a very precise future money. In fact, Bitcoin can become a global currency to facilitate transactions globally, without the need for complicated administration and high fees.

However, this will not go smoothly because many parties still do not approve of the use of Bitcoin. Why? Because Bitcoin has no backup, is not controlled, is very volatile, and is also at risk. That is always their reason. In fact, there are actually many positive sides that can be used. But then again. Currency is usually associated with government regulation and control. Hence, it may not be completely successful.

Bitcoin is the Final Boss. It gives everyone in the world the property rights to protect themselves. Bitcoin is not controlled by anyone, it is owned by everyone. It has helped many people around the world achieve financial freedom. The characteristics of Bitcoin make it have better development and value-added potential, but it does not necessarily become the future of currency.

True, based on user's opinion still trust or not with Bitcoin, the old user and know about Bitcoin maybe have two opinion between positive and negative side with Bitcoin maybe when purchasing at price above $60,000. Actually if earn much profit with Bitcoin they will agree for investing in Bitcoin but some people have frustrated invest on hype moment when Bitcoin make all time high likely disappointed what happen with Bitcoin price.
I think based on experience when getting much profit have positive opinion with Bitcoin, but ever get dump drastically after investing in Bitcoin they will have bad side opinion about Bitcoin.

No doubt bitcoin was developed with the thought to replace the paper currency and also to have a significant change in the financial system of the countries.

However, since the adoption of bitcoin means that government will have less or no control over the money, this means that government will never let bitcoin grow and will never let it use as a payment gateway. There is an indirect war between public and government where government wants to continue the current banking fiat system and public wants to switch to digital money.

Of course, commission, scalability and transaction time are known problems but all of them are solvable. Bitcoin is not what it was at the start because its code is being developed all the time. So one day we'll see how all these problems are being solved. May be not tomorrow but it is better to make it reliably than fast. I'm not saying that Bitcoin is ready for replacing some of anchor currencies at the moment but I'm sure it will be in the future.

Indeed, we can't say it was impossible but that for many years from now and might not witness it to happen.
Moreover, it was important that we enjoy and value Bitcoin more than just an investment. If we have been given the chance then why not, I know it still satisfies our needs and give us a comfortable life which is what we wanted. There is no need to go to the banks and line up and pay our orders with no hassle. Just imagine how good it was but we can't deny the fact that many people still do not see it and still with the influence of their negative mindset.

Storage of value is one of the three generally accepted functions of money, (quote)..... To be honest does storage really necessarily add value to money? With the whole rising inflation if there's any disadvantage of storage is the tendency of the value of money to go down, money on its own is becoming as volatile as BTC. Those who study the BTC market enjoy it's volatility and don't necessarily want it to be the future of money but they enjoy the fact that it's decentralized.

Bitcoin can only be used as an alternative to the national currencies, and bitcoin can not be call the future of money because bitcoin is just an alternative.
But we must also know that Bitcoin is also an asset that has value and is also volatile, so Bitcoin can be taken to be a global asset and should only be used for trances border currency and devoid of any form of control by the Government or an individual, this is why Bitcoin is called the decentralized currency with a speculative price.

@OP
Look at this future of money and tell us is this what it's supposed to look like? Is it a shitcoin? Well, kind of. It's the historic purchasing power of the world's most popular fiat currency - the USD. It just looks like a shitcoin. :) 

https://cdn.statcdn.com/Statistic/1030000/1032048-blank-355.png

Ever since bitcoin was created, it's been going through cycles of extreme price increases and big dumps. Who knows, maybe that's how it's going to be forever or at least for as long as we will halving events. It tells me that bitcoin is still trying to find its price range. It was obviously not $65-70k, because it didn't hang around in that zone for too long, but it's also not $4.000 since it rebounded from that dip as well. Maybe we should consider $30-40k to become a realistic value zone for the future instead of having extreme price hikes all the time.

I quote something for you: What are bitcoin? (https://bitcoin.org/en/)


From the quote above, bitcoin is one of many other currencies that can be used as means of payment. We can expect bitcoin to be a legal currency for adoption in a country regardless of whether people use it as currency or for something else. The innovation that comes with bitcoin is much better than fiat, this has made bitcoin more suitable for both individuals and businesses to adopt.

Bitcoin is means of payment, but people tend to use it as an alternative for many reasons. Primarily this may be due to lack of widespread adoption in each country which is likely due to various reasons including price volatility that bitcoin could be intended as an alternative.

Most of the old people know the answer for this.Because the adoption of bitcoin in 2013 and 2022 is not same.It’s nearly Increase in 100 percentage of the traders and participants into the ICO.When the market was reached the new high value,their will be some good involvement of new projects to the market.Till the market back to the normal,no new project will come to existing.

I believe Bitcoin is created to remove banks and third parties from the transaction system.  It is intended to be a digital currency that can be send P2P and I believe I have never read anything on the whitepaper that it is intended to replace paper money.  If there is, probably I missed the clause and kindly redirect me to it, thanks.


The government will always be the biggest promoter of adoption and at the same time the greatest hindrance to Bitcoin.  I believe that one-day government will recognize Bitcoin but will never do the "stupid" (since government financial expert thinks that it is stupid) thing of replacing their national currency with Bitcoin.  Although the technology behind it may be the future of money, I believe Bitcoin will always be an alternative.

First of all it is a good concern but it does not have to be supported or shielded in the current situation, you mention it in your OP as a starting point in the question and it is not necessary to have this concern because we are currently in a particular moment of bitcoin.

 The diatribe then around that topic is because of what Bitcoin offers as a technology and not because its price is "x".

 Now that future depends on the trust of users at this time, if that is achieved, it will surely be an option, perhaps not the only one, but it will be one of the most important options.

The adoption rate have changed with time, but we can't be judgemental based on the adoption for it to be used as mainstream currency. To me, it serves as an alternate to the traditional fiat. Maybe this could change over time, but it won't take the place of bitcoin completely. Over time we can see country's considering bitcoin's limited supply as a way to enrich the traditional fiat system that's been followed all around.

I appreciate your effort to give a more detailed explanation of what my comment cover on the surface, I understand that Bitcoin has high ability than fiat and that is why Bitcoin is a hedge against inflation even though Bitcoin operate within the same economy as other currencies that suffer massive inflation, the only difference is Bitcoin volatility.
The unstable nature of bitcoin is what has made Bitcoin of a higher class than other currencies and bitcoin can play as an alternative to any currency as long as the system adopts bitcoin and build the relevant gateway that will allow easy access to Bitcoin usage.

The whole '"legal tender" ordeal isn't actually relevant for Bitcoin. Legal tender, for all intents and purposes, just means the government has a stamp of approval on a currency which can be used for transactions. If you're issuing funds to the government or by order of government to another party, you can only use the currency regarded as "legal tender." For anything else, it's up to you and the other party what currency you use.

Of course, you don't actually need the government's permission to conduct commerce in free countries so whether Bitcoin's classified as legal tender or not is entirely irrelevant. Most transactions are private in nature and therefore the currency does not need to be legal tender.

Bitcoin will exist forever. Whether or not people use it the software will be there and be forever accessible. Fiat currencies exist in a transient state because governments are forever temporary. There is no guarantee that even the strongest currencies will, for certain, exist in the future because that would require with absolute certainty that the issuer will continue to operate.

Yes, Bitcoin is the future on money and even the central banks see this, which is why their cbdc is on the horizon.  As Bitcoin is decentralized, there is really no way to kill it unless we the people as a collective whole decide it is dead and don't use it or mine it- this isn't happening.

CBDC is an additional money control over all citizens funds. So making a competing system for Bitcoin is not the main purpose why central banks are starting to issue CBDC, it is much worse. If now a central bank needs go get info from commercial banks and organisations (control on a 2nd level) with CBDC it will have a direct control. And while CBDC is centralized it will have an option of doing anything with anybody's money.

That's why Bitcoin as an alternative is so important.

The whole perspective of Bitcoins was to make it a popular digital good. It wasn’t created to use as a currency. I mean Bitcoins are limited in number, and this makes Bitcoins valuable. So why the hell will someone trade with Bitcoins, when he have other options other than saving Bitcoins? According to me, if anyone wants to take full advantage of Bitcoins, then he shouldn’t giveaway or trade the Bitcoins too often. Just save it and when time comes definitely while selling you will make the maximum profit out of it.

Bitcoin is meant to be hold for long term in other to maximize the potential and if one have adequate knowledge of how the bitcoin market works, you will be in a better position all the time.
Bitcoin can only be used as a currency when the individual have no other alternative and most times, it will be a trance border transaction.
We have few companies who are making their transaction using bitcoin, that way. The transaction is more secured and fees are less compare to sending same amount using the bank.

That is because they consider Bitcoin as a trading currency, not a valuable thing that they have to hold long-term. They might think that trading is more profitable than just holding and selling during Bullrun. However, I don't mind if people will value and appreciate Bitcoin as currency because not all will understand the purpose of its creation. Some will consider this as an investment while some as currency but overall, we still make Bitcoin grow, yet in a different way.

Actually you're right to an extent, because many people in their sense of reasoning taught that it's only the cryptocurrency that it's value drops, not been known that fiat currency dropped in the value due to the economic determination of the country, because some certain countries their economy always drop or go higher because of dollars rates and especially All this African countries precisely.

Not everyone understand the idea behind bitcoin creation, even though bitcoin is also an alternative currency with asset value that outweighs the currency feature.
Paying for goods and services with bitcoin may be a no-go area to some of us since we are in for long-term purposes, but we still have some Bitcoin users who are in for the short term and will exchange their bitcoin as quickly as they could because they don't have confidence on the future of Bitcoin.
But all that could be attributed to a lack of knowledge, because when you have good knowledge of Bitcoin you will know that long-term gains outweigh its short-term gains.

I disagree with you, because Satoshi never created Bitcoin to replace fiat money than to reduced unemployment and eliminate delay in people transaction. I don't think, Bitcoin will be future of money, because Bitcoin is a decentralized currency that is not control by the government like the way government control fiat money in the time of inflation and deflation which their major power to do all those things is central bank. Bitcoin will remain decentralized currency to fulfill the purpose it was created by Satoshi for the whole world to enjoy.

Why not both though? I mean it could be something not to care about all that much if you do not want to hold long term, and it would lose you money to do that. If you really want to trade, keep on trading, but put aside a bit for bitcoin as well.

The biggest example of this could be switching from fiat oriented to bitcoin oriented. What this means is that when you are trading, the aim should not be having more dollars, it should be having more bitcoins and I have done it like that for a long time. I am not saying that it will be easy if you do it that way, but it would definitely be a thing that will take a bit of time for sure.

Many people give their own reasons why Bitcoin is created as point of view, so i believe that Bitcoin have a very good technology and the reason why it's created should be base knowns to Satoshi, so therefore i believe that Bitcoin have its tune. But if i should explain why Bitcoin is being created, from my point i will say that it's a decentralized currency that is made to work in accordance with Fiat currency to add more values and easier way of making money transfer from another continent to another so easy without passing much stress.

Bitcoin is the money of the future for me, I believe that in less than 10 years bitcoin will have a price close to 1 million dollars, and I am not exaggerating, because the same people will make the price reach that price, the whales and all the companies that have bought bitcoin have not done so in vain, they are clear that bitcoin is the future, buying at 16 thousand dollars is a bargain for what is to come in a few years, whoever believes that this is not the case, I think who then does not know much, fiat money will die? I don't know, maybe, but not Bitcoin, it will be the currency that will have the most money, more so because it doesn't depend on asking for permission from banks and governments.

I cannot say that Bitcoin is a feature of money because bitcoin is safe is your money but I did that money that you cannot see or you cannot control so Bitcoin I have it characteristics and it operation how it works not directly with money but they can convert it to turn to money whenever you feel like so that is why I said that this current work with a Fiat currency

Bitcoin will definitely affect the structure of currency with a decentralized attitude. Maybe its essence is not currency or technology, but a profit-seeking way to tell people that decentralization is the correct direction of the future process. Now It seems that many people will not believe it, but with the gradual popularization of the encryption industry and the gradual popularization of Bitcoin, it is more trustworthy and safe for people to accept decentralized operations. Fairness and transparency are rigid requirements. .

I don't think so. In my opinion, digital money is the future but I don't see it as a binary solution. Bitcoin, altcoins, bankcoins, stablecoins; all have a place in global economy. Some will be used strictly as store of value. Eventually, all currencies will be cryptographic, and even if you hate Bitcoin, you'll have to accept your pay in bankcoins or stablecoins. I am sure banks are already working on this technology as we speak I think, allowing bank customers the peace of mind knowing their money is insured while being able to instantly send that money to anyone anywhere. So I can see Bitcoin having a place in the future long term, but it is quickly evolving into a store of value and nothing more.

Bitcoin is absolutely the future of money. It might not be easily visible to consumers but it will absolutely take over as the dominant form of money.

Those of us who are able to wield its power at the base layer and second layer will be in a better position than those who rely entirely on custodians.

Those who use representative/derivative money will naturally be at the whims of those who dilute their money. With the growth of trustless models and joint custody arrangements like Unchained Capital, Casa, Nunchuck, and others to come, the inevitability is that bitcoin will take over because it will force the system to behave honestly.

For example, nobody voted to eliminate the phonebook. They simply stopped using them because the internet is so much more valuable. Bitcoin will be the same. People won't need to vote away bad money. They will simply stop using it because something better has come along.

It's also important to note that bitcoin is not likely to be adopted in parts of the world where the fiat currency is strong (USD, EUR, GBP, AUD, etc.) but rather it will happen from the bottom up in parts of the world where the money is historically weak and untrustworthy.

Bitcoin's price may be dumping but the actual VALUE of it and the infrastructure that is growing all around it is increasing.

Well, BTC definitely looks like it could reach those heights. It’s just a matter of time, I think and soon it can become a great alternative. There are already so many people interested in investing in BTC. It is also a great long term investment. Many beginners choose to begin their journeys by investing in bitcoin. So, yeah, there is hope.

Investment asset and money are not the same. Some shares can be good for investing but you'll hardly use them for paying for your coffee in a cafe. So when we talk about Bitcoin, it has different sides: you can use it for trading or investing but you can also use it as money, but as for its currency nature, it still has some known technical problems. For instance in El Salvador they use Lightning Network for solving some of those problems, but it is still layer two decision. I'm sure we'll see some new blockchain inventions which will solve all technical problems at the level one and Bitcoin will become a world popular currency besides being a good investment already. But as for now it is not yet.

Yes, Of course.According to Deutsche Bank, the current monetary system is fragile. Deutsche Bank predicts that  digital currencies will grow to more than 200 million users by 2030. In the Imagine 2030 report, Deutsche Bank hints that digital currencies could one day replace cash. , as the demand for anonymity and  more decentralized means of payment grows.
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  - When you say "Future Money" it means that all physical money or paper money is no longer needed. If this is true, when will it happen? Second, is it possible for this to happen? Third, has anyone here proven that Bitcoin is the future of money?

At this time, I don't see any reason for Bitcoin to become a future money, because in truth bitcoin at the moment can only be said to be an alternative way to be used as a digital currency that can be exchanged for Fiat currency. But, as real money not yet.

Then again, Nakamoto didn't say anything that he created Bitcoin to be exchanged for fiat currencies around the world. But he did this to provide an alternative way to conduct transactions through Blockchain technology to make it easier and easier for other people. And the number 1 thing that is affected by the creation of bitcoin is the banks in my view and opinion.

The introduction of Bitcoin brought about a totally new way of sending and receiving money which leads to companies been form to offer services for this new monetary system. This companies will need workers to help with the day to day affairs of the companies so in some way Bitcoin has affected the job industry by introducing more job into the economy of any nation that accept Bitcoin with open hands, the country mightn't necessary make Bitcoin a legal tender but give Bitcoin a welcoming environment and companies will flow into your nation.

Bitcoin has come a long way and achieved so much in the very little time it has exited, anyone thinking Bitcoin won't last long isn't living in reality as everything is going digital meaning soon fiat paper currency will be out of existence and money like Bitcoin with other centralized money will dominate.

Generally, Bitcoin opens some best opportunities that we ever found in fiat. However, we never appreciate it in its early days of existence, in fact, we ignore this technology until the moment that it boomed. But the situation seems not okay yet, many were still doubtful and even these big companies are not accepting Bitcoin as payment. We can say it was designed as a digital currency but in the overall market view, it was just considered by the majority as an investment. Of course, things can be changed in the future and we are looking for more adoption this could prove that Bitcoin is not a failure but a successful currency innovation.

Bitcoin was developed to provide us with an alternative to fiat currency, which almost always loses value. With Bitcoin, we can have complete control over our finances because we anticipate a constant rise in the price of the digital currency. The primary issue is lack of trust in Bitcoin, which is why those who do have faith in it believe it will fully and quickly recover.

We have an example of obsolescence of "physical money", Sweden implements (https://sweden.se/life/society/a-cashless-society) a philosophy of cashless society and many trade and service enterprises accept only cash as for now. About 87% of all purchases in the country were made online (even more in Norway, 92%) (https://ec.europa.eu/eurostat/statistics-explained/index.php?title=E-commerce_statistics_for_individuals#General_overview). So it is possible to refuse "physical money" at all in the future (I'm not standing for it, I'm just considering probability of this).

So why not to use Bitcoin instead of a bank card? NFC + smartphone + Bitcoin wallet can easily replace old payment system in the future when all problems with transaction fee and time and scalability will be solved.