Never BTC can become the future of money, I think they are a bit complicated and risky so fiat is still the main currency and has the highest liquidity.
I think saying that BTC can never become the future money is a bit harsh. Certainly it cannot replace FIAT right now because it is still extremely volatile thus, will not work to be paid in it for the work you perform. If you think of the mean of payment mankind used along the centuries from basic exchange of goods, silver/gold coins, bank notes to the credit cards of today, do you remember how skeptical people were when the credit cards were introduced? I remember it quite well, everyone was paranoid that the computers will be stealing their money and it will be the end of the world.... Do you think having a credit card with bitcoin on it would be such a big leap from the current approach? I think not. IMO i cannot see it happening either, not with a currency which has a limited supply and which at the moment is expanding its supply but when fully mined the availability will shrink. I cannot see any government accepting something which is decentralised in place of an alternative which they can control. Also I fear bitcoin will become less like a currency and more of a commodity as its value rises over time. |
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Its about selling news and it has come to the stage where good journalism
is very much watered down by terrible reporting.
There are far more people who either done know a lot or love to hate bitcoin
so any sort of news real of false will sell.
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Its a matter of perspective, and those perspectives will change with time.
"Time" we have to realise is a very key factor in what we are looking at and
interested in.
For me I got into crypto when Bitcoins price was $1000 so from my perspective
todays price is very rewarding. SO this time next year or in 2020 the perspective
will change for those who today are disgruntled about crypto.
I personally believe that the majority of coins/tokens or whatever you want
to call them will not progress as much as people hope they will. Bitcoin and
some established alts will continue to move forward and that is where I
suggest we should focus on not some very minor coin which gets pumped
one by 6000% and then is forgotten after its man purpose has been achieved,
To be Pumped.
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Anything is possible, the price can go to $20k by the end of the year for sure
but it could easily stay bouncing between $7k and $8k and not only for the
end of the year but beyond.
Anything can happen and nobody can predict what will happen and if they do
its luck and coincidence IMO.
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I dont think there is any one thing which is vest for bitcoin. It can deal with
whatever people want from it and it is constantly morphing in response to
How people use it.
If it becomes more stable there could very well be more adoption which
could lead to volatility again.
If the price goes higher and higher there could be increased trading and
speculation leading to bigger swings in value.
Anyway just my opinions and its really hard to know whats best and
there is varying opinions and expectations.
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I think this is in a bid to usher in mainstream adoption, but many argue that it's a problem of regulation
Not really, Bitcoin adoption has been growing (slowly) over the past few years without needing any ETF. The only positive thing that the ETF could do for Bitcoin is to allow an influx of fresh capital from institutional investors, it doesn't mean that if it gets approved Bitcoin will suddenly go mainstream. Merchants want security and also something that is legit, and I think regulations will further add more legitimacy to Bitcoin making merchants adopt a new payment method like Bitcoin. We also need people to trust Bitcoin (regulations can also help with that), they need to realize that they can be their own bank, no more centralized bullshit. Correct, as if miraculously bitcoin was going to be adopted by all and sundry if ETF was going to be accepted. Regulations can only affect the entry and exit points of bitcoin and crypto but the currency itself cannot be regulated. More adoption will come as more and more people realise what butcoin can offer but it will be slow. Im not sure i want bitcoin to be mainstream, can it be mainstream with a limited supply? What definition would people put on MAINSTREAM? |
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This is what we are experiencing in this curreny industrial revolution.
The factors combining to bring this revolution are Blockchain, Artificial Intelligence,
Internet of things, Quantum computing and 3D printing among other things, so yes
it will happen.
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I am officially offering this original artwork for sale
The price will be 0.0369BTC
Delivery anywhere worldwide will be made by courier at the following costs:
U.K & Ireland - EUR20
Mainland Europe - EUR35
U.S - USD63
Australia - AUD104 Please bear in mind that this is a heavy piece, and more robust than canvas. What you get:
The one off artwork with my preliminary notes and sketches all signed.  |
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Generally speaking bitcoins rise in FIAT value has changed it from a predominantly
traded currency to a commodity and something to hold.
How has this happened? By people spending it, by people adopting it, like the person
who bought the pizza for 10,000BTC, there was no concept of holding not so long ago.
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I also think merchant adoption will add fuel to the fire so to speak, but it
will be a gradual thing. I cannot see a block of merchants accepting BTC
payments in the very near future, it could take years because i think the
market volatility is not favourable to merchants.
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So this project is 99% completed. The only tasks left to do is to add my signature and apply a layer of varnish to protect the surface. I have really enjoyed the experience and learned some new techniques which I can apply to further pieces. The aim of the project was to create something which someone would appreciate and reward me for the effort and in return acquire something uniquely BTC related, So with a touch of apprehension and or reservation this piece is now for sale. I will also be including my notes and preparation sketches with this. I just have to work out the finer details of whether to use escrow, postage and packaging, etc.   |
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I too have a small coin collection which started about 30 years ago when a family friend gave me their box of coins. Coin collecting and Numismatics is in decline, at least that is the sentiment I have read on one of the other forums. There seems to be a noticeable drop off in the number of young people getting interested in the hobby. I dont think this is to do with bitcoin and crypto because FIAT currency is moving towards a digital space for a good number of years. Really since in my country have stopped being paid in cash for the last 20 years and more so in the last 10 being paid electronically. There are still many physical crypto Coins and tokens which are collectable, just look in this section of the forum for inspiration where there is a constant trade of coins > https://bitcointalk.org/index.php?board=217.0 |
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So here are the results of todays addition. I am hoping to get this finished tomorrow, adding more RED, some special details and varnish for the grand finale.   |
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I wouldnt suggest either bitcoin or ethereum I would actually suggest both!
Both technologies offer useability, they actually do something which is proven.
I would create an imbalance in the two, heavier on the Bitcoin side.
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FIAT currency cannot be replaced fully by bitcoin and crypto because it offers society
a chance to progress through debt. Bitcoin cannot create a debt system like FIAT.
Everyone wants to progress in life whether they want to be self employed or want to
work for someone else. This puts certain demands on a persons financial situation
by way of food, clothing, education, transport and housing.
Everyone speculates to try and progress and we speculate with other peoples money
which the banks issue as loans. As we progress we are able to repay those loans and
avail of more and so on and so on.
Of course it goes wrong sometimes but that is a seperate discussion but Bitcoin cannot
offer this system i just explained so i am happy to use the fiat system for one aspect
of my financial life but bitcoin is truly a seperate part of my life
At first I thought you were talking about the government being able to pay the nation's debts by printing more fiat. So I thought yeah, bitcoin can't do that since we can't just create more bitcoins out of thin air or simply print it. It has to be mined or bought. But your point went on about progression in a person's life and you started talking about loan. In issuing loans, the blockchain system surely doesn't have that. But fiat system doesn't have that to. It's the banks that issues the loans, not the system of fiat itself. It's not in its nature as both bitcoin and fiat are just mediums for transacting. In fiat, there's an institution that offers the loan (not fiat system itself) which is the bank. We can have the same thing with bitcoin. We can have an institution that grants loans as well and it's probably going to be banks again. It's just a different currency. I think that the major issue that these rural population face is not really not having an internet connection at all. They are underbanked, or unbanked, due to their physical distances from banks. Bitcoin can really be of help here, in fact, by offering a way for them to save and transact with the rest of the world.
I don't think that's true at all. I live in a rather isolated province, rural area, and we still have multiple banks in here. There are also small scale banks that offers loans. In case of sending money, there are multiple ways that you can transfer money to another person now. Even small general stores are offering this service as it can easily be done with a phone and the phone doesn't have to connect to the Internet. Also that begs the question, "Will the person he's transacting to is using bitcoin?" which begs the question "Will he be able to use it to do transactions with other people?" At the end of the day, the bitcoin has to be converted into fiat so we can use it to buy something. We're just still not at that point that goods can be bought using cryptocurrency, there's just not enough users. I was really making the point that people have debt, and have that in the only currency available which it is offered in, FIAT. and yes it is issued by banks. IMO Bitcoin or any agent like a bank cannot ATM offer bitcoin loans because of its volatility and decentralised nature. The thread title is about not getting rid of FIAT and I agree because I dont want to have a Bitcoin loan I want it to be a payment system as well as a long term investment of sorts as it was designed to do and what it has sort of become. Let Bitcoin do its thing but let FIAT do and be something different |
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What a great and creative idea. Love the arcade above and after visiting the website I am thinking of getting one of the delorian ones. Will send a PM later.  |
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FIAT currency cannot be replaced fully by bitcoin and crypto because it offers society
a chance to progress through debt. Bitcoin cannot create a debt system like FIAT.
Everyone wants to progress in life whether they want to be self employed or want to
work for someone else. This puts certain demands on a persons financial situation
by way of food, clothing, education, transport and housing.
Everyone speculates to try and progress and we speculate with other peoples money
which the banks issue as loans. As we progress we are able to repay those loans and
avail of more and so on and so on.
Of course it goes wrong sometimes but that is a seperate discussion but Bitcoin cannot
offer this system i just explained so i am happy to use the fiat system for one aspect
of my financial life but bitcoin is truly a seperate part of my life
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in order of importance of "value"
1. The utility of the currency, and how easy it is to use and store.
2. Energy put in in the form of electricity to secure the blockchain.
3. Blockchain difficulty level.
4. Limited Supply and supply/demand.
5. Innovation.
6. Perceptions on its value by the public.
7. Price of Bitcoin.
8. Media.
9. Investors.
10. Market dilution.
11. Confidence in traditional systems.
12. Legal/Governmental issues.
i say this because. my dog only goes to the toilet 2 times a day. and as it gets older it will become less.. in its life it will only do 4000 doggy bags of mess.. so scarcity/limited supply is 4000 bags,,,, now would that make you want to buy it for more than $2m a bag.. no?
thats because you dont know and have no USE for it once you have it.
next even if you know that my dog can easily do 2 bags of dogsmess a day, it will be mor difficult for my dog to go toilet as it gets older.. will that make it more or less value? no?
well thats because you still dont know what to do with it after and the cost to create the doggy bag of mess was just a bowl of dogfood hours earlier befor digestion.. so its not worth $2mill even if you know it cant just poop on demand when required, and know it will get harder to produce
but if it cost $2m to create and there was no other way to create it for less.. and it had utility. that nothing else could rival.. then you would buy it because it does something and you know you can get your money back because someone else will find it useful.
now thats the underlying value..
lets say thats the $5.8k bottomline of the last 10 months.. the bit ontop that is volatile that makes the PRICE go from $5801-$19-500 is th speculative bubblle of points 5-12
Coming into this thread i thought 'yes its also demand which means value, supply is only half of the picture' but franky1's post has opened my eyes, there are other factors which combine to create value I had not considered UTILITY to be as big a factor than it truly is. Bitcoin and a few other coins have proven to date that they offer a real world useage or solution and therefore have value because of the combination of factors above. |
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Just amazed about the situation of bitcoin nowadays, despite of the decreasing price of cryptocurrencies still more countries are now ready to adopt bitcoin.
a "country" is not adopting bitcoin, unless they throw away their fiat and use bitcoin as their national currency which is not happening. what is happening though is that people are adopting bitcoin because it is useful and then the country regulates its usage to prevent chaos and illegal activities. and people aren't adopting bitcoin because of its price, they are adopting it because of its utility. the "price guys" are speculators that come and go, they don't shape the long term. Could it be really possibly eliminate the middlemen? Please share your opinions.
yes of course! when you use bitcoin you are doing exactly that. but it is not killing the middlemen like banks for example because again banks are providing utilities and because of that they are still used. It is hard to see bitcoin replacing "the middleman" which are the banks. It would mean a total overhaul in the world financial system, i just cannot see it. Even from a society point of view, how would anyone access financial support if there were no banks to issue loans for education, transport and housing? How do we change the trust that we put in banks? If i want to send my kids to college this year and i dont have the finances to do it there is the option to get a bank loan but there is no bitcoin bank. Society wants to progress and the FIAT banking system is interwoven into this idea. The vast majority of people are happy to follow this system and dont realise there is a system which offers an alternative to part of that system while we here in this space have chosen to remove some of the trust from the FIAT system. No country has adopted bitcoin as a currency to date while a few have recognised it as something which can be used as a payment system by a small percentage of their population (for now) |
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For many years, there are has been several misconceptions and negative speculations surrounding the world of crypto, you might have noticed that bitcoin always come up top despite these negative speculations.
The year 2018 has not been different, bitcoin has endured up to this time. There are has been several ups and downs especially concerning the price. The changes in the price were largely caused by negative news such as those in the media circles. In spite of all these problems, bitcoin has seen the light of day as the biggest digital currency in the world. As the year enters the third quarter, all crypto enthusiasts can only hope for the best.
To answer the question of the thread title. YES bitcoin has survived everything as in all the negative and false news and manipulation that was aimed at it and as long as there are believers in the tech and what it offers it will continue to survive future attacks. Ultimately we dont care what financial experts, government officials or banks think about bitcoin although positivity is always welcome. |
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