I would like to know if cryptocurrency will replace fiat money in the future, also if so how long it will likely take. Also, I would like to know which coin you think would take over if one will. (E.G. Dogecoin, BTG, LTC, XMR)
Hmm, I think no, cryptocurrency will not replace any fiat money. It is because there are factors that makes fiat money a fiat money. These fiat money are national currencies, and when you look to the words mentioned, "NATIONAL currencies". It means that a country hold their own currencies or group of countries. I think the only way for a cryptocurrency to be a national currency is when a new country is formed or a country that is using other currencies wants to have a reform. |
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So Bitcoin's market dominance in the cryptocurrency world is currently at the lowest level ever with 36.1% of the total value.
In my opinion, it's because the interest in alternative coins is rising rapidly for one, but you also have to consider how much of the bitcoin world is criminal. Seriously, for the first 5-8 years, the digital currency was mainly used as a means for criminals to launder money and sell illegal goods on the dark market. Think of all the massive hacks in the early days also, and all those darknet markets that disappeared with huge amounts of bitcoin.
Literally millions and millions of the 16 million coins out there would be owned by criminals. And now with bitcoin becoming more centralized and less anonymous, they are swiftly exiting the market and looking for alternative dark coins.
I also personally avoid using bitcoin all-together because of the extremely slow transaction speeds and high cost's associated with it.
The bitcoin mining business is dust, so that interest will die quickly.
I just don't see a very bright future for the god of cryptocurrency and it will surely be surpassed by one of its rivals soon enough.
I'm torn between predicting it to be Dash, or Ethereum, and I recon it could be about 2 years before that happens.
Would love to know peoples thoughts on the future of bitcoin.
Where will bitcoin be in
2 weeks?
2 months?
2 years?
Will it be surpassed by another coin? If so, which one and when?
Hmm, we aren't really sure what will happen on the next days/months/years, but yeah, maybe someday another coin can surpass bitcoin. It is because bitcoin is not really a good coin in transactions for the reason that it requires high transaction fees that is why some investors uses another coin like etherium or other altcoins. But I think bitcoin will regain its price when the holidays season start because that is where bitcoin users sell their coins to buy things like what happen last year where it reaches its all time high. |
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A lot of posts are about bitcoin (eg bitcoin for illegal transactions ... bitcoins change lives ... bitcoin destroys the world ... bitcoin poison and so on) but basically it's all humans that move .. bitcoin is the tool. Good bad how the tool is how the man who runs. is it worth blaming bitcoin. What is your opinion?
Bitcoin is not the one to blame if anything happens, you must blame the person or the user. Yes, it is like driving a vehicle. In driving a vehicle, you cannot blame the vehicle whether its turns left or turns right, accelerate leave decelerate because you are the one who is controlling it. Just like on bitcoin, do not blame on the aftermath of using bitcoin if it is bad because you actually enjoys it when it is good to you. |
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I can clearly see that there are other cryptocurrencies that are beginning to dethrone bitcoin, showing off there quick and secured transactions, though bitcoin continues to be the king. What does bitcoin need to improve state your opinions.
There are many rooms for improvement for bitcoin for it not to be dethrone by other cryptocurrency available in the market today. Primarily, I think they should make the transactions faster because the transaction is not that fast. Also, I think the fees in transactions should be reduced so that people can do more transactions not being worried on high fees. |
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Bitcoin is indeed risky. But bank investments are risky too. In our country (coz I'm not sure if this exist in other countries). When you have a large amount on your account they will call you and ask you if you want to invest, minimum of 20,000 Php (or 400 USD). They will propose some investment plans where there is a choice of low, medium, or high risk investment. When you choose the high risk there is a chance to lose or gain 100% of your investment (Medium is 75% and low is 50% if I remember it right). It doesn't make sense to me, it sounds like a scam, they will invest using your money and you don't have any control to it. That is why I like bitcoin more, coz Though it is risky and it's very volatile, you have full control on your investment.
What do you guys think?
Obviously, bitcoin is more risky. In banks, those who you have mentioned are just optional and you actually have the full control to invest or not. Also, if you invest, I think they need to fulfill what they have promised you because you have the contract papers which will be your evidence of it is a scam. Compare to bitcoin, as you have said, is very volatile. You can lose a lot of money because of its volatility and if you are engaging in short term trading and you are not that careful, you might will also end up losing. |
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Many countries think that Bitcoin is harmful for their country. They think that Bitcoin will create inflation in their country. But is that right? Will Bitcoin never get all the legitimacy?
Hmm I think no, bitcoin wouldn't be legitimate in all countries. It is I don't think bitcoin will even reach all countries considering their economy. But I think in all the countries it reached, it might be legitimate to all of these countries. It is because nowadays, there are businesses that do not want to be competing with bitcoin that is why they are stopping it, but the functions and benefits of bitcoin will make the people curious and eventually crave for it. |
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...compared to say u.s. dollar bills which you can hold in your hand or stuff in your mattress.
this is why bitcoins will not go mainstream because majority of human beings on this planet do not have access to a computer.
successful gold standards are things like toyota trucks, ak-47's, u.s. c-notes which thrive in places like afghanistan and africa.
Hmm, I think you misunderstood why bitcoin is existing. Bitcoin was invented to be a decentralized currency through block chain technology. It was never meant for bitcoin to be mainstream used. Even though it is just us who are more knowledgeable about technology and have the tools to do it, it is okay as long as techy people are using it. Good thing, bitcoin is now are used by even ordinary people. |
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I think this happening is a good news or a boost for cryptocurrency users. All of us knows how popular Samsung is because of their good smart phones. I think this will lessen the negativities about bitcoin a little bit. They now join the experimentation know blockchain technology like what IBM, Deloitte, and Microsoft done. |
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I saw a thread earlier asking about Philippine based or targeted coins, and there have been a few attempts at a country coin. Is this really something that we are interested in?
The purposes for others was for remittances, for general investing, for bills payments and banking, for OFWs, for rewards, for points.
Would we like something similar to Bitcoin ATMs where you can buy and sell on a machine?
Do we want a free airdrop? Or an ICO? Or a mixture of both? (Bounties of course will be available.)
Discuss.
Isa kasi sa mga problema sa ganitong uri ng mga plano o proyekto ay ang mentalidad ng gagawa-mga gumagawa. Iniisip kasi nila kaagad ang kanilang mapapakinabangan bago yung mismong proyekto. Tsaka hindi pa ganung katunog ang mga ganitong bagay sa nakararaming Pilipino pero kung sakaling itutuloy talaga, susuportahan ko ito. Tayo-tayo lang din naman ang susuporta dito sa kadahilanang tayo lang ang kadalasang nakakaalam nito. |
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If people buy Bitcoin at $8,000, they will get 100% profit only when Bitcoin reaches $16,000. If it takes 5 years to reach $16,000, people will earn more money from Gold and Silver than from Bitcoin. Silver is giving 20% to 35% profit in one year.
Mining cost of one Bitcoin is $5,000 or more. When Bitcoin was $400 or $800 it was understandable because people had to just spend $400 or $800 to get one Bitcoin and $1,200 is super high profits when Bitcoin started from $1.
Maybe it is because of what bitcoin can bring. Yes, the primary reason or purpose of those people who invest on bitcoin on why they invest is to earn money, but they are also after on the different functions of bitcoin or what it can do. They are also after on the store value of bitcoin, on how it can be used in transactions smoothly or its convenience, to name some. |
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Hey everyone, I was wondering how most people here receive their bitcoins? I personally handle in virtual items in video games. (CS:GO, DOTA 2, PUBG) I sell these items on a marketplace and receive BTC for them I also join a online casino now and then to try and make some easy BTC! Do you guys just invest in bitcoins and not touch them? I personally use mine on a daily base for purchases / trading etc.. Let me know i'm interested!  Tom / YakingI do get my bitcoin in campaigns. In these campaigns, I usually engage or join with signature campaigns where I must do a certain number of posts and abide the specific rules given by the campaign manager. I do not do investing, trading, and mining because I do not have the enough money yet for me to do those activities but if given the opportunity, why not? |
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-I think It is popular. many people accept and trade in Bitcoin because It is recognized and accepted as a currency by many.
-Bitcoin is decentralized and limited. This is a major factor for many Bitcoin users. Bitcoin is hard for governments to trace and tax
-Bitcoin acts like an equity investment. The market value of Bitcoins has had wild swings in value and even a market cap.
-Bitcoin is a social network. The Bitcoin "community" is active and acts like other online social networks.
-There are only 21 million bits so it has the same value as gold.
I think the reason why bitcoin gain High value is because of its functions or the things it can bring on the table. People discover how useful bitcoin is that is why it gain so much demand and like what we know, anything that has a demand has a value. It is also linked to the number of supply. Investments also makes it have a high price. |
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I like taxi. I think this is a good idea. I hope in my city also accept bitcoin. because everyday I use taxi.
Hmm, I think it is really indeed a good idea for taxis to accept bitcoin as payment. It is because at least bitcoin users can pay when they didn't have enough paper money. I think it is a good idea also because at least countries are trying to adapt to modern advancements step by step. A small step like this will lead them to a good future, a more technological advance future. |
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Whoahh, what a good news! At least they have cope up with the advancements of technology like with other countries like with Japan. I think the adding factor that makes them also a cryptocurrency friendly country is also because of their economy. Being a developed country makes them easily adapt to advancements and in vice versa developing and third world countries are having difficulties in the adaptation to these advancements. |
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In recent times, some new ICO companies have been kidding about Bitcoin on Twitter, Facebook for their ICO promotion. I think this promotion way is very negative for Bitcoin. They showed that Bitcoin will be destroyed and their token will become number one. They have presented it in such a way that the price of Bitcoin will not rise anymore. I think this type of promotion is very negative in the market.
Well, I think those kinds of commercial or advertisements are normal specially because they need to promote their business that is why they need to do that even though it is unethical. We do not have the power to restrain then be cause that's what other businesses do. The only way that we can fight against these type of commercials is to make Aldo bitcoin commercials but I don't think we need them, online ads is enough. Let bitcoin speak for itself. |
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Obviously, the regulation of different countries with regards to the use of bitcoin has an effect to it specially because that is the nature of bitcoin. We all know how the price of bitcoin increases and decreases and we also know it depends on the number of investors and how much they are investing. If the rate of investments decreases, then definitely the price will go down. |
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Why, until now, government all over the world still doesn't trust bitcoin?
It is because bitcoin is a stranger to them. They do not know it, making them not trusting it. Also, there are many frauds that are using the name of bitcoin in their selfish plans like what happens in our country where a couple use the name of bitcoin. They tell their clients that they will earn the triple of their investments in bitcoin. But again, it is a scam. These frauds make the government afraid of bitcoin. |
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In the G20,approval of the Bitcoin is 15 countries,more than the half,
in this view,we still have the faith in Bitcoin,
at the moment,maybe someone said the death of Bitcoin is in the China,because the China is the only one who makes Bitcoin illegal,
So,the death of the bitcoin will come ture ?
what is your predict about the future of the bitcoin?
First of all, bitcoin will never end. It is quite impossible for someone to destroy bitcoin because it is hard to destroy like the internet. Regarding to your statement, it isn't because China banned bitcoin then it is the end of bitcoin. It doesn't mean that whenever the value of bitcoin decreases, someone will raise the idea of ending of bitcoin. I think bitcoin will flourish, just wait. |
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I have seen many news about banks banning bitcoin from using. But I think bitcoin is a great technology and future assets, and its a great opportunity for banks also to use bitcoin as a contribution. My question is why does they ban it rather than use bitcoin ?
I think banks hate bitcoin for the reason that they see bitcoin as a competitor rather than its original purpose which is to be a helper. Nowadays, people are understanding how helpful bitcoin is because of what it can do and many people are engaging in bitcoin business. Banks do not want bitcoin to interfere the minds of people on where to invest that is why they hate bitcoin. |
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I found this expression on the news channel about the crypto currency: "Anyone who will try to buy coffee for cash in 2023, runs the risk of causing laughter from the seller, that he does not use crypto currency."
how do you think, is it realistic? Can a crypto currency replace national money?
I think that it's possible, but it will take more time.
I think they do not need to replace each other and like what is happening in the present, they can coexist. It is because both two are important to people's live and their country as a whole. National currency cannot be removed because it is even a factor in the economy and it is very difficult to remove it. Cryptocurrency is a new currency but it doesn't mean that it will replace the traditional currencies. |
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