Digital currencies to solve problems

[Huobi-USD]

Hey guys, what type of problems do you think the use of digital currencies could help to solve?

Check the following article:
http://bravenewcoin.com/news/de-banking-is-spreading-commonwealth-investigates-using-digital-currencies-to-solve-problems/

[Lauda]

We should actually be talking about cryptocurrencies else some might get confused. There are various things that it helps with. The first two that come in mind is sending money across the borders in a quick and cheap matter and the second are the people that can't sign a contract with a bank for whatever reason.
Update:

I really don't think digital currencies solve very many problems until we start discussing crytocurrency.

Bitcoin is a digital currency.

[recklessrager]

I really don't think digital currencies solve very many problems until we start discussing crytocurrency.

Digital currencies are basically electronic fiat (according to my understanding, correct me if I am wrong), and the biggest problem i see with them is centralization. With decentralized cryptocurrency, this is eliminated. No single entity controls the monetary system with a such a system. When compared to a system such as the USD which is based on nothing but debt, this starts to make a lot of sense.

[recklessrager]

We should actually be talking about cryptocurrencies else some might get confused. There are various things that it helps with. The first two that come in mind is sending money across the borders in a quick and cheap matter and the second are the people that can't sign a contract with a bank for whatever reason.
Update:

I really don't think digital currencies solve very many problems until we start discussing crytocurrency.

Bitcoin is a digital currency.

i am aware.
Like. Sharks are fish. But not all fish are sharks.

I should have clarified. Thanks

[Lauda]

nonsense

There is no Bitcoin 1.0 and certainly no Bitcoin 2.0. Stop spreading nonsense. Bitshares is pretty useless and I will never accept it because of the marketing fraud. No matter what features you think you have, no matter what you do, Bitshares was never and is never going to be Bitcoin 2.0.
Stop hijacking the thread with these posts.

[Kakmakr]

Hey guys, what type of problems do you think the use of digital currencies could help to solve?

Check the following article:
http://bravenewcoin.com/news/de-banking-is-spreading-commonwealth-investigates-using-digital-currencies-to-solve-problems/

Well for one thing, it would help with the government transparency in the whole procurement system. There are way too much corruption in governments around the world. They should place all government tenders and transactions on the Blockchain, for everyone to audit and monitor.

If someone acquired a tender, people who competed for that same tender, should validate that they were not the cheapest option and no money was paid for bribes.

[coinpr0n]

For me the solutions that cryptocurrencies first bring to mind are: Privacy, Remittances, Micro-payments and Machine-to-Machine Payments. Of course, there are so many other reasons to use cryptocurrencies too.

[RealBitcoin]

We should actually be talking about cryptocurrencies else some might get confused. There are various things that it helps with. The first two that come in mind is sending money across the borders in a quick and cheap matter and the second are the people that can't sign a contract with a bank for whatever reason.
Update:

I really don't think digital currencies solve very many problems until we start discussing crytocurrency.

Bitcoin is a digital currency.

Heck these mainstream guys cant make up their minds, once they say its a virtual currency, then a digital currency, then an internet currency, then a "libertarian ponzi scheme" ,etc.

It's funny to see those guys having no clue what they are talking about. Bitcoin is: virtual,digital and internet currency too. But so do the €,$ and so forth.

The correct category is crypto-currency! Because while fiat is printed madly, bitcoin is cryptographically secure and limited.

[OmegaStarScream]

It solves many issues and here is one of them :

[RealBitcoin]

It solves many issues and here is one of them :

Brilliant

That needs to be a meme, I totally see bitcoin becoming the main international transaction vehicle, replacing essentially the dollar

2025, and bitcoin could be a de-facto reserve currency of EARTH!

[chek2fire]

Ann Cairns say that bitcoin has nothing to solve and that mastercard is secure?! and a digital payment system!?

http://www.ibtimes.co.uk/mastercard-talks-tokenisation-bitcoin-biometrics-1522674

[Lauda]

Heck these mainstream guys cant make up their minds, once they say its a virtual currency, then a digital currency, then an internet currency, then a "libertarian ponzi scheme" ,etc.
Bitcoin is: virtual,digital and internet currency too.

This is partially correct and you did only make 1 mistake here. What often gets confused around this forum as well is virtual vs digital. Bitcoin is not a virtual currency, it is a digital one. Bitcoin is supposed to be used for many things (i.e. you can buy almost anything with it already).

"Virtual" can be defined as "not based in physical reality," and virtual currencies are those which are not intended for use in "real life," or for expenditures on real assets. Consequently, most virtual currencies can be found in online gaming and are subject to centralized authority, with the control of the money supply resting in the hands of the virtual world's developers. An example of a purely virtual currency is Amazon Coins.

Another example could be ingame currency (e.g. gold in WoW). This is why I'm supportive of the digital rather than virtual 'definition'.

[pooya87]

Hey guys, what type of problems do you think the use of digital currencies could help to solve?

i think cryptocurrencies as a whole are too young actually solve any issue in the world yet. but they all have a lot of potential if they get mature enough.
one of the best features is what OmegaStarScream mentioned above, and that is the cheapest transactions so far. anybody can send any amount they want to any person in any place of the world and as fast as possible while this is not possible with using current (fiat) methods. so cryptocurrencies can be a good solution for that.

[Mickeyb]

Hey guys, what type of problems do you think the use of digital currencies could help to solve?

Check the following article:
http://bravenewcoin.com/news/de-banking-is-spreading-commonwealth-investigates-using-digital-currencies-to-solve-problems/

check outside your window:

Bitcoin2.O is not about destroying Bitcoin1.O

Its about solving Bitcoin's problems.

You hate Mt Gox stealing your bitcoins while you are trading for BTC for USD/EUR/ETC? problem solved
You hate the long transaction times? problem solved
You hate Mastercard making fun of our scalability? problem solved
You want to be able to loan your crypto out and receive interest? problem solved
You hate price volatility?  problem solved
You hate blocksize debates? problem solved
You hate total coin inflation? problem solved
You hate begging people to develop your coin at their expense? problem solved
You hate DDOS attacks that don't pad your pocket? problem solved
You hate addresss you cant remember? problem solved
You hate not being able to obtain new keys for your current wallet? problem solved
You hate not being able to do multisig?
You hate not being able to do re-occuring transactions

any of this sinking in. my carpel tunnel hurts

BitShares is not looking to kill Bitcoin1.O

Bitcoin2.O is all about teaching the world that Blockchains are freedom (public blockchains that is), and freedom tastes delicious.

Yes, you really like to spam with your promotion of the Bitshares. I mean it's OK that you believe in the  project other than Bitcoin but you do understand that it becomes very counter-productive when you leave your posts about Bitshares in every part of the Bitcoin forum.

For God's sake you need to stop with this nonsense!

P.S. I am not trying to sound as an a**hole but I think that too much is a too much!

[RKing]

Ann Cairns say that bitcoin has nothing to solve and that mastercard is secure?! and a digital payment system!?

http://www.ibtimes.co.uk/mastercard-talks-tokenisation-bitcoin-biometrics-1522674

Bitcoin is more secure than Mastercard if you do not reveal your password. They all use cryptography technologies.

[Blawpaw]

Hey guys, what type of problems do you think the use of digital currencies could help to solve?

Check the following article:
http://bravenewcoin.com/news/de-banking-is-spreading-commonwealth-investigates-using-digital-currencies-to-solve-problems/

Great article. Digital currency has a wide range of applicability. It can be used to solve all sort of problems. As the blockchain technology gets to be more and more used, new issues will come that this new technology will help to solve.

[Betwrong]

Thanks for the link!

The article is mostly about arising problems with traditional money transfer and that's nice that governors of big banks considering "to investigate using new monetary technologies, such as bitcoin and other digital currencies".

I think words as below give some hope to BTC supporters.

"The use of digital currencies has increased substantially in the last 12 months, with little evidence thus far that this form of money transfer has been used for terrorist financing or money laundering." - Commonwealth Central Bank Governors Meeting report

 

[Brad Pitt]

Hey guys, what type of problems do you think the use of digital currencies could help to solve?

i think cryptocurrencies as a whole are too young actually solve any issue in the world yet. but they all have a lot of potential if they get mature enough.
one of the best features is what OmegaStarScream mentioned above, and that is the cheapest transactions so far. anybody can send any amount they want to any person in any place of the world and as fast as possible while this is not possible with using current (fiat) methods. so cryptocurrencies can be a good solution for that.

Bitcoin is still young in the grand scheme of things and will likely take many more years to grow into the mainstream as tech like the internet did, but bitcoin is not the only way to send money around the world. You can do that with many bank transfer services or even fiat and sometimes even for free.

[fuddudle]

Right now, Bitcoin's solves alot of problems for people who live in countries like China that restrict the outflow of money.

[oozecoin]

Right now, Bitcoin's solves alot of problems for people who live in countries like China that restrict the outflow of money.

As long as China continues to restrict Capital flows BTC will always have and be a major asset in China.