POP QUIZ: Do you believe that BTC is the world's future money system?

[cjmoles]

Not the way it's going!  If Bitcoin doesn't change as quickly as our technology is changing, it doesn't even have a chance.  However, the technology and the reasoning behind the project will definitely produce a major alternative cryptographic digital decentralized currency that will be used world wide and I don't care whose emperor disagrees with that fact.  It wont be Bitcoin that controls the market....it will be Bitcoin's cousin, no doubt.

[FabioDelcatto]

For me it is a YES. But I it will be very difficult becauase alot of people still don't understand about BTC.

But I hope one day will happend.

[Sir_lagsalot]

No, as it won't be an official international currency that everyone will use, but I believe it will become widely known and used, like PayPal. Except better. Way better.

It is already the major cryptocurrency and I believe it will stay that way until someone develops a "better" coin. This can be achieved as bitcoin is basically a code that is encrypted with some cool encryption and an awesome idea. If someone comes up with a better economic idea and even cooler encryption, say bye to Bitcoin.


Bitcoin also needs to change to adapt to new ASCIS and technology. But with no Satoshi to lead us, bitcoin will stay the same.

[Vaoric]

Yes I believe it will. Because I am new and I am interesten to buy some BTC.

Only to wait later in the future that it goes higher. But I am also amaze how cheap it is to send BTC to other country.

[richardsNY]

I think Bitcoin can and will be a great alternative to fiat currency. Which it basically is already. For me there is no reason for Bitcoin to replace any kind of fiat currency. It will succeed anyway.

[LarryHocks]

I say yes but it will probably be years for even a quarter of the population to adapt to btc

don't think this will happen any time soon

it'll be nice to see this happen 

[NewInCryptoCurrency]

Well yeah I hope so it will be nice if I go to my work and get BTC xD

It will be awesome I think if that happends.

[StevenLiang]

I think Bitcoin can and will be a great alternative to fiat currency. Which it basically is already. For me there is no reason for Bitcoin to replace any kind of fiat currency. It will succeed anyway.

The idea of bitcoin itself is for digital currency which decentralized and open source, not for replace any kind of fiat currency.

It's too far away to say bitcoin can replace any of local currencies / fiat currency / be the world future money system.

[kyrios_]

Honestly the deflationary aspect of bitcoin is untested. Assuming your currency is deflating, won't one just wait until the price is cheaper before making a purchase? This incentives people to hoard rather than use it as a currency. 

[kaselit]

UPDATE

[Snorek]

I don't know if Bitcoin will the one and only cryptocurrency of the future but I know for sure that someday we will switch to fully digital forms of payment, and even more.
We won't see this probably during our lifetime as I can see behind the scenes of world bank, but it is meant to happen. FIAT will fall and Bitcoin will be there to take over.

[xdrpx]

I really can't say, but to be honest I feel it's no probably cause it'd take a lot of countries to accept Bitcoin without having legal doubts and taxation uncertainties. Bitcoin started as an experiment and has grown far from it initially was and I believe it'll be a good asset to invest in for a long term, similar to what gold is today or probably better as time goes by. It would involve a lot of turnaround for it to be substituted completely to a countries fiat currency.

[italianobitcoin]

I really can't say, but to be honest I feel it's no probably cause it'd take a lot of countries to accept Bitcoin without having legal doubts and taxation uncertainties. Bitcoin started as an experiment and has grown far from it initially was and I believe it'll be a good asset to invest in for a long term, similar to what gold is today or probably better as time goes by. It would involve a lot of turnaround for it to be substituted completely to a countries fiat currency.

You're right, I don't think the bitcoin will be accepted worldwide, hell it's not even accepted right now in Russia

Even if this does happen, it will take year and years, I'll probably be dead by then

[kyrios_]

I think Bitcoin can and will be a great alternative to fiat currency. Which it basically is already. For me there is no reason for Bitcoin to replace any kind of fiat currency. It will succeed anyway.

The idea of bitcoin itself is for digital currency which decentralized and open source, not for replace any kind of fiat currency.

It's too far away to say bitcoin can replace any of local currencies / fiat currency / be the world future money system.

I agree with you. I think Bitcoin will coexist side by side normal currencies. Although it is still hard to imagine government actually allowing Bitcoin to mainstream. Unregulated nature of it can cause some issues.

[d5000]

I agree with you. I think Bitcoin will coexist side by side normal currencies. Although it is still hard to imagine government actually allowing Bitcoin to mainstream. Unregulated nature of it can cause some issues.

I would like to go a bit deeper.

Bitcoin is essentially a descentralized trust system. What does it mean if I pay a Bitcoin to you? It means that I'm giving you a digitally-signed letter that says: "I am trusting you that you give me a product or service which, for me, has the same value as the actual price of a Bitcoin."

It isn't so much a currency, because a currency is meant to be a stable indicator of prices and for this reason it is backed by a state or another large entity.

But based on the Bitcoin/cryptocurrency system, a large part of the financial instruments needed by the economy can "go descentralized", because they are all needing this "trust" component Bitcoin provides. In many aspects this is much more efficient that the traditional banking system. Digital payments and savings accounts - basically, what Bitcoin Core provides you - are only a little part of the possible uses. Systems like the Bitcoin extension Counterparty, or "altcoins" like Nxt, Bitshares or Ethereum allow you to use cryptocurrency for other financial instruments like loans, stocks / assets, crowdfunding, and distinct types of financial contracts.

So for me it's a matter of time that these descentralized financial instruments increase the market share in the financial world. I don't know if it will replace it, but I am pretty sure cryptocurrencies will play a major role in 5-10 years, and it is useless that governments take action against it (they should even embrace it, if not autocratic).

It is possible, however, that in 30-50 years cryptocurrencies will be obsolete again.

[HeroCat]

It will be a long way for BTC to be the world's future money system. Banks did not implemented BTC in their paying system yet 

[elyas772]

i would say no

because lot of country do not accept bitcoin for part of the currency even in some countries use bitcoin is illegal

I agree with you. a few terrorist and corruptor make bitcoin as payment for their activity. due for that, bitcoin never be legality in universal world because bitcoin properties that can be used for money laundry which causes bitcoin is not easy to be tracked.

so I think BTC isn't really used as the world's future money system

i want to ask
how much terrorist and corruptor make bitcoin as payment for their activity compared with they are using fiat money? (cash money) ?

[mouneshwar123]

Yes for sure. But no government will accept bitcoin as it is now. The governments will want some kind of control measure over the digital currency. Or else the governments will create a digital currency of its own.

[LuckyYOU]

Technically, bitcoin is already a money system, as you call it

You can buy and pay for stuff already by using bitcoin

I'm hoping for it to become more known and commercial so that we get more demand

[n2004al]

I'll say YES, bitcoin has I the need to be "future money system".

Sometimes it is funny to read various post made here in bitcointalk. Like the above quoted by me. Absolutely not for him's English. I know that me myself am problematic sometimes to be understood with my English. Even not in the above level I think (I hope). But if the meaning of the above post would be "bitcoin has the need to be "future money system" and for this the poster write with capital letters a big "YES" I would want to ask him one simple "Why"? Why bitcoin has the need to be the future money system? Can you you give some argument about this your big affirmation with the big and capital letters?

You say yes with capital letters. Where do you find and base this conviction? What I don't know and you know that make you so secure in your conviction? Can you show that what your know here?

Please make post with meaning. It is not hard to put some words and to create a sentence. It is hard to give something that can make the readers to think or to encourage them to write something else affected by your posts. Bitcointalk need the lasts ones.