Next generation money

[deisik]

There is a new & cheap hardware wallet now out (Opendime) that are similar to physical bitcoins.  They are cheap USB sticks that are cleverly designed BTC wallets.  These are meant to be passed around once you have loaded BTC onto them, when the device is passed to someone else (as payment or a gift), that transfer is like cash, an "offline" transaction.  The Opendime sticks are cheap & disposable, it is hard to describe in just a few words so I refer you to here:

https://opendime.com/

I have ordered three to check them out.  It's an interesting idea.  They also have their own thread at "Project Development

How do they work conceptually? I mean that thing with private-public keys transfers provided there is no Internet around...

Let's call it a massively offline mode

[CrimBit]

Did Bitcoin is revolutionize the concept of money, because for people who understand the world of trading that could be used to revolutionize the concept of the financial us.

[Dudeperfect]

Yes no doubt in that. Crypto currency as a technology is emerging as a new form of money and has potential to compete with fiat currencies all over the world but it won’t be threat to the existence of fiat currencies. Gold, oil or other commodities are different than crypto currencies although those are one of the popular investment destinations I don’t see them as equal to crypto currencies. Trading in exchange of gold or other commodities is like trading with barter system but bitcoin is other than that as it has significant similarities with the concept of money.

[OROBTC]

There is a new & cheap hardware wallet now out (Opendime) that are similar to physical bitcoins.  They are cheap USB sticks that are cleverly designed BTC wallets.  These are meant to be passed around once you have loaded BTC onto them, when the device is passed to someone else (as payment or a gift), that transfer is like cash, an "offline" transaction.  The Opendime sticks are cheap & disposable, it is hard to describe in just a few words so I refer you to here:

https://opendime.com/

I have ordered three to check them out.  It's an interesting idea.  They also have their own thread at "Project Development

How do they work conceptually? I mean that thing with private-public keys transfers provided there is no Internet around...

Let's call it a massively offline mode

deisik

I'll have to wait until I get them and try them out before I can really comment further.  I need to see if it actually really is as easy to use as they claim.  It certainly looks like a great idea though.

That offline mode (nice description, well put, H/T) is part of the attraction. 

Opendime seems to have a niche to themselves (at least for now).

[deisik]

I'll have to wait until I get them and try them out before I can really comment further.  I need to see if it actually really is as easy to use as they claim.  It certainly looks like a great idea though.

That offline mode (nice description, well put, H/T) is part of the attraction. 

Opendime seems to have a niche to themselves (at least for now).

Okay, let's wait till you lay your hands on these thingies

[vero]

They rare going to make a new form of money in the future and I believe that everything is going to be digital which is both positive and negative at the same time.
I hope that they are not going to rush things because I do not think we are ready for such a big change.

I think this blockchain technology is the starting point and with the advent of bitcoin, shall we say 20 years from now or less more improvement on the system and more bugs is fixed and more problems is addressed. Its a good start, slowly but surely we are getting there into the future.

With almost all transactions being digital then bitcoin may be the next generation money. With the advancement of technology and the bitcoin gaining popularity then people may opt to use digital money in the future since fiat currency is losing its value. For now, there are still so many people not aware of it but as time pass by, maybe a major event that will happen and made bitcoin popular even for those people that are not into technology and just stick to the old ways and it may convince them to use bitcoin then may be change has really come during this time.

Unlike Bitcoin, fiat can also be used in offline transactions (as paper money and specie). This is a great advantage, and unless Bitcoin somehow solves this "last mile problem", it will continue to remain inferior to fiat (in this respect). And even the theoretical possibility of resolving this issue is vague...

Since it would contradict the very concept of blockchain (I mean offline transactions)

That is right. Fiat cash is also anonymous. It can be a good tool in underground transaction without being detected.

for me fiat is not anonymous enough, besides that i think that using bitcoins might have way less fees thats why i use bitcoins over all the other money

so your life depends on the Internet, due the most you're using bitcoin than fiat and I think for the moment we can not buy anything with bitcoin.

[moonya]

With gold and gold began to finish. If the world will continue to exist and move in the direction in which it moves today is undoubtedly the future of digital money. But if the world is waiting for the collapse and we will go back to the Stone Age, then as always, people will use the currency, which can be seen or touched.

[KingdomHearts]

In my opinion bitcoin didn't revolutionize the concept of money, it just eases the way people earn online and eases online transactions.

but i think its possible that bitcoin revolutionize the concept of money because bitcoin is really too powerful and stronger currency than other currencies.

[zodin]

i am hopeful that the next generation money is bitcoin as the new generation has their interest in computer and internet, as they spent most of their time in front of computer therefore they will give preference to digital currency instead of fiat or paper currency, i think that will be too much convenient to them therefore they will give preference to bitcoin,

[useless4]

They rare going to make a new form of money in the future and I believe that everything is going to be digital which is both positive and negative at the same time.
I hope that they are not going to rush things because I do not think we are ready for such a big change.

I think this blockchain technology is the starting point and with the advent of bitcoin, shall we say 20 years from now or less more improvement on the system and more bugs is fixed and more problems is addressed. Its a good start, slowly but surely we are getting there into the future.

With almost all transactions being digital then bitcoin may be the next generation money. With the advancement of technology and the bitcoin gaining popularity then people may opt to use digital money in the future since fiat currency is losing its value. For now, there are still so many people not aware of it but as time pass by, maybe a major event that will happen and made bitcoin popular even for those people that are not into technology and just stick to the old ways and it may convince them to use bitcoin then may be change has really come during this time.

Unlike Bitcoin, fiat can also be used in offline transactions (as paper money and specie). This is a great advantage, and unless Bitcoin somehow solves this "last mile problem", it will continue to remain inferior to fiat (in this respect). And even the theoretical possibility of resolving this issue is vague...

Since it would contradict the very concept of blockchain (I mean offline transactions)

That is right. Fiat cash is also anonymous. It can be a good tool in underground transaction without being detected.

for me fiat is not anonymous enough, besides that i think that using bitcoins might have way less fees thats why i use bitcoins over all the other money

i dont need a lot of anonymity too, i think that bitcoins will definitely be the next generation money and it will be really huge currency in the future

[Zaducis]

i dont need a lot of anonymity too, i think that bitcoins will definitely be the next generation money and it will be really huge currency in the future

The main problem with the bitcoin is that it is mainly traded in the exchanges. The exchanges are not safe.

[deisik]

i dont need a lot of anonymity too, i think that bitcoins will definitely be the next generation money and it will be really huge currency in the future

The main problem with the bitcoin is that it is mainly traded in the exchanges. The exchanges are not safe.

I had been proposing it long ago to extend Bitcoin to include a kind of distributed exchange in it. But people seem to still prefer losing huge monies at these single points of failure...

Would 65 million dollars, recently stolen from Bitfinex as bitcoins, not be enough to implement such a feature?

[ASHLIUSZ]

i dont need a lot of anonymity too, i think that bitcoins will definitely be the next generation money and it will be really huge currency in the future

The main problem with the bitcoin is that it is mainly traded in the exchanges. The exchanges are not safe.

yeah having public source code is great and it does reduce risks, but the point was that it's certainly not enough to believe the software as safe.

[Sanguintan]

i dont need a lot of anonymity too, i think that bitcoins will definitely be the next generation money and it will be really huge currency in the future

The main problem with the bitcoin is that it is mainly traded in the exchanges. The exchanges are not safe.

yeah having public source code is great and it does reduce risks, but the point was that it's certainly not enough to believe the software as safe.

I think it is better to hold the bitcoins yourself. So you should hold the coins in your own core wallets.

[Zooplus]

i dont need a lot of anonymity too, i think that bitcoins will definitely be the next generation money and it will be really huge currency in the future

The main problem with the bitcoin is that it is mainly traded in the exchanges. The exchanges are not safe.

yeah having public source code is great and it does reduce risks, but the point was that it's certainly not enough to believe the software as safe.

I think it is better to hold the bitcoins yourself. So you should hold the coins in your own core wallets.

Yes, you should do hold your bitcoins because I believe that it will be the next generation of money, when the world will fully digital bitcoin should be the one we are using as it already gain the trust of the people, and the longer the system are being used it make it stable that people would trust and would eventually make the price stable as well.

[sanas]

i dont need a lot of anonymity too, i think that bitcoins will definitely be the next generation money and it will be really huge currency in the future

The main problem with the bitcoin is that it is mainly traded in the exchanges. The exchanges are not safe.

yeah having public source code is great and it does reduce risks, but the point was that it's certainly not enough to believe the software as safe.

I think it is better to hold the bitcoins yourself. So you should hold the coins in your own core wallets.

I do some mining, send the altcoins to exchanges, then I convert them to bitcoin and withdraw soon.

[davis196]

The total majority of Bitcoin holders think of their favorite toy as the next step in the evolution of money (less so for active users). I don't deny the technological innovation in respect to the blockchain and the decentralized nature of how new money is created through mining. With that said, I still don't think that Bitcoin did actually revolutionize the concept of money itself. Gold as money existed long before fiat, and it was "created" in a decentralized way too, so nothing particularly new here as well...

I have an idea what could be an entirely new form of money (actually, it is not my idea), but first I would like to hear from you, guys (and gals), what you think about the truly new money that is yet to be invented or implemented

I think that there`s no need to revolutionize or invent brand new money.

Bitcoin is the future and it`s working great.

Why don`t you share your idea?

 

[deisik]

The total majority of Bitcoin holders think of their favorite toy as the next step in the evolution of money (less so for active users). I don't deny the technological innovation in respect to the blockchain and the decentralized nature of how new money is created through mining. With that said, I still don't think that Bitcoin did actually revolutionize the concept of money itself. Gold as money existed long before fiat, and it was "created" in a decentralized way too, so nothing particularly new here as well...

I have an idea what could be an entirely new form of money (actually, it is not my idea), but first I would like to hear from you, guys (and gals), what you think about the truly new money that is yet to be invented or implemented

I think that there`s no need to revolutionize or invent brand new money.

Bitcoin is the future and it`s working great.

Why don`t you share your idea?

No one seems to be particularly interested. Since it is not my idea either, I expected that someone would come up with that idea on their own

[Zaducis]

The total majority of Bitcoin holders think of their favorite toy as the next step in the evolution of money (less so for active users). I don't deny the technological innovation in respect to the blockchain and the decentralized nature of how new money is created through mining. With that said, I still don't think that Bitcoin did actually revolutionize the concept of money itself. Gold as money existed long before fiat, and it was "created" in a decentralized way too, so nothing particularly new here as well...

I have an idea what could be an entirely new form of money (actually, it is not my idea), but first I would like to hear from you, guys (and gals), what you think about the truly new money that is yet to be invented or implemented

I think that there`s no need to revolutionize or invent brand new money.

Bitcoin is the future and it`s working great.

Why don`t you share your idea?

 

The bitcoin will be developed in the future, it will evolve and adapt to the new environment so it is the future money.

[deisik]

The total majority of Bitcoin holders think of their favorite toy as the next step in the evolution of money (less so for active users). I don't deny the technological innovation in respect to the blockchain and the decentralized nature of how new money is created through mining. With that said, I still don't think that Bitcoin did actually revolutionize the concept of money itself. Gold as money existed long before fiat, and it was "created" in a decentralized way too, so nothing particularly new here as well...

I have an idea what could be an entirely new form of money (actually, it is not my idea), but first I would like to hear from you, guys (and gals), what you think about the truly new money that is yet to be invented or implemented

I think that there`s no need to revolutionize or invent brand new money.

Bitcoin is the future and it`s working great.

Why don`t you share your idea?

The bitcoin will be developed in the future, it will evolve and adapt to the new environment so it is the future money.

We don't know what changes the society will undergo in the future. As I have said previously, exactly this defines what nexgen money will look like. I guess no one in the 13th century could even fancy that we would be universally using paper as money in the 21st one. Well, at least in Europe since China seems to have been using paper money as back as in the 7th century...

Just for voicing this idea, you would be most certainly declared an heretic and burned alive in some corners