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Author Topic: Is Bitcoin Really The Future Of Money?  (Read 67921 times)
Maslate
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December 31, 2016, 02:25:16 AM
 #421

in the future bitcoin will be used more as a currency but it will never replace "money" or fiat as we know it. because that would mean replacing the centralized, government controlled fiat which is not possible at all.

Most countries everything is getting digitalized as well trying to implement their own fiat in digital form. This is the only way to make a centralized digital currency. So bitcoin is considered as a base and countries involve in making their own digital currency with the same technology rather than using bitcoin officially.
Some countries are already using a digital currency even before the existence of bitcoin, what makes bitcoin very popular nowadays is not only because of it's digital form but more on the decentralized factor. As a user, we see this as unique think compared to others, and we feel we love to transact without someone watching over us. Being anonymous only is the greatest security we could ever ask.


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December 31, 2016, 02:39:40 AM
 #422

Bitcoin as only having 21 mil coins, can't be used as a major currency, but it is the defacto gold in the cyberspace. It is deflationary, and will increase in value when more people get used to it.
How does it having 21m coins make it unable to be the standard currency? If too many decimals is impractical we can always use mBTC or smaller.
after all, when most people in the world have adopted a bitcoin, then 21 million coins will be relatively small right ?
yeah there are smaller units of mbtc
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December 31, 2016, 02:40:09 AM
 #423

You better bet your bottom dollar it is.
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December 31, 2016, 12:14:36 PM
 #424

Bitcoin as only having 21 mil coins, can't be used as a major currency, but it is the defacto gold in the cyberspace. It is deflationary, and will increase in value when more people get used to it.
How does it having 21m coins make it unable to be the standard currency? If too many decimals is impractical we can always use mBTC or smaller.

That's right bitcoin can be used proportional to its users and it is already happening today. Even though it has a 21 million limit of supply that is even better, why? Because it cannot reproduce so the coins that are moving in the market is going to be good enough and its value will increase but also the whales are there that will do something to make the coins volume lesser.

Indeed it's something that could give us a great advantage in the bitcoin. For if we look at all the things that exist in the bitcoin, that everything is concerned about the economy and also the law of economics that is highly supportive of the growth of the bitcoin become larger and will definitely make us a profit. We see from the number of the population of all of the people there are in the world is greater than the amount the BTC supplies already set, so if in the future the user bitcoin over 90% of the existing population of this world then all will be the heyday of bitcoin
 

Even it is not going to reach 90%, maybe just 50% of the total of world's population that is already enough to make bitcoin as the future money. Because of that percentage of people, it is already good to encourage the remaining people who are still not using bitcoin. And when it happened, the majority is going to be followed regarding its usage of bitcoin.

In my view, these figures are greatly exaggerated. Many countries, or maybe even most have less than 50 million people of population, which doesn't even make 1% of the total world population. And if Bitcoin reaches that number of people actively using Bitcoin on a regular basis, that will be a huge success, anyway. Just think that it will amount to a mid-sized country such as Italy or Spain using only Bitcoin as their official money.


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December 31, 2016, 04:01:46 PM
 #425

I strongly believe, that bitcoin is money in the future
bitcoin can be used in all places and all countries, I think it will make people feel comfortable using it. bitcoin might be used as currency in the future so that it could make all the transactions become easier.

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December 31, 2016, 04:33:58 PM
 #426

I strongly believe, that bitcoin is money in the future
bitcoin can be used in all places and all countries, I think it will make people feel comfortable using it. bitcoin might be used as currency in the future so that it could make all the transactions become easier.
the new generation is really interested in crypto currency, they are taking interest in online shopping and business,  on other side bitcoin is the topmost crypto currency of the world, therefore people will trust on bitcoin to use it for online shopping and trading.
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December 31, 2016, 04:52:42 PM
 #427

I strongly believe, that bitcoin is money in the future
bitcoin can be used in all places and all countries, I think it will make people feel comfortable using it. bitcoin might be used as currency in the future so that it could make all the transactions become easier.

It can probably make the transactions more comfortable for people around the world, but it is not likely to happen as there are governments in the world and i don't think they would accept something like this, but they would rather try to make their own digital currencies if they want any change in world's monetary system.


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December 31, 2016, 05:15:52 PM
 #428

The fact says that bitcoin value has increase and reach highest point , it means that more people trust on bitcoin
When more people use bitcoin, they make bitcoin become valuable and will be use as legal transaction such like money ( as we know bitcoin still risky currency at the moment )

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December 31, 2016, 05:36:55 PM
 #429

In my opinion bitcoin as we know it is not exactly the future of money, but a good approximation of what emerging technologies can do to modify the foundations of the current economy and drive a change in the financial paradigms. And this is undoubtedly setting a benchmark for the need  to experiment with new ideas to ensure a sustainable economy in the long term.


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December 31, 2016, 05:43:47 PM
 #430

I strongly believe, that bitcoin is money in the future
bitcoin can be used in all places and all countries, I think it will make people feel comfortable using it. bitcoin might be used as currency in the future so that it could make all the transactions become easier.

It can probably make the transactions more comfortable for people around the world, but it is not likely to happen as there are governments in the world and i don't think they would accept something like this, but they would rather try to make their own digital currencies if they want any change in world's monetary system.

But why would they want to make their own digital currencies if they already have the US dollar and payment processors like SWIFT, MasterCard, Visa, and PayPal? Or do you mean that they could establish their own version of Bitcoin between themselves with their central banks mining government bitcoins? This idea looks a bit outlandish, in my opinion. Roll Eyes


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December 31, 2016, 09:52:05 PM
 #431

I strongly believe, that bitcoin is money in the future
bitcoin can be used in all places and all countries, I think it will make people feel comfortable using it. bitcoin might be used as currency in the future so that it could make all the transactions become easier.

It can probably make the transactions more comfortable for people around the world, but it is not likely to happen as there are governments in the world and i don't think they would accept something like this, but they would rather try to make their own digital currencies if they want any change in world's monetary system.

But why would they want to make their own digital currencies if they already have the US dollar and payment processors like SWIFT, MasterCard, Visa, and PayPal? Or do you mean that they could establish their own version of Bitcoin between themselves with their central banks mining government bitcoins? This idea looks a bit outlandish, in my opinion. Roll Eyes
Every government making their own digital currency is a good joke in itself and it is not possible to do so and no government would dare to shift the focus of their economic system just like that,it is a possibility if you are planning to start a new country with a very low population  Grin a country with only digital assets would be a cool idea.



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January 01, 2017, 02:37:27 AM
 #432

Yes bitcoins are non reversible and we can set the fees as per the urgency of confirmation needed and hence they can be use widely just sometimes confirmations are slow moreover we still are not accepted at big sites.
With that system bitcoin has, it does not fit to what government like in our online transaction, they want to control things to ensure that we are doing it in compliance with the law. Bitcoin is only the future money of crypto currencies enthusiast but in general, it is not effective to implement it for the benefit of all. Legal tender is what people need as our trust in our government is still bigger compared to our trust with bitcoin network.



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January 01, 2017, 03:16:19 AM
 #433

Yes bitcoins are non reversible and we can set the fees as per the urgency of confirmation needed and hence they can be use widely just sometimes confirmations are slow moreover we still are not accepted at big sites.
With that system bitcoin has, it does not fit to what government like in our online transaction, they want to control things to ensure that we are doing it in compliance with the law. Bitcoin is only the future money of crypto currencies enthusiast but in general, it is not effective to implement it for the benefit of all. Legal tender is what people need as our trust in our government is still bigger compared to our trust with bitcoin network.

The Government won't be too unhappy with Bitcoin, because it leaves a trail. It might not be controllable, but in case of any wrongdoing, the blockchain is a permanent, immutable record.


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January 01, 2017, 04:01:48 AM
 #434

bitcoin is all the hope in the future. bitcoin will become a means of payment in the future that will be used by many people. system technology in the future will make bitcoin as a major currency.

  

 
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January 01, 2017, 04:51:12 AM
 #435

bitcoin is all the hope in the future. bitcoin will become a means of payment in the future that will be used by many people. system technology in the future will make bitcoin as a major currency.

I think it is the future money for the world. It's a gift to the world by Satoshi Nakamoto; that's what I think. It's better compared to using PayPal, Banks, etc. There are no need for middleman just peer to peer transactions. It saves the time for sending money even across around the world; it doesn't require a large fee for transactions also.



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January 01, 2017, 05:01:23 AM
 #436

bitcoin is all the hope in the future. bitcoin will become a means of payment in the future that will be used by many people. system technology in the future will make bitcoin as a major currency.
Well, I also felt that it would happen. bitcoin is a very powerful technology to date, especially if the government accepts it. if bitcoin developed into a very advanced technology, I believe, can be made bitcoin money for the future. but I guess that will also change the economic system, because I feel bitcoin does not provide benefits for the government for now.

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January 01, 2017, 07:28:43 AM
 #437

Bitcoin will not take over all the money/fiat, but as it is now it is a type of money, and it will become more and more popular. I suspect central banks will create their own cybercurrency, so bitcoin will not be the only future money.
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January 01, 2017, 07:59:53 AM
 #438

If the world stay as it is and there's no technology that will discover to replace Bitcoin,it's very likely that Bitcoin is the future so far bitcoin is doing perfectly to serve it's holders and it's merchants


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January 01, 2017, 12:37:50 PM
 #439

Yes bitcoins are non reversible and we can set the fees as per the urgency of confirmation needed and hence they can be use widely just sometimes confirmations are slow moreover we still are not accepted at big sites.
With that system bitcoin has, it does not fit to what government like in our online transaction, they want to control things to ensure that we are doing it in compliance with the law. Bitcoin is only the future money of crypto currencies enthusiast but in general, it is not effective to implement it for the benefit of all. Legal tender is what people need as our trust in our government is still bigger compared to our trust with bitcoin network.

The Government won't be too unhappy with Bitcoin, because it leaves a trail. It might not be controllable, but in case of any wrongdoing, the blockchain is a permanent, immutable record.
the government will have to accept the importance of bitcoin, they have to respect the people interest and have to provide facilities to the people and bitcoin is really providing online buying and selling facilities to the people.

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January 01, 2017, 12:42:47 PM
 #440

Yes bitcoins are non reversible and we can set the fees as per the urgency of confirmation needed and hence they can be use widely just sometimes confirmations are slow moreover we still are not accepted at big sites.
With that system bitcoin has, it does not fit to what government like in our online transaction, they want to control things to ensure that we are doing it in compliance with the law. Bitcoin is only the future money of crypto currencies enthusiast but in general, it is not effective to implement it for the benefit of all. Legal tender is what people need as our trust in our government is still bigger compared to our trust with bitcoin network.

The Government won't be too unhappy with Bitcoin, because it leaves a trail. It might not be controllable, but in case of any wrongdoing, the blockchain is a permanent, immutable record.
the government will have to accept the importance of bitcoin, they have to respect the people interest and have to provide facilities to the people and bitcoin is really providing online buying and selling facilities to the people.

I don't think that any government will accept Bitcoin officially.
First, they have to work according to international financial laws and regulations.
World financial institutions know that Bitcoin is decentralized and can't be regulated or controlled.
Because of it, they will never officially accept Bitcoin.
Because of this, it's not possible that any single government officially recognize Bitcoin.
Bitcoin will remain as alternative, virtual way of payments but merchants, which accepts bitcoin, will have to transfer all results from bitcoin to ''hard currency'' accepted by authorities.
 
















 

 

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