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Author Topic: Is Bitcoin Really The Future Of Money?  (Read 67927 times)
savioroshan
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January 20, 2017, 02:11:28 PM
 #621

If you think bitcoin is the future of money yes it can be. It has got a lot of potential to become the future of money. The main plus Point is its anonymous. Easy to handle, store and safe. thieves cannot stole it unless they have your bitcoin wallet password. Very easy to transfer the amount to any part of the world within seconds. no big processing fees like PayPal  and pretty long procedures like in bank. So convenient to handle. No one will know how much assets you own. So free of all taxes. Bitcoin has got all these plus points which can make it the future of currency. But if governments start banning it or regulating it then definitely it will become difficult for bitcoins to survive.

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January 20, 2017, 02:47:09 PM
 #622

I don't think that bitcoin the future of money.
But I consider it to be an investment into the future.
The limited nature of bitcoin and the possibility of nearly anonymous transaction makes it a wanted good.
To be seen as the future of money, bitcoin has too many flaws.

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January 20, 2017, 02:59:31 PM
 #623

Bitcoin has been one of the greatest discovery in the world and no doubt that it really helps the economic growth. Yes it is a future money but it will not replace the fiat as a legal tender because not all people nowadays are using bitcoin because you need internet to use it and other people don't have internet access.

   
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January 20, 2017, 03:10:11 PM
 #624

I look forward to the day where i can swipe to pay for goods at my local store with the bitcoin wallet in my phone.

The right time will come, let's be patient and wait for it. The development is continuing but if you are in a hurry, there is always a solution on your needs. Just fund a debit card with your bitcoin and you can swipe on your local stores, however there's a little fee associated with it.

That's what we are doing right now, in order to spend bitcoins we have to convert it to fiat currency (at least in my country) as there is not much awareness about bitcoin. The real potential is to transfer bitcoin from my wallet to the wallet of the shop. However, in my country lot's of things such as milk and bread are available at the price of bitcoin transaction fees so why would one use bitcoin in that case? I don't have an answer.
Theres already some adoptions with bitcoin i guess  we will be able to see more establishments that will allow bitcoin for payment here in our country we can  use it to pay our bills such as electric, water,phone, and other government fees just by using the local exchange to process the service.

In my country, a bitcoin company zebpay is looking to associate electric, water, telephone, DTH etc bill with the bitcoin. Trust me if they do this in next few months then we will see at least 5 million (that is less than 1% overall population of the country) new users using bitcoin. I can see a very clear and optimistic picture for the future in my country and also on global level.

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January 20, 2017, 03:11:00 PM
 #625

Bitcoin has been one of the greatest discovery in the world and no doubt that it really helps the economic growth. Yes it is a future money but it will not replace the fiat as a legal tender because not all people nowadays are using bitcoin because you need internet to use it and other people don't have internet access.
It is the best currency that world discovery but seems other country don't accept bitcoin why? Because they don't believed on bitcoin where they know bitcoin will be scam currency so soon they always choose fiat over bitcoin , investing using their banks now all people are using bitcoin not all people also don't have internet access to the website.


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January 20, 2017, 03:20:04 PM
 #626

Bitcoin has been one of the greatest discovery in the world and no doubt that it really helps the economic growth. Yes it is a future money but it will not replace the fiat as a legal tender because not all people nowadays are using bitcoin because you need internet to use it and other people don't have internet access.
It is the best currency that world discovery but seems other country don't accept bitcoin why? Because they don't believed on bitcoin where they know bitcoin will be scam currency so soon they always choose fiat over bitcoin , investing using their banks now all people are using bitcoin not all people also don't have internet access to the website.

Many countries and rural areas of developed countries dont have proper electricity access let alone internet access.

I know that bitcoin is a future currency but considering the fact that the government draws taxes from fiat transactions, and not from bitcoin, the latter transactions are bad for the country and the economy of the country. No taxes, No development in our country.

Nothing political but I still consider that bitcoin users should be taxed in some method and legally prosecuted if found to not pay proper taxation.

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January 20, 2017, 03:22:52 PM
 #627

I look forward to the day where i can swipe to pay for goods at my local store with the bitcoin wallet in my phone.

The right time will come, let's be patient and wait for it. The development is continuing but if you are in a hurry, there is always a solution on your needs. Just fund a debit card with your bitcoin and you can swipe on your local stores, however there's a little fee associated with it.

That's what we are doing right now, in order to spend bitcoins we have to convert it to fiat currency (at least in my country) as there is not much awareness about bitcoin. The real potential is to transfer bitcoin from my wallet to the wallet of the shop. However, in my country lot's of things such as milk and bread are available at the price of bitcoin transaction fees so why would one use bitcoin in that case? I don't have an answer.
Theres already some adoptions with bitcoin i guess  we will be able to see more establishments that will allow bitcoin for payment here in our country we can  use it to pay our bills such as electric, water,phone, and other government fees just by using the local exchange to process the service.

In my country, a bitcoin company zebpay is looking to associate electric, water, telephone, DTH etc bill with the bitcoin. Trust me if they do this in next few months then we will see at least 5 million (that is less than 1% overall population of the country) new users using bitcoin. I can see a very clear and optimistic picture for the future in my country and also on global level.
Amazing , That is my dream in my country to accepts bitcoin freely. That news will make a huge impact on your country and maybe other country will realize that bitcoin is good in a state/country.


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January 20, 2017, 03:36:11 PM
 #628

I don't think that bitcoin the future of money.
But I consider it to be an investment into the future.
The limited nature of bitcoin and the possibility of nearly anonymous transaction makes it a wanted good.
To be seen as the future of money, bitcoin has too many flaws.
The point is that Bitcoin is a revolution and it has already set the precedence for the future of money. In the event that it did not make it in the future, certainly whichever that does, would be an offshoot of bitcoin. The global monetary system is still batting to come to terms with this dark horse, something that can't ignore even if they wanted to. It is already goodbye to the ways we used to see and think of money and this is just the beginning.

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January 20, 2017, 03:49:15 PM
 #629

Bitcoin is completely deviated to many countries even small countries are actively using bitcoin in their daily life, but most of the people are still in dilemma whether shift to bitcoin. But bitcoin is going to be the future currency once governments are making it as one of the asset.

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January 20, 2017, 05:01:04 PM
 #630

The bitcoin not sure, but the technology behind it can be the future of payments systems at least. Let's hope

The advantage of Bitcoins is especially in the fact that international transfers are without delay and at less cost. However,
the Central Bank European warned against the perverse effects of a currency outside the system with no legal tender.

if Bitcoin can be a very profitable investment, it remains a highly speculative investment.people are quite unable to predict the fate of the Bitcoin experience,
as it is innovative and unique, so it is highly recommended that you only invest what you can afford to lose.
If you have, it's better to spend them than to keep them in mind make a deal

In old times people were trading, then come paper money, then come cheques, then come, credit/debt cards and the next can be cryptocuurencies


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January 20, 2017, 05:08:06 PM
 #631

Bitcoin has been one of the greatest discovery in the world and no doubt that it really helps the economic growth. Yes it is a future money but it will not replace the fiat as a legal tender because not all people nowadays are using bitcoin because you need internet to use it and other people don't have internet access.
It is the best currency that world discovery but seems other country don't accept bitcoin why? Because they don't believed on bitcoin where they know bitcoin will be scam currency so soon they always choose fiat over bitcoin , investing using their banks now all people are using bitcoin not all people also don't have internet access to the website.

Many countries and rural areas of developed countries dont have proper electricity access let alone internet access.

I know that bitcoin is a future currency but considering the fact that the government draws taxes from fiat transactions, and not from bitcoin, the latter transactions are bad for the country and the economy of the country. No taxes, No development in our country.

Nothing political but I still consider that bitcoin users should be taxed in some method and legally prosecuted if found to not pay proper taxation

Are you some government official (just curious)?

The problem is that you can't just take and tax Bitcoin. You can set tax traps at the ins and outs of the system but you can't tax the system itself and you can't ban Bitcoin either since you can't forbid what you can't prevent. And now you are suggesting to prosecute Bitcoin users. What do you think the latter will think of you and your suggestion? I don't mean you personally, of course, but you are basically thinking along the same way that many governments are most likely thinking

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January 21, 2017, 08:53:45 AM
 #632

Bitcoin has been proclaimed dead 89 times. It has been labeled a Ponzi scheme and a failed experiment. Writers have argued for it to be forgotten and for developers to move on to greener pastures. But moving beyond this rhetoric, it’s not all that difficult to compare the rise of bitcoin to that of another technology: the World Wide Web. http://blockgeeks.com/questions/what-is-your-future-predictions-of-bitcoin/#comment-604
yess it is the future ..well u saw the price of bitcoins has incresed to a next level .well it would be no surprise if the price of bitcoins increase  to 800dollars per bitcoinss. well i hope i get my salary as bitcoins because it has high future .and i am looking forward to it. kudoos Smiley

I agree with you... Because the rate of Bitcoin keep increasing all day...becoming more valuable
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January 21, 2017, 11:09:02 AM
 #633

Bitcoin indeed showing a good performance for the past years in terms of its value, but i doubt that it will be the future money because until now, there are countries that does not accept bitcoin and many people are still not aware of the existence of bitcoin.


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KennyR
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January 21, 2017, 12:47:38 PM
 #634

Bitcoin indeed showing a good performance for the past years in terms of its value, but i doubt that it will be the future money because until now, there are countries that does not accept bitcoin and many people are still not aware of the existence of bitcoin.

From its early days bitcoin have been getting more popularity within few years time. Later on it got more and more users, which lead it to the consideration as a currency which has got only the digital form. Though several countries oppose bitcoin it have gained a name as world money as its accepted worldwide.


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January 21, 2017, 01:23:35 PM
 #635

Bitcoin indeed showing a good performance for the past years in terms of its value, but i doubt that it will be the future money because until now, there are countries that does not accept bitcoin and many people are still not aware of the existence of bitcoin.
Bitcoin isn't the furure of money, but the good thing is that there isn't any priority in becoming exactly that. Bitcoin is a multifunctional tool that people can use in many ways.

The only thing sure is that Bitcoin is just an alternative for people that look to transact in a different manner, store money in a different manner, achieve financial freedom, and the list goes on.

Regardless of how Bitcoin is being called, best thing is that Bitcoin shapes itself to how you want to use it. Name isn't important.

If you consider Bitcoin to be money, then it's money. If it's an investment tool, then it's an investment tool..... I could continue with listing up things but you get the idea. People have the freedom to choose. Smiley

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January 21, 2017, 02:55:08 PM
 #636

Yes, I think bitcoin really the future of money, because it's more valuable than any currency,even if we compare gold with bitcoin, bitcoin is better.
As we saw, bitcoin price rise to 1100$ which it's a great PIC  this year.
And now bitcoin price is stable on 850-950$ whish is awesome too.
Maybe in few years, bitcoin price rise more and more to the next 1k$, I mean 2000$.
Nowadays, Many peoples trust cryptocurrancy and especially bitcoin. It's a large community.So, i think no one can say bitcoin is'nt the future of money.

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January 21, 2017, 03:03:54 PM
 #637

Yes, I think bitcoin really the future of money, because it's more valuable than any currency,even if we compare gold with bitcoin, bitcoin is better.
As we saw, bitcoin price rise to 1100$ which it's a great PIC  this year.
And now bitcoin price is stable on 850-950$ whish is awesome too.
Maybe in few years, bitcoin price rise more and more to the next 1k$, I mean 2000$.
Nowadays, Many peoples trust cryptocurrancy and especially bitcoin. It's a large community.So, i think no one can say bitcoin is'nt the future of money.
In disagreeing to you , Bitcoin I think is not the future currency, Its true that bitcoin price is really amazing amd many has started to use bitcoin because of its price. But it doesnt mean that bitcoin is our future currency, There is a possibility of banning of bitcoin in every state that can cause the fadjng of bitcoin . Lets just hope that banning of bitcoin on country wont happen.


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in
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January 21, 2017, 03:10:21 PM
 #638

Bitcoin indeed showing a good performance for the past years in terms of its value, but i doubt that it will be the future money because until now, there are countries that does not accept bitcoin and many people are still not aware of the existence of bitcoin.
Bitcoin isn't the furure of money, but the good thing is that there isn't any priority in becoming exactly that. Bitcoin is a multifunctional tool that people can use in many ways.

The only thing sure is that Bitcoin is just an alternative for people that look to transact in a different manner, store money in a different manner, achieve financial freedom, and the list goes on.

Regardless of how Bitcoin is being called, best thing is that Bitcoin shapes itself to how you want to use it. Name isn't important.

If you consider Bitcoin to be money, then it's money. If it's an investment tool, then it's an investment tool..... I could continue with listing up things but you get the idea. People have the freedom to choose. Smiley
I am answering to your first point that if from now it is being used instead of dollar in online world and suppose if it get the value that people everywhere will replace dollar with bitcoin then is not it a type of currency is not it a future of currency. It is. Now people need the type of currency which have that features and they do not care for any other currency if bitcoin will fulfill all of these needs.

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January 21, 2017, 03:18:57 PM
 #639

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Are you some government official (just curious)?
No im just a student.

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The problem is that you can't just take and tax Bitcoin. You can set tax traps at the ins and outs of the system but you can't tax the system itself and you can't ban Bitcoin either since you can't forbid what you can't prevent.
Any method to tax the users is okay by me - the main point is that we must tax the users in some way or the other - otherwise where will the revenue to run the state come from if bitcoin is used in large scale in place of fiat.

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And now you are suggesting to prosecute Bitcoin users.
Yes, its my choice Grin Grin

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What do you think the latter will think of you and your suggestion? I don't mean you personally, of course, but you are basically thinking along the same way that many governments are most likely thinking
Not bragging but my city is where the least number of bitcoin users are present - most of use there just love the fiat. No offence but I cant stand the fact that some people are thinking of evading taxation by using bitcoin - its detrimental to development of a country - which in case of my country is already very poor compared to 1st world countries.

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January 21, 2017, 06:47:39 PM
 #640

Yes, Brother. Bitcoin is the future of money. Cause BTC price is increasing day by day. In future, BTC price will be the hight price in online currency. For that, BTC is the future of money.


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