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Author Topic: Is Bitcoin Really The Future Of Money?  (Read 67927 times)
Xester
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January 25, 2017, 11:51:45 AM
 #721

I share opinion the most of the members claim here that fiat must be replaced sometime but I don't think this will be such quickly. First of all knowledge should be increased in this sphere in order to avoid next "revolution" in finances.
That is correct. If people do not have knowledge, they can not fully understand how Bitcoin work. Therefore, we need to hold some campaign which increase people knowledge and information about Bitcoin. BItcoin should be taught in school and college so that students will lead a country to success in using Bitcoin
Many people are doing campaign in their local area already, like daily they are doing some conferences to get awareness about bitcoin. Some people don't have complete belief on bitcoin because the price of bitcoin is unpredictable. Many people are showing interest to learn about bitcoin but some people don't have any knowledge about internet also, so we need train them how to use internet firstly.
Lack of knowledge regarding on internet would really be the big problem to lessen the process of bitcoins adoption because if people wont know about internet they wont never know about bitcoin since they dont have any idea on it. Bitcoin would really be a good cryptocurrency in the future but i dont think it would be a main currency.

Aside from people who have no knowledge on the internet there are just people who are fixed on using fiat currency that they wont join bitcoin since they have huge market and are earning. Bitcoin is very volatile and its one of the reasons why they are afraid and disinterested on using  bitcoin. My friends are also like that they said that if bitcoin has a stable price then possibly they will engage on it.

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January 25, 2017, 12:05:05 PM
 #722

Yes It will be. Because,
  • More stability
  • More trust from institutional investors
  • More organic growth
  • Less manipulation
  • Less volatility
  • More distribution of liquidity outside of China
  • Higher probability for financial instruments approval
I must say all the points you highlighted are strong points Bitcoin can put forward any day as a favorite contender of the future of money, however I do not buy the idea of your 5th point. Bitcoin cannot be said to be a less volatile currency. Only recently, we were trading at about $1150 per Bitcoin, it came down to $752 and now trading at over $900, how else can volatility be described?

That aside, strong volatility is not a disadvantage, it in essence is showing high liquidity and which is what creates the enabling environment for demand and supply to compete effectively leaving us with a reasonable for Bitcoin.
yes i agree with you , i think volatility of bitcoin is good for trader. I think bitcoin is apropriate as future of money . Because we can do something that we can't do with paper money such as fast world wide transaction.
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January 25, 2017, 01:38:15 PM
 #723

It is not that I do not believe in bitcoin to be on top of all currencies over the world but I guess, making bitcoin as fiat one to be a future money I guess it is a bit hard to imagine tho the fact of many now are involving into bitcoin, but we must also look to the point that it is still inside of the computer where not all of us can access any time then.
And not all country allows bitcoin to use it as the transaction method to pay things.

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January 25, 2017, 01:53:00 PM
 #724

I believe the technology of bitcoin is the future of money.  Unfortunately, what will probably happen is central banks and such will create their version of bitcoin, controlled by them, and then that will replace bitcoin in the normal economy.  they will try to marginalize what they cannot control.  I know Bank of Canada and bank of england all have interesting papers on blockchain tech and bitcoin. 

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January 25, 2017, 03:09:26 PM
 #725

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

To answer the question raised in your topic's title -- no, I don't think that Bitcoin is the future of "money". At the moment it is one of the most sophisticated ways of sending secure peer-to-peer transactions. What makes it so interesting is that it cuts out the intermediary, allowing transactions to take place directly from user to user. Thus it may help shape the future of the financial industry -- but its future is most likely not as a digital currency. I don't believe we'll see the abolishment of money as we know it anytime soon.

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January 25, 2017, 06:14:59 PM
 #726

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

To answer the question raised in your topic's title -- no, I don't think that Bitcoin is the future of "money". At the moment it is one of the most sophisticated ways of sending secure peer-to-peer transactions. What makes it so interesting is that it cuts out the intermediary, allowing transactions to take place directly from user to user. Thus it may help shape the future of the financial industry -- but its future is most likely not as a digital currency. I don't believe we'll see the abolishment of money as we know it anytime soon

In a decentralized world a centralized currency would be a black sheep of sorts

By a decentralized world I mean a world where will be no more governments in the sense we understand them today. If there are no more governments sticking around, obviously there will be no place for government money either (but money itself will still be important, though not necessarily Bitcoin). I don't know how that could be made possible, but, on the other hand, some ten years ago hardly anyone could ever think that something like Bitcoin would be possible at all

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January 25, 2017, 06:40:31 PM
 #727

its true that there are many more important projects avalible including bitcoin but most of the developers like to stick around with bitcoin only because it has amonatary value and its not a kind of money it itself is a forum of payment but other stuffs take time to get profit


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January 25, 2017, 07:43:14 PM
 #728

The ultimate future of money is in the trashcan lol. Yeah im serious here. Money is ok in a world full of scarcity. But yes blockchain technology is awesome to make a transition to a better world.
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January 26, 2017, 05:09:54 AM
 #729

The ultimate future of money is in the trashcan lol. Yeah im serious here. Money is ok in a world full of scarcity. But yes blockchain technology is awesome to make a transition to a better world.

Nope, how can a well treasured  wealth of a state be put to trash? unless they already found something that could replace it. For sure before they go too much out of the feature of money, they will just develop it and make it more useful and adopt to the future needs of the people. Government is clever, they won't just trash away what gives them power.  Smiley

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January 26, 2017, 05:56:25 AM
 #730

The ultimate future of money is in the trashcan lol. Yeah im serious here. Money is ok in a world full of scarcity. But yes blockchain technology is awesome to make a transition to a better world.

Nope, how can a well treasured  wealth of a state be put to trash? unless they already found something that could replace it. For sure before they go too much out of the feature of money, they will just develop it and make it more useful and adopt to the future needs of the people. Government is clever, they won't just trash away what gives them power.  Smiley

By money I mean bitcoin as well. You would not need money in a world aknowledgeing a lack of scarcity. They just wont be needed. There is a second option. Money would evolve into power credits of trust that would be used to control people in a power of decision making. Trust should always be scarce so that kind of money would be ok to deal with.

A third option is that we will destroy all the civilization and start again in the stone age. I dont see a fourth option.
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January 26, 2017, 06:50:50 AM
 #731

The future of Money is the one world currency we are being moved towards.
Thankfully, Bitcoin wont be a part of it.
Currently every country had its own currency, except for the European single currency. The USD is still very dominant in the world transaction so that every transaction will be the conversion to USD. I think the future money method is adopted the bitcoin system, I agree with the thought that one world one currency so that all transactions will be in full swing without of other forces that could affect currency prices.
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January 26, 2017, 08:32:39 AM
 #732

Bitcoin is considered to be the current currency even today. We can shop with Bitcoin. We trade in Bitcoin stock exchanges. We can exchange services for BTC. I do not need to wait for the future. Even now bitcoin has become a valid currency.
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January 26, 2017, 08:52:08 AM
 #733

It is hard to say what will happen in future. With that being said, I believe bitcoin has what it takes it to be the money of the future. We have seen many clones of bitcoin coming out and competing with it. But bitcoin is here to stay and rule over them. Bitcoin being a pioneer in crypto technology has some unique feature which is not available in fiat system and hence the popularity is increasing day by day. I have no doubt that in next ten years we would have a growth rate of 100% or more regarding worldwide users and people would prefer bitcoin over PayPal or Visa.
I'm pretty sure that bitcoin does what has it takes to be one of the future money.
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January 26, 2017, 09:06:47 AM
 #734

Bitcoin is considered to be the current currency even today. We can shop with Bitcoin. We trade in Bitcoin stock exchanges. We can exchange services for BTC. I do not need to wait for the future. Even now bitcoin has become a valid currency.
everything that spendable to trade (buy/sell) stuff considered as money ,
and bitcoin come with a breakthough full of helpful technology ,
like a decentralization , no tax in it and a lot of benefit ,
people just not realized yet about how benefical bitcoin rather than to use any other currency as money.

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January 26, 2017, 09:13:10 AM
 #735

Bitcoin is possible and will not be the money of the future, but his model and principles can be the basis of future money. Generally very interesting to look at how to develop the financial sector, China plans to issue national digital currency, such an experience is very important after that the world of finance can change forever.

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Vivace92
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January 26, 2017, 09:32:28 AM
 #736

At the speculation of many who doubt that bitcoin is really the future of money, the main factors cause is the presence of doubt that bitcoin is easy to be controlled so that it could undermine the price of bitcoin.
n0ne
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January 26, 2017, 10:14:31 AM
 #737

Joseph Stiglitz, nobel prize winning economist who appreciated the US government for shutting down the bitcoin for the reason of easy corruption, tax evasion and tax avoidance have shown positive signs in a recent Economic conference. He has suggested that countries like USA need to move from fiat towards digital currency. He too stated that, though it has got some drawbacks in the long run it moves in the right direction.

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Oggy1987
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January 26, 2017, 10:54:55 AM
 #738

Joseph Stiglitz, nobel prize winning economist who appreciated the US government for shutting down the bitcoin for the reason of easy corruption, tax evasion and tax avoidance have shown positive signs in a recent Economic conference. He has suggested that countries like USA need to move from fiat towards digital currency. He too stated that, though it has got some drawbacks in the long run it moves in the right direction.

Yeah but they wont use Bitcoin as digital currency. They will make their own coin (if it ever comes to that), so they can control it. Only reason why they even think of digital currency is because its easier to control and overlook it then fiat. Some countries already moving in that direction, why you think India abolished big bank notes?
hatshepsut93
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January 26, 2017, 10:58:30 AM
 #739

Bitcoin is considered to be the current currency even today. We can shop with Bitcoin. We trade in Bitcoin stock exchanges. We can exchange services for BTC. I do not need to wait for the future. Even now bitcoin has become a valid currency.

You can shop with Bitcoin in a very-very few places compared to the global market.

If you can trade it it doesn't meat that it's currency, it only means that it's an asset.

Again, very small amount of services is being provided for Bitcoin.

So, Bitcoin is a currency as long as two sides agree on it and use it as payment method. If you'll go to your closest shop and ask if you can pay in BTC you will most likely hear "What's Bitcoin?" and then "No, fiat only". This illustrates that Bitcoin is a small currency, because very few people use it, most people haven't even heard the word.

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January 26, 2017, 01:04:56 PM
 #740

I believe the technology of bitcoin is the future of money.  Unfortunately, what will probably happen is central banks and such will create their version of bitcoin, controlled by them, and then that will replace bitcoin in the normal economy.  they will try to marginalize what they cannot control.  I know Bank of Canada and bank of England all have interesting papers on blockchain tech and bitcoin. 
Blockchain technology is no doubt the foundation for the future of money and that explains the attraction from almost every field of endeavor - the big banks and government agencies inclusive. We know the governments are not at home with Bitcoin as is, because it robs them of the control they cherish to death. Adapting the blockchain to bid their wishes is something to be expected, but the fact remains that Bitcoin have opened people's eyes to the modern slavery the governments subject people through their worthless piece of papers, we call money, at any rate, they will only succeed in taking the horse to the stream, but drinking from it, would be a matter for another day.

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