Bitcoin is the New Economy, we are only at the very beginning

[timerland]

Bitcoin isn't a new economy.

However, it is definitely a currency that will have potential to play a big role in the future economy, especially the online one. And I can't agree enough with the statement that we're only in the early adoption phase where lot a lot of real usage and adoption of bitcoin is actually going on.

People still have doubts, and fail to realize the many problems that can be addressed through a decentralized currency. E.g., ongoing currency debasement of fiat. Even if we don't see fiat necessarily be replaced by bitcoin in the future, adoption should continue to go up, and we should see a nice niche that bitcoin serves, for online transactions, and for storing wealth as an alternative to fiat which is ever depreciating.

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[Popov_popov]

We all just write that the market will grow, but it stands still.  This is very bad.

[mokamoka]

I agree, Bitcoin is the new economy and the future developing trend. Currently, we are all in the early stage and have a long way to go.

[efxtrader]

I am agree with the statement that we are only at beginning. Cryptocurrency is just 9 years old but market cap already reach above $300billions dollar. I am believe in next few years, cryptocurrency market will reach trillions dollar market cap.
Cryptocurrency is new investment but already attracting many big financial firm like rockefellar and rothschild investment. Beside that, JP Morgan and Goldman Sachs already put their money in cryptocurrency market.

[deus030518]

I would agree that we are just still in the early stages of a new age where we will have full control of our finances. As of new many people are turning into cryptocurrency and along with that many countries are acknowledging it. Right now we just need to learn self regulation as it is needed if we would want to have full control of our finances and before the mass adoption of cryptocurrency in the main industry.

[avp2306]

I would agree that we are just still in the early stages of a new age where we will have full control of our finances. As of new many people are turning into cryptocurrency and along with that many countries are acknowledging it. Right now we just need to learn self regulation as it is needed if we would want to have full control of our finances and before the mass adoption of cryptocurrency in the main industry.

Bitcoin still unrecognize by many of the people imagine how many people are only staking with crypto's and how many people living in whole world since if 80% of population will go with the technology brought up by digital money then most provably bitcoins and cryptocurrency prices will climb up and surpass the dominance of gold and any other expensive assets/commodoties.

[jonaire99]

It is a new kind of currency for me, not economy. An intangible virtual currency where many people can earn big profits by just holding it and wait for its price to go up. Economy means the wealth and resources of a country and if they legalizes bitcoin as one of their currency then it will become part of the nation's economy.

[nguli]

yes you are right bitcoin can be said as one of the new economies and now bitcoin can also be accepted for several payment methods available on the internet.

[mimienamphine]

This is very true about a new industry like we have now.Just at the very beginning of things.From 2009 till now, has shown a significant growth and forecasted to grow exponentially from now. The industry has been embraced with high morale and with time ,it will capture the entire earth.

[maculeth]

I don't think bitcoins are an economy by itself. If you say economy it is something that is produced and consumed by the people.
In bitcoins there is only a medium of exchange, nothing else. There is no economy to speak of here. The only thing bitcoins would
be in an economy is a way to pay for stuff, but it can't produce stuff, nothing goes around.

can be considered bitcoin can only be felt by some people profit alone, especially those who invest into crypto. and no other impact caused by bitcoin, as its value continues to grow.

[ashfer]

Bitcoin is the new form of economy with a strong net work systems. Bitcoin has its definite features which are very useful and attractive to the global community for their daily requirement.Even though bitcoin has started in the year 2009 it is still in the beginning stage and has to go a very long way further.The originators intention to provide a strong currency to the global community for their daily usage world wide.Bitcoin is one of the major crypto currency which can be operated world wide electronically only. Among the global community 30 to 40 percentage of the people are only be using the computer mostly the youngsters and shortly this can be improved further to the majority to use bitcoin world wide.

[Sled]

Bitcoin is not the new economy, it is the new type of financial system that we will be implementing in the countries in the future. Bitcoin is still on the process of improving and development so that is why it cannot be act as a new economy because it is just a help or an option for the people to grab to experience a better type of financial system.

[Jessica2009]

   Cryptocurrency is a digital currency that is managed by the techniques of cryptography . This led to the creation by Sathoshi Nakamoto in 2009 it is a decentralized one that is it has no control by the government the user only have the control over it . even though Bitcoin has been reached ten years still it is in its infant stage most of the people are not aware of Bitcoin and even new to the economy and most of the population still trust only in fiat currency.

[Raufjoze]

maybe you think the new economy is bitcoin can change the economy of bitcoin users financially I agree, but if as a new economy change the economy of a country I think it is not like that the presence of bitcoin

[player514]

The Cryptographic Winds of Change
by Bharath Rao

A little over a hundred years ago, the claim that a metal tube with stationary wings could fly halfway around the world would have been called a fraud by many. Yet the Wright brothers took the first step to make this seemingly impossible idea a reality.

Several weeks ago, Jamie Dimon made a big splash and ruffled some feathers by pronouncing Bitcoin “a fraud.” The reality, however, is that Bitcoin has an immense value proposition: Indeed, cryptocurrency will revolutionize the world order as much as, if not more than, air travel did nearly a century ago.

There are a number of passionate opinions on the cryptocurrency ecosystem. Bitcoin in particular has been dismissed as a fraud and a Ponzi scheme, while at the same time lauded as the greatest financial invention in the last century. Its past association with dark markets and the high volatility of the exchange rates intrigues and mystifies the general public as to the nature and possibilities of cryptocurrencies, as well as the risks.

While Bitcoin’s value has been volatile, in general it has risen steadily. Bitcoin old timers know that there are a lot of people who hold most of their wealth strictly in crypto. When there is weakness in price, they look at it as an opportunity to convert more of their holdings away from fiat.

The legacy market participants struggle to understand why this is so. What gives confidence to bitcoin holders to ride out a 70% down move without breaking a sweat? Why do most people in crypto prefer to invest in the wild west of ICOs instead of the regulated stable legacy markets?

The answer is simply that the crypto-economy has a far greater value proposition than any legacy market. The ability of a third party to delay, censor, or monitor your transactions is a risk, and removal of any risk is an automatic increase in confidence. Risk is also a form of cost and the crypto ecosystem by that definition is always cheaper, safer, and more efficient.

Anyone who understands this value proposition understands the value differential between the legacy and crypto ecosystem is not just large, but precipitously large, which results in an unprecedented economic pressure that will rapidly move capital from legacy systems to cryptosystem. For now, this is slowed by the rather cumbersome UX of using crypto. Once that’s addressed, the dam will break.

Builders of economic systems in crypto have been the winners since 2009 in fortune and their stature among their peers. The early adopters of this new economy will continue to reap rich rewards as it further develops and matures.

http://paymentsjournal.com/cryptographic-winds-change/

Bitcoin and other cryptocurrencies are starting to look like the .com boom that started in the 2000s. Everyday we see new cryptocurrencies entering the market for different purposes, just like how different websites appeared all the time when the internet started to take place. A number of influences have combined to create a strong need for crypto, and the new digital currency still has a lot of advantages to offer consumers and investors around the world. One of the biggest reasons Bitcoin is still considered the wave of the future has to do with the need for increased security measures. Identity theft has been on the rise, with entire databases full of credit card numbers and other personal information being stolen and used for nefarious purposes. The new PIN-and-chip credit cards banks are issuing have helped to some extent, but there is still plenty of room for fraud.

[phpartisanmaster]

We all just write that the market will grow, but it stands still.  This is very bad.

In my own opinion, bitcoins can actually improve the economy of a country if government will allow their people to use cryptocurrency, since everyone can earn more income in that way and they will be able to pay taxes at the same time.

[MelissaAnderson11]

If you say Bitcoin is a new economy, I would disagree with that. If they are an economy, they will be under the control and control of the government, but the nature of Bitcoin is unmanageable.

[gosha18]

I do not understand why the government does not want to take bitcoins.  People will start to earn more, the economy will start to grow, which means that they will pay more taxes.

[katrimans]

The Cryptographic Winds of Change
by Bharath Rao

A little over a hundred years ago, the claim that a metal tube with stationary wings could fly halfway around the world would have been called a fraud by many. Yet the Wright brothers took the first step to make this seemingly impossible idea a reality.

Several weeks ago, Jamie Dimon made a big splash and ruffled some feathers by pronouncing Bitcoin “a fraud.” The reality, however, is that Bitcoin has an immense value proposition: Indeed, cryptocurrency will revolutionize the world order as much as, if not more than, air travel did nearly a century ago.

There are a number of passionate opinions on the cryptocurrency ecosystem. Bitcoin in particular has been dismissed as a fraud and a Ponzi scheme, while at the same time lauded as the greatest financial invention in the last century. Its past association with dark markets and the high volatility of the exchange rates intrigues and mystifies the general public as to the nature and possibilities of cryptocurrencies, as well as the risks.

While Bitcoin’s value has been volatile, in general it has risen steadily. Bitcoin old timers know that there are a lot of people who hold most of their wealth strictly in crypto. When there is weakness in price, they look at it as an opportunity to convert more of their holdings away from fiat.

The legacy market participants struggle to understand why this is so. What gives confidence to bitcoin holders to ride out a 70% down move without breaking a sweat? Why do most people in crypto prefer to invest in the wild west of ICOs instead of the regulated stable legacy markets?

The answer is simply that the crypto-economy has a far greater value proposition than any legacy market. The ability of a third party to delay, censor, or monitor your transactions is a risk, and removal of any risk is an automatic increase in confidence. Risk is also a form of cost and the crypto ecosystem by that definition is always cheaper, safer, and more efficient.

Anyone who understands this value proposition understands the value differential between the legacy and crypto ecosystem is not just large, but precipitously large, which results in an unprecedented economic pressure that will rapidly move capital from legacy systems to cryptosystem. For now, this is slowed by the rather cumbersome UX of using crypto. Once that’s addressed, the dam will break.

Builders of economic systems in crypto have been the winners since 2009 in fortune and their stature among their peers. The early adopters of this new economy will continue to reap rich rewards as it further develops and matures.

http://paymentsjournal.com/cryptographic-winds-change/

Some of you are quite funny… you just say whatever that comes to your mind without thinking about it. Bitcoin is different, you’re it going to be using aero plane as an example for Bitcoins. Don’t call me an unbeliever. I know what I’m saying, this is a different case… our currencies will always remain our currencies and not Bitcoin, because it can’t be our currency. Fiat is fast, technology is everywhere and you can send and receive money with the help of bank mobile apps.

[BlueStackz]

It is a new kind of currency for me, not economy. An intangible virtual currency where many people can earn big profits by just holding it and wait for its price to go up. Economy means the wealth and resources of a country and if they legalizes bitcoin as one of their currency then it will become part of the nation's economy.

In present situations it is just a currency because in many countries it is using as currency with an investment source that is why it is just a contributing factor to economy and not economy.

However there are few countries where Bitcoin is using as main currency so for them it is the economy and success. Besides these countries many countries opposing it where there economy is related with their own currencies and GDP rates.