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Author Topic: The Future of Digital Currencies and Payments - What will we use to pay?  (Read 134 times)
Viiiii
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October 06, 2017, 04:22:58 PM
 #1

Hi Community, after reading trough different platforms, threads and enjoying the "wildwest" of Crypto i am getting very proud of the new world you people create. Anyone who spends some time getting deeper in this area understands that now is just the beginning of the worlds future settings. And still i have the feeling that the question...what is the future currencies we all going to use...has yet no clear answer.

Since Bitcoin seems to be more a store of value for many i spoke with and Ethereum the utility platform, what do we want for real future use?

I would really enjoy if we could create a framework of how a currency of people should look like. In discussions and questions we could find out what we really want as a global society and the answer don't have to be one coin or one system, more a eclectic truth developing with real life value and use. I thought we could start with understanding by questioning all we know of created versions, here are some questions to begin with:

What should the currency represent?
Should it be link to real world work, resources, politics, GDP, News, wallstreet,...?
Should it be like Tether?
Should it have PoW, PoS, PoK,...?
Anonymous or fully transparent?
Should it be mined by mobile phones and limited mineable for each fingerprint on earth?
Should it be stable and only increase by value to real food,rent prices?
Should it implement a economical side to create universal basic incomes or other cosmopolitical impacts

After a while of questioning and discussions i will pick a collection of good questions and statements and start a survey so people can vote and we can create a first version out of the results.

Enjoy the thread!
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October 06, 2017, 05:00:46 PM
 #2

This one is Real, and a company which is already working, and many big Stars are going to sign with this company soon, also Spotify is negotiating to work with them, check it out.

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October 06, 2017, 05:05:54 PM
 #3

I think in the end there will be a "world dollar". not necessarily the USD at all. People need something to relate crypto to. It's very difficult to imagine going to buy a can of coke for 0.00013452 Eth or whatever it's going to be. As humans, we like "whole" things. £1/$1/€1. You don't buy an eight of an apple or 0.12% of it. this will take some getting used to.

It may be that society really does become blade runner and we spend in "credits". but we'd still need to know the value. The problem I find is the volatility of it at present. Iy could mean that you can afford a full tank of diesel one day but not the next (as an, excuse the pun, crude example).

There will have to be one singular unit as a reference point, I believe.
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October 06, 2017, 05:21:39 PM
 #4

There are many project to bridge cryptocurrencies and offline stuff, with mobile wallet placement, crypto economic will be created, if a government take the decision to accept cryptocurrencies as the official or accepted payment, that's the goal of cryptocurrencies in the long term , in my opinion.

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erbott1
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October 06, 2017, 06:11:37 PM
 #5

I think in the end there will be a "world dollar". not necessarily the USD at all. People need something to relate crypto to. It's very difficult to imagine going to buy a can of coke for 0.00013452 Eth or whatever it's going to be. As humans, we like "whole" things. £1/$1/€1. You don't buy an eight of an apple or 0.12% of it. this will take some getting used to.

It may be that society really does become blade runner and we spend in "credits". but we'd still need to know the value. The problem I find is the volatility of it at present. Iy could mean that you can afford a full tank of diesel one day but not the next (as an, excuse the pun, crude example).

There will have to be one singular unit as a reference point, I believe.

I think some gold backed crypto will make it in a long term. This is a good one https://www.goldmint.io/

With current volatility bitcoin can't never be a decent payment method as you stated above. And digits needs to be sorted. No one don't want to see prices in market in 0.00001 btc etc...
khufuking
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October 06, 2017, 06:21:55 PM
 #6

I think in the end there will be a "world dollar". not necessarily the USD at all. People need something to relate crypto to. It's very difficult to imagine going to buy a can of coke for 0.00013452 Eth or whatever it's going to be. As humans, we like "whole" things. £1/$1/€1. You don't buy an eight of an apple or 0.12% of it. this will take some getting used to.

Hmm this problem is do not even exist !! There is already units for a lot of the coins that will make you use whole numbers . most wallets now will give you the option to convert Bitcoin units into mBTC which will make it whole numbers so it is really up to you on which units you want to use !! There is no problem here  Wink

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Viiiii
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October 06, 2017, 10:20:29 PM
 #7


I think some gold backed crypto will make it in a long term. This is a good one https://www.goldmint.io/

With current volatility bitcoin can't never be a decent payment method as you stated above. And digits needs to be sorted. No one don't want to see prices in market in 0.00001 btc etc...

Do you think that Gold really represent a value only because of its amount?

I also always thought should a currency be used to pay for goods with fixed prices? Like why should the price for bread change? Only so some group of people can speculate? Or should some things like resources have fixed prices and prices for things like bread are greated by supply and demand?

I feel somehow that the first big question should be....do we want a centralized or decentralized currency? 
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October 06, 2017, 10:35:10 PM
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If we are talking about 15-20 years at least...cryptocurrencies will exist for sure.. and we will see a couple of the existing currencies in the future and some completely new, much better and much perfect and improved ones.. but it will be at the same time new system where fiat and crypto work together well
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October 06, 2017, 10:59:43 PM
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If we are talking about 15-20 years at least...cryptocurrencies will exist for sure.. and we will see a couple of the existing currencies in the future and some completely new, much better and much perfect and improved ones.. but it will be at the same time new system where fiat and crypto work together well

For me that means also we have around 20 years to be part of creating this new currency! The world in 20 years will be a totally different one after the 4 industriell revolution. The automatization will not only impact the digital world, even more the future of the analog one. And the mindset in any modern matter if politics, economy,... are results of the past centuries which somehow don't fit to the coming changes. And only now comparing the western world to many asian countries we fall behind in so many important fields.
Viiiii
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October 07, 2017, 10:53:00 AM
 #10

I think in the end there will be a "world dollar". not necessarily the USD at all. People need something to relate crypto to. It's very difficult to imagine going to buy a can of coke for 0.00013452 Eth or whatever it's going to be. As humans, we like "whole" things. £1/$1/€1. You don't buy an eight of an apple or 0.12% of it. this will take some getting used to.

It may be that society really does become blade runner and we spend in "credits". but we'd still need to know the value. The problem I find is the volatility of it at present. Iy could mean that you can afford a full tank of diesel one day but not the next (as an, excuse the pun, crude example).

There will have to be one singular unit as a reference point, I believe.

Ya agree with your points! And specially the volatility is a big issue in that decision, since the fluctuation in your example with the dollar price happened in the last decades not because of reallife time events more as a result of a debt base money system in which the central banks can print as much money as they want. And even if they can adjust the interest rates and force companies to spend their money, the could raise it by few % each year again and it will end up in another dept crisis. See this chart: http://money.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization/

After all i would suggest the question Should the currency be centralised? is our first big question (1)
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