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Author Topic: [2018-03-21]Bitcoin Will Be World's 'Single Currency' Says Twitter CEO  (Read 306 times)
Gotottack
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March 27, 2018, 03:18:21 PM
 #41

And after all that has been said and done, this is their public statement? I want to give the benefit of the doubt as to why this Twitter CEO has to publicize the fact that he is connected with Twitter when he himself can do so as his own private individual? I mean, shall we expect something worse than this? The news have all been jammed up because of write ups that complicate the stand of the powerful and influential. The proliferation of unverified news has been rampant which, as they say, comes with the technology being in the hands of the people. This happening virtually affects the mindsets of Bitcoin investors resulting to its poor price performance.
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July 12, 2018, 12:02:48 PM
 #42

Right now with only 30 million coins and growing political support from g-8 and g20 countries like Germany and South Korea, bitcoin has a valuation of nearly 150 billion us dollars, in a decade many predict it will reach 1 trillion USD, maybe even more, it's financial treasure.



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July 12, 2018, 12:20:37 PM
 #43

It's very possible that this scenario will unfold.

However, I personally think that there will never be one single currency per se globally. I do believe that bitcoin will become more and more adopted in the future, and I do think that bitcoin could well be the de facto currency for all international trades on the internet or whatnot. But it's extremely hard to see that all fiat currencies will be abolished in 10 years time.

Bottom line is that bitcoin will at least see an increased role in the world economy as a store of wealth especially for those in countries with faltering economies, even if it doesn't fully replace fiat.

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September 15, 2018, 06:30:57 PM
 #44

Bitcoin Will Be World's 'Single Currency' Says Twitter CEO

Jack Dorsey, chief executive of Twitter and payment company Square, has spoken of his strong belief in the future potential of bitcoin.

In an interview with The Times published Wednesday, Dorsey, himself a noted bitcoin investor, said he believes the cryptocurrency will take over the U.S. dollar's dominant place in world finance and become the primary global currency for payments.

Suggesting the shift could happen in 10 years or perhaps less, the entrepreneur said:

"The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin."

https://www.coindesk.com/twitter-ceo-jack-dorsey-bitcoin-will-be-the-worlds-single-currency/

To be honest, I have serious doubts that bitcoin will at some point become the "worldwide single currency" that some supposed visionaries have insisted on announcing. I believe that in order for the ideal of decentralization to remain intact, there must be not only a dominant actor in the scenario, but serious competitors in cryptospace that promote diversity, competition and development, so I would expect that in the future there will be at least five or six cryptocurrencies with similar popularity and acceptance than bitcoin.

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September 16, 2018, 12:25:59 AM
 #45

I believe that in order for the ideal of decentralization to remain intact, there must be not only a dominant actor in the scenario, but serious competitors in cryptospace that promote diversity, competition and development, so I would expect that in the future there will be at least five or six cryptocurrencies with similar popularity and acceptance than bitcoin.

Unless each one is radically different in some way then I don't think this will happen. Humans naturally gather around the biggest game in town. Not once have I ever put money into LTC or Doge as I believed they deserved some. I'm going to go straight to the source.

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September 16, 2018, 02:28:00 AM
 #46

This is a bit extreme, bitcoin is and will be the cybergold but to be used as single currency it will be difficult.

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September 16, 2018, 10:35:48 AM
 #47

Unless each one is radically different in some way then I don't think this will happen.

It's hard to come even close to what Bitcoin stands for in terms of decentralization. Everything that we see launch today is either a project ran by a bunch of geeks who haven't had a shower in a while, or some corporate bobos thinking they re-invented this whole industry. In all cases there is a public face behind the project that subject itselfs to all sorts of central single points of failure.

If you try to dump the source code of a certain project in the wild public and then vanish in the hope it will get the same treatment as Bitcoin back in the days, you'll come back a couple of years later to see that no one even bothered to pick it up. It's next to impossible to even form a remote competitor in that regard.

The crypto industry is more diverse than it has ever been, but the incentives are different now. Decentralization is no longer the priority, scalability is, which means that projects don't even bother to act as a decentralized incentive anymore. They just want the economical numbers on their side.

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September 16, 2018, 06:07:12 PM
 #48

Unless each one is radically different in some way then I don't think this will happen.

It's hard to come even close to what Bitcoin stands for in terms of decentralization. Everything that we see launch today is either a project ran by a bunch of geeks who haven't had a shower in a while, or some corporate bobos thinking they re-invented this whole industry. In all cases there is a public face behind the project that subject itselfs to all sorts of central single points of failure.

If you try to dump the source code of a certain project in the wild public and then vanish in the hope it will get the same treatment as Bitcoin back in the days, you'll come back a couple of years later to see that no one even bothered to pick it up. It's next to impossible to even form a remote competitor in that regard.

The crypto industry is more diverse than it has ever been, but the incentives are different now. Decentralization is no longer the priority, scalability is, which means that projects don't even bother to act as a decentralized incentive anymore. They just want the economical numbers on their side.

It's going to take some time for enough people to figure it out but eventually they will and that is for most things 'blockchain' is a pointless pain up the arse.

The only thing that actually justifies the hassle is decentralisation and virtually nothing other than bitcoin and a handful of others actually is. What remains will be some clunky code best abandoned followed by a return to databases.

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September 17, 2018, 12:41:23 AM
 #49

It's going to take some time for enough people to figure it out but eventually they will and that is for most things 'blockchain' is a pointless pain up the arse.

The only thing that actually justifies the hassle is decentralisation and virtually nothing other than bitcoin and a handful of others actually is. What remains will be some clunky code best abandoned followed by a return to databases.

I definitely remain unconvinced about the idea that blockchains are going to "disrupt" most industries. Outside the context of securing money, resisting censorship (including cross-border and sanctioned transfers), and private transactions (e.g. Monero), I don't see viable use cases that justify the inefficiency of decentralization. That's not to say they won't emerge -- I just don't see anything compelling. Smart contracts are an interesting area for study, but I haven't seen anything useful. For now, it's just a horribly inefficient mess of "Hello, World" level crap.

But also, I do think Patrick Byrne was onto something with his vision of security tokenization. We might be annoyed by all the scams and vaporware emerging from the ICO scene, but tokenized securities built on decentralized blockchains do break down barriers for investment, fundraising and securities trading. With the drop in hype we've seen, there's naturally a lull in ICO activity, but I think there will be a lot of renewed interest in that space over time.

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September 17, 2018, 12:54:19 AM
 #50

I definitely remain unconvinced about the idea that blockchains are going to "disrupt" most industries. Outside the context of securing money, resisting censorship (including cross-border and sanctioned transfers), and private transactions (e.g. Monero), I don't see viable use cases that justify the inefficiency of decentralization. That's not to say they won't emerge -- I just don't see anything compelling. Smart contracts are an interesting area for study, but I haven't seen anything useful. For now, it's just a horribly inefficient mess of "Hello, World" level crap.

But also, I do think Patrick Byrne was onto something with his vision of security tokenization. We might be annoyed by all the scams and vaporware emerging from the ICO scene, but tokenized securities built on decentralized blockchains do break down barriers for investment, fundraising and securities trading. With the drop in hype we've seen, there's naturally a lull in ICO activity, but I think there will be a lot of renewed interest in that space over time.

I haven't really looked into securities but the principle does sound promising, vastly more so than the nonsensical shit floating around now.

My feeling is that blockchains will become ubiquitous in places that have barely been thought of yet and where they're being touted now will seem laughable looking back.

What's truly needed is one event/threat/disaster to really nail into people how vital decentralisation is. Until they get it thrown in their faces they're going to continue whining about how 'impractical' it is and be desperate to throw it away when we all know that once it's gone it ain't coming back.

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September 18, 2018, 02:34:21 AM
 #51

It's nice to hear big names on the internet industry who gives huge support on bitcoin or maybe it only happened because they are not Paypal. But I also agree to his predictions that the crypto takeover will happen in less than a decade.

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September 19, 2018, 07:19:25 PM
 #52

I would not like to have a single currency and a single currency, no matter how good and functional it was. I want to have freedom of choice and the ability to use different currencies, rather than dictate a single currency. Therefore, I hope that the crypto  currency  will continue to develop in different directions and many useful and promising coins and tokens will appear.

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