When you think of currency what will come to your mind?

[Leo Barnes]

The International Monetary Fund (IMF) just recently posted a picture that shows the evolution of money that people have used since the beginning of human civilization. Will IMF consider Bitcoin as a new currency?


https://cdn-images-1.medium.com/max/800/1*TnaWyyjfNiI7UiM1jmarqA.jpeg

[KingScorpio]

The International Monetary Fund (IMF) just recently posted a picture that shows the evolution of money that people have used since the beginning of human civilization. Will IMF consider Bitcoin as a new currency?

can you provide a link?

are they braindead? aren't they supposed to be neutral?

[liberty02]

The International Monetary Fund (IMF) just recently posted a picture that shows the evolution of money that people have used since the beginning of human civilization. Will IMF consider Bitcoin as a new currency?

can you provide a link?

are they braindead? aren't they supposed to be neutral?

Here I found their blog with that picture for you:

https://blogs.imf.org/2018/05/30/our-digital-future/

“Money makes the world go around,” Liza Minnelli famously sang in the movie Cabaret. Money has for centuries been central to human relationships. Loss of faith in its value can result in economic and political instability, even war. In the past few years, financial technology—fintech for short—has caught the world’s imagination by offering alternatives to traditional means of payment. Will digitalization redefine money? In this issue, we explore the possible consequences, good and bad.

Traditionally, money has always been an expression of sovereignty, writes Harold James of Princeton University—even if states at times failed spectacularly to guarantee its value. Today, most experts agree that so-called cryptocurrencies do not possess all the core attributes of money. But they also believe that distributed ledger technology, which underpins such assets, has the potential to transform payment services by removing the need for an intermediary. This would reduce the role of central banks and weaken state authority over the money supply. Indeed, that was the political motivation behind Bitcoin, the first decentralized digital currency.

Swedish central bank governor Stefan Ingves points out that, at present, only 13 percent of transactions in his country are settled with cash. If banknotes and coins have had their day, then soon the public will no longer have access to a state-guaranteed means of payment. That is, unless central banks redefine their role. One possibility would be for central banks to issue their own digital tokens—a solution that would require careful consideration of choices and policy trade-offs, says the IMF’s Dong He.

Worries about the misuse of financial technology should be weighed against its potential benefits to society. IMF Managing Director Christine Lagarde offers the following advice “Above all, we must keep an open mind about crypto assets and financial technology more broadly, not only because of the risks they pose, but also because of their potential to improve our lives.”

[mk4]

To answer your topic question, I still think of USD, PHP, GDP, and other fiat currencies as money. Simply because fiat money is still the widely used currency worldwide. Still have huge hopes for BTC though.

Also, it's funny how we're getting so much positive news and adoption this year, but still the prices refuse to go up. If this was last year a single positive news pumps the prices by at least 10%.

[FlightyPouch]

I don't think they see Bitcoin as a new currency but what they might be referring in this photo is not about the evolution of money since trading is not here but the evolution of payment system that starts using the common ones, paying money then it evolved on using cards and now which we can use mobile phone applications and obviously Bitcoin.

[KingScorpio]

IMF employees are similar like Bank employees they are braindead, (in the west especially often braindead christians) they are supposed to be neutral, not constantly think the universe is good to them and helps them. they live their live and write down things, being aware, of 0.000001% of total reality whats going on.

they think bitcoin is a social movement, supported by many,

but the truth is different

its a greed movement to obtain power as all other currencies are. its a never ending flow of propagandacoins, till those that work for money simply will see no reason working for money anymore, and money collapses even more.

regards

[Leo Barnes]

The International Monetary Fund (IMF) just recently posted a picture that shows the evolution of money that people have used since the beginning of human civilization. Will IMF consider Bitcoin as a new currency?


https://cdn-images-1.medium.com/max/800/1*TnaWyyjfNiI7UiM1jmarqA.jpeg

can you provide a link?

are they braindead? aren't they supposed to be neutral?

here is the link that IMF posted recently maybe they realize the potential of bitcoin to our ecosystem.


http://www.imf.org/external/pubs/ft/fandd/index.htm

[CODE200]

The International Monetary Fund (IMF) just recently posted a picture that shows the evolution of money that people have used since the beginning of human civilization. Will IMF consider Bitcoin as a new currency?

I think yes, there will be the biggest chances that bitcoin will be the alternative currency to fiat money. We need to admit the fact that in the pass years there could be a new innovated technology that possibly appears in our community. New technologies therefore there will be a better changes will be happen in the future. It can be much lightened and brighten our economy and maybe it may brings of much enhancement and development to our economy and to our county. Maybe 5 years  from now we can see the better changes.

[Nerman]

Nice Picture. Also the picture seems right. I do not know if the picture really come from IMF but if it is then it is great. They recognized that the future of money is Bitcoin/ Crypto currency.

For the topic question, As of now i still think that Peso, dollars, euro etc is still the currency as of now this are the official currency of the country but soon some crypto currency coins will be considered as currency by countries.

[pooya87]

Will IMF consider Bitcoin as a new currency?

the article and this clear image shows that they consider bitcoin as a currency already. and that is inevitable. as i always say all the countries, all the governments,... will eventually accept the fact that bitcoin exists and is a currency that they can not control. they may be fighting it now but that is a battle they can not win.

Also, it's funny how we're getting so much positive news and adoption this year, but still the prices refuse to go up. If this was last year a single positive news pumps the prices by at least 10%.

yeah, that's what i figured also.
i think it is mainly because of the market situation that was created. meaning an uncertain market where nobody knows where it is going (it is neither bull nor bear market) which is why only high risk traders and whales are in and everyone else is out with money in hand waiting to find a good entry point to enter.

[vinbitpon]

IMF is already considering crypto as a new form of currency. With the current technology the world have, they are already aware that BTC will be useful.

But, I think this will take years to be used in full. Crypto is still in development stage.

[roxbit]

The International Monetary Fund (IMF) just recently posted a picture that shows the evolution of money that people have used since the beginning of human civilization. Will IMF consider Bitcoin as a new currency?

When I think of currency what comes to my mind is “money” whatever currency it is. If the International Monetary Fund recognizes the possibility and the potential of bitcoin as a future currency then that would be a very good news. It only shows how bright the cryptocurrency future will be.

[piebeyb]

I will say YES, and it is in the process of why I am here to see the future of bitcoin whether it will be the only single currency in the future, seeing the improved technology every year shows that the currency needs something digital possible with bitcoin

[Ewox]

Not now but maybe in time it will be considered as a currency when the government will accept them and not ban them in different countries. And some do consider bitcoin and other cryptocurrencies a currency because they use these coins as a form of payment but have to be converted to their own local currency first before sending the payment.

[neliawesome]

Yes theres really a big changes and it is very amazing but for me btc is not a new currency because till now its not widely used to everyone.It is just a new way of transacting digital money in fast and easier way.

[CHENIEN]

Thinking about cryptocurrency is like a form of high social class instrument that makes economic world develops into high socialize system when it comes to high level of rate income to every human being that contributes also to high contributions of taxes to the world on every trasactions of cryptocurrency business transactions by making into real paper bill.

[Johnzky]

To answer your topic question, I still think of USD, PHP, GDP, and other fiat currencies as money. Simply because fiat money is still the widely used currency worldwide. Still have huge hopes for BTC though.

Also, it's funny how we're getting so much positive news and adoption this year, but still the prices refuse to go up. If this was last year a single positive news pumps the prices by at least 10%.

Maybe this is the part of every positive thinker to still have faith in cryptocurrency and most specially in bitcoin

And if all of us will disappointed on the low value of coins in market our moral of being cryptonians will drop and many of us will leave this community and find other area to earn,so i love this attitide and hope many of us will do so

[Baekhyun]

I hope it's true, financial technology is growing to the digital direction. hopefully in the future not only Japan that legalized Bitcoin, and I'm here to see what we call technological advances

[Pursuer]

one thing that I like, and have encountered a lot in the recent week, is the fact that it is not just currency  that is moving towards decentralization and censorship resistance with bitcoin it is a lot of other things. we are seeing decentralization all around us.
for example the other day I was reading about PeerTube which is basically the decentralized youtube alternative https://torrentfreak.com/peertube-a-censorship-resistent-youtube-alternative-180623/ and that is just a start.
in any case it is good to be involved with the pioneer like bitcoin.

[maculeth]

I still believe in paper money will always be there. and bitcoin appears as an investment asset that will outperform other assets.