If we all live in a virtual world, will bitcoin become its official currency?

[krishnaverma]

I was rewatching Ready Player One earlier with my nephew and this thought came to my mind when I saw the prize money. If, for example, we live in a virtual world (however you describe your understanding of a virtual world) do you think we will only have one currency to use and that is bitcoin? Or will we still have different coins (altcoins)?

Get out of dreams and go to work.

Now, let us assume that we live in a virtual world, I would like it to be free from currencies or money. Desire for money is the root of most of the human problems.

[jcarlo]

I am believe in near future when people transaction using internet, i am believe most people using bitcoin as payment. It will be internet payment currency and beside that, bitcoin will be valuable digital asset.

[stiletos]

I wouldn't think bitcoin is a virtual currency. If a shop will accept bitcoin from you as payment for coffee, this service isn't virtual.. paying with bitcoin by my own assessment is the same as transfering money using your mobile phone. the transaction may not be seen physical but it is always physically acknowledged. what's a virtual world?? Like the movies right?? FIAT is used in movies, if we were living in a virtual world as much as we use fiat, we could also use bitcoin.

[randall_boss]

I believe there will be a few currencies, not just Bitcoin - kind of like the way in which different currencies are used all over the world at the moment (USD, AUD, EU etc). People like the variety

[Impulseboy]

This is what happens when thinking in cyberspace, bitcoin becomes an official transaction tool and altcoin becomes coins.

This is interesting, altcoin becoming coins and bitcoin as official transaction tool, just like how physical money is right now in the real world. I think this is possible to happen in the virtual world.

Bitcoin has scalability issues and if its widely used, there would be some problems with network congestion.

Could you expound on this? Do you mean to say that every single people getting into cryptocurrency (specifically bitcoin) might cause problems because there would be too many people in the network, trying to buy or sell their coins?

The movie is about virtual reality which is one thing, bitcoin is considered a "virtual" currency because it exists only in digital form and it is not an official currency, it is adopted and used by a group of people called themselves a "virtual" community as there is no way to group them together via traditional definitions.

Unlike virtual reality you can't do much about bitcoin, in a virtual reality you can become a bear and hunt flying whales, with bitcoin....you can spend or store them. Bitcoin are real, even in digital form, what you see or experience in a virtual reality game is ...virtual.

Yes, I know, however, I was wondering because in the movie they used the prize money to run the OASIS, which is their virtual world so in a way, the money holds some value. I was thinking, if for example we have that same technology today or in the near future, is it possible for bitcoin to be this currency that we will be able to use for whatever we want? Does that make sense?

[Impulseboy]

Maybe it's all just a sim? It's surprising how many serious scientists think this could all be an illusion. 



https://en.wikipedia.org/wiki/Simulation_hypothesis

I do not think science and technology mix well sometimes. Scientists think that this whole idea of virtual reality and virtual world is just science fiction, however, I think that there may be a chance for us to live in virtual world kind of setting. I do not think brain-computer interface will work but we could have something like the OASIS in the future. After all, we already have Second Life today.

[michellee]

Maybe it's all just a sim? It's surprising how many serious scientists think this could all be an illusion. 



https://en.wikipedia.org/wiki/Simulation_hypothesis

I do not think science and technology mix well sometimes. Scientists think that this whole idea of virtual reality and virtual world is just science fiction, however, I think that there may be a chance for us to live in virtual world kind of setting. I do not think brain-computer interface will work but we could have something like the OASIS in the future. After all, we already have Second Life today.

I think it could happen in the future which we know that new technology will be invented and will help our life. And if you watch a movie about science and technology, you might see that we have a possibility to use that technology in the future. Everything that is happening in the world came with a dream, a dream to make a simple life and human still create something to make it happen, and it's not an illusion. Maybe we cannot see it happen in five or ten years, but we might see it after twenty years from now when the technology and science growth.

[Saunder2018]

If we lived in a virtual world we wouldn't need any physical money. All forms of transaction would have been wired and cryptocurrency could have been the currency if innovations were to go like present times.

[Edoanidd551]

Bitcoin is currently the king of the cryptocurrency world, so yeah if we all live in a virtual world there is a possiblity that it will be official currency. But ethereum will also be a great altcoin competitor for the spot too.

[Zorewen011]

I don't think every nation will unanimously agree to one currency. Rather it is more likely that bitcoin will be established as one of few global methods of payment. There are few altcoins which could actually be of widespread use because they are just so good.

[Drelalind110]

It could be a possibility. But it's a debate if it would be agood idea or not. Again all the other countries may not agree at all.

[BTTmod]

In stature, it could be the equivalent of the US$ for the virtual world indeed.

[Areding]

Wow) it's a very interesting question. I think that yes, in the virtual world, Bitcoin will be the national currency, but other currencies will also be, as in the real world there are dollars, euros, so there will other currencies exist.

[ShawnNathaniel]

I was rewatching Ready Player One earlier with my nephew and this thought came to my mind when I saw the prize money. If, for example, we live in a virtual world (however you describe your understanding of a virtual world) do you think we will only have one currency to use and that is bitcoin? Or will we still have different coins (altcoins)?

It has a big possibilty that bitcoin will be the official currency if we live a virtual world. I can't imagine how fast the transactions will be.

If this is mandated by the government that's a good idea. There's a lot of benefits we can get using bitcoin as an official currency in virtual world.

[ClassyDancer]

I think it will depend on who will create this so-called virtual world. Whoever’s designing it may want it’s own crypto too for a more seamless execution of going virtual, right?

[BADecker]

I think we already live in a virtual world.

For example, we often make decisions based on what is going to happen and why. Then some of our decisions produce results that are not what we wanted them to be.

If we had been living in a real world, we would have the results we had thought we were going to get.

[Lintormi]

where is the connection between the virtual world and Bitcoin and the cryptocurrency as a whole? But even if we live in the virtual world, we will never know the answer to this question.

[Ladysmith]

For there to be a virtual world, there has to be someone who owns the virtual world, and they'd be stupid not to create their own currency for everyone to use within. It would simplify everything and the currency itself would hold immense value.

This may be our future.

[daarul50]

I can say that true bitcoin can be the official currency if everyone lives in cyberspace because bitcoin is the single most valuable asset today in the digital world where in the real world all people who understand technology and bitcoin are competing to get as much bitcoin as possible.

[BADecker]

If we lived in a virtual world, as soon as we realized it, we would be working to get back to the real one. Real Bitcoin is more exciting than virtual Bitcoin.