Future and current Humanity, Bitcoin, Gold and Fiat.

[Arkann]

I already wonder why the dollar is still the world currency and is popular without being backed by gold or another recognized asset.

This your curiosity I think is also in the mind of many. I think in my own opinion the reason I could adduce is because US dollar is one country that has done so many humanity project including allowing different regions of people into there country, that means the medium of financial exchange has to be in dollar. That begins to build to up in different spheres of life including international trade and exchange. Apart from being among the world powers, US tend to play a big brother role etc. I think they have a liberal mindset. My thinking , might be wrong well...

Says who, probably you are from America, that is why you are making all these statement, because if you know what trump is doing to other countries you will not be saying this now, it was when Clinton and Obama was still in  power that I could attest to all these that you are saying but ever since trump assumed power, it has been really hell for most countries and they are becoming unfriendly day by day, which is why their dollar might be losing value very soon and probably china will take over.

Recently, I heard that Nigeria was going to dump the coin and then partner with china to use Yuan if not because their legislative never approved it, by now, the dollar would have become like a toilet roll in their country same as it will be in my country soon.

I can’t even understand how fiat money can be uncomfortable for people today.  Of course, for us who spend almost more of their life on computer monitors, spend on cryptocurrency exchanges, cryptocurrencies are most suitable as a means of payment.  But we must understand that most of humanity is not yet ready to use cryptocurrency.  And regarding gold, then this precious metal will be valuable at all times.

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[HELLOFF]

In any case, gold was valued throughout the entire existence of mankind.  I think that gold has proven its worth, while cryptocurrencies still have a lot to go through, including not only legalization, but also real recognition by humanity.

[sana54210]

In any case, gold was valued throughout the entire existence of mankind.  I think that gold has proven its worth, while cryptocurrencies still have a lot to go through, including not only legalization, but also real recognition by humanity.

Gold has proven its worth really but I think that it is already getting too old, and needs to be replaced by a digital asset and this is where bitcoin will function perfectly, as a digital asset, After all government claims that bitcoin cannot be a currency, and if they dint want it has currency, they should not worry because we have got that one too covered, it can also serve as digital store of value that would later replace gold in the future.

I know that there are going to be so many people that will doubt this, but time will tell, as bitcoin keeps growing, most people you see prefers to just old it than even use it and I think because it is easier to access than gold, people embraces it a lot, and this is why I believe that in future it could replace gold.

[BitHodler]

Gold has proven its worth really but I think that it is already getting too old, and needs to be replaced by a digital asset and this is where bitcoin will function perfectly, as a digital asset

Gold has served people for thousands of years, so there definitely isn't anything 'too old' about it. People will more and more appreciate hard assets such as gold the more digitalized the world becomes.

Gold is pretty much the only smaller physical object that allows people to store a lot of their wealth in it. Gold won't be going anywhere. A lot of Bitcoiners seem to be out to diversify their holdings into gold when their high price target is met.

After all government claims that bitcoin cannot be a currency

It depends on the actual definition of a currency, but putting it against fiat currencies, Bitcoin doesn't stand a single chance today. How will you serve the mass with 5 transactions per second?

It's just going to be a digital store of value and transfer of value. Characteristics of gold, but then more convenient.

[abhiseshakana]

Talking about the future is talking about prediction and a series of simulation of development and role of a human in this process. Now is the digital age and the next year will be increasingly sophisticated. Technology will make humans life easier, many human roles will be replaced by robots, the education we carry from elementary school to college is no longer relevant and we will look for what makes us able to survive in this digitalized world.

All agree that development must not exclude the humanity, what must be built in the quality of human resources, especially character education from an early age technological development is a must but many aspects of humanity cannot be replaced by robots like love, affection, curiosity & creativity. So habituation of positive characters according to religion and creativity-based education is needed as early as possible to prepare for the digital age.

In the future economy, bitcoin will find its heyday, although in the end gold remains the best medium of exchange.

[davinchi]

Technology doesn't bring too much improvement to humans itself, it brings improvements to humans lives. We can see even right now in 2019 that there are people who are racist just like 1950's for example, the world has changed so much in the past 70 years but those people are still saying the same thing. Or people in china trying to control over Hong Kong, that is decades old situation which started to happen once again.

Hence, I think technology can change peoples lives but it can't change people itself, you have to have a total cultural change for that to happen and neither bitcoin nor gold and not even fiat can achieve that, it is at the hands of politicians to change the culture by implementing hardcore laws but considering they are getting paid by corporations or focusing on the vocal people for votes, that doesn't seem likely.

[muhhentuhhen]

In any case, gold was valued throughout the entire existence of mankind.  I think that gold has proven its worth, while cryptocurrencies still have a lot to go through, including not only legalization, but also real recognition by humanity.

The reality is curious: it is difficult to say what is better. According to experts, nowadays modern money by itself is not provided with anything material. However, exchange rates are constantly changing in relation to each other. Cryptocurrencies have become the leaders of growth and fall. But, as the history of the value of various precious metals shows, they are also not stable. Once, gold was worth about 2 thousand dollars per ounce, and then it fell almost twice.

[barbara44]

I’m not really getting your point here. Why do you now blame the schools for something that doesn’t has to do with them? The government set the rules and schools, you just go thereto learn, they were not the ones that said that you have not pay up to that for double spending. If you feel that is too much then you should stop double spending and start splitting your orders so you don’t have to pay extra. Even you thinking that bitcoin is going to be a savior is wrong as well.

If cryptocurrency is going to replace the current system we are making use of now, then that means that everything about it is going to change. The government will start to regulate it just as they regulate conventional currencies, and that means a lot of things are going to be changed. You wouldn’t pay low fees anymore for the transaction, and there wouldn’t be anything as anonymity again. And the world switching to cryptocurrency doesn’t mean that you wouldn’t have to pay taxes any longer, nah you will still pay them, because then it will be regulated by the government and there is no way you can escape paying tax.

So, don’t think that cryptocurrency will be anything better than the Fiat we are using now. I will prefer that things remain the way they are, because I don’t want the government to take over cryptocurrencies.

[armarsterling7]

I think the fact that all these things help you buy the good things in life means they are going to be here for a long long time.
But at the same time things might get obsolete sooner or later , for example in the ancient times people used to use gold for trading and all and slowly they realized they need to use a currency and eventually we started finding alternatives and money was here and currency is evolving timelessly and I don't see why we won't be able to see an era where cryptocurrencies are the new Fiat..

I understand that crypto trading is really fast and convenient, saving transaction costs. That is its positive side. But about the negative?
Where will the historical significance of fiat money, the extent of the country's potential assessment and other political factors go?
Cryptocurrencies are really beneficial for humanity now but it should only be applied in some areas. I think that is the best solution.

[sirminesalot]

In any case, gold was valued throughout the entire existence of mankind.  I think that gold has proven its worth, while cryptocurrencies still have a lot to go through, including not only legalization, but also real recognition by humanity.

maybe it is not the time for crypto to be an investment tool equivalent to gold because we know that gold has become an investment tool even as a means of purchasing along with the times and many people are familiar with gold and fiat currencies but crypto currencies might also be like that if needed along with the development of technology that demands all to become digital currencies

[poptok1]

Can wealth ever be equitable in this world we're in? The world we're in has so many unfairness and the issue about money and wealth inequalities is a always a topic for another day. Maybe that issue will be solved in the afterlife (that's if it exists) but for now, i don't believe so.

Sure it can, question is, should it be done? You have mentioned the afterlife, I think we, as a species, should let the utopian ideas exactly where their place is, in churches, mosques and fables. Pursuit for recreation of this mythical paradise of equality, can only lead us to the opposite, that is hell. Exactly what we see today, with all those egalitarian movements ramping over majority to "save" minorities, as an outcome we are ending up in a clown world. World full of ridiculous restrictions, like the coffee conundrum OP posted.
Demo-liberalism is a false religion, that needs to be forgotten, otherwise propagation of socialism may inherently lead us in to "matrix" like reality. Not many people realise that Karl Marks, actually described the future of our world exactly like the movie portrays. Total liberation in the grasp of a machine, is nothing different form absolute enslavement.         

[Kersh768]

Hello fellow humans, My name is irrelevant but the message I bring is not. I am not here to make any more fiat money or bitcoin or here for any merit or reputation, I just here to give my two senses about economics, common and logical, not to many people use these now a days.

I blame the school systems and religions for they teach people what to think and not how to. I will not be giving my two cents because we don`t even have cents in circulation in the country I reside in (Canada), Which makes no sense.

Like What is this?
I pay 6$ for 3 coffee`s (I split my orders)
most pay $6.45 for the same thing (they get double taxed not splitting orders)
 
https://i.imgur.com/kVm7NzX.png proof of being ripped off, sorry the picture is bad, $2.00 for 1 coffee, $6.45 for 3.

A double tax for spending more money?  I understand people won`t be able to sell items at the dollar store if you double tax the cheaper items, but why punish the people buying more items or charging more for quality products? This has to be the most bullshit double tax in the history of humanity.

Since this picture they upped the price a little, now I lose 2 cents dust every time I go to buy two coffee`s because it is $4.03, and we can`t give them $4.03 we have to give them $4.05 because we round up, because we don`t have cents or the penny like we used to because of inflation the penny`s metals is actually worth 5 cents to make. So guess what I still split my coffee`s and get them both for $4.00 instead of $4.05 or $6.50 if I get 3, I split them all for 6 still. I lose dust every transaction or the business's I deal with do.

^ I know future generations are going to look at this and be like wtf were these people smoking, because I still am.


Anyways before I get into bitcoin I want to talk about fiat a little more, in fact just watch the first 9 minutes of this please.
https://www.youtube.com/watch?v=LszOt51OjXU Bitcoin Beyond the bubble

So now I hope you understand why bitcoin is around, our money used to be backed by gold before Nixon en$laved us all, he did not want to be JFK 2.0ed in 1971.
Roosevelt stole pretty much all the gold anyways with https://en.wikipedia.org/wiki/Executive_Order_6102 Executive Order 6102 required all persons to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve.

Now they print money out of thin air, it`s called fiat, in unlimited amounts, while the rest of us work for it. We give our limited time for their unlimited supply, and here is the kicker they tax us on it, 30% here where I live.
So that is 130% of my work I give for free, for some delusional monopoly money.
We are endless $laves to fiat and they turned all the real worlds wealth (gold) into something no different than monopoly money.
Bitcoin solves us being unlimited $laves, by only being a certain amount of it that cannot be duplicated and not being able to be made out of thin air, They also cannot just steal it from us in person like they did before, they need to know our key.

They had to stop backing the money with gold because they were fractional reserve banking, banks were spending money they did not even have, spending others moneys. That is why you see all these banker bailouts.
https://en.bitcoin.it/wiki/File:Jonny1000thetimes.png Genesis block message.

But anyways, I found a problem with limited supplies in a huntercoin alt blockchain coin.

It shows the ending of mining and what happens and what is happening. It is a simulation of bitcoin and gold.
So "fiat" might actually be good.

https://www.youtube.com/watch?v=Y7TLFyK_3Pk The simulation explained a little.

Now I am not saying the current fiat is good, if anything it`s a $cam, but we could make a fiat that is legit and backed by time and distribute the supply equally amongst all participants in the network. So it would actually be fiat backed by time, kind of how it took time to mine the gold and bring it back home. We knew it took time to get the gold in the past and that is why we valued it so much as a currency. In sense it would be a limited and unlimited supply, limited to the point where you die and unlimited to the point where what happens in this simulation does not happen in real life.

If we cap supply of money and do not cap supply of human population we run into some serious problems in the future. As limited supplies become more limited.

With the current system now, I don`t think you guys realize yet, but because of some dumdums thing called "interest" everyone is going to become "rich" in the end anyways. If we don`t have to pay back this "debt".
Think about it, you have 20 million in a account, you can`t even spend the interest each month if you wanted to.

TL:DR I hope some smart wiz kid or elders read all of this and can fix our world for the future of our kind, sincerely another human that does not have much time left and sucks at coding and public speaking, but can see the end game of everything.

The world is currently in great need of people who has the ability to change the current system of the world. The fiat everyone is using today is full of lie, we spend it in many ways but the truth is only those who are in the higher table gets to benefit from it. We act like we are their slaves, working hard everyday just to survive from the expenses we are tied up to pay. If we want real change, we should let a new system take over the world so that we can live on better economy and a better system.

[jrrsparkles]

In any case, gold was valued throughout the entire existence of mankind.  I think that gold has proven its worth, while cryptocurrencies still have a lot to go through, including not only legalization, but also real recognition by humanity.

maybe it is not the time for crypto to be an investment tool equivalent to gold because we know that gold has become an investment tool even as a means of purchasing along with the times and many people are familiar with gold and fiat currencies but crypto currencies might also be like that if needed along with the development of technology that demands all to become digital currencies

Blockchain is going to one of the futuristic technology on which bitcoin is running and other cryptos as well so we are not yet ready for the development we achieved with cryptos so the technology and knowledge of users needs to be evolved more to accept cryptos but comparing cryptos with gold is also a stupid thing both has no reason to be compared other than its expensiveness which really got from its worth.

[justdimin]

Wealth doesn't have to be equal, nobody really should be rich like all together, that is not quite possible and shouldn't be done. What is possible is a fair economy with good regulations and taxes that allows people to live a comfortable live at the worst of finances.

Just to give an example, if oil companies and banks and what not didn't bribed the politicians in USA and politicians didn't accepted the money then right now we would have bad oil business and banks with fair tax paying instead of putting all their money in panama, which would result with billions upon billions of dollars all going into taxes and that would allow government to either get less taxes from the poorest (one guy paying 10 million dollar extra tax could equal to thousands upon thousands of people paying almost zero tax) or they could just help people out like medicare for all.

[huu78]

I agree with you that all in the future there will be such problems either from Fiat, gold and digital currency cryptocurrency.
Only the cryptocurrency still takes time to be legitimate and supported government in some countries so that the distribution or transaction can be more secure as the Fiat you say.
Recently China adopted the blockchain and we are just waiting for another country to adopt them in order that cryptocurrency is in the eyes of the community and make future economic problems can be resolved.

[Wintersoldier]

In any case, gold was valued throughout the entire existence of mankind.  I think that gold has proven its worth, while cryptocurrencies still have a lot to go through, including not only legalization, but also real recognition by humanity.

We can take that gold has been served the mankind very well from the past until now, but we are now in the digital age where rapid innovation takes place and we should take advantage of the technologies that are worthy enough to help us make our lives easier. In terms of acceptance and adoption, there's not much issues concerning recognition by humanity as cryptocurrency is not forcing itself to be accepted by the people. The only obstacles that it has is about being accepted by most government. It lacks support in some countries that makes it hard for crypto to be further develop.

[meliodas]

If nothing goes wrong and if the government will accept and acknowledge the blockchain technology from the cryptocurrencies then I think we will be heading into a bright future. There is a lot of talented and genius people around the world that are waiting for opportunities to maximize their knowledge and if we will utilize those people, I think our world will become so advanced.

[NathanJB]

If nothing goes wrong and if the government will accept and acknowledge the blockchain technology from the cryptocurrencies then I think we will be heading into a bright future. There is a lot of talented and genius people around the world that are waiting for opportunities to maximize their knowledge and if we will utilize those people, I think our world will become so advanced.

The governments are starting to acknowledge the blockchain technology but not the cryptocurrencies. Many governments are not even acknowledging Bitcoin, the closest cryptocurrency to the growing blockchain technology. They are taking what they can make use of and benefit from and then leave behind what they think is not going to preserve or even increase their power and authority.

[Greed Dev]

The USA is not the whole world. Other states continue to live and back up their paper money with gold and foreign exchange reserves. If all states acted like the US government in 1971, chaos would have set in the world. I already wonder why the dollar is still the world currency and is popular without being backed by gold or another recognized asset.
Gold has existed for thousands of years, while cryptocurrency lasts only ten years. We do not yet know in which direction our financial system will develop further and how firmly cryptocurrency will take its place in it.

in fact, the United States is a country that can change the whole picture of the whole world. In their country, there are many unicorn businesses and they have a great influence on the outside world.
so the dollar is high and I believe it will be like that in the future and bitcoin or gold will depend on the US dollar a lot.

[Murat]

When you say about humanity as well as economy then it just like two different thing in a single frame, It's true that no economy could run based on the humanity so not Gold or Bitcoin market does not depend on the humanity, it's a totally different issue, if we become proper human then we don't have any problem, but we are always running after money and personal interest, so Gold, Fiat even Bitcoin can't solve our problem until we could not be a proper human, I don't believe that only economic policy or fiat or Bitcoin bring any improvement unless we could change our mind, Our future is in our hand, so at first we have been changed then everything will be changed.