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Author Topic: ALTCOIN IS IN LINE WITH THE HISTORICAL EVOLUTION OF PAYMENT SYSTEM  (Read 192 times)
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October 18, 2019, 08:41:14 AM
Last edit: October 18, 2019, 04:02:32 PM by GMMC
 #1

Despite the legal frustration faced by Libra and GRAM, altcoin is in line with the historical evolution of payment system; from bartering to the first coin ever minted (in 600BC)  to bank notes to credit card.

In my opinion, full decentralization might not be achieved at the time being but if altcoin survives this phase of trial time, crypto market will witness a massive adoption compare to the previous years but in a very slow pace.
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October 18, 2019, 09:23:09 AM
Merited by tk808 (1)
 #2

Despite the legal frustration faced by Libra and GRAM, altcoin is in line with the historical evolution of payment system; from bartering to the first coin ever minted (in 600BC)  to bank notes to credit card. In my opinion, full decentralization might not be achieved at the time being but if altcoin survives this phase of trial time, crypto market will witness a massive adaptation compare to the previous years but in a very slow pace.

I believe that centralized coins can have a role to play in the overall cryptocurrency market but we should always remember that this is not the step forward we are all wishing for, in fact can be a step backward from where we are now. Maybe you must be referring to market realities that we also have to contend with, we could not get away from big organizations (like Facebook and Telegram) that have the resources, clout and influence to make a project really works.

Facebook's Libra can definitely improve on the adoption rate as the very social media platform itself is representing billions of people, the same thing with Telegram. But is the only we can push forward the adoption...not other viable way? Should we sacrifice decentralization for adoption? These are the things running in my mind right now.
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October 18, 2019, 09:38:48 AM
 #3

In my opinion, full decentralization might not be achieved at the time being
Has a point. Although as a community we can achieve by simply agreeing even without the authorities but we're still living on different jurisdictions that has laws to follow so that's why considering the full decentralization is going to be a bit far from now. But we don't know what will happen in the future.

but if altcoin survives this phase of trial time, crypto market will witness a massive adaptation compare to the previous years but in a very slow pace.
We will be there but the altcoin market is too crowded and there should be an extermination before this massive adoption to come.

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October 18, 2019, 10:06:12 AM
 #4

Trial is part of the process and once this industry complies with all the basic rules and regulations, no one can stop its growth, everything just need to be at right place. Companies want to be involve need to sweep their ground first to get nod of regulators.



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October 18, 2019, 10:13:54 AM
 #5

Time is what this technology needs, whatever we are experiencing right now is just normal challenges and trials and i am sure it will be over soon, altcoins need to hang in there and once this period did the most a big changes will take place..

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October 18, 2019, 10:27:22 AM
 #6

Yes many different altcoins here are very useful and helpful like in different transaction then in different investment here in crypto world

So digital currency really make history like with future then many adaption are happen already for so long period of time like it start with Bitcoin then continue with alts,tokens then stable coins also

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October 18, 2019, 10:35:58 AM
 #7

Despite the legal frustration faced by Libra and GRAM, altcoin is in line with the historical evolution of payment system; from bartering to the first coin ever minted (in 600BC)  to bank notes to credit card.

In my opinion, full decentralization might not be achieved at the time being but if altcoin survives this phase of trial time, crypto market will witness a massive adaptation compare to the previous years but in a very slow pace.

Altcoins have a bright future for me although it has to be the best among them only. Altcoins are already overcrowding the world of crypto. While many of them have already died and many are also being treated as nothing, it is my estimate that if the world will finally adopt cryptocurrency as the main alternative to fiat, altcoins have a huge role to play. The conversion of the old world into a digital one would really help the need of other digital currencies aside from Bitcoin.
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October 18, 2019, 12:15:48 PM
 #8

I think that the evolution of cryptocurrency will lead to one altcoin with the best technical characteristics that are possible. At the same time, a some number of specific altcoins will remain (not as much as now Wink). This can be compared with the globally recognized dollar and other currencies.

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October 18, 2019, 12:37:45 PM
 #9

Despite the legal frustration faced by Libra and GRAM, altcoin is in line with the historical evolution of payment system; from bartering to the first coin ever minted (in 600BC)  to bank notes to credit card.

In my opinion, full decentralization might not be achieved at the time being but if altcoin survives this phase of trial time, crypto market will witness a massive adaptation compare to the previous years but in a very slow pace.
That's very similar to the dotcom bubble, i should agree with your statement if the decentralization will not be achieved but at least they will be keeping it as a part to create a good platform. The decentralized can help the altcoin to get a better security that can protect the platform.
I believe it can't be fully decentralized since the regulator will always never allow altcoins become decentralized and altcoins must follow all of the regulation to start an operation in such country.
The mass adoption is slowly growing a lot. But my point is altcoin is in line with the evolution of payment system consider any blockchain that has already developed in various altcoins are focusing to put the scalability problem at the top of the development progress and that was having a very important relationship with the evolution of the payment system.


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October 18, 2019, 12:52:38 PM
 #10

Despite the legal frustration faced by Libra and GRAM, altcoin is in line with the historical evolution of payment system; from bartering to the first coin ever minted (in 600BC)  to bank notes to credit card.

In my opinion, full decentralization might not be achieved at the time being but if altcoin survives this phase of trial time, crypto market will witness a massive adaptation compare to the previous years but in a very slow pace.

Altcoins have a bright future for me although it has to be the best among them only. Altcoins are already overcrowding the world of crypto. While many of them have already died and many are also being treated as nothing, it is my estimate that if the world will finally adopt cryptocurrency as the main alternative to fiat, altcoins have a huge role to play. The conversion of the old world into a digital one would really help the need of other digital currencies aside from Bitcoin.

The issue with altcoins is that most aim to solve same problem, without any major improvement. Too many altcoins sprout on weekly basis and if it continues this way, people will be confused on which altcoin to invest in.  Project team members need to think out of the box to come up with something that will be easily adopted in real world, not doing similar projects over and over gain. Adoption won't be easy to come, we all just have to be super patient.
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October 18, 2019, 12:58:00 PM
 #11

There is a failure with the Credit card and Debit card in the whole world. This is also the problem that is facing with cryptocurrency.
We all know that in every country or most of them, not all places having card transactions due to internet connection issues.
There are so many countries who have no good provider with this connection if they have not the whole territory.
And not just that, we even in urban places or in shopping malls sometimes experience the off-line and we can't use the plastic cards to pay the bill.
So, how can we have this evolution to step-up in full cryptocurrency if the system is depending on the connection of the internet? how about those who don't know how to use the digital evolution?

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October 18, 2019, 01:01:16 PM
 #12

Cryptocurrencies are the obvious next evolution of the payment systems, but we don't know if that is going to be decentralized OR centralized cryptocurrencies. I think that once with the new technological era a paradigm shift is needed in the world so we can leverage the "trustless" power of Bitcoin and blockchain. The effects of currency centralization is yet to be faced hardly by the population. Look at the debt of United States, how are they going to cover that. I'll tell you: by creating more debt, thus the us dollar will fall like a rock.

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October 18, 2019, 01:10:45 PM
 #13

Only the strongest altcoins can bear the critics and survive on this current trend, the altcoins season can still happen and we can achieve it with a big help of bitcoin. The evolution of payment is getting better and faster, altcoins are doing its best to survive, they will do their best so look only for the top coins.
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October 18, 2019, 01:34:47 PM
 #14

We are in the process of surviving in the trial, there will be many trials happen in the future for the altcoin. because the adoption requires resources and we do not have it now to cover all of our current altcoins. Decentralized or not, it does not matter anymore because only the survived one will be used and adopted by people.
but will you be able to hold it despite knowing it?
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October 18, 2019, 01:39:05 PM
 #15

Yes you are right. Cryptocurrency is going forward with the indication of its massive adoption. So far only few countries are on track to adopt cryptocurrency and few countries and business hubs have started accepting it in the method of payments. Regulators and authorities talking about bringing  regulations in place aim to adopt cryptocurrency.   

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October 18, 2019, 01:44:52 PM
 #16

Altcoin time would come sooner or later, because they are representing the true revolution in payment sector, by providing a working solution like 100,000 transactions per second and low transaction fees, but it would take a long time till those will get adopted.
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October 18, 2019, 04:17:06 PM
 #17

The father of all coins which is Bitcoin is in the process of achieving mass adoption and if succeed then I'm pretty sure that altcoins will follow but not all of them because there are lot of unnecessary coin that needed to be remove first before the full realization.

 
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October 18, 2019, 04:48:15 PM
 #18

Sure, there will be a massive adoption in the end but with the regulations and the way they have turned crypto into real money like system they are not really worried about crypo anymore. Look at USDT for example, those dudes keep printing money whenever they want and they buy bitcoins with it anytime they want and let it go down after a while and then do it again so they are collecting all the bitcoins in the market, what do we get in return?

A useless USDT product that you can't even turn into cash anymore, they literally said it was backed 1to1 ratio back when they started but then confessed that its no longer backed 1to1 and people still eat it up and buy it, so as you can see the governments do not care anymore, they got themselves another cash cow anyway.

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lionheart78
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October 18, 2019, 05:00:20 PM
 #19

Despite the legal frustration faced by Libra and GRAM, altcoin is in line with the historical evolution of payment system; from bartering to the first coin ever minted (in 600BC)  to bank notes to credit card.

In my opinion, full decentralization might not be achieved at the time being but if altcoin survives this phase of trial time, crypto market will witness a massive adoption compare to the previous years but in a very slow pace.

Full decentralization will never be achieved as long as there is this institution called the government.  Let's just accept the fact that with government regulation, any decentralized cryptocurrency will be centralized through a third party platform wherein the addresses will be attached to the identity on that platform.  Altcoin adoption will not be slower than before, I believe it will propagate faster because of the  activities and campaigns done in the past. 
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October 18, 2019, 05:17:54 PM
 #20

Indeed adoption is a reason that is a major problem in the crypto space and this is also made worse by government regulations that do not support crypto. But I'm sure that someday adoption will be achieved and the government will realize that there are many benefits they can get from the crypto space.


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