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Author Topic: Will bitcoin be the ideal currency of the future?  (Read 1384 times)
Em00n01
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April 27, 2020, 08:00:28 PM
 #61

I am not fully agree with you. This is not the definition of ideal currency also sometimes Bitcoin is manipulated by whales. But what i can say is Bitcoin is a good alternative currency for future.

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April 27, 2020, 11:14:18 PM
 #62

-- We are also aware that not every country and not every individual in that country can afford to have Bitcoin, more or less use it and put it into action. Poor families and third world countries are actually relying more on easy, fast, and convenient money to have. Even though Bitcoin promises a huge amount of money, people would still go with fiat to buy rice on a simple store.
True, the issue of adoption and effectiveness for use at all levels of society is still not optimal. Moreover, bitcoin is very volatile, it is enough to make it not ideal as a currency. I agree if bitcoin is used as an alternative currency to support fiat shortages, however, we must take advantage of this technological progress, but that does not mean it must impose an environment that is still not ready to fully accept changes.

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April 27, 2020, 11:20:48 PM
 #63

I'll just say that "NOT SURE" about its future.
We can't deny how people give their approach and market appreciation in crypto. The adoption isn't really stronger as we think before, even during the pandemic we can't still find that the support resistance and adoption rate still low. People are giving interest for sure but wondering they change their mind because not all establishments are accepting this, they are still be looking fiat instead.
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April 28, 2020, 08:24:40 AM
 #64

This is quite possible, but most likely bitcoin will remain only an asset and nothing more.

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April 28, 2020, 10:45:21 AM
 #65

I think not. Bitcoin is an idea. But we need something new. Something more universal.
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April 28, 2020, 01:33:49 PM
 #66

I don't think that it would be possible in future, even though cryptocurrency has been used by so many people around the world, even though it is really helpful for everyone who is using it, it cannot still be a standard currency in the future because as what we all know it is decentralized, which means it cannot be handled by the government and its volatility makes it not suitable to be used for daily lives.

I think cryptocurrency is only good as an alternative currency for fiat currency, it is meant to be converted to fiat currency whenever we want to.
Most likely, everything will be so, the main property of any currency is stability, when both the buyer and the seller know the approximate cost without additional sources. And with cryptocurrencies there can be very strong fluctuations, and without tracking the course for a couple of days, you can lose a lot.

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April 28, 2020, 03:23:01 PM
 #67

Everybody can’t make use of Bitcoin. For a start, a lot of these billionaires and millionaires will buy up the cryptocurrency and the majority who are poor wouldn’t have anything left. That aside. If it happens that we all start making use of cryptocurrency, there are some ways that it’s not going to be good. With cryptocurrency people will be able to do whatever they want and they will hardly be a means to trace them.

It is a decentralized currency and no one can control it, which means the government will also not be able to control it. I know that a lot of us here don’t like the fact that fiat is being controlled by the government. The control is important, except that they tend to misuse it.

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DevilSlayer
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April 28, 2020, 03:34:28 PM
 #68

I'll just say that "NOT SURE" about its future.
We can't deny how people give their approach and market appreciation in crypto. The adoption isn't really stronger as we think before, even during the pandemic we can't still find that the support resistance and adoption rate still low. People are giving interest for sure but wondering they change their mind because not all establishments are accepting this, they are still be looking fiat instead.
People want to have or to buy bitcoins but majority of them have different purpose which is simply investing, there are only few people who view bitcoin as a new payment system that can replace our current system. There is now a adoption but it is too slow, the people nowadays are still focusing to buy things through cash. One of the problems why we do not have successful adoption is because of the lack of education where many people are still not aware to what it is and how to use it.
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April 28, 2020, 10:44:36 PM
 #69

This is an obvious NO. Just as horse and carriages are not ideal modes of transportation.

An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.

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April 28, 2020, 11:13:31 PM
 #70

Everybody can’t make use of Bitcoin. For a start, a lot of these billionaires and millionaires will buy up the cryptocurrency and the majority who are poor wouldn’t have anything left. That aside. If it happens that we all start making use of cryptocurrency, there are some ways that it’s not going to be good. With cryptocurrency people will be able to do whatever they want and they will hardly be a means to trace them.

It is a decentralized currency and no one can control it, which means the government will also not be able to control it. I know that a lot of us here don’t like the fact that fiat is being controlled by the government. The control is important, except that they tend to misuse it.
Exactly. Although bitcoin and other cryptocurrency have more advantages related to transparency, speed, transaction security, etc. but this niche cannot touch the entire community. Only limited to certain communities. In addition, high volatility makes cryptocurrency less effective as a means of payment. Facilities and infrastructure to be connected with technology and the internet must be adequate. Maybe, if one day the development is evenly distributed, the government has the best solution to develop with cryptocurrency, this might be a good alternative.

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April 28, 2020, 11:23:10 PM
 #71

Maybe, if one day the development is evenly distributed, the government has the best solution to develop with cryptocurrency, this might be a good alternative.

But the government DID create Bitcoin. You know that right? Oh yeah, I forgot they don't cover that on CNN.

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April 28, 2020, 11:37:47 PM
 #72

This is an obvious NO. Just as horse and carriages are not ideal modes of transportation.

An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.

Bitcoin is transparent but it's also private.

When I pay for something with Bitcoin the other side doesn't know my name so it is private in that matter.

To fully use the privacy it offers you have to buy it from someone else in person, mine it or earn it. You cannot use a centralized exchange.

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April 28, 2020, 11:51:35 PM
 #73

This is an obvious NO. Just as horse and carriages are not ideal modes of transportation.

An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.

Bitcoin is transparent but it's also private.

Bitcoin is not private. The NSA created it with the intent purpose of tracking payments globally.

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April 28, 2020, 11:53:24 PM
 #74

This is an obvious NO. Just as horse and carriages are not ideal modes of transportation.

An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.

Bitcoin is transparent but it's also private.

When I pay for something with Bitcoin the other side doesn't know my name so it is private in that matter.

To fully use the privacy it offers you have to buy it from someone else in person, mine it or earn it. You cannot use a centralized exchange.
•Anonymous
•Decentralized

These are the main features on why bitcoin is being supported by big community due to that p2p system that there no 3rd party involved
which totally contrary on what we have used traditionally with fiat but i dont see for it to replace fiat soon just like what been said by
some people.Being optimistic isnt bad but they should be at least realistic.

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April 28, 2020, 11:55:53 PM
 #75

This is an obvious NO. Just as horse and carriages are not ideal modes of transportation.

An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.

Bitcoin is transparent but it's also private.

When I pay for something with Bitcoin the other side doesn't know my name so it is private in that matter.

To fully use the privacy it offers you have to buy it from someone else in person, mine it or earn it. You cannot use a centralized exchange.
•Anonymous
•Decentralized

These are the main features on why bitcoin is being supported by big community due to that p2p system that there no 3rd party involved
which totally contrary on what we have used traditionally with fiat but i dont see for it to replace fiat soon just like what been said by
some people.Being optimistic isnt bad but they should be at least realistic.

This post contains so many errors, I don't know where to start.

Bitcoin is not private under any circumstances. If I buy BTC from someone in person, the seller can track my payments.

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April 29, 2020, 12:49:59 AM
Merited by MicroGuy (1)
 #76

No.
There is a tendency to believe that bitcoin is the solution to "x" situation, it is actually just an asset that contains a powerful message.

Its value, its technology, etc., including its influence on other cryptocurrencies and on Fiat themselves, are essentially only part of the message, but it seems to be the brilliance that some want to see, and with good reason.

The great value that Bitcoin has and has had since its inception has been trust, if two users had not had the trust, Bitcoin would not have been what it is and will continue to be as an asset.

Bitcoin has to be interpreted as the social message that if confidence-based consensus can be achieved, we can demand global economic and social change.

The cryptocurrencies of the future must be a fair currency that establishes a social balance from the beginning and that offers equal opportunities to all. Sharing the profits of each country among its citizens is possible and they decide how to invest how these resources are spent and are supervised.

In short, it is a cryptocurrency that does not currently exist based on a social and economic system that does not exist either, but that bitcoin has the clear message that it is possible.


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pixie85
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April 29, 2020, 09:54:18 PM
 #77

This is an obvious NO. Just as horse and carriages are not ideal modes of transportation.

An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.

Bitcoin is transparent but it's also private.

Bitcoin is not private. The NSA created it with the intent purpose of tracking payments globally.

So you're one of those conspiracy theorists  Roll Eyes

Does it really matter if the NSA, an institution with no global jurisdiction, finds out that someone from Austria sent some money to someone in Russia? What are they going to do with that information, not knowing what the payment was for?

MicroGuy
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April 29, 2020, 11:23:06 PM
 #78

This is an obvious NO. Just as horse and carriages are not ideal modes of transportation.

An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.

Bitcoin is transparent but it's also private.

Bitcoin is not private. The NSA created it with the intent purpose of tracking payments globally.

So you're one of those conspiracy theorists  Roll Eyes

Does it really matter if the NSA, an institution with no global jurisdiction, finds out that someone from Austria sent some money to someone in Russia? What are they going to do with that information, not knowing what the payment was for?

Do you not think that governments cooperate? I think you might want to rethink your ideas if that's your definition of privacy and freedom.

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rodskee
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April 30, 2020, 11:21:49 AM
 #79

Bitcoin is the Future Of Cryptocurrency because economic analysts predict a big change in crypto is forthcoming as institutional money enters the market. We know that Bitcoin is a digital currency created in January 2009 day by day bitcoin price is rise. it is possible to pay for goods and services with Bitcoin both online and offline, but it is only accepted by a minority of merchants so i think its the best for future.
Actually the thread talks about the world currency and not just for crypto meaning the battle from Fiat to Crypto is on in this thread mate if you will
Only read the topic and the OP,but i think your point is valid in this one.
And it is not only the analysts can tell the true
Because we as users for years now knows how this cryptos are promising and
Also the right way to attract our family and friends to enter and invest in this market.
What I believe more is that sooner for the next years we will see the effect specially after this Covid-19
Case because more people now are trying to learn about this crypto currencies .

Yamifoud
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April 30, 2020, 11:26:18 AM
 #80

If we are talking about being considered IDEALy, it could be possible but we are still far from that point. Look at today, we think that the current situation will bring people to adopt the system but unfortunately, they are usually ignoring instead they are selling their Bitcoin for FIAT. And that could possibly be happening again in the future. May we saw people love doing cashless payment but it was obvious that they are not using crypto/bitcoin, they are still using fiat money.

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