The Future of Bitcoin Technology.

[Wenbing]

Truly, it has been said that we should create the future we want to see. In order words, if you want tomorrow to be great, then start working on it today.

That is how the software industry has developed and transformed from one forms to another until we now have the powerful software that support bitcoin, which are; Blockchain, Cryptography and Internet.

Here are what I’m thinking. The future is not far from us in software technological breakthrough.

1.The future of work is Contributor and not employee.
2.The future of platforms, systems and institutions is decentralization and not centralization.
3.The future of contract is smart contract and not trust contract.
4.The future of money is crypto and not fiat.


In your own opinion, what will be the impact of this revolution to ;
1.The governments.
2.To business.
3.To Individuals.
4.To World bodies such as IMF, UN, WTO etc

[Negotiation]

Bitcoin is certainly one of the inventions blockchain technology based on which the first crypto-currency was created Bitcoin is secure software Experts agree that the blockchain technology at the core of Bitcoin is highly reliable Banks and financial institutions should also use blockchain technology.

However, I think the impact of this revolution on business has no government or institution. Huge populations around the world are circulating these currencies through a kind of secure network No one is a policymaker, everyone is equal just a node in the network This coin will go from buyer to seller directly without an intermediary safely and surely There is no central form of this monetary system there has been complete decentralization It will be in direct demand through a peer-to-peer network of buyers and sellers.

[Debonaire217]

The government's first impression could be "Hell no". Why? How could they tax crypto other than taxing local exchanges? Plus, there are too many corrupt politicians, with systems being migrated to blockchain technology, there will be no more stealings, everything is transparent and broadcasted to the network.

for people, "This is Great" However, older people who already have difficulty in reading and learning new technology will suffer. Still, they will prefer credit card transactions as it is more convenient and you don't need to understand bitcoin wallet addresses.

for businesses, it is good, especially for supply chain management system to have blockchain, well distribution and tracking of goods and supplies will be easier.

Lastly, to world bodies,

Honestly, i don't really know where their funds came from especially when some nations asks for loans, how come they have money to lend? if bitcoin and cryptocurrency will be implemented too far, they can't just produce that tons of money, unless buying a huge portion of bitcoin's volume and becoming a whale that can control bitcoin's price.

These are some of my ideas and opinions, always feel free to correct me if I'm wrong.

[rezakurnia66]

The industry will continue to renew its technology. New industries and technologies achieve wider acceptance. Decentralized applications will play a larger role than ever before. 

The first technology is known to the government but does not approve of Bitcoin technology. But the government has now begun accepting Bitcoin technology. Cryptocurrencies are becoming increasingly popular among the community. The government knows that many people become wealthy because of Bitcoin trading, so the Government fully supports Bitcoin. The government is aware that this is like the field of work that can be utilized by everyone.

For business
Please note that the current problems that exist on the centralized system of financial institutions cost more to third parties. And third parties generally have certain rules and restrictions, so it becomes less effective and efficient.

However, that problem can be solved by a technology called Blockchain...

[20kevin20]

2.The future of platforms, systems and institutions is decentralization and not centralization.
3.The future of contract is smart contract and not trust contract.
4.The future of money is crypto and not fiat.

2. This is a highly deceiving thing. Institutions and systems are going more centralized than ever if you really pay close attention to what's going on. Remember, we're going digital. This means the transfer of all the info you hold is one click away.
4. If by "crypto" you mean a decentralized currency, no. I'd honestly prefer to have fiat rather than a centralized crypto - you wouldn't even be able to give your kid $10 to go outside without the possibility of being questioned by the authorities about your transaction.

In your own opinion, what will be the impact of this revolution to ;
1.The governments.
2.To business.
3.To Individuals.
4.To World bodies such as IMF, UN, WTO etc

Governments and world bodies will only take another shape, but will be more centralized and full of control hunger than ever. They already are in fact, it's just such a smooth change you don't even notice it. Businesses will not be that changed imo, it's all about adapting to new stuff. The currency they'll promote is probably going to be an easily adaptable system anyway, so it wouldn't be a big headache for them at all imo.

To individuals? Well, while I guess >80% of the adults and >90% of the youth will easily adapt to a new crypto system, the main and biggest concern remains the elderly. I don't know if we can go fully cashless within the next 3-4 generations tbh.

[Wenbing]

Bitcoin is certainly one of the inventions blockchain technology based on which the first crypto-currency was created Bitcoin is secure software Experts agree that the blockchain technology at the core of Bitcoin is highly reliable Banks and financial institutions should also use blockchain technology.

However, I think the impact of this revolution on business has no government or institution. Huge populations around the world are circulating these currencies through a kind of secure network No one is a policymaker, everyone is equal just a node in the network This coin will go from buyer to seller directly without an intermediary safely and surely There is no central form of this monetary system there has been complete decentralization It will be in direct demand through a peer-to-peer network of buyers and sellers.

Yes, that is what expert called disruptive innovation. Do you know what it means for bitcoin to displace central authorities such as banks and the government in financial transactions and operations? That is what the company called Airbnb did to the hospitality sector, where you don't really need a hotel to lodge comfortably.

But, what bitcoin will do is higher, as it eliminates many intermediaries in the financial industry.

<snip>
Honestly, i don't really know where their funds came from especially when some nations asks for loans, how come they have money to lend? if bitcoin and cryptocurrency will be implemented too far, they can't just produce that tons of money, unless buying a huge portion of bitcoin's volume and becoming a whale that can control bitcoin's price.

These are some of my ideas and opinions, always feel free to correct me if I'm wrong.

Every emerging technology always do two things; 1. it benefit some categories people and 2. It doesn't benefit some categories of people. But, the entrepreneurs will always win, they are the force behind innovation.

To answer your question on where do wold's leading institutions like IMF, World Bank, UN etc get their funds from. Every world body is made up of many countries as members. Every member country have financial obligation to the organisation. I believe their money comes from members.

[moderator's note: consecutive posts merged]

[DooMAD]

Yes, that is what expert called disruptive innovation. Do you know what it means for bitcoin to displace central authorities such as banks and the government in financial transactions and operations? That is what the company called Airbnb did to the hospitality sector, where you don't really need a hotel to lodge comfortably.

But, what bitcoin will do is higher, as it eliminates many intermediaries in the financial industry.

But when it comes to things like corporate research and investment into this technology, companies naturally prefer to invest in technologies that will help them make future profits.  Not technologies that would likely disrupt their business model and jeopardise their market share.  It has to be understood that, while the impact overall will likely be significant, the pace at which the change occurs will be quite slow.  Purely because the companies that understand that crypto is antithetical to the survival of middlemen know they are the intermediaries.  Many will try to develop "blockchain" because they've heard it's the latest thing, but many will eventually realise it will bring them no benefit.  So, this change is, for a large part, reliant on voluntary contributions.

It's going to take time.  Might be too early to say with any certainty what specific impact the changes will have.

[Josefjix]

[

Every emerging technology always do two things; 1. it benefit some categories people and 2. It doesn't benefit some categories of people. But, the entrepreneurs will always win, they are the force behind innovation.

To answer your question on where do wold's leading institutions like IMF, World Bank, UN etc get their funds from. Every world body is made up of many countries as members. Every member country have financial obligation to the organisation. I believe their money comes from members.

To further prove you right at the emboldened, money is created by those insitutions through loans given to the borrowers. That's why we need Decentralisation and financial freedom in blockchain technology.

[Janet H]

The near future of Bitcoin signifies not a substitute for fiat money however an alternative to people who want to take part in a more liberating fiscal system.  As authorities continue to put down the regulatory base for this new technology, volatility and risks will gradually dissolve to a brand new product which will bring exceptional creation to the world of fund.  Therefore, if you are considering departing the marketplace for great due to market conditions, maybe you ought to give that another notion.  Not only can it be time to HODL more vigorously than before but it is among the greatest times in the past several years to go into the marketplace.

[pawanjain]

1.The future of work is Contributor and not employee.
2.The future of platforms, systems and institutions is decentralization and not centralization.
3.The future of contract is smart contract and not trust contract.
4.The future of money is crypto and not fiat.


In your own opinion, what will be the impact of this revolution to ;
1.The governments.
2.To business.
3.To Individuals.
4.To World bodies such as IMF, UN, WTO etc

It's good to be ambitious about crypto and technology in general but we should never expect too much from anything.
I am not against crypto since I want it to go mainstream too but expecting that crypto will replace fiat completely is too much for now.
Let's just assume what you said is actually gonna be true someday then the below will be my perspective

1.The governments. -> They will regulate crypto and will make it taxable so that the economy could profit from the revolutionary technology
2.To business. -> Businesses will incorporate crypto as payments which will enhance their business and increase crypto adoption
3.To Individuals. -> Individuals will find it easy to deal with crypto and the whole world will go cashless.
4.To World bodies such as IMF, UN, WTO etc -> Will promote the usage of crypto since they will eventually find out that using crypto is more beneficial to them than using cash.

[Spenjoyere3]

It is not true that the future of money is digital and not encrypted or decentralized.
The idea of the state lies in the ability to control resources through a united force that collects taxes and provides many things for citizens such as safety, services, education and treatment.
Decentralization works against these ideas, states will not follow suit, they may enact laws that make them less decentralized.

Employment and jobs are forms of how citizens can get money.
Jobs may be less attractive in the future, but work must be done in the form of a job, whether it be in an office or anywhere else.

[Wenbing]

[

Every emerging technology always do two things; 1. it benefit some categories people and 2. It doesn't benefit some categories of people. But, the entrepreneurs will always win, they are the force behind innovation.

To answer your question on where do wold's leading institutions like IMF, World Bank, UN etc get their funds from. Every world body is made up of many countries as members. Every member country have financial obligation to the organisation. I believe their money comes from members.

To further prove you right at the emboldened, money is created by those insitutions through loans given to the borrowers. That's why we need Decentralisation and financial freedom in blockchain technology.

The same way businesses have business models and revenue models, I believe the same is organizations such as the IMF, World Bank etc.

For their sustainability, there should be a clear and a quantifiable way of how they make money. We surely have other ways these institutions make money. We need more contributions or research to know this...

[avikz]

Here are what I’m thinking. The future is not far from us in software technological breakthrough.

1.The future of work is Contributor and not employee.
2.The future of platforms, systems and institutions is decentralization and not centralization.
3.The future of contract is smart contract and not trust contract.
4.The future of money is crypto and not fiat.

Super ultra bullish statement I agree! If you are bullish about the implementation of blockchain technology across industries, it makes sense! Industries have recently started exploring the benefits of blockchain. Even I agree to the last point where you have said - the future of money is crypto and not fiat. But you must edit it as - The future of money is government controlled cryptos and not fiat!

Bitcoin or any other decentralized cryptocurrencies can't make it to mainstream where it will replace fiat. However, blockchain technology will be leveraged by the governments around the world to power their own digital currencies as there are several benefits in relation to cost and surveillance.

What I foresee in future is that, there will be two simultaneous form of money available in the market - one is government controlled digital currencies (I won't call it crypto for obvious reasons) and the real cryptos like Bitcoin and ETH. Both will be powered by blockchain at the core but behaviorally they will be different than each other. While the government controlled currencies will thrive in reality, the real cryptos will thrive in the parallel economy that cryptos are creating and nurturing now.

Just my two satoshis! 

[hatshepsut93]

Here are what I’m thinking. The future is not far from us in software technological breakthrough.

What breakthrough are you talking about? Cryptocurrencies, decentralized platforms, smart contracts have existed for many years already, and their adoption rate is tremendously slow. So, why exactly millions of people are going to wake up one day and think "this is it, I'm starting to use decentralized crypto stuff right now!" ?

Not to mention that there's a lot of fundamental problems with smart contracts and decentralized platforms, that prevent them to be a real and effective replacement for all the uses cases of their centralizd counterparts.

[wozzek23]

Cryptocurrency is really bring with it so many changes. Most especially the banks will be worried that cryptocurrency is now creating a means for people to bypass their services, they are really not going to be happy with this if they should see the population shifting towards, since the transactions we make is their means of making income, they charge us card fees, check fees and other fees, which is their way of earning money. Now cryptocurrency is changing that. And as for the government, I don’t know what kind of way this is going to influence it.

Moreover, for those "futures", we might need to wait a bit which could be longer than we do imagine. I am just speculating based on what most governments are doing against cryptocurrencies and how most common people are still expecting their government to take initiative on cryptos so that they will adopt it with zero risk. That is not the way a decentralized environment needs to be working. You must understand the power of decentralization and then adopt it regardless of what your family/employer/government says about it.

[Darker45]

In your own opinion, what will be the impact of this revolution to ;
1.The governments.
2.To business.
3.To Individuals.
4.To World bodies such as IMF, UN, WTO etc

There would be a significant degree of devolution. This is basically what decentralization really means insofar as the governments and world bodies are concerned. This could be equated to more freedom at the bottom part of society or of the ordinary people. 

But I highly doubt centralization will be totally erased. I cannot imagine a country without a central authority. Any state without such uniting authority or set of laws would probably degrade into anarchy or feudalism at best. Somehow a sovereign country will have to have certain regulating powers over businesses and individuals.

[davis196]

Truly, it has been said that we should create the future we want to see. In order words, if you want tomorrow to be great, then start working on it today.

That is how the software industry has developed and transformed from one forms to another until we now have the powerful software that support bitcoin, which are; Blockchain, Cryptography and Internet.

Here are what I’m thinking. The future is not far from us in software technological breakthrough.

1.The future of work is Contributor and not employee.
2.The future of platforms, systems and institutions is decentralization and not centralization.
3.The future of contract is smart contract and not trust contract.
4.The future of money is crypto and not fiat.


In your own opinion, what will be the impact of this revolution to ;
1.The governments.
2.To business.
3.To Individuals.
4.To World bodies such as IMF, UN, WTO etc

You are oversimplifying too much and your "black'n white" type of thinking is kinda wrong.
The "we are the future" mentality is immature,the crypto industry still has many flaws that have to be solved.
Smart contracts aren't some sort of panacea that's going to guarantee that neither of the two sides creating the contract won't break it.
Decentralization and cryptocurrencies will find their way inside the current fiat oriented global system,but they won't dethrone fiat money and centralization.There will more fusion instead of conflict.

[gamer4156]

My first wish is that Bitcoin should go under a government. The whole world is making it more acceptable with Bitcoin under one country. Its use will increase day by day and it will be used as many payment systems. It is true that if Bitcoin is approved by a government, then the laws of that country must be obeyed. Anyway I want Bitcoin to go under a government first.

[pooya87]

1.The future of work is Contributor and not employee.
2.The future of platforms, systems and institutions is decentralization and not centralization.
3.The future of contract is smart contract and not trust contract.
4.The future of money is crypto and not fiat.

i think it is possible that you are too caught up in the hype.
the fact is that both of these things that you are pairing against each other have their own value. for example centralization, employee/employer,... have their own usages. in fact in most scenarios they work best instead of a decentralized solution. same with fiat, the centralized money printed and controlled by the government and banks. with all its flaws it still has its merits too.

[bitbunnny]

My first wish is that Bitcoin should go under a government. The whole world is making it more acceptable with Bitcoin under one country. Its use will increase day by day and it will be used as many payment systems. It is true that if Bitcoin is approved by a government, then the laws of that country must be obeyed. Anyway I want Bitcoin to go under a government first.

I'm not sure what do you mean by "go under government". To be centralized, to be monitored by central bank?
I don't think this is good or necessary. But what bitcoin needs is regulation. It needs to become formal psrt of economy and financial system although not the same way as fiat. That might help with acceptance snd adoption especialy by businesses. To my opinion with time more and more countries will regulate Bitcoin