Human productivity

[adzino]

What makes bitcoin superior to gold or fiat is that its price is increasing year by year,
we can see for ourselves and of course the price can still go up again,
Despite these advantages, there are still drawbacks and investing in cryptocurrencies is a big risk, so it's not easy

So for you it is the value that makes bitcoin superior to gold? Bitcoin isn't increasing "year by year". Look at the charts. That's a witless way of thinking/portraying bitcoin. Bitcoin was made to be used as a currency. It was made so that people had financial freedom. It wasn't made to make people rich. Stop looking at the value and start thinking about how to make it better so that we can actually use it as a regular currency. Focus on the development and solutions to the current problems and the value will rise automatically.

[just_Alice]

It's an interesting way to perceive Bitcoin, as a part of the trading system. But there's one obvious flaw here. You've said it yourself "for rare, unchanging gold", but the same can't be said about cryptocurrencies. That can be an issue if we're talking about implementing crypto into the current system for purchasing goods and so on. On the other hand, nowadays people have learned to take advantage of it and make money, but the problem of crypto circulation within our economical system still requires solutions.

[verita1]

OP's thinking is a retrospective of how he saw gold evolve in contrast to what he knows about bitcoin.
It is the thought that we must convince those who do not know about bitcoin and that it is time for them to approach the new technology and the freedom that bitcoin offers.
The opportunities are emerging and will be favorable for the crypto community we just have to be patient and stay on board.

[AndySt]

It's an interesting way to perceive Bitcoin, as a part of the trading system. But there's one obvious flaw here. You've said it yourself "for rare, unchanging gold", but the same can't be said about cryptocurrencies. That can be an issue if we're talking about implementing crypto into the current system for purchasing goods and so on. On the other hand, nowadays people have learned to take advantage of it and make money, but the problem of crypto circulation within our economical system still requires solutions.

The author of the topic suddenly saw the light and described a little in his own words the effect of the gold standard, which was in effect until the middle of the last century.Now we will wait for the author to finally see clearly and understand with his own mind why the financial systems of the states of the last century suddenly abandoned the gold standard This is a very interesting topic for discussion and the introduction of bitcoin in this area instead of existing economic policy instruments, unfortunately, will not help, including due to human productivity in the economy.

[dimox]

digital gold is good name for this one.
people work on crypto, exchange in bitcoin, hold or use it for need.
as far i know, people will make main mission like produce money, more and more. people will sell their digital asset if know its good. than will store some to the bank, and buy asset if the price down as much as he spend for the first time. so, making money from this is more beautifull than trading it with bitcoin.

[Coroline]

In the past, people farmed and exchanged the surplus grain harvested in autumn for rare, unchanging gold. Then give the gold to a trusted person in exchange for his IOU. When you finish eating your own grain, you can exchange the IOU for gold and then exchange for grain.
Now and in the future, we will replace the surplus production with a rare, trustworthy and unchangeable Bitcoin, and it can be quickly exchanged for the product we want in any corner of the world. We no longer have to work hard to carry these gold and IOUs.
 In fact, in a few years, I often imagined how to send money conveniently on the Internet. After thinking of Bitcoin, I found that Bitcoin, which has solved scarcity, trust and immutability, is money itself, and it is digital gold that is easy to use.

Bitcoin's volatility makes it a horrible currency. Imagine an economy where you only know how much money you have for a few minutes at a time because the value changes so quickly. Commerce would be inconsistent, the ability to plan for the future would be completely gone because you would never have a reasonable expectation of how much money you'd have at any stage in your life due to the unpredictability of bitcoin's value.

Sorry, but nothing in bitcoin's history suggests it will ever be a usable currency, especially on a global level.

I agree with you, asset values change very quickly, of course this is not good for an economy. I prefer the technology that is brought, namely blockchain, this is the one that will bring light to the future. Gold, which is currently being manipulated and regulated by an organization, has certainly become non-transparent and centralized.

[AmoreJaz]

OP's thinking is a retrospective of how he saw gold evolve in contrast to what he knows about bitcoin.
It is the thought that we must convince those who do not know about bitcoin and that it is time for them to approach the new technology and the freedom that bitcoin offers.
The opportunities are emerging and will be favorable for the crypto community we just have to be patient and stay on board.

this will take many years before large percentage of population will get involved in crypto. and expect that those in the older generation will stay mostly on traditional means of payment system and will not touch crypto. and for them, it is not a loss because they can always live their life without crypto, which is actually true. but other younger generations will embrace this new tech willingly. they will find the benefits that it will bring to their daily life. and yes, maybe, they will categorise bitcoin, as the new digital gold of the new generation.
however, i dont think physical gold will be eradicated in our system, it will always be an integral part of the financial system of every country. there will always be gold reserves in most central banks. and also, we need to consider the vital role of gold in electronics, jewelry and other industries.

[awik p]

digital gold is good name for this one.
people work on crypto, exchange in bitcoin, hold or use it for need.
as far i know, people will make main mission like produce money, more and more. people will sell their digital asset if know its good. than will store some to the bank, and buy asset if the price down as much as he spend for the first time. so, making money from this is more beautifull than trading it with bitcoin.

I see that cryptocurrency is more dominant to make money. To meet daily needs, I think it is more effective when prices are at their peak, so we sell and exchange fiat to buy necessities. and I see it looks equally promising if we invest in this business, rather than waiting for the initial function to be created

[DrBeer]

In the past, people farmed and exchanged the surplus grain harvested in autumn for rare, unchanging gold. Then give the gold to a trusted person in exchange for his IOU. When you finish eating your own grain, you can exchange the IOU for gold and then exchange for grain.
Now and in the future, we will replace the surplus production with a rare, trustworthy and unchangeable Bitcoin, and it can be quickly exchanged for the product we want in any corner of the world. We no longer have to work hard to carry these gold and IOUs.
 In fact, in a few years, I often imagined how to send money conveniently on the Internet. After thinking of Bitcoin, I found that Bitcoin, which has solved scarcity, trust and immutability, is money itself, and it is digital gold that is easy to use.

Bitcoin's volatility makes it a horrible currency. Imagine an economy where you only know how much money you have for a few minutes at a time because the value changes so quickly. Commerce would be inconsistent, the ability to plan for the future would be completely gone because you would never have a reasonable expectation of how much money you'd have at any stage in your life due to the unpredictability of bitcoin's value.

Sorry, but nothing in bitcoin's history suggests it will ever be a usable currency, especially on a global level.

And if we assume a different situation - we "remove" the value of bitcoin in dollar, and bitcoin, for example, becomes that very world dollar, what happens then? Will volatility occur if the value of bitcoin is already pegged to, for example, the total world gross product? Now, in fact, bitcoin is not much different from, for example, a tomato Its price is also volatile, depending on the work of agricultural companies, the price of fertilizers, oil, weather disasters and many other indicators ...

[dothebeats]

The thing is, would the world be able to move forward with bitcoin as an integral part of the economy? I could see it happening, though I'm not so sure whether the people, the governments, and the industries would be able to take the change a step further. Any theoretical situations and assumptions are pretty to look at, but the reality is that in terms of adoption, we are still at a turtle's pace. The cycle just basically repeats, though the manner through which these cycle progresses—in this case gold replaced by bitcoin—are changed.

[Nunoluck]

For me bitcoin is the best digital payment method. It is not only practical to use but it is also profitable as investment and strong against inflation. In this world economy system, I think holding bitcoin is also profitable like own a farming field, the difference is I don't need to maintain it but just hold it for long term then I get profit automatically. With all advantage that bitcoin has I think Human should be more productive.

[TheUltraElite]

In fact, in a few years, I often imagined how to send money conveniently on the Internet.

It has made sending money easier depending on the country where you live and where the recipient lives. While digital payments methods that use fiat as mode of transaction are essentially border-less but fee-heavy and time consuming. Both have their pros and cons and neither one is replacing the others.

After thinking of Bitcoin, I found that Bitcoin, which has solved scarcity, trust and immutability, is money itself, and it is digital gold that is easy to use.

I would not say all those terms to be correct. Bitcoin is not the solution for poverty. People who are poor cannot buy a digital device because that is needed for accessing your bitcoins. Poor people cant even get access to continuous electricity supply or even water supply in many countries. Trust, I agree but digital gold - No. You cant compare bitcoin with gold. Gold has its own importance in the market, it is costly and sell-worthy anywhere in the world. Bitcoin still sees a lot of legal restraints in many countries.

[S4VV4S]

In the past, people farmed and exchanged the surplus grain harvested in autumn for rare, unchanging gold. Then give the gold to a trusted person in exchange for his IOU. When you finish eating your own grain, you can exchange the IOU for gold and then exchange for grain.
Now and in the future, we will replace the surplus production with a rare, trustworthy and unchangeable Bitcoin, and it can be quickly exchanged for the product we want in any corner of the world. We no longer have to work hard to carry these gold and IOUs.
 In fact, in a few years, I often imagined how to send money conveniently on the Internet. After thinking of Bitcoin, I found that Bitcoin, which has solved scarcity, trust and immutability, is money itself, and it is digital gold that is easy to use.

You are talking about the initial days of the money system but now a days we have so called paper money which can buy anything and also you can sell anything which has value and get the paper money, of course in future we may have bitcoin as medium of exchange but do we have surplus production of needed things? Lot of factors affecting the productivity rate even due this the pandemic there is huge shock in the supply and chain.

In my opinion, it is still very difficult if bitcoin will become a medium of exchange that can replace paper money. It took them a long time to introduce them about bitcoin to people who are low-income and less tech-savvy. Even in my multi-ethnic country, there are some tribes that prohibit the development of modern technology, they are still primitive. And prefer to buy and sell using physical money rather than digital. But this is less of a problem than people who want bitcoin to be a legitimate trading medium.