The Role of BTC in the metaverse?

[darewaller]

If crypto such as bitcoin, Mana, Sand are used as means of transaction in the metaverse what will be the reaction of the government?

What reaction exactly are you expecting from the government? The metaverse is no difference from the internet, it’s still the same internet. So, what is making you think that the reaction of the government would be different from whatever reaction that they would have at this time? They would still have the reaction that they would have now, when they see bitcoin and other cryptocurrencies being used on the metaverse.

If it’s in a country where it is illegal to make use of cryptocurrency, then the government wouldn’t allow you to make use of it on the metaverse as well, and if you’re caught making use of it, it would result to you having a problem with the government.

[mindrust]

Bitcoin is for the real world. Metaverse is a scam anyway so it is not a loss for bitcoin. Why do people get in to metaverse anyway? To live inside a computer program? No, to get rich and buy real stuff. People will eventually get bored of meta and leave it. Facebook killed Myspace and nobody's using Facebook anymore.

[RiskySanchez]

Crypto metaverses like Decentraland use Decentralized Autonomous Organizations (DAO) and token governance to help their users take control of the future of gaming. In this way, metaverses can become more than just a crypto game, as they can grow into entire societies with democratic economies and leadership. Bitcoin will play a big role in metaverse development based on government control of metaverse markets such as NFT and DEFI because BTC is mutually correlated with the market situation between ETH, SAND, MANA, and MATIC.

[DoublerHunter]

Bitcoin will assume a critical part in the exchange of data from the actual domain to the advanced. Bitcoin will assume an essential part in the exchange of data from the actual domain to the computerized.

https://xana.net/

^ Is this an exchange platform? It's quite good.
For now, Metaverse is a virtual realm. Up to this point, I have not had the option to envision what it would resemble assuming Bitcoin later had in the metaverse environment. Probably over the long run, there will be many updates made by engineers on this. In any case, as of not long ago, that chance has not emerged if indeed Metaverse is just in the shadows and not really completely run as expected on any organization. Yet, regardless of whatever occurs in the metaverse, cryptos like bitcoin will continue to exist as a layer between the metaverse and genuine world.

[coupable]

Metaverse are buiding on smart contracts so the role of BTC in Metaverse ecosystem is small.

In the sense that "metaverse" is the imaginary hypothetical part of the virtual internet, you are right bitcoin has little role in that part, useless tokens reside in fairyland. In real world on the other hand bitcoin is dominating.

The concept of bitcoin is in some terms a traditional era. Bitcoin was designed to adopt with all this like forms of virtual concepts.
To mention also that "metaverse" will surely need a currency. Maybe it will have its own currency , although i see Bitcoin is the easiest to start with .

[ChiBitCTy]

I think the whole metaverse thing is kind of like the whole NFT deal right now and is mostly a bunch of hoopla, but that's just me.  I think maybe there can be some legitimate projects to come about from it, but I think people are getting way to ahead of themselves as of right now.  I know you'll be able to purchase things in the Metaverse and it's all about decentralization so naturally bitcoin fits in pretty well with this. 

Will be interesting to see where this all heads. 

[pushups44]

Bitcoin will be traded as digital gold in the metaverse, similar to the real world. After all, the metaverse is simply an extension of the real world within a digital realm. I imagine the Lightning Network will be of great use due to enabling cheap microtransactions.

Other coins will also have relevance, particularly if they confer benefits within a particular platform or ecosystem. I thus see multiple long-term winners among cryptocurrencies. Actually, there could be a lot of winners as cryptocurrencies and the metaverse go mainstream.

[nullama]

If I'm ever in any kind of Virtual Reality world, and I need to buy or sell goods or services, I will be using Bitcoin.

[LUCKMCFLY]

I think that the role of BTC within the metaverse will be very broad, there may be sites that are exclusive where very few people can enter and the requirement is to pay in BTC and everything is done under the domain of BTC, and it is very likely, because it is already he is talking about many developments of NFT games that have to do with tokens, but due to the high number of scams that have occurred, they can improve everything if it is done through BTC payments, of course, I am speculating, but it is the best option that metaverse nft games have to resurface, at least I see it that way.

[mayax]

Metaverse is a joke now. the avatars looks stupid. the whole graphic is a shit. i think it may takes 10 years to become a second reality whatever it may means.

yes, many idiots put a lot of money in it and now, they are trying to get others idiots like them to join.

[franky1]

Metaverse is a joke now. the avatars looks stupid. the whole graphic is a shit. i think it may takes 10 years to become a second reality whatever it may means.

yes, many idiots put a lot of money in it and now, they are trying to get others idiots like them to join.

dont think of it where it needs to be HD real life.
dont think of it as low-def 'ingame artifact purchases"

think of it as next-gen paypal, ebay, alibaba
instead a a 2d shopping market(ebay) you can have a 3d experience of a shopping market to buy things that get delivered to your physical house, without you leaving home

thats probably the only financial feature thing i can think of that makes it useful for people.
as for webmasters and developers. well instead of making webpages. they can now make 3d models to sell their 'product' to retailers
as for retailers. instead of paying google for adsense. they can buy ingame billlboards and posters on walls at online concerts to advertise their products

[goldkingcoiner]

I have been thinking about this for sometimes.

If the metaverse becomes a reality, what will be the significant roles of crypto in its economy?

If crypto such as bitcoin, Mana, Sand are used as means of transaction in the metaverse what will be the reaction of the government?

Bitcoin's main use case for about 4 years now has been an easy way to trade altcoins.  Sadly, this is what has become of it.  The Lightning network is a poor substitute for Bitcoin in my opinion, but it could be the technology needed for Bitcoin to have a metaverse presence as well as a way to trade NFTs with much cheaper fees than some of the more popular networks.  The problem is that development tools and hubs of communication are few and far between, along with the toxic Bitcoin maximalist attitude that Bitcoin will retain it's first mover advantage forever even if nobody is using anymore.  Hopefully time will weed out the toxic attitude, as massive altcoin outperformance of Bitcoin hasn't.  Honestly, I think if it wasn't for Tesla and MicroStrategy I think the ETH/BTC flippening would be much closer than it is to happening, and am concerned that a handful of entities is really all that is stopping this phenomenon currently as every new entrant in the crypto space I've met in the last 4 years has a much larger altcoin portfolio than exposure to Bitcoin (if any at all). 

https://www.blockchaincenter.net/flippening/

I would have to agree with most of this assessment. But going by that same logic, any successful altcoin will pull the value of Bitcoin up into the air more and more. So its not really that much of a bad thing if you think about it. Also, its main value is really just being the gold standard. Its much more trustworthy than any altcoin and that confidence inspires investors to buy Bitcoin.

That being said, I see absolutely no future for Meta as it is now. There is absolutely nothing special about it aside from its amazing marketing budget...

Bitcoin is number 1 and will stay number 1. Why? Because its the new gold standard.

[franky1]

NFT's are pegged to ethereum.
NFT is not a currency, ether is the currency of NFT(current NFT ledger)

dont fear NFT its not a currency. its an asset

NFT is not even the main asset and ethereum is not the main currency of metaverse.

NFT is a sidechain of eth blockchain. but dont think of it as a threat to bitcoin over popularity

ethereum doesnt want every hash of every t-shirt/shoe design clogging up the ethereum network.. so they went with the sidechain for NFT hash data to go

there is nothing stopping there being a bitcoin sidechain that offers NFT,

heck there is nothing stopping bitcoin having a sidechain on from that where people can make satoshi payments for small things.
that side chain does not have to even be a genesis-infinty chain.
it could be instead a ball-and-chain:
imagine that at block 105,000 it takes a snapshot of the unspents of blocks 0-52,500. and hashes remaining utxos as a utxoset milestone ball of many utxo. and then prunes off the 0-52500 'chain'
then at block 157,500 it then gathers the utxo of 0-105,000 and makes them into a milestone ball. and prunes off 0-105,000

thus more like a heavy ball and chain(milestone block+small chain) instead of an infinite chain
that way people are not storing redundant data thats already spent from over a year ago

[stepwilli]

As I read some views that suggest bitcoin would not have much effect directly as metaverse is a small part of the crypto world, it is worth considering that metaverse and bitcoin both may magnify in magnitude if governments introduce some policies in that way.

What else are you expecting is going to happen? I believe that in the metaverse that’s still going to be the role that Bitcoin is going to okay, it is also going to be used for transactions on the Metaverse platforms. But, Bitcoin wouldn’t only be growing in the metaverse, there are lots of other areas where it is going to be very useful. And this Metaverse idea is something I don’t really get how it’s going to work and how far it would go in the future. I know it’s a really cool, we all know that, but would people really be going for it? And is it going to be a trend forever, will it also end up like other trends that we have seen?