The digital perfection of Bitcoin

[Richycryp]

People always say that Bitcoin is the digital money that will take over soon as the world is digitalized,but they have not understand something, It may not be easy as we  think due to some delays in confirmation of transactions,It will be a good development to the whole world, but how do we perfect this and make it handled and easy as a physical money? Bitcoin has actually come to stay an let make it perfect and make it easy for everyone to use, through the digital. Yes I agree that Bitcoin is future currency, but let it be easy to use ?

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[YOSHIE]

Even though Bitcoin is called a digital currency, it doesn't mean that Bitcoin is made into a real currency like fiat today, Bitcoin is only used as a medium of exchange in digital form online into fiat form, nothing more.

More details you have to understand this one.

Digital: is everything, whether graphics, text, numbers, or other objects that are described or available in numeric form, namely binary numbers 0 and 1 that are displayed or not with the help of certain devices.

Meaning: fiat only has numbers, no graphics, digital is not controlled by certain organizations, fiat can be controlled by certain organizations, meaning: Bitcoin can not be made into currency in general like paper money, because it does not have ownership, Bitcoin can only be obtained online, bought with paper money on exchange sites or other sites.

Conclusion: there is no such thing as Bitcoin made into paper money anytime and anywhere, Bitcoin is not used by one country, but is used by all countries, online.

[BlackHatCoiner]

People always say that Bitcoin is the digital money that will take over soon as the world is digitalized

Digitalization isn't the (only) reason Bitcoin is better.

It may not be easy as we  think due to some delays in confirmation of transactions

Have you heard of the Lightning Network?

but how do we perfect this and make it handled and easy as a physical money?

Why should it be tangible? And further: Isn't digitalization an argument, after all, or not?

Bitcoin has actually come to stay an let make it perfect and make it easy for everyone to use, through the digital. Yes I agree that Bitcoin is future currency, but let it be easy to use ?

In your first sentence you say that it has come to stay as it's easy on its use. Right after it, you state that it's the future currency, but doubt it'll be easy to use. You're withdrawing your own sayings.

[pooya87]

Even though Bitcoin is called a digital currency, it doesn't mean that Bitcoin is made into a real currency like fiat today, Bitcoin is only used as a medium of exchange in digital form online into fiat form, nothing more.

What is a real currency? Is it not literary anything you can use as medium of exchange?
Bitcoin IS a currency and not having a physical form or the fact that it is not centralized and inflationary like fiat doesn't change that. You can purchase anything with bitcoin both online and offline, not just on the internet and not just convert to fiat!
Besides, fiat is also digital nowadays. In fact I'm even paying my cab driver digital fiat and no longer carry cash around! Do you claim that because I paid him digitally, that wasn't a real currency?

[hyudien]

Bitcoin as anything can be used. Not only devoted as a medium of exchange that has value. Actually the value contained in Bitcoin is also a guide for people to survive inflation. We use Bitcoin as a store of value, the perfection in Bitcoin is seen from the way the early community was so amazed at its sophistication that it defied centralization.

As a centralized currency it may take an organized deal. Some of us keep it within the realm of where Bitcoin was originally born. I wouldn't be so against the angle that other people see about the benefits of Bitcoin. Perfection in it because we are the ones who until now still believe in Bitcoin. The point is the belief of a large community that makes everything perfect. Both from the value, benefits and purpose of Bitcoin.

[Accardo]

There is nothing difficult about the usage of bitcoin, you said that transactions get delayed using bitcoin, of course if you send a small fee your transaction will be delayed until they are lesser transactions on the blockchain network. They are a lot of digital money, Even fiat can be a digital currency these days, because it can get sent using a digital medium like a computer and if they is a network problem the transaction gets delayed as well.

[Gyfts]

Even though Bitcoin is called a digital currency, it doesn't mean that Bitcoin is made into a real currency like fiat today, Bitcoin is only used as a medium of exchange in digital form online into fiat form, nothing more.

More details you have to understand this one.

Digital: is everything, whether graphics, text, numbers, or other objects that are described or available in numeric form, namely binary numbers 0 and 1 that are displayed or not with the help of certain devices.

Meaning: fiat only has numbers, no graphics, digital is not controlled by certain organizations, fiat can be controlled by certain organizations, meaning: Bitcoin can not be made into currency in general like paper money, because it does not have ownership, Bitcoin can only be obtained online, bought with paper money on exchange sites or other sites.

Conclusion: there is no such thing as Bitcoin made into paper money anytime and anywhere, Bitcoin is not used by one country, but is used by all countries, online.

The currency system before paper money was essentially precious metals. The gold standard was not controlled by any organizations, there was a finite supply. You can do a Bitcoin transaction physically person to person, so why would Bitcoin's online presence be a hinderance? Most financial systems operate on the internet anyways, so the infrastructure is there already. The entirety of people's net worth appears as digitalized pixels on a private banking page. There's nothing physical about it.

[fiulpro]

It's definitely not something that might be so easy to use for old people or also for young people but one have to understand the fact that digital currencies are always a little hard to use, even using bank accounts online can be quite challenging. I do think when we talk about converting bitcoins in a currency we do not talk about it dominating everything that we know of, we specifically talk about how we can use Bitcoins more efficiently in other ways possible, for some people they might have greater use of it as an investment but that does not mean that we cannot use it for international transactions, it can indeed make them more easy. What we are talking about is : Giving a decentralized currency an opportunity to hold ground and to make further progress.

[Fortify]

People always say that Bitcoin is the digital money that will take over soon as the world is digitalized,but they have not understand something, It may not be easy as we  think due to some delays in confirmation of transactions,It will be a good development to the whole world, but how do we perfect this and make it handled and easy as a physical money? Bitcoin has actually come to stay an let make it perfect and make it easy for everyone to use, through the digital. Yes I agree that Bitcoin is future currency, but let it be easy to use ?

I think it's bad form to say that Bitcoin is perfect and it can be improved in numerous ways. It's like saying the internet was perfect shortly after it came out, yet we've seen it evolve and transform to produce many more miraculous things. I doubt Satoshi would have wanted people to stop developing the blockchain idea at this first iteration and it's great that other cryptocurrencies are developing novel new ideas based on the same core concept - a transparent link of all transactions allowing you to trace every coin ever creating (stopping "counterfeits" entering the supply) in a decentralized manner. If the energy usage can be lowered below existing payment networks and the speed can be almost instant, then it would be much closer to perfect.

[syedakhlaque]

Bitcoin has digital perfection due to blockchain technology. Blockchain is a good development in the world of science that does not have someones or some group control. It cannot be edited or deleted. So it has good perfection and securiy. Now the countries where bitcoin has a legal issue should manage a legal framework for its acceptance regarding the superiority of their central bank or state bank.

[riso2015]

a lot of people talk about the perfection of bitcoin, it can't be denied that over time bitcoin is getting more and more popular, and is increasingly being attracted by various groups, but in my personal opinion the perfection of bitcoin is only for the digital world, we must realize bitcoin cannot replace fiat currency , a currency that is held by everyone, and a currency that is managed by all governments, bitcoin will continue to be popular in the digital world, and will remain an asset and the safest place to invest.

[TheUltraElite]

People always say that Bitcoin is the digital money that will take over soon as the world is digitalized,

The world is digitized is a wrong statement. The payment system are made digital is the correct statement. Bitcoin is one of the different modes of payment in that vast sphere. If you are trying to say that crypto will become major, then you are mistaken, both fiat and crypto will co-exist in future.

It may not be easy as we  think due to some delays in confirmation of transactions,

Like BHC said, we have Lightning Network and then if someone does not want to accept crypto they always have fiat.

but let it be easy to use ?

It is easy to use, problem if that you make it difficult then it will remain difficult. The first time you learn to ride a bike, you will fall and hurt yourself. But gradually you get the hang of it.

Right after it, you state that it's the future currency, but doubt it'll be easy to use. You're withdrawing your own sayings.

OP is the type of account that posts new topics and does not followup replies to older topics.

[Findingnemo]

People always say that Bitcoin is the digital money that will take over soon as the world is digitalized,but they have not understand something, It may not be easy as we  think due to some delays in confirmation of transactions,It will be a good development to the whole world, but how do we perfect this and make it handled and easy as a physical money? Bitcoin has actually come to stay an let make it perfect and make it easy for everyone to use, through the digital. Yes I agree that Bitcoin is future currency, but let it be easy to use ?

Even today 95% of my spending fiat is in digital form so I never withdraw much cash so I am only holding very little amount of physical cash in my wallet so the cards and digital wallet is accepted everywhere. Imagine if more people using bitcoin then we will have merchants with QR code of their address so we can simply scan and send and agree with the confirmation time so in future it may not be reliable to make 1 dollar payment via bitcoin but bitcoin isn't the only cryptocurrency we have.

[panukurap]

If Bitcoin is said to be perfect in my opinion it is not right because Bitcoin still has advantages as well as disadvantages. One of the advantages is that you can make transactions with bitcoin, both for transferring and receiving. In Indonesia itself, using bitcoin as a medium of exchange is illegal. However, you can use it to receive payment for goods or services. Another interesting advantage is that it can be cashed out. Even if you get a transfer in the form of bitcoin, money can still be disbursed in rupiah. so it's not surprising that some keep bitcoin as an investment for the long term. But some of the advantages are the number of hackers, no assets, and no protection from the state because it is still considered illegal in some countries.

[Zilon]

People always say that Bitcoin is the digital money that will take over soon as the world is digitalized,but they have not understand something, It may not be easy as we  think due to some delays in confirmation of transactions

You really think delay in transaction confirmation will limit the use of Bitcoin as a global legal tender I will say it's not even an issue at all because when there are no much transaction to confirm it's always very fast and swift with low transaction fee but if there is a queue in transaction definitely to make yours faster you have to modify your transaction fee or wait patiently for when you get yours confirmed

,It will be a good development to the whole world, but how do we perfect this and make it handled and easy as a physical money? Bitcoin has actually come to stay an let make it perfect and make it easy for everyone to use, through the digital. Yes I agree that Bitcoin is future currency, but let it be easy to use ?

Bitcoin is best as a digital currency and needs no form of physical representation or paper format if not they plans on manipulating and regulating Bitcoin would become a reality. As digital as it is it's easy to use and been decentralized makes it even more secure for investors

[Wexnident]

People always say that Bitcoin is the digital money that will take over soon as the world is digitalized,but they have not understand something, It may not be easy as we  think due to some delays in confirmation of transactions,It will be a good development to the whole world, but how do we perfect this and make it handled and easy as a physical money? Bitcoin has actually come to stay an let make it perfect and make it easy for everyone to use, through the digital. Yes I agree that Bitcoin is future currency, but let it be easy to use ?

Well, Bitcoin is developing at its own pace no? At least, well, stuff like lightning networks makes the problems you've said be easily resolved. In addition to that, every medium out there has some pros and cons, there isn't any "perfect" medium out there, just the best fit for what you want. There's probably no need even to confirm the advantages of fiat since there are also the advantages of Bitcoin against it. Bitcoin doesn't need the attributes of fiat to make it a good medium/currency, it can stand on its own with its own characteristics.

[dothebeats]

I think we're overestimating bitcoin on some facets. Bitcoin isn't meant to replace the current fiat system but rather, co-exist with it and act as an alternative. While it is true that there are lots of improvements that we can still have for bitcoin, it will still not suffice to meet the specs of fiat.

Or perhaps bitcoin can serve as an inspiration to the system that will be replacing fiat. The framework is already there, and the concept has already been proven. It will come, but I don't think that it is bitcoin that will topple fiat off of its throne.

[Hypnosis00]

People always say that Bitcoin is the digital money that will take over soon as the world is digitalized,but they have not understand something, It may not be easy as we  think due to some delays in confirmation of transactions,It will be a good development to the whole world, but how do we perfect this and make it handled and easy as a physical money? Bitcoin has actually come to stay an let make it perfect and make it easy for everyone to use, through the digital.

It wasn't yet close to its perfection but as the development continues and for the people to help themselves understand the concept of this project, that won't take so long to have this in full adoption.

We are in big concern about transaction delays that it takes a few minutes to hours depending on the fees. Of course, it wasn't a healthy thing to see but of bad signs, and even it halts users to use Bitcoin. But I expect this to have a solution someday, we just wait for that moment.

Yes I agree that Bitcoin is future currency, but let it be easy to use ?

I have to keep what I see with Bitcoin, nothing to say it was the future currency that all are concurred to use, fiat is still the most preferred by the people and we can't rid of it.

[Dave1]

People always say that Bitcoin is the digital money that will take over soon as the world is digitalized,but they have not understand something, It may not be easy as we  think due to some delays in confirmation of transactions,It will be a good development to the whole world, but how do we perfect this and make it handled and easy as a physical money? Bitcoin has actually come to stay an let make it perfect and make it easy for everyone to use, through the digital. Yes I agree that Bitcoin is future currency, but let it be easy to use ?

It's already perfect as it is as a currency in my opinion. And as you have said, it's digital so it will not be handled as any physical money in the world, and obviously there is a big difference.

Already easy to use, you just need a wallet and there's a lot of them to choose from. So I don't understand what's your rant about it. Maybe the confirmation time is your issue, but that's how the network is protected, thus no 0 confirmation.

[adzino]

There is nothing difficult about the usage of bitcoin, you said that transactions get delayed using bitcoin, of course if you send a small fee your transaction will be delayed until they are lesser transactions on the blockchain network. They are a lot of digital money, Even fiat can be a digital currency these days, because it can get sent using a digital medium like a computer and if they is a network problem the transaction gets delayed as well.

True, there is nothing difficult about using bitcoin, but he is talking about the confirmation delay. Even if you pay $100 in fees, it won't get confirmed instantly. You will have to wait for the next block to be mined. The next block might be mined within next minute, or it might take more than 20 minutes. On average, it takes 10 minutes. So you will have to wait no matter how much fee you pay. And the transaction delay that you are talking about with fiat digital transaction is not the same as bitcoin confirmation delays. Fiat transaction delays rarely happens.