Is bitcoin really the future of money?

[coolcoinz]

I'll give you something to think about OP.

You buy a car for 100k USD and a year later it's still in perfect condition. Someone offers you 60k for it, you decline. They say you shouldn't because he saw a few of those used cars listed for 60k, but you know the value of your car and won't sell it for cheap. Some years later someone else sees that car in great condition and offers you 120k saying they don't make them anymore and he was looking for that exact model because he used to drive it but crashed and the market price now is above 100k for a used one.

That's what it means to own bitcoin. Nobody forces you to panic sell because some other people are now selling. Nobody forces you to buy when others are buying. Eventually bitcoin will trade for more than it's trading today. IMO it may not be the future of money but it's the future store of value, digital gold.

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[serjent05]

I always think and see Bitcoin as one of the future alternatives for money.  I never think even once that Bitcoin can replace fiat currency or any national currency because the government will never allow that.  Different countries may acknowledge it as legal tender but it will stop there.  It won't further escalate to being a country's national currency. Taking that situation, I think Bitcoin isn't the future of money, besides we never know what will happen in the far future,  it is possible that another technology will be invented making blockchain technology obsolete.

[The Cryptovator]

Due to the high volatility, you can't use Bitcoin as fiat money. There will be existing fiat whether paper money or digital forms. Bitcoin is a cryptocurrency that exists in the virtual world, it will exist the same and still, we can use it for borderless transactions. It has a value that is backed by the community. Bitcoin won't be the only future money. But yes, it is digital money which is called cryptocurrency.

[Asiska02]

I never considered it the future of money; rather, I saw it as a means of storage and a bank substitute. Despite its high volatility, Bitcoin is still largely relied on due to its decentralized nature as a means of storing value. Other features of bitcoin that individuals are interested in include the trading aspect, which they appreciate and perceive as a chance to make a lot of money.

Making it possible for individuals to send money online was Bitcoin's main goal. The goal of the digital currency was to offer an alternative payment method that could function without centralized management but otherwise be utilized much like fiat currency. Any further uses for it are secondary to this.

[kawetsriyanto]

I don't think bitcoin is a future Money .Because Bitcoin is a digital currency and it is used as a digital payment method. The use of Bitcoin is increasing day by day. This does not mean that the local fiat money of each country will disappear in the future and Bitcoin will be the only currency used globally. However, in the future, Bitcoin may be used as an alternative coin to fiat money worldwide But it will not be a mandatory currency to use

There are some of your statements are contradictory.
If it becomes an alternative currency in the future, means it is future money too.
Whether it is our main currency or not, it is future money as long as it can survive.

Since the use of Bitcoin is getting massive, it is a sign that Bitcoin has a big chance to survive and to adopt by people around the world. Surely, it is an indicator that Bitcoin is possible to be a future currency.

By the way, although Bitcoin is digital money, doesn't mean it has no chance to be the future money. Digital money/currency becomes more popular, its use is increasingly crucial in the current digital era.

[fuguebtc]

I don't think bitcoin is a future Money .Because Bitcoin is a digital currency and it is used as a digital payment method. The use of Bitcoin is increasing day by day. This does not mean that the local fiat money of each country will disappear in the future and Bitcoin will be the only currency used globally. However, in the future, Bitcoin may be used as an alternative coin to fiat money worldwide But it will not be a mandatory currency to use

There are some of your statements are contradictory.
If it becomes an alternative currency in the future, means it is future money too.
Whether it is our main currency or not, it is future money as long as it can survive.

Since the use of Bitcoin is getting massive, it is a sign that Bitcoin has a big chance to survive and to adopt by people around the world. Surely, it is an indicator that Bitcoin is possible to be a future currency.

By the way, although Bitcoin is digital money, doesn't mean it has no chance to be the future money. Digital money/currency becomes more popular, its use is increasingly crucial in the current digital era.

What will stop it from becoming the world's currency is its volatility and, more importantly, its decentralization, which the government will never accept. This world is run and controlled by the government so can't expect that something not made by them can replace their product no matter how good it is. Government is the biggest barrier, can it become a currency or not, it can be said that the government will be the one to decide,

[Wakate]

No matter the currency that will be future of money even though that Bitcoin is not going to be amoung, I still give 100% respect to Bitcoin because it's a digital currency that pave a way for all these coins we are seeing in the market right now. People prefer Bitcoin than any other crypto coins in the market and it also controls the market.
Once Bitcoin price start fluctuating, the price of altcoins too will keep fluctuating because of the so much power Bitcoin has. Since the market encourage the establishment of new project, Bitcoin will continue to be the mother board of all cryptocurrencies.

[GreatArkansas]

I never considered it the future of money; rather, I saw it as a means of storage and a bank substitute. Despite its high volatility, Bitcoin is still largely relied on due to its decentralized nature as a means of storing value. Other features of bitcoin that individuals are interested in include the trading aspect, which they appreciate and perceive as a chance to make a lot of money.
(.....)

In short, similar to Gold. A digital gold as others also say about Bitcoin. Which is also ending up as a store of value.
So for me, I agree that Bitcoin is a store of value, which is in digital form.
We all know how Bitcoin works and it's economics, which if you think and look for long term, it is indeed a store of value over the time.

[lenexn]

Everything will be affected by the crisis. Although it is legal currency, gold will also fluctuate, but Bitcoin has a relatively large advantage in trading. Bitcoin is open, transparent and decentralized. In the past ten years, Bitcoin has has become a trend in the world.

[ModestyKK]

With the widespread use of Bitcoin now, El Salvador's move has become a start. Bitcoin is recognized by the government and used as legal tender, which means that Bitcoin is also likely to become money in the future. It may be a matter of time, but we This generation can't wait.

[zfhrt80]

Bitcoin was originally released to allow us to decentralize, and assets can be hedged, but I don't think it's realistic as a daily payment. First off, I'm not going to trade him all the time, my idea is to hold and wait for the potential of Bitcoin for the long term.

[jokers10]

With the widespread use of Bitcoin now, El Salvador's move has become a start. Bitcoin is recognized by the government and used as legal tender, which means that Bitcoin is also likely to become money in the future. It may be a matter of time, but we This generation can't wait.

El Salvador wanted to get benefits of popular topic being first and attracting true Bitcoin supporters and they've got some effect they hoped for. To become a popular currency worldwide Bitcoin needs more: first to solve problems of scalability and transaction time. LN is a good but not universal answer. Next it should be enough popular and competitive to replace any of popular anchor currencies, as for now it is not yet, and governments prefer to operate their own inflationary currencies as they make financial administration easier and give an option of hiding financial mistakes. So probably someday but I don't think that the same way as in El Salvador which even doesn't have an own national currency.

[Diuyen Kim]

The value of Bitcoin is comparable to that of gold. Bitcoin cannot be used as legal tender. Even the legal currency of a country is to save the country's economy and does not want to rely on the US dollar for development.
Bitcoin is an emergency safe-haven solution. It cannot be said that Bitcoin is the future of money, it can only be said that Bitcoin will exist for a long time in the future.

[jokers10]

The value of Bitcoin is comparable to that of gold. Bitcoin cannot be used as legal tender. Even the legal currency of a country is to save the country's economy and does not want to rely on the US dollar for development.
Bitcoin is an emergency safe-haven solution. It cannot be said that Bitcoin is the future of money, it can only be said that Bitcoin will exist for a long time in the future.

You should learn this topic better as there's much misunderstanding in your words. First, Bitcoin is a legal tender in El Salvador and can be used so in some other jurisdictions. Next, talking about the future of the money: we all know which problems Bitcoin has, we know that these problems are solvable, then it is a possible situation that Bitcoin will become a worldwide popular currency in the future (not inevitably but possibly).

[Ziskinberg]

You have to consider the fact that not all are preferred to use Bitcoin, Therefore, never think OP that this will become the future of money but instead, this will remain as another option/alternative. I think, we just leave it that way because in the first place we are not urged to use this. In fact, the digital way of payment already existed before BItcoin but guess what, only a few people were able to adopt and use it. Many still do not know how to use this as they are still preferred using fiat money.

[BRINIRHA]

maybe I don't think Bitcoin will be the future of money right now. but I believe that BITCOIN HAS A GOOD FUTURE. although I'm still new to bitcoin. but for me the decline that occurred in bitcoin (even entire sectors of the economy) is the important thing to attract new people to join bitcoin (to bring in more investors). and I have read that now bitcoin holders are increasing rapidly. and one of the examples of people who have ventured into bitcoin as a result of a bear market is myself.

[Japinat]

Due to the high volatility, you can't use Bitcoin as fiat money. There will be existing fiat whether paper money or digital forms. Bitcoin is a cryptocurrency that exists in the virtual world, it will exist the same and still, we can use it for borderless transactions. It has a value that is backed by the community. Bitcoin won't be the only future money. But yes, it is digital money which is called cryptocurrency.

Yes, and bitcoin wasn't created in the first place to be the future of money or to compete with the existing fiats that are backed by the government and the community. Bitcoin is created to be an asset in digital form and to be a tool or hedge against inflation, an asset that will be much more valuable in the future but risky to be used as a fiat. Maybe in the future, but as of now, bitcoin has still a long way to go before it can compete the fiats.

[xSkylarx]

You have to consider the fact that not all are preferred to use Bitcoin, Therefore, never think OP that this will become the future of money but instead, this will remain as another option/alternative. I think, we just leave it that way because in the first place we are not urged to use this. In fact, the digital way of payment already existed before BItcoin but guess what, only a few people were able to adopt and use it. Many still do not know how to use this as they are still preferred using fiat money.

Before, we thought that digital money or decentralized transactions would not be possible, but now we can see it, which is a great innovation for technology. Though you have a point that not all of us can use it as this requires the internet, and the user should know how to use a phone or computer; still, it has a possibility that this could be future money in the future (not sure if we are still alive on this time), but for now, let's use and enjoy it as it is helping us

[fzkto]

I always think and see Bitcoin as one of the future alternatives for money.  I never think even once that Bitcoin can replace fiat currency or any national currency because the government will never allow that.  Different countries may acknowledge it as legal tender but it will stop there.  It won't further escalate to being a country's national currency. Taking that situation, I think Bitcoin isn't the future of money, besides we never know what will happen in the far future,  it is possible that another technology will be invented making blockchain technology obsolete.

Such technology, which will be the future money, is just being developed with the help of blockchain. It will be a CBDC that will exist in every country and it is likely to use social ratings, as it is already being used in China. Bitcoin will not be universally accepted by different countries because of decentralisation, but blockchain-based banking products could gradually replace cryptocurrency.

[witcher_sense]

The dip is bringing doubt, for many people like us who believe that bitcoins are the future of money. If money has a value storage function from monetary economics

Storage of value is one of the three generally accepted functions of money,

and bitcoins with how their value can just suddenly drop, can we still defend them as the future of money?

https://en.wikipedia.org/wiki/Store_of_value

Short-term market fluctuations shouldn't confuse you; a store of value function's performance is only observable on very long time horizons like years, decades, or even centuries. Volatility in the early stages of establishment doesn't matter whatsoever because in these stages people still aren't able to realize the significance of a new asset meant to become a globally accepted means to preserve wealth. Take gold, for example, I have a hunch that it was extremely volatile when people started valuing this shiny rock, but still, they weren't sure if other people thought the same. The fluctuations in the demand for an emerging store of value greatly affect its short-term price (both negatively and positively), but credible monetary characteristics of a new asset inspire confidence in people that it is valuable, and that leads to the long-term growth of the price. Bitcoin is still young; most people haven't realized its significance and can't afford to hold it despite all the market fluctuations. But the number of people who understand gradually increases, and it will lead to the establishment of bitcoin as a widely accepted store of value.