The Future of Bitcoin in a Cashless Society

[EarnOnVictor]

Hey, fellow Bitcointalkers! 🚀 Let's hop on the crypto rollercoaster and talk about the future of Bitcoin in a cashless society. 💸 Will our favorite digital gold shine even brighter, or will it face some turbulence? Strap in, no financial advice here – just enthusiasts sharing thoughts. Imagine a world where your grandma pays for cookies with BTC - wild, right? 🍪 Are we heading there or hitching a ride to a different destination? Dive into your crypto crystal ball and let's speculate on the fate of Bitcoin in this cashless adventure. What's your take on its survival skills in a world where cash is as ancient as floppy disks? Share your wild, unfiltered ideas! 🌐✨

For investment, trading and payments where applicable or where it is being forced, Bitcoin would do well there. But for others, and to serve in place of a cashless society, I believe that Bitcoin will fail woefully, it is not well-structured that way to overcome the challenges it will face the way you want.

First, decentralization is an issue for Bitcoin in this regard, most countries of the world will not legalise it and this is a serious problem for the coin. Secondly, the unreliable Bitcoin fees are another discouragement, it can only be used when the person doesn't have the choice of an alternative, or else, Bitcoin will not be used in this regard as people will be ready to part ways with higher fees, and it could be as higher as over x100 of what local fiats would do. Don't think this is outrageous, it's what is happening in my country.

Also, the use of Bitcoin can be more online and cross-border payment is appreciated, not locally because the fiat has better structure, speed, reliability and fees than it. So I don't know how it will ever be a good use to dissuade people from using cash. Even huge fluctuations in the price of it are a discouragement as people will be afraid to hold the coin for long in most cases, especially the naive ones.

[virtualdn]

I'm a BTC enthusiast but I don't support a cashless society. This would give unimaginable control to the governments over the people. Watch out what you wish for. Cash is king. Never forget that. BTC and cash can co-exist together.

[hatshepsut93]

There is no single cashless society and cashless societies form for a variety of reasons. Sometimes it's because of government regulations that ban large cash transactions, and sometimes it's because banks offer such convenient and lucrative options that it's more optimal to pay with them rather than with cash.

What this means for Bitcoin is that cashless society could be both good or bad for Bitcoin. If governments don't like cash, they would regulate Bitcoin payments for the same reasons. But if people are used to electronic payments, they would be more likely to try Bitcoin, especially if Bitcoin will have some sort of edge.

[Dzwaafu11]

Hey, fellow Bitcointalkers! 🚀 Let's hop on the crypto rollercoaster and talk about the future of Bitcoin in a cashless society. 💸 Will our favorite digital gold shine even brighter, or will it face some turbulence? Strap in, no financial advice here – just enthusiasts sharing thoughts. Imagine a world where your grandma pays for cookies with BTC - wild, right? 🍪 Are we heading there or hitching a ride to a different destination? Dive into your crypto crystal ball and let's speculate on the fate of Bitcoin in this cashless adventure. What's your take on its survival skills in a world where cash is as ancient as floppy disks? Share your wild, unfiltered ideas! 🌐✨

I don’t know, but it will be very hard to see that cash doesn’t exist again even in the future. I don’t know why some people still think bitcoin will replace the local currency we are using, and it’s accepted by any government in any country world-wide. However,  even if we later see a cashless society, I believe the government will find another alternative for citizens, and many governments will continue to go against bitcoin and crypto currencies.

Furthermore, let’s keep technological advancement aside. Do you think there will be a situation where there will be no cash flow in a country? Nah, man, I don’t think so. It will be hard, although sometimes cash doesn’t flow regularly in a country, but for it to stop existing and bitcoin to take over is what I always think will be hard.

What this means for Bitcoin is that cashless society could be both good or bad for Bitcoin. If governments don't like cash, they would regulate Bitcoin payments for the same reasons. But if people are used to electronic payments, they would be more likely to try Bitcoin, especially if Bitcoin will have some sort of edge.

And this is what I always think will happen because there will be no cashless society as long as the government is there. Even if we witness such a situation, the government will find an alternative for citizens and won’t allow bitcoin to regulate and make it legal for people to use. Remember that the government cannot have control over bitcoin even if they make it legal for people, and that is what the government doesn’t want. Furthermore, it will also affect the smooth running of bitcoin if there is no cash flow in a society.

[MFahad]

Hey, fellow Bitcointalkers! 🚀 Let's hop on the crypto rollercoaster and talk about the future of Bitcoin in a cashless society. 💸 Will our favorite digital gold shine even brighter, or will it face some turbulence? Strap in, no financial advice here – just enthusiasts sharing thoughts. Imagine a world where your grandma pays for cookies with BTC - wild, right? 🍪 Are we heading there or hitching a ride to a different destination? Dive into your crypto crystal ball and let's speculate on the fate of Bitcoin in this cashless adventure. What's your take on its survival skills in a world where cash is as ancient as floppy disks? Share your wild, unfiltered ideas! 🌐✨

Bitcoin is already shining. and has a very bright future, expect a lot of adoption and money inflows after the recent Bitcoin ETF approval,
But How is that a cashless Society If Bitcoin becomes the Cash of that? Do you know what I mean? Bitcoin replaces fiat money, and grandma pays for Cookies with Bitcoin. then that would mean Bitcoin is our cash in that imaginary world..
I honestly would love to see that happen. which sounds too good to be true, but at least we can dream about that.
Even if that happens sometime in the future, that would take too many years. maybe after 20 or 50 years from now. but We as Bitcoin lovers are happy with any development and achievement by Bitcoin,

[AmoreJaz]

There is no single cashless society and cashless societies form for a variety of reasons. Sometimes it's because of government regulations that ban large cash transactions, and sometimes it's because banks offer such convenient and lucrative options that it's more optimal to pay with them rather than with cash.

What this means for Bitcoin is that cashless society could be both good or bad for Bitcoin. If governments don't like cash, they would regulate Bitcoin payments for the same reasons. But if people are used to electronic payments, they would be more likely to try Bitcoin, especially if Bitcoin will have some sort of edge.

the cashless system may be growing but there are still some bottlenecks on this route owed to the following considerations :
> some financial transactions still need hard cash
> some people will stick to the traditional payment method no matter what esp those living in remote areas
> some merchants especially small ones won't accept digital cash payments but on cash basis only
> it is not practical to use digital cash to pay for coffee or some vegies in a wet market

I'm a BTC enthusiast but I don't support a cashless society. This would give unimaginable control to the governments over the people. Watch out what you wish for. Cash is king. Never forget that. BTC and cash can co-exist together.

just one example that not all people are into total cashless society. even if we say we are already into crypto market, there are still some worries that we need to think about. that is true, if it is total cashless, the government can track all your financial movements. i don't think that's good for your privacy.

[alankasman]

My current thought is only one after the ETF approval and my thought is that Bitcoin becomes an alternative currency that is free to use along with fiat currency. There is no prohibition if we use it in transactions to pay for any goods throughout the world and there is no ban on Bitcoin in all countries such as a strict ban which is strengthened by sanctions if found using it.
It is truly inconceivable if Bitcoin with such a great system is used like fiat currency.

[Mate2237]

The way I am seeing this latest acceptance and approval of this Gold to be use in the global arena, Bitcoin will be the international cashless coin for all the Nations in the world. Bitcoin will advance to the stage where all the countries will use it and there will be no fear to use the coin again. For now all the countries are trying to create their National Digital currency to link to the Bitcoin so that the transaction will be very easy for all to use. And when tht stage has come to the ecosystem then things will be okay for all in the world. Price of things will come down.

[passwordnow]

Paying with Bitcoin with cookies, coffees and other those types of same prices are possible through Lightning Network.

What kind of payment in bitcoin for cookies can we talk about? You somehow quickly forgot what was happening with the bitcoin mempool just recently.

LN.

But I am hoping that someday that it's gonna be actually possible for the actual Bitcoin network to process these transactions for having low fees.

If this is technically possible at all on the BTC-network. It must be admitted that bitcoin is far from ideal.

It's possible but with constraints like what we're facing such as a $2 transaction fee, isn't really ideal from it. Well, you're right sir far from ideal as you say so.

Other than that, I hate to say it but off chain transactions are going to be prevailed with these transactions if the owner of the shops have the exchanges account and you want to pay them with that method.

Most likely it will be that no one will actually send bitcoin back and forth through the BTC-network and will be implemented through something similar to a shell, like the exchanges. But then what's the point of the bitcoin?

Store of value I guess but on the off chain transactions and as for the exchanges, despite that they've got various cryptos there and if the merchant and customer agrees to do it there, that's one solution but many don't like to do that as it breaks through the actual purpose of it and you're right again sir, what's the point of it.

It's an ease for the payor if the payee is allowing transactions like that. But as long the fees are dropping down these days, I know and believe that someday we're going to see it back that transaction fees are going to be centavos again or even less than that. Right now, LN is the solution for these transactions but sadly, there are many merchants that don't know it yet and even payors or users, many of them aren't aware of it.

So, are you saying that many merchants (and users) know about bitcoin, but have never heard of LN? Sounds absurd.

Yes, I've known people who are into Bitcoin but never heard of LN. They just buy and hold.

A faster solution than LN may be needed.

I agree and on a grander scale like it can cater bigger transactions.

[_BlackStar]

There is no single cashless society and cashless societies form for a variety of reasons. Sometimes it's because of government regulations that ban large cash transactions, and sometimes it's because banks offer such convenient and lucrative options that it's more optimal to pay with them rather than with cash.

Without cash – they might just live in the depths of the jungle without ever seeing the beauty of the city. They don't need money or perhaps any means of payment - but there are only a few such primitive tribes in the world. While we are talking about the modern world - cash is something that is always available and everyone will always depend on cash even though technological advancements have changed the way people use their money.

What this means for Bitcoin is that cashless society could be both good or bad for Bitcoin. If governments don't like cash, they would regulate Bitcoin payments for the same reasons. But if people are used to electronic payments, they would be more likely to try Bitcoin, especially if Bitcoin will have some sort of edge.

Optimizing bitcoin adoption can be attempted - but people certainly need to consider transaction fees. LN has so far helped users get low transaction fees - but it will only be able to handle smaller transactions.

If one day governments are forced to adopt crypto as a means of payment, perhaps they will only use CBDC as a currency as a makes sense option compared to bitcoin which they think is too risky. To this day - governments have considered the idea, but not many countries have adopted it.

[Briankimp1]

Hey, fellow Bitcointalkers! 🚀 Let's hop on the crypto rollercoaster and talk about the future of Bitcoin in a cashless society. 💸 Will our favorite digital gold shine even brighter, or will it face some turbulence? Strap in, no financial advice here – just enthusiasts sharing thoughts. Imagine a world where your grandma pays for cookies with BTC - wild, right? 🍪 Are we heading there or hitching a ride to a different destination? Dive into your crypto crystal ball and let's speculate on the fate of Bitcoin in this cashless adventure. What's your take on its survival skills in a world where cash is as ancient as floppy disks? Share your wild, unfiltered ideas! 🌐✨

Personally I believe we are heading towards a digital world but not just yet
I think it’ll take quite awhile for the world to embrace crypto currency’s  because there’s still so much room for crypto currency’s to grow which it hasn’t just yet like on security which people have come to understand that there are still some loopholes that causes distrusts in the global economy example transaction prices which really needs to be looked into at the rate it’s currently going it will drive most investors away knowing they’ll be charge so much for simple transaction that wouldn’t cost them half the price using cash I believe when some of these loopholes are dealt with we will see the whole world embrace digital currencies with ease there are still so many shit coins created for only fraudulent purposes and I don’t believe there’s a solution for that yet this is the type of security cash gives us you can mostly tell a fake note when you see one but how can tell if a coin is fake or real.

[uneng]

A cashless society is likely to take place only when the new generations who were born on the crib of technology are the only people in the world. The old generations won't adapt to a cashless society after living decades of their lives dealing with paper money. A shift like that would be too traumatic. At same time, it doesn't mean many of us can't already live without cash. It's actually already possible, and I'm a example of that. I've been making all my transactions virtually without any prejudices. There are very few exceptions where I can't pay through digital means (I think once or twice in a year time period).

The point is that a cashless society isn't going to happen through Bitcoin, but through the digital fiat version... Bitcoin is just too volatile to allow a society to have a stable financial routine. Human beings seek for stability. Bitcoin would be too stressing for people to deal with as main currency.

[tread93]

Imagine a world where your grandma pays for cookies with BTC - wild, right? 🍪

It’s already happening in countries where people are free to use Bitcoin. I have read several articles about shops accepting bitcoin as payment, this revealation also inspired me to accept Bitcoin in my store. The challenge is not businesses accepting Bitcoin as payment, but rather customers prefer to pay with fiat than spend their bitcoins.  

 What's your take on its survival skills in a world where cash is as ancient as floppy disks?

If this happens, then we will face a bigger centralization problem than we have ever seen. The government is not going to become pro-bitcoin, so if cash no longer exists, people will be forced to accept CBDCs.

CBDCs are inevitable, what I am really afraid of is if the government tries to pull the same shit that President Roosevelt did with the confiscation of gold nearly 100 years ago and replacing with fiat when he forced the public to turn in all of their gold coins and put a huge penalty for those who didn't abide. They would surely have a very hard time doing that because i'm sure a lot of people would say that they "lost" their coins or got "hacked" or something of that nature. I really hope that it doesn't come to that. I don't think a cashless society IMO would carry really any benefit, if anything it will grant less privacy, and ensure that you get taxed on everything.

[BlackBoss_]

CBDCs are inevitable, what I am really afraid of is if the government tries to pull the same shit that nixon did with gold way back when and confiscated all of the American's gold coins. They would surely have a very hard time doing that because i'm sure a lot of people would say that they "lost" their coins or got "hacked" or something of that nature. I really hope that it doesn't come to that. I don't think a cashless society IMO would carry really any benefit, if anything it will grant less privacy, and ensure that you get taxed on everything.

CBDCs are products of governments and central banks so if they decided to create their CBDCs, we can not stop them. They have power and corresponding agencies and tools to launch their CBDCs and make those CBDCs legal tender.

Some websites to track CBDC progress globally.
https://cbdctracker.org/
https://www.atlanticcouncil.org/cbdctracker/
https://cbdctalks.com/

With CBDCs, people will not be given private keys like they can easily have with a non custodial Bitcoin wallet.

[0t3p0t]

Hey, fellow Bitcointalkers! 🚀 Let's hop on the crypto rollercoaster and talk about the future of Bitcoin in a cashless society. 💸 Will our favorite digital gold shine even brighter, or will it face some turbulence? Strap in, no financial advice here – just enthusiasts sharing thoughts. Imagine a world where your grandma pays for cookies with BTC - wild, right? 🍪 Are we heading there or hitching a ride to a different destination? Dive into your crypto crystal ball and let's speculate on the fate of Bitcoin in this cashless adventure. What's your take on its survival skills in a world where cash is as ancient as floppy disks? Share your wild, unfiltered ideas! 🌐✨

Before our grandma has to pay for cookies with Bitcoin I think Bitcoin core devs has to find ways to deflect any attacks or prevent it like ordinals just did so that there will be no future problems that may occur on Bitcoins network.

Well, for me fiat is fiat and Bitcoin is Bitcoin. What I mean is that they do have different technology and the fact that Bitcoin is a decentralized asset it works online as well though they have similar functions. In terms of cashless society, I think Bitcoin has an edge on this as we all know it's fully electronic and has dual purpose like an investment or payment which fiat lacks due to it's stable value.

[boty]

A cashless society is likely to take place only when the new generations who were born on the crib of technology are the only people in the world. The old generations won't adapt to a cashless society after living decades of their lives dealing with paper money. A shift like that would be too traumatic. At same time, it doesn't mean many of us can't already live without cash. It's actually already possible, and I'm a example of that. I've been making all my transactions virtually without any prejudices. There are very few exceptions where I can't pay through digital means (I think once or twice in a year time period).

The point is that a cashless society isn't going to happen through Bitcoin, but through the digital fiat version... Bitcoin is just too volatile to allow a society to have a stable financial routine. Human beings seek for stability. Bitcoin would be too stressing for people to deal with as main currency.

Yes, this is true, for the new generation it may be easy to accept it because they understand technology well and for those who are old it will certainly be very difficult to adapt in this field because they have used fiat money for decades and it will be very difficult if they have to leave cash.
It is indeed impossible if we do not use cash and use payments via Bitcoin because the price fluctuates, of course it will be very difficult for people to use and transact and it would be better to use it to invest.

[Odohu]

Hey, fellow Bitcointalkers! 🚀 Let's hop on the crypto rollercoaster and talk about the future of Bitcoin in a cashless society. 💸 Will our favorite digital gold shine even brighter, or will it face some turbulence? Strap in, no financial advice here – just enthusiasts sharing thoughts. Imagine a world where your grandma pays for cookies with BTC - wild, right? 🍪 Are we heading there or hitching a ride to a different destination?

To know the fate of Bitcoin in a supposed cashless world, first consider how well Bitcoin is being integrated into payment systems of the big economies that are practicing some form of cashless system already. It will surprise you to know that cashless systems does not directly mean they will adopt Bitcoin. Remember there are several payment systems that have already risen to the occasion and offering a reliable alternative to cash. Hence, I do not think that cashless policy supports Bitcoin adoption in any way.

However, I believe a time will come when people will naturally chose to use Bitcoin provided there are a lot motivations and advantages it will offer and also on the policy of the government of the country. When Bitcoin is allowed to flourish in countries as a legal tender, more citizens will surely opt for Bitcoin,

Dive into your crypto crystal ball and let's speculate on the fate of Bitcoin in this cashless adventure. What's your take on its survival skills in a world where cash is as ancient as floppy disks? Share your wild, unfiltered ideas! 🌐✨

According to this article by the Center for Financial Inclusion, about 30% of the world's population is unbanked (that is do not have a bank account). This shows that for us to get to a point where cash will no longer be used across the globe, it will take a very long time.

[Synchronice]

Hey, fellow Bitcointalkers! 🚀 Let's hop on the crypto rollercoaster and talk about the future of Bitcoin in a cashless society. 💸 Will our favorite digital gold shine even brighter, or will it face some turbulence? Strap in, no financial advice here – just enthusiasts sharing thoughts. Imagine a world where your grandma pays for cookies with BTC - wild, right? 🍪 Are we heading there or hitching a ride to a different destination? Dive into your crypto crystal ball and let's speculate on the fate of Bitcoin in this cashless adventure. What's your take on its survival skills in a world where cash is as ancient as floppy disks? Share your wild, unfiltered ideas! 🌐✨

First of all, let's hope that there will never be a cashless society because if there is a one in near future, be sure that you'll never own your funds. Secondly, absolutely no one knows what will happen to Bitcoin because there are many problems today and will be far more tomorrow. Bitcoin can't handle massive amount of transactions, Lighting Network is not the best solution though, so, how are we going to make things easy and fulfill the demand of increased bitcoin transactions? At the moment, it's clear that current Bitcoin can't handle massive usage and the formation of cashless society will take so many years that we can't be sure whether we will still have Bitcoin or if there comes another altcoin that will take it over.

[Volimack]

Hey, fellow Bitcointalkers! 🚀 Let's hop on the crypto rollercoaster and talk about the future of Bitcoin in a cashless society. 💸 Will our favorite digital gold shine even brighter, or will it face some turbulence? Strap in, no financial advice here – just enthusiasts sharing thoughts. Imagine a world where your grandma pays for cookies with BTC - wild, right? 🍪 Are we heading there or hitching a ride to a different destination? Dive into your crypto crystal ball and let's speculate on the fate of Bitcoin in this cashless adventure. What's your take on its survival skills in a world where cash is as ancient as floppy disks? Share your wild, unfiltered ideas! 🌐✨

Talking about the future of Bitcoin it is very difficult to predict the future of Bitcoin. And it is too late to become a cashless society no one knows whether it will happen at all. There are many societies that don't want to use Bitcoin which can cause problems. And if gold is bright the future of Bitcoin looks better than gold.

[Zigabel]

On the Bitcoin network there will really be some challenges especially when there's to many transactions on the network at once because all these small payment may add up to congestion and fees may spike up but then there is the lightening network and possibly there can be other services who could come up in the future to providing swift convertion and confirmation when btc is been used to pay for service both for purchase at stores too. I do believe it's very possible to have Bitcoin in a cashless policy as a means for transactions such that it will be acceptable to everyone.

With the approval of the ETF and the gradual adoption of Bitcoin by most countries I'm very optimistic that the future of a cashless policy where Bitcoin will be acceptable is possible and even close.