The Future of Bitcoin in a Cashless Society

[Kavelj22]

The UAE conducts the first digital dirham transfer via the central bank’s digital currency platform mBridge: https://ar.cointelegraph.com/news/uae-digital-dirham-transfer-mbridge-cbdc
On the other hand, a member of the USA Congress took note of the progress achieved by the mBridge project, as Representative Maxine Waters, a member of the House Financial Services Committee, expressed her concern about the possibility of using the project as a cover to avoid economic sanctions.

Even though this step is far from the concept of cryptocurrencies as we all know it, it can be considered a qualitative leap in the use of blockchain technology. The United Arab Emirates is considered one of the leading countries in the world and not only in the Arab region, but this development will have a major impact on the countries of the Arab region in the first place, since the Gulf region is a country of the Gulf Cooperation Council, which is essentially an economic alliance. The impact is likely to also include China's economic partners, which explains the concerns in the statements of the Congress woman, given that China is establishing alliances with countries on which the US government imposes economic sanctions, and China can use the digital transfer bridge as it is prepared to circumvent those sanctions. The most notable of these countries is Russia, which has been banned from using the SWIFT transfer system since two years.

[Yatsan]

Society and all transactions has a chance to happen in the future but I doubt that Bitcoin and other cryptos wou be leading the progress given that there are still issues with its adoption and that blockchain is not acknowledged in some countries due to its properties. Money is simply a system of exchange and there has to be an arbitrary with currencies to have a single one. Also, given countries and states are not one with the whole, then this seems to be impossible on the same extent. Still a long way for this industry in general but glad that progress is visible to this industry and blockchain in general.

Banks are now introducing their own coins which could be a conflict with the viewpoint that Bitcoin will be the center of transactions in the future. There are many possible chages that could take place as this industry grows. But I agree, co-existence would be more likely to take place no matter how I view it than to have a single currency which did not even happen in the first place.

[tread93]

The UAE conducts the first digital dirham transfer via the central bank’s digital currency platform mBridge: https://ar.cointelegraph.com/news/uae-digital-dirham-transfer-mbridge-cbdc
On the other hand, a member of the USA Congress took note of the progress achieved by the mBridge project, as Representative Maxine Waters, a member of the House Financial Services Committee, expressed her concern about the possibility of using the project as a cover to avoid economic sanctions.

Even though this step is far from the concept of cryptocurrencies as we all know it, it can be considered a qualitative leap in the use of blockchain technology. The United Arab Emirates is considered one of the leading countries in the world and not only in the Arab region, but this development will have a major impact on the countries of the Arab region in the first place, since the Gulf region is a country of the Gulf Cooperation Council, which is essentially an economic alliance. The impact is likely to also include China's economic partners, which explains the concerns in the statements of the Congress woman, given that China is establishing alliances with countries on which the US government imposes economic sanctions, and China can use the digital transfer bridge as it is prepared to circumvent those sanctions. The most notable of these countries is Russia, which has been banned from using the SWIFT transfer system since two years.

Honestly when we sanctioned Russia we just gave them the green light to search for another alternative way, I mean what do you think the Russia in a state of war  is going to do? Not transact w/ currency to get shit they need? They US can keep imposing sanctions but this just means that they are giving other countries and excuse to look for an alternative money transfer, and who couldn't blame them when the US cuts them off from the SWIFT Nipple? lol. Also Russia and States like Ukraine are experts with hacking and probably divulging crypto funds, they probably know how to move funds more discreetly than most countries, probably China as well just to get past US Sanctions. How many alternative methods of money transfer to you think exist that the US doesn't know about it is not concerned about?

[Dunamisx]

Since the Introduction of Bitcoin, fiat has not been searched for as the way everyone wants to have bitcoin for their financial economy, this is because the people realized also that it's due time for us to have an alternative currency that will give us better satisfaction to what we needed it for in our financial economy, this comes in when there was this discoveries that alot of things have been going wrong with using fiat and bitcoin has become a substitute for it, all the benefits in bitcoin adoption make it more acceptable by the people.

[usekevin]

Since the Introduction of Bitcoin, fiat has not been searched for as the way everyone wants to have bitcoin for their financial economy, this is because the people realized also that it's due time for us to have an alternative currency that will give us better satisfaction to what we needed it for in our financial economy, this comes in when there was this discoveries that alot of things have been going wrong with using fiat and bitcoin has become a substitute for it, all the benefits in bitcoin adoption make it more acceptable by the people.

The fiat had their own value and bitcoin had their own market.Many experienced trader waiting for the bitcoin to over loop the fiat.So the bitcoin will fully replaced by bitcoin,So every people here uses the bitcoin as their investment asset.This will increase the demand for the bitcoin as the trading tool,the people also staking their money in the bitcoin staking.So the trader must understand the concept of staking.Because many website provide you more money for staking the bitcoin in the original exchange.When the demand for the bitcoin increase compared to the dollar.In some days the dollar was replaced by the bitcoin.The salary of the workers also given in terms of the bitcoin in the future.

[CryptopreneurBrainboss]

Also, given countries and states are not one with the whole, then this seems to be impossible on the same extent. Still a long way for this industry in general but glad that progress is visible to this industry and blockchain in general.

Two countries have already adopted bitcoin as their legal tender, if two countries can do this then there's nothing stopping other countries from doing the same. It'll take just one world power country for everything tp change in the favour of Bitcoin. Let say Russia accept Bitcoin as their legal tender, other countries would follow. I didn't use US as an example because that looks very impossible to happen but other counties can make Bitcoin their official currency and things will change from there. The world tends to follow a trend, Bitcoin is steadily getting global adoption as more things that looked Impossible in the past are becoming a reality like Bitcoin spot ETF.

Banks are now introducing their own coins which could be a conflict with the viewpoint that Bitcoin will be the center of transactions in the future. There are many possible chages that could take place as this industry grows. But I agree, co-existence would be more likely to take place no matter how I view it than to have a single currency which did not even happen in the first place.

Bitcoin was invented as an alternative to fiats currency and not as a replacement so they can coexist. Central Bank Digital Currency (CBDC) won't work as the future of money because everything is pointing towards Bitcoin. The institutional investors are coming into the market very fast and the introduction of Bitcoin spot ETF would make things more faster and soon they might dominate the whole industry. Bitcoin is going to be the face of the cashless society but before that happens alot of things has to be improved within the Blockchain like the transaction fees and congestion on the Blockchain before Bitcoin becomes a mainstream accepted currency.

[EFS]

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

Cash hasn't been used for a long time, everyone uses credit cards. The emergence of Bitcoin has nothing to do with going cashless. Whether Bitcoin is invented or not, this was going to happen anyway. The idea of using Bitcoin for micro-transactions is long gone, the expectation for it has diminished. Maybe other crypto-currencies will fill the gap in this area, but I think Bitcoin's main goal is to replace gold and lead as a store of value rather than to replace cash.

[BenCodie]

Gold will be in the form of encrypted USB keys and private keys that never touched the internet.

Cash will be in the form of noncustodial hot wallets that are built for watches, phones, maybe even jewelry devices....or...microchips (if you're into that).

Will Bitcoin be featured in these inventions? That is what we are yet to discover. Improvements to the protocol still need to go ahead if this sort of reality is to feature Bitcoin and not a new decentralized technology that fits the role better.

[Asuspawer09]

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 dont know how we are going to remove fiat money from our life especially because we are being run by the government which only supports fiat money sure it is because it is money that they just can manipulate, I mean they could easily print more money at any time they want and then inflation hit just like that it doesnt really matter what its effect on use, inflation is just going to hit and make us broke so obviously Bitcoin which is a digital gold is actually a good way to store value in the future.

Probably the way I see things in the future is both fiat and Bitcoin are still going to exist but Bitcoin is just going to be huge for most countries or even around the world where it is already used in our everyday life since it is already adapted in a lot of countries to the point where even small stores are already accepting Bitcoin kinda similar to e-wallets that we use to pay online which is already accepted in a lot of stores. Probably cash is still going to exist but everyone is just using Bitcoin as a form of payment.

When the Bitcoin is already mine we dont really know how it is going to happen but in the future upgrades in the network for sure are going to be a thing for fast transactions and low to zero fees. Also, volatile market prices could be a thing that is probably going to make it great as an investment.

[Pi-network314159]

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! 🌐✨

Yes in time coming btc will virtually be used for every online transaction. We would go cashless but not %100 maybe %70 because illiteracy will be a barrier to many people.

[LastKiss]

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! 🌐✨

A lot of countries want to develop their own digital currency because currency from paper is already outdated, I think Bitcoin will be most known as digital gold rather than payment because Bitcoin is very volatile. I saw lots of cases where many people complained about the huge fees when sending Bitcoin to other wallet, Bitcoin should have low fees to make it become handy as a payment. I hope everyone can have some Bitcoin/satoshi to keep as their future investment, we just going to see the fourth halving and now the Bitcoin price is around $40k, I can' imagine what price Bitcoin when we touch the tenth halving thought.   

[Patrol69]

In the society you live in, you will find people who will be critical of Bitcoin and those who will say something positive about Bitcoin. Those who criticize are not only criticizing Bitcoin but all good works are being criticized. Do you think such a popular digital currency as Bitcoin will not be popular with some critics? Those who criticize such thinking are wrong, they have been criticizing before, but they did not stand in the way of Bitcoin's progress. Ever since it came into the Bitcoin market people are adopting it and day by day the popularity of Bitcoin is increasing and new users are getting aware of Bitcoin and getting involved with Bitcoin. 
Various major companies are now buying bitcoins and many companies are also facilitating the use of bitcoins to buy and sell their products. These factors are definitely positive for Bitcoin and these positive aspects will continue to increase in the future and this coin will become more popular in the future.

[Miles2006]

If you think this will happen sooner or later then surprising how people still use bitcoin for transaction purpose so this should not be something new cause I have actually seen people pay with bitcoin, even with this idea it doesn't necessary mean people should abandon using fiat cause a lot of bitcoin enthusiasts choose to hold bitcoin for investment purpose etc. Op, your idea is great but you should deviate this idea to something else not fiat and bitcoin, there's no comparison so let's not make a big deal from this.
I will prefer to store my bitcoin rather than using it for transaction purpose to buy food stuffs, I read a similar topic here and the op was criticizing a tenant who used bitcoin as means of paying rent instead of storing it, to be sincere in as much as we need the adoption of bitcoin to increase this is not the right way to do such. Don't even dream of a cashless society cause a lot of people will find other alternative.

[Games.Bitcoin]

Due to technological development we are moving towards a cashless society day by day. As currently fiat money can be carried through various banks and apps. No need to carry cash. Also, carrying a large amount of cash with you is very unsafe as it may get lost or stolen at any time. But there is no problem if you move with money in digital system. Perhaps in the future we will see Bitcoin give birth to a universally accepted digital currency cashless society.

[Mr. Magkaisa]

First of all, I don't think the world is moving toward a cashless society. Some countries certainly are, but many are very far from it, and some are actively resisting it. So it's not just a matter of technological advancement. Countries like Italy are advanced enough, but just don't want to get rid of cash, and there is a similar situation with Germany.
But let's imagine all the obstacles are gone, and we are moving toward a cashless society. The way I see it, there are two different ways of getting there. One is cashless, but dominated by centralized structures like banks and corporations. In that case, Bitcoin doesn't play a major role. Another is cashless and decentralized, in which case Bitcoin can play a major role. It all depends on how much humanity will value privacy over national safety, security.

         -   Here in our country, apart from credit cards and other ATM cards, we also have local wallets that we can use to pay for groceries and other merchants that accept them. But when it comes to cashless cryptocurrency or decentralized, it's not that obvious yet.

Maybe it will take a few more years before it happens that most business establishments will accept Bitcoin or digital payment like we are in this industry field.

[Renampun]

Due to technological development we are moving towards a cashless society day by day. As currently fiat money can be carried through various banks and apps. No need to carry cash. Also, carrying a large amount of cash with you is very unsafe as it may get lost or stolen at any time. But there is no problem if you move with money in digital system. Perhaps in the future we will see Bitcoin give birth to a universally accepted digital currency cashless society.

bitcoin will not possibly give birth to coins or other new tokens to be accepted in a cashless society lol anyways bitcoin is better to stay as it is now.
With the emergence of Bitcoin, the real cashless era has just begun, apart from that there are many benefits that can be gained if cashless is adopted, wood for printing money will no longer be used, automatically the environment will continue to be protected.
Apart from that, it is important to adopt Bitcoin in the future, the goal is so that all transactions occur transparently and are not covered up.

[HideYourKeys]

My guess is that in a few years it will be quite expensive to use bitcoin on chain, and the majority of people will end up using some sort of custodial solution, using BTC only on second or third layers

[cryptodude]

We have now entered a largely castleless world. At present, many people have entered the cashless mode, which facilitates transactions through fiat money cards and online apps.
However, Bitcoin can take us to a completely cashless world. Because having wealth in it means owning your own bank. However, we cannot go to a completely cashless society so easily. Moreover, much depends on how much you value privacy over national security and safety.

[Abiky]

BTC

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's future is uncertain. It could either become the cornerstone of a cashless society or become a failed experiment in the long run. "Wall Street" now owns Bitcoin, so it's likely big investment companies will destroy its true value proposition in the future. I'm talking about Bitcoin becoming a centralized cryptocurrency manipulated by the "Elite" and mainstream governments. Perhaps, it will become the "One World Currency" many were talking about. If it doesn't, then CBDCs (Central Bank Digital Currencies) will be the ones that will "rule the world".

I'm certain a cashless society will happen one way or another. After all, the world is transitioning to the digital era at a very fast pace. The COVID-19 pandemic just accelerated digital payments adoption worldwide. Who uses cash (paper money) these days? I'd be surprised if 10-20 years from now, our society hasn't fully transitioned to a cashless one. Hopefully, BTC stays decentralized for as long as it lives. Just my thoughts

[bayu7adi]

Bitcoin's future is uncertain. It could either become the cornerstone of a cashless society or become a failed experiment in the long run. "Wall Street" now owns Bitcoin, so it's likely big investment companies will destroy its true value proposition in the future. I'm talking about Bitcoin becoming a centralized cryptocurrency manipulated by the "Elite" and mainstream governments. Perhaps, it will become the "One World Currency" many were talking about. If it doesn't, then CBDCs (Central Bank Digital Currencies) will be the ones that will "rule the world".

I'm certain a cashless society will happen one way or another. After all, the world is transitioning to the digital era at a very fast pace. The COVID-19 pandemic just accelerated digital payments adoption worldwide. Who uses cash (paper money) these days? I'd be surprised if 10-20 years from now, our society hasn't fully transitioned to a cashless one. Hopefully, BTC stays decentralized for as long as it lives. Just my thoughts

OMG... everything I think is contained in your writing. If I keep it simple, paper money will disappear replaced by digital culture or cashlesh. Bitcoin has a chance to compete with digital FIAT, but ETFs limit Bitcoin's flexibility as a decentralized asset. What I see is that it is difficult for Bitcoin to reach the top as the king of currencies, it will never happen as long as there are still many centralized agencies interfering in the international currency industry.

Even though the world needs cryptocurrencies, CBDC will be the first to become the choice of the global elite. My hope is that Bitcoin should remain decentralized forever.