Bitcoin and the Future of Money

[pinggoki]

Long-term impact? I'd say that it will be affecting those that will invest in it most of the time, I don't believe that it will affect the economy big time because it's like stocks but the only difference is that there's no company behind it. Maybe it will have some kind of impact when it becomes adopted as a legal tender by more countries, we know that the more people that are using bitcoin then the more the demand increases for it and with more demand there is then the price will definitely increase, that's the only way that bitcoin will have a long-term impact that would be significant to the global economy in my opinion, bitcoin's already good as it is but the problem is that the recognition is still so lo and the resistance and skepticism of many economic leaders is still rampant, maybe if we start changing that, we would see something different or maybe even better, we might expedite the long-term impact that we're talking about.

[martinex]

Long-term impact? I'd say that it will be affecting those that will invest in it most of the time, I don't believe that it will affect the economy big time because it's like stocks but the only difference is that there's no company behind it. Maybe it will have some kind of impact when it becomes adopted as a legal tender by more countries, we know that the more people that are using bitcoin then the more the demand increases for it and with more demand there is then the price will definitely increase, that's the only way that bitcoin will have a long-term impact that would be significant to the global economy in my opinion, bitcoin's already good as it is but the problem is that the recognition is still so lo and the resistance and skepticism of many economic leaders is still rampant, maybe if we start changing that, we would see something different or maybe even better, we might expedite the long-term impact that we're talking about.

An interesting thought from you, but regardless of what you said above, there is no message that BTC wants to convey to all who believe that BTC is a win-win solution in the future and We'll see when more countries recognize and adopt Bitcoin as a legal currency.

Regarding sustainability, of course, lies in demand, the more that comes to BTC, the better the growth even though market volatility is often inevitable plus skepticism from many parties that still exists today and continues to haunt it. Yes. This is tied to adoption and consumer trust of course.

[kro55]

I don't know because we don't even know how far bitcoin can go yet and we're only in the early stages, it's hard to say anything.
Many people think that bitcoin will be as big as gold, will have an impact on the world economy, banks... blah... blah... all are just baseless predictions and no one can guarantee what they say.

We should focus on one stage at a time and the next thing we should aim for is bitcoin being legalized globally before thinking about bigger things. Bitcoin has not even been adopted globally yet, there are still many countries that have not legalized it, so don't rush to think unrealistic things.

[Morpheus_Exodus]

Interesting suggestion about LP on an EVM compatible network for bonuses. As for the BTC chart, a hanging candle mid-air sounds like an intriguing moment. Are you expecting a bullish breakout?

[Darker45]

One could easily write an entire book on each of topic that you mentioned here. These are very broad topics. We can break them down further.

Anyway, I am generally looking forward to the day when money would be separated from the state. Bitcoin might become the strongest case for it. Such isn't anymore a mere theory because Bitcoin exists. It's a hard proof that it can be turned into a reality.

Another point is that money in the future could be designed in such a way that it is neutral and can't be influenced by external factors. Such is the design of Bitcoin.

Banking would adapt. The process is gradual. It has already started.

As to the global economy, it has yet to adjust to the kind of money that Bitcoin is. The world remains a fiat world.

[Natsuu]

Speculating on the long-term impact of Bitcoin on the future of money, banking, and the global economy.

Due to high transaction fee, and higher percentage rate of appreciation overtime. I think Bitcoin would be use as wealth preservation like gold and other assets instead and not as fiat like dollars. And in fact, many investment companies are now considering Bitcoin as one of their instrument to keep their investments. Yes it can be use for transactions as it's have a true value, but for me I don't see it to be used as major currency but as in a form of investment.

[Rockstarguy]

I don't know because we don't even know how far bitcoin can go yet and we're only in the early stages, it's hard to say anything.
Many people think that bitcoin will be as big as gold, will have an impact on the world economy, banks... blah... blah... all are just baseless predictions and no one can guarantee what they say.

The reason why many people are speculating bitcoin on how it will be big in the future is because in this early stage of bitcoin it has done very well, getting more awareness,  of good benefit to people and a ledger tender in some countries. From what people can see in this early stage of bitcoin,  it is belive bitcoin will be bigger than other asset that have been existing before bitcoin was created. How far bitcoin have gone is an assurance that it will be of greater in the future.

We should focus on one stage at a time and the next thing we should aim for is bitcoin being legalized globally before thinking about bigger things. Bitcoin has not even been adopted globally yet, there are still many countries that have not legalized it, so don't rush to think unrealistic things.

For bitcoin to be legalized is very important because this will give people access to accept it freely and it will also give bitcoin more awareness. For the short time bitcoin have being we can all see that it is good having it as an asset and I know adoption won't be a problem for bitcoin, it may not come very fast as we want but it will be adopted by most countries.

[SeriouslyGiveaway]

The impact of Bitcoin on the future global monetary system and economy is inevitable. Since Bitcoin was born until now, it has gradually changed many people's thinking about money. Previously, many people still thought that cash could store value and could not collapse, but with the emergence of Bitcoin, people have come to understand how cash is created and how are their labor exploited through cash?

When the Bitcoin ETF was approved, it opened a new page for Bitcoin, officially making it a part of the mainstream financial system, which could create competition for other currencies such as the US dollar or euros. This could lead to the weakening of some traditional currencies and push them to look for ways to improve and modernize.

Traditional banking will also be challenged with the emergence of Bitcoin as cross-border money transfers are almost faster, easier and eliminate many complicated intermediaries when using Bitcoin. This means banks may have to adapt by offering new services or finding ways to integrate blockchain technology into their operations.

On a more macro level, Bitcoin can affect the monetary policy of a certain country. If Bitcoin becomes more popular and affects the global financial system, authorities such as Central Banks may need to reconsider their approach to currency management.

[Marvell1]

When the Bitcoin ETF was approved, it opened a new page for Bitcoin, officially making it a part of the mainstream financial system, which could create competition for other currencies such as the US dollar or euros. This could lead to the weakening of some traditional currencies and push them to look for ways to improve and modernize.

How will Bitcoin compete with dollars and euros? Do you think the US government accepts bitcoin ETFs so that bitcoin can compete with the dollar? I don't think they are that stupid.
By the way, they accept bitcoin ETF, which means they treat it as an asset, an investment, not allowing bitcoin to become a currency.

Traditional banking will also be challenged with the emergence of Bitcoin as cross-border money transfers are almost faster, easier and eliminate many complicated intermediaries when using Bitcoin. This means banks may have to adapt by offering new services or finding ways to integrate blockchain technology into their operations.

Banks provide dozens of services to users and play an important role in our economy, banks are not only used to deposit money or transfer money across borders. Banks aren't limited to those little things, so bitcoin can't easily challenge banks' dominance either. Don't be too naive to think that bitcoin is so big that it can challenge the world.

On a more macro level, Bitcoin can affect the monetary policy of a certain country. If Bitcoin becomes more popular and affects the global financial system, authorities such as Central Banks may need to reconsider their approach to currency management.

Until now, bitcoin was just an asset, an investment. It has not made any significant impact on the economy or financial system of any country, let alone the world.

[bitterguy28]

Speculating on the long-term impact of Bitcoin on the future of money, banking, and the global economy.

Due to high transaction fee, and higher percentage rate of appreciation overtime. I think Bitcoin would be use as wealth preservation like gold and other assets instead and not as fiat like dollars. And in fact, many investment companies are now considering Bitcoin as one of their instrument to keep their investments. Yes it can be use for transactions as it's have a true value, but for me I don't see it to be used as major currency but as in a form of investment.

and this is what exactly what we are doing in bitcoin now , using this as like physical investment like Bitcoin because the main objective of users now wanted to keep holding instead of using as payment and that for me is something we must be warned , because if we all continue doing such then we will not hitting what Satoshi wanted to happen.

[Fiasem20]

In my own term on how I would speculate on the long term impact of Bitcoin is Bitcoin is the currency of the future.Bitcoin is a deflationary currency that has created for financial freedom globally.Bitcoin was created to purchase goods online without the involvement of a middleman but due to it's volatility in nature,enthusiasts have adopted the investment scheme for long term that profits huge amount return.Bitcoin is a digital currency not only a digital currency but it has it's unique monetary policy[Decentralization].

[m2017]

The impact of Bitcoin on the future global monetary system and economy is inevitable.

But the impact is likely to be very different from the expectations of bitcoiners. In fact, these changes are already being felt - it’s not for nothing that governments are developing CBDC's inspired by blockchain.

Since Bitcoin was born until now, it has gradually changed many people's thinking about money.

You wanted to say about investments, didn't you? Because this is how most people perceive bitcoin, and not as money.

Previously, many people still thought that cash could store value and could not collapse,

It's all because of their ignorance. Money (especially paper money) was never intended to store value.

but with the emergence of Bitcoin, people have come to understand how cash is created and how are their labor exploited through cash?

People's interest in bitcoin has encouraged them to study financial issues in general.

[kryptqnick]

Bitcoin is an alternative to fiat and to traditional financial assets. But it's not a mutually exclusive alternative. People can use Bitcoin alongside fiat, and they can invest into Bitcoin while investing into other assets. That is why, while I believe that Bitcoin will continue growing and might at some point reach, like, a billion users, it won't disrupt the existing global economic structures, unless something unprecedented happens. It can coexist with traditional financial institutions and currencies, and I think that's how things will move forward.

[legiteum]

It's all because of their ignorance. Money (especially paper money) was never intended to store value.

Thank you. (I would send you a +merit but I am presently out).

I am amazed how many people simply don't understand the difference between transacting and investing.

In summary, US Dollars have three potential roles:

1. As an investment instrument (usually not a good one for the long term).

2. As a means of performing a transaction.

3. As a means of measurement.

My experience is that people can't wrap their heads around that last concept: that the US Dollar is a measurement, like meters are for distance or kilos are for weight. Measurement systems like the metric system and the imperial system are used because people know them, and since that phenomenon feeds on itself, one can understand why they will never go away (and this explains, for instance, why the US is still stuck on the imperial system even after 60 years of trying to get out of it).

But you can use USD as a measurement even if you don't use it in the other two ways (again, look at what we are doing with the UE for Haypenny). This is why I think that, even while the first two uses (investment and transactions) may fizzle out for US Dollars, the third usage will stay around forever because we will always need a way of measuring a transaction that everybody agrees upon.

[KingsDen]

Speculating on the long-term impact of Bitcoin on the future of money, banking, and the global economy.

When you read older threads, you will have clearer understanding how the future works and what our duty is presently. The early bitcoin adopters had believed that by now bitcoin believers should be using bitcoin to buys things from the grocery shops. This is because of the promise of;

• Fast transaction
• Low transaction

But now, we are faced by reality that altcoins are doing the above two more than bitcoin.
I therefore, speculate the future of bitcoin only as A store of value , i.e the digital gold as it is being referred to, more than as a currency.

[usekevin]

Long-term impact? I'd say that it will be affecting those that will invest in it most of the time, I don't believe that it will affect the economy big time because it's like stocks but the only difference is that there's no company behind it. Maybe it will have some kind of impact when it becomes adopted as a legal tender by more countries, we know that the more people that are using bitcoin then the more the demand increases for it and with more demand there is then the price will definitely increase, that's the only way that bitcoin will have a long-term impact that would be significant to the global economy in my opinion, bitcoin's already good as it is but the problem is that the recognition is still so lo and the resistance and skepticism of many economic leaders is still rampant, maybe if we start changing that, we would see something different or maybe even better, we might expedite the long-term impact that we're talking about.

The bitcoin was the best one for the long term investment,many traders get fear after the price of the bitcoin reduces to 60k dollars.But now check the price of the bitcoin it already near to 61.9k and on the way to the 62k dollars.The bitcoin was the decentralised one as like the other cryptocurrency it’s doesn’t have any company behind it to manipulate and make the trader at risk.The price variation of the bitcoin was purely based on the market demand of the bitcoin.

The price of the bitcoin was based on the legalisation of the cryptocurrency by the particular country.By legalisation two things will happen,one is the trader never need to worry of the loss of the money if they made their investment in the good coin.Secondly the taxes from the cryptocurrency leads to the usage of their government for their people by introducing some good schemes.This legislation plays huge role in the variation of the price of the bitcoin.

[Zanab247]

Speculating on the long-term impact of Bitcoin on the future of money, banking, and the global economy.

when you are talking of Bitcoin you are talking of a digital currency and we all know quite well that there is different between someone who is banking with bitcoin and someone who is banking with Fiat currency so from my own understanding I believe that bitcoin is more safe than someone who is investing with a Fiat currency because Bitcoin how a decentralized method in which a fiat currency have a centralize method to operate

BTC has played a good role in the life of users in different countries, which is the reason many people prefer to hodl BTC than fiat money because they know that no matter how long you hodl your fiat money in your bank account, it will not give you what BTC will give to you in a long period of time.

Government is the control of Centralized currency, which they can print more money to be in circulation for the citizens to use to provide food and other things to their families, and BTC is not control by the government because it was created for government to use to eliminate delay in transaction and unemployment in their various countries.

BTC can pump higher during the bull season for hodlers to earn well from the market, but fiat money don't use to pump for fiat hodlers to earn a big profit from their hodling because is a centralized currency.

[Shamm]

Speculating on the long-term impact of Bitcoin on the future of money, banking, and the global economy.

when you are talking of Bitcoin you are talking of a digital currency and we all know quite well that there is different between someone who is banking with bitcoin and someone who is banking with Fiat currency so from my own understanding I believe that bitcoin is more safe than someone who is investing with a Fiat currency because Bitcoin how a decentralized method in which a fiat currency have a centralize method to operate

BTC has played a good role in the life of users in different countries, which is the reason many people prefer to hodl BTC than fiat money because they know that no matter how long you hodl your fiat money in your bank account, it will not give you what BTC will give to you in a long period of time.

Government is the control of Centralized currency, which they can print more money to be in circulation for the citizens to use to provide food and other things to their families, and BTC is not control by the government because it was created for government to use to eliminate delay in transaction and unemployment in their various countries.

BTC can pump higher during the bull season for hodlers to earn well from the market, but fiat money don't use to pump for fiat hodlers to earn a big profit from their hodling because is a centralized currency.

Comparing the fiat and Bitcoin is easy to determine that where we can earn a lot of profits.  Holding a Bitcoin have the chance that we will got rich in the future as we all know that there's a chance that the current price will got doubled or trippled and that is what happen if the price increase then our investment or hodl amount will increase too. While investing on fiat only few of it will got a high income. But some of it are it's just a normal thing that can make a profits  too slow. So Bitcoins is one of the best investment coins.

[livingfree]

Speculating on the long-term impact of Bitcoin on the future of money, banking, and the global economy.

Bitcoin is already disrupting the banking industry and the same goes to the financial technology. The impact that it provides to the global economy is actually a lot.

You can have the conception that it does for those investors that are providing millions of investment on it. They're impacting the market cap of it and also the individuals that are part of it.

So, if it's about the global economy impact that it does, it's certain that it sure gives a lot of benefits to every aspect of life that's holding it.

[Ojima-ojo]

Speculating on the long-term impact of Bitcoin on the future of money, banking, and the global economy.

At a time like this when regulators are hitting hard on privacy of money and how money moves in the hands of the citizens, bitcoin future can be said t be a little unclear and seems that the time we enjoyed true freedom have past and for sure it may takes alot of struggle and hustle to have freedom in the future and if that be the requirements for the freedom of money that comes along with bitcoin it then means there is no freedom at all if the government is allowed to sweep privacy under their foot.


But the bitcoin original design is to support the financial inclusion of everyone who adopt it and also serving as an alternative to the highly centralised financial system around the world.