Cryptocurrency Research Project HELP

[zaccolombo]

Hey everyone, I'm doing my research project for school about cryptocurrencies. I was wondering if i could have some detailed answers to this question. I need other peoples thoughts on the topic.
 
Can some cryptocurrencies be viable and ethical for the future?
 
Please answer with your most honest opinions and thoughts about whether a cryptocurrency can be a currency of the future

Zac.

[Yakamoto]

Man I wish I could do some of these.

Short answer: Yes.

Long answer:

You will have to examine the coins that have current come out, or are prepped for release, but a minority will ever be viable and ethical. Namely, Bitcoin, Litecoin, Darkcoin, Vertcoin (Maybe), and I'm observing the future potential of others, such as NXT, XMR, among others.

Depends what you want to define as ethical. If you mean a semi-constant rate of exchange, it will take time but it will be viable in the future. We live in WAY to much of a hectic environment for anything to be stable for prolonged periods of time. I nearly guarantee it will be that way in the future, but it will be somewhat volatile, maybe similar to how it is today, with $10-40 price swings commonplace.

Bitcoin, however, will be a store of crypto value, and I doubt it will be the commonplace currency of the future. I think it's exactly as some people say; Bitcoin is crypto gold, Litecoin is crypto silver, and Darkcoin is crypto copper or Sterling sliver. (last one is my opinion)

I believe a new crypto will take the place of everyday transactions. Not because I'm a coin hater, but 21-million coins (Even if they're divisible to the 8-th value) is too small a number and is more a way to store value as opposed to use it everyday.

TL;DR: Yes they will be.

[Swordsoffreedom]

Hey everyone, I'm doing my research project for school about cryptocurrencies. I was wondering if i could have some detailed answers to this question. I need other peoples thoughts on the topic.
 
Can some cryptocurrencies be viable and ethical for the future?
 
Please answer this specifically and in detail. Thank you for your time.
Zac.

Mind clarifying what you mean

In short Yes: Cryptocurrencies are viable and ethical
Not sure what you meant by in the future.

Think about a voluntary mechanism of exchange that users around the world can participate in with a limited supply preserving its value it provides a usable alternative to a traditional central banking fiat system, and addresses the new way money can be transacted online digitally at a low cost.

Especially in terms of energy costs, imagine all the ATM's branches and physical locations, plus the printing of money it uses a lot of electricity, with Bitcoin there are miners securing the network voluntarily and the cost to transfer ratio can be ridiculously low even free for large enough transactions.

So rather that viable and ethical crypto is the future.

[zaccolombo]

Hey everyone, I'm doing my research project for school about cryptocurrencies. I was wondering if i could have some detailed answers to this question. I need other peoples thoughts on the topic.
 
Can some cryptocurrencies be viable and ethical for the future?
 
Please answer this specifically and in detail. Thank you for your time.
Zac.

Mind clarifying what you mean

In short Yes: Cryptocurrencies are viable and ethical
Not sure what you meant by in the future.

Think about a voluntary mechanism of exchange that users around the world can participate in with a limited supply preserving its value it provides a usable alternative to a traditional central banking fiat system, and addresses the new way money can be transacted online digitally at a low cost.

Especially in terms of energy costs, imagine all the ATM's branches and physical locations, plus the printing of money it uses a lot of electricity, with Bitcoin there are miners securing the network voluntarily and the cost to transfer ratio can be ridiculously low even free for large enough transactions.

So rather that viable and ethical crypto is the future.

I'll word it a little better.
Could a cryptocurrency potentially become our main currency of the future? (Replacing USD, AUD etc.)

[Swordsoffreedom]

I'll word it a little better.
Could a cryptocurrency potentially become our main currency of the future? (Replacing USD, AUD etc.)

Thanks, in that case my opinion is yes a cryptocurrency has the potential (note potential) ability to become the main currency of a country in the future, a digital mechanism and online payments are already starting to become commonplace things a recent example we can look at is Sweden, one can argue that in many parts of the developed world this trend is following a similar pattern.

Will it become the main currency of trade for all countries is another question since some countries economic/political situations call for different approaches due to the lack of proliferating technology needed to build a digital based payment system. Example in Africa with mobile phone companies and projects like M-Pesa although alternatives like Bitcoin may be able to infiltrate and become part of the money remittance market in that area, currency in physical form will still have utility for years to come.

http://news.yahoo.com/sweden-cash-king-no-more-082544562.html
http://www.bloomberg.com/news/2013-04-10/era-of-paper-money-dies-out-in-sweden-as-virtual-cash-takes-over.html

That said all in all crytocurrencies will have a role in the worlds future monetary system in one form or another.

[zaccolombo]

Thanks, in that case my opinion is yes a cryptocurrency has the potential (note potential) ability to become the main currency of a country in the future, a digital mechanism and online payments are already starting to become commonplace things a recent example we can look at is Sweden, one can argue that in many parts of the developed world this trend is following a similar pattern.

Will it become the main currency of trade for all countries is another question since some countries economic/political situations call for different approaches due to the lack of proliferating technology needed to build a digital based payment system. Example in Africa with mobile phone companies and projects like M-Pesa although alternatives like Bitcoin may be able to infiltrate and become part of the money remittance market in that area, currency in physical form will still have utility for years to come.

http://news.yahoo.com/sweden-cash-king-no-more-082544562.html
http://www.bloomberg.com/news/2013-04-10/era-of-paper-money-dies-out-in-sweden-as-virtual-cash-takes-over.html

That said all in all crytocurrencies will have a role in the worlds future monetary system in one form or another.

Thank you so much, this has helped me greatly. Your opinion on the topic is great and i thank you for your time.

[Swordsoffreedom]

Thank you so much, this has helped me greatly. Your opinion on the topic is great and i thank you for your time.

Your welcome glad it helped you out, best of luck with your research project.