Winklevoss Twins Is At It Again

[personEks]

I'd say that there'd always be a form of currency like "cash in hand" that would facilitate face to face transactions that leave no record of the transaction save in the memories of the participants. Even the privacy that could be realized with crypto will not entirely remove the want for an exchange of goods/services for a tangible object with accepted value(i.e. gold, cash, food). I feel that the black market, despite  SilkRoad and other darknet sites, will continue to move largely in this way.
I find it a source of unending irony when bankers/governments cry foul on BTC and crypto for being a haven for black market trade and terrorism when it's painfully obvious that it is USD, which is by far the biggest currency used by criminals and terrorists. You want something illegal? Best have some USD handy, it'll get you whatever you want. My two satoshi worth, if even that...

[calme]

For people who don't want to eliminate fiat currency entirely, let your thoughts be known in your desire to protect fiat. Tell your government that you don't want them to only allow BTC and that some fiat should be allowed.

[lyth0s]

Winklevoss Twins Says, In 10 Years Cash Will Be Obsolete

http://bitforum.info/t/winklevoss-twins-says-in-10-years-cash-will-be-obsolete/546

For me, its really hard to believe that bitcoin could replace cash, not because bitcoin cannot do it, but because bitcoin now is having a hard time breaking into the mainstream. I don't know what's their basis about they said.

Maybe if they said 25 years, maybe Ill believe them.

Well to be honest I believe that in 10 years physical cash will become obsolete in developed countries all together and we will be using all different sorts of debit cards, credit cards, gift cards, mobile payments etc.

With that being said if bitcoin replaced fiat currency in the next 20 years that'd be amazing. But I highly doubt bitcoin would replace fiat within the next 10 years even if it was super successful.

20 years from now hopefully some will necro this thread and quote me

[noobtrader]

soon there will be bitcoin satellite, im sure that hardware wallet will soon have ability to connect with it just like a gps and give us 24/7 coverage to do bussiness with btc even without internet or eletricity 

[Cryptowatch.com]

soon there will be bitcoin satellite, im sure that hardware wallet will soon have ability to connect with it just like a gps and give us 24/7 coverage to do bussiness with btc even without internet or eletricity 

Yes, it is great news, but from what I could see it was very costly, so those going for it, is not in short of money..


Here's some interesting cash facts:

-- http://www.fleur-de-coin.com/trivials/united-states-3

A couple facts that were rather amusing:

Virgin Atlantic Airways discovered that it takes in an average of 18 cents per passenger per flight in loose change found in the plane's seats. If that figure holds for the approximate 320 million people who fly from one country to another worldwide each year, the total is about $58 million. Lost coins on domestic flights don't amount to much, however. Chicago O'Hare cleaning crews said they found only about 6 cents per flight. It is suggested that more travelers to other countries "accidentally" leave foreign coins behind to avoid dealing with them once they get home

A study of American coins and currency revealed the presence of bacteria, including staphylococcus, E. coli, and klebsiella, on 18 percent of the coins and 7 percent of the bills

[kelsey]

For me, its really hard to believe that bitcoin could replace cash, not because bitcoin cannot do it, but because bitcoin now is having a hard time breaking into the mainstream.

I find it impossible to believe bitcoin would ever replace cash, yes some form of electric money will, but bitcoin, well even most this forums users don't actually use bitcoin.

Lets be honest most bitcoiners are in it to make more cash.

[Velkro]

Im tired of this twins, they talk much but didn't do much actually.
Anyways, more news its probably good thing for bitcoin itself :|

[kelsey]

Im tired of this twins, they talk much but didn't do much actually.
Anyways, more news its probably good thing for bitcoin itself :|

despite not being a fan, they'll do alot in bringing btc to wallstreet investor types, just the wheel turns slow with red tap etc hardly their fault though, and much of the btc make a quick buck community is impatient.

[Q7]

Revolution? That sounds progressively but I would look at it at different way. I expect cash to be still around at that time but people would be less exchanging all the paper currency. I think online transaction would be taking over everything, bitcoin will be there as well and used more often and that's it. But I don't think cash will be totally dead by then.

[Cryptowatch.com]

Im tired of this twins, they talk much but didn't do much actually.
Anyways, more news its probably good thing for bitcoin itself :|

Well, they do at least have this site:
http://winkdex.com/

And they're working on this:

Why The Winklevoss Twins' New Bitcoin ETF Matters

The Winklevoss Bitcoin Trust, currently moving towards regulatory approval, could be approved by the end of 2014 and will be a Bitcoin exchange-traded fund (ETF), with each share representing an amount of bitcoin held by the Trust. Currently, such an investment vehicle is only available to wealthy investors, through funds like the Bitcoin Investment Trust. The Winklevoss ETF will allow people with a brokerage account to invest in Bitcoin without having to worry about the challenges of buying, storing, and safekeeping bitcoin.

So, at least to me it seems like they're doing something..

[12345mm]

I have an "if everything goes to hell" bag.  It contains some basics - MRE's, water filtration stuff, fishing hooks and line, matches (in waterproof container), candles, fish net, some protective clothing, field guide to edible/poisonous plants and wilderness survival (printed on paper, in waterproof bag), first aid including snakebite kit, crowbar for clearing rubble/breaking out of rubble, toolkit, replacement bits for things likely to be damaged by certain kinds of disasters or disabled by people's mistaken responses to disasters, radio, hand-crank recharger ....  and, oh yeah, some cash.  

I hope to spend the remainder of my life without needing to grab that bag in a real emergency, but ...  well, it would be kind of dumb not to have one.

gotta have an armageddon bag i'd suggest some physical silver and gold as barter items in addition to the physical fiat (in case of global economic collapse fiat may be worthless) ... silver is super cheap today vs gold and in a post apocalyptic world shiny coin/bar to barter vs shiny coin/bar to barter i'm guessing silver will do just fine for such a circumstance ... also ... gun beats knife ...

[calme]

Most people are just struggling to make it through the day or week, never mind an armageddon. An armageddon would be an escape for them.

[12345mm]

Most people are just struggling to make it through the day or week, never mind an armageddon. An armageddon would be an escape for them.

yeah yknow i personally am on the fence whether i'd like to experience such a thing in my lifetime ... on the one hand , likely reset of equality for mankind what with a presumed death of 99%+ of the population / destruction of all electronic finance systems ... so ... good ... kindof ... in terms of general equality in that we'd all be back to living in the 4th world hunter gatherer land ... assuming i'd survive of course ... plus i like hiking ... on the other hand i like my house i own , and my hybrid , and my iphone , even if i'm not a millionaire/billionaire ... status quo for most is probably preferable to total societal breakdown ... though it would be exciting ... that's for sure ...

[duckydonald]

Teach teh kids at schools, and make bitcoin fun for them,  create bitcoin arcade stores, things like this will help bitcoin

also how come now contributor in the community taught how to put bitcoin in games such as just-dice?  Why is no one teaching devs?

[Cryptowatch.com]

Teach teh kids at schools, and make bitcoin fun for them,  create bitcoin arcade stores, things like this will help bitcoin

also how come now contributor in the community taught how to put bitcoin in games such as just-dice?  Why is no one teaching devs?

If you google a little bit, you'll find plenty of projects aiming to teach devs.

[Fat Ronaldo]

I'd say that there'd always be a form of currency like "cash in hand" that would facilitate face to face transactions that leave no record of the transaction save in the memories of the participants.

What about importing peoples private keys/addresses? Bitcoin could be traded on paper wallets or maybe a better and foolproof physical medium to hold bitcoins would be invented.

[turvarya]

Technology is always hard to predict.
Look at PayPal. I just looked it up, they were founded 1998. Look at their success now.
Look at facebook. Even elderly people are using that. Founded in 2004.

10 years is just a huge timeframe, when you put it in this perspective.
I think, there just has to be the right event in the right moment and half the world would use Bitcoin on a daily basis 2 years later.
I have no idea what this event is, I don't think, it is this ETF from the Winlevos twins.

Still, I don't think, cash will become obsolete. Fax machines e.g. didn't become obsolete. We still have one in our company.

[Snail2]

Cash, gold and gems never going to be obsolete. Those are the only truly anonymous and easy to use methods for money transfer .

[HarmonLi]

Winklevoss Twins Says, In 10 Years Cash Will Be Obsolete

http://bitforum.info/t/winklevoss-twins-says-in-10-years-cash-will-be-obsolete/546

For me, its really hard to believe that bitcoin could replace cash, not because bitcoin cannot do it, but because bitcoin now is having a hard time breaking into the mainstream. I don't know what's their basis about they said.

Maybe if they said 25 years, maybe Ill believe them.

I think  they're a bit too optimistic about that. Thing is... I believe in BTC, as well. I know they have to stand up for their commitment, sure, but replacing FIAT-cash... come on... that won't happen!

[Amph]

well i don't mind the fall of cash, as long as there is the fall of fiat with it  

bitcoin also can replace cash perfecty, since cash is used for anon and for evading taxes, many will use bitcoin instead of cash for this reason