Crypto and the block chain have come to stay. In fact, I see cryptocurrencies as the future of payments. We just need to keep pushing for adoption in different industries especially the payment industry and then, we'll see a major shift from traditional banking systems to the block chain and cryptocurrencies.
Libra has taken a good step at making this happen but many people in the US are trying to bring it down because they know the impact it might have on them and their businesses. Crypto will survive this harsh time, I believe it will!
Topic: ALTCOIN IS IN LINE WITH THE HISTORICAL EVOLUTION OF PAYMENT SYSTEM (Read 302 times)
November 05, 2019, 03:14:59 AM
November 05, 2019, 01:38:52 AM
I think there are still a lot of ways to go, it is not really that in line with the evolution of payment systems just yet. It started from the top of it, normally the payment systems improve over time, this has been just 10 years and it is already a high grade payment system as it is.
Yes, there are still long ways to go but starting from the top means it is already at the level and even better than most of the payment systems and it will also put on top of this and get better. Think of it this way, money as we know it had been little coins into gold coins to eventually banknotes and now cards that we use (even phone apps).
So, let's give normal coins (the real life ones that were used 5000 years ago or whatever) 1 out of 100, then gold coins 50 out of 100, then banknotes 70 out of 100 and then cards 85 out of 100, bitcoin starts at 85 and then puts on top of it. Altcoins will remain as secondary way of payments along with bitcoins but what are the coins are going to survive is purely based on its investors, definitely not depends on its uniqueness nor technology innovations.
Yes, there are still long ways to go but starting from the top means it is already at the level and even better than most of the payment systems and it will also put on top of this and get better. Think of it this way, money as we know it had been little coins into gold coins to eventually banknotes and now cards that we use (even phone apps).
So, let's give normal coins (the real life ones that were used 5000 years ago or whatever) 1 out of 100, then gold coins 50 out of 100, then banknotes 70 out of 100 and then cards 85 out of 100, bitcoin starts at 85 and then puts on top of it. Altcoins will remain as secondary way of payments along with bitcoins but what are the coins are going to survive is purely based on its investors, definitely not depends on its uniqueness nor technology innovations.
November 04, 2019, 03:59:18 AM
The battle is not over yet for crypto and bitcoin, china have now fully embraced blockchain but still i belief there are some wars left to fight, what are we going to do about scam IEO and ICO Projects? this is a big issue for adoption rate, every investors are screaming scammers and they are scared of new projects
November 04, 2019, 02:38:29 AM
From the first moment I discovered bitcoin in the beginning of this decade, I knew in my heart that this was the next step in the evolution of money and even though this was it's taking it's sweet time to be actualised, I have never doubted for a second that it will eventually happen, now the Chinese Government sees Blockchain as "Important in the future development of China" and this is just the tip of the iceberg because many more countries would still review Cryptocurrency and decide that it's in their best interest to get into the future if money in this early stage.
October 31, 2019, 11:15:54 AM
There seems to be a battle drawn between world financial authorities and the cryptocurrency community. Although, the likes of Libra and gram coins are centralised, yet they keep having problems with authority.
It is an indication that they are not ready to support cryptocurrency in general.
It is an indication that they are not ready to support cryptocurrency in general.
October 31, 2019, 09:08:02 AM
I do not believe in a fully decentralised world as well. Maybe in 50 years, but the first step towards the mass adoption will be blockchain integration in various industries all around the world and acceptance of crypto as a payment method.
October 31, 2019, 09:03:18 AM
sadly that has not been true for about 8 years.
maybe in early years when the first couple of alternative cryptocurrencies were being created, what OP says were true since they were focusing on actual decentralization and creation of a real currency. but nowadays this is not true at all and instead we are far away from those goals. these days the projects are only being created for profit not innovation. which is why altcoin development has been halted for years and copy pastes have replaced it.
I like your candid opinion, I expect new projects to be advancing with great margin from the initially launched projects, rather the older projects are more improved than recent ones. Most new projects just look cool on whitepaper or their awesome names, but have nothing to show for (in essence most team members nowadays are just in for the money and have no plans to develop the project). Well, very few new projects stand out keeping the hope alive. We are still very far from adoption. maybe in early years when the first couple of alternative cryptocurrencies were being created, what OP says were true since they were focusing on actual decentralization and creation of a real currency. but nowadays this is not true at all and instead we are far away from those goals. these days the projects are only being created for profit not innovation. which is why altcoin development has been halted for years and copy pastes have replaced it.
October 31, 2019, 08:54:56 AM
sadly that has not been true for about 8 years.
maybe in early years when the first couple of alternative cryptocurrencies were being created, what OP says were true since they were focusing on actual decentralization and creation of a real currency. but nowadays this is not true at all and instead we are far away from those goals. these days the projects are only being created for profit not innovation. which is why altcoin development has been halted for years and copy pastes have replaced it.
maybe in early years when the first couple of alternative cryptocurrencies were being created, what OP says were true since they were focusing on actual decentralization and creation of a real currency. but nowadays this is not true at all and instead we are far away from those goals. these days the projects are only being created for profit not innovation. which is why altcoin development has been halted for years and copy pastes have replaced it.
October 31, 2019, 08:50:59 AM
Despite the legal frustration faced by Libra and GRAM, altcoin is in line with the historical evolution of payment system; from bartering to the first coin ever minted (in 600BC) to bank notes to credit card.
In my opinion, full decentralization might not be achieved at the time being but if altcoin survives this phase of trial time, crypto market will witness a massive adoption compare to the previous years but in a very slow pace.
I agree with your insights No doubt that some altcoins are gaining trust as another payment option since its quite useful faster and lesser fees compare to the traditional one for example, Like stellar lumens, or Ripple these two altcoins has a future in payments and i don't know even some other platform and blockchain too that needs to be evaluated. In my opinion, full decentralization might not be achieved at the time being but if altcoin survives this phase of trial time, crypto market will witness a massive adoption compare to the previous years but in a very slow pace.
October 31, 2019, 07:53:01 AM
Yes, I have the same positive beliefs as you. I really support the growing alts of payment services. Many alts are really very good platforms like Credits, Litecoin and some of the altcoins have extremely low transaction costs and very fast speed.
It will undoubtedly be the most used coin in the future when many businesses start accepting cryptocurrency transactions.
Altcoin is good, it is clear that there will always be many who are interested, even many companies like it like Litecoin and others, because altcoin that has been proven to be good will certainly be difficult for us to get, although at this time not many businesses accept transactions in the form of digital currencies. It will undoubtedly be the most used coin in the future when many businesses start accepting cryptocurrency transactions.
October 31, 2019, 07:18:01 AM
Yes, I have the same positive beliefs as you. I really support the growing alts of payment services. Many alts are really very good platforms like Credits, Litecoin and some of the altcoins have extremely low transaction costs and very fast speed.
It will undoubtedly be the most used coin in the future when many businesses start accepting cryptocurrency transactions.
It will undoubtedly be the most used coin in the future when many businesses start accepting cryptocurrency transactions.
October 31, 2019, 07:08:09 AM
Despite the legal frustration faced by Libra and GRAM, altcoin is in line with the historical evolution of payment system; from bartering to the first coin ever minted (in 600BC) to bank notes to credit card.
In my opinion, full decentralization might not be achieved at the time being but if altcoin survives this phase of trial time, crypto market will witness a massive adoption compare to the previous years but in a very slow pace.
In my opinion, full decentralization might not be achieved at the time being but if altcoin survives this phase of trial time, crypto market will witness a massive adoption compare to the previous years but in a very slow pace.
I don't it will be going all real. There's no point of returning back at being decentralized. Though it could be part of it but system has to be regulated, monitored and has an authority on top of it all. It may sound selfish but it would be all problematic if everyone would be all leave unruled. Nevertheless, it could be a part but it cannot be a thing for whole masses.
October 31, 2019, 02:39:26 AM
Despite the legal frustration faced by Libra and GRAM, altcoin is in line with the historical evolution of payment system; from bartering to the first coin ever minted (in 600BC) to bank notes to credit card.
Consider that anti advertising is also an advertisement. Much debates about these issues caused most people to hear about cryptocurrency.In my opinion, full decentralization might not be achieved at the time being but if altcoin survives this phase of trial time, crypto market will witness a massive adoption compare to the previous years but in a very slow pace.
Why do you think Mass adoption will continue slowly? Unlike you, I think it will accelerate as time goes on. Once this circle has established, its growth will accelerate further.
October 31, 2019, 01:48:17 AM
It would really be very difficult to overcome any issue with government if the project is a centralized project, and this is why satoshi is still the wisest person that I have ever seen when it comes to crypto world. Imagine that satoshi had made himself know to the world, this issue being faced by Libra coin and gram is what will be faced by bitcoin also and it may never have grown or be accepted as much as people accepted it now.
Even if people want to take gram and Libra coin, once they remember the stand of government against the projects, they will surely withdraw from using them. Altcoins will really need to struggle hard if they really want to succeed in their program or payment, otherwise, it will be a very big battle between them and the government.
Even if people want to take gram and Libra coin, once they remember the stand of government against the projects, they will surely withdraw from using them. Altcoins will really need to struggle hard if they really want to succeed in their program or payment, otherwise, it will be a very big battle between them and the government.
October 18, 2019, 01:17:54 PM
Indeed adoption is a reason that is a major problem in the crypto space and this is also made worse by government regulations that do not support crypto. But I'm sure that someday adoption will be achieved and the government will realize that there are many benefits they can get from the crypto space.
October 18, 2019, 01:00:20 PM
Despite the legal frustration faced by Libra and GRAM, altcoin is in line with the historical evolution of payment system; from bartering to the first coin ever minted (in 600BC) to bank notes to credit card.
In my opinion, full decentralization might not be achieved at the time being but if altcoin survives this phase of trial time, crypto market will witness a massive adoption compare to the previous years but in a very slow pace.
In my opinion, full decentralization might not be achieved at the time being but if altcoin survives this phase of trial time, crypto market will witness a massive adoption compare to the previous years but in a very slow pace.
Full decentralization will never be achieved as long as there is this institution called the government. Let's just accept the fact that with government regulation, any decentralized cryptocurrency will be centralized through a third party platform wherein the addresses will be attached to the identity on that platform. Altcoin adoption will not be slower than before, I believe it will propagate faster because of the activities and campaigns done in the past.
October 18, 2019, 12:48:15 PM
Sure, there will be a massive adoption in the end but with the regulations and the way they have turned crypto into real money like system they are not really worried about crypo anymore. Look at USDT for example, those dudes keep printing money whenever they want and they buy bitcoins with it anytime they want and let it go down after a while and then do it again so they are collecting all the bitcoins in the market, what do we get in return?
A useless USDT product that you can't even turn into cash anymore, they literally said it was backed 1to1 ratio back when they started but then confessed that its no longer backed 1to1 and people still eat it up and buy it, so as you can see the governments do not care anymore, they got themselves another cash cow anyway.
A useless USDT product that you can't even turn into cash anymore, they literally said it was backed 1to1 ratio back when they started but then confessed that its no longer backed 1to1 and people still eat it up and buy it, so as you can see the governments do not care anymore, they got themselves another cash cow anyway.
October 18, 2019, 12:17:06 PM
The father of all coins which is Bitcoin is in the process of achieving mass adoption and if succeed then I'm pretty sure that altcoins will follow but not all of them because there are lot of unnecessary coin that needed to be remove first before the full realization.
October 18, 2019, 09:44:52 AM
Altcoin time would come sooner or later, because they are representing the true revolution in payment sector, by providing a working solution like 100,000 transactions per second and low transaction fees, but it would take a long time till those will get adopted.
October 18, 2019, 09:39:05 AM
Yes you are right. Cryptocurrency is going forward with the indication of its massive adoption. So far only few countries are on track to adopt cryptocurrency and few countries and business hubs have started accepting it in the method of payments. Regulators and authorities talking about bringing regulations in place aim to adopt cryptocurrency.
Jump to: