Topic: Are we about to redefine money again with Bitcoin? - page 4. (Read 588 times)
in my opinion, If you want electronic currency Become shaped like the currency we are using it is quite difficult and must undergo a revolutionary change or acceptance is quite long.
Good article, with bitcoin the money will be redefined because it is not an simple technology but it is revolution, it changes everything related to money.
True. As we can see shape and form of money changed as we evolved solve old problems money had. Bitcoin does solve a crucial problems fiat money face, if the community accepting bitcoin grows, bitcoin has the potential to be used as a global currency.
Yes, we are redefining money with bitcoin. Bitcoin is better than USD, gold and even will be platinum if BTC hits 40K USD. I Don't think Bitcoin will replace the fiat money, but everyone will take bitcoin seriously as their investment.
for the future purpose of bitcoin is actually to replace fiat currency, and I think that is the hardest thing but I believe dengab future of increasingly sophisticated technology that all can be realized.
BTC lacks intrinsic value, people might falsely argue, sending transactions is the intrinsic value of BTC. Sending transactions doesn't give an edge for BTC to compete against traditional currencies. Until BTC doesn't have intrinsic value, replacing fiat would be difficult. One scenario where bitcoin would work as currency is when the global population, consider it acceptable similar to cowrie shells accepted by the people of Uganda.
Some of governments recognize Bitcoin as an asset, not a currency. It is something like a share of a company that can be bought without using a stock market and securely transferred using a strong asymmetric cryptography directly to a buyer which can live anywhere. I think the replacing a fiat money is almost impossible, because the national economies are based on them. The governments will protect the financial system of a country they managed. Yes, the shape of money is changing, the currencies evolve and go forward.
Bitcoin doesn't have value, it has a perceived value. Similar to brass rings used in West Africa, provided the tribe agree on using it, it works as a tool of exchange, ie. money. The price, on the other hand, gravitates to the cost of producing a bitcoin, same can be observed in commodities. Lack of intrinsic value prevents bitcoin's relative stability, but it can be used as money since we have empirical evidence of using objects as money without intrinsic value within communities.
it's probably all because bitcoin has value, and that's very good with when bitcoin has a shape, and with a future that always rises in price.
Even for BTC or alternative cryptocurrencies to be eligible as money, they need to satisfy all attributes of fiat. To replace fiat, you don't have to be different but rather better than it. Fiat has intrinsic value, no matter how much we argue. The intrinsic value comes from coercion, pay your taxes or go to jail. Fiat has extrinsic enforcement by governments issuing denominated currencies, to determine its value. A 5 dollar is always a 5 dollar.
BTC lacks intrinsic value, people might falsely argue, sending transactions is the intrinsic value of BTC. Sending transactions doesn't give an edge for BTC to compete against traditional currencies. Until BTC doesn't have intrinsic value, replacing fiat would be difficult. One scenario where bitcoin would work as currency is when the global population, consider it acceptable similar to cowrie shells accepted by the people of Uganda.
I am bullish on Ethereum having a higher chance to dethrone the fiat currencies.
BTC lacks intrinsic value, people might falsely argue, sending transactions is the intrinsic value of BTC. Sending transactions doesn't give an edge for BTC to compete against traditional currencies. Until BTC doesn't have intrinsic value, replacing fiat would be difficult. One scenario where bitcoin would work as currency is when the global population, consider it acceptable similar to cowrie shells accepted by the people of Uganda.
I am bullish on Ethereum having a higher chance to dethrone the fiat currencies.
In the past, the interpretation of money was changing and still doing, long ago these paper we're dealing with today were not, buying with a Mastercard everywhere you go wasn't even a dream, now we're slowly going to cryptocurrencies mass adoption, a simple light transaction click is very near until that happen BTC and the others alts will not be defined as money from the majority.
We, humans, have evolved and so did the tool used as money. We have experienced problems with fiat currencies in third world countries, due to hyperinflation. As we moved away from cowrie shells to metal coins, metal coins to fiat money, I believe we will move away from fiat to cryptocurrencies.
I absolutely agree that Bitcoin is redefining money. The fiat system and King dollar is about to die a violent death and the powers that be needed something to replace it and push us towards one world government. And then Bitcoin appeared. Those who get on early get to live well after the transition. Those with fiat under the mattress get to be slaves.
Good article, with bitcoin the money will be redefined because it is not an simple technology but it is revolution, it changes everything related to money.
True. As we can see shape and form of money changed as we evolved solve old problems money had. Bitcoin does solve a crucial problems fiat money face, if the community accepting bitcoin grows, bitcoin has the potential to be used as a global currency.
Good article, with bitcoin the money will be redefined because it is not an simple technology but it is revolution, it changes everything related to money.
I tried to articulate why cryptocurrencies would be the future and redefine money again. The article talks about how and why money took the shape we have today, and how and why cryptocurrencies can also take that shape.
Please provide feedback if you have 10minutes. Clap and share if you find it interesting.
https://medium.com/@anvay.rane/are-we-about-to-redefine-money-again-4bed5344ebaa
Please provide feedback if you have 10minutes. Clap and share if you find it interesting.
https://medium.com/@anvay.rane/are-we-about-to-redefine-money-again-4bed5344ebaa
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