Bitcoin and Fiat - this is how I see the future - page 15.

entrepmind23

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Quote from: eloqant on July 06, 2018, 03:16:05 PM

Your point with governments trying to control as many money flows as they can is very true. However, bitcoin transactions are not anonymous, rather pseudonymous, and every attempt to convert cryptocurrency to physical goods or money can be traced..

Government would want to get its share of the transactions through taxes or fees and due to the limitations of the bitcoin not being used all the way to purchase goods as there are only selected merchants that accepts it, people have no choice but to convert it to fiat and through this way, government would be able to trace the people who would convert it because more often than not, the platform that would be use for conversion is registered and licensed by the government so they need KYC.

I don't mind anyway paying taxes because it is my responsibility as a citizen but there are times when the taxes are just too much and then it would just go to the pockets of certain individuals because of corruption. It would be better if the system of paying taxes is in blockchain too and the flow of money would be traceable so that we can caught those corrupt people.

kalawang

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Quote from: cynical on June 10, 2018, 02:50:02 AM

At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.

So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.

The real problem here, the future type in this way. Cause I support the right now is a start of the future of our currency, I support the right now is not true if you have the market will bear in this era of cryptocurrency and it will do. Cause I support that bitcoin is a good job of cryptocurrency,

Sled

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Bitcoin- in bullish time

Quote from: MMA on July 06, 2018, 04:18:05 PM

Quote from: ofelia25 on July 06, 2018, 03:10:52 PM

Quote from: Pinkris128 on June 24, 2018, 06:30:56 PM

Quote from: wewe123 on June 23, 2018, 05:45:49 AM

Bitcoin is soaring high to become future currency surpassing the fiat money, but the thing is bitcoin can mainly be used to places where there are abundant supply of power and no interruption of internet access, but for rural areas with no internet access ,fiat money play vital role in finances because bitcoin is only on line, so I see fiat and bitcoin will go through.

Both fiat and bitcoin will more usable in the future. But it was limited because as what you have said some people cant access bitcoin means that fiat will still remain to them. Actually bitcoin will just be more useful when it comes to transaction from one place to another which is more easier and faster. It is better of you will have these two currency.

I am happy with the current status of bitcoin right now and that is we can use the buy at low and sell at high method all the time, in that we are simply investing and gaining even for a little amount.

Yes still it is a good time for investment, as the price is still trading too much low, i think that bitcoin is still giving us a good opportunity of making money and we should not waste the time and should investment in right now. Bitcoin is the most popular currency of the world and will be the most popular for long long time.

Of course it is still a good time for investment in bitcoin because the price is such a steal deal for people who are looking for this kind of opportunity to get some bitcoin. Bitcoin is such a great investment and it is far way better than choosing other investment since bitcoin is more likely to go up and give more profits than the others.

RockBar0

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Quote from: eloqant on July 06, 2018, 03:16:05 PM

Quote from: cynical on June 10, 2018, 02:50:02 AM

At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.

So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.

Your point with governments trying to control as many money flows as they can is very true. However, bitcoin transactions are not anonymous, rather pseudonymous, and every attempt to convert cryptocurrency to physical goods or money can be traced..

Governments in many countries are seriously studying and accepting Bitcoin as an online currency, a valuable commodity in the market. The advantages of Bitcoin and Blockchain technology should be applied in the financial management and security of governments, which would be a great thing.

MMA

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Quote from: ofelia25 on July 06, 2018, 03:10:52 PM

Quote from: Pinkris128 on June 24, 2018, 06:30:56 PM

Quote from: wewe123 on June 23, 2018, 05:45:49 AM

Bitcoin is soaring high to become future currency surpassing the fiat money, but the thing is bitcoin can mainly be used to places where there are abundant supply of power and no interruption of internet access, but for rural areas with no internet access ,fiat money play vital role in finances because bitcoin is only on line, so I see fiat and bitcoin will go through.

Both fiat and bitcoin will more usable in the future. But it was limited because as what you have said some people cant access bitcoin means that fiat will still remain to them. Actually bitcoin will just be more useful when it comes to transaction from one place to another which is more easier and faster. It is better of you will have these two currency.

I am happy with the current status of bitcoin right now and that is we can use the buy at low and sell at high method all the time, in that we are simply investing and gaining even for a little amount.

Yes still it is a good time for investment, as the price is still trading too much low, i think that bitcoin is still giving us a good opportunity of making money and we should not waste the time and should investment in right now. Bitcoin is the most popular currency of the world and will be the most popular for long long time.

cmacwiz

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Quote from: cynical on June 10, 2018, 02:50:02 AM

At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.

So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.

Well it's true that Bitcoin is doing really well in the financial markets and it's popularity among the people is also increasing day by day among the people all over the world because of which it's demand among the people is also increasing tremendously daily. But still I would prefer Fiat currency over bitcoin because firstly, Fiat currency is way more popular than bitcoin and Fiat currency has way more potential users through out the world than bitcoin. Also Fiat currency is way more accepted than bitcoin.

eloqant

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Quote from: cynical on June 10, 2018, 02:50:02 AM

At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.

So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.

Your point with governments trying to control as many money flows as they can is very true. However, bitcoin transactions are not anonymous, rather pseudonymous, and every attempt to convert cryptocurrency to physical goods or money can be traced..

ofelia25

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Quote from: Pinkris128 on June 24, 2018, 06:30:56 PM

Quote from: wewe123 on June 23, 2018, 05:45:49 AM

Bitcoin is soaring high to become future currency surpassing the fiat money, but the thing is bitcoin can mainly be used to places where there are abundant supply of power and no interruption of internet access, but for rural areas with no internet access ,fiat money play vital role in finances because bitcoin is only on line, so I see fiat and bitcoin will go through.

Both fiat and bitcoin will more usable in the future. But it was limited because as what you have said some people cant access bitcoin means that fiat will still remain to them. Actually bitcoin will just be more useful when it comes to transaction from one place to another which is more easier and faster. It is better of you will have these two currency.

I am happy with the current status of bitcoin right now and that is we can use the buy at low and sell at high method all the time, in that we are simply investing and gaining even for a little amount.

aezotxmb

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If bitcoin continues to develop, then the rights of Fiat will weaken, and the government will start to control bitcoin in terms of taxation.

Pinkris128

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Quote from: wewe123 on June 23, 2018, 05:45:49 AM

Bitcoin is soaring high to become future currency surpassing the fiat money, but the thing is bitcoin can mainly be used to places where there are abundant supply of power and no interruption of internet access, but for rural areas with no internet access ,fiat money play vital role in finances because bitcoin is only on line, so I see fiat and bitcoin will go through.

Both fiat and bitcoin will more usable in the future. But it was limited because as what you have said some people cant access bitcoin means that fiat will still remain to them. Actually bitcoin will just be more useful when it comes to transaction from one place to another which is more easier and faster. It is better of you will have these two currency.

XinXan

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Quote from: 1Referee on June 24, 2018, 07:19:30 AM

Quote from: XinXan on June 24, 2018, 05:40:23 AM

But most people cannot afford to get paid in Bitcoin, not even 10% They are not traders, they also don't know about the market, getting paid in bitcoin and then watching the price crash is certainly not anyone's pleasure.

It's optional, it's not forced upon you. If you think it's not smart to ditch fiat then you simply don't.

To add; no one will just blindly accept getting a chunk of his wage paid in Bitcoin. Those that go for this option know what they do and know what risks they expose themselves to, which is why they only stick to a lower percentage. These people don't have any direct use for that lower percentage and accept that the fluctuations might push the price lower.

The only situation where it's not optional is when you work for services generating revenue solely in crypto, but still, you're not forced to work for any of them.

Im just saying its something too complicated for the average joe. Also your boss would probably not want to pay you in bitcoins either. Bitcoin is not seen as a currency anymore so we should really focus on that instead of trying to make businesses and people adopt it.

BartS

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Quote from: cynical on June 10, 2018, 02:50:02 AM

At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.

So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.

The war on cash has been ongoing for sometime and you are right governments want to eliminate cash with the excuse of eliminating drug transactions that are made on cash but their real goal is to get tax evaders and to have a greater degree of control over the economy, and they are going to try to do the same with bitcoin with all of their regulations but they do not understand this is never going to work because unlike cash they have no control of bitcoin at all.

Freddie Aguiluz

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Quote from: kive2k on June 10, 2018, 05:26:40 AM

Personally, I see the future without fiat money, but a full cashless settlement. The Internet currency is the currency of the future, there will be a word behind it.

I see a future that has a lot of scammers and hackers. If the future holds a digital world having a digital money, then the theif will be digital too just to robb some one's money in an easy way.

1Referee

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Quote from: XinXan on June 24, 2018, 05:40:23 AM

But most people cannot afford to get paid in Bitcoin, not even 10% They are not traders, they also don't know about the market, getting paid in bitcoin and then watching the price crash is certainly not anyone's pleasure.

It's optional, it's not forced upon you. If you think it's not smart to ditch fiat then you simply don't.

To add; no one will just blindly accept getting a chunk of his wage paid in Bitcoin. Those that go for this option know what they do and know what risks they expose themselves to, which is why they only stick to a lower percentage. These people don't have any direct use for that lower percentage and accept that the fluctuations might push the price lower.

The only situation where it's not optional is when you work for services generating revenue solely in crypto, but still, you're not forced to work for any of them.

kinamotorami

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In my opinion, BTC will never be able to replace fiat, because now if the BTC is put into the transaction and into daily life, the government will have to invest in technology and human resources to serve. so the cost is quite high.

XinXan

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Quote from: richardsNY on June 23, 2018, 06:17:19 PM

Quote from: rainezerr401 on June 23, 2018, 02:26:05 PM

not every people in the world can manage to earn cryptocurrency so people will be still using fiat in the future.

The world is changing rapidly. There are more and more businesses where employees can choose to get a part or even everything of their salary paid out in Bitcoin. I personally wouldn't go as far as completely accepting Bitcoin as salary, but I am open for a 10% monthly Bitcoin payment. In most cases I buy Bitcoin on a monthly basis already, so it would only make things more convenient for me. It would directly stimulate people to start spending their coins since it's less likely to be considered an investment. I definitely would spend them where possible....

But most people cannot afford to get paid in Bitcoin, not even 10% They are not traders, they also don't know about the market, getting paid in bitcoin and then watching the price crash is certainly not anyone's pleasure.

acheampong64

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Quote from: cynical on June 10, 2018, 02:50:02 AM

At a time where I see currencies moving away from cash to digital I think the reason is partly so that governments can control the flow of their currency more particularly for laundering. They can possibly gain more taxation from a cashless currency because cash cannot be fully traced. If i sell my car for cash to another individual the government dont get any revenue from that because it is not traceable.

So in a governments aim to control our money it will leave a big opening for bitcoin and other decentralised crypto to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure.

I also think so. I think what governments are trying ti do is to create a system that will make both cryptos and fiat coexist. I'm not sure they will allow crypto to overtake fiat fiat fully, they will allow coexistence so that they can get tax on ot as you said. Also some governments perceive their currency to be the best and so they won't succumb to a new currency to take over.

richardsNY

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Quote from: rainezerr401 on June 23, 2018, 02:26:05 PM

not every people in the world can manage to earn cryptocurrency so people will be still using fiat in the future.

The world is changing rapidly. There are more and more businesses where employees can choose to get a part or even everything of their salary paid out in Bitcoin. I personally wouldn't go as far as completely accepting Bitcoin as salary, but I am open for a 10% monthly Bitcoin payment. In most cases I buy Bitcoin on a monthly basis already, so it would only make things more convenient for me. It would directly stimulate people to start spending their coins since it's less likely to be considered an investment. I definitely would spend them where possible....

poplolnman

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Quote from: potatocorner on June 19, 2018, 04:16:12 PM

Quote from: kive2k on June 10, 2018, 05:26:40 AM

Personally, I see the future without fiat money, but a full cashless settlement. The Internet currency is the currency of the future, there will be a word behind it.

That is impossible to happen. though we already have different crypto currencies around and they are more known, fiat will never be removed from countries. We need it, and what are you saying is not necessary in this topic because what you said falls into another problem. It only says here thay bitcoin will be dominant over fiat because of what it can do in transactions.

A cashless society might could happened in smaller scale , it's like impossible to get adopted by common people , required a long longtime ... To completely throw away fiat and replaced by Bitcoin or any other crypto . There's a lot of small step running to support crypto usage in our daily life , for example fanchain who have a vision to change the way a sports fan support their favorite teams to get rewarded by this token , ripple that engage conventional banks and many more! All of these pushing the cashless society to happen, yet it's sure cost a very long time.

StImelda

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Governments are already seeing the loopholes and that they will lose some benefits such as those you mentioned,that is why they are trying to control cryptos by the various legislation being made.Eventually,crypto will triumph because people will actually prefer it.

Topic: Bitcoin and Fiat - this is how I see the future - page 15. (Read 3984 times)