Bitcoin and Fiat - this is how I see the future - page 5.

awik p

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Quote from: hastag_80 on September 26, 2018, 06:09:14 AM

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.

Actualy having an vision or prediction on our own idea especially into the world of cryptocurrency are great,but talking only the bitcoin and fiat that would remain in the future and would survive are very long story,because altcoins now are also popular in terms of exchanging currency,especialy those coins thats contains erc20 like etherium.

although ethereum is currently experiencing a drastic decline, many people still believe it. and is still widely used to exchange every ico project. whereas fiat, i think it will still be the main exchange tool, is still very long to be replaced

hastag_80

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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.

Actualy having an vision or prediction on our own idea especially into the world of cryptocurrency are great,but talking only the bitcoin and fiat that would remain in the future and would survive are very long story,because altcoins now are also popular in terms of exchanging currency,especialy those coins thats contains erc20 like etherium.

lebronLALK

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Governments will create their own cryptocurrency, which will be easier to control and manage than using today's crypto coins.

Ucy

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Compare rates on different exchanges & swap.

Have you even considered the disadvantages? Don't get carried away too easily ... too much power to the government will only attract power hungry people. People need to learn from history.
Governments have too much unchecked powers already. They are run by complete strangers you know nothing about but you think you know very well.

I guess too much news is making us so dumb. Maybe less News especially from deceptive media will bring common sense back to Societies.

Jingjess

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Yes, Fiat will not be totally removed by it will decrease in its operation little by little because blockchain technology will be very busy that time. So crypto /Bitcoin will reign as future money.

Dudeperfect

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Well, not everyone is concerned about the taxation point of view when it comes to the cryptocurrency but the interest lies in the fundamental philosophy of both the payment systems. Even crypto users are willing to pay tax according to the law but they are concerned about the control and manipulation of their wealth by any third party including the government. Since crypto is based on blockchain technology which relies on the principle of decentralization, we have the option to control our funds without overlapping any law.

SirLancelot

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Quote from: darkr on September 18, 2018, 10:53:19 AM

Quote from: Girlsbit on September 16, 2018, 03:36:54 PM

It will be two currencies that will complement each other.

Not the currencies but the types of money. Fiat will be used wider but with the crypto you will earn more traditional dollars or Euros. Thus, they will live together.

I think there will be a harmony between Bitcoin (cryptocurrency) and fiat. Cryptocurrency will not be able to completely eradicate the existence of fiat. But the technology will spread obviously so people would have two choices. One to keep a portion of their income in the form of Bitcoin or any coin and to hold the rest in the form of fiat.

This will be good as well because for precautionary purposes, you need instant transaction and Bitcoin does offer instant transaction but not everywhere across the world.

dr_chen

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For governments, there is a system that is currently established and the laws were regulated and the collect of taxes and the follow up of money is regulated regularly. Therefore, governments do not want to accept crypto currencies yet.

cahbagus555

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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.

Digital money different with bitcoin. Bitcoin is decentralized and digital money still controlled by central banks and government. Government still can collect from bitcoin transaction because every goods we bought already attached taxes like VAT.
I am seeing in the future, government regulate bitcoin and bitcoin growing more bigger, and we can spend it on any merchant in the world

ucingucingan

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I look more at bitcoin as the future of the world economy, because bitcoin is a transaction that uses blockchain technology to make it easier for users to transact anywhere and anytime without the amount, distance and time limit and incurred excessive transaction costs even close to zero ( 0) aka free, besides that in terms of security it is also very maximal and the transaction is transparent so that it can be seen by anyone of course this will prevent acts of corruption

Silberman

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Quote from: Argoo on September 18, 2018, 12:11:10 PM

Quote from: Silberman on September 12, 2018, 04:12:54 PM

Quote from: CPetersson on September 09, 2018, 01:36:11 PM

In the way you think, authoritarian countries won't have any cryptocurrency that could be used eligible?
Government won't allow us (citizens) to use cryptocurrency, to buy smth in supermarket and pay crypto for that. There will be a very huge war between government, or we should change todays government (usually 50+y.o. people that will never understand cryptocurrency) to young generation.

I think that something like a war against cryptocurrencies is going to happen but governments are going to lose and the reason is simple, how are they going to regulate a market that was designed specifically to avoid regulation? How are they going to avoid that people use it when they have no control over it? When it comes to their fiat they have complete control and so you have to comply but when it comes to bitcoin they cannot control the network.

In fact, not everything is as simple as it seems at first glance. Only transactions between citizens can remain secret from the state. However, the purchase, exchange and sale of crypto-currency in other cases may be known to the state and then it through the crypto-currency will be able to control the financial activity of citizens. Under these operations, the state will force people to leave their data and our anonymity will practically disappear.

But that will only happen if you use centralized exchanges, at some point decentralized exchanges are going to become a reality and are going to allow us to exchange our coins, that way you will avoid that possibility that you are bringing and then when the adoption of bitcoin finally happens and people begin to sell products directly for bitcoin any regulation is going to be ineffective.

jimmyd178

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Government will never respect your privacy when the need something. The simple reason why bitcoin and fiat will not have that friendly relationship is as a result of privacy and control which government is known for. we need ICOs to begin to get practical enough to address challenge gaps rather than struggling to get to exchange. What mfchain is doing is a good one. We will soon witness crypto being used as currency rather than hodling for profit.

Argoo

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Quote from: Silberman on September 12, 2018, 04:12:54 PM

Quote from: CPetersson on September 09, 2018, 01:36:11 PM

In the way you think, authoritarian countries won't have any cryptocurrency that could be used eligible?
Government won't allow us (citizens) to use cryptocurrency, to buy smth in supermarket and pay crypto for that. There will be a very huge war between government, or we should change todays government (usually 50+y.o. people that will never understand cryptocurrency) to young generation.

I think that something like a war against cryptocurrencies is going to happen but governments are going to lose and the reason is simple, how are they going to regulate a market that was designed specifically to avoid regulation? How are they going to avoid that people use it when they have no control over it? When it comes to their fiat they have complete control and so you have to comply but when it comes to bitcoin they cannot control the network.

In fact, not everything is as simple as it seems at first glance. Only transactions between citizens can remain secret from the state. However, the purchase, exchange and sale of crypto-currency in other cases may be known to the state and then it through the crypto-currency will be able to control the financial activity of citizens. Under these operations, the state will force people to leave their data and our anonymity will practically disappear.

darkr

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Quote from: Girlsbit on September 16, 2018, 03:36:54 PM

It will be two currencies that will complement each other.

Not the currencies but the types of money. Fiat will be used wider but with the crypto you will earn more traditional dollars or Euros. Thus, they will live together.

robotrobert

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Quote from: deisik on September 12, 2018, 04:35:34 AM

Quote from: Bonpay on September 10, 2018, 08:09:55 AM

If we truly want mass adoption for Bitcoin, we have to wait for about 20 years. Why? Because of old people who have money stored in fiat all over the world.

Let's stop talking about better technology, anonymity, security and all other things. The majority of people in the world don't even care how Visa or Mastercard work. Let's talk about usefulness and trustfulness.

To build trust Bitcoin needs to stop being so volatile, but how can it be done if it is volatile specifically because people en masse don't trust it? I'm not speaking of the forum members obviously and our likes, I mean people who are not interested in cryptocurrencies just for the crypto aspect of it. I beforehand agree with what you are going to say, that trusting fiat (instead of Bitcoin) is a mistake, a big mistake at that. It is a mistake but try to explain that thing to all these people who honestly believe what their governments are telling them. But without these people wholeheartedly accepting Bitcoin (instead of fiat), the future for it looks pretty grim

It will remain a vehicle for speculation and a tool for shady Internet payments

Everyone knows it that fiat is connected with us as we are living under government which provides us a comfortable life. This life is now more comfortable with the crypto currencies especially with the Bitcoin which make things friction-less. These two are making life easy and we need both in different occasions or you can say occasional need requires these two.

kidsrock

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Quote from: spongegar on September 16, 2018, 07:34:04 PM

That is a very pessimistic view of the government albeit accurate to a point. I think it's more like the banks themselves are putting pressure on the government or the government themselves have a vested interest in keeping crypto currency as unstable as possible. Lastly, fiat will stay longer than we want it to be since it's not possible right now to have a sole crypto currency world.

I think fiat can stay longer like you said, as long as fiat still available on all country and people still use fiat to buy something. the crypto especially bitcoin will stay with us too and I think the crypto can help us to solve the problem about financial. I hope that in the future, bitcoin and fiat can work together and can help people to make a better life.

amiramakam

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governments aim to control our money it will leave a big opening for bitcoin and other decentralized cryptos to exist along with fiat and will allow people to "trade" anonymously with each other over a completely independent infrastructure. by that, they will tax Bitcoin easier, Transactions valued at $ 600 or more will be taxed as a regular asset. These transactions include Bitcoin payments, Bitcoin investment income and Bitcoin revenue generated from the computer. If you pay employees by Bitcoin, the company will also have to pay federal income tax on this amount.

Charlessy

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Quote from: kidoseagle0312 on September 16, 2018, 06:27:46 PM

For now cryptocurrency really trend all over the world, but still Fiat is much more prevailing than crypto. Which means, Fiat will exist as long as the government declare it as a useful thing to all citizens in the entire world. Even, though some are saying that Bitcoin could possibly has a potentials to become a world currency, but still just speculation at the moment.

I look for the future in a few decades bitcoin might be equated with fiat money, the difference is that fiat money is physical while bitcoin has no physical. The function is the same, namely as a payment instrument. People are given a choice, can use bitcoin or with fiat money for payment. If that happens, I prefer to use bitcoin.

spongegar

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That is a very pessimistic view of the government albeit accurate to a point. I think it's more like the banks themselves are putting pressure on the government or the government themselves have a vested interest in keeping crypto currency as unstable as possible. Lastly, fiat will stay longer than we want it to be since it's not possible right now to have a sole crypto currency world.

Portia12

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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 technology is growing faster and that is the reason currencies are going from cash to digital since most of the people wants to have faster transactions rather than the casual transaction like using a physical cash.

Topic: Bitcoin and Fiat - this is how I see the future - page 5. (Read 3984 times)