Topic: Bitcoin and the Future of Money (Read 395 times)

Bitcoin is the master future if all digital currency and it is good to understand that is all about and even if you don’t have it now? Alway make plans to buy and store for the future

You are mixing up the three uses of a currency:

1. As an investment instrument.

2. As a means of performing a transaction.

3. As a means of measurement.

Those things are independent of each other. US dollars are used as all three right now, but I suspect #'s 1 & 3 will decline over time. I don't see the world getting rid of usage #3 though. The most important thing about Bitcoin today is it's value in US dollars. That's way everybody thinks of it. If I asked somebody how much something costs, and they replied "42.5 quatloos", virtually everybody would immediately translate that to US dollars in order to understand how much value that was. They can figure out how much of their savings this item would require, or how much work they would need to perform in order to earn it. The world needs this regardless of what happens to the US dollar itself in the other categories.



The US doesn't have a CBDC, and I suspect that project will never get off the ground. Non-government digital currencies will probably make CBDCs a moot point, I suspect.

As for the difference between a digital currency and PayPal/credit cards/banks:

1. A digital currency can provide anonymous transfer, e.g. like physical cash (there are technical problems with things like Bitcoin for this because of chain analysis, but other digital currencies solve this problem in other ways, starting with simply legally promising to not divulge your privacy for any reason barring a government subpoena, e.g. like VPN providers work).

2. A good digital currency (I'm really trying to do this without self-referencing here ) will have an extremely low transaction fee. Say, $0.005 for instance.

3. A good digital currency will be extremely fast, on the order of 10ms per transaction, which is ~500x faster than today's credit cards and PayPal et. al.

4. A good digital currency will be suitable for high-scale realms like games, wherein they could use "real" external currency instead of internal currency because the transactions would be fast enough to keep up.

So yeah, I think "good digital currencies" are the wave of the future and will replace most of today's physical cash transactions and many of today's credit card transactions as well.

Explain "measurement device".  Anything can function as a "measurement device", USD, EUR, BTC, LTC, GOLD, etc.  The distinctive aspect of USD is its current status as the global reserve currency.  If by "measurement device" you mean this, I highly question it. USD, like any fiat currency, operates essentially in an experimental realm.  But sure, it will probably always be possible to exchange goods and services for USD, just as with bitcoin. 


Digital currencies, like?  CBDC-USD?  How is that different from banks and Paypal for low value transactions? 

At a time like this when regulators are hitting hard on privacy of money and how money moves in the hands of the citizens, bitcoin future can be said t be a little unclear and seems that the time we enjoyed true freedom have past and for sure it may takes alot of struggle and hustle to have freedom in the future and if that be the requirements for the freedom of money that comes along with bitcoin it then means there is no freedom at all if the government is allowed to sweep privacy under their foot.


But the bitcoin original design is to support the financial inclusion of everyone who adopt it and also serving as an alternative to the highly centralised financial system around the world.

Bitcoin is already disrupting the banking industry and the same goes to the financial technology. The impact that it provides to the global economy is actually a lot.

You can have the conception that it does for those investors that are providing millions of investment on it. They're impacting the market cap of it and also the individuals that are part of it.

So, if it's about the global economy impact that it does, it's certain that it sure gives a lot of benefits to every aspect of life that's holding it.

Comparing the fiat and Bitcoin is easy to determine that where we can earn a lot of profits.  Holding a Bitcoin have the chance that we will got rich in the future as we all know that there's a chance that the current price will got doubled or trippled and that is what happen if the price increase then our investment or hodl amount will increase too. While investing on fiat only few of it will got a high income. But some of it are it's just a normal thing that can make a profits  too slow. So Bitcoins is one of the best investment coins.

BTC has played a good role in the life of users in different countries, which is the reason many people prefer to hodl BTC than fiat money because they know that no matter how long you hodl your fiat money in your bank account, it will not give you what BTC will give to you in a long period of time.

Government is the control of Centralized currency, which they can print more money to be in circulation for the citizens to use to provide food and other things to their families, and BTC is not control by the government because it was created for government to use to eliminate delay in transaction and unemployment in their various countries.

BTC can pump higher during the bull season for hodlers to earn well from the market, but fiat money don't use to pump for fiat hodlers to earn a big profit from their hodling because is a centralized currency.

The bitcoin was the best one for the long term investment,many traders get fear after the price of the bitcoin reduces to 60k dollars.But now check the price of the bitcoin it already near to 61.9k and on the way to the 62k dollars.The bitcoin was the decentralised one as like the other cryptocurrency it’s doesn’t have any company behind it to manipulate and make the trader at risk.The price variation of the bitcoin was purely based on the market demand of the bitcoin.

The price of the bitcoin was based on the legalisation of the cryptocurrency by the particular country.By legalisation two things will happen,one is the trader never need to worry of the loss of the money if they made their investment in the good coin.Secondly the taxes from the cryptocurrency leads to the usage of their government for their people by introducing some good schemes.This legislation plays huge role in the variation of the price of the bitcoin.

When you read older threads, you will have clearer understanding how the future works and what our duty is presently. The early bitcoin adopters had believed that by now bitcoin believers should be using bitcoin to buys things from the grocery shops. This is because of the promise of;

• Fast transaction
• Low transaction

But now, we are faced by reality that altcoins are doing the above two more than bitcoin.
I therefore, speculate the future of bitcoin only as A store of value , i.e the digital gold as it is being referred to, more than as a currency.

Thank you. (I would send you a +merit but I am presently out).

I am amazed how many people simply don't understand the difference between transacting and investing.

In summary, US Dollars have three potential roles:

1. As an investment instrument (usually not a good one for the long term).

2. As a means of performing a transaction.

3. As a means of measurement.

My experience is that people can't wrap their heads around that last concept: that the US Dollar is a measurement, like meters are for distance or kilos are for weight. Measurement systems like the metric system and the imperial system are used because people know them, and since that phenomenon feeds on itself, one can understand why they will never go away (and this explains, for instance, why the US is still stuck on the imperial system even after 60 years of trying to get out of it).

But you can use USD as a measurement even if you don't use it in the other two ways (again, look at what we are doing with the UE for Haypenny). This is why I think that, even while the first two uses (investment and transactions) may fizzle out for US Dollars, the third usage will stay around forever because we will always need a way of measuring a transaction that everybody agrees upon.

Bitcoin is an alternative to fiat and to traditional financial assets. But it's not a mutually exclusive alternative. People can use Bitcoin alongside fiat, and they can invest into Bitcoin while investing into other assets. That is why, while I believe that Bitcoin will continue growing and might at some point reach, like, a billion users, it won't disrupt the existing global economic structures, unless something unprecedented happens. It can coexist with traditional financial institutions and currencies, and I think that's how things will move forward.

But the impact is likely to be very different from the expectations of bitcoiners. In fact, these changes are already being felt - it’s not for nothing that governments are developing CBDC's inspired by blockchain.

You wanted to say about investments, didn't you? Because this is how most people perceive bitcoin, and not as money.

It's all because of their ignorance. Money (especially paper money) was never intended to store value.

People's interest in bitcoin has encouraged them to study financial issues in general.

In my own term on how I would speculate on the long term impact of Bitcoin is Bitcoin is the currency of the future.Bitcoin is a deflationary currency that has created for financial freedom globally.Bitcoin was created to purchase goods online without the involvement of a middleman but due to it's volatility in nature,enthusiasts have adopted the investment scheme for long term that profits huge amount return.Bitcoin is a digital currency not only a digital currency but it has it's unique monetary policy[Decentralization].

and this is what exactly what we are doing in bitcoin now , using this as like physical investment like Bitcoin because the main objective of users now wanted to keep holding instead of using as payment and that for me is something we must be warned , because if we all continue doing such then we will not hitting what Satoshi wanted to happen.

How will Bitcoin compete with dollars and euros? Do you think the US government accepts bitcoin ETFs so that bitcoin can compete with the dollar? I don't think they are that stupid.
By the way, they accept bitcoin ETF, which means they treat it as an asset, an investment, not allowing bitcoin to become a currency.


Banks provide dozens of services to users and play an important role in our economy, banks are not only used to deposit money or transfer money across borders. Banks aren't limited to those little things, so bitcoin can't easily challenge banks' dominance either. Don't be too naive to think that bitcoin is so big that it can challenge the world.


Until now, bitcoin was just an asset, an investment. It has not made any significant impact on the economy or financial system of any country, let alone the world.

The impact of Bitcoin on the future global monetary system and economy is inevitable. Since Bitcoin was born until now, it has gradually changed many people's thinking about money. Previously, many people still thought that cash could store value and could not collapse, but with the emergence of Bitcoin, people have come to understand how cash is created and how are their labor exploited through cash?

When the Bitcoin ETF was approved, it opened a new page for Bitcoin, officially making it a part of the mainstream financial system, which could create competition for other currencies such as the US dollar or euros. This could lead to the weakening of some traditional currencies and push them to look for ways to improve and modernize.

Traditional banking will also be challenged with the emergence of Bitcoin as cross-border money transfers are almost faster, easier and eliminate many complicated intermediaries when using Bitcoin. This means banks may have to adapt by offering new services or finding ways to integrate blockchain technology into their operations.

On a more macro level, Bitcoin can affect the monetary policy of a certain country. If Bitcoin becomes more popular and affects the global financial system, authorities such as Central Banks may need to reconsider their approach to currency management.

The reason why many people are speculating bitcoin on how it will be big in the future is because in this early stage of bitcoin it has done very well, getting more awareness,  of good benefit to people and a ledger tender in some countries. From what people can see in this early stage of bitcoin,  it is belive bitcoin will be bigger than other asset that have been existing before bitcoin was created. How far bitcoin have gone is an assurance that it will be of greater in the future.
For bitcoin to be legalized is very important because this will give people access to accept it freely and it will also give bitcoin more awareness. For the short time bitcoin have being we can all see that it is good having it as an asset and I know adoption won't be a problem for bitcoin, it may not come very fast as we want but it will be adopted by most countries.

Due to high transaction fee, and higher percentage rate of appreciation overtime. I think Bitcoin would be use as wealth preservation like gold and other assets instead and not as fiat like dollars. And in fact, many investment companies are now considering Bitcoin as one of their instrument to keep their investments. Yes it can be use for transactions as it's have a true value, but for me I don't see it to be used as major currency but as in a form of investment.

One could easily write an entire book on each of topic that you mentioned here. These are very broad topics. We can break them down further.

Anyway, I am generally looking forward to the day when money would be separated from the state. Bitcoin might become the strongest case for it. Such isn't anymore a mere theory because Bitcoin exists. It's a hard proof that it can be turned into a reality.

Another point is that money in the future could be designed in such a way that it is neutral and can't be influenced by external factors. Such is the design of Bitcoin.

Banking would adapt. The process is gradual. It has already started.

As to the global economy, it has yet to adjust to the kind of money that Bitcoin is. The world remains a fiat world.

Interesting suggestion about LP on an EVM compatible network for bonuses. As for the BTC chart, a hanging candle mid-air sounds like an intriguing moment. Are you expecting a bullish breakout?