Bitcoin conceptualization in the context of globalization - page 2.

Haunebu

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Quote from: mrdeposit on February 18, 2019, 01:29:00 AM

Paper money cannot play a role in this development but crypto looks more appropriate.

Are you trying to state that FIAT needs to be eradicated completely in order to pave the way for Bitcoin and other cryptocurrencies? Keep dreaming buddy. FIAT is not going anywhere and you know it.

Cryptocurrencies are slowly finding a way to coexist alongside FIAT currencies through regulations imposed by governments etc and will serve as alternate payment methods.

mrdeposit

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In the developing world everything should be appropriate for this development. Paper money cannot play a role in this development but crypto looks more appropriate. Is this Bitcoin, or not, we will see it as time passes.

Kakmakr

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".....non-integrated population in the financial system will gain a particular desire to be part of the new system ." The question is, why would these people be drawn to a new system?

The new system should offer them more innovation and more effectiveness and more freedom. In countries like China, we find that the technology are not driving the change, but rather political force and influence. Angry

We should offer people like this a alternative choice, from the restrictions that are forced onto them, by their own government. Angry

traderethereum

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I think bitcoin will play a new role model in the financial section. Bitcoin will makes the process of the transaction become easier without using any third party to validate or authenticate or supervise the process itself because when the transaction is made, the process run automatically. We don't have to think about when the process will finish, we cannot send or make any transaction in the holiday season because the banks was close and many other.

We have a bright future in the technology and I am sure that not just financial section that will use the technology itself but the other section will used too. And therefore, bitcoin with blockchain technology will gives the advantages to many people in the future.

Bitcoindigger02

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Bitcoin mining solves the problem of block chain maintenance through human nature, which also explains why the Bitcoin system has been running steadily for eight years, and makes Bitcoin the most vigorous one in so many applications of block chain technology. "Zhongbencong" for the use of human nature, so that people in the mining for profit, to maintain the operation of the system. But the emergence of miners makes the de-centralization of Bitcoin imperfect, so the innovation and improvement of Bitcoin has never stopped.

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Quote from: hugeblack on February 17, 2019, 07:47:43 AM

It would be true if the reason for using this technology is to create a new type of financial system without having to restrict previous central systems.

What is happening now is the shift from a new system of transactions to new speculative systems, all trying to create more currencies for unknown reasons.

Well, in any new system devised, there'd always be crooks who will try to copy the said system and make some money off of it. The reasons aren't unknown IMO, only deviates a little from the original thought (which is making money out of nothing) while sounding as if these new systems have all the answers to the world's problem. They are all the same tbh, and no, it doesn't include bitcoin (and that's not bring bias).

Quote from: hugeblack on February 17, 2019, 07:47:43 AM

Also, trying to create an infinite number of shitcoins reduces the likelihood of decentralization.

True, especially if the main goal is money. As I've said, they are all but deviations from the original system, having the same goal for profit.

pooya87

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Quote from: hugeblack on February 17, 2019, 07:47:43 AM

Also, trying to create an infinite number of shitcoins reduces the likelihood of decentralization.

i disagree.
it is inevitable in any system to not have any copycats trying to do the same with a much poorer quality to try and make money. but their existence is not going to affect the main system they are mimicking. if anything their constant failure proves the strength of the original system and helps with its growth as people see the strength of it and focus their attention to that instead of wasting time on the worthless copycats.

Dumont31

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Quote from: kryptqnick on February 17, 2019, 09:25:59 AM

Quote from: Dumont31 on February 13, 2019, 10:31:39 AM

What role do you think Bitcoin plays in the context of globalization? Bitcoin conceptualization in the context of globalization

Examples of localization in the crypto world are probably centralized coins that belong to banks, companies and nations. The way of dealing with it and making Bitcoin win is what's called glocalization: adapting global stuff to local cultures. This could be done by making region-specific reasons for people to adopt this coin and by making local merchants accept it as payment.

I didn't think in this specific way. The concept is interesting. On a wider scale, the essence of our currency is lost, but local it wins. At the local level the trust is gained, because it respect the custom of the region that adopted it. Running the same conceptual idea of glocalization, I think that the key of adoption at a larger scale it's by uniting more people in one entity directed by the same concept.

Quote from: hugeblack on February 17, 2019, 07:47:43 AM

Also, trying to create an infinite number of shitcoins reduces the likelihood of decentralization.

It is true, the level of confidence and specificity decreases.

Kopyleft

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Is the non integrated community ready to be fully responsible for their assets; loss, security etcetera? And also it's volatility, which would also be a part of bitcoins value for a long time to come.

Bitcoin is of course an alternative to fiat and the power tussles that goes on with it, admittedly there is also power tussles in the bitcoin ranks. This also raises concern if bitcoin could slip into the ditch that is our financial system, or is it too decentralized?

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Quote from: Dumont31 on February 13, 2019, 10:31:39 AM

As you can see the changes that we live in are profound, especially in this dynamic era. The technology plays an essential role not only from the perspective of creating new infrastructures, but also from the perspective of its conceptualization. I strongly believe that in the coming years, a large amount of the non-integrated population in the financial system will gain a particular desire to be part of the new system - without linking to central authorities. Economies are becoming increasingly interlinked. At the moment, our money in the wallet is worthwhile because there is someone who guarantees for it. What if we still have money that are still recognized without the need for someone as central power to authenticate and supervise them? This is my way of conceptualisation these changes.
What role do you think Bitcoin plays in the context of globalization? Bitcoin conceptualization in the context of globalization

[/quote Exchange means gravitate towards low-friction channels. Ceteris paribus, users will adopt the payment system that offers the path of least resistance. At this point Bitcoin comes to the mind. Bitcoin’s market cap is superior to that of other cryptocurrencies. Bitcoin’s liquidity also implies a strong network, as large liquidity implies large transaction volumes, which implies a robust mining environment. on the other hand, while Bitcoin will grow and lead as a global unit of account, individuals may still prefer to exchange with coins that are less liquid since the cost of retaining a less liquid currency shrinks if one can exchange it into Bitcoin at very little discount. By implication, altcoins will act as highly liquid media of exchange for particular regions, companies, Internet groups, religious communities, and other voluntary collectives whereas Bitcoin will play the major role of economic globalisation

Cashi

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Quote from: kingpin4321 on February 17, 2019, 09:32:43 AM

Bitcoin might play a huge role in globalization.
But I think some countries central bank would want to pose as a hindrance to bitcoin and cryptocurrency.

Of course, that is very likely. Bitcoin will reduce the power of authoritarian states and as solution they will possibly launch own national cryptocurrencies, issued by the government. But compared to Bitcoin all those government-cryptos have nothing in common with Bitcoin because they are centralized and controlled by the government - exactly the opposite Bitcoin wants to be.

Quote from: kingpin4321 on February 17, 2019, 09:32:43 AM

But in term of a currency being acceptable by different countries I think bitcoin is in line to be that currency

Yes, that's a big advantage for Bitcoin in my opinion. Nobody will use the national crypto of Venezuela very much outside of Venezuela. But Bitcoin is used and accepted everywhere, not related to any national country.

PlusOne88

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We know how bitcoin have helped people a lot anywhere in the world as long as there is any available exchange for it. It has certainly changed the way people look at the trading and business. An online trading for products or any business in general have become easy with the bitcoin as global payment system. Bitcoin is a really a global starter for technologies such as these to used in the future and these concept is creating links between people from different races and walks of life and an important aspect of connecting between different economies.

kingpin4321

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Bitcoin might play a huge role in globalization.
But I think some countries central bank would want to pose as a hindrance to bitcoin and cryptocurrency.

But in term of a currency being acceptable by different countries I think bitcoin is in line to be that currency

kryptqnick

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Quote from: Dumont31 on February 13, 2019, 10:31:39 AM

What role do you think Bitcoin plays in the context of globalization? Bitcoin conceptualization in the context of globalization

Globalization means that people are more connected with each other and global trends prevail over the local ones. A good and often used example on this tendency is that we know way more about people we've never met but admire for their work than about our neighbors. Bitcoin is accessible regardless to physical location which already makes it useful for globalization. Another good point is that there's no central authority that controls it. Bitcoin can indeed be a great contributor to financial globalization. However, it should be noted that when globalization becomes stronger, it also triggers somewhat opposite trend of localization. That is, people notice how globalization erases many differences, and it leads them to valuing our own cultures and ways of life more. Examples of localization in the crypto world are probably centralized coins that belong to banks, companies and nations. The way of dealing with it and making Bitcoin win is what's called glocalization: adapting global stuff to local cultures. This could be done by making region-specific reasons for people to adopt this coin and by making local merchants accept it as payment.

hugeblack

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It would be true if the reason for using this technology is to create a new type of financial system without having to restrict previous central systems.

What is happening now is the shift from a new system of transactions to new speculative systems, all trying to create more currencies for unknown reasons.

Also, trying to create an infinite number of shitcoins reduces the likelihood of decentralization.

Dumont31

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As you can see the changes that we live in are profound, especially in this dynamic era. The technology plays an essential role not only from the perspective of creating new infrastructures, but also from the perspective of its conceptualization. I strongly believe that in the coming years, a large amount of the non-integrated population in the financial system will gain a particular desire to be part of the new system - without linking to central authorities. Economies are becoming increasingly interlinked. At the moment, our money in the wallet is worthwhile because there is someone who guarantees for it. What if we still have money that are still recognized without the need for someone as central power to authenticate and supervise them? This is my way of conceptualisation these changes.
What role do you think Bitcoin plays in the context of globalization? Bitcoin conceptualization in the context of globalization

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