Topic: Bitcoin will survive in "cashless society" ?? - page 14. (Read 3019 times)

First of all, I wouldn't say that they are cashless societies, as cash has still huge usage in the european union. and specifically in the UK, cashless societies are far away from being exist, as there are too much cash in circulation.
Secondary, bitcoin is here not to replace cash, but to replace fiat currencies, it offers the ability to transfer decentralized tokens over the internet, without the need to rely on a centralized body.
Credit card companies usually charge a larger fee and also you still use fiat money, so you are not being defended from hyper-inflation and other financial risks that involved in holding fiat money.

I think people still need cash, as you are talking about right now almost all community groups use credit cards to make payments. But as a cash changer remains the main one.
If the question is whether bitcoin will survive without cash then the answer is no. Bitcoin is more worthy of savings or investments and for the needs of daily living, of course people will still use cash as a means of payment especially for areas that have not been touched by development (developing countries).

In 2012, there were lots of talks about "Buy 1 ounce silver. End the Fed". Then Silver price crashed from $50/ounce to $9/ounce.

I really don't know where did you get your basis when you say that bitcoin is failing in all its uses/talks since its still on the top and lots of people are still using it.
I respect your opinion regarding that matter. We do have different thoughts and experiences about bitcoin as an investment vehicle or as a cryptocurrency. Even if bitcoin wasn't really used as a currency for some people there are also some business sectors or individuals that are using bitcoins in their online transactions (paying their bills, tuition fees, life insurances) and basic needs. So you can't really say that bitcoin failed in its usage. Bitcoin has its own flaws, it's not perfect that's why lots of new crypto currency nowadays are trying to prove its worth to be the next or even trying to replace bitcoin.

People will always choose which is more convenient, has lesser fees and more secure when transacting online so they can't do anything about it if bitcoin will replace their 50 years of hard work.

Change is the only constant in this world. We are all moving forward to the digital world so there's a very big possibility that credit cards will be replaced with bitcoin or other crypto currency few years from now.

I'm not really certain or sure that it will happen in the future but there's a very big possibility that it will. We just don't know when.
I do believe in bitcoin's technology and I respect the efforts of the people trying to support bitcoin up until now.

Let's just wait and see what bitcoin can offer in the near future.

Do you think people will allow 50 years of hard work to be taken over by Bitcoin when Bitcoin is failing in all its uses/talks ??

China is always at the forefront in terms of electronic currencies as well as digital. But basically it still uses fiat currency previously we keep it first in our bank account and this is very different from bitcoin. Bitcoin has its own characteristics very unique and multi-function 'can be used in any way' including currency like in japan and dutch countries whose use have been considered legal.

The prelude of "Cashless Society" begun 50 years ago for convenience.
http://heinonline.org/HOL/LandingPage?handle=hein.journals/bclr8&div=34&id=&page=
 
Bitcoin was created for the same purpose just like credit cards  in preparation for the "cashless society". People will definitely prefer paying online with the use of bitcoin because of its anonymity and lesser fees compared to other digital mode of payments.

Even if bitcoin is used as a store of value nowadays, the mere fact that its a digital currency with lesser fees and faster transactions it can surely survive in a cashless society. Few years from now bitcoin as a currency will be fully implemented if people worldwide specially the business sector and the government will embrace this very awesome innovation for people's convenience.

P.S.

It's hard to fully implement a cashless society because there are small businesses that won't accept digital payments so cash/physical money will still be around.
 

Personally, I think the biggest value of Bitcoin would become more and more like the value storage and value transfer all around the would freely and instantly.

The so called "cashless society" is just the digital Fiat flowing . So bitcoin would live on.

In China people pay more using alipay and WeChat!

Only big transactions use credit CARDS!

That's because digital money is illegal in China!

If the digital currency is legal in China, I think he will be more popular than any kind of payment!

Bitcoin will definitely, without a doubt survive in a cashless society. Bitcoin is really dependent on the internet, so there is no reason for it not to survive in a cashless society. In addition, bitcoin is quite unique in a way that it's value grows despite the economy of a country is down. It is more reliant on the world's economy rather than just some countries.

It depends on how a society being cashless, as what I have seen of some ideas that shared and posted, they are focusing societies without using money instead they used credit cards. In that particular answers, that kind of societies are highly economically developed, and of course bitcoin there will survive. But, when we talk about cashless society without circulation of money or without money being use to buy for something for their daily needs and their economic source of income is only agricutural products which they are using a term of barter or changing of goods, in that particular societies, bitcoin cannot survive. And as of this moment, many societies are belong to the level of a very extreme poor community or society, and without any internet connection and mostly no supply of current that produce lights at night or current energy supply, they are only using lamp at night as their source of lights. So, therfore that kind of society is no longer knowledge about bitcoin, and bitcoin there cannot survive.

Let's go back to pre-Bitcoin times and see. The only cashless payment options were credit/debit cards which have their own risks when it comes down to online thefts and fraudulent carding activities. Bitcoin and cryptocurrencies in general, has been a solution for this long sought out problem. By making payments backed on the blockchain, almost all sorts of mishandles are avoided, making everything smooth and secure.

So yeah, Bitcoin is definitely going to be surviving the cashless society while continuing to soar in price over the years.

in some developed countries bitcoin is a legitimate means of payment, and they do not have to use cash but digital money or credit cards, it is safer and more practical for payment, and the future community will be a payment system using non-cash money, and bitcoin will be a legitimate means of payment for the global community.

Bitcoin went through hardest times and here it is.

The decentralized nature it has along with the ability to make your own mining is something that regular currency will never match. Can you imagine people printing their own money? As much as they want under certain laws and regulations?, that won't happen. Printing/mining regular currency you would only launch the inflationary rate and hurt the entire economy, it is impossible for it to happen.

The advantages of Bitcoin are many and no regular currency will be able to surpass it. Besides it's profitability is something no currency no matter it's nomination or nature can even come close.

Bitcoin is belong to digital transactions therefore it is absolutely yes it will survive because credit and debit cards are booth using the digital transactions in which a process that will need the power of internet and the computer which is the same way that Bitcoin transactions is using too.The only problem with this process is if these nations will not accept Bitcoin as a legal tender or as a currency to make it to become useless in the society but fortunately most of the nations are supporting Bitcoin transactions so we expect more developments of this progress.

I dont see any reason why bitcoin would no longer survive in a cashless society since people are already working on making bitcoin a payment method that you can use as easy as a credit card to pay everywhere and anytime.

Bitcoin was created especially to be used a currency but in that way that you no longer interact with a bank, through you credit/debit card so I think it is going to survive for many years. It will take some time until people are going to use bitcoin to pay for their shops because there arent many companies that accept bitcoin right now. I am sure in the future this problem will be solved and people will be able to use bitcoin instead of credit cards or cash.

Yes it will. It has been years that countries are mostly using electronic money/debit card/ credit card.

The reason Bitcoin will survive is because of it's characteristic that make it attractive to people, decentralization and privacy.

Even if we are living in absolute zero paper money and everything is digital it is still controlled by a few people.

Also we all know the hassle in creating a bank account or even sending money using paypal or western union, specially if you are sending a large amount.


The real question should be if we are in a cashless society do we still need FIAT.

Perhaps in some areas may use a currency without physical money, but it will never happen in the entire hemisphere, all have its own obstacles, especially internet network services for the interior, it is difficult for the application of digital currency.

In cashless society bitcoin will use more because it is the famous currency that use as a payment online. It is also has lot of wallet to use to store our assets. But for me they only use bitcoin in 50% only because we have our traditional currency that use everyday.

Yes it will just like how other countries use btc as term of payment. Cash is just something that government give value, and if more and more people trust btc, it could bring us to cashless society soon. It's just that today, only few believes in the power of btc and so does it's still not applicable to be used as payment and can't replace cash or physical money that we are using everyday.