Topic: Cryptocurrencies are babies (Read 178 times)

Yes, bitcoin is not yet that matured but hey we are still on the development progress state where people are venturing on things by experiement. Soon enough bitcoin will be very huge as it may become part of our daily lives.

Where it's more directed and how the developments.. let the time answering it. it's good that we as a bitcoiners, keep the good name of bitcoin/crypto reputation to be better on more positive things and keep taking advantages of the situations as best we can.
Let a lot of people to predicts, we just do the best on the our efforts as possible from the developments of crypto.

I think we are on the same page and I do believe that we are in the early phase of the development phase and we have to work on many fronts at a time including technological issues, legal status, market environment etc. However, I am optimistic about post 5 to 10 years picture and I do see a great role of cryptocurrencies in the fund transfer industry.

but if there are laws like minimum wage where people need to be paid a min of Xfiat
but if there are laws like income tax where people need to pay a min of Xfiat
but if there are laws like court fines where people need to pay Xfiat

then fiat will remain in circulation as the dominant currency and will continue to be legal tender

what you have to learn is although in america the dollar will be the legal tender. it does not mean that to americans the euro is non-existent/not allowed to be exchanged/traded

what you have to learn is although in europe the euro will be the legal tender. it does not mean that to europians the dollar is non-existant/not allowed to be exchanged/traded

and so once you grasp that mindset you will understand that bitcoin and non-government created crypto will have a place in the world as a asset currency that sits beside but not replace legal tender.

last thing to really emphasise..
do not think that encouraging governments to tax bitcoin suddenly makes bitcoin legal tender.. it DOES NOT. i emphasis it does NOT
a government having something like bitpay/coinbase as a merchant gateway for the IRS is nothing more then a gimmick. much like saying that people in america can pay for american taxes with euro's by the IRS having a bureaux-de-change kiosk at the tax office to swap euro to dollar..
in short your not actually paying taxes in euro.. or in bitcoin. you are just selling your euro/bitcoin for dollar and handing the tax office dollar..

all that you are doing is encouraging governments to take 20%+ of everyones income every time bitcoin moves from person to person.. you are not winning any legal milestone. you are just costing yourself profit, while thinking the gimmick is helping bitcoin.
in reality and longevity it is actually killing bitcoins ethos of not being 'just like fiat' .. thus making people start to think that there is no point in using bitcoin if it becomes nothing better than fiat

Completely agreed. Let's not forget the fact that even before traditional currency system (coins and notes) existed, the world used Barter system for centuries.
It is almost impossible to accurately predict the future of cryptocurrencies especially because it is just a decade old and there are various factors dictating the price and pace of trade. Probably going to take a few more years before all nations come to a mutual agreement that cryptocurrencies are useful to the world.

I think bitcoin aged quite well in this nearly 9-10 years. It is hard for me to call it baby anymore. But blockchain technology developments are babies right now. Silicon valley will take care and develop.

come on, 10 years is not long for buid solid community, and crytpo world need more time to take the place, to contribute in global.

Yes the price movement is already recognizable by traders and financial institutions and this why they are calling bitcoin a bubble.The price rise is really fast since it's inception.  I am not saying that they are correct because I am a crypto user as well but ten years of price movement is actually nothing compared to other currencies in the world market. For me the price should not be the basis of superiority but it should be the number of users in the world. If Bitcoin reach $100,000 but only 1% of the population uses it then establishments and entrepreneurs will still be thinking twice if they are going to accept Bitcoin. 

The age of ten years cannot be considered young for a currency because of the ten years we already know the price movement per year so it is not impossible characteristics of price movement bitcoin already recognizable by the traders with reference to the movement a few years ago. Maybe when compared with other currencies it is true bitcoin is still the youngest currency but in terms of price movements, bitcoin far superior to any other currency that already existed before bitcoin appeared.

Cryptocurrencies are small children in the forest with wild animals. A terrible but interesting tale. I hope its end will be good. As in any fairy tale. Children will become kings.

I agree with you that cryptocurrencies are not that matured yet. So it will grow stronger more in the future however there's still the government that will hinder the growth of cryptos so as much as possible we continue to support cryptos.

Our current Crypto currencies cannot replace fiat. They are mortal enemies.  Government might create their own crypto like what Russia and China are doing.  But never to use the existing decentralized ones.

It is true that the bitcoin currency is still very new in flat currency, and everyone hopes bitcoin has a steadily rising price, but I'm sure the bitcoin age can get old, because of the development of the digital age.

If a majority of people believe in the value of crypto, there will be nothing world governments can do to stop them.

Money is whatever people agree money is.

Do you really believe that world governments will allow cryptocurrencies to be replaced or at least to become one with fiat money?It's impossible

10 years for a new type of currency is nothing, it is the youngest age. Cryptocurrencies are babies and their fate can not be predicted,especially their course in the future. A huge number of factors affect them, the degree of influence of each of them can not be predicted, especially their impact in the aggregate. And you're trying to predict the course with high accuracy. This madness! This is a coffee-thick fortune-telling!You'll never guess! Try to refute me!