Don't believe in digital money? Well... - page 4.

goldade

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Quote from: ConnerDalfino on May 31, 2021, 01:16:12 AM

-Digital books and kindles replaced library books

-Regular mail was replaced by email

-Previously, we took actual photos; now we take digital photos

-Digital music replaced cassettes and CDs.

-We switched to direct deposit from cash or checks.

How often do you actually have cash? It's rare that I do! The next item on this list is money.

Then... Buy Bitcoins.

I'm glad there is someone who saw the trend. Looking back some years, you'd realise the world started evolving digitally in everything. As it evolved, we embraced every form of evolution digitally until it got to money and there we have the problem of adoption.
Many people don't trust digital money largely because of the claim of the government. The government understands the freedom that comes with owning digital currencies and as such are doing everything not to make people adopt it.
If you'd ask me, I'd say eventually bitcoin and other cryptocurrencies will eventually adopted by everyone because that's just the where the world is going.

semobo

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Governments are not against the digital money or cashless economy but they never want to accept the decentralization and anonymity while making payments, but humans evolve too so their supression helped the bitcoin adoption when government banned payment processors and banks to send money to wikileaks as donation.

Ebede

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Quote from: ConnerDalfino on May 31, 2021, 01:16:12 AM

-Digital books and kindles replaced library books

-Regular mail was replaced by email

-Previously, we took actual photos; now we take digital photos

-Digital music replaced cassettes and CDs.

-We switched to direct deposit from cash or checks.

How often do you actually have cash? It's rare that I do! The next item on this list is money.

Then... Buy Bitcoins.

All the example you give, one replace the other one. But as for the money and digital money of a thing. I did not see where the digital replace the fiat. But, I can see that two of them can exist together because one need another one to grow or to continue to grow. So instead of seeing the case as replacement, just see them staying together and competing in the economy.

Obito

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Quote from: Nunoluck on June 02, 2021, 03:25:08 AM

That's make sense. Many things is starting to digitalized. It seems that fiat will be in form of digital too. I think Government will still make sure that it's country still has big amount of gold although there is digital currency. In my opinion bitcoin still the best digital money because it is in form of cryptocurrency. It also make big opportunity for bitcoin too, when the world is getting familiar with digital money and digital payment maybe bitcoin will be more easily accepted as medium of payment.

That's how it's going to be, we always choose whatever is convenient for us so we know where is the next evolution of money is and it is inevitable and the only way to benefit really big from it is if the people adopt really early because the later you ride the hype, the less benefits you could've enjoyed.

Kelvinid

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Quote from: Ucy on June 02, 2021, 05:26:27 AM

Well, I don't think it's a good idea to abandon the physical completely for virtual/digital. Don't forget the former tend to offer better privacy and has alot of other very important advantages people seem to ignore.
I would be making sure there are improved or there are much better physical alternatives just incase it becomes difficult/dangerous/impossible to use the digital.

I don't think it has to be happening. Because even we have to adopt the new payment system, many were still be using and accepting fiat money. As long as the government won't stop printing paper money, it will still exist no matter what.

It is to understand that many of the majority still not know how to use Bitcoin but probably in the days coming, they'll appreciate this and not only consider it as a pure investment but as a currency as well. This what I look at Bitcoin before but, for now, we're getting happy as it was already acceptable in our country as payment.

Ucy

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Well, I don't think it's a good idea to abandon the physical completely for virtual/digital. Don't forget the former tend to offer better privacy and has alot of other very important advantages people seem to ignore.
I would be making sure there are improved or there are much better physical alternatives just incase it becomes difficult/dangerous/impossible to use the digital.

ampu

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Cryptocurrencies are different from cryptocurrencies.
The one we see in bank accounts and controlled by the bank. One type is the currency used on blockchain technology.
I think cryptocurrencies (Bitcoin and other decentralized altcoins) are better than digital currencies because of their immutability, independence, publicity and security.

NeuroticFish

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Quote from: LeastComicStanding on June 02, 2021, 04:03:59 AM

Hope that clarifies my stance and intent. :-)

It does, but it somehow also brings more "questions" than "answers".

Quote from: LeastComicStanding on June 02, 2021, 04:03:59 AM

I am all for the separation of the federal reserve and the ability for citizens to obtain goods with currencies, I just don't think Bitcoin is the answer for any of that; it is a great poster child and has served to really bolster the adoption of cryptocurrencies, but like I said, there are many better options now.

And to infer that "digital money" was somehow created by or originated with Bitcoin is silly - it's the first cryptocurrency, but it's not the first, last, or best digital money.

Well, if any digital coin is pegged to a central bank coin, it brings inflation and usually you also have to trust the issuer too.
If you come with other crypto currencies as being better, for being faster, or with bigger block size, or whatever, there's already a debate about that in another thread. The short answer is imho: such coins never had the volume + price + security of Bitcoin to actually prove themselves, but again, I don't want to derail this thread to become a copy of that one.

That Bitcoin currently is not the best digital money that can exist, I do agree. But it has proven itself worthy and it still evolves. And what the future holds, I cannot tell, maybe bitcoin will evolve in into what all expect from it, or maybe better one will emerge, future generations will see.

clint25n

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Quote from: ConnerDalfino on May 31, 2021, 01:16:12 AM

-Digital books and kindles replaced library books

-Regular mail was replaced by email

-Previously, we took actual photos; now we take digital photos

-Digital music replaced cassettes and CDs.

-We switched to direct deposit from cash or checks.

How often do you actually have cash? It's rare that I do! The next item on this list is money.

Then... Buy Bitcoins.

in my country, there are still a lot of paper money and coins,, digital currency is still being planned, but bitcoin has mushroomed and developed in my country, many people have used it ... it's just that it has not been used for buying and selling transactions.

LeastComicStanding

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Quote from: NeuroticFish on June 02, 2021, 02:06:57 AM

Quote from: LeastComicStanding on June 02, 2021, 01:40:25 AM

Most money has been digital for decades. It's rare that I actually use paper money or any other physically tradable asset for goods.

Bitcoin is different, but it's not a great system for digital money. Digital USD is way better and there are other cryptocurrencies that also do it better, if you're just trying to get away from the current financial system.

You are new and you have still much to learn.

I'm a bit worried though that even people who made it to this forum do think like this and they don't understand that the way the central-bank based currencies are designed and used by the banks is against the benefit of common people. USD already has the inflation. A central-bank issued digital USD will (most probably) also have the options for surveillance (full tracking) and seizing (if they want to, they can get your money). They are not a way to go away from the current system, they are a way to keep you in even deeper.

I was not trying to make a case for central-bank based currencies as much as I was trying to debunk the OP's title and post.

I am all for the separation of the federal reserve and the ability for citizens to obtain goods with currencies, I just don't think Bitcoin is the answer for any of that; it is a great poster child and has served to really bolster the adoption of cryptocurrencies, but like I said, there are many better options now.

And to infer that "digital money" was somehow created by or originated with Bitcoin is silly - it's the first cryptocurrency, but it's not the first, last, or best digital money.

Hope that clarifies my stance and intent. :-)

Nunoluck

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That's make sense. Many things is starting to digitalized. It seems that fiat will be in form of digital too. I think Government will still make sure that it's country still has big amount of gold although there is digital currency. In my opinion bitcoin still the best digital money because it is in form of cryptocurrency. It also make big opportunity for bitcoin too, when the world is getting familiar with digital money and digital payment maybe bitcoin will be more easily accepted as medium of payment.

NeuroticFish

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Quote from: LeastComicStanding on June 02, 2021, 01:40:25 AM

Most money has been digital for decades. It's rare that I actually use paper money or any other physically tradable asset for goods.

Bitcoin is different, but it's not a great system for digital money. Digital USD is way better and there are other cryptocurrencies that also do it better, if you're just trying to get away from the current financial system.

You are new and you have still much to learn.

I'm a bit worried though that even people who made it to this forum do think like this and they don't understand that the way the central-bank based currencies are designed and used by the banks is against the benefit of common people. USD already has the inflation. A central-bank issued digital USD will (most probably) also have the options for surveillance (full tracking) and seizing (if they want to, they can get your money). They are not a way to go away from the current system, they are a way to keep you in even deeper.

LeastComicStanding

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Most money has been digital for decades. It's rare that I actually use paper money or any other physically tradable asset for goods.

Bitcoin is different, but it's not a great system for digital money. Digital USD is way better and there are other cryptocurrencies that also do it better, if you're just trying to get away from the current financial system.

maydna

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Quote from: MCobian on June 01, 2021, 06:40:19 PM

Quote from: ?? on ??

In our country, fiat currency is still more used than bitcoin as many people are still out of knowledge about cryptocurrency, but you are right some of the traditional ways of living are now replaced by electronics which makes our lives easier but with the money I dont think that it would happen easily, bitcoin is still new in terms of money and there are still a lot of things that we need to consider before it happens, maybe if all the countries are now accepting bitcoin then I think that would give bitcoin as the start currency.

It's too early to make Bitcoin a currency, because there are still many people who don't understand Bitcoin. After all not all countries accept Bitcoin,
Bitcoin still has a long way to go to be actually used by everyone around the world. This is the importance of a lot of education about Bitcoin, so that
many people realize that life will be easier if they use digital money like Bitcoin. But due to lack of government support, the process of introducing
Bitcoin to many people must go through a long process, because the government is actually afraid that Bitcoin can replace fiat currency.

To use bitcoin as a currency, it needs approval from the government, and I think the government will not easily approve it because they already have fiat, which they can control. Fiat now seems to evolve to digital money because we see that many applications use digital money and people need to deposit their money to that application to pay with that digital payment.

Bitcoin will have a bright future as bitcoin can help people have more options to pay their transactions, and that will not have any limits because bitcoin can cross the border between one country to the other countries. With the growth of technology, the digital era already comes to us, and if we can educate more people about bitcoin, they will try to use bitcoin as like they used the other digital money to pay for what they bought. We need to give more time for bitcoin to grow and invite more people to use and have bitcoin, and while we do not yet reach that phase, we can save our bitcoin in our wallet and wait for that time.

perfect999

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Quote from: ConnerDalfino on May 31, 2021, 01:16:12 AM

-Digital books and kindles replaced library books

-Regular mail was replaced by email

-Previously, we took actual photos; now we take digital photos

-Digital music replaced cassettes and CDs.

-We switched to direct deposit from cash or checks.

How often do you actually have cash? It's rare that I do! The next item on this list is money.

Then... Buy Bitcoins.

There are some things that can't be replaced easily. Yes there are digital books and Kindles, but there are still libraries being built in schools. They never told students to read digital books. But I do get what you're saying, yes there will be new ways that technology will bring about, but that doesn't mean that the old ways will be completely buried.

It's all about preference when it comes to money. I make use of electronic payment methods, and I also make use of cash. But the majority of the people where I live are making use of cash (paper money) and I'm mainly able to make use of electronic payment methods when buying online and when I go to big stores.

Cling18

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To be honest, there were times that I doubted Bitcoin as a future currency but as I see that even online stores these days accept it, I have seen its worth not just as an investment but also as a digital currency. Yes, it couldn't replace fiat but it would rule the digital world since it's more convenient and easy to use. It may take time but soon, people would appreciate the importance of Bitcoin not just because of its profit but because of its function.

MCobian

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Quote from: ?? on ??

In our country, fiat currency is still more used than bitcoin as many people are still out of knowledge about cryptocurrency, but you are right some of the traditional ways of living are now replaced by electronics which makes our lives easier but with the money I dont think that it would happen easily, bitcoin is still new in terms of money and there are still a lot of things that we need to consider before it happens, maybe if all the countries are now accepting bitcoin then I think that would give bitcoin as the start currency.

It's too early to make Bitcoin a currency, because there are still many people who don't understand Bitcoin. After all not all countries accept Bitcoin,
Bitcoin still has a long way to go to be actually used by everyone around the world. This is the importance of a lot of education about Bitcoin, so that
many people realize that life will be easier if they use digital money like Bitcoin. But due to lack of government support, the process of introducing
Bitcoin to many people must go through a long process, because the government is actually afraid that Bitcoin can replace fiat currency.

Kelvinid

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This is all about market innovation, technology enhancement and there are two reasons why all things had come out and hit us, it is because we want to have a comfortable lifestyle and become more productive. I think everyone wants this thing to happen. But the used pf digital money just consider this as an option, we can still use fiat money and I'm still using it ( everyone does). However, we have to visualize what will be its huge impact on our life today compared before and we can see a huge difference. That is to believe that this gonna be more adaptable for the next generation.

Yatsan

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The observance on how certain things have improved provided by the OP is due to the improvement being done on certain place. Now in terms of currency upon having fiat money going to digital money is already observable on many places but those were just fiat in the mode of digital money being deposited through online banking system. But cryptocurrency to be one of the commonly used digital money still depends into the place since not all have the availability of resources to adapt into the improvement. Many people also do still prefer fiat money since they believe it is way more easy to use since it is the accustomed one. But it my case, I prefer still using both depending on the situation of course.

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Quote from: ConnerDalfino on May 31, 2021, 01:16:12 AM

-Digital books and kindles replaced library books

-Regular mail was replaced by email

-Previously, we took actual photos; now we take digital photos

-Digital music replaced cassettes and CDs.

-We switched to direct deposit from cash or checks.

How often do you actually have cash? It's rare that I do! The next item on this list is money.

Then... Buy Bitcoins.

I agree that we are developing and becoming more focus on technology and finding easy way to deal with what we want just like on your examples.
But you forgot that it isn't just crypto that is considered as digital money we also have other E-Wallet for making online payment and government isn't really going to let Bitcoin be the main online payment or over took the Fiat currency.
I also want to support Bitcoin but it is becoming more like an investment tool rather than payment option.

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