How a cashless society could kill Bitcoin. - page 5.

virasog

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Quote from: coynedterm on January 01, 2017, 07:39:59 AM

It is not easy to make your community or society cashless because people are addicted to make cash pay , which is traditional .
But instead of incoureging few people to adopt digital payment , we should make some campaigns , So that we can explain about this to all person together .
In this way they can easily adopt online payment system , even they can enter in bitcoin Job also .

Sure, it is not easy to make people to go cashless. It will take time and efforts from the side of the Government. But once people see the benefits and uses cashless means for payments, Bitcoin will start to gain massive attraction.

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Quote from: Xester on December 31, 2016, 07:28:37 AM

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Quote from: Gotottack on December 31, 2016, 06:40:33 AM

Quote from: stomachgrowls on December 31, 2016, 06:01:49 AM

Quote from: passwordnow on December 31, 2016, 05:48:34 AM

Quote from: burner2014 on December 30, 2016, 10:16:22 AM

Quote from: X-ray on December 30, 2016, 06:35:21 AM

Quote from: lionheart78 on December 30, 2016, 06:24:05 AM

Quote from: passwordnow on December 30, 2016, 05:46:46 AM

Quote from: Fluffy_Turtle on December 13, 2016, 02:45:51 AM

If the government came out today and declared that Bitcoin cannot be accepted as legal tender for purchases, I believe Bitcoin would find a way. It would find a way only because of the anonymity that today's cash affords people. Cash is the lovely bridge that people use in turning their Bitcoins into value.

Even though there are news that are coming out since the past years that cashless society will be implemented soon with the use of microchips. I bet it that the government will ban bitcoin. There are a lot of financial experts that will volunteer to have sometime to give detailed explanation to the countries that are going to do it so. And instead, they don't have to make their own digitized currency they can simply adopt bitcoin so I believe that bitcoin will not be killed easily because of it.

I think government would rather create their own digital currency than adopting bitcoin. Government are not dumb to handover its Country's economy to Bitcoin whales. It is the same as giving your country;s fate in foreigners hand. This is one big problem why bitcoin is struggling to be adopted by any government. Aside from that, government would favor cashless society because of the control the government always wanted. And mostly the one stated by Chris4210x

Government will not going to waste their effort creating a new digital currency but just digitalize what they've owned so it's like dollar have its digital form just like bitcoin in internet and i'm sure that it's already happening if you look at some webmoney that having balance in form of those currencies which were owned by the government

That is unlikely to happen since bitcoin has been a big help in each country and it is still in process and would take many years before it happens. However, if that happens there would still ways for bitcoin to still exist. I know that time bitcoin is already well developed.

Seeing everyone's opinion is a good summing up each contents that is possible to happen. I understand the fact that you are not seeing government's adoption of bitcoin because of its decentralization and so called control by the whales. But talking about its ability to make our lives easier as technology is, bitcoin does what it takes to be adopted that the government needs to study its potential.

Even us users do really saw the potential of bitcoin regarding on its benefits and convenience but government wouldnt still convince them to use or adopt it because they know already that they cant able to control it therefore they would surely create their own replica into bitcoin and im assure it would spread fast because its being regulated and people who dont know bitcoin will directly believe into it.

They can however, create a modified version of bitcoins where it is centralized but has all the great features of bitcoins like the blockchain. The ultimate end of it all is that there would be a digital currency that would replace fiat. It is just a matter of time before it happens. Governments will adopt an electronic financial systems that will be smarter and better than fiat or even bitcoins.

This is better I guess when the government will create their very own modified bitcoins, but how they are going to call it? It will be 'modified btc' just to give credit for where all the credits and idea came from? And also making it centralized will be good for them so that they can have full control for everything, also they can just reproduce it.

At first I didn't really get this post but I still made comments but just recently I just find out that something is happening in las Vegas, people from financial institutions and banking systems have gathered and meet on how to use and integrate blockchain technology into the banking system, and China is creating a virtual currency to replace Chinese Yuan. This is a sign that possibly bitcoin will go bankrupt sooner. Maybe a cashless society will kill bitcoin after all.

I don't think that it will cause for bitcoins fall down because of cashless society. Since the idea came from bitcoin and those agencies that wants to integrate with blockchain technology so how that it will be the cause of bitcoins death if they wants to collaborate with blockchain technology? And for those Chinese people even they will have their own virtual currency still many of them will stick to bitcoin.

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Quote from: GreenBits on January 01, 2017, 07:03:19 AM

Quote from: doona38317 on December 31, 2016, 06:08:52 PM

A cashless society will in fact promote bitcoins as more and more people will start using digital payments or bitcoins. We all know bitcoins is the father of online transactions just we need to get it accepted at big stores and sites.

im didn't know that the father of online transactions is Bitcoin Huh

.By the way a cashless society is the one step that we are living in futuristic world.

I would have to disagree with saying that bitcoins the father of online transactions, (VISA+Mastercard are) If you look at this article

http://www.retailgazette.co.uk/blog/2016/01/ps114bn-spent-online-in-2015

It says that 114$ billion euro was spent online in 2015, bitcoin cannot come anywhere near that. To put it in comparison, 114million bitcoins would have had to be traded to match that. Now you might say, well that is possible if you consider the bitcoin traders/daytraders, if you consider them part of online spending then you would need to count all of trillions that are spent on the NASDAQ/DOW/S&P. Which would blow bitcoins out of the water

gabmen

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Well for me no, It won't kill Bitcoin. Among other online currencies, bitcoin's features would prove to be the most beneficial and easy to use for users. If it comes to a time when all transactions are done online, bitcoin definitely would thrive. Though of course in today's time, cash is still a necessity for people as most transactions are still done through it, even bitcoin needs to be exchanged to cash most of the time.

coynedterm

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It is not easy to make your community or society cashless because people are addicted to make cash pay , which is traditional .
But instead of incoureging few people to adopt digital payment , we should make some campaigns , So that we can explain about this to all person together .
In this way they can easily adopt online payment system , even they can enter in bitcoin Job also .

GreenBits

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Quote from: doona38317 on December 31, 2016, 06:08:52 PM

A cashless society will in fact promote bitcoins as more and more people will start using digital payments or bitcoins. We all know bitcoins is the father of online transactions just we need to get it accepted at big stores and sites.

im didn't know that the father of online transactions is Bitcoin Huh

.By the way a cashless society is the one step that we are living in futuristic world.

U2

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Quote from: lionheart78 on December 31, 2016, 06:46:17 PM

Quote from: doona38317 on December 31, 2016, 06:08:52 PM

A cashless society will in fact promote bitcoins as more and more people will start using digital payments or bitcoins. We all know bitcoins is the father of online transactions just we need to get it accepted at big stores and sites.

Seem you mixed up your details.

As far as I know online transaction was made possible way back 1979 when Michael Aldrich invented online shopping. I don't know if Bitcoin exist way back that time.

You can read more information here : https://en.wikipedia.org/wiki/Michael_Aldrich

Lol ya wtf was he talking about? Freaking foreigners on this website holy crap. I can't understand what they're trying to say half the time.

@OP is obviously wrong. If there's no other currency to deal with then theres only cryptocurrencies left. What a stupid idea. Oh no I can't buy bitcoins with cash, I just earn them. Durp.

lionheart78

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Quote from: stomachgrowls on December 31, 2016, 06:01:49 AM

Even us users do really saw the potential of bitcoin regarding on its benefits and convenience but government wouldnt still convince them to use or adopt it because they know already that they cant able to control it therefore they would surely create their own replica into bitcoin and im assure it would spread fast because its being regulated and people who dont know bitcoin will directly believe into it.

I agree that when a government create their own replica of Bitcoin, it will be absorbed by people because of this reason. They have the authority. The created replica will automatically have valuation depend on how the government decides its value making merchant more comfortable in using them than the high volatility Bitcoin. Aside from that, either the masses like it or not, it is an implementation, there is no way for us to reject it unless we go out in the street but i think that will be futile. This replica if approved by group of commerce will then be used by companies and then may apply it to their payment system for their employees.

Quote from: doona38317 on December 31, 2016, 06:08:52 PM

A cashless society will in fact promote bitcoins as more and more people will start using digital payments or bitcoins. We all know bitcoins is the father of online transactions just we need to get it accepted at big stores and sites.

Seem you mixed up your details.

As far as I know online transaction was made possible way back 1979 when Michael Aldrich invented online shopping. I don't know if Bitcoin exist way back that time.

You can read more information here : https://en.wikipedia.org/wiki/Michael_Aldrich

doona38317

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A cashless society will in fact promote bitcoins as more and more people will start using digital payments or bitcoins. We all know bitcoins is the father of online transactions just we need to get it accepted at big stores and sites.

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Quote from: stomachgrowls on December 31, 2016, 06:01:49 AM

Quote from: passwordnow on December 31, 2016, 05:48:34 AM

Quote from: burner2014 on December 30, 2016, 10:16:22 AM

Quote from: X-ray on December 30, 2016, 06:35:21 AM

Quote from: lionheart78 on December 30, 2016, 06:24:05 AM

Quote from: passwordnow on December 30, 2016, 05:46:46 AM

Quote from: Fluffy_Turtle on December 13, 2016, 02:45:51 AM

If the government came out today and declared that Bitcoin cannot be accepted as legal tender for purchases, I believe Bitcoin would find a way. It would find a way only because of the anonymity that today's cash affords people. Cash is the lovely bridge that people use in turning their Bitcoins into value.

Even though there are news that are coming out since the past years that cashless society will be implemented soon with the use of microchips. I bet it that the government will ban bitcoin. There are a lot of financial experts that will volunteer to have sometime to give detailed explanation to the countries that are going to do it so. And instead, they don't have to make their own digitized currency they can simply adopt bitcoin so I believe that bitcoin will not be killed easily because of it.

I think government would rather create their own digital currency than adopting bitcoin. Government are not dumb to handover its Country's economy to Bitcoin whales. It is the same as giving your country;s fate in foreigners hand. This is one big problem why bitcoin is struggling to be adopted by any government. Aside from that, government would favor cashless society because of the control the government always wanted. And mostly the one stated by Chris4210x

Government will not going to waste their effort creating a new digital currency but just digitalize what they've owned so it's like dollar have its digital form just like bitcoin in internet and i'm sure that it's already happening if you look at some webmoney that having balance in form of those currencies which were owned by the government

That is unlikely to happen since bitcoin has been a big help in each country and it is still in process and would take many years before it happens. However, if that happens there would still ways for bitcoin to still exist. I know that time bitcoin is already well developed.

Seeing everyone's opinion is a good summing up each contents that is possible to happen. I understand the fact that you are not seeing government's adoption of bitcoin because of its decentralization and so called control by the whales. But talking about its ability to make our lives easier as technology is, bitcoin does what it takes to be adopted that the government needs to study its potential.

Even us users do really saw the potential of bitcoin regarding on its benefits and convenience but government wouldnt still convince them to use or adopt it because they know already that they cant able to control it therefore they would surely create their own replica into bitcoin and im assure it would spread fast because its being regulated and people who dont know bitcoin will directly believe into it.

yes i think bitcoin will make them to think about their own digital currency, actually the governments can understand the importance of bitcoin after accepting it by the people and giving importance to it. therefore they must start tier own cryto currency to fulfill the requirements of the modern age.

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Quote from: Gotottack on December 31, 2016, 06:40:33 AM

They can however, create a modified version of bitcoins where it is centralized but has all the great features of bitcoins like the blockchain. The ultimate end of it all is that there would be a digital currency that would replace fiat. It is just a matter of time before it happens. Governments will adopt an electronic financial systems that will be smarter and better than fiat or even bitcoins.

This idea is stillborn as has been explained many times already

Whatever the government might create to undermine Bitcoin (provided it ever comes to that), that will eventually play against them, since copycats are not very tenacious overall, just look at all those useless and worthless legions of altcoins. People will use such a currency for some time and then switch to Bitcoin, raising its even further ("to the sky"). Other than that, you simply can't create a centralized version with the blockchain. The blockchain technology by definition means decentralization

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