Topic: How can Bitcoin help build a digital global? (Read 402 times)

That's how things works inside this system it helps countries who start to adopt it usages, being capable of transferring between borders to borders it's another alternatives to transact faster.

It's the understanding of people who wanted to use the system and the govern bodies who acknowledge the worth of this crypto currency.


It will happened as we continue to see the progressive movements of bitcoin, for now it's catered small portion
but incoming years more and more people will realize the used and advantages of this system.

I believe the internet made people get together all around the world and bitcoin will do that for money, I heard this from somewhere but I can't remember where I saw this. In the end bitcoin will allow people to work all together and that is how you bring the world closer. Of course this is going to take a long time, people are too hyped about the potential of bitcoin and because it is not used fully right now they always overhype the situation.

Yes, there is a scenario where there is no longer any fiat in the world and the whole world uses bitcoin/ethereum and whatever, that is "technically possible" and could happen, one currency for all the world, why not. However we also know that it is not going to happen anytime soon, maybe it might never happen too, so just because its technically possible, let's not get too hyped about it.

Bitcoin is a crypto currency  coin and you can transfer  one to another without  any kind of information  or identify.. Nobody cannot  find the orginal information  of bitcoin user.Bitcoin  can change  your life anytime because nobody cannot  control  it..I was seen Bitcoin get many negative  feesback and some of people sell bitcoin when it panice..But bitcoin still live and day by it try to grow their market cap and eastablished their postion.

Bitcoin itself is building a digital means of transaction globally. If you can see, most Africa country's are adopting mobile transaction system also known as (tokenization), including bitcoin so it helps in improving a country financially, and it creates room for rapid means transaction.

I understand people "may" have trouble with believing the "decentralized" notion of bitcoin because let's be honest there is not a true decentralization in the entire world right now which creates some sort of problem, and that is why I think there is a big problem of people not giving trust to a trustless system as well.

However satoshi is gone and he is not improving or changing anything neither, at the very worst case he could come back and sell his coins and drop the price of bitcoin but that's it, he could just change the price of bitcoin and not the bitcoin itself, not the code, not the blockchain, it is just going to be something like a regular whale selling but times ten that's it, which is why I highly suspect that people should not be really worried about satoshi coming back neither.

Till date the growth and spread of bitcoin have taken place in a gradual manner. There is no advertising to promote the usage of bitcoin. It isn't a process to force someone use bitcoin. In my country even now majority of the population doesn't have a ATM card.

People are slowly changing towards digital payments. More people have started to use payment applications in large scale, and that might drive people towards bitcoin soon.

You don't need to force everyone  it will slowly adopt by people and no one can stop that ,its already happening right now.the difficult part only is more people is afraid of using it because they are afraid in new technology and its hard for them to learn the knowledge they need to adopt  this digital era  which in long term can also be learn if its normally using every where.

Are you sure that we really need to force digital global adoption? Things evolving as they should. Too low amount of people know about btc to force this process

What proof do you have that he won't do it? This is an abstract mind experiment.
You can just assume that Satoshi is absolutely disappointed in his brainchild because instead of a better future, people use it only for profit (read-exchange for dollars/euros/etc). And he will decide to end this speculative circus once and for all by simply dropping the market with his wallet.

I am not saying that this situation can happen but there is no reverse certainty that it will not happen.
What will happen then? Everyone will immediately accuse Satoshi of being a fraud and deceiver. Cryptocurrency will again be called a bubble and confidence in crypto will fall below the rating of German migration policy.

Many people known as bitcoin miners employ powerful computers in the process to identify mining in the process if they solve the arithmetic problems completed in the process but the opportunity to receive rewards with bitcoins is managed through a peer-to-peer structure in a decentralized system like Bitcoin Forex Market. unlike foreign exchange it is not under the control of any central authority like the central bank or the government as decentralized it will help to transform into a brighter future and digital form.

+1
The problem with a mass adoption itself are on how people with non-millenials / gen z a.k.a boomer still struggle to understand bitcoin as a whole.
Should we wait for those boomer to disappear and we'll get authority that come from gen z or millenials at least so they will create a policy that full of benefit for bitcoin or the blockchain technology itself?

Of course not . It would takes too long .

False hypothesis, what logical evidence do you have to back this claims up? If he wants to dump the price, he could have done it when bitcoin was at its ATH. He never did and he wouldn't do. So don't go around fudding.

I agree with you that this is a bit difficult and there are still many people who do not know about Bitcoin and do not accept it, but I am sure that after a period of time Bitcoin or cryptocurrencies will replace the banks, it may take some time, but this is the logic of evolution.
If you review the history of the development of money in the world, you will find that every certain period of time there is a new invention or system that replaces the old system, so there must come a day and the era of banking ends and a new era begins.

There are a lot of factors to use on Bitcoin but mostly this is accepted by the other people. if you want to focus a wide and mass adaptation you just need to promote the use of it to your community or country. But it thinks they will not too much entertain this kind of coin if you are a president of your country will you promote the use of other money/coin? Instead of your country. Bitcoin is decentralized so they don't have any full control.

Honestly, for me, the end of central banks that you are talking to is near to impossible to happen.
As what I have observed, there are still lots of people who wouldn't even want to try bitcoin.
Most of them supports central banks, maybe because they've been used into it.
I know some of my friends that doesn't want to ge in touch with bitcoin, and I also knoe some that sometimes they do want, sometimes they don' (depends maybe if they will earn some good money because of it).

Yes, this is true, Bitcoin is the beginning of the end of the era of central banks and a new creation of the age of money that is completely different from the previous era, Bitcoin can easily reach any region in the world without any complications and without restrictions imposed by governments and banks.
I think that the most important advantages of Bitcoin are decentralization and preservation of privacy, in addition to that it has a limited number that no one can increase, which makes it maintain its value and these features are lacking in the current financial system.

Of course, the main thing will always be related to transactions and also, a limited amount will make the value continue to rise. These two things are at least a greater concern for them coming to the bitcoin market. Perhaps the financial freedom will be put aside if indeed, bitcoin will be focused on helping to build a digital global, because so far even banks themselves continue to transform so that competition regarding this digital era will continue to develop in many sectors and bitcoin itself will always be involved in it.

Even if a country printed trillions of fiat money but bitcoin is not the same. Bitcoin's price may increase and if you have lots of bitcoin then exchange it to fiat then you'll need lots of money. Since the supply is limited so some people may offer higher price per bitcoin when it is very hard to buy bitcoin.

You make a nice point which is the reason why I supported the movement of Digital national currency creation even though it will be a centralized coin and we cant talk about this issue not giving kudos to the IMF boss which was so knowledgeable to exclude government FUD and stance against crypto and also see crypto as the pathway to safe the world economy. However, I see China an inspiration to others countries in Digital currency creation and I believe the EU are taking much time than expected in the act of creating their own Digital currency but it will be nice if they join so that the US and others can join either.

I agree with you that the European Union can apply as you say, because have tried to make one currency and are used and able to do so. but it cannot influence all other countries to participate in it because of the different policies adopted by each country. even today there are still countries that do not recognize crypto, how can you force yourself to accept it.

we've been in this digital age (https://www.yourdictionary.com/digital-age) since 1970s. so launching this digital yuan is yet just another development in digital currencies. just one significant part in the digital revolution. but it is somehow owed to bitcoin/crypto that we are seeing more and more interest from different governments to launch their own digital currency.
 and because of this pandemic, it gives them more reason to look at cryptocurrencies and how they can benefit the electronic payment system and as much as possible, lessen or avoid direct contact with fiat money.

Considering the world is very attached to each other online with all the shops and everything else, and considering logistics world is increasingly becoming individual compared to wholesale I could say that we are going to see a lot more change in crypto as well. Back in the day since online world wasn't a big deal just yet, people bought wholesale items for their shops and sold it on their shops, but at the same time people couldn't buy from other nations that easily and just bought at those shops.

Nowadays people can buy from shops online and that means individuals could buy individual items so logistics changed for that. But that allowed a lot of credit card purchases and not everyone wants that, so crypto could skyrocket to insane levels if it starts to be accepted a lot more in online shops.

I think we are going to the digital age with the official launch of the digital Yuan that Bitcoin gave rise to and the surrounding circumstances. The rulers of the countries have realized that the financial system and the banking system needed a restructuring to operate more efficiently. Bitcoin and cryptocurrencies have demonstrated the advantages of digital transactions and directed a new way of doing finance.

There is no real decentralization anywhere and never has been.
And just try to say about BTC - now Satoshi will come out of his coma and drop the entire market with his wallet, so instead of a bright crypto-future, you will get a bunch of suicides and turning the coin into dust

Normally printing money could also mean you do not have a high inflation but it depends on the population as well. If you have 100 million dollars and 100 million people that us 1 dollar per person, if you have 200 million dollars for 200 million people that is still 1 dollar per person, so there is no inflation with that. You could get products from all over the world but you could also sell, there are plenty of stuff that could mean you could print money and still not have huge inflation.

The problem here is the fact that none of that happens currently, it is basically all for nothing and the inflation happens due to absolutely no change at all and no protection at all. We should not be worried about printing money, we should be worried about "why" we print money in the first place.

A "digital global" what? Have you millennialised another adjective into a noun?

The better question is this: do the above users have even the faintest idea what they're shitposting about?

How many monetary transactions happen daily? Answer: More than 100 million
How many transactions can be confirmed on Bitcoin Network in a day? Answer: Approximately 300K.

Do you think global economy can be put on Bitcoin Network when it is only capable of confirming less than 0.3% of the total transactions? Not to forget the priority-based fees structure which increases with the increase in the number of transactions.

Bitcoin is a good P2P payment system but not scalable enough to be used on 'Economy Scale'.

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Actually 'trustless' is commonly used in blockchain terminology to represent the fact that you don't have to trust third-party for the authenticity of transactions. You can personally verify each and every record on blockchain. However, I feel it is inappropriate to use the term 'trustless' for this because text-book meaning of trustless is 'non-trustworthy'.

One way or another, today, in many countries, cryptocurrencies are outside legal jurisdiction, and thus any activity related to cryptocurrency may be subject to criminal prosecution. It is in this way that many countries are trying to influence the cryptocurrency market, but nevertheless, no government will be able to prohibit the circulation of cryptocurrency in their country, because if there is no legal market, then there will be a shadow turnover of the cryptocurrency, and this is somehow connected with a shortage of funds to the State Treasury. Thus, the only way out is to adapt the legislation to the new global trend, given the activity in the cryptocurrency market.

Nations dispute is formed when there is a single connection amongst nation you can say its
+ power tussle
+ past clashes/wars
+ different reasoning/pattern of-working.
+ cynical moves

Bitcoin may do the title of this post, can it sustain its global unity with the dispute that will come in? Thats where I doubt it.

??
- did you mean trustworthy??


This is a funny statement, since most people here are not the ones who will run off with their money , it's something which imposters , criminals do.
The base should always be : stability

Plus I do believe that there are many other things that one can add here , regarding the bitcoins and their usage, helping the economy build globally over the scope of internet.

- economic instability is prime problem now a days , we are going through a pandemic and unfortunately stock markets , governmental system , everything is down Where as bitcoins is somehow stable and providing people with job opportunities, opportunities of inter day trading and long term investments.

Bitcoin can help create a digital global through blockchain technology the world is improving a lot through blockchain technology and many countries around the world, including China are trying to implement this currency due to which the demand for currencies is increasing and the bitcoin transaction process is done very transparently. Records of each transaction are stored in a blockchain that anyone can view from any part of the world. As a result there is no scope for corruption.

I believe that we are already on the verge of a large-scale worldwide implementation of cryptocurrency in human everyday life. And if China and the United States are still at war with each other on the political and economic battlefield, then the European Union has already launched an experiment on the implementation of the digital European currency on October 12. The European Union has a very large payment system, which when using the crypto euro will attract a huge number of users to the cryptocurrency market. But you need to take into account the fact that no matter what national cryptocurrencies are created in different countries, including China, Bitcoin will somehow be an international decentralized cryptocurrency, offering independence to each user.

Bitcoin is decentralized and has global liquidity. People use bitcoins more often and the demand for bitcoins keeps increasing in value.
Those who own bitcoins benefit from the price increases and those who use bitcoin benefit because it is cheaper and faster to transfer money internationally than with banks.

Currently, China is testing its digital currency, the EU is preparing a draft to launch a digital currency to be used in tandem with cash. It is clear that since the birth of bitcoin with blockchain technology, it has actually brought a lot of benefits.
Anti-fraud, fast money transfer speed is the advantage that blockchain technology has brought us.

Maybe you missed something else how bitcoin can help build a digital global.  The price of Bitcoin can double in a short span of time.  There have been many people who suddenly became very rich just because they owned and held bitcoin for the past few years.  The possibility that the price of bitcoin will increase many times is really pushing the digital world and it has become very popular.  Bitcoin has become very interesting and very influential for the development of the digital world.  The ease and speed it offers with price opportunities continue to increase is the reason many people consider bitcoin to be worth investing in.

I think Bitcoin can for 3 reasons

The first reason:  The most relevant right now Central banks can print trillions of dollars of their local currency With a never-ending supply, according to the laws of supply and demand, this will inherently devalue the country's local currency. Now, this is what we have seen in countries like Venezuela, for example, where buying two loaves of bread now costs more than half of the average monthly salary. This is hyper-inflation. With bitcoin, there is a 21 million limited supply, no more can be printed no more can be created. This means there’s not enough bitcoin for everyone in the world to own just one… increasing its demand and increasing its value. Over the last few weeks, I’ve seen the federal reserve pump trillions of dollars into the US economy, devaluing the dollar over time. Unlike the dollar, bitcoin cannot be created out of thin air. That’s why it’s often people call it digital gold.This is why we’re bullish on bitcoin.

The Second reason: Bitcoin and blockchain technology is putting people on the financial map. Africa and Latin America lack the financial infrastructure when compared to the west 66% of Sub-Saharan Africans are listed as unbanked yet in 2016 there were over 1 billion mobile phone users. Now with mobile phone apps like Exodus the unbanked have access to a digital wallet, that they can use to trade and to do business with the rest of the world, using a currency like bitcoin which knows no borders.

And finally: Bitcoin matters because it is decentralized. It’s built on blockchain technology which we call trustless.This means no one entity owns your coins, Unlike traditional finance where your money is in the custody of one centralized entity, the banks. Banks can often freeze our funds, banks limit the amount of access we have to our funds per day, and many times you have to pay to use your own money. With bitcoin when you use hardware wallets you the individual has absolute sovereignty over your assets.