If we all live in a virtual world, will bitcoin become its official currency?

LUCKMCFLY

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Quote from: Impulseboy on October 19, 2018, 09:36:54 PM

I was rewatching Ready Player One earlier with my nephew and this thought came to my mind when I saw the prize money. If, for example, we live in a virtual world (however you describe your understanding of a virtual world) do you think we will only have one currency to use and that is bitcoin? Or will we still have different coins (altcoins)?

I think that depends on the game and the rules that are imbedded, the bitcoin would be very significant and would put a lot of publicity, it is valid because it can highlight the qualitative value that many represent. But to be generalized worldwide, Bitcoin would be ideal.

BADecker

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If we lived in a virtual world, as soon as we realized it, we would be working to get back to the real one. Real Bitcoin is more exciting than virtual Bitcoin.

Cool

daarul50

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I can say that true bitcoin can be the official currency if everyone lives in cyberspace because bitcoin is the single most valuable asset today in the digital world where in the real world all people who understand technology and bitcoin are competing to get as much bitcoin as possible.

Ladysmith

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For there to be a virtual world, there has to be someone who owns the virtual world, and they'd be stupid not to create their own currency for everyone to use within. It would simplify everything and the currency itself would hold immense value.

This may be our future.

Lintormi

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where is the connection between the virtual world and Bitcoin and the cryptocurrency as a whole? But even if we live in the virtual world, we will never know the answer to this question.

BADecker

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I think we already live in a virtual world.

For example, we often make decisions based on what is going to happen and why. Then some of our decisions produce results that are not what we wanted them to be.

If we had been living in a real world, we would have the results we had thought we were going to get.

Cool

ClassyDancer

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I think it will depend on who will create this so-called virtual world. Whoever’s designing it may want it’s own crypto too for a more seamless execution of going virtual, right?

ShawnNathaniel

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Quote from: Btcjunpitz18 on October 19, 2018, 09:48:42 PM

Quote from: Impulseboy on October 19, 2018, 09:36:54 PM

I was rewatching Ready Player One earlier with my nephew and this thought came to my mind when I saw the prize money. If, for example, we live in a virtual world (however you describe your understanding of a virtual world) do you think we will only have one currency to use and that is bitcoin? Or will we still have different coins (altcoins)?

It has a big possibilty that bitcoin will be the official currency if we live a virtual world. I can't imagine how fast the transactions will be.

If this is mandated by the government that's a good idea. There's a lot of benefits we can get using bitcoin as an official currency in virtual world.

Areding

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Wow) it's a very interesting question. I think that yes, in the virtual world, Bitcoin will be the national currency, but other currencies will also be, as in the real world there are dollars, euros, so there will other currencies exist.

BTTmod

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In stature, it could be the equivalent of the US$ for the virtual world indeed.

Drelalind110

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It could be a possibility. But it's a debate if it would be agood idea or not. Again all the other countries may not agree at all.

Zorewen011

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I don't think every nation will unanimously agree to one currency. Rather it is more likely that bitcoin will be established as one of few global methods of payment. There are few altcoins which could actually be of widespread use because they are just so good.

Edoanidd551

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Bitcoin is currently the king of the cryptocurrency world, so yeah if we all live in a virtual world there is a possiblity that it will be official currency. But ethereum will also be a great altcoin competitor for the spot too.

Saunder2018

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If we lived in a virtual world we wouldn't need any physical money. All forms of transaction would have been wired and cryptocurrency could have been the currency if innovations were to go like present times.

michellee

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Quote from: Impulseboy on October 23, 2018, 09:55:03 AM

Quote from: RodeoX on October 22, 2018, 02:19:18 PM

Maybe it's all just a sim? It's surprising how many serious scientists think this could all be an illusion. Undecided

https://en.wikipedia.org/wiki/Simulation_hypothesis

I do not think science and technology mix well sometimes. Scientists think that this whole idea of virtual reality and virtual world is just science fiction, however, I think that there may be a chance for us to live in virtual world kind of setting. I do not think brain-computer interface will work but we could have something like the OASIS in the future. After all, we already have Second Life today.

I think it could happen in the future which we know that new technology will be invented and will help our life. And if you watch a movie about science and technology, you might see that we have a possibility to use that technology in the future. Everything that is happening in the world came with a dream, a dream to make a simple life and human still create something to make it happen, and it's not an illusion. Maybe we cannot see it happen in five or ten years, but we might see it after twenty years from now when the technology and science growth.

Impulseboy

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Quote from: RodeoX on October 22, 2018, 02:19:18 PM

Maybe it's all just a sim? It's surprising how many serious scientists think this could all be an illusion. Undecided

https://en.wikipedia.org/wiki/Simulation_hypothesis

I do not think science and technology mix well sometimes. Scientists think that this whole idea of virtual reality and virtual world is just science fiction, however, I think that there may be a chance for us to live in virtual world kind of setting. I do not think brain-computer interface will work but we could have something like the OASIS in the future. After all, we already have Second Life today.

Impulseboy

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Quote from: lee cooper on October 20, 2018, 02:00:10 AM

This is what happens when thinking in cyberspace, bitcoin becomes an official transaction tool and altcoin becomes coins.

This is interesting, altcoin becoming coins and bitcoin as official transaction tool, just like how physical money is right now in the real world. I think this is possible to happen in the virtual world.

Quote from: PsylockReborn on October 20, 2018, 04:05:37 AM

Bitcoin has scalability issues and if its widely used, there would be some problems with network congestion.

Could you expound on this? Do you mean to say that every single people getting into cryptocurrency (specifically bitcoin) might cause problems because there would be too many people in the network, trying to buy or sell their coins?

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The movie is about virtual reality which is one thing, bitcoin is considered a "virtual" currency because it exists only in digital form and it is not an official currency, it is adopted and used by a group of people called themselves a "virtual" community as there is no way to group them together via traditional definitions.

Unlike virtual reality you can't do much about bitcoin, in a virtual reality you can become a bear and hunt flying whales, with bitcoin....you can spend or store them. Bitcoin are real, even in digital form, what you see or experience in a virtual reality game is ...virtual.

Yes, I know, however, I was wondering because in the movie they used the prize money to run the OASIS, which is their virtual world so in a way, the money holds some value. I was thinking, if for example we have that same technology today or in the near future, is it possible for bitcoin to be this currency that we will be able to use for whatever we want? Does that make sense?

randall_boss

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I believe there will be a few currencies, not just Bitcoin - kind of like the way in which different currencies are used all over the world at the moment (USD, AUD, EU etc). People like the variety

stiletos

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I wouldn't think bitcoin is a virtual currency. If a shop will accept bitcoin from you as payment for coffee, this service isn't virtual.. paying with bitcoin by my own assessment is the same as transfering money using your mobile phone. the transaction may not be seen physical but it is always physically acknowledged. what's a virtual world?? Like the movies right?? FIAT is used in movies, if we were living in a virtual world as much as we use fiat, we could also use bitcoin.

jcarlo

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I am believe in near future when people transaction using internet, i am believe most people using bitcoin as payment. It will be internet payment currency and beside that, bitcoin will be valuable digital asset.

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Quote from: Impulseboy on October 19, 2018, 09:36:54 PM

I was rewatching Ready Player One earlier with my nephew and this thought came to my mind when I saw the prize money. If, for example, we live in a virtual world (however you describe your understanding of a virtual world) do you think we will only have one currency to use and that is bitcoin? Or will we still have different coins (altcoins)?

Get out of dreams and go to work.

Now, let us assume that we live in a virtual world, I would like it to be free from currencies or money. Desire for money is the root of most of the human problems.

wizardcrypto

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if we actually live in a virtual world there will lot of altcoins that will be use as a medium of financial transaction . many companies will develop their token they can trust and use it for their daily business activities between then and their client or customer as the case may be . also countries will also have their coins that is legalize by the government for example the "Petro" altcoin in venezuela is a typical example of cryptocurrency that will be used in a virtual world .

elpape225

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Bitcoin is a very cool thing. Like the whole cryptocurrency, you will soon be able to pay credits and ordinary currency and other products, I believe that cryptocurrency will be a step for us in the future. Grin

Diced90

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I think it is quite probable that by the time we have proper virtual reality, technology would be advanced enough that there wouldn't be cash but crypto money.

basyang

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Quote from: Impulseboy on October 19, 2018, 09:36:54 PM

I was rewatching Ready Player One earlier with my nephew and this thought came to my mind when I saw the prize money. If, for example, we live in a virtual world (however you describe your understanding of a virtual world) do you think we will only have one currency to use and that is bitcoin? Or will we still have different coins (altcoins)?

Well, I think if we only have one currency to use I think it is bitcoin. Because its a long time ago into number rank in the crypto world besides of many alt coins or new coins developed today still we are sticking in Bitcoin and pushed it in the some countries to legalized it. Bitcoin is also famous today and if you asking some people who have a knowledge then you will find out that many of us are choosing bitcoin.

happy weblancer

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Quote from: h0lybyte on October 19, 2018, 09:48:31 PM

Bitcoin is already utilized more than any other coins in the world, it may become global currency in condition if governments regularize its use in respective countries.
Also, some altcoins like ethereum, usdt may live longer or forever but there are almost shitcoins with no future means

I also think that it is quite acceptable that Bitcoin will become the main currency of exchange and another 2-3 cryptocurrencies. But at the same time, other cryptocurrencies will exist on separate platforms, about 50-100.

RodeoX

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The revolution will be monetized!

Maybe it's all just a sim? It's surprising how many serious scientists think this could all be an illusion. Undecided

https://en.wikipedia.org/wiki/Simulation_hypothesis

Reid

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Watched that movie too and somehow it could make you go way far into imagining things. Grin

It may be bitcoin at the first pick as a official currency since it aint controlled.
That is how a virtual world should be.
In the real world though, the internet world should already be using bitcoin as a means of payment for everything but we are still way far that since there are government issues.
One problem when there is different government and different ideas.

Leyss

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Quote from: Impulseboy on October 19, 2018, 09:36:54 PM

I was rewatching Ready Player One earlier with my nephew and this thought came to my mind when I saw the prize money. If, for example, we live in a virtual world (however you describe your understanding of a virtual world) do you think we will only have one currency to use and that is bitcoin? Or will we still have different coins (altcoins)?

It must be borne in mind that not all people have the opportunity to spend a lot of time on the Internet. They mostly live and work in our rough physical world and are unlikely to ever engage in cryptocurrency. Cryptocurrency will not be the dominant currency in the world; it was created not to replace other currencies, but to go along with them. This will be one of the many varieties of payment systems. While it is difficult for us to foresee how far cryptocurrency will go, however, this type of currency has very good prospects.

Blanca_Gregory

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Absolutely! If we are in the virtual world and I assumed by this time countries will no longer exist, then it's definitely possible that bitcoin will become its sole currency. Things would be so much better in the virtual world if we only have one coins to use and that is bitcoin. Although, do you think the price of bitcoin will still matter in the virtual world? Or will it finally have stability?

Juggy777

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Quote from: Impulseboy on October 19, 2018, 09:36:54 PM

I was rewatching Ready Player One earlier with my nephew and this thought came to my mind when I saw the prize money. If, for example, we live in a virtual world (however you describe your understanding of a virtual world) do you think we will only have one currency to use and that is bitcoin? Or will we still have different coins (altcoins)?

I think you're confused as that movie is all about a virtual world which is not reality, meanwhile bitcoins is described as a virtual currency but it's real. I don't think one needs to wait for virtual world, as many countries are getting their own virtual coin, and bitcoins dominance is growing. I don't think one currency is enough for the entire world, there'll always be room for more currencies.

MohamedJones

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As Bitcoin is used and popular more than any other coin it has the potential to be the primary virtual currency. The currency might become global if the government of the respective countries allow them. Bitcoin has a big possibility of becoming the main currency for virtual transactions but, it is still speculation and can't be said for sure and also how fast the transactions will be if it happens.

tegarp90

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Quote from: Impulseboy on October 19, 2018, 09:36:54 PM

I was rewatching Ready Player One earlier with my nephew and this thought came to my mind when I saw the prize money. If, for example, we live in a virtual world (however you describe your understanding of a virtual world) do you think we will only have one currency to use and that is bitcoin? Or will we still have different coins (altcoins)?

That would be so fun if the future will be like that Cheesy

I'm sure there will be one currency left in the future, i'm not saying it will be bitcoin but i think the closest candidate to able doing that is bitcoin Cheesy

Davidbaecker

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Yup, in virtual world, naturally the currency will be bitcoin. Even if we are slightly in the digital era, we are already getting the advantages and facilities of bitcoin, and in virtual world, that'll be like a blast and might be the only one too.

Haven Coffey

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Bitcoin is already considered to be the future of the digtal world. If we ever enter a cashless virtual world, there is a big possibility that bitcoin would become its official currency. Its really a scenario from a future far far away.

Zander Berger

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Considering all the facts it is safe to say that the Bitcoin will become the official currncy of the virtual world along with some of the stable and reliable Altcoins. However, BItcoin will be the most dominant and widely used coin. Other ltcoins like the Etherium will also be there, but they won't be able to cover as much as Bitcoin.

eaLiTy

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Quote from: Impulseboy on October 19, 2018, 09:36:54 PM

do you think we will only have one currency to use and that is bitcoin? Or will we still have different coins (altcoins)?

Bitcoin is used to trade for a long time, be it virtually or in the real world and since it is the first coin and the sheer number of users using it makes bitcoin the go to coin when it comes to crypto market. Any coin which makes business easier with low transaction fees and immediate confirmation will win the race in the long run.

Quote from: Kakmakr on October 20, 2018, 05:17:51 AM

I predict that we will have some kind of Blockchain based Crypto currency for every country in the real world, very soon.

With the way things are going we might see every country coming up with their own crypto currency but the fact remains that we need a decentraziled currency without the intervention of any goverment or central authority and bitcoin will thrive in those situation on principals alone.

Bittalk12

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Good question! If we are living in the virtual world, bitcoin will still be the main or top currency in virtual world but we also have to keep in mind that business is business. Competitors will pop out and they will be called altcoins which offers or claims a better service right? Cryptocurrency is a virtual money so those thousands of altcoins will surely be used to that virtual world.

Kakmakr

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I predict that we will have some kind of Blockchain based Crypto currency for every country in the real world, very soon. We do not have to incorporate this into virtual worlds, for this to be a reality, because we can implement this in the real world. There are currently several countries that are moving towards a cashless society and Crypto currency is just one of the technologies that can help them to achieve this goal.

I doubt that Bitcoin would become a global reserve currency, because the world are simply to divided to accept one currency. Roll Eyes

Bagaji

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Assume we live in a virtual world bitcoin will definitely become the number one currency to be consider for use. Bitcoin has clearly demonstrated to us it potentials on a long term purpose, so far it's the most patronize cryptocurrency and number on on CMC. Live in a virtual atmosphere with bitcoin existence will mean many fun as it will be a global currency.

sunsilk

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Any currency will do in virtual world depending on the agreement of the community there on what they are going to use. But right now, bitcoin is the most popular currency that's being used widely on the web so that's likely to be the agreed official currency there.

Bitcoin can be exchanged to fiat easily so that won't be a problem to them unless they hate bitcoin.

marlonbatotoy

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I dont think so.. But i think bitcoin is the one has potential because bitcoin is the best choice for the virtual currency because of it's long term run..

bering

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It could be yes but possibly too it will not happened but make one currency globally is not good idea and i think if someday we are live in virtual world but it's required several currency and maybe most of countries does not agree with one official currency moreover bitcoin which still have high of volatility and will makes an inflation if we used it and i think this is not good idea

PsylockReborn

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No one can really tell what will happen in the future. Bitcoin has scalability issues and if its widely used, there would be some problems with network congestion. I guess bitcoin will remain a good store of value just like gold because of its scarcity its value will always increase together with its mining difficulty.

There will be a new crypto that will represent or be widely used in online transactions.

FIAT on the other hand will always be there since every monetary unit represents a country's exchange for goods and services and there are also some remote areas that has no access to new technologies like crypto.

pawanjain

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I think bitcoin is already the widest adopted means of payment than any other cryptocurrency. The virtual world is getting expanded day by day and with the increasing community the growth of bitcoin community is also increasing. I believe that if any currency that is going to be used officially then it should be bitcoin. Bitcoin has been dominating all the other cryptocurrencies since a long time.
It will soon even more adopted since it is in the limelight these days and once people get ti know its advantages then it will be used even more. It's just a matter of few more years until bitcoin gets accepted in many other places.

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Quote from: Impulseboy on October 19, 2018, 09:36:54 PM

I was rewatching Ready Player One earlier with my nephew and this thought came to my mind when I saw the prize money. If, for example, we live in a virtual world (however you describe your understanding of a virtual world) do you think we will only have one currency to use and that is bitcoin? Or will we still have different coins (altcoins)?

Bitcoin is the number one currency in virtual world. Alt's do not come near to its popularity and utilization. What we want is a global adoption of Bitcoin as one of the primary/major currency.

lee cooper

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This is what happens when thinking in cyberspace, bitcoin becomes an official transaction tool and altcoin becomes coins. A virtual world full of possibilities. But now we are in the real world and some countries are starting to accept bitcoin, so there is no need to make ourselves in cyberspace.

zitbau

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This theme is interesting because in the virtual world when digital money is used as the primary payment method and all governments accept it. Its future will go further and develop in the best way when accepted by governments around the world.

BitcoinHunt3r

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Quote from: Impulseboy on October 19, 2018, 09:36:54 PM

I was rewatching Ready Player One earlier with my nephew and this thought came to my mind when I saw the prize money. If, for example, we live in a virtual world (however you describe your understanding of a virtual world) do you think we will only have one currency to use and that is bitcoin? Or will we still have different coins (altcoins)?

It always depends on what virtual world it is. But if focused on bitcoin only, so bitcoin will be main currency but with altcoin as side currency. It will be more fun than a world with 1 currency only.

giantrobot

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This is an unrealistic guess. This will not happen very far in the present world.
Bitcoin's easier goal is to become the world's currency. This will make it possible to progress as you say. However, it takes a very long time.

Gloverwrt

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Fiat currencies have also gone virtual and the digitalization of the world started long before BTC creation.

Bitcoin would of course be a welcome alternative, but fiat would still be widely used in a virtual world.
Scalability would be one of the limitations of bitcoin.

kucritt

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of course it will happen, as long we dont have the local currencies, if we have the local currencies the official and main currency in that country is the local currencies, and bitcoin will never be the official currency

bolbau

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if we talk about utopian things and a big hope in the future, obviously we expect that there is only one coin used in 'virtual world'. and I think bitcoin will represent that. but if we talk about the reality that exists, virtual world is the digital world that we use today, even this forum is virtual world itself, so obviously not only bitcoin is a transaction tool. Let's just say that virtual world is currently still in the process of development, so it is very good to appear more than one type of coin for the development of this industry, so that there will be no stagnation in the aspects of innovation and technological progress.

sarfield

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Quote from: Impulseboy on October 19, 2018, 09:36:54 PM

I was rewatching Ready Player One earlier with my nephew and this thought came to my mind when I saw the prize money. If, for example, we live in a virtual world (however you describe your understanding of a virtual world) do you think we will only have one currency to use and that is bitcoin? Or will we still have different coins (altcoins)?

Speaking of cyberspace, anything may happen, especially in the mind is bitcoin, no one will laugh if bitcoin becomes an official currency, in the real world, many use bitcoin as an easy and effective transaction tool.

Luke_Turner

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If the virtual world exist I think there's a high possibility cryptocurrency will be the official currency. I don't think bitcoin will be the only currency even in the virtual world because even in fictional worlds there are different types of currencies. For example, the Harry Potter. They have galleons, sickles, and knuts. It's going to be the same in the virtual world. The only question is which altcoins will stay?

daarul50

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Quote from: Impulseboy on October 19, 2018, 09:36:54 PM

I was rewatching Ready Player One earlier with my nephew and this thought came to my mind when I saw the prize money. If, for example, we live in a virtual world (however you describe your understanding of a virtual world) do you think we will only have one currency to use and that is bitcoin? Or will we still have different coins (altcoins)?

Even though the virtual world is true, we still cannot move from this real world because even though the virtual world is not real, I think it might be better for bitcoin to be an alternative economy and to help the economy when the real world economy experiences a downturn.

Impulseboy

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Quote from: h0lybyte on October 19, 2018, 09:48:31 PM

Bitcoin is already utilized more than any other coins in the world, it may become global currency in condition if governments regularize its use in respective countries.
Also, some altcoins like ethereum, usdt may live longer or forever but there are almost shitcoins with no future means

What do you mean "live longer or forever"? You mean that some altcoins may live longer than bitcoins? How come?

mk4

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Quite unlikely I think. The most likely outcome would be bitcoin would be widely used along with centralized fiat currencies; aaand probably a few altcoins here and there. As of an "official" currency though? I don't think the government would like and allow that. If there's something they would have no control of, it's very unlikely for them to make it "official" anything.

Btcjunpitz18

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Quote from: Impulseboy on October 19, 2018, 09:36:54 PM

I was rewatching Ready Player One earlier with my nephew and this thought came to my mind when I saw the prize money. If, for example, we live in a virtual world (however you describe your understanding of a virtual world) do you think we will only have one currency to use and that is bitcoin? Or will we still have different coins (altcoins)?

It has a big possibilty that bitcoin will be the official currency if we live a virtual world. I can't imagine how fast the transactions will be.

h0lybyte

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Bitcoin is already utilized more than any other coins in the world, it may become global currency in condition if governments regularize its use in respective countries.
Also, some altcoins like ethereum, usdt may live longer or forever but there are almost shitcoins with no future means

Impulseboy

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I was rewatching Ready Player One earlier with my nephew and this thought came to my mind when I saw the prize money. If, for example, we live in a virtual world (however you describe your understanding of a virtual world) do you think we will only have one currency to use and that is bitcoin? Or will we still have different coins (altcoins)?

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