Is Bitcoin Really The Future Of Money? - page 109.

Mastsetad

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I strongly believe, that bitcoin is money in the future
bitcoin can be used in all places and all countries, I think it will make people feel comfortable using it. bitcoin might be used as currency in the future so that it could make all the transactions become easier.

It can probably make the transactions more comfortable for people around the world, but it is not likely to happen as there are governments in the world and i don't think they would accept something like this, but they would rather try to make their own digital currencies if they want any change in world's monetary system.

hurain

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I strongly believe, that bitcoin is money in the future
bitcoin can be used in all places and all countries, I think it will make people feel comfortable using it. bitcoin might be used as currency in the future so that it could make all the transactions become easier.

the new generation is really interested in crypto currency, they are taking interest in online shopping and business, on other side bitcoin is the topmost crypto currency of the world, therefore people will trust on bitcoin to use it for online shopping and trading.

tee-rex

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Quote from: Yutikas_11920 on December 30, 2016, 04:40:30 AM

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Quote from: BigBoom3599 on December 29, 2016, 05:05:35 PM

Quote from: dfox101 on December 29, 2016, 04:55:14 PM

Bitcoin as only having 21 mil coins, can't be used as a major currency, but it is the defacto gold in the cyberspace. It is deflationary, and will increase in value when more people get used to it.

How does it having 21m coins make it unable to be the standard currency? If too many decimals is impractical we can always use mBTC or smaller.

That's right bitcoin can be used proportional to its users and it is already happening today. Even though it has a 21 million limit of supply that is even better, why? Because it cannot reproduce so the coins that are moving in the market is going to be good enough and its value will increase but also the whales are there that will do something to make the coins volume lesser.

Indeed it's something that could give us a great advantage in the bitcoin. For if we look at all the things that exist in the bitcoin, that everything is concerned about the economy and also the law of economics that is highly supportive of the growth of the bitcoin become larger and will definitely make us a profit. We see from the number of the population of all of the people there are in the world is greater than the amount the BTC supplies already set, so if in the future the user bitcoin over 90% of the existing population of this world then all will be the heyday of bitcoin

Even it is not going to reach 90%, maybe just 50% of the total of world's population that is already enough to make bitcoin as the future money. Because of that percentage of people, it is already good to encourage the remaining people who are still not using bitcoin. And when it happened, the majority is going to be followed regarding its usage of bitcoin.

In my view, these figures are greatly exaggerated. Many countries, or maybe even most have less than 50 million people of population, which doesn't even make 1% of the total world population. And if Bitcoin reaches that number of people actively using Bitcoin on a regular basis, that will be a huge success, anyway. Just think that it will amount to a mid-sized country such as Italy or Spain using only Bitcoin as their official money.

umairsaleem011

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You better bet your bottom dollar it is.

NEWGOODOUBLE

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Quote from: BigBoom3599 on December 29, 2016, 05:05:35 PM

Quote from: dfox101 on December 29, 2016, 04:55:14 PM

Bitcoin as only having 21 mil coins, can't be used as a major currency, but it is the defacto gold in the cyberspace. It is deflationary, and will increase in value when more people get used to it.

How does it having 21m coins make it unable to be the standard currency? If too many decimals is impractical we can always use mBTC or smaller.

after all, when most people in the world have adopted a bitcoin, then 21 million coins will be relatively small right ?
yeah there are smaller units of mbtc

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Quote from: n0ne on December 30, 2016, 05:03:04 PM

Quote from: talkbitcoin on December 30, 2016, 04:59:20 AM

in the future bitcoin will be used more as a currency but it will never replace "money" or fiat as we know it. because that would mean replacing the centralized, government controlled fiat which is not possible at all.

Most countries everything is getting digitalized as well trying to implement their own fiat in digital form. This is the only way to make a centralized digital currency. So bitcoin is considered as a base and countries involve in making their own digital currency with the same technology rather than using bitcoin officially.

Some countries are already using a digital currency even before the existence of bitcoin, what makes bitcoin very popular nowadays is not only because of it's digital form but more on the decentralized factor. As a user, we see this as unique think compared to others, and we feel we love to transact without someone watching over us. Being anonymous only is the greatest security we could ever ask.

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Quote from: talkbitcoin on December 30, 2016, 04:59:20 AM

in the future bitcoin will be used more as a currency but it will never replace "money" or fiat as we know it. because that would mean replacing the centralized, government controlled fiat which is not possible at all.

Most countries everything is getting digitalized as well trying to implement their own fiat in digital form. This is the only way to make a centralized digital currency. So bitcoin is considered as a base and countries involve in making their own digital currency with the same technology rather than using bitcoin officially.

whizter

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Quote from: talkbitcoin on December 30, 2016, 04:59:20 AM

in the future bitcoin will be used more as a currency but it will never replace "money" or fiat as we know it. because that would mean replacing the centralized, government controlled fiat which is not possible at all.

yes governments have full control over fiat and government will never like to replace their fiat by bitcoin or any other digital currency, therefore it looking really difficult that bitcoin will replace fiat in near future.

whizter

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Quote from: grandy on December 30, 2016, 10:54:59 AM

Quote from: talkbitcoin on December 30, 2016, 04:59:20 AM

in the future bitcoin will be used more as a currency but it will never replace "money" or fiat as we know it. because that would mean replacing the centralized, government controlled fiat which is not possible at all.

but i think bitcoin is not here to replace any fiat currency, people will defiantly have chance to use bitcoin as currency they will also continue using bitcoin, they are not going stop using fiat at all.

it will take a lot of time may be decades when all the people of the world will start using bitcoin, as still not a 1 percent of people are using bitcoin, but in fact the number of bitcoin users is increasing continuously, therefore we can expect that a time will come when majority of the people of the world will be using bitcoin.

grandy

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Quote from: talkbitcoin on December 30, 2016, 04:59:20 AM

in the future bitcoin will be used more as a currency but it will never replace "money" or fiat as we know it. because that would mean replacing the centralized, government controlled fiat which is not possible at all.

but i think bitcoin is not here to replace any fiat currency, people will defiantly have chance to use bitcoin as currency they will also continue using bitcoin, they are not going stop using fiat at all.

Akash1243

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Yes if we are talking about online money but it is harder for bitcoin to replace physical money
And government wouldn't like bitcoin as they can't control it

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Quote from: talkbitcoin on December 30, 2016, 04:59:20 AM

in the future bitcoin will be used more as a currency but it will never replace "money" or fiat as we know it. because that would mean replacing the centralized, government controlled fiat which is not possible at all.

Yes, Bitcoin will never replace fiat because that is one of the traditional system that we have. Bitcoin will be one of the famous currency in the future because we can see its progress as of now that bitcoin is doing a great job and it is reflecting on the price.

dmamigo

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Quote from: talkbitcoin on December 30, 2016, 04:59:20 AM

in the future bitcoin will be used more as a currency but it will never replace "money" or fiat as we know it. because that would mean replacing the centralized, government controlled fiat which is not possible at all.

Yes, Bitcoin popularity is increasing day by day, so it is absolutely possible to be a high potential currency. Also it can be used as investment as well. It will be having great influence in future.

bitcoluck

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I think bitcoin will more popular in the future than now, it is possible to happen cause every day keep increasing the user who starting to interest with bitcoin.

Willitivity

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Truly, truly... Bitcoin is the future and the future is bright. The value of bitcoin keeps going up and shows that bitcoin will one day become the unit on money...

talkbitcoin

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All I know is that I know nothing.

in the future bitcoin will be used more as a currency but it will never replace "money" or fiat as we know it. because that would mean replacing the centralized, government controlled fiat which is not possible at all.

Yutikas_11920

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Quote from: BigBoom3599 on December 29, 2016, 05:05:35 PM

Quote from: dfox101 on December 29, 2016, 04:55:14 PM

Bitcoin as only having 21 mil coins, can't be used as a major currency, but it is the defacto gold in the cyberspace. It is deflationary, and will increase in value when more people get used to it.

How does it having 21m coins make it unable to be the standard currency? If too many decimals is impractical we can always use mBTC or smaller.

That's right bitcoin can be used proportional to its users and it is already happening today. Even though it has a 21 million limit of supply that is even better, why? Because it cannot reproduce so the coins that are moving in the market is going to be good enough and its value will increase but also the whales are there that will do something to make the coins volume lesser.

Indeed it's something that could give us a great advantage in the bitcoin. For if we look at all the things that exist in the bitcoin, that everything is concerned about the economy and also the law of economics that is highly supportive of the growth of the bitcoin become larger and will definitely make us a profit. We see from the number of the population of all of the people there are in the world is greater than the amount the BTC supplies already set, so if in the future the user bitcoin over 90% of the existing population of this world then all will be the heyday of bitcoin

The_Dark_Knight

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Quote from: ameerrosic on November 06, 2016, 05:03:14 PM

Bitcoin has been proclaimed dead 89 times. It has been labeled a Ponzi scheme and a failed experiment. Writers have argued for it to be forgotten and for developers to move on to greener pastures. But moving beyond this rhetoric, it’s not all that difficult to compare the rise of bitcoin to that of another technology: the World Wide Web. http://blockgeeks.com/questions/what-is-your-future-predictions-of-bitcoin/#comment-604

One of the reasons people have a problem accepting bitcoin is that is revolutionary, imagine what people thought when Edison tried to explain to them that an invisible energy called electricity could be used to create light, they probably thought he was insane until they saw the light with their own eyes, something similar happens to bitcoin.

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Quote from: BigBoom3599 on December 29, 2016, 05:05:35 PM

Quote from: dfox101 on December 29, 2016, 04:55:14 PM

Bitcoin as only having 21 mil coins, can't be used as a major currency, but it is the defacto gold in the cyberspace. It is deflationary, and will increase in value when more people get used to it.

How does it having 21m coins make it unable to be the standard currency? If too many decimals is impractical we can always use mBTC or smaller.

We are not discussing here the volume of bitcoins to be use by the people but the value of it, you are right we can all be accommodated in the ecosystem if we choose to adopt all.

BigBoom3599

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Quote from: dfox101 on December 29, 2016, 04:55:14 PM

Bitcoin as only having 21 mil coins, can't be used as a major currency, but it is the defacto gold in the cyberspace. It is deflationary, and will increase in value when more people get used to it.

How does it having 21m coins make it unable to be the standard currency? If too many decimals is impractical we can always use mBTC or smaller.

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