Is Bitcoin Really The Future Of Money? - page 51.

stayeduptolate

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Quote from: Xenoph0bia on December 06, 2017, 08:11:08 PM

Quote from: Usine on December 06, 2017, 12:02:31 PM

Digital currency? Please...

Central Banks will create legal and regulated digital currency. But actual cash will never go away. Gold will never go away. People are clamoring for currency backed by gold and you think digital currency that is converted by injecting printed cash into it is some wonderful solution? Digital currency? We are already using it. If you deposit your real cash into Bitcoin to convert it to Bitcoin, I gotta tell you, that is not digital currency. That is some bizarre world. Nothing will be built on top of Bitcoin. Go talk to these Bitcoin millionaires and see if they can even take the money out. They can't. It will on spur on scams and illegal activities in an attempt to at least cash some of that Bitcoin out they amassed by themselves and others putting real central bank printed cash into Bitcoin world. Take a bit step back and look at the Bitcoin world. It is downright PATHETIC!!!

I don't think.that bitcoin or digital money is the future of money.The whole world depends on the fiat currency.Fiat currency has establised itself from the traditional time period.All the transactions are done through the fiat currency.Though bitcoin or digital money is getting very popular and transactions are also being made through it,people will not leave cash at any cost.Moreover bitcoin is decentralised and there can be cases of fraud too.

No bitcoin cannot become the future of money.Though it is the leading cryptocurrency today,still there are many potential cryptocurrencies and altcoins which can replace it.But we cannot deny the fact that cash or fiat currency cannot be replaced by any cryptocurrency or digital money.All the people of the world use cash.It is centralised and stable unlike bitcoin which is decentralised and volatile.

Abhinav Anirudhan

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Bitcoin earning system is a good money earning system as compared to other blockchain system used by many companies. Cryptographic safety ensures prevention of hackers and other problems . Currently Bitcoin currency has a high value compared to other currency .Bitcoins are also transferred to Bitcoin wallets so that gives a individual an opportunity to invest money . Bitcoin currency can be also used for trading to yield more profits.

Mjeramirez

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Streamity Decentralized cryptocurrency exchange

I sincerely believe that bitcoin will be the future of our money, we are now seeing a monetary revolution which will takes us to the final step of globalization. Bitcoin will play an integral part in our society in the future where people can easily transact payments using their gadgets in a safe, fast and reliable manner.

Andika23

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Bitcoin is really the future of Bitcoin's success even without government support, bitcoin will be regarded as the number one crypto in every country. and bitcoin will replace fiat

Alamin9884

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with bitcoin we can make current income and it's true that in the future we can earn money from bitcoin. I thik always believe it bitcoin will be that best business opportunity for me...

shantoote

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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

yes a coin with more than 14,000$ , can’t be hacked,low fee and global money.

next three years most of the world will use bitcoin

JRoa

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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

Yes it is! Bitcoin is our future money but cash will not be extinct. Look the country of Japan, you will find out that most of the people in Japan are now using Bitcoin in their daily payments. There are many businesses and stores in Japan that are now accepting bitcoins.

w5pn73

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No of course not. Do people really think governments would let this happen? With a currency they haven't created and don't have enough stake in?

Kakawate

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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

I believe bitcoin is the future money, people are now so much into bitcoin that they are wanting to use it in their daily transactions, well, I wish we could really use bitcoin in our daily transactions like buying in malls or or paying for fairs, I believe that would be really convenient.

xDsoGood

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I think not, i think that everyone will stick to fiat currency. Because it was established by itself from time to time. If bitcoin became a legal payment method I would suggest no to be

rube08

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I am now convinced that it will be the main currency of the world in less than 10 years. It has gotten too big and gaining mainstream as it was accepted in a stock exchange to trade for futures of bitcoin. Bitcoin is gaining a lot of traction where every day people are going to start using it as a means of payment. There will still be fiat but it wont be as big as bitcoin.

mirakal

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Leading Crypto Sports Betting & Casino Platform

Quote from: Xenoph0bia on December 06, 2017, 08:11:08 PM

Quote from: Usine on December 06, 2017, 12:02:31 PM

Digital currency? Please...

Central Banks will create legal and regulated digital currency. But actual cash will never go away. Gold will never go away. People are clamoring for currency backed by gold and you think digital currency that is converted by injecting printed cash into it is some wonderful solution? Digital currency? We are already using it. If you deposit your real cash into Bitcoin to convert it to Bitcoin, I gotta tell you, that is not digital currency. That is some bizarre world. Nothing will be built on top of Bitcoin. Go talk to these Bitcoin millionaires and see if they can even take the money out. They can't. It will on spur on scams and illegal activities in an attempt to at least cash some of that Bitcoin out they amassed by themselves and others putting real central bank printed cash into Bitcoin world. Take a bit step back and look at the Bitcoin world. It is downright PATHETIC!!!

I don't think.that bitcoin or digital money is the future of money.The whole world depends on the fiat currency.Fiat currency has establised itself from the traditional time period.All the transactions are done through the fiat currency.Though bitcoin or digital money is getting very popular and transactions are also being made through it,people will not leave cash at any cost.Moreover bitcoin is decentralised and there can be cases of fraud too.

What will dominate in this world is the currency that the government made and supported, bitcoin is just another digital currency in the future but majority of the people will be comfortable with using paper money because they are satisfied with it and there is no risk in using it. If we are all using bitcoin then for sure we will be facing risk all the time and this is only good for risk takers and those people who can afford to lose their money.

SeVenlast

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● KEEP CALM & HODL ●

I don't guarantee if Bitcoin becomes a good future. Wink

Xenoph0bia

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Quote from: Usine on December 06, 2017, 12:02:31 PM

Digital currency? Please...

Central Banks will create legal and regulated digital currency. But actual cash will never go away. Gold will never go away. People are clamoring for currency backed by gold and you think digital currency that is converted by injecting printed cash into it is some wonderful solution? Digital currency? We are already using it. If you deposit your real cash into Bitcoin to convert it to Bitcoin, I gotta tell you, that is not digital currency. That is some bizarre world. Nothing will be built on top of Bitcoin. Go talk to these Bitcoin millionaires and see if they can even take the money out. They can't. It will on spur on scams and illegal activities in an attempt to at least cash some of that Bitcoin out they amassed by themselves and others putting real central bank printed cash into Bitcoin world. Take a bit step back and look at the Bitcoin world. It is downright PATHETIC!!!

I don't think.that bitcoin or digital money is the future of money.The whole world depends on the fiat currency.Fiat currency has establised itself from the traditional time period.All the transactions are done through the fiat currency.Though bitcoin or digital money is getting very popular and transactions are also being made through it,people will not leave cash at any cost.Moreover bitcoin is decentralised and there can be cases of fraud too.

Usine

newbie

Activity: 28

Merit: 0

Digital currency? Please...

Central Banks will create legal and regulated digital currency. But actual cash will never go away. Gold will never go away. People are clamoring for currency backed by gold and you think digital currency that is converted by injecting printed cash into it is some wonderful solution? Digital currency? We are already using it. If you deposit your real cash into Bitcoin to convert it to Bitcoin, I gotta tell you, that is not digital currency. That is some bizarre world. Nothing will be built on top of Bitcoin. Go talk to these Bitcoin millionaires and see if they can even take the money out. They can't. It will on spur on scams and illegal activities in an attempt to at least cash some of that Bitcoin out they amassed by themselves and others putting real central bank printed cash into Bitcoin world. Take a bit step back and look at the Bitcoin world. It is downright PATHETIC!!!

Renr

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It's you who isn't understanding, Nigel

Look, I get you have an interest in pushing Bitcoins. You probably "invested" heavily in them, but that doesn't change the fact that bitcoins will remain a tiny niche currency, more along the lines of bartering then as legal tender. If you want to trade in it, be my guest, I'll stick with something that is backed by institutions and governments. A pebble is as valuable as a bitcoin, if I and others wish to trade in them for services. It only has the value the we give it. If outside our circle nobody else gives it any value, then it's a niche currency, and it becomes valueless beyond our circle of friends. I understand how bitcoins are generated, I understand the more "found" the less available, (like Gold) but as noted, Gold and silver have value due to it's physical properties, unlike Bitcoins which have no physical properties.To put it bluntly - I have yet to walk down the street and see a sigh saying "In God we trust - All others pay Bitcoin"

Rludd

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Quote from: Rludd on December 06, 2017, 11:58:23 AM

Quote from: Aneelal on December 06, 2017, 11:57:53 AM

Quote from: Giric on December 06, 2017, 11:57:05 AM

Quote from: Stianyd on December 06, 2017, 11:56:32 AM

Quote from: Renr on December 06, 2017, 11:55:57 AM

Quote from: Usine on December 06, 2017, 11:55:25 AM

Bitcoin just needs to pivot

As most entrepreneurs know if people think your idea is crazy you are probably onto something. The companies that are emerging around bitcoin usage should look to other markets. Like countries that have unstable governments, like areas in the Middle East and Africa. Bitcoins would be appreciated more there rather than the country's own currency due to the governmental uncertainty. Emerging markets might also be a good place for bitcoin. They might prefer a currency that already has unique markers and system for identification. Areas where they bank just using cellphones might also be a good niche market for bitcoin. It might have been dealt a blow by the Silkroad closure, but it is not going away. Remember that Apple's first computers were crappy children's toys but look at them now.

Computers and bitcoins are two totally differen things

so to make that connection that this can grow to be the leading currency isn't a good analogy. What good are bitcoins as a currency in Africa if it can't trade beyond it's border? Is there any physical wealth backing it up? If a bank won't convert it to cash for you, what value does it have? Once it becomes regulated (no banking system will trade in uncontrollable and unregulated currencies) it become the same thing we have now.You'd do much better mining for gold then bitcoins, as with the fist it is a tangable, physical medium that fluctuates in price.

Response

"Is there any physical wealth backing it up?" William, you've struck the bedrock of what constitutes "value" with the shovel of a stupid question. Bitcoin has value because, (1) it's scarce and (2) it has specific attributes that make it an ideal store of value and "programmable" medium of exchange. You need nothing else. "Once it becomes regulated (no banking system will trade in uncontrollable and unregulated currencies) it become the same thing we have now." It becomes the same as what? Please read Satoshi's original White Paper. I don't think you're correctly understanding the technology behind the protocol.http://bitcoin.org/bitcoin.pdf

In other words...

...it's backed purely by supply and demand. If demand goes away, then the value goes through the floor.

..

What isn't backed by supply and demand? That's how a market operates. Again, Bitcoin has value because, (1) it's scarce and (2) it has specific attributes that make it an ideal store of value and "programmable" medium of exchange.It will never not be (1). The only way (2) will be eliminated is if a more efficient technology comes along, in which case we're all better off.

Bitcoin is only valuable as a medium of exchange

Gold and silver, on the other hand, have many useful characteristics entirely separate from their trading value (even the tobacco traded in 18th century Virginia had that). This is what is meant by "intrinsic value".In other words, bitcoin qualifies as fiat currency, even though it's not imposed or backed by states or even private institutions.

Irony of ironies

Wow... some people are really dense. Due to anonymity, it prevents fraud? Go ahead and burn in Bitcoin by yourself!!! That is all I ask from Bitcoin pushing morons.

Renr

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Quote from: Usine on December 06, 2017, 12:00:03 PM

Quote from: Kesecer on December 06, 2017, 11:59:41 AM

Quote from: Amial on December 06, 2017, 11:59:23 AM

...backed by supply and demand...

That goes for anything. Please offer me a reasonable explanation why the individuals around the world will reject a low cost, frictionless, censorship proof medium of exchange like Bitcoin?

Response

Kind of like what happens when the US stops giving out loans? There is so much misinformation here, even worse the article was very poor. It is obvious the writer does not understand digital currency on any level and hence should not be writing any articles in relation to them. The value of bitcoin as an exchange medium across country borders is unparalleled at the moment. As for the anonymity it provides, has no one stopped to think the amount this could reduce the fraud budget? Unlike a credit card, when you use bitcoin on the internet you are not exposing your information to fraudulent activity. No one said bitcoin would take over the currency market, but if you think for a second it is not going to play a large role, then you can not possibly understand the currency or its benefits.

Identity theft

1 in 10 people have been the victim of identity theft...........

Bitcoin is filled with crooks

Wow... so? Bitcoin is filled with crooks trying to unload and cash out their Bitcoins on unsuspecting Bitcoin hazed millionaire wannabees who are totally misguided and misinformed. But that's wonderful right?

Usine

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Quote from: Kesecer on December 06, 2017, 11:59:41 AM

Quote from: Amial on December 06, 2017, 11:59:23 AM

...backed by supply and demand...

That goes for anything. Please offer me a reasonable explanation why the individuals around the world will reject a low cost, frictionless, censorship proof medium of exchange like Bitcoin?

Response

Kind of like what happens when the US stops giving out loans? There is so much misinformation here, even worse the article was very poor. It is obvious the writer does not understand digital currency on any level and hence should not be writing any articles in relation to them. The value of bitcoin as an exchange medium across country borders is unparalleled at the moment. As for the anonymity it provides, has no one stopped to think the amount this could reduce the fraud budget? Unlike a credit card, when you use bitcoin on the internet you are not exposing your information to fraudulent activity. No one said bitcoin would take over the currency market, but if you think for a second it is not going to play a large role, then you can not possibly understand the currency or its benefits.

Identity theft

1 in 10 people have been the victim of identity theft...........

Kesecer

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Activity: 28

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Quote from: Amial on December 06, 2017, 11:59:23 AM

...backed by supply and demand...

That goes for anything. Please offer me a reasonable explanation why the individuals around the world will reject a low cost, frictionless, censorship proof medium of exchange like Bitcoin?

Response

Kind of like what happens when the US stops giving out loans? There is so much misinformation here, even worse the article was very poor. It is obvious the writer does not understand digital currency on any level and hence should not be writing any articles in relation to them. The value of bitcoin as an exchange medium across country borders is unparalleled at the moment. As for the anonymity it provides, has no one stopped to think the amount this could reduce the fraud budget? Unlike a credit card, when you use bitcoin on the internet you are not exposing your information to fraudulent activity. No one said bitcoin would take over the currency market, but if you think for a second it is not going to play a large role, then you can not possibly understand the currency or its benefits.

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