Is Bitcoin Really The Future Of Money? - page 82.

pinkpanther03

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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

This has been several times that has been discussed in different section of the forum thread. But whatever they gave respond on this topic those side of comments of the member here all of it are just speculation for now or some of others prediction are close to it.

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Quote from: SHAWN-MIDWAYS on March 10, 2017, 12:12:45 AM

Quote from: fundyourself on March 09, 2017, 08:39:57 PM

Quote from: FLoving on March 04, 2017, 03:45:38 AM

Quote from: Dr.Osh on March 03, 2017, 09:19:05 AM

I think it all depends on the mindset of the people. if they thought appropriate, and quickly follow the development of technology, of course it would make bitcoin be money for the future. I am sure, if bitcoin in the response by the government, it is also important that will make bitcoin become the currency of the future.

The problem with the developers are people is that everyone want their own currency to be the competitor so they do not focus on bitcoin but try to work on different places for different currencies to get some money and that is making the process of success of crypto currency slower. If they all will focus on bitcoin then very sooner bitcoin will replace the remaining currencies.

I think the issue is not developer not wanting to focus on bitcoin, but bitcoin code technology is not as good as the rest of the virtual currencies and any significant improvements to bitcoin take ages to implement due to need a majority of the miners to agree. There is quite a health developer ecosystem built around ETH for example and a clear development roadmap that can be executed

Honestly for bitcoin to be the future of money does not only rely on miners or developers.
People will have to learn the bitcoin technology and it needs not to be seen to be under any countries control to avoid any future conflicts of interest. And our mindsets of bitcoins having the sole purpose of trading needs to change,to avoid the volatility issues... if we ever want it to go mainstream!

To be the future of money, technology is the much concerned one than the miners. Developers are the most important to make it grow further. These days the competitors in the digital currency network has increased a lot, so how developers make use of the opportunity leads it go mainstream. Possibly bitcoin serves as an alternate than mainstream.

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Quote from: fundyourself on March 09, 2017, 08:39:57 PM

Quote from: FLoving on March 04, 2017, 03:45:38 AM

Quote from: Dr.Osh on March 03, 2017, 09:19:05 AM

I think it all depends on the mindset of the people. if they thought appropriate, and quickly follow the development of technology, of course it would make bitcoin be money for the future. I am sure, if bitcoin in the response by the government, it is also important that will make bitcoin become the currency of the future.

The problem with the developers are people is that everyone want their own currency to be the competitor so they do not focus on bitcoin but try to work on different places for different currencies to get some money and that is making the process of success of crypto currency slower. If they all will focus on bitcoin then very sooner bitcoin will replace the remaining currencies.

I think the issue is not developer not wanting to focus on bitcoin, but bitcoin code technology is not as good as the rest of the virtual currencies and any significant improvements to bitcoin take ages to implement due to need a majority of the miners to agree. There is quite a health developer ecosystem built around ETH for example and a clear development roadmap that can be executed

Honestly for bitcoin to be the future of money does not only rely on miners or developers.
People will have to learn the bitcoin technology and it needs not to be seen to be under any countries control to avoid any future conflicts of interest. And our mindsets of bitcoins having the sole purpose of trading needs to change,to avoid the volatility issues... if we ever want it to go mainstream!

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Quote from: kidoseagle0312 on March 09, 2017, 11:47:23 PM

This what all the bitcoin community to be happen, to make bitcoin become the new world currency in all country. But now we are just starting up in the fulfillment of the future of bitcoin. It may take years from now before it happen, but the good things is there is a brighter future awaiting to all bitcoin enthusiast.

I will definitely agree with that, the future is very bright for us bitcoin enthusiast and to be honest I have my time spend mostly in learning bitcoin and exploring opportunities to earn. We are optimistic about its future and we put our investment on it, with that it is just right to make an effort to help in awareness of the people to attract users.

The government is very aware of bitcoin and there positive actions will give an big impact on the market as a whole, you know people government will endorse bitcoin, people will trust it. AFAIK, they are making laws to ensure the proper usage of bitcoin to be able for the users not to compromise what they have in the future.

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This what all the bitcoin community to be happen, to make bitcoin become the new world currency in all country. But now we are just starting up in the fulfillment of the future of bitcoin. It may take years from now before it happen, but the good things is there is a brighter future awaiting to all bitcoin enthusiast.

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Quote from: fundyourself on March 09, 2017, 08:39:57 PM

Quote from: FLoving on March 04, 2017, 03:45:38 AM

Quote from: Dr.Osh on March 03, 2017, 09:19:05 AM

I think it all depends on the mindset of the people. if they thought appropriate, and quickly follow the development of technology, of course it would make bitcoin be money for the future. I am sure, if bitcoin in the response by the government, it is also important that will make bitcoin become the currency of the future.

The problem with the developers are people is that everyone want their own currency to be the competitor so they do not focus on bitcoin but try to work on different places for different currencies to get some money and that is making the process of success of crypto currency slower. If they all will focus on bitcoin then very sooner bitcoin will replace the remaining currencies.

I think the issue is not developer not wanting to focus on bitcoin, but bitcoin code technology is not as good as the rest of the virtual currencies and any significant improvements to bitcoin take ages to implement due to need a majority of the miners to agree. There is quite a health developer ecosystem built around ETH for example and a clear development roadmap that can be executed

This hardly can be agreed with

The vast majority of altcoins are outright shit coins. I don't even understand how folks can compare the technologies of Bitcoin and these coins when they are there basically to hit and run, i.e. earn their developers quick buck and then leave the gullible with empty pockets filled with air. Other than than, whatever altcoins are there for real, in respect to their technology, it is essentially the same technology behind them which is behind Bitcoin. They are all effectively copycats in this regard. Regarding Ethereum (more specifically), I cannot validate your claims (since I'm not very familiar with this coin), but what you say (a healthy developer ecosystem and a clear development roadmap) has nothing to do with technology as such, though I always say myself that such things are as important as code itself and what it does (i.e. coin features and capabilities)

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Quote from: agamasrori on March 03, 2017, 09:07:06 PM

Quote from: Dr.Osh on March 03, 2017, 09:19:05 AM

I think it all depends on the mindset of the people. if they thought appropriate, and quickly follow the development of technology, of course it would make bitcoin be money for the future. I am sure, if bitcoin in the response by the government, it is also important that will make bitcoin become the currency of the future.

recognition or legalized by the government, will facilitate bitcoin to be accepted by society. I believe the government and the public will realize that fiat was no longer appropriate for use in the present.

I agree with you, but we are still not sure about this, about not using fiat anymore in the future because bitcoin would be the future money that we are all goin to use. Government are still in the process where they are thinking if making bitcoin as the future money really worth it. I'm sure that some of the politicians won't agree to it just like that, because if this things really happens, then, they can't steal anymore people's money.

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Quote from: FLoving on March 04, 2017, 03:45:38 AM

Quote from: Dr.Osh on March 03, 2017, 09:19:05 AM

I think it all depends on the mindset of the people. if they thought appropriate, and quickly follow the development of technology, of course it would make bitcoin be money for the future. I am sure, if bitcoin in the response by the government, it is also important that will make bitcoin become the currency of the future.

The problem with the developers are people is that everyone want their own currency to be the competitor so they do not focus on bitcoin but try to work on different places for different currencies to get some money and that is making the process of success of crypto currency slower. If they all will focus on bitcoin then very sooner bitcoin will replace the remaining currencies.

I think the issue is not developer not wanting to focus on bitcoin, but bitcoin code technology is not as good as the rest of the virtual currencies and any significant improvements to bitcoin take ages to implement due to need a majority of the miners to agree. There is quite a health developer ecosystem built around ETH for example and a clear development roadmap that can be executed

Carlsen

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I think it's a question how bitcoin integrates in the curent fiat system.
When it's used like othere currencies and taxes are payed, I see no reason why it should not be a part in the system.
But if too many people abuse it to avoid taxes, or do other things against that violate the law, at some point the governments will step in.
I see a big responsibility on the side of the users, what faith will happen to bitcoin.

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Quote from: FLoving on March 04, 2017, 03:45:38 AM

Quote from: Dr.Osh on March 03, 2017, 09:19:05 AM

I think it all depends on the mindset of the people. if they thought appropriate, and quickly follow the development of technology, of course it would make bitcoin be money for the future. I am sure, if bitcoin in the response by the government, it is also important that will make bitcoin become the currency of the future.

The problem with the developers are people is that everyone want their own currency to be the competitor so they do not focus on bitcoin but try to work on different places for different currencies to get some money and that is making the process of success of crypto currency slower. If they all will focus on bitcoin then very sooner bitcoin will replace the remaining currencies.

It's easy for bitcoin to attract attention and i believe that is now starting to be made because of the price and the great development of the developers behind bitcoin. Having other currency or what we called competitor is normal for a currency because just imagine the fiats, there is also a lot of currency in other countries but us dollar stills stand out and that is what bitcoin gonna do, it will continue improving itself for the next few years and someday people will just focus in bitcoin and abandon other cryptocurrencies and that is how the bitcoin can be the future of the payment system or the money.

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Quote from: Dr.Osh on March 03, 2017, 09:19:05 AM

I think it all depends on the mindset of the people. if they thought appropriate, and quickly follow the development of technology, of course it would make bitcoin be money for the future. I am sure, if bitcoin in the response by the government, it is also important that will make bitcoin become the currency of the future.

The problem with the developers are people is that everyone want their own currency to be the competitor so they do not focus on bitcoin but try to work on different places for different currencies to get some money and that is making the process of success of crypto currency slower. If they all will focus on bitcoin then very sooner bitcoin will replace the remaining currencies.

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Quote from: agamasrori on March 03, 2017, 09:07:06 PM

Quote from: Dr.Osh on March 03, 2017, 09:19:05 AM

I think it all depends on the mindset of the people. if they thought appropriate, and quickly follow the development of technology, of course it would make bitcoin be money for the future. I am sure, if bitcoin in the response by the government, it is also important that will make bitcoin become the currency of the future.

recognition or legalized by the government, will facilitate bitcoin to be accepted by society. I believe the government and the public will realize that fiat was no longer appropriate for use in the present.

Perhaps you are right, for only bitcoin users also need to understand that it will have to lose when governments make legitimate bitcoin currency. I do not think that the government missed an opportunity to trace the levy on incomes of citizens and businesses.

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Quote from: Dr.Osh on March 03, 2017, 09:19:05 AM

I think it all depends on the mindset of the people. if they thought appropriate, and quickly follow the development of technology, of course it would make bitcoin be money for the future. I am sure, if bitcoin in the response by the government, it is also important that will make bitcoin become the currency of the future.

recognition or legalized by the government, will facilitate bitcoin to be accepted by society. I believe the government and the public will realize that fiat was no longer appropriate for use in the present.

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I think it all depends on the mindset of the people. if they thought appropriate, and quickly follow the development of technology, of course it would make bitcoin be money for the future. I am sure, if bitcoin in the response by the government, it is also important that will make bitcoin become the currency of the future.

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Quote from: crwth on March 02, 2017, 09:18:34 PM

Right now, the price of Bitcoin rocketed. It's really high compared to Gold now. It has a good outlook right now and it could be beneficial in the future. You know that the future is in your hands. You can try to use it to your advantage.

This is the article I'm talking about.
http://www.businessinsider.com/bitcoin-price-tops-gold-price-2017-3

If for anything, The price alone isn't the only thing that makes Bitcoin what it is. I'm not saying It isn't good for the price to be high but there's more to bitcoin that just the price. Bitcoin provides ease of transferring money to others with no intermediates or middlemen (banks) to monitor or do stuffs with our information. Someone said the rate at which Bitcoin's price is going up, It will be a Currency for only high class rich individuals.

I don't want to agree but If It goes too high, The possibility of using and enjoying bitcoin benefits by not-so-rich people will be reduced.

So much for the future of money Wink

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Quote from: voise on March 02, 2017, 07:48:53 PM

If it's not bitcoin, something better based on bitcoin will be.
Bitcoin is revolutionary at least, but like any other new technology it needs improvement until it hits the average citizen, maybe we won't use cryptocurrency as main currency in a couple decades but we certainly will at some point

If it will be based on Bitcoin, it will most likely be the same Bitcoin

Even if someone forks Bitcoin and adds new killing features to it (surely not something what Litecoin did), Bitcoin will still have a devastating advantage by being already firmly established. And if these features are actually beneficial, Bitcoin can just adopt them as well. There are no patents in the cryptocurrency world (at least, as far as I know). It could be said that whatever is based on Bitcoin and its codebase won't ever get ahead of Bitcoin by any metric that has meaning for actually making it "better". For example, the same Litecoin has confirmation interval 4x less than Bitcoin, but does that actually make it any better? 10 vs 2.5 minutes is not a big deal for the total majority of folks, while both of these coins are far from what is considered as "instant"

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Right now, the price of Bitcoin rocketed. It's really high compared to Gold now. It has a good outlook right now and it could be beneficial in the future. You know that the future is in your hands. You can try to use it to your advantage.

This is the article I'm talking about.
http://www.businessinsider.com/bitcoin-price-tops-gold-price-2017-3

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Quote from: voise on March 02, 2017, 07:48:53 PM

If it's not bitcoin, something better based on bitcoin will be.
Bitcoin is revolutionary at least, but like any other new technology it needs improvement until it hits the average citizen, maybe we won't use cryptocurrency as main currency in a couple decades but we certainly will at some point.

I guess that's not the point of the cryptocurrency has made by the digital logic and algorithm. It will push our digital education and environment but not for the real implementation. The technology has made us feeling easier.

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Quote from: voise on March 02, 2017, 07:48:53 PM

If it's not bitcoin, something better based on bitcoin will be.
Bitcoin is revolutionary at least, but like any other new technology it needs improvement until it hits the average citizen, maybe we won't use cryptocurrency as main currency in a couple decades but we certainly will at some point.

I believe it can be something like Bitcoin, but it would be better to use Bitcoin because it's already established. A lot has emerged when considering many things that Bitcoin has achieved, and it can be used in the future. The blockchain technology is still in its infancy and can be further improved in the areas of confirmation, making it faster to be solved.

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If it's not bitcoin, something better based on bitcoin will be.
Bitcoin is revolutionary at least, but like any other new technology it needs improvement until it hits the average citizen, maybe we won't use cryptocurrency as main currency in a couple decades but we certainly will at some point.

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