Is bitcoin really the future of money? - page 4.

Japinat

hero member

Activity: 3052

Merit: 685

Quote from: The Cryptovator on November 11, 2022, 03:11:43 PM

Due to the high volatility, you can't use Bitcoin as fiat money. There will be existing fiat whether paper money or digital forms. Bitcoin is a cryptocurrency that exists in the virtual world, it will exist the same and still, we can use it for borderless transactions. It has a value that is backed by the community. Bitcoin won't be the only future money. But yes, it is digital money which is called cryptocurrency.

Yes, and bitcoin wasn't created in the first place to be the future of money or to compete with the existing fiats that are backed by the government and the community. Bitcoin is created to be an asset in digital form and to be a tool or hedge against inflation, an asset that will be much more valuable in the future but risky to be used as a fiat. Maybe in the future, but as of now, bitcoin has still a long way to go before it can compete the fiats.

BRINIRHA

sr. member

Activity: 770

Merit: 266

Payment Gateway Allows Recurring Payments

maybe I don't think Bitcoin will be the future of money right now. but I believe that BITCOIN HAS A GOOD FUTURE. although I'm still new to bitcoin. but for me the decline that occurred in bitcoin (even entire sectors of the economy) is the important thing to attract new people to join bitcoin (to bring in more investors). and I have read that now bitcoin holders are increasing rapidly. and one of the examples of people who have ventured into bitcoin as a result of a bear market is myself.

Ziskinberg

hero member

Activity: 3010

Merit: 666

You have to consider the fact that not all are preferred to use Bitcoin, Therefore, never think OP that this will become the future of money but instead, this will remain as another option/alternative. I think, we just leave it that way because in the first place we are not urged to use this. In fact, the digital way of payment already existed before BItcoin but guess what, only a few people were able to adopt and use it. Many still do not know how to use this as they are still preferred using fiat money.

jokers10

legendary

Activity: 1974

Merit: 3049

Quote from: Diuyen Kim on November 13, 2022, 10:54:20 PM

The value of Bitcoin is comparable to that of gold. Bitcoin cannot be used as legal tender. Even the legal currency of a country is to save the country's economy and does not want to rely on the US dollar for development.
Bitcoin is an emergency safe-haven solution. It cannot be said that Bitcoin is the future of money, it can only be said that Bitcoin will exist for a long time in the future.

You should learn this topic better as there's much misunderstanding in your words. First, Bitcoin is a legal tender in El Salvador and can be used so in some other jurisdictions. Next, talking about the future of the money: we all know which problems Bitcoin has, we know that these problems are solvable, then it is a possible situation that Bitcoin will become a worldwide popular currency in the future (not inevitably but possibly).

Diuyen Kim

newbie

Activity: 21

Merit: 0

The value of Bitcoin is comparable to that of gold. Bitcoin cannot be used as legal tender. Even the legal currency of a country is to save the country's economy and does not want to rely on the US dollar for development.
Bitcoin is an emergency safe-haven solution. It cannot be said that Bitcoin is the future of money, it can only be said that Bitcoin will exist for a long time in the future.

jokers10

legendary

Activity: 1974

Merit: 3049

Quote from: ModestyKK on November 11, 2022, 08:57:27 PM

With the widespread use of Bitcoin now, El Salvador's move has become a start. Bitcoin is recognized by the government and used as legal tender, which means that Bitcoin is also likely to become money in the future. It may be a matter of time, but we This generation can't wait.

El Salvador wanted to get benefits of popular topic being first and attracting true Bitcoin supporters and they've got some effect they hoped for. To become a popular currency worldwide Bitcoin needs more: first to solve problems of scalability and transaction time. LN is a good but not universal answer. Next it should be enough popular and competitive to replace any of popular anchor currencies, as for now it is not yet, and governments prefer to operate their own inflationary currencies as they make financial administration easier and give an option of hiding financial mistakes. So probably someday but I don't think that the same way as in El Salvador which even doesn't have an own national currency.

zfhrt80

newbie

Activity: 23

Merit: 0

Bitcoin was originally released to allow us to decentralize, and assets can be hedged, but I don't think it's realistic as a daily payment. First off, I'm not going to trade him all the time, my idea is to hold and wait for the potential of Bitcoin for the long term.

ModestyKK

newbie

Activity: 17

Merit: 0

With the widespread use of Bitcoin now, El Salvador's move has become a start. Bitcoin is recognized by the government and used as legal tender, which means that Bitcoin is also likely to become money in the future. It may be a matter of time, but we This generation can't wait.

lenexn

newbie

Activity: 20

Merit: 0

Everything will be affected by the crisis. Although it is legal currency, gold will also fluctuate, but Bitcoin has a relatively large advantage in trading. Bitcoin is open, transparent and decentralized. In the past ten years, Bitcoin has has become a trend in the world.

GreatArkansas

legendary

Activity: 2506

Merit: 1394

Quote from: Asiska02 on November 11, 2022, 03:52:42 PM

I never considered it the future of money; rather, I saw it as a means of storage and a bank substitute. Despite its high volatility, Bitcoin is still largely relied on due to its decentralized nature as a means of storing value. Other features of bitcoin that individuals are interested in include the trading aspect, which they appreciate and perceive as a chance to make a lot of money.
(.....)

In short, similar to Gold. A digital gold as others also say about Bitcoin. Which is also ending up as a store of value.
So for me, I agree that Bitcoin is a store of value, which is in digital form.
We all know how Bitcoin works and it's economics, which if you think and look for long term, it is indeed a store of value over the time.

Wakate

hero member

Activity: 1176

Merit: 543

fillippone - Winner contest Pizza 2022

No matter the currency that will be future of money even though that Bitcoin is not going to be amoung, I still give 100% respect to Bitcoin because it's a digital currency that pave a way for all these coins we are seeing in the market right now. People prefer Bitcoin than any other crypto coins in the market and it also controls the market.
Once Bitcoin price start fluctuating, the price of altcoins too will keep fluctuating because of the so much power Bitcoin has. Since the market encourage the establishment of new project, Bitcoin will continue to be the mother board of all cryptocurrencies.

fuguebtc

hero member

Activity: 1974

Merit: 539

Leading Crypto Sports Betting & Casino Platform

Quote from: kawetsriyanto on November 11, 2022, 04:21:28 PM

Quote from: ?? on ??

I don't think bitcoin is a future Money .Because Bitcoin is a digital currency and it is used as a digital payment method. The use of Bitcoin is increasing day by day. This does not mean that the local fiat money of each country will disappear in the future and Bitcoin will be the only currency used globally. However, in the future, Bitcoin may be used as an alternative coin to fiat money worldwide But it will not be a mandatory currency to use

There are some of your statements are contradictory.
If it becomes an alternative currency in the future, means it is future money too.
Whether it is our main currency or not, it is future money as long as it can survive.

Since the use of Bitcoin is getting massive, it is a sign that Bitcoin has a big chance to survive and to adopt by people around the world. Surely, it is an indicator that Bitcoin is possible to be a future currency.

By the way, although Bitcoin is digital money, doesn't mean it has no chance to be the future money. Digital money/currency becomes more popular, its use is increasingly crucial in the current digital era.

What will stop it from becoming the world's currency is its volatility and, more importantly, its decentralization, which the government will never accept. This world is run and controlled by the government so can't expect that something not made by them can replace their product no matter how good it is. Government is the biggest barrier, can it become a currency or not, it can be said that the government will be the one to decide,

kawetsriyanto

legendary

Activity: 2436

Merit: 1140

duelbits.com

Quote from: ?? on ??

I don't think bitcoin is a future Money .Because Bitcoin is a digital currency and it is used as a digital payment method. The use of Bitcoin is increasing day by day. This does not mean that the local fiat money of each country will disappear in the future and Bitcoin will be the only currency used globally. However, in the future, Bitcoin may be used as an alternative coin to fiat money worldwide But it will not be a mandatory currency to use

There are some of your statements are contradictory.
If it becomes an alternative currency in the future, means it is future money too.
Whether it is our main currency or not, it is future money as long as it can survive.

Since the use of Bitcoin is getting massive, it is a sign that Bitcoin has a big chance to survive and to adopt by people around the world. Surely, it is an indicator that Bitcoin is possible to be a future currency.

By the way, although Bitcoin is digital money, doesn't mean it has no chance to be the future money. Digital money/currency becomes more popular, its use is increasingly crucial in the current digital era.

Asiska02

hero member

Activity: 1008

Merit: 702

I never considered it the future of money; rather, I saw it as a means of storage and a bank substitute. Despite its high volatility, Bitcoin is still largely relied on due to its decentralized nature as a means of storing value. Other features of bitcoin that individuals are interested in include the trading aspect, which they appreciate and perceive as a chance to make a lot of money.

Making it possible for individuals to send money online was Bitcoin's main goal. The goal of the digital currency was to offer an alternative payment method that could function without centralized management but otherwise be utilized much like fiat currency. Any further uses for it are secondary to this.

The Cryptovator

legendary

Activity: 2408

Merit: 2226

Signature space for rent

Due to the high volatility, you can't use Bitcoin as fiat money. There will be existing fiat whether paper money or digital forms. Bitcoin is a cryptocurrency that exists in the virtual world, it will exist the same and still, we can use it for borderless transactions. It has a value that is backed by the community. Bitcoin won't be the only future money. But yes, it is digital money which is called cryptocurrency.

serjent05

legendary

Activity: 3010

Merit: 1280

Get $2100 deposit bonuses & 60 FS

I always think and see Bitcoin as one of the future alternatives for money. I never think even once that Bitcoin can replace fiat currency or any national currency because the government will never allow that. Different countries may acknowledge it as legal tender but it will stop there. It won't further escalate to being a country's national currency. Taking that situation, I think Bitcoin isn't the future of money, besides we never know what will happen in the far future, it is possible that another technology will be invented making blockchain technology obsolete.

coolcoinz

legendary

Activity: 2814

Merit: 1192

I'll give you something to think about OP.

You buy a car for 100k USD and a year later it's still in perfect condition. Someone offers you 60k for it, you decline. They say you shouldn't because he saw a few of those used cars listed for 60k, but you know the value of your car and won't sell it for cheap. Some years later someone else sees that car in great condition and offers you 120k saying they don't make them anymore and he was looking for that exact model because he used to drive it but crashed and the market price now is above 100k for a used one.

That's what it means to own bitcoin. Nobody forces you to panic sell because some other people are now selling. Nobody forces you to buy when others are buying. Eventually bitcoin will trade for more than it's trading today. IMO it may not be the future of money but it's the future store of value, digital gold.

harapan

sr. member

Activity: 1736

Merit: 306

It wasn't built to compete with any fiat or CDBC but an alternative to the Fiat money. Because if it's store value's Bitcoin has the tendency to become world currency but how soon can we achieve that when the masses are still not aware enough about the goodness of Bitcoin and using Bitcoin over Fiat money which have been around longer but leads nowhere but to high rates and inflation over the world

tuertezii

jr. member

Activity: 58

Merit: 11

Decentralization is an operation method that is most in line with human consensus, an irreversible development direction that will not be transferred by personal consciousness. Bitcoin is great and belongs to the future.

crunck

legendary

Activity: 1176

Merit: 1005

crunck

Quote from: Obari on November 11, 2022, 07:46:06 AM

Quote from: BitDane on November 10, 2022, 05:35:01 PM

I never think Bitcoin as future of money, but as an alternative. I think so because I believe Bitcoin can be considered by government as an alternative but not as their national currency. An alternative will never be the future of money because of various reason.

The store of value has been one of the major issue why financial institution disregard Bitcoin as money, due to high volatility, Bitcoin is considered as poor store of value.

Bitcoin is just a digital asset and th high volatility has made it not to be regarded as a store of value.
I treat Bitcoin as an asset for investment and by so doing, we possibly be conscious of the risk involved

Exactly, how can a volatile asset become the world currency. Bitcoin is better suited as an investment, an asset, or a commodity than as a currency. I believe it will never be able to become the world currency even if it becomes stable, government will never let something uncontrollable become something circulating in the world.

Topic: Is bitcoin really the future of money? - page 4. (Read 1057 times)