Topic: Is crypto the final stage in the evolution of money? - page 5. (Read 711 times)

20 years ago nobody would believe there will be something called digital currency (cryptocurrency) that will be threatening the very existence of fiat, same thing happened years back before the advent of fiat, most of the medium of exchange back then where slowly replaced with fiat.

Now with the technological advancement of this generation it is very likely something more advanced will be created, the world is evolving very fast, new inventions every now and then, so it is possible something new will replace crypto in the future.

Nope.
I believe that the evolution is applicable to anything whether it is human or technology or the money etc. Nobody knows in the past that a currency like cryptocurrency will emerge right? All that we know is that fiat will be the one that we will be using to pay stuff etc.

There are no signs at least for now that there will be another currency or money that will emerge but I still believe that in the next centuries maybe, we might see another currency that is better than the cryptocurrency right  now. I believe that everything will evolved and so is money and the currency that human is using.

In that sense, evolution of technology is infinite. So, the safest thing to say is, Crypto is going to be one of the best thing to happen that co-exist with the money.
Even, cryptocurrency itself will evolve depends on the people's demand.
Mobile and digital banking is also a trend currently, and we will also expect innovation in this field. So, I guess crypto isn't the only thing that's evolving in terms of payment system and monetary transactions.

We always think that the present is the best and there is no way the future can beat the present, maybe just like landlines that lasted for decades and it was never thought that smartphones could beat, technology is always evolving and I believe that crypto is not the final stage in the evolution of money.

Technological progress follows the following path - an object that performs a certain function disappears, but the function itself remains.  

For example, there used to be gold coins.  The object is a gold coin.  This object was characterized by physical properties - weight.  The heavier the coin, the more valuable it is.  But the weight of a coin is its negative property when you are faced with the task of moving large capital over a distance.  

Therefore, gold coins were replaced by paper checks, bills and banknotes.  Now the traveler was relieved of the need to take a heavy bag of gold and silver with him on the road.  Paper money is good, but it also requires physical contact between the buyer and the seller.  This is their shortcoming.  

Therefore, bank cards and cashless payments appeared.  Bank cards also have their drawbacks - this is a single issuing center, one point of failure in the system.  

Therefore, decentralized money (cryptocurrencies) appeared - Bitcoin, Monero, Ethereum, etc.  But cryptocurrencies also have their drawbacks.  To carry out transactions, you need devices - a laptop or a smartphone.  

The next stage in the evolution of money is money, which allows transactions to be carried out with the power of thought (without the direct participation of technical devices).

They haven't been invented yet.

Just wait for several generation of kids to grow up. They will rewrite history according to their needs and vision of the world. No doubt that they will try to digitalize financial system and get rid of cash.

Truly, it is impossible to answer topic question, as we dont know what the world is going to be in one or two hundred years. If crypto is all about decentralization, we might turn into one nation, one republic with fully controlled payment system (like in scy-fi movies).

There's nothing finite when it comes to innovation. If there's something better upcoming, whatever it will be, it can overcome and show that they deserve to be the one being adopted and used by people, but until then, it's still crypto who has the upper hand. With that, I mean Bitcoin. It has changed so many financial impacts on the economy, and many people have changed lives because of it for the better.

So it may not be right away, but innovation always has room for the world.

But this isn't the question, is it? 

For now crypto seems the higher end of technology but as time passes by, technology evolves.  What seems the latest today may be obsolete in the next 5 decades.  Development, improvement, and evolution.  Once this kind of technology is improved or perfected they might find another name for it.  Same way how the terms metaverse and NFT are created.  So I think, crypto isn't the final stage of money evolution.

Of course, evolution will continue to exist along with the times and technology,
when it comes to cryptocurrencies, actually there are still some problems, it's not really perfect, so we'll just have to wait and see what updates will happen,
maybe it will take a long time to see a better technology than cryptocurrency

While there are development , yet we will be looking for Online process of currency and those are crypto and other online transactions mate, meaning we  seeing that the progress is on its way and that is i believe the evolution of Physical money to go virtual money.
and New form? there will no new form from virtual transacting mate.
what you are pointing is specified for Bitcoin only but what about Altcoins? there are uses in the future that bitcoin will be backed up by alts specially when congestion happens mostly .

Indeed, many problems pushed mankind to create new means of payment, and new very serious problems in the form of large commissions and long transactions will give an incentive to search for new forms of payments. I think there will be a more perfect type of means of payment than bitcoin or cryptocurrency. The commissions are already very high and this is without the huge burden that will arise because bitcoin will be paid all over the world.

Many people think that crypto is the last evolution of money and nothing will ever replace crypto, but when there are more and more users the problem gets more complicated, transaction fees are getting more expensive, transactions are slower and many other problems. I believe that evolution will continue so I believe that one day there will be technology that can be better than cryptocurrencies.

When the usage of currency existed out of the coin usage around the world, people lived by that time might had the same thought of currency being the final stage. What has happened further, we had got banking, digital currency, credit/debit cards. Different other forms of cards, applications to support the same.

Here I've mentioned the platforms through which the currency is getting used. Even after such access people aren't satisfied and getting used with cryptocurrencies. Same as this the upcoming generation will expect something and go for better things.

If we do consider out fast pace progress in terms of technology then we would really be presuming that there might be something more better than Bitcoin in the future.Actually if we do look around

there are lots of coins now which is far more better than bitcoin in terms of technical aspects but still people do mainly support Bitcoin because this is the father of all crypto.
Lets just not make out conclusions or do make out some presumptions that this would be the final. Progress is something not would come to conclusion point.

No doubt with bitcoin is the next stage in the development money but depending with smart and skill have by some trader and investor how ability earn profit with bitcoin, I think have many trader and investor made mistake with bitcoin investing and do not know about bitcoin as worth way how evolution of money management by panic selling and panic buying when getting bitcoin on the top price. I think before taling about crypto as final stage evolution money better learn about how to be success investor on bitcoin and altcoin.

Without a doubt I think bitcoin is the next stage in the development of money as a tool for trade, however I think it would be a mistake to think it is the final stage in the development of money, technology is always moving forward and even if I cannot imagine a better form of money than bitcoin that does not mean that someone else cannot do exactly that in the future and create a form of money which is many times better than what we have now.

Worry less, why over think this, enjoy the betterment and merits of Cryptocurrencies and Bitcoin.
Should be thinking if how you should let more people be aware about Cryptocurrency and Utilize it very well.
I think we have about fifty years if not 100 to mine the last Bitcoin.
But definitely, every thing good has it's bad side, just as the local fiat downed Gold, something else will come up to make it worthless, but before that enjoy the moment.
As I don't think Crypto will be the final stage in the evolution of Money.

An interesting question and a lot of interesting answers! First of all, crypto has not conquered the world yet, I think it will be many years before that happens, some would probably say if it happens at all! My opinion is that it will happen one day and from that day we can say that crypto has started a new stage in evolution! This crypto phase will probably last a very long time, I believe it will outlive many of us... who knows what could happen in the distant future, maybe one-day people will raise their awareness and realize that people don't need money at all!

I think we will be wired to the grid. Or chipped in the head. Maybe in under 100 years time. The lure will be longer life time.  And time of life will be the currency.

Not my idea there was a movie about it. In fact I am blending that movie and Johnny Nemonic and Matrix. I kind of think we are heading there.

We have not even seen the best of it so yes, this could be the final stage in our lifetime. But with out grand kids or further than that, we don't know.
There might be a new genius born looking for new ways with how we could transact things in a faster, safer, and private way.
I wish there is, there should be. Growth of mankind will never stop and there should be new ideas to come out. We cannot stop with one and be content about it, there will be flaws someday and it should be fixed.