Is crypto the final stage in the evolution of money? - page 6.

el kaka22

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Quote from: Alisha FR on April 11, 2022, 12:18:07 PM

We cannot say that cryptocurrency is the end of the evolution of money. We can't imagine how advanced the technology will be in the future. However, until now cryptocurrency is still valid as a digital currency and can be used to make buying and selling goods. And crypto has the potential to replace fiat too. It's just that until now it is not easy to apply it to all corners of the region. Crypto has a place digitally, but not everyone can use digital well, citing network limitations or the tools they use.

We are in 2022 right now, I am sure that there must be some old people everywhere around the world, and some tribes that can't have access to smartphones but in the end if those people are absent from a whole network, that could be fine. Just because there were many people who couldn't use online world, didn't mean online world didn't grew to nearly everywhere around the world.

If we could cover even just 90% of the world, which I am sure could access these places, then I think we will be doing fine. Doesn't mean it will become like that, but in the end the possibility is out there. I feel like maybe 10% of the people ever used it, which means there is a lot of room to grow.

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Quote from: Dunamisx on April 12, 2022, 04:14:00 AM

i think working with what we have and can see will be the best advisable option for now, we have bitcoin which have proved outstanding amidst other crypto, i believe with time on a gradual process the world will all get used to the system and fiat note may not be totally eradicated for now, i also see the metaverse coming up with a higher technology with bitcoin and payment system and we cant fully predict what will happen in the nearest future but for now, bitcoin is moving in a faster pace to replace the fiat notes gradually and it may take a while to fully stand, the other way is the metaverse but we cant conclude anything about that not until its fully launched.

It's not only about bitcoin but it's the whole crypto market. The op is asking if there will be a next big thing apart from crypto, I don't think that was metaverse because the metaverse projects that we see, still have a relation with cryptos and metaverse are not a payment method like crypto but it's only just a new technology.

Since the beginning of the internet, we have seen many digital payment methods and the latest would be the cryptos. Cryptos are for sure the last thing that we are going to see but before we think of any other things, we need to focus first on crypto if it will ever be accepted as a main currency or a fiat replacement.

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Quote from: Rruchi man on April 11, 2022, 07:36:23 AM

I don't know if perhaps i'm overthinking this, but considering the evolution of money from the beginning of time where different things have served as a medium of exchange and now currently banknotes.

On same trend, we are slowly witnessing the evolution of money to crypto and i can't help but wonder if crypto is the final stage or there may perhaps be another revolutionary idea to replace crypto as money after crypto has been accepted.

What do you think?

Maybe it could be the final stage of the evolution of money, but not necessarily of monetary transactions, in a sense that in the future money as a concept could become outdated. In a post-scarcity world (and I know we are not even close rn) money as such would lose meaning. Let's not forget that money was a concept that developed over time in human evolution, so it wouldn't be a far stretch to think that we could once more hit that point in the cycle.

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Quote from: Smitty Werben Man Jensen on April 12, 2022, 05:43:22 AM

Yes, we will not know in the future what developments will be,
because indeed along with the development of the times followed by technology that continues to develop, it is possible that payment methods will also develop,
I think it's mutually reinforcing and to make it clearer, we'll see in the future

More inventions may come after cryptocurrencies or development will be made more in crypto as the technology become more efficient to everyone. Once everyone can have access of crypto in their area the easier for bitcoin or cryptocurrencies to be use by many. It may not be the final stage but it may last longer due to the wide ideas that it can be used by many even in different sectors or projects.

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Quote from: Wapfika on April 12, 2022, 07:44:26 AM

Quote from: Smitty Werben Man Jensen on April 12, 2022, 05:43:22 AM

Yes, we will not know in the future what developments will be,
because indeed along with the development of the times followed by technology that continues to develop, it is possible that payment methods will also develop,
I think it's mutually reinforcing and to make it clearer, we'll see in the future

More inventions may come after cryptocurrencies or development will be made more in crypto as the technology become more efficient to everyone. Once everyone can have access of crypto in their area the easier for bitcoin or cryptocurrencies to be use by many. It may not be the final stage but it may last longer due to the wide ideas that it can be used by many even in different sectors or projects.

to apply it to the actual function of cryptocurrency as a currency around the world, I think it still takes a long time. in addition to the situation and conditions of world development, governments must also think about their advantages when legalizing it as currency. but it still has a chance, given the current war, crypto has a role to play in supporting the country's economy, but I think this is far from being a sign of legalization, considering that Russia stipulates that the means of payment for oil purchases is in ruble.

ChiBitCTy

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Quote from: Rruchi man on April 11, 2022, 07:36:23 AM

I don't know if perhaps i'm overthinking this, but considering the evolution of money from the beginning of time where different things have served as a medium of exchange and now currently banknotes.

On same trend, we are slowly witnessing the evolution of money to crypto and i can't help but wonder if crypto is the final stage or there may perhaps be another revolutionary idea to replace crypto as money after crypto has been accepted.

What do you think?

No, I think as time goes on money will always change it’s medium. It first started off with things such as blankets and beads to silver and gold and continued on to current days money such as coins and paper notes. Now we are reaching the next revolution of money which is cryptocurrency/bitcoin. Truth be told I’m not 100% sure bitcoin will be the “winning” currency, there might be one that’s created which is much better. Only time will tell I suppose.

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Quote from: bakasabo on April 12, 2022, 03:28:13 AM

Quote from: cabron on April 11, 2022, 09:53:20 AM

Quote from: bakasabo on April 11, 2022, 09:43:21 AM

I dont think that cryptocurrency is a final stage of evolution. I believe that thousand, maybe ten thousand years will pass or something will happen with the Earth, when people would realize there is something more valuable than money.

Has anyone seen movie "In time"? There, people use time or life span as a payment method. Since we havent created a potion immortality, time might be one of future or final stage of evolution of money.

I saw the movie, the time zone they've had there is already a vulnerability and anyone can snatch time from someone else wrist. Seem not a very possible way to implement currency but sure TIME is valuable. We can never turn back time so that's very valuable. In the movie, anyone dies when thier time is over.

TIME can not be a currency. Chrono.Tech TIME has it already though which is this https://coinmarketcap.com/currencies/chrono-tech/
As far as I know, they have plans for TIME to be the fee for employees, I have no idea what happen to this project anymore.

I'm not gonna be around when something will exist to become a currency but maybe Elon can shower us some meteorites on earth and be it a currency one day.

I meant time just as an example. But what I wanted to say, is that something that is ending, irreplaceable, something that is impossible to produce or replace, will be the final stage of evolution of money. Cryptocurrency can not be its final stage. At first we have food, beads, then gold, later we had paper money, followed by electronic fiat, then we have crypto. Payment methods will keep evolving.

Yes, we will not know in the future what developments will be,
because indeed along with the development of the times followed by technology that continues to develop, it is possible that payment methods will also develop,
I think it's mutually reinforcing and to make it clearer, we'll see in the future

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Quote from: istiak2277 on April 12, 2022, 04:40:20 AM

You know what is so interesting about evolution? There is endless possibilities and it never stops. Human never stop learning and testing new things. This learning process continues because problem in human life keep appearing. There is a saying that " necessity is the mother of all invention". May be one day crypto will also lose its necessity and something else will took it place.

I have a similar opinion, people will never accept that it is impossible to do something better than what currently exists, not only when it comes to finances, but in any other segment of our daily lives. This eternal competition actually contributes to the development of society (although not always for the better), and if it were not so we would still be living in a world without the advanced technology that surrounds us today.

How long cryptocurrencies will last and whether at some point a new innovator will come up with a revolutionary idea we can only guess. I believe this will inevitably happen, maybe 50, maybe 100 years from today - and what is happening today will be the subject of historians' study - much like today's historians are studying history.

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Quote from: Rruchi man on April 11, 2022, 07:36:23 AM

I don't know if perhaps i'm overthinking this, but considering the evolution of money from the beginning of time where different things have served as a medium of exchange and now currently banknotes.

On same trend, we are slowly witnessing the evolution of money to crypto and i can't help but wonder if crypto is the final stage or there may perhaps be another revolutionary idea to replace crypto as money after crypto has been accepted.

What do you think?

You know what is so interesting about evolution? There is endless possibilities and it never stops. Human never stop learning and testing new things. This learning process continues because problem in human life keep appearing. There is a saying that " necessity is the mother of all invention". May be one day crypto will also lose its necessity and something else will took it place.

But there is no shame on saying that paper cash lose its necessity because of online marketplace. You can not use paper cash directly on a online market place. You have to use electronic version of it. May be one day we will exchange energy with exchange other instead of some metallic or electronic commodities.

Dunamisx

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Quote from: Rruchi man on April 11, 2022, 07:36:23 AM

On same trend, we are slowly witnessing the evolution of money to crypto and i can't help but wonder if crypto is the final stage or there may perhaps be another revolutionary idea to replace crypto as money after crypto has been accepted.

What do you think?

Well i think working with what we have and can see will be the best advisable option for now, we have bitcoin which have proved outstanding amidst other crypto, i believe with time on a gradual process the world will all get used to the system and fiat note may not be totally eradicated for now, i also see the metaverse coming up with a higher technology with bitcoin and payment system and we cant fully predict what will happen in the nearest future but for now, bitcoin is moving in a faster pace to replace the fiat notes gradually and it may take a while to fully stand, the other way is the metaverse but we cant conclude anything about that not until its fully launched.

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Quote from: cabron on April 11, 2022, 09:53:20 AM

Quote from: bakasabo on April 11, 2022, 09:43:21 AM

I dont think that cryptocurrency is a final stage of evolution. I believe that thousand, maybe ten thousand years will pass or something will happen with the Earth, when people would realize there is something more valuable than money.

Has anyone seen movie "In time"? There, people use time or life span as a payment method. Since we havent created a potion immortality, time might be one of future or final stage of evolution of money.

I saw the movie, the time zone they've had there is already a vulnerability and anyone can snatch time from someone else wrist. Seem not a very possible way to implement currency but sure TIME is valuable. We can never turn back time so that's very valuable. In the movie, anyone dies when thier time is over.

TIME can not be a currency. Chrono.Tech TIME has it already though which is this https://coinmarketcap.com/currencies/chrono-tech/
As far as I know, they have plans for TIME to be the fee for employees, I have no idea what happen to this project anymore.

I'm not gonna be around when something will exist to become a currency but maybe Elon can shower us some meteorites on earth and be it a currency one day.

I meant time just as an example. But what I wanted to say, is that something that is ending, irreplaceable, something that is impossible to produce or replace, will be the final stage of evolution of money. Cryptocurrency can not be its final stage. At first we have food, beads, then gold, later we had paper money, followed by electronic fiat, then we have crypto. Payment methods will keep evolving.

Alisha FR

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We cannot say that cryptocurrency is the end of the evolution of money. We can't imagine how advanced the technology will be in the future. However, until now cryptocurrency is still valid as a digital currency and can be used to make buying and selling goods. And crypto has the potential to replace fiat too. It's just that until now it is not easy to apply it to all corners of the region. Crypto has a place digitally, but not everyone can use digital well, citing network limitations or the tools they use.

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Quote from: Rruchi man on April 11, 2022, 07:36:23 AM

I don't know if perhaps i'm overthinking this, but considering the evolution of money from the beginning of time where different things have served as a medium of exchange and now currently banknotes.

On same trend, we are slowly witnessing the evolution of money to crypto and i can't help but wonder if crypto is the final stage or there may perhaps be another revolutionary idea to replace crypto as money after crypto has been accepted.

What do you think?

you're talking about the future that can't be predicted correctly and about evolution that will definitely happen over a long time as has happened recently. from the barter era to the era of coins and paper that we have been doing and now we have entered the digital era with the concept of exchanging or paying with crypto. so in my opinion, when crypto has been accepted by the world and there is a possibility of a big turmoil that can trigger new thoughts to overcome the world crisis, a new evolution of legal payments will be born.

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The world in all aspect is going through evolution because evolution is change and change is not static. The use of money has witnessed different forms from trade by barter, cowries to notes and infact different countries have had to rebrand their notes by making different new inscription and changes on them. It will continue to change and like you said, it looks like cryptocurrency is coming into the space taking the use of money digital. If this eventually happens, nothing is static, another wave of evolution is likely to take over in another modification.

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This question has no answer today. It will take a long time for us to understand what is happening with the cryptocurrency and what methods of payment for goods will be in demand in the future. Today we see that the world we are used to is changing and no one knows what these changes will be. I prefer not to think about what will happen in the future, soon we will see what will change now.

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Whatever you say, I don't think it's time yet. Yes, the evolution of human money or wealth has evolved over time. But I don't think cryptocurrency has reached such a stage yet that it can be used against money. yes, you can say that we are near to this stage. But there is still a long way to go

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Quote from: bakasabo on April 11, 2022, 09:43:21 AM

I dont think that cryptocurrency is a final stage of evolution. I believe that thousand, maybe ten thousand years will pass or something will happen with the Earth, when people would realize there is something more valuable than money.

Has anyone seen movie "In time"? There, people use time or life span as a payment method. Since we havent created a potion immortality, time might be one of future or final stage of evolution of money.

I saw the movie, the time zone they've had there is already a vulnerability and anyone can snatch time from someone else wrist. Seem not a very possible way to implement currency but sure TIME is valuable. We can never turn back time so that's very valuable. In the movie, anyone dies when thier time is over.

TIME can not be a currency. Chrono.Tech TIME has it already though which is this https://coinmarketcap.com/currencies/chrono-tech/
As far as I know, they have plans for TIME to be the fee for employees, I have no idea what happen to this project anymore.

I'm not gonna be around when something will exist to become a currency but maybe Elon can shower us some meteorites on earth and be it a currency one day.

bakasabo

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I dont think that cryptocurrency is a final stage of evolution. I believe that thousand, maybe ten thousand years will pass or something will happen with the Earth, when people would realize there is something more valuable than money.

Has anyone seen movie "In time"? There, people use time or life span as a payment method. Since we havent created a potion immortality, time might be one of future or final stage of evolution of money.

DrBeer

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Quote from: Rruchi man on April 11, 2022, 07:36:23 AM

I don't know if perhaps i'm overthinking this, but considering the evolution of money from the beginning of time where different things have served as a medium of exchange and now currently banknotes.

On same trend, we are slowly witnessing the evolution of money to crypto and i can't help but wonder if crypto is the final stage or there may perhaps be another revolutionary idea to replace crypto as money after crypto has been accepted.

What do you think?

Well, why the last stage of evolution? I think when electronic, non-cash payments appeared, everyone said "ooh, well, that's the ultimate dream! All this is the limit!"

Although until recently, everyone exchanged mugs made of some metals, and shortly before that, cowrie shells.
I think that this is not the last stage. Moreover, we are now talking about a technological evolutionary step. And it seems to me that the next stage will no longer be connected with technology, but with the very concept of money as such. Perhaps this will be a real unification of means of payment / systems, systems for assessing the value of other assets, while it will be tied to a person, for example, using a genetic code as an analogue of a key.

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Your inquiry/question does not have an exact answer, at least just yet. For example when trade by barter was the medium of exchange, no one knew what was coming next to replace, supplement or act as an alternative to it, but something else did (commodity money). It is the same scenario now, cryptocurrencies are quite popular nowadays, but they are yet to even be completely adopted as a medium of exchange (even if they actually are). Thus my point is basically this, as the world continues to advance technologically, there is no way one can predict/say that this present crypto stage would be the last in the evolution of money/medium of exchange, something else would definitely surface down the line, but its level of success is what i can't predict at this very time.

Topic: Is crypto the final stage in the evolution of money? - page 6. (Read 711 times)