Is the future going to belong to Bitcoin or Crypto-hybrid fiat currencies?

BitcoinHodler

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Quote from: 4new on October 26, 2017, 08:51:09 PM

With the slow and steady traction of governments transitioning into cryptocurrencies with their own version of it, will bitcoin lose momentum and slowly and silent lose its value over time?

unless bitcoin dies or in other words becomes absolutely useless, it can not lose its momentum or lose its value over long term. bitcoin will continue being adopted and become more and more useful.

now consider the scarcity of bitcoin which is defined by the fixed cap of 21 million, you will see how the price can only go up in the long term as more people adopt it but there is still the same amount of it available.

stompix

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Quote from: 4new on October 26, 2017, 08:51:09 PM

With the slow and steady traction of governments transitioning into cryptocurrencies with their own version of it, will bitcoin lose momentum and slowly and silent lose its value over time?

Simple...both.
Bitcoin will continue to be a decentralized global crypto where people will tend to take refuge to avoid having their savings frozen in some bank account or a shave till the guaranteed limit Cyprus style
And crypto fiat that fill take the place of digital fiat or will continue alongside.

There is enough space for both solutions just like in the past we had gold and cash then cash and digital and so on..

Bitcoin can't win against a government backed crypto and a government back crypto can't win against a global one.

JaredStein

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The future is going to belong to Bitcoin. Other cryptocurrencies will exist beneath it with their own identities tied to entities. Fiat currencies will disappear and instead they will try and inflate their own supply through crypto.

4new

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Quote from: BlackRacerX on October 27, 2017, 02:13:45 AM

Quote from: 4new on October 26, 2017, 08:51:09 PM

With the slow and steady traction of governments transitioning into cryptocurrencies with their own version of it, will bitcoin lose momentum and slowly and silent lose its value over time?

Nope. Not in a hundred years. Bitcoins are still landslidding the competition with how much it can bring to the market. If each country makes their own bitcoins, it'll be fiat money all over again. They'll start regulating theirs and others and then start massive cryptoexchanges around the world, defeating the purpose of bitcoins.

However, as the masses begin to enter the crypto-universe, one must note, that they do not share the nature or the passion of the original crypto-enthusiasts in bitcoin. They are simply viewing the path to least resistance. And the greater the inflow of people, the more current bitcoin holders, may need to conform to the changing tides.

BlackRacerX

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Quote from: 4new on October 26, 2017, 08:51:09 PM

With the slow and steady traction of governments transitioning into cryptocurrencies with their own version of it, will bitcoin lose momentum and slowly and silent lose its value over time?

Nope. Not in a hundred years. Bitcoins are still landslidding the competition with how much it can bring to the market. If each country makes their own bitcoins, it'll be fiat money all over again. They'll start regulating theirs and others and then start massive cryptoexchanges around the world, defeating the purpose of bitcoins.

sportis

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Quote from: maydna on October 26, 2017, 09:29:13 PM

Quote from: jseverson on October 26, 2017, 09:21:22 PM

Crypto-hybrid fiat currencies are definitely going to be part of the future going forward, but so will Bitcoin. The way Bitcoin currently is, it will not be able to compete with crypto fiat because of the issues with transactions times and transaction costs. These crypto fiat don't exist yet, so they have all the room in the world to be able to solve these issues to truly compete with Bitcoin. Bitcoin isn't ideal for small transactions at the moment after all. Bitcoin will lose in that sense. If you look at Bitcoin though, you'll see that it really isn't being used as a currency too much, but rather as an investment and storage of value. There's no way crypto fiat can compete with Bitcoin in this respect. That would mean that they have different niches, and can coexist alongside each other.

so we can see in future, there will be two type of currency that available in internet, one from the government and the other one is bitcoin. i think people can see which want is better to be used and the other currency can be like an investment. i agree that bitcoin isn't ideal for small transactions because the price is too volatile and i think there will be some adjustment for bitcoin if bitcoin wants to used as a new currency for transaction in offline and online. and yes bitcoin can compete with the crypto-hybrid fiat currencies to makes people to choose which want they want to used.

As I see it in the future people will have a wallet with many currencies and will use any of them according their needs. For example bitcoin for big transactions and litecoin or something similar for rest ones

albert11

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It is also possible to happen. But today it looks like it has not happened yet. Because we see the continuing adoption of the country in crypto especially in bitcoins. That will result in higher prices. That's where bitcoins are still being established. Every day there are news, Sometimes it's bad, Sometimes it's good but it's just more worthwhile because it indicates that bitcoins are solid and have the potential to replace the money circulating right now on the world. The world is now wrapped up in evil and if we do not deny that it will be a big obstacle to us.

So now get bitcoins and thank when the right time is come.

Kakmakr

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Bitcoin is built on trust and a open consensus decision making model, where the public decide what will change. If the majority of the public decide that the Coin Cap must be increased in the protocol, then it will be done. These "private" Blockchains are very different in many ways. < Centralized decisions will determine the value and the changes in the protocol and the public will have no say in this > If they decide to increase the Coin Cap, then it will be done. < This will devalue the currency, because they will increase the total supply>

I do not trust these governments and the Banks, so why would I want to buy their coins? < They will probably force you >

christian07

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I think we already experience future here because bitcoin is 10 years or more now base in history even it will gone now some person is already rich coming the earnings here in bitcoin so if you think negative in bitcoin no one will believe in you because we already have future here

maydna

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Quote from: jseverson on October 26, 2017, 09:21:22 PM

Crypto-hybrid fiat currencies are definitely going to be part of the future going forward, but so will Bitcoin. The way Bitcoin currently is, it will not be able to compete with crypto fiat because of the issues with transactions times and transaction costs. These crypto fiat don't exist yet, so they have all the room in the world to be able to solve these issues to truly compete with Bitcoin. Bitcoin isn't ideal for small transactions at the moment after all. Bitcoin will lose in that sense. If you look at Bitcoin though, you'll see that it really isn't being used as a currency too much, but rather as an investment and storage of value. There's no way crypto fiat can compete with Bitcoin in this respect. That would mean that they have different niches, and can coexist alongside each other.

so we can see in future, there will be two type of currency that available in internet, one from the government and the other one is bitcoin. i think people can see which want is better to be used and the other currency can be like an investment. i agree that bitcoin isn't ideal for small transactions because the price is too volatile and i think there will be some adjustment for bitcoin if bitcoin wants to used as a new currency for transaction in offline and online. and yes bitcoin can compete with the crypto-hybrid fiat currencies to makes people to choose which want they want to used.

jseverson

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Crypto-hybrid fiat currencies are definitely going to be part of the future going forward, but so will Bitcoin. The way Bitcoin currently is, it will not be able to compete with crypto fiat because of the issues with transactions times and transaction costs. These crypto fiat don't exist yet, so they have all the room in the world to be able to solve these issues to truly compete with Bitcoin. Bitcoin isn't ideal for small transactions at the moment after all. Bitcoin will lose in that sense. If you look at Bitcoin though, you'll see that it really isn't being used as a currency too much, but rather as an investment and storage of value. There's no way crypto fiat can compete with Bitcoin in this respect. That would mean that they have different niches, and can coexist alongside each other.

4new

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While I understand why Bitcoin may always remain in demand given that it is the original cryptocurrency, however, given that crypto/fiat hybrid currencies are representative of governments, would have the ability to impose upon masses and entire nations rules and regulations that must be abided. Consequently, widespread acceptance could be forced onto the masses diluting the Bitcoin over time.

Carmen01

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Quote from: 4new on October 26, 2017, 08:51:09 PM

With the slow and steady traction of governments transitioning into cryptocurrencies with their own version of it, will bitcoin lose momentum and slowly and silent lose its value over time?

yes it can be happen but a lot of people will be against in that because bitcoin brings so much conveniece so i think it can be low but never been lose value see the history or base in history here there so many country leave and join here in bitcoin so even the currency will not authorized in some country there so many also authorized this bitcoin

RGBKey

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I doubt it. I don't think government backed coins will ever be a "thing".

Andre_Goldman

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4new

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With the slow and steady traction of governments transitioning into cryptocurrencies with their own version of it, will bitcoin lose momentum and slowly and silent lose its value over time?

Topic: Is the future going to belong to Bitcoin or Crypto-hybrid fiat currencies? (Read 300 times)