Bitcoin needs to work on developing technologies:
https://bitcointalksearch.org/topic/--1204912
Topic: The Death of Money (Read 2146 times)
Somehow despite everything people chose to ignore the fact that it is going to be the future one day. I wish when time goes by people will start realizing and see its benefit especially when you have banks freezing your money even if it belongs to you. Too bad adoption is still moving at a very slow rate.
Change is coming, slow is good, fast would be bad, because haste will make a lot of casualties along the way. We have time to ease out the flaws and make a system that is good for all, ease in use and stable. So slow it is, and we will get there in the end!
Money will eventually become obsolete in the full sense of it
Gee, I hope we don't go back to bartering.
I understand that this is a mot but someone could fear this situation. So for those I have the below explanation.
It is absolutely impossible. It was like someone which have discovered the richness or the good life and would want the poorness and the difficulties of the hard life. There may be someone who can love this change (and even apply it) but only one or two cannot have the power to impose their choice to the rest of the peoples. They will be seen as a strange by some and as a fools by some others. But no one will follow their choice.
Somehow despite everything people chose to ignore the fact that it is going to be the future one day. I wish when time goes by people will start realizing and see its benefit especially when you have banks freezing your money even if it belongs to you. Too bad adoption is still moving at a very slow rate.
That is what I'm pointing out: it's clear that we aren't ready to use any cryptocurrency on a daily basis. It would take time for us to cope up, but we would get there soon.
It will take some time for cryptocurrency to be popular.
It is already popular, it's just that the average people cannot fully comprehend on how does it really work. And I doubt if cryptos would really replace fiat. It can, but the question is how and when.
It does, but I still claim that the traditional money won't dissappear just like that. Older generation would never get used to only a digital currency. Do you know that in France still exist people that make all of the calculations from euros back to the francs? All of the prices are also shown in francs and in euros in stores.
Subsequently I think that the wave of the biggest change will be introduced by the banks and their private blockchains and private digital currencies!
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Bitcoin is the money of the future. The older generation will eventually die and the new generation will adopt it.
Don't forget that most of the world population doesn't use Internet. So in my opinion it would be a very bad thing if "physical" money will be forced to disappear. The best scenario is that it should be a free choice between digital and physical money, so that everyone would choose the better option by himself.
this site report that half the population are using internet http://www.internetworldstats.com/stats.htm
but from this value you must removed very young kid, and new born, which are quite a lot, so i would not say that the majrity are not using internet
and certainly this does not mean that they are not using some form of electronic paymen, you don't need internet to pay with credit card in a phisical shop...
Don't forget that most of the world population doesn't use Internet. So in my opinion it would be a very bad thing if "physical" money will be forced to disappear. The best scenario is that it should be a free choice between digital and physical money, so that everyone would choose the better option by himself.
Cryptocurrency will not dominate in many decades.
Don't forget that most of the world population doesn't use Internet. So in my opinion it would be a very bad thing if "physical" money will be forced to disappear. The best scenario is that it should be a free choice between digital and physical money, so that everyone would choose the better option by himself.
Nothing could ever replace fiat or physical money, not even bicoins. Not that I don't believe in bitcoins, I do but I think bitcoins needs a lot more time to fully reach it's full potential.
In the first sentence you say "nothing could ever", in the seconds you say "needs lot more time to reach full potential". Make your mind, is it never or someday when it reaches full potential? I say Bitcoin (or some other better cryptocurrency will slowly replace fiat money in the next 20-30 years. Why? Because, simply told, it's better in every aspect and naturally it must win.
I don't think that traditional money will die just like that. I think that people all over the world would be lost if that happens in the next 20 years. In a 100 years, this will probably happen.
Until then, blockchain tokens like Bitcoin will need to coexist with the traditional money. Is Bitcoin and money the future you asked? Most definitely in my opinion! Otherwise I wouldn't be here!
Until then, blockchain tokens like Bitcoin will need to coexist with the traditional money. Is Bitcoin and money the future you asked? Most definitely in my opinion! Otherwise I wouldn't be here!
Hyperinflation happens very fast so you never know. There are many example where you can see that.
It does, but I still claim that the traditional money won't dissappear just like that. Older generation would never get used to only a digital currency. Do you know that in France still exist people that make all of the calculations from euros back to the francs? All of the prices are also shown in francs and in euros in stores.
Subsequently I think that the wave of the biggest change will be introduced by the banks and their private blockchains and private digital currencies!
That is what I'm pointing out: it's clear that we aren't ready to use any cryptocurrency on a daily basis. It would take time for us to cope up, but we would get there soon.
It will take some time for cryptocurrency to be popular.
That is what I'm pointing out: it's clear that we aren't ready to use any cryptocurrency on a daily basis. It would take time for us to cope up, but we would get there soon.
You've mentioned science, and science would probably come along with a solution to that. Solar power is a thing now, and further developments with it could mean that we will have less reliance in fossil fuels and non-renewable enwrgy sources. Also, with mathematics we can come up with a rather secure form of money compared to its fiat counterpart. The only problem I see is how the masses would transit to virtual currency.
Small comparison: you can pay for everything everywhere with paper FIAT money. It will be accepted without problems. You don't need to have working smartphone, you don't need internet or any other network. It is just you your trading partner and money in this equation, it is simple.With bitcoin or any other virtual currency thing are getting complicated to the point that is not longer easy and fast to pay for something.
Small comparison? Would you want to be controlled to use your money or would you want freedom in spending or holding what you have? This is exactly the problem: people already give up on things that could probably change the future before trying it. Airplanes were once deemed as a lucrative idea but look ay where we are right now?
But society is not ready for 'cryptocurrency' revolution. I wish we were ready, I wish there was better technology to push bitcoin towards even niche adoption.
You've mentioned science, and science would probably come along with a solution to that. Solar power is a thing now, and further developments with it could mean that we will have less reliance in fossil fuels and non-renewable enwrgy sources. Also, with mathematics we can come up with a rather secure form of money compared to its fiat counterpart. The only problem I see is how the masses would transit to virtual currency.
Small comparison: you can pay for everything everywhere with paper FIAT money. It will be accepted without problems. You don't need to have working smartphone, you don't need internet or any other network. It is just you your trading partner and money in this equation, it is simple.With bitcoin or any other virtual currency thing are getting complicated to the point that is not longer easy and fast to pay for something.
Small comparison? Would you want to be controlled to use your money or would you want freedom in spending or holding what you have? This is exactly the problem: people already give up on things that could probably change the future before trying it. Airplanes were once deemed as a lucrative idea but look ay where we are right now?
You've mentioned science, and science would probably come along with a solution to that. Solar power is a thing now, and further developments with it could mean that we will have less reliance in fossil fuels and non-renewable enwrgy sources. Also, with mathematics we can come up with a rather secure form of money compared to its fiat counterpart. The only problem I see is how the masses would transit to virtual currency.
Small comparison: you can pay for everything everywhere with paper FIAT money. It will be accepted without problems. You don't need to have working smartphone, you don't need internet or any other network. It is just you your trading partner and money in this equation, it is simple.With bitcoin or any other virtual currency thing are getting complicated to the point that is not longer easy and fast to pay for something.
For who says oh its stable I don't believe it anymore,expect a surprise when it halveshalves,you will be surprised
“Tangible money, old-fashioned money … is a phantom from the past, an anachronism. In its place is an entirely new form of money based not on metal or paper, but on technology, mathematics, and science. This new ‘megabyte’ money is creating a new and different world wherever it proceeds. Money now is an image.”
-snip-
There is huge problem with money 'created' by science, mathematics and existing only on technological plane of cyberspace.-snip-
They need POWER to be viable. That is making them simply not usable in certain situations. I doubt if we'll ever switch to 'virtual' currency without
solving this 'source of energy' problem.
You've mentioned science, and science would probably come along with a solution to that. Solar power is a thing now, and further developments with it could mean that we will have less reliance in fossil fuels and non-renewable enwrgy sources. Also, with mathematics we can come up with a rather secure form of money compared to its fiat counterpart. The only problem I see is how the masses would transit to virtual currency.
“Tangible money, old-fashioned money … is a phantom from the past, an anachronism. In its place is an entirely new form of money based not on metal or paper, but on technology, mathematics, and science. This new ‘megabyte’ money is creating a new and different world wherever it proceeds. Money now is an image.”
-snip-
There is huge problem with money 'created' by science, mathematics and existing only on technological plane of cyberspace.-snip-
They need POWER to be viable. That is making them simply not usable in certain situations. I doubt if we'll ever switch to 'virtual' currency without
solving this 'source of energy' problem.
Wouldn't you say that solar power would be the next source of power that would solve this problem? I could see the next big mining farm, incorporating a way to use solar panels for mining rigs. It would be expensive for the initial investment... but it will be one hell of a good one in the long run of things IMO.
Before bitcoins, money already existed in images and on-screen displays. 
Bank accounts that have billions of dollars on them exhibits only in digital space but not in the physical world we are in. Also, no limit in supply means inflation; bitcoin handles it with a fixed and diminishing supply. There is a lot of potential in an unregulated money compared to a money produced by and issued by the government. It's just that most people are still tied to using fiat that they couldn't part with it.
Bank accounts that have billions of dollars on them exhibits only in digital space but not in the physical world we are in. Also, no limit in supply means inflation; bitcoin handles it with a fixed and diminishing supply. There is a lot of potential in an unregulated money compared to a money produced by and issued by the government. It's just that most people are still tied to using fiat that they couldn't part with it. Jump to: