Topic: The future of Bitcoin as digital currency - page 3. (Read 1206 times)
Bitcoin is considered to have a promising future as a digital currency. The decentralized nature of Bitcoin is built on blockchain technology that provides a level of transparency and security. What is not inside traditional currency. Bitcoin has micro-transaction facilities, technological development, aims to address scalability issues. However, some problems with cryptocurrency remain. As not all countries have legalized it yet.
For the government it would be perfect to have an economy that only runs on a digital currency, as long as the state has the monopoly and full control over the money supply of that digital currency.
You can transfer value in any number of ways besides your country's sovereign currency. People trade stocks, they trade items on eBay, they trade jewelry, etc. Every business contract is essentially a trade of value.
There's no way any government could have a "monopoly" over this. (And Bitcoin is just one more means of trading among thousand of other ways).
And Bitcoin wouldn't change a government's ability to run deficits (?)...
But the way we can achieve more of the dream is when bitcoin freedom is
Intact and when are able to save bitcoin for our future and our family.thats what bitcoin is all about.
I am with you on this one and in a perfect world the technology that does the most good for the majority of people would be adopted without any issues. Unfortunately we don't live in a perfect world and the government had different goals that the average person living in that country. For the government it would be perfect to have an economy that only runs on a digital currency, as long as the state has the monopoly and full control over the money supply of that digital currency. Transactions are being processed instantly and no more chances to operate outside of the reach of the government. Tax evasion would be something of the past and the government would able to enforce all their new laws without problems. Which is probably why we are not going to transfer to a digital currency only world any time soon. Citizens are never going to give up all their cash rights freely and would probably rebel against a party that would try to change it. For the citizen it would be interesting to switch to an independent crypto economy, but the politicians would never accept moving to a digital currency where they have no control over the money supply, as they wouldn't be able to run constant budget deficits.
Your viewpoint aligns with the ideological foundations of Bitcoin as a decentralized, borderless, and censorship-resistant currency, promoting the idea of financial inclusivity and self-sovereignty.
Wouldn't physical cash be more censorship-resistant since Bitcoin has a public ledger that allows authorities to potentially trace transactions?
Bitcoin, being a digital medium, can be traced by governments, as we've seen them do quite often in the past few years.
Meanwhile, tons (literally, thousands of physical pounds) of cash gets moved around by criminals all of the world without any government knowing anything about it. I suspect if you asked any oppressive government in the world whether they'd like their dissenters transacting in bitcoin or physical cash, they'd choose bitcoin.
I get the arguments that the US dollar could crash in value, but the subject here was about censorship, not value store.
-snip-
I honestly couldn't have said it any better. While it is true that there are unquestionable advantages and abilities that Bitcoin can provide to various states and counties that legalize its use, we can't also ignore the fact that there are various factors that need to be considered here.Every country that legalizes bitcoin will gain benefits which will ultimately help the economy and state coffers. Taxes are one profit target that can be considered - while increased local economic turnover in various business sectors can also be expected.
Moreover, reiterating what you have stated it is without a doubt true that different countries run different governments and regulations that are vital in making significant decisions or changes such as the legalization or acceptance of a different currency as it will prove to provide a significant change in the market and economy of the country as a whole. Hence, it should be considered that while legalizing Bitcoin may work for some, there is also a high probability that it will not work for others as differences and gaps exist.
Hmmm - the potential for adoption failure might be worth considering instead of just imagining success. However, the system can still be regulated as long as the government is always open to supporting change. They can get an idea of how other countries are doing - if there are obvious mistakes, then other countries can still correct them by not making the same mistakes.El Salvador is not as perfect as one might hope for in terms of adopting bitcoin as a legal currency - but all countries wishing to adopt bitcoin as a means of payment can use El Salvador as a benchmark for better adoption. In-depth research and openness to change must be a consideration if you want to adopt bitcoin as a legal means of payment – it must also be supported by all groups in society.
Your viewpoint aligns with the ideological foundations of Bitcoin as a decentralized, borderless, and censorship-resistant currency, promoting the idea of financial inclusivity and self-sovereignty.
Wouldn't physical cash be more censorship-resistant since Bitcoin has a public ledger that allows authorities to potentially trace transactions?
No government should prohibit the ownership of this technology
. I mean this is freedom money just like national value is freedom and bitcoin
Is the word dream money.
Someone very wise say if you're born poor you die poor and I quote
But with bitcoin if you're born poor and get education and you work hard you
Can be any thing you want.
But the way we can achieve more of the dream is when bitcoin freedom is
Intact and when are able to save bitcoin for our future and our family.thats what bitcoin is all about.
Your statement reflects a strong belief in the potential of Bitcoin as a means of financial freedom and opportunity, emphasizing its decentralization and potential to empower individuals regardless of their economic background. You're highlighting several key points:. I mean this is freedom money just like national value is freedom and bitcoin
Is the word dream money.
Someone very wise say if you're born poor you die poor and I quote
But with bitcoin if you're born poor and get education and you work hard you
Can be any thing you want.
But the way we can achieve more of the dream is when bitcoin freedom is
Intact and when are able to save bitcoin for our future and our family.thats what bitcoin is all about.
### 1. Freedom and Ownership
You advocate for the freedom to own and transact in Bitcoin without government prohibition, emphasizing that Bitcoin represents a form of "freedom money" akin to national values associated with freedom.
### 2. Financial Empowerment
You highlight Bitcoin's potential to break traditional economic barriers, suggesting that through education and hard work, individuals can improve their economic status, portraying Bitcoin as a tool that transcends socioeconomic limitations.
### 3. Future Financial Security
You express the importance of saving Bitcoin for the future, emphasizing its role in securing financial stability for oneself and future generations.
### 4. Bitcoin's Essence
You assert that Bitcoin's core essence lies in its ability to provide financial freedom, security, and opportunities to individuals who engage with it, making it more than just a digital currency.
Your viewpoint aligns with the ideological foundations of Bitcoin as a decentralized, borderless, and censorship-resistant currency, promoting the idea of financial inclusivity and self-sovereignty.
It's important to note that while many share this viewpoint, the regulatory landscape around Bitcoin varies globally, with different governments and regulatory bodies having varying stances and policies regarding its use, ownership, and regulation. Discussions around the regulatory framework of Bitcoin often involve complex considerations regarding financial systems, security, taxation, and consumer protection.
Advocating for Bitcoin's freedom aligns with the ethos of many within the cryptocurrency community, who believe in its potential to redefine financial systems, enhance financial inclusion, and provide individuals with greater control over their financial destinies.
I honestly couldn't have said it any better. While it is true that there are unquestionable advantages and abilities that Bitcoin can provide to various states and counties that legalize its use, we can't also ignore the fact that there are various factors that need to be considered here. Moreover, reiterating what you have stated it is without a doubt true that different countries run different governments and regulations that are vital in making significant decisions or changes such as the legalization or acceptance of a different currency as it will prove to provide a significant change in the market and economy of the country as a whole. Hence, it should be considered that while legalizing Bitcoin may work for some, there is also a high probability that it will not work for others as differences and gaps exist.
As much as I like bitcoin I just don't see how the poorer countries will adopt it with these high fee periods. Opening channels or splicing them can cost a days wage in some countries. 
True, everything can be changed with Bitcoin. I'm here in the world of crypto because I believe it will change my situation someday and I think majority of us think the same way. Bitcoin is a type of investment that have lesser risk but can make your investment double in just a short time. There are many things to be invested out there but Bitcoin is the best one, that's why they think Bitcoin is kinda scam. But if you study Bitcoin, you will learn how good it was, it's a game changer.
You are not completely right, although you have made a profit on your investment in bitcoin. If bitcoin does not have a big risk, then you can buy and store it wherever you want in any amount. But the fact is, the larger the amount of bitcoin you currently own, the better and safer your wallet and storage method can expect. That's the reality about risk, but whether the risk is small or large depends on how you use and store it.
If it's all about price, then price volatility should also be considered a risk. You cannot avoid a loss of value when the price of bitcoin falls, even if you are the holder. Bitcoin is a risky investment, if not then you are free to do so without any warning.
Higher volatility increase risk but we can take advantage on this since the profit potential is so high.
No government should prohibit the ownership of this technology
. I mean this is freedom money just like national value is freedom and bitcoin
Is the word dream money.
Someone very wise say if you're born poor you die poor and I quote
But with bitcoin if you're born poor and get education and you work hard you
Can be any thing you want.
But the way we can achieve more of the dream is when bitcoin freedom is
Intact and when are able to save bitcoin for our future and our family.thats what bitcoin is all about.
Bitcoin and other cryptocurrencies have gained significant popularity and attention in recent years. Many people believe that the underlying technology, blockchain, has the potential to revolutionize various industries. However, there are also concerns about regulatory issues, volatility, and security risks. It's essential to do thorough research and consult with experts, to make informed investment decisions. Bitcoin, like any other commodity in the market today, thrives only as long as people attach value to it. And just like any other commodity, the principles of demand and supply apply to it.. I mean this is freedom money just like national value is freedom and bitcoin
Is the word dream money.
Someone very wise say if you're born poor you die poor and I quote
But with bitcoin if you're born poor and get education and you work hard you
Can be any thing you want.
But the way we can achieve more of the dream is when bitcoin freedom is
Intact and when are able to save bitcoin for our future and our family.thats what bitcoin is all about.
There is almost a 100 percent chance that decentralized cryptocurrencies will be the most common form of money in the coming years. You have to understand that there are numerous advantages of a cryptocurrency over traditional fiat currency. Be it for business or personal use, it will create a revolution in the entire history of mankind, similar to what the internet did years ago. Needless to say, cryptocurrency is a wide door creating enormous possibilities for people to see.
Your viewpoint aligns with the ideological foundations of Bitcoin as a decentralized, borderless, and censorship-resistant currency, promoting the idea of financial inclusivity and self-sovereignty.
Wouldn't physical cash be more censorship-resistant since Bitcoin has a public ledger that allows authorities to potentially trace transactions?
Yes, place your country's fiscal assets in a highly volatile speculative instrument like bitcoin. What could go wrong?
Bitcoin is an independent currency as we all know and currently many transactions are completed by this currency. In many countries around the world, goods can be purchased with Bitcoin and payments are accepted through Bitcoin. However, there are many countries that do not believe in Bitcoin and are afraid to recognize this independent currency in their country, thinking that it will suffer economically. But we have seen that countries that have accepted Bitcoin as a currency have prospered and improved their financial position by investing in Bitcoin. El Salvador was the first country to accept Bitcoin by tender, and the country is currently far ahead economically, as it was reported a few days ago that the country made huge gains. So Bitcoin is an independent currency that always makes a profit, so any country that implements an acceptance will definitely be financially self-sufficient.
No government should prohibit the ownership of this technology
....
....
i agree that everyone has the right to be able to choose what is best for them, because that is part of human rights, but the reality is that the government has the power to limit the use of assets other than what they allow for the reason that it is to protect fiat and their banking products and prevent disruption to their economic system.
this has already happened in countries such as china, bangladesh, and several other countries, and it is very likely that other countries will follow them in banning bitcoin for economic reasons.
and whether you like it or not, you have to live with this fact that the government regulates what you can invest in or not. and you may choose to violate it, but there will definitely be consequences and if you are lucky you can avoid them or if not you could face a penalty.
It is really hard to imagine if majority of the countries in the world unites and ban the use of bitcoin, what would happen to bitcoin or whole cryptocurrency, if that scenario happened? I'm pretty sure it would be a chaos but people will still find ways to use it since we still have choices if that happened.
No government should prohibit the ownership of this technology
....
....
i agree that everyone has the right to be able to choose what is best for them, because that is part of human rights, but the reality is that the government has the power to limit the use of assets other than what they allow for the reason that it is to protect fiat and their banking products and prevent disruption to their economic system.
this has already happened in countries such as china, bangladesh, and several other countries, and it is very likely that other countries will follow them in banning bitcoin for economic reasons.
and whether you like it or not, you have to live with this fact that the government regulates what you can invest in or not. and you may choose to violate it, but there will definitely be consequences and if you are lucky you can avoid them or if not you could face a penalty.
True, everything can be changed with Bitcoin. I'm here in the world of crypto because I believe it will change my situation someday and I think majority of us think the same way. Bitcoin is a type of investment that have lesser risk but can make your investment double in just a short time. There are many things to be invested out there but Bitcoin is the best one, that's why they think Bitcoin is kinda scam. But if you study Bitcoin, you will learn how good it was, it's a game changer.
You are not completely right, although you have made a profit on your investment in bitcoin. If bitcoin does not have a big risk, then you can buy and store it wherever you want in any amount. But the fact is, the larger the amount of bitcoin you currently own, the better and safer your wallet and storage method can expect. That's the reality about risk, but whether the risk is small or large depends on how you use and store it.
If it's all about price, then price volatility should also be considered a risk. You cannot avoid a loss of value when the price of bitcoin falls, even if you are the holder. Bitcoin is a risky investment, if not then you are free to do so without any warning.
Someone very wise say if you're born poor you die poor and I quote
But with bitcoin if you're born poor and get education and you work hard you
Can be any thing you want.
It is not wise for people to say that if you are born poor you will die poor. The thoughts of wise people are not like that because people who want to try to do better will get it if they do it with confidence. Without trying, people cannot have Bitcoin because to get Bitcoin, someone has to do something to be able to buy it or buy a device that can be used to get Bitcoin, such as a mining device.But with bitcoin if you're born poor and get education and you work hard you
Can be any thing you want.
Bitcoin is the currency of freedom, I agree because the system does not make people constrained. The Bitcoin system makes it easy without third party interference.
I own Bitcoin, so I control Bitcoin because I hold the keys.
Folks, almost all people, in terms of numbers, invest in crypto using financial institutions that aren't that different than the ones you use to buy securities and other investments. They all have your name, your address, your government ID for taxes (e.g. Social Security Number), and so on. They make you pay taxes on your holdings just like any other holding, or if they haven't, its only because the technology is still new and the governments haven't gotten around to it yet.
I get that it's theoretically possible to buy and sell bitcoin without one of these institutions, but it would be nearly impossible to move your BTC into a currency you could spend on paying your bills like USD for instance.
In short, Bitcoin is, in actual practice, no different than AAPL or GOOG or whatever to almost all people who touch it. Maybe a good investment (if you think it's price will go up), but it's not some kind of revolution.
Cryptos are currently a speculation instrument and there's no sign they will ever be anything else.
NOT that that's a bad thing! The market cap of BTC shows just how much humans need a product like this.
But stop trying to imagine crypto is something it's not...
I get that it's theoretically possible to buy and sell bitcoin without one of these institutions, but it would be nearly impossible to move your BTC into a currency you could spend on paying your bills like USD for instance.
In short, Bitcoin is, in actual practice, no different than AAPL or GOOG or whatever to almost all people who touch it. Maybe a good investment (if you think it's price will go up), but it's not some kind of revolution.
Cryptos are currently a speculation instrument and there's no sign they will ever be anything else.
NOT that that's a bad thing! The market cap of BTC shows just how much humans need a product like this.
But stop trying to imagine crypto is something it's not...
As long as Bitcoin remains decentralized, the government can't stop its growth and market adoption. But when it talks about as a currency, that is still something uncertain and why? Whether we like it or not, the participation of the government becomes a major factor for its consideration. It didn't look good really but people got their trust when Bitcoin is officially declared as a legal tender in a particular place or a country. This is why I could say that the future of Bitcoin lies somehow in government support or overview otherwise, that will remain as an investment, not currency.
Has Bitcoin needed the support of the government to get to where it is today, the answer is no because Bitcoin didn't need the government instead the governments are looking for a way to regulate the industry in all countries. Few days ago Nigeria lifted it's ban on banks engage with cryptocurrency related activities and other countries are reducing their restriction on cryptocurrency and looking for a way they can regulate the industry.
Bitcoin don't need the government but the government needs Bitcoin because they know soon things won't be done the traditional way anymore but everything will be going digital.
Bitcoin doesn't need the governments to become a globally accepted currency but the government need Bitcoin so they won't be left out. Bitcoin is getting the world attention and soon Bitcoin will be accepted globally as an alternative to fiats for transaction which is what Bitcoin missions from the very begining was all about as it was introduced as a better alternative to fiats currency.
I believe Bitcoin's global acceptance is a paradigm leap in financial autonomy, not just a replacement for money. Countries need Bitcoin, not vice versa. They realise they must change or die. Bitcoin's disruptive power is shown by its regulatory scurry.
Bitcoin was created to give a decentralised financial alternative. Its leading the world into a new economic era, and governments must adapt. Bitcoin is the future, and the future is now.
No government should prohibit the ownership of this technology
. I mean this is freedom money just like national value is freedom and bitcoin
Is the word dream money.
Someone very wise say if you're born poor you die poor and I quote
But with bitcoin if you're born poor and get education and you work hard you
Can be any thing you want.
But the way we can achieve more of the dream is when bitcoin freedom is
Intact and when are able to save bitcoin for our future and our family.thats what bitcoin is all about.
. I mean this is freedom money just like national value is freedom and bitcoin
Is the word dream money.
Someone very wise say if you're born poor you die poor and I quote
But with bitcoin if you're born poor and get education and you work hard you
Can be any thing you want.
But the way we can achieve more of the dream is when bitcoin freedom is
Intact and when are able to save bitcoin for our future and our family.thats what bitcoin is all about.
Bitcoin means freedom, because I use bitcoin I am free, but we cannot use bitcoin freely because bitcoin is illegal in our country. But countries where Bitcoin is legal are using Bitcoin freely.
You mention hard work, but hard work has nothing to do with Bitcoin. But yes it is true that gaining knowledge is possible to improve Bitcoin, only a knowledgeable person can earn Bitcoin.
It is possible to earn bitcoins if you can invest in bitcoins. So now is the right time to invest in Bitcoin.
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