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Topic: The Future of Bitcoin in a Cashless Society (Read 577 times)

legendary
Activity: 3220
Merit: 1363
www.Crypto.Games: Multiple coins, multiple games
February 07, 2024, 06:11:20 PM
#69
Be realistic. Do you believe Bitcoin would help build a cashless society? Was it a Bitcoin goal? I don't think so. Because Bitcoin fees have become higher, and most likely, they will continue. For a long time, transaction fees have become unrealistic. We thought it would become normal after a few days, but it seems like nothing. Its true worls are moving to a cashless future, and many MFS services are helping with that. Bitcoin has become an investment opportunity. If transaction fees become lower, then Bitcoin would keep playing a role in making a cashless world.

I see what you mean. High fees are a problem that need to be solved if developers want people to use BTC as digital cash. Luckily, the Lightning Network (although still experimental) makes our life easier by providing cheaper fees and near-instant settlement times without compromising Bitcoin's security/decentralization. It's a short-term solution for those hesistant to leave their BTC in favor of another cryptocurrency.

With increasing adoption for BTC worldwide, it's very likely it will be used alongside CBDCs in the future. That's assuming it stays decentralized and censorship-resistant. These are uncertain times we're living into, so lets hope for the best. Smiley
hero member
Activity: 2828
Merit: 518
February 07, 2024, 02:13:10 AM
#68

Imagine a world where your grandma pays for cookies with BTC - wild, right? 🍪 Are we heading there or hitching a ride to a different destination?


We are heading there for sure but the road can be bumpy and there will be many distractions along they way which again am sure can make grandma a little bit dizzy so maybe I would prefer to deal with grandpa here. Now, seriously, being a payment system in a cashless society is one of the big vision for Bitcoin in a P2P setting but we know that for now there can be hiccups for this scenario to fully be effective. So am still so happy that am using BTC as a store of value because I am selfish and greedy too just like grandma...I would like to be rich and BTC can be the tool for me towards that direction.
It gradually adapted as a payment option, yet it took many years for its realization. For now, we are just at the beginning of its journey. Whether we like it or not, adoption never comes easily but be on the hard way due to some factors affecting it. Even using fiat money before has also come that way and much more in this cashless mode of payment.
Well, I guess we don't need to hurry because what we need is to have well-prepared individuals (elderly and young generations)and the legality of Bitcoin in the country.
member
Activity: 1218
Merit: 49
Binance #Smart World Global Token
February 07, 2024, 12:02:54 AM
#67

Imagine a world where your grandma pays for cookies with BTC - wild, right? 🍪 Are we heading there or hitching a ride to a different destination?


We are heading there for sure but the road can be bumpy and there will be many distractions along they way which again am sure can make grandma a little bit dizzy so maybe I would prefer to deal with grandpa here. Now, seriously, being a payment system in a cashless society is one of the big vision for Bitcoin in a P2P setting but we know that for now there can be hiccups for this scenario to fully be effective. So am still so happy that am using BTC as a store of value because I am selfish and greedy too just like grandma...I would like to be rich and BTC can be the tool for me towards that direction. By the way, are you my grandson?
sr. member
Activity: 1736
Merit: 306
February 06, 2024, 11:32:45 PM
#66
It is outrageous to believe that the Fiat would somedays be whipped off the surface of currencies existence.
The global acceptability of Bitcoin is a potential to enforcement that everyone must deal with.
Besides, Bitcoin is just an alternative means of transactions otherwise investment means too. So the possibilities of Bitcoin to outshine the local fiats could be evitable while the world powerful Fiat currencies are not undermined.

I believe that there is already an existence of certain individuals including societies who has the possible running of cashless as a policy and they are certainly comfortable with it. So Bitcoin would only succeed this if it is a dominance and has suppressed the usefulness of the fiat and then mandatedly a compulsory that everyone must adopt and then, the possibility measures as maybe imagine cashless trending while Bitcoin transactions is emerged as the only possible means of transactions would not be twarted.

It would definitely be disasterous because not everyone who are used to the internets including the electronic mobile devices talking more of adoptions with the system of crytop currencies formulas of transactions.
I smile over this because making this a success is to call the world back to a unifyable educations whether they are interested or not leaving them to live at their own risk of handling the currency at such sceneros Bitcoin is made the only financial transactions options.
It's unreal to believe and persuade people that the world will automatically swipe into a situation like that.Bitcoin is serving as an alternative to the fait system,whereby also creating an opportunity for users to access and operate in a comfortable manner.The world is digitalizing everyday around the future of digital currencies and financial technology.
  Bitcoin is accessible to everyone as it ensures a good and transparent network for its users that's why it will always remain a better financial choice.
legendary
Activity: 2282
Merit: 2196
Signature space for rent
February 06, 2024, 04:36:22 PM
#65
Be realistic. Do you believe Bitcoin would help build a cashless society? Was it a Bitcoin goal? I don't think so. Because Bitcoin fees have become higher, and most likely, they will continue. For a long time, transaction fees have become unrealistic. We thought it would become normal after a few days, but it seems like nothing. Its true worls are moving to a cashless future, and many MFS services are helping with that. Bitcoin has become an investment opportunity. If transaction fees become lower, then Bitcoin would keep playing a role in making a cashless world.
member
Activity: 519
Merit: 12
February 06, 2024, 03:50:17 PM
#64
That's a gradually process, because Bitcoin usage deal with educated people, which the young once in the society are growing big, while few of the elder once are getting old as the case may be, in which the young society we enjoyed the new policy in the near future of cashless and almost every body will be used to Bitcoin calculation based on the country exchange rate conversion as a means of payment, in which Bitcoin is also created as means of goods and services.
legendary
Activity: 3220
Merit: 1363
www.Crypto.Games: Multiple coins, multiple games
February 06, 2024, 02:52:29 PM
#63
OMG... everything I think is contained in your writing. If I keep it simple, paper money will disappear replaced by digital culture or cashlesh. Bitcoin has a chance to compete with digital FIAT, but ETFs limit Bitcoin's flexibility as a decentralized asset. What I see is that it is difficult for Bitcoin to reach the top as the king of currencies, it will never happen as long as there are still many centralized agencies interfering in the international currency industry.

Even though the world needs cryptocurrencies, CBDC will be the first to become the choice of the global elite. My hope is that Bitcoin should remain decentralized forever.

Companies "ruined" BTC, the same way they "ruined" the Internet. What started as a decentralized system, turned out to become centralized due to huge economic interests from the government and corporate sector. We can never expect BTC to become the cornerstone of a "cashless society" this way. Especially when it's often viewed by many as a store of value than a real currency.

I believe CBDCs will be the ones that will "rule the world". Once governments roll out their agenda of a "global reset", paper money will be gone for good. Who knows what the future holds for our society?
hero member
Activity: 2408
Merit: 584
February 06, 2024, 10:22:23 AM
#62
We are heading towards a world where cash is mostly gone, at least in the countries that are called now "developed". Cash is not replaced by crypto but by CBDC. Each CBDC transaction is monitored closely by automated systems as part of wide government efforts to control their citizens.

Crypto's role has been reduced to financial instruments like ETF and various derivatives that are used to trade under government control on heavily KYCed centralized exchanges. Movement of real crypto outside of the centralized exchanges is discouraged and can bring the user unwanted government attention in the form of various audits from the tax authorities and other government agencies. After all only criminals use crypto outside of the government-approved exchanges, so the moment their KYCed customer tries to move his crypto into a self-hosted wallet, the automated systems know that there is something fishy going on.

In most countries privacy coins have either been directly prohibited or usage of privacy coins is made impossible in more indirect fashion by special laws by requiring KYC for every transaction of privacy coins making their use pointless unless the user is willing to break the law.

That is the direction we are headed.
Couldn't agree more. People today are happy that governments and institutions are supporting Bitcoin and cryptocurrencies which is why they are creating ETFs and getting them approved but they don't realize that it's all a part of a bigger plan that we aren't able to see and understand just yet but when time comes, we will realize that it wasn't done for us or our benefit nor was it done to push the adoption level but it was all done to make us believe that they are supporting it.

When it's time, they will enforce their CBDCs on us by saying that they have supported cryptocurrencies because of us, and now we will have to use the CBDCs as well and that is when it will all begin, and then even if we move towards a cashless world, the currencies used won't be cryptocurrencies but CBDCs.
member
Activity: 182
Merit: 47
February 06, 2024, 03:10:49 AM
#61
Bitcoin will not have any part to play in the future cashless society that it's not already playing in today's some-cash society.

Bitcoin is not a currency in the sense of being a medium that can be used for ubiquitous transfers of value: transactions are far too slow and expensive for that purpose. World-wide credit card volume alone peaks in the millions of transactions per second which no blockchain architecture--even a centralized one--could ever come close to achieving.

(If you want to see what an actual technical solution looks like for this sort of volume, check out the Haypenny whitepaper).

I believe that physical cash will be eradicated from our society within 20 years or less, but cryptocurrency will have nothing to do with that.



hero member
Activity: 1470
Merit: 555
dont be greedy
February 06, 2024, 12:21:57 AM
#60
Bitcoin's future is uncertain. It could either become the cornerstone of a cashless society or become a failed experiment in the long run. "Wall Street" now owns Bitcoin, so it's likely big investment companies will destroy its true value proposition in the future. I'm talking about Bitcoin becoming a centralized cryptocurrency manipulated by the "Elite" and mainstream governments. Perhaps, it will become the "One World Currency" many were talking about. If it doesn't, then CBDCs (Central Bank Digital Currencies) will be the ones that will "rule the world".

I'm certain a cashless society will happen one way or another. After all, the world is transitioning to the digital era at a very fast pace. The COVID-19 pandemic just accelerated digital payments adoption worldwide. Who uses cash (paper money) these days? I'd be surprised if 10-20 years from now, our society hasn't fully transitioned to a cashless one. Hopefully, BTC stays decentralized for as long as it lives. Just my thoughts Grin
OMG... everything I think is contained in your writing. If I keep it simple, paper money will disappear replaced by digital culture or cashlesh. Bitcoin has a chance to compete with digital FIAT, but ETFs limit Bitcoin's flexibility as a decentralized asset. What I see is that it is difficult for Bitcoin to reach the top as the king of currencies, it will never happen as long as there are still many centralized agencies interfering in the international currency industry.

Even though the world needs cryptocurrencies, CBDC will be the first to become the choice of the global elite. My hope is that Bitcoin should remain decentralized forever.
legendary
Activity: 3220
Merit: 1363
www.Crypto.Games: Multiple coins, multiple games
February 05, 2024, 07:57:45 PM
#59
BTC
Hey, fellow Bitcointalkers! 🚀 Let's hop on the crypto rollercoaster and talk about the future of Bitcoin in a cashless society. 💸 Will our favorite digital gold shine even brighter, or will it face some turbulence? Strap in, no financial advice here – just enthusiasts sharing thoughts. Imagine a world where your grandma pays for cookies with BTC - wild, right? 🍪 Are we heading there or hitching a ride to a different destination? Dive into your crypto crystal ball and let's speculate on the fate of Bitcoin in this cashless adventure. What's your take on its survival skills in a world where cash is as ancient as floppy disks? Share your wild, unfiltered ideas! 🌐✨

Bitcoin's future is uncertain. It could either become the cornerstone of a cashless society or become a failed experiment in the long run. "Wall Street" now owns Bitcoin, so it's likely big investment companies will destroy its true value proposition in the future. I'm talking about Bitcoin becoming a centralized cryptocurrency manipulated by the "Elite" and mainstream governments. Perhaps, it will become the "One World Currency" many were talking about. If it doesn't, then CBDCs (Central Bank Digital Currencies) will be the ones that will "rule the world".

I'm certain a cashless society will happen one way or another. After all, the world is transitioning to the digital era at a very fast pace. The COVID-19 pandemic just accelerated digital payments adoption worldwide. Who uses cash (paper money) these days? I'd be surprised if 10-20 years from now, our society hasn't fully transitioned to a cashless one. Hopefully, BTC stays decentralized for as long as it lives. Just my thoughts Grin
member
Activity: 224
Merit: 11
Tontogether | Save Smart & Win Big
February 05, 2024, 01:35:06 PM
#58
We have now entered a largely castleless world. At present, many people have entered the cashless mode, which facilitates transactions through fiat money cards and online apps.
However, Bitcoin can take us to a completely cashless world. Because having wealth in it means owning your own bank. However, we cannot go to a completely cashless society so easily. Moreover, much depends on how much you value privacy over national security and safety.
full member
Activity: 146
Merit: 132
Metal Seed Phrase at the lowest price! From 44.99
February 04, 2024, 01:11:57 PM
#57
My guess is that in a few years it will be quite expensive to use bitcoin on chain, and the majority of people will end up using some sort of custodial solution, using BTC only on second or third layers
sr. member
Activity: 2338
Merit: 365
February 04, 2024, 12:50:49 PM
#56
Due to technological development we are moving towards a cashless society day by day. As currently fiat money can be carried through various banks and apps. No need to carry cash. Also, carrying a large amount of cash with you is very unsafe as it may get lost or stolen at any time. But there is no problem if you move with money in digital system. Perhaps in the future we will see Bitcoin give birth to a universally accepted digital currency cashless society.

bitcoin will not possibly give birth to coins or other new tokens to be accepted in a cashless society lol anyways bitcoin is better to stay as it is now.
With the emergence of Bitcoin, the real cashless era has just begun, apart from that there are many benefits that can be gained if cashless is adopted, wood for printing money will no longer be used, automatically the environment will continue to be protected.
Apart from that, it is important to adopt Bitcoin in the future, the goal is so that all transactions occur transparently and are not covered up.
sr. member
Activity: 840
Merit: 292
February 04, 2024, 12:38:53 PM
#55
First of all, I don't think the world is moving toward a cashless society. Some countries certainly are, but many are very far from it, and some are actively resisting it. So it's not just a matter of technological advancement. Countries like Italy are advanced enough, but just don't want to get rid of cash, and there is a similar situation with Germany.
But let's imagine all the obstacles are gone, and we are moving toward a cashless society. The way I see it, there are two different ways of getting there. One is cashless, but dominated by centralized structures like banks and corporations. In that case, Bitcoin doesn't play a major role. Another is cashless and decentralized, in which case Bitcoin can play a major role. It all depends on how much humanity will value privacy over national safety, security.

         -   Here in our country, apart from credit cards and other ATM cards, we also have local wallets that we can use to pay for groceries and other merchants that accept them. But when it comes to cashless cryptocurrency or decentralized, it's not that obvious yet.

Maybe it will take a few more years before it happens that most business establishments will accept Bitcoin or digital payment like we are in this industry field.
member
Activity: 322
Merit: 11
Tontogether | Save Smart & Win Big
February 04, 2024, 12:09:53 PM
#54
Due to technological development we are moving towards a cashless society day by day. As currently fiat money can be carried through various banks and apps. No need to carry cash. Also, carrying a large amount of cash with you is very unsafe as it may get lost or stolen at any time. But there is no problem if you move with money in digital system. Perhaps in the future we will see Bitcoin give birth to a universally accepted digital currency cashless society.
full member
Activity: 182
Merit: 120
February 04, 2024, 10:50:00 AM
#53
If you think this will happen sooner or later then surprising how people still use bitcoin for transaction purpose so this should not be something new cause I have actually seen people pay with bitcoin, even with this idea it doesn't necessary mean people should abandon using fiat cause a lot of bitcoin enthusiasts choose to hold bitcoin for investment purpose etc. Op, your idea is great but you should deviate this idea to something else not fiat and bitcoin, there's no comparison so let's not make a big deal from this.
I will prefer to store my bitcoin rather than using it for transaction purpose to buy food stuffs, I read a similar topic here and the op was criticizing a tenant who used bitcoin as means of paying rent instead of storing it, to be sincere in as much as we need the adoption of bitcoin to increase this is not the right way to do such. Don't even dream of a cashless society cause a lot of people will find other alternative.
sr. member
Activity: 658
Merit: 280
February 04, 2024, 12:10:06 AM
#52
In the society you live in, you will find people who will be critical of Bitcoin and those who will say something positive about Bitcoin. Those who criticize are not only criticizing Bitcoin but all good works are being criticized. Do you think such a popular digital currency as Bitcoin will not be popular with some critics? Those who criticize such thinking are wrong, they have been criticizing before, but they did not stand in the way of Bitcoin's progress. Ever since it came into the Bitcoin market people are adopting it and day by day the popularity of Bitcoin is increasing and new users are getting aware of Bitcoin and getting involved with Bitcoin. 
Various major companies are now buying bitcoins and many companies are also facilitating the use of bitcoins to buy and sell their products. These factors are definitely positive for Bitcoin and these positive aspects will continue to increase in the future and this coin will become more popular in the future.
sr. member
Activity: 2184
Merit: 251
SOL.BIOKRIPT.COM
February 03, 2024, 11:52:51 PM
#51
Hey, fellow Bitcointalkers! 🚀 Let's hop on the crypto rollercoaster and talk about the future of Bitcoin in a cashless society. 💸 Will our favorite digital gold shine even brighter, or will it face some turbulence? Strap in, no financial advice here – just enthusiasts sharing thoughts. Imagine a world where your grandma pays for cookies with BTC - wild, right? 🍪 Are we heading there or hitching a ride to a different destination? Dive into your crypto crystal ball and let's speculate on the fate of Bitcoin in this cashless adventure. What's your take on its survival skills in a world where cash is as ancient as floppy disks? Share your wild, unfiltered ideas! 🌐✨


A lot of countries want to develop their own digital currency because currency from paper is already outdated, I think Bitcoin will be most known as digital gold rather than payment because Bitcoin is very volatile. I saw lots of cases where many people complained about the huge fees when sending Bitcoin to other wallet, Bitcoin should have low fees to make it become handy as a payment. I hope everyone can have some Bitcoin/satoshi to keep as their future investment, we just going to see the fourth halving and now the Bitcoin price is around $40k, I can' imagine what price Bitcoin when we touch the tenth halving thought.   
sr. member
Activity: 350
Merit: 254
[btc] or nothing more 📈💹 up we go
February 03, 2024, 11:03:50 PM
#50
Hey, fellow Bitcointalkers! 🚀 Let's hop on the crypto rollercoaster and talk about the future of Bitcoin in a cashless society. 💸 Will our favorite digital gold shine even brighter, or will it face some turbulence? Strap in, no financial advice here – just enthusiasts sharing thoughts. Imagine a world where your grandma pays for cookies with BTC - wild, right? 🍪 Are we heading there or hitching a ride to a different destination? Dive into your crypto crystal ball and let's speculate on the fate of Bitcoin in this cashless adventure. What's your take on its survival skills in a world where cash is as ancient as floppy disks? Share your wild, unfiltered ideas! 🌐✨
Yes in time coming btc will virtually be used for every online transaction. We would go cashless but not %100 maybe %70 because illiteracy will be a barrier to many people.
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