Topic: The Future of Bitcoin in a Cashless Society - page 4. (Read 581 times)

i don't agree with the analogy you said that bitcoin is digital gold, bitcoin is different compared to digital gold because bitcoin is an innovative and decentralized payment system introduced by satoshi. meanwhile, digital gold is a centralized product issued by several companies for easy investment in gold.

and discussing the use of bitcoin in today's society, adoption has begun to increase, but people are still reluctant to use it for daily transactions because the fees are quite high. even though there is a way to overcome this by using the lightning network, people still believe in using the main bitcoin network.

moreover, government regulations hinder the adoption of bitcoin in society, which makes the adoption of bitcoin in society not as massive as banking products.

Maybe in the future, we might have a situation in which Bitcoin will be used to pay for goods and services in every part of the world. But currently, it has not been used as a currency because the majority of people see it as an investment opportunity. The high transaction fees and the lack of requisite skills to set up a lighting network are also roadblocks to the use of Bitcoin for the payment of goods and services. Unfavorable government policies will also hinder this lofty dream of making Bitcoin widely used as a currency. I assume that Bitcoin still has a long way to go in its quest to become a widely used currency for financial transactions.


Many developed nations are moving towards a cashless society because they are technologically and educationally advanced. These nations have a high literacy rate and the requisite infrastructure to support a cashless policy. However, cash still dominates the financial system of developing nations. So we might see a gradual transcending from cash to a cashless society in many countries because for now, they are not ready to become cashless.

Paying with Bitcoin with cookies, coffees and other those types of same prices are possible through Lightning Network. But I am hoping that someday that it's gonna be actually possible for the actual Bitcoin network to process these transactions for having low fees. Other than that, I hate to say it but off chain transactions are going to be prevailed with these transactions if the owner of the shops have the exchanges account and you want to pay them with that method.

It's an ease for the payor if the payee is allowing transactions like that. But as long the fees are dropping down these days, I know and believe that someday we're going to see it back that transaction fees are going to be centavos again or even less than that. Right now, LN is the solution for these transactions but sadly, there are many merchants that don't know it yet and even payors or users, many of them aren't aware of it.

I believe that traditional currencies will not fade away anytime soon; they will continue to coexist with cryptocurrencies in the future of the mainstream financial payment system. The transition to a cashless society won't be a smooth ride. Bitcoin will need to cooperate with regulators, despite being one of the wildest ideas and theories. However, I am optimistic that Bitcoin, our beloved digital gold, has the potential to shine even brighter due to its unique advantages, such as transparency and security, which traditional banking systems struggle to match.
Will Bitcoin survive? It will undoubtedly leave its mark, regardless. Even if it doesn't become the undisputed king of cashless transactions, it will pave the way for a new financial landscape. While heading towards a cashless society, there are hurdles to overcome. Bitcoin needs to address scalability issues, transaction speed, and energy consumption. Regulatory clarity and widespread acceptance are crucial for Bitcoin to become a mainstream payment method. Who knows, it might happen or get closer to reality after a decade.
The speculation about the future of Bitcoin is uncertain; it could experience a significant surge to success, moon-shot to Mars, or face a drastic decline, crash landing in the Mariana Trench.

It’s already happening in countries where people are free to use Bitcoin. I have read several articles about shops accepting bitcoin as payment, this revealation also inspired me to accept Bitcoin in my store. The challenge is not businesses accepting Bitcoin as payment, but rather customers prefer to pay with fiat than spend their bitcoins. 


If this happens, then we will face a bigger centralization problem than we have ever seen. The government is not going to become pro-bitcoin, so if cash no longer exists, people will be forced to accept CBDCs.

It will be similar situation like what we have with books and newspaper. We can have them in a traditional paper format or in other modern formats like e-book, e-newspaper, digital file like pdf ...

There are people who love to read things on paper, not on a digital screen so companies will remain those paper products for customers. Surely they will get income and profit by selling products to customers.

With money, we have cash, digital currency transfer, Bitcoin, altcoins and even will have CBDCs in future but I believe the world will have all those currencies co-exist in future. There will be no cashless world.

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.

Bitcoin and bitcoin users definitely have an edge already when time comes that society becomes a cashless one using bitcoin will definitely have its advantages however right now it does not seem possible to adapt bitcoin as an everyday currency seeing that transaction fees are expensive and it is quite slow to get things processed because of the mempool being congested

If those issues were to be addressed then bitcoin will definitely shine in times where society would be using cashless systems

 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! 🌐✨