The Future of Money? - page 3. | Bitcointalksearch.org

Qartersa

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Quote from: mirakal on November 26, 2016, 02:39:36 AM

Quote from: Caladonian on November 26, 2016, 01:02:52 AM

Quote from: Zadicar on November 25, 2016, 10:58:09 PM

Quote from: hurain on November 25, 2016, 07:50:11 PM

Quote from: cjmoles on November 25, 2016, 04:53:13 PM

Quote from: Bitmate on November 25, 2016, 01:59:58 PM

Quote from: BlokF4No27 on November 24, 2016, 10:14:09 PM

One might say that bitcoin is one of the pioneers of the future money. With sophisticated systems I am confident future technologies will continue to develop the bitcoin.

I just hope the current developers can listen to the good advices from the community, otherwise it is bad for bitcoin.

I think that the direction the community is forcing the technology to pursue is heading in a different direction than the philosophy that triggered its development intended. The developers aren't the only entity responsible for guiding its course. I think that community greed guides its course more than was anticipated....Bitcoin came to being from the thinking that the internet had the potential to bring about social and political change....privacy, autonomy, and personal security were the primary motivations that triggered the movement....are those the primary motivations now? Or, is the primary motivation greed? We all share the "decentralized" responsibility here.

yes i am also agree with it, it can really be a fact that the interested of the people is now changing and in future they may be giving importance to online trading and shopping therefor bitcoin can be their first choice an it can really effect the fiat currency.

Its still really depends though on what people would refer regarding into this. We cant really avoid the fact the people will surely choose the most convenient and most accesible in terms of online transactions and other things which are commonly happen on online world. They could able to see the potential of bitcoin regarding with this but i think future of money(paper) will still exist no matter how big changes would have made.

for sure. local currency will not be replace in any aspects paper money still the most used currency
inside a country we cant change that in anyhow many things will need to discuss about that.

Paper money is very easy and simple to use, you cannot replace that with online online currency as majority of the population in this world are not yet into online, these people are already contented with paper money as it's convenient to them to transact at any time.

But I think you still have to consider that the world is moving away from paper to paperless transactions. If this would happen, then paper money also follow suit. You don't necessarily use bitcoins for online transactions (though you need internet for transactions in bitcoins). You can deal with someone in the real world and deal with him using bitcoins by transfering the BTC to his wallet and getting whatever you paid for in person or physically.

mirakal

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Quote from: Caladonian on November 26, 2016, 01:02:52 AM

Quote from: Zadicar on November 25, 2016, 10:58:09 PM

Quote from: hurain on November 25, 2016, 07:50:11 PM

Quote from: cjmoles on November 25, 2016, 04:53:13 PM

Quote from: Bitmate on November 25, 2016, 01:59:58 PM

Quote from: BlokF4No27 on November 24, 2016, 10:14:09 PM

One might say that bitcoin is one of the pioneers of the future money. With sophisticated systems I am confident future technologies will continue to develop the bitcoin.

I just hope the current developers can listen to the good advices from the community, otherwise it is bad for bitcoin.

I think that the direction the community is forcing the technology to pursue is heading in a different direction than the philosophy that triggered its development intended. The developers aren't the only entity responsible for guiding its course. I think that community greed guides its course more than was anticipated....Bitcoin came to being from the thinking that the internet had the potential to bring about social and political change....privacy, autonomy, and personal security were the primary motivations that triggered the movement....are those the primary motivations now? Or, is the primary motivation greed? We all share the "decentralized" responsibility here.

yes i am also agree with it, it can really be a fact that the interested of the people is now changing and in future they may be giving importance to online trading and shopping therefor bitcoin can be their first choice an it can really effect the fiat currency.

Its still really depends though on what people would refer regarding into this. We cant really avoid the fact the people will surely choose the most convenient and most accesible in terms of online transactions and other things which are commonly happen on online world. They could able to see the potential of bitcoin regarding with this but i think future of money(paper) will still exist no matter how big changes would have made.

for sure. local currency will not be replace in any aspects paper money still the most used currency
inside a country we cant change that in anyhow many things will need to discuss about that.

Paper money is very easy and simple to use, you cannot replace that with online online currency as majority of the population in this world are not yet into online, these people are already contented with paper money as it's convenient to them to transact at any time.

Caladonian

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Quote from: Zadicar on November 25, 2016, 10:58:09 PM

Quote from: hurain on November 25, 2016, 07:50:11 PM

Quote from: cjmoles on November 25, 2016, 04:53:13 PM

Quote from: Bitmate on November 25, 2016, 01:59:58 PM

Quote from: BlokF4No27 on November 24, 2016, 10:14:09 PM

One might say that bitcoin is one of the pioneers of the future money. With sophisticated systems I am confident future technologies will continue to develop the bitcoin.

I just hope the current developers can listen to the good advices from the community, otherwise it is bad for bitcoin.

I think that the direction the community is forcing the technology to pursue is heading in a different direction than the philosophy that triggered its development intended. The developers aren't the only entity responsible for guiding its course. I think that community greed guides its course more than was anticipated....Bitcoin came to being from the thinking that the internet had the potential to bring about social and political change....privacy, autonomy, and personal security were the primary motivations that triggered the movement....are those the primary motivations now? Or, is the primary motivation greed? We all share the "decentralized" responsibility here.

yes i am also agree with it, it can really be a fact that the interested of the people is now changing and in future they may be giving importance to online trading and shopping therefor bitcoin can be their first choice an it can really effect the fiat currency.

Its still really depends though on what people would refer regarding into this. We cant really avoid the fact the people will surely choose the most convenient and most accesible in terms of online transactions and other things which are commonly happen on online world. They could able to see the potential of bitcoin regarding with this but i think future of money(paper) will still exist no matter how big changes would have made.

for sure. local currency will not be replace in any aspects paper money still the most used currency
inside a country we cant change that in anyhow many things will need to discuss about that.

Zadicar

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Quote from: hurain on November 25, 2016, 07:50:11 PM

Quote from: cjmoles on November 25, 2016, 04:53:13 PM

Quote from: Bitmate on November 25, 2016, 01:59:58 PM

Quote from: BlokF4No27 on November 24, 2016, 10:14:09 PM

One might say that bitcoin is one of the pioneers of the future money. With sophisticated systems I am confident future technologies will continue to develop the bitcoin.

I just hope the current developers can listen to the good advices from the community, otherwise it is bad for bitcoin.

I think that the direction the community is forcing the technology to pursue is heading in a different direction than the philosophy that triggered its development intended. The developers aren't the only entity responsible for guiding its course. I think that community greed guides its course more than was anticipated....Bitcoin came to being from the thinking that the internet had the potential to bring about social and political change....privacy, autonomy, and personal security were the primary motivations that triggered the movement....are those the primary motivations now? Or, is the primary motivation greed? We all share the "decentralized" responsibility here.

yes i am also agree with it, it can really be a fact that the interested of the people is now changing and in future they may be giving importance to online trading and shopping therefor bitcoin can be their first choice an it can really effect the fiat currency.

Its still really depends though on what people would refer regarding into this. We cant really avoid the fact the people will surely choose the most convenient and most accesible in terms of online transactions and other things which are commonly happen on online world. They could able to see the potential of bitcoin regarding with this but i think future of money(paper) will still exist no matter how big changes would have made.

hurain

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Quote from: cjmoles on November 25, 2016, 04:53:13 PM

Quote from: Bitmate on November 25, 2016, 01:59:58 PM

Quote from: BlokF4No27 on November 24, 2016, 10:14:09 PM

One might say that bitcoin is one of the pioneers of the future money. With sophisticated systems I am confident future technologies will continue to develop the bitcoin.

I just hope the current developers can listen to the good advices from the community, otherwise it is bad for bitcoin.

I think that the direction the community is forcing the technology to pursue is heading in a different direction than the philosophy that triggered its development intended. The developers aren't the only entity responsible for guiding its course. I think that community greed guides its course more than was anticipated....Bitcoin came to being from the thinking that the internet had the potential to bring about social and political change....privacy, autonomy, and personal security were the primary motivations that triggered the movement....are those the primary motivations now? Or, is the primary motivation greed? We all share the "decentralized" responsibility here.

yes i am also agree with it, it can really be a fact that the interested of the people is now changing and in future they may be giving importance to online trading and shopping therefor bitcoin can be their first choice an it can really effect the fiat currency.

cjmoles

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Quote from: Bitmate on November 25, 2016, 01:59:58 PM

Quote from: BlokF4No27 on November 24, 2016, 10:14:09 PM

One might say that bitcoin is one of the pioneers of the future money. With sophisticated systems I am confident future technologies will continue to develop the bitcoin.

I just hope the current developers can listen to the good advices from the community, otherwise it is bad for bitcoin.

I think that the direction the community is forcing the technology to pursue is heading in a different direction than the philosophy that triggered its development intended. The developers aren't the only entity responsible for guiding its course. I think that community greed guides its course more than was anticipated....Bitcoin came to being from the thinking that the internet had the potential to bring about social and political change....privacy, autonomy, and personal security were the primary motivations that triggered the movement....are those the primary motivations now? Or, is the primary motivation greed? We all share the "decentralized" responsibility here.

Mario274

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Quote from: Bitmate on November 25, 2016, 01:59:58 PM

Quote from: BlokF4No27 on November 24, 2016, 10:14:09 PM

One might say that bitcoin is one of the pioneers of the future money. With sophisticated systems I am confident future technologies will continue to develop the bitcoin.

I just hope the current developers can listen to the good advices from the community, otherwise it is bad for bitcoin.

I also believe that Bitcoin is stable cryptocurrency. But I do not believe that it will replace the Fiat. The government will not allow

Bitmate

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Quote from: BlokF4No27 on November 24, 2016, 10:14:09 PM

One might say that bitcoin is one of the pioneers of the future money. With sophisticated systems I am confident future technologies will continue to develop the bitcoin.

I just hope the current developers can listen to the good advices from the community, otherwise it is bad for bitcoin.

BlokF4No27

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One might say that bitcoin is one of the pioneers of the future money. With sophisticated systems I am confident future technologies will continue to develop the bitcoin.

cjmoles

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Quote from: deisik on November 22, 2016, 04:21:39 PM

Quote from: funkenstein on November 22, 2016, 11:11:07 AM

Quote from: freedomgo on November 22, 2016, 04:27:27 AM

True that bitcoin can be a universal online currency but that will have to pass to the process to be able to attract people for adoption. It has not been regulated yet and maybe we should look on that first on how to treat that.

Not been regulated yet?? It's the most regulated type of currency in the world by a huge margin. Every money creation event and every transaction are public and audited by everyone. Regulations specify EXACTLY how much can be created, and when. Imagine trying to get fiat mongers to submit to this kind of regulation. Lol, right?

And this is exactly the reason why Bitcoin may not be suitable for real economy as an ultimate means of exchange

Since in real economy money should be created (and destroyed as well) based on the needs of the economy, and not according to some set in stone algorithm. I don't mean to say that fiat is ideal, but in exactly this respect it beats Bitcoin hands down. Whoever is going to challenge this point (and I guess there will be a lot of such), think first what is the primary function of money. And once you get to it, you may come to understand as well that the amount of money to fulfill this function in the most optimal way depends on the size of the economy, which is not fixed and may expand as easily as contract

I disagree. Our current fractional reserve systems simply "kick the ball down the road," so to speak. They manipulate value tremendously in ways which do not represent the true state of production. Bitcoin, on the other hand, is immutable and more closely correlated to the dynamics of "real world" commerce where the markets determine its value. Bitcoin's structure opposes fiat's structure, which is controlled by small groups of bankers who manipulate value with the sole intent of moving the markets to squeeze more wealth out of an unsuspecting population....bitcoin is the solution to the problems associated with fractional reserve banking....However, I don't think we're quite there yet....but, at the rate we're going, we will be there soon.

funkenstein

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Quote from: deisik on November 22, 2016, 04:21:39 PM

And this is exactly the reason why Bitcoin may not be suitable for real economy as an ultimate means of exchange

Since in real economy money should be created (and destroyed as well) based on the needs of the economy, and not according to some set in stone algorithm. I don't mean to say that fiat is ideal, but in exactly this respect it beats Bitcoin hands down. Whoever is going to challenge this point (and I guess there will be a lot of such), think first what is the primary function of money. And once you get to it, you may come to understand as well that the amount of money to fulfill this function in the most optimal way depends on the size of the economy, which is not fixed and may expand as easily as contract

This is rank nonsense.

If you are going to say "based on the needs of the economy I need the right to produce new currency and give it the people I feel like it"... then we are going to say, on what basis is it that you get to issue the new currency and not us? What if we don' t like your choice of when and where to issue the currency? Giving individuals the power to create new monetary tokens in private is pure idiocy. Look what happens. The well intentioned are quickly driven out by the "more practical folk".

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Quote from: arseaboy on November 23, 2016, 09:29:06 AM

Quote from: danherbias07 on November 22, 2016, 10:44:44 AM

Quote from: iamTom123 on November 22, 2016, 07:41:13 AM

Quote from: yayayo on October 24, 2016, 09:42:16 AM

The idea of central bank controlled cryptocoins has been around for a while. I fail to see that these coins pose any serious risk for the valuation of Bitcoin or precious metals and I don't think such a concept will be successful.

The reason for this is pretty simple: Even if such a coin is constructed under the umbrella of the IMF it still doesn't represent a real valuable asset, because it is subject to political influence. There are also many questions regarding its creation. For example how should the coin be mined - should every country mine its own stash or will there be fixed quotas allocated to each country? How would all countries of the IMF even be able to form a consensus?

An IMF coin will never constitute a real asset like gold or Bitcoin, because it's not functioning as a incorruptible natural resource. Instead an IMF coin would be some kind of "meta-fiat" used as backing for fiat.

ya.ya.yo!

I fully agree with this. When it is subject to the control and influence of a certain big institution, then can be a big problem as it is not offering what a decentralized cryptocurrency can offer. This is a central idea behind the success of Bitcoin and if you pulled it down then you have nothing at the end of the tunnel.

Satisfying thoughts which is true. Problem is if something is owned by someone there is a big possibility that someone could stain it. Even the owner itself could make evil works when he sees a big profit in it. That is why many are trying so hard to make an altcoin. A lot of money is into it unlike bitcoin.

Indeed mate.. and hopefully this would not happen in bitcoin community to get a full controlled by a certain institution like government or any private sectors because if it does definitely there would be a lot of changes for us and there would also some activities that can be more beneficial for them.

Ohhh benefits. They will sure love it. Creating chaos in their newly created coins just for their own good. This could be done with all those popping up alternative coins. That is why everything that is under control by someone is not good and there are a lot scattering out there.

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Quote from: diodio5 on November 24, 2016, 05:13:13 AM

Quote from: goldcoinminer on November 19, 2016, 04:14:40 AM

Quote from: jondeen707 on November 18, 2016, 11:15:22 AM

Not sure if it's brought up in this thread, but it may be that most governments are playing around with the bitcoin/blockchain technology just to get an idea of where the future of money is heading. I may as well be wrong about that.

We will know in the future, if the government will create theirs and they will have the similar system as bitcoin it does not guarantee that people will adopt, they are still centralized and people wants decentralized to have full freedom and privacy of their money.

I think of course it will be done by the government, seeing the success of bitcoin, they would make a similar digital currency bitcoin, but they will not be able to make decentralization

That's understood already as they are government and they want to control things. Therefore, even though they will create a bitcoin like technology we will still be stronger here due to that big hindrance which is centralization.

diodio5

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Quote from: goldcoinminer on November 19, 2016, 04:14:40 AM

Quote from: jondeen707 on November 18, 2016, 11:15:22 AM

Not sure if it's brought up in this thread, but it may be that most governments are playing around with the bitcoin/blockchain technology just to get an idea of where the future of money is heading. I may as well be wrong about that.

We will know in the future, if the government will create theirs and they will have the similar system as bitcoin it does not guarantee that people will adopt, they are still centralized and people wants decentralized to have full freedom and privacy of their money.

I think of course it will be done by the government, seeing the success of bitcoin, they would make a similar digital currency bitcoin, but they will not be able to make decentralization

Caladonian

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Quote from: GregH37 on November 24, 2016, 04:23:12 AM

Quote from: freedomgo on November 22, 2016, 04:27:27 AM

Quote from: raven7886 on November 19, 2016, 02:30:48 PM

Quote from: n0ne on November 19, 2016, 06:33:20 AM

When years pass countries will start creating their own digital currency based upon the blockchain technology. When countries have their own currencies it cannot be used universally similar to bitcoin. On this base bitcoin will be moving on the rising side and won't fall of these generation of new coins.

Yes, there will not be any point on having a country specific crypto currency instead of bitcoins. It will not solve the need of having an universal payment system across borders.

Even after having country specific crypto currencies, people/countries might need an universal payment system like what we are having right now as USD or gold (a medium of exchange).

It means what is the need to have two crypto currencies when only one will solve all the requirements, that one will be bitcoin payment system for sure.

True that bitcoin can be a universal online currency but that will have to pass to the process to be able to attract people for adoption. It has not been regulated yet and maybe we should look on that first on how to treat that.

Yes agree with you. Hope that very soon bitcoin is going to become legal currency when all the countries of the world will accept bitcoin. As we can see that now the number of bitcoin users is increasing on regular basis, and hope that the will put pressure on the governments to consider bitcoin as legal currency.

it can mate but for sure government won't allow that they don't have any control so if ever that this can be use locally i guess it will have some restrictions and limitation as we still wants that this coin will still anonymous and not been controlled by anyone. for sure paper money will still there in anyhow.

GregH37

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Quote from: freedomgo on November 22, 2016, 04:27:27 AM

Quote from: raven7886 on November 19, 2016, 02:30:48 PM

Quote from: n0ne on November 19, 2016, 06:33:20 AM

When years pass countries will start creating their own digital currency based upon the blockchain technology. When countries have their own currencies it cannot be used universally similar to bitcoin. On this base bitcoin will be moving on the rising side and won't fall of these generation of new coins.

Yes, there will not be any point on having a country specific crypto currency instead of bitcoins. It will not solve the need of having an universal payment system across borders.

Even after having country specific crypto currencies, people/countries might need an universal payment system like what we are having right now as USD or gold (a medium of exchange).

It means what is the need to have two crypto currencies when only one will solve all the requirements, that one will be bitcoin payment system for sure.

True that bitcoin can be a universal online currency but that will have to pass to the process to be able to attract people for adoption. It has not been regulated yet and maybe we should look on that first on how to treat that.

Yes agree with you. Hope that very soon bitcoin is going to become legal currency when all the countries of the world will accept bitcoin. As we can see that now the number of bitcoin users is increasing on regular basis, and hope that the will put pressure on the governments to consider bitcoin as legal currency.

BobK71

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Quote from: deisik on November 22, 2016, 04:21:39 PM

Since in real economy money should be created (and destroyed as well) based on the needs of the economy, and not according to some set in stone algorithm. I don't mean to say that fiat is ideal, but in exactly this respect it beats Bitcoin hands down. Whoever is going to challenge this point (and I guess there will be a lot of such), think first what is the primary function of money. And once you get to it, you may come to understand as well that the amount of money to fulfill this function in the most optimal way depends on the size of the economy, which is not fixed and may expand as easily as contract

This is a familiar point made by the global elites.

No doubt, money (and/or debt, and/or other financial assets) needs to be created to suit economic needs. The question is who determines how much to create. Is it the free capital markets, or the elites by central planning at the core of the system?

Almost all major human problems in modern history can probably be traced, ultimately, to distorted capital markets due to the incentives for the elites to create money and/or debt to benefit themselves and prop them up with state power.

Bitcoin might have a hard limit, but the amount of debt payable in Bitcoin is not limited. This was essentially what funded the Italian Renaissance -- debt against physical gold and silver.

arseaboy

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Quote from: danherbias07 on November 22, 2016, 10:44:44 AM

Quote from: iamTom123 on November 22, 2016, 07:41:13 AM

Quote from: yayayo on October 24, 2016, 09:42:16 AM

The idea of central bank controlled cryptocoins has been around for a while. I fail to see that these coins pose any serious risk for the valuation of Bitcoin or precious metals and I don't think such a concept will be successful.

The reason for this is pretty simple: Even if such a coin is constructed under the umbrella of the IMF it still doesn't represent a real valuable asset, because it is subject to political influence. There are also many questions regarding its creation. For example how should the coin be mined - should every country mine its own stash or will there be fixed quotas allocated to each country? How would all countries of the IMF even be able to form a consensus?

An IMF coin will never constitute a real asset like gold or Bitcoin, because it's not functioning as a incorruptible natural resource. Instead an IMF coin would be some kind of "meta-fiat" used as backing for fiat.

ya.ya.yo!

I fully agree with this. When it is subject to the control and influence of a certain big institution, then can be a big problem as it is not offering what a decentralized cryptocurrency can offer. This is a central idea behind the success of Bitcoin and if you pulled it down then you have nothing at the end of the tunnel.

Satisfying thoughts which is true. Problem is if something is owned by someone there is a big possibility that someone could stain it. Even the owner itself could make evil works when he sees a big profit in it. That is why many are trying so hard to make an altcoin. A lot of money is into it unlike bitcoin.

Indeed mate.. and hopefully this would not happen in bitcoin community to get a full controlled by a certain institution like government or any private sectors because if it does definitely there would be a lot of changes for us and there would also some activities that can be more beneficial for them.

deisik

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Quote from: funkenstein on November 22, 2016, 11:11:07 AM

Quote from: freedomgo on November 22, 2016, 04:27:27 AM

True that bitcoin can be a universal online currency but that will have to pass to the process to be able to attract people for adoption. It has not been regulated yet and maybe we should look on that first on how to treat that.

Not been regulated yet?? It's the most regulated type of currency in the world by a huge margin. Every money creation event and every transaction are public and audited by everyone. Regulations specify EXACTLY how much can be created, and when. Imagine trying to get fiat mongers to submit to this kind of regulation. Lol, right?

And this is exactly the reason why Bitcoin may not be suitable for real economy as an ultimate means of exchange

Since in real economy money should be created (and destroyed as well) based on the needs of the economy, and not according to some set in stone algorithm. I don't mean to say that fiat is ideal, but in exactly this respect it beats Bitcoin hands down. Whoever is going to challenge this point (and I guess there will be a lot of such), think first what is the primary function of money. And once you get to it, you may come to understand as well that the amount of money to fulfill this function in the most optimal way depends on the size of the economy, which is not fixed and may expand as easily as contract

funkenstein

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Quote from: freedomgo on November 22, 2016, 04:27:27 AM

True that bitcoin can be a universal online currency but that will have to pass to the process to be able to attract people for adoption. It has not been regulated yet and maybe we should look on that first on how to treat that.

Not been regulated yet?? It's the most regulated type of currency in the world by a huge margin. Every money creation event and every transaction are public and audited by everyone. Regulations specify EXACTLY how much can be created, and when. Imagine trying to get fiat mongers to submit to this kind of regulation. Lol, right?

Topic: The Future of Money? - page 3. (Read 8071 times)