The Future of Money? - page 4. | Bitcointalksearch.org

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Quote from: iamTom123 on November 22, 2016, 06:41:13 AM

Quote from: yayayo on October 24, 2016, 08:42:16 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.

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Quote from: yayayo on October 24, 2016, 08:42:16 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.

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Quote from: freedomgo on November 22, 2016, 03:27:27 AM

Quote from: raven7886 on November 19, 2016, 01:30:48 PM

Quote from: n0ne on November 19, 2016, 05:33:20 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.

But how could regulations possibly help Bitcoin in this regard really?

When you make a wrong payment through a wire transfer or by some payment system like Visa, MasterCard or PayPay, the offending transaction gets declined after some period of time (a few days usually) with the funds returning to your account. In the worst case scenario, you can at least demand to revert the transaction. This is obviously not the case with Bitcoin since Bitcoin transactions are irreversible, even if you send bitcoins to a non-existent address. Apart from that, stealing bitcoins would lead to a loss in absolutely the same way irrespective from whom they got stolen, from individuals or banks

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Quote from: raven7886 on November 19, 2016, 01:30:48 PM

Quote from: n0ne on November 19, 2016, 05:33:20 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.

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Quote from: n0ne on November 19, 2016, 05:33:20 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.

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Quote from: n0ne on November 19, 2016, 05:33:20 AM

Quote from: goldcoinminer on November 19, 2016, 03:14:40 AM

Quote from: jondeen707 on November 18, 2016, 10:15:22 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.

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.

How can they do that, bitcoin is decentralized and a country has it's government which I am certain want to have control to monitor the transaction, they are the eyes of the people to protect the lives and future of the people. I guess it will never happen with the same platform with bitcoin.

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Quote from: goldcoinminer on November 19, 2016, 03:14:40 AM

Quote from: jondeen707 on November 18, 2016, 10:15:22 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.

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.

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Quote from: jondeen707 on November 18, 2016, 10:15:22 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.

They have been looking into it from the start and the latest report to come out shows them not doing to well at keeping up : http://www.coindesk.com/irs-overhaul-bitcoin-tax-strategy/

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Quote from: goldcoinminer on November 19, 2016, 03:14:40 AM

Quote from: jondeen707 on November 18, 2016, 10:15:22 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.

Not really sure but i think if there is such a plan there should be hints that we would notice by now. They may be monitoring crypto but i think for now thats as far as it goes

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Quote from: jondeen707 on November 18, 2016, 10:15:22 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.

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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.

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Quote from: arwin100 on November 18, 2016, 09:23:25 AM

Quote from: olubams on November 18, 2016, 05:04:53 AM

Quote from: millgates on November 18, 2016, 03:00:51 AM

A lot of country are get in mainstream of use digital currency and leave paper money. People are angry with a lot of government member who doing corruption of tax. So I think people will leave paper money and start to use gold or digital money.

Whether the people like it or not the government will continue to have its way because without government there we are calling for anarchy. The fact that people dont trust government with taxes and so they will switch to other forms of currency wont work because its either government finds its way to get its taxes from that new source by making laws to cover it or if that is not possible, government will ban everything all together and force people back to the initial position with adequate punishment in the case of disobedience. Either way, government still wins...

So do you think.government trace out now? Where anonymous here and government surely will get a hard time to cath us and make us pay some taxes for our ventures here since we doesnt give any details to anyone, and from the startnofnusing bitcoins i didn't really sue by them and force me to pay those fucking taxes, and thats one of the reason why i dont believe government well win on searching people in this crypto industry.

Why would they want to track you down if you are only a small fish? That would be prohibitively expensive for them to go after every bitcoiner out there. If you are a big fish, you will be easy to catch once you want to spend your bitcoins big time, since you would have to convert them to some fiat currency. And with heaps of fiat in your bank account you will be caught as fast as a cat catches mice...

The only way to not get caught in this case is to avoid fiat completely

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Quote from: olubams on November 18, 2016, 05:04:53 AM

Quote from: millgates on November 18, 2016, 03:00:51 AM

A lot of country are get in mainstream of use digital currency and leave paper money. People are angry with a lot of government member who doing corruption of tax. So I think people will leave paper money and start to use gold or digital money.

Whether the people like it or not the government will continue to have its way because without government there we are calling for anarchy. The fact that people dont trust government with taxes and so they will switch to other forms of currency wont work because its either government finds its way to get its taxes from that new source by making laws to cover it or if that is not possible, government will ban everything all together and force people back to the initial position with adequate punishment in the case of disobedience. Either way, government still wins...

So do you think.government trace out now? Where anonymous here and government surely will get a hard time to cath us and make us pay some taxes for our ventures here since we doesnt give any details to anyone, and from the startnofnusing bitcoins i didn't really sue by them and force me to pay those fucking taxes, and thats one of the reason why i dont believe government well win on searching people in this crypto industry.

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Quote from: olubams on November 18, 2016, 05:04:53 AM

Quote from: millgates on November 18, 2016, 03:00:51 AM

A lot of country are get in mainstream of use digital currency and leave paper money. People are angry with a lot of government member who doing corruption of tax. So I think people will leave paper money and start to use gold or digital money.

Whether the people like it or not the government will continue to have its way because without government there we are calling for anarchy. The fact that people dont trust government with taxes and so they will switch to other forms of currency wont work because its either government finds its way to get its taxes from that new source by making laws to cover it or if that is not possible, government will ban everything all together and force people back to the initial position with adequate punishment in the case of disobedience. Either way, government still wins...

I don't think so. There are ways for you to become anonymous online. Even if they do ban it, it would be hard for them to trace you and there are other things they should worry about. They will not arrest you in particular just because you used bitcoins. It should be something heavier than that.

There will always be people that use fiat. Even bitcoin users will use fiat in the future. We would still be paying tax. No need for them to do desperate moves just to get tax out of bitcoin users because the majority of people will still not use bitcoins primarily.

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Quote from: millgates on November 18, 2016, 03:00:51 AM

A lot of country are get in mainstream of use digital currency and leave paper money. People are angry with a lot of government member who doing corruption of tax. So I think people will leave paper money and start to use gold or digital money.

Whether the people like it or not the government will continue to have its way because without government there we are calling for anarchy. The fact that people dont trust government with taxes and so they will switch to other forms of currency wont work because its either government finds its way to get its taxes from that new source by making laws to cover it or if that is not possible, government will ban everything all together and force people back to the initial position with adequate punishment in the case of disobedience. Either way, government still wins...

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Quote from: millgates on November 18, 2016, 03:00:51 AM

A lot of country are get in mainstream of use digital currency and leave paper money. People are angry with a lot of government member who doing corruption of tax. So I think people will leave paper money and start to use gold or digital money.

if people are leaving paper money in purpose to avoid tax because as you know tax are corrupted by the government,then the country will be doomed,will become an instant poor country with ultra low income which end up make them suffering a lot

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Quote from: South Park on November 15, 2016, 05:48:22 PM

Quote from: PokerFace3 on November 13, 2016, 01:33:35 AM

Quote from: panju1 on November 12, 2016, 11:11:30 PM

The amount of trees cut to issue paper money is a non-issue. We could just have higher denomination notes. In any case, most fiat notes are printed on polymers/plastics these days. So that will not be a reason for the adoption of crypto currencies.

But digital currencies must be environmental friendly in this sense. When we are already switching over to ebook and digital magazines for reason of deforesting, why not currencies alone still in physical format even it is printed on plastic substitutes (polymers may lead to severe pollution issues).

Quote from: panju1 on November 12, 2016, 11:11:30 PM

that will not be a reason for the adoption of crypto currencies.

But, we could use this environmental friendly reason to fasten the adoption of crypto currencies.

Miners use a big amount of energy so much in fact that the cost of the equipment is not the most important aspect but energy costs, so I don't know how environmental friendly cryptocurrencies actually are.

They are as environmentally friendly (or unfriendly, for that matter) as the sources of electric power that miners supply their equipment with. The total majority of miners are said to be located in China, where the main source of electricity today still remains plain old burning of coal at power plants (over 60% of generating capacity in China). Coal power plants are one of the dirtiest sources of electric power, if not outright the dirtiest one among all other sources of electricity out there that are in operation today...

So I don't think that mining is very friendly toward environment overall

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A lot of country are get in mainstream of use digital currency and leave paper money. People are angry with a lot of government member who doing corruption of tax. So I think people will leave paper money and start to use gold or digital money.

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Quote from: Umigokath on November 15, 2016, 02:51:39 PM

The future of the money is pretty good but no one knows that is really gonna happen with it of course because its something that we cannot predict.
The bitcoin can maybe be a global currency but we are right now still far from that.

and I think that to forecast relatively centralized currency everyone can. It will remain in use. Though it will be subject to inflation. And cryptocurrency account - is difficult to predict

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Quote from: PokerFace3 on November 13, 2016, 01:33:35 AM

Quote from: panju1 on November 12, 2016, 11:11:30 PM

The amount of trees cut to issue paper money is a non-issue. We could just have higher denomination notes. In any case, most fiat notes are printed on polymers/plastics these days. So that will not be a reason for the adoption of crypto currencies.

But digital currencies must be environmental friendly in this sense. When we are already switching over to ebook and digital magazines for reason of deforesting, why not currencies alone still in physical format even it is printed on plastic substitutes (polymers may lead to severe pollution issues).

Quote from: panju1 on November 12, 2016, 11:11:30 PM

that will not be a reason for the adoption of crypto currencies.

But, we could use this environmental friendly reason to fasten the adoption of crypto currencies.

Miners use a big amount of energy so much in fact that the cost of the equipment is not the most important aspect but energy costs, so I don't know how environmental friendly cryptocurrencies actually are.

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