The Future of Money? - page 8. | Bitcointalksearch.org

MTBTT

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Quote from: BobK71 on October 27, 2016, 11:46:02 AM

Quote from: springgers on October 26, 2016, 03:23:33 AM

Actually they can pre-mine the coin and well, if they are creating a coin, for sure they will make things like put your name on the wallet and track all your transactions, don't matter how the future will be, for sure the government will regule your life and you will have to pay taxes.

Or, if they want ImfCoin to be more acceptable to the markets, the can preserve the anonymity feature. This kind of approach worked well for the gold standard.

I think the future later, cryptocurrency will remain an option or currency online, I still would believe that fiat will continue to rule the world, because there are many governments in tow

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Quote from: Mastsetad on October 27, 2016, 11:35:31 AM

Quote from: Shady on October 26, 2016, 03:08:01 PM

Money will likely keep all current forms, despite how popular one is over another.

Although new ideas on how to make transactions evolve, every prior one still kicks it.

There's no point in removing any types because money is already in circulation with no stopping point... That's the hard part, the next goal is to put diverse amounts so none become underdeveloped.

Maybe the system of paper money would change in future because of the advancement in technology but as you said the currencies would probably stay the same in future as well i guess, just the methods of usages may change accordingly to the new era.

in the future i'm sure that paper money will no more exist ,even the currencies still remain the same,the paper money will be replaced with something nature friendly in order to reduce the logging,so paper money is not going to be exist anymore

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Quote from: serjent05 on October 31, 2016, 11:06:25 AM

I agree, if IMF issue or release a coin called IMFCOIN, there are lots of country that will oppose it. The same example as you said, several strong country don't want to be controlled by a centralized system. More probably they will just laugh at it, not accept it , not honor it and ignore it. So probably IMF coin will be DOA.

I think the true function of the IMF is to keep small and poor countries in line according to the wishes of the Western elites. The IMF doesn't have enough money or power to deal with larger or richer countries.

The reason I originally brought out the IMF is that I have read multiple times that the IMF will likely be the venue through which the world goes back to the gold standard, if that happens. But if you think about it, gold has a naturally strong following (especially if the IMF gets more gold from members by agreement,) so faith would not be a problem there.

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Quote from: Reid on October 31, 2016, 06:55:09 AM

Very unique and good thinking.

Yeah if they are the ones who created this flow of bitcoin then it is very much likely they could create another.
But there is an "if" so are we just making an opinion here or does it have facts? Just want to know my friend.

Thank you. Certainly everything is just opinion and prediction here. The answer to your question is IMO fundamentally unknowable. If I fool you once, can I fool you again? Or can I even fool you once? It all depends on how you respond, which is impossible to know with certainty.

My opinion, given the modern history of money, unfortunately, is that the public can be fooled. Maybe not the second time (ie ImfCoin2), and even less likely the third time, but the first time is possible.

But, as I mentioned, the IMF needs the trust of all major countries for this to work (the last thing the Western elites want is for the West to get on ImfCoin while Russia and China go to gold.) This is not looking likely right now.

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Quote from: Mastsetad on October 27, 2016, 11:35:31 AM

Quote from: Shady on October 26, 2016, 03:08:01 PM

Money will likely keep all current forms, despite how popular one is over another.

Although new ideas on how to make transactions evolve, every prior one still kicks it.

There's no point in removing any types because money is already in circulation with no stopping point... That's the hard part, the next goal is to put diverse amounts so none become underdeveloped.

Maybe the system of paper money would change in future because of the advancement in technology but as you said the currencies would probably stay the same in future as well i guess, just the methods of usages may change accordingly to the new era.

yes that is a fact, we can see that now the trend of using currency is changing from time to time, as the new generation is now taking interest in online trading and shopping, therefor they like to use crypto currency for that and i think bitcoin is the best option for them.

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Quote from: BobK71 on October 30, 2016, 07:57:23 PM

There IS a flaw in the ImfCoin plan.

All major countries will have to agree to base their money on ImfCoin. That is getting harder, not easier these days, as countries like China, Russia and India are beginning to think that the IMF claims to be a multi-lateral, rules-based institution, but is in fact dominated by the US.

If trusting the IMF is the same as trusting the US, the trust is not likely to be forthcoming, unless a major geopolitical event gives a big boost to US power from its current state. It's hard to see that happening at this point.

I agree, if IMF issue or release a coin called IMFCOIN, there are lots of country that will oppose it. The same example as you said, several strong country don't want to be controlled by a centralized system. More probably they will just laugh at it, not accept it , not honor it and ignore it. So probably IMF coin will be DOA.

Reid

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Very unique and good thinking.

Yeah if they are the ones who created this flow of bitcoin then it is very much likely they could create another.
But there is an "if" so are we just making an opinion here or does it have facts? Just want to know my friend.

BobK71

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There IS a flaw in the ImfCoin plan.

All major countries will have to agree to base their money on ImfCoin. That is getting harder, not easier these days, as countries like China, Russia and India are beginning to think that the IMF claims to be a multi-lateral, rules-based institution, but is in fact dominated by the US.

If trusting the IMF is the same as trusting the US, the trust is not likely to be forthcoming, unless a major geopolitical event gives a big boost to US power from its current state. It's hard to see that happening at this point.

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Quote from: Mastsetad on October 26, 2016, 04:41:52 AM

Quote from: springgers on October 26, 2016, 03:23:33 AM

Actually they can pre-mine the coin and well, if they are creating a coin, for sure they will make things like put your name on the wallet and track all your transactions, don't matter how the future will be, for sure the government will regule your life and you will have to pay taxes.

Exactly, no government would accept a currency as their own if they have no access on it at all, if bitcoin is legalized it would probably be an alternative currency but the main currency of a country always be the ones that is in control of government.

Remember, totally fiat money has been around only since 1971. The previous 300+ years of modern money saw state issued paper money pegged against gold and/or silver, and you can easily argue that the elites did even better under the gold and silver standards (since the system was more stable even though the wealth came slower to the elites.)

ImfCoin would be essentially the same as a new gold standard, but allow the elites to claim they're doing it to 'modernize money by making it electronic,' and not because their fiat system is so unstable.

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Quote from: springgers on October 26, 2016, 03:23:33 AM

Actually they can pre-mine the coin and well, if they are creating a coin, for sure they will make things like put your name on the wallet and track all your transactions, don't matter how the future will be, for sure the government will regule your life and you will have to pay taxes.

Or, if they want ImfCoin to be more acceptable to the markets, the can preserve the anonymity feature. This kind of approach worked well for the gold standard.

BobK71

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Quote from: goldcoinminer on October 26, 2016, 02:51:18 AM

Quote from: @prashant on October 25, 2016, 10:15:22 PM

It is sure that future money will be digitalizedone but there is no assurity that blockchain concept will be used unless everyone is literate enough to understand just a hint of what they are handling.

No way blockchain will be use, we are talking here of the entire human race, there's a big question on who will represent for bitcoin and how the government will ensure that system of bitcoin to comply with the laws of the state, I think that is not possible.

I think it's possible (but not assured) that the elites will be able to use the large no. of people who already understand blockchains to spread their propaganda. Since financial market confidence is the key, it's possible that enough financial participants will understand blockchains to uphold the faith in the blockchain the elites want to promote.

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Quote from: cjmoles on October 26, 2016, 02:28:40 AM

That seems to be the direction that's being pursued behind closed doors (R3CEV); however, the social and political changes that drive the adoption of bitcoin and similar technologies will be lost if controlled by a group of elites. A value that is inherent in the blockchain technologies that I believe is being underestimated is the value associated with their networking possibilities themselves. Our currencies are changing in such a way that their utility is far more relevant than merely a tool used as means of exchange or a device to store wealth....The monetizing of information propagation thru micro-payments and peer to peer networking is enormously important in a world which is controlled by an elitist group....Think about it.

While I agree with your drift, we have to remember that politics is the art of the least common denominator. When a technology, methodology or ideology has evolved far beyond the understanding of most common folk, the elites will use the lack of public awareness to squash the new thing, or, even worse, use the power of the thing to solidify their power.

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Quote from: Shady on October 26, 2016, 03:08:01 PM

Money will likely keep all current forms, despite how popular one is over another.

Although new ideas on how to make transactions evolve, every prior one still kicks it.

There's no point in removing any types because money is already in circulation with no stopping point... That's the hard part, the next goal is to put diverse amounts so none become underdeveloped.

Maybe the system of paper money would change in future because of the advancement in technology but as you said the currencies would probably stay the same in future as well i guess, just the methods of usages may change accordingly to the new era.

BobK71

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Quote from: Wind_FURY on October 25, 2016, 09:11:58 PM

What cryptocurrency and blockchain technology has shown is that it would be now possible to "mint" your own private money and put that in circulation. Of course no single individual would be successful without the help of a community around it to help support it and make it grow the user base. POW based coins are a good example of what the future of money could look like. It's secure, it's peer to peer and there's no centralized power that controls it. It's a historical breakthrough.

Yes, and combine that with the power of government -- the result is pretty powerfully in favor of ImfCoin.

That has been my main point.

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Quote from: Bitmate on October 26, 2016, 12:09:51 PM

Quote from: gabmen on October 26, 2016, 06:36:38 AM

Quote from: Mastsetad on October 26, 2016, 04:41:52 AM

Quote from: springgers on October 26, 2016, 03:23:33 AM

Actually they can pre-mine the coin and well, if they are creating a coin, for sure they will make things like put your name on the wallet and track all your transactions, don't matter how the future will be, for sure the government will regule your life and you will have to pay taxes.

Exactly, no government would accept a currency as their own if they have no access on it at all, if bitcoin is legalized it would probably be an alternative currency but the main currency of a country always be the ones that is in control of government.

Yeah it's going to be regulated and controlled by goverments if ever it becomes mainstream and bitcoin may have a lot of changes by then. But i think fiat would still be the one in control of the market. I think it hold is too firm on people that some may have a hard time moving to an alternative

I think the governments will not regulate the bitcoin itself. They will only regulate the ownership of the bitcoin.

It won't as of now because they don't know what it is. They will just going to be able to believe with gold and other fiat money rather than with cryptos.

And Bill Gates is going to contribute on the future money as he believes that it will be with cashless society.

I think he is considering bitcoin with it or not a digitized dollar.

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Quote from: Yakamoto on October 26, 2016, 09:17:45 PM

Quote from: ?? on ??

Quote from: Bitmate on October 26, 2016, 12:09:51 PM

Quote from: gabmen on October 26, 2016, 06:36:38 AM

Quote from: Mastsetad on October 26, 2016, 04:41:52 AM

Quote from: springgers on October 26, 2016, 03:23:33 AM

Actually they can pre-mine the coin and well, if they are creating a coin, for sure they will make things like put your name on the wallet and track all your transactions, don't matter how the future will be, for sure the government will regule your life and you will have to pay taxes.

Exactly, no government would accept a currency as their own if they have no access on it at all, if bitcoin is legalized it would probably be an alternative currency but the main currency of a country always be the ones that is in control of government.

Yeah it's going to be regulated and controlled by goverments if ever it becomes mainstream and bitcoin may have a lot of changes by then. But i think fiat would still be the one in control of the market. I think it hold is too firm on people that some may have a hard time moving to an alternative

I think the governments will not regulate the bitcoin itself. They will only regulate the ownership of the bitcoin.

Well they will have the control for regulation if they are going to look for Satoshi and ask him to make the control to turn over to the government. But I don't think this is not going to happen as the bitcoin has already an automatic system where basing on the supply and demand of the bitcoin. They will just make bitcoin as 2nd currency.

They would want Satohsi not for his ability to turn over control, but for his ability to convince enough people to turn over control voluntarily, making it look less and less like a police-state action and more like a "legitimate venture/request".While this would be met with a fair amount of backlash, a government having Satoshi under their thumb would be a pretty big plus in the event Bitcoin ever became something noticeable.

I would not want to compromise the original system of bitcoin, and I think we do not need the government to succeed because as you can see we are improving now as a community an as for the economy of bitcoin as a whole. When you merge it with the government, the government will not allow us to control them but the opposite way, and we do not like that since our freedom will be gone.

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Quote from: Bitmate on October 26, 2016, 12:09:51 PM

Quote from: gabmen on October 26, 2016, 06:36:38 AM

Quote from: Mastsetad on October 26, 2016, 04:41:52 AM

Quote from: springgers on October 26, 2016, 03:23:33 AM

Actually they can pre-mine the coin and well, if they are creating a coin, for sure they will make things like put your name on the wallet and track all your transactions, don't matter how the future will be, for sure the government will regule your life and you will have to pay taxes.

Exactly, no government would accept a currency as their own if they have no access on it at all, if bitcoin is legalized it would probably be an alternative currency but the main currency of a country always be the ones that is in control of government.

Yeah it's going to be regulated and controlled by goverments if ever it becomes mainstream and bitcoin may have a lot of changes by then. But i think fiat would still be the one in control of the market. I think it hold is too firm on people that some may have a hard time moving to an alternative

I think the governments will not regulate the bitcoin itself. They will only regulate the ownership of the bitcoin.

Well they will have the control for regulation if they are going to look for Satoshi and ask him to make the control to turn over to the government. But I don't think this is not going to happen as the bitcoin has already an automatic system where basing on the supply and demand of the bitcoin. They will just make bitcoin as 2nd currency.

They would want Satohsi not for his ability to turn over control, but for his ability to convince enough people to turn over control voluntarily, making it look less and less like a police-state action and more like a "legitimate venture/request".While this would be met with a fair amount of backlash, a government having Satoshi under their thumb would be a pretty big plus in the event Bitcoin ever became something noticeable.

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Imagine this: a blockchain where the transaction hash included content; for example, transactions that included a song, a video, a book...etc When content is bought it is included in the ledger, so now those who owned the transaction could sell that content that they bought and get their investment back....That seems to be the direction things are going....currency that is multi-functional, decentralized, transparent, and recorded on immalleable ledgers.

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Life is a game, you either play it or get played.

Money will likely keep all current forms, despite how popular one is over another.

Although new ideas on how to make transactions evolve, every prior one still kicks it.

There's no point in removing any types because money is already in circulation with no stopping point... That's the hard part, the next goal is to put diverse amounts so none become underdeveloped.

varyspro

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Quote from: gabmen on October 26, 2016, 06:36:38 AM

Quote from: Mastsetad on October 26, 2016, 04:41:52 AM

Quote from: springgers on October 26, 2016, 03:23:33 AM

Actually they can pre-mine the coin and well, if they are creating a coin, for sure they will make things like put your name on the wallet and track all your transactions, don't matter how the future will be, for sure the government will regule your life and you will have to pay taxes.

Exactly, no government would accept a currency as their own if they have no access on it at all, if bitcoin is legalized it would probably be an alternative currency but the main currency of a country always be the ones that is in control of government.

Yeah it's going to be regulated and controlled by goverments if ever it becomes mainstream and bitcoin may have a lot of changes by then. But i think fiat would still be the one in control of the market. I think it hold is too firm on people that some may have a hard time moving to an alternative

The government is dangerous for Bitcoins. After all, he has the power to prevent cryptocurrency general. But hopefully chtv our country, it will never happen

Topic: The Future of Money? - page 8. (Read 8114 times)