Topic: The Future of Money? - page 9. (Read 8071 times)

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

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

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.

It's not possible for the cash to be ruled out.. because each countries have it's own value when it comes to their currency. Yes I agree also which country will handle bitcoins soon there will be a lot of discussions and arguments once government intervene with bitcoins.

Exactly! Just I don't think we should just stand and watch that happen. That`s why bitcoin is here, to give us one more choice. Future is very unpredictable and there will be surprises, at least now we have opportunity to support bitcoin as decentralized network, and we can also hope that people of the world will recognize what is good and what is bad.
MMF coin is not so far away from the truth, but will people start to use it? I presume we will be forced to do it by our governments if they create some coin like this one.

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.

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 that allot of peopel here think that th ebitcoin is going to overrule the money but i dont think this is going to work becuase lots of people will let the bitcoin down off course because money is everything we need.

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.

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.

ITs  still impossible for  cash  to disappear on that said year and  im sure  cash would still remain  even  further  more because  no matter  how those  cryptos or  digital currencies would  fly on upcoming years but still its not  possible   to make cash  would  disappear so easily. Fiat does  play  big role  on economic activity all over the  world. We could  not really stop  the world  on evolving  regarding  on  technology  aspects  and we would really  love to see cashless world  but still   fiat would  remain and also government would  not  let  this things to  happen.

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.

Unlikely cash will disappear by 2020. Then again, it is possible due to the crazy year we've had and all these things we've seen being revealed as true even though we staunchly believed that it wasn't possible.

I personally prefer cash, and there are only a few ways to convince me that a fully digital system is a better economic form of exchange. Too much power is handed away.

Paper money will be gone for many countries until 2020 probably. Everyone will prefer paying and receiving money on their wrists instead of having to take money out of their pocket etc.. It sounds easier, way easier but here we've got a lot of risks like hackers that we'll see EVERYWHERE around us trying to steal.

And how's Peter Grosskopf's digitized gold different from BitGold of the BitShares fame? Last time I checked, the whole BitShares shebang had a market cap of something like $11M, collapsing from the all time high of nearly $59M in October, 2014, with a daily volume of approximately $50k as of recent...




Yeah, but we already knew that, didn't we?

In some countries, the use of bitcoin is limited. More prospects for the blockchain technology behind bitcoin: it is able to simplify and transactions in gold, says Sprott CEO Peter Grosskopf. In the investment prospects of bitcoin, he believes: "We will invest in the digitization of gold, but the gold will remain faithful."The gold market is much more market of bitcoins. Just released $6.8 billion bitcoins (estimate Blockchain) whereas gold is made transactions for $150-240 billion a day (world gold Council). Investments exchange-traded funds in gold – about $80 billion.

May be in future paper money will be not used in every day normal buys/sells in merchants which is quite a reality in most of the developed cities around the world.

Bigger part of payment processor industry may be under bitcoin related projects like bitcoin debit cards, bitcoin itself as payment system.

On future also there will be high manipulation on share markets by big whales and governments. Even in future there will be high taxes to make richer more richer and poor people more poorer.

Tintin is a good story but I believe the world system is a different one.

See my post A Brief History of Modern Money for my take on the modern system.

The transition from one global empire to the next requires long-range planning.  It would very much be in the interest of the financial elite to manage this transition smoothly.  If not, the consequences are terrible for them.

It would be no different in this regard.  That is precisely the point: make it resemble Bitcoin as much as possible to gain public confidence.  (It would likely have the anonymity feature, too, I imagine.)


In most cases, imfcoins wouldn't be used to transact, but would be a good place to park your savings in some situations.  If you're a Thai and you suspect your government is issuing too much debt, you convert some of your Bahts into Imfcoin until the danger is over, or as a long term store of value.  This is not different from the role of gold during the gold standard, or the role of dollars in many countries today.

I think I understand what you mean by Gresham's Law operating in this world.  While stability holds, Gresham's Law won't operate, because there is bank interest.  During the gold standard, holding gold earned no return and holders were losing more to inflation than holders of paper money deposits, while stability lasted.  (For the same reason, developing countries today have much higher bank interest than dollar deposits anywhere.)  Again, there would be no difference with Imfcoin.


In the same way as the gold standard while the state had enough gold to hold the system stable.  It was only after states ran out of gold (after runs on the gold during crises of confidence) that the gold standard became a 'bad idea' according to establishment economists.  Trust me, the elites would love to go back to the gold standard (with the economic profession changing tune again) if it were not for the embarrassment.  Here is one good way to do it, from their point of view.

are you sure with "plastic money" ? credit card is not a plastic money because credit card is actually digitalize your fiat to make your transaction in digital world simple and instant,it's not plastic money at all if you are actually know what it is