Topic: the future real money - page 22. (Read 29392 times)

The money we use today, is virtual already, 1´s and 0´s made by pressing buttons. Some might think that dollar or euro are backed by physical assets, which is not the case any longer. We need a different sort of virtual currency, that is not made by a private institute that takes huge profits and leaves the world in dept(Federal reserve / world bank).
We need a secure decentralized medium of exchange, which is bitcoin and alt coins. last dec-jan when we had a wave of new costumers in the market, there was no infrastructure to support them all and BTC transaction prices went through the roof. The more infrastructure we can produce( alt coins and exchanges with alt coins etc etc) will make an adoption possible, so we wont see a repeating of def 2017 the next wave of as soon as the new wave of adopters arrive. I bet that blockchain and altcoins will grow and grow slowly and hopefully we will have enough infrastructure to support another wave of adopters, if they should come.

I see no reason for money to be eroded that much by alternatives, inflation and devaluation is already here, made by the system it self and how it is structured, block chain will not change that, merely offer a safe heaven for value storage and also work as a medium of exchange when retailers line up to accept it! The collapse of the FIAT system is imminent, block chain is a reaction to the fraudulent FIAT system, and could offer an alternative if we demand it to be accepted, but if regulators have their ways, we will have to wait and wait i guess.

But yeah, you are correct, we need an alternative in order for classic FIAT money to be swapped out!

Peace

I think for the future there will be changes. For now fiat is the main money, but it does not rule out the possibility that crypto in the future will be chosen and used as real money.

I think the op meant payment gateways that accept cryptos. For people to really use cryptos in their everyday lifes, we'll need debit cards and Points of Sale (terminals) that will accept these cards. I know there are some project working on it already, such as Graft, for example, but to succeed they would need consent of the major chains of grocery stores, cinemas etc. That's why I don't think we will see it around soon. It could take years to persuade Visa/Mastercard to allow mass issuing of cards with top cryptos. And making suitable payment gateways is also not among easy tasks.

It can be highly appreciated by developed countries like USA, Singapore, Japan or China. These new ideas need to be implemented in some big countries so that ideas can easily become real and effective. Wish you success and hope you will bring many benefits to Cryptocurrency.

Their is the possibility bitcoin became a future currency.We are using some online wallet to pay a bill ,in future we will use bitcoin wallet for the transcation.If that happens,you no need to stay in a line to withdraw our money.The time to transcation will be very low.So the people automatically start to use bitcoin in future.

There could be a chance of that happening but also there wont be any big change out of this. I mean there wont be full replacement of the current system as the current traditional banking is far big infrastructure which can not be replaced with the smaller blockchain based virtual payment system. The banks provide best payment processing of all time with speed, accuracy, intelligent tracking and more in their virtual payment processor. I am little skeptical that it will get replace with the crypto in full mode operation. Crypto might be used as alternative but not with full confidence.

I guess the current banking system is far more advance than what we see in the blockchain transactions. I know very well that its new tech, gives us more and more security for the transactions. However, the transactions are not that fast as they are needed to be. The transaction over blockchain are as slow as from 25 transaction per second to 50-60 Txn per seconds. This is very very slower as compared to what Visa is offering to us. Visa processes more than 25,0000 Txn per seconds. So its gonna be hard for crypto to get accepted in real world.

Hopefully barrier to development of bitcoin can be resolved soon, and later we can use bitcoin all over the world for transactions in daily needs stores. so that it will facilitate daily activities

Let's be patient  i think the people are not yet ready to adopt the future real money which is bitcoin and it seems fiat currency now is the
 big deal and people are on fiat not crypto i think maybe 10 years we will see the adoption of it.

That is not possible at all. The thing is simple, we can use the fiat over the virtual network today also by means of internet banking, NEFT, RTGS and SWIFT transfers. I dont think the world needs another payment system which is coming out from no where. The blockchain technology according to my calculations might get some attention in the future but may not be used for transforming the whole fiat system. Blockchain may transform the way we pursue the technology. The virtual payment system currently is at its peak by visa and mastercard companies. I guess no, blockchain wont be making any progress in it.

I feel like in a few years we will really pay with virtual money. Real money will not stop existing (it will be still in use with governmental payments etc.) but the amount will reduce significantly, because it is not safe and sometimes not fast enough and not liquid.

technology blockchain allows it but need to know paper currency still be trading tools among the poor, most of the third world will use the Fiat as a means the Exchange of the real world, but over time knowledge of blockchain will penetrated into the world 3 with sponsoritas full supporters blockchain in the future.

I agree. This must be expected in the future. And there is really a huge possibility that it might happen. We can today that the technology continuously grows and that is why it should be adopted. We can conclude that it can be the future of everyone. A better future indeed.

We already make virtual money payments, 90% or more of all transactions that occur in the western world don't see the transfer of any physical money, just numbers on a screen. Most of the money we spend is lent out again and again with a huge multiplier effect. In theory you can be spending the same money as your neighbour.

What do you mean by virtual payment equipment? Are you referring to hardware stuff?

My stand is that fiat won't simply die even though, digital money is slowly gaining grounds. For the simply reason that the old and traditional banking system won't simply allow it. A lot of progressive nations has been experimenting cashless society, but still there are countries which prefers the old monetary system. Maybe it will take years or maybe not.  What we can do is just enjoy the best of both worlds and then everyone would be happy.

Fiat cash have not got any future in the next 100 years, now, while you are not able to buy any food with crypto on daily basis, fiat cash is more better and actual then crypto , two sides of one coin

There will be more to come for those kind of altcoins. But for some of them will still be useless in the end, but I know that there will be a coin that could replace Bitcoin for a payment method.

for those of us who live in a country based on law, all are regulated by laws and regulations, including legal legitimate currencies used as payment instruments. it is impossible for the government to eliminate legitimate currencies with altcoins or other cryptocurrencies. digital currency may be used as an alternative in providing convenience in digital transactions. but the value is the same as fiat used. and that is different from the altcoin value.
maybe altcoin is accepted into our country, but not as our country's currency. and for a long time, the country's current currency will still survive. although more and more altcoins and cryptocurrencies are emerging.

Although the cryptocurrency will continue to evolve, and therefore partly fiat will be squeezed out of circulation, it still does not threaten the usual currency. Its fate depends on the government, but it will never make a decision on the abolition of national money and on switching to calculations in cryptocurrency. Such a decision would be detrimental to the economy of any state, which means that as long as the state exists, national money will continue to exist as well. Cryptocurrency can go in the state only simultaneously with the national money of these states and it cannot be otherwise.

if all switch to virtual currency, then what about real money conditions whether each country will stop making real money in the future I don't think so ... !!?