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Topic: The problem of getting bitcoin in the future - page 3. (Read 1038 times)

hero member
Activity: 1484
Merit: 535
Whether or not the electronic money through the future is easy is a difficult question. Firstly, in terms of economic integration, this is very difficult now because each country has its own face value and money, it is difficult to synchronize, another difficulty is that the legal is unclear because each country has one private law. Secondly, the political, military, and information technology are uneven, leading to access to electronic money is not virtual reality. So how to solve this problem?


Integrating the use of electronic/ digital money into a country is not as problematic as you think it would be. China for instance  as been able to integrate regular use of electronic/ digital payment system like weChat, with about half of their population using that payment option. Knowledge and understanding are all we need to be able to accept and adopt to the use of cryptocurrency. What people need to understand and see is that, cryptocurrencies such bitcoin are no different from physical fiat used for exchange of goods and services. Once the world understands this, Cryptocurrencies can easily be adopted and used world wide.
hero member
Activity: 938
Merit: 500
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The problem of getting bitcoin in the future is if it is going to be easy to get bitcoin for a cheap price because the price of bitcoin might go up in the future for at least $20,000 again because the correction phase is done and all we seeing now is growth for the price of bitcoin and if the demand for bitcoin will go up sooner than later then expect difficulties getting some huge amount of bitcoin because of the expensive price.
jr. member
Activity: 84
Merit: 3
This is definitely a non-problem. While owning a whole btc is nice, it is not necessary for most people. Do most people have 100k in their bank account? No, most people will have at most a tenth or a hundredth of a bitcoin and if btc does well we may start talking about satoshis rather than bitcoin.
sr. member
Activity: 728
Merit: 275
Whether or not the electronic money through the future is easy is a difficult question. Firstly, in terms of economic integration, this is very difficult now because each country has its own face value and money, it is difficult to synchronize, another difficulty is that the legal is unclear because each country has one private law. Secondly, the political, military, and information technology are uneven, leading to access to electronic money is not virtual reality. So how to solve this problem?

We can't even think of a one country world where there is just one currency because there is a pretty uneven distribution of wealth around the world therefore each country wants to control their currency circulation in order to get maximum economic output however in bitcoin no one can control the circulation of money therefore economic growth would be greatly hampered.
legendary
Activity: 1218
Merit: 1007
I am wondering if more and more mining centers will switch to the use of alternative energy, will it allow to reduce the cost of bitcoin? After all, while mining is very expensive
It all depends on the economics of it. There aren't a lot of scenarios where you could effectively pay into alternative energy and have it net you a decent return. For example, if a miner has no river or lakes near them, they can't do hydro. If their location also lacks significant wind activity, they now can't use wind power either. If they're far from the equator it might also be difficult for them to supply their energy needs during winter months, as the sun won't shine as much as necessary to keep all of their miners operational, in the case of solar panels. If anything, alternative energy might increase the cost of Bitcoin because of the setup costs.

That, and now you have to think about how you'd store excess energy, if at all. Batteries that could store the amount of electricity required to run miners for a night would cost, at least, tens if not hundreds of thousands of dollars.

There are some ways that they could notionally reduce the expenses, such as selling the energy they produce back to the grid, but the same issues I mentioned above still apply. Renewable resources are not an end-all-be-all when it comes to reducing energy expenditures.
full member
Activity: 385
Merit: 101
It will be really interesting to see what will happen when the block reward drops off to virtually nothing.  Im not totally sure miners will be fully content off transaction fees alone.
full member
Activity: 169
Merit: 100
Vite
I also think like everyone here. I think there will be no problem to receive bitcoin in the future.
Now I see many countries accept bitcoin and use bitcoin as a means of payment. Don't worry too much, everything will be fine
legendary
Activity: 3192
Merit: 2979
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I can personally say that bitcoin is still on a experimental stage. We never know what will happen and bitcoin can really be on the history as the father of crypto but this cannot yet guarantee its success in the future

You can be sure it is on the experimental stage, that's why bitcoin version is 0.17, when it rich the version 1 then we can say the experiment phase is over, i don't know how long it will take, but for sure btc will be much different from what its nowadays.
hero member
Activity: 2156
Merit: 531
Will not be a problem in the future given the large number of people  want to invest in bitcoin ,its difficult that there is not from several countries including my country already mature in expanding investors ,I think bitcoin will be easy to use in your daily life later
legendary
Activity: 2814
Merit: 1112
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For me, it all depends on how we get it, even if there are countries that forbid it will not affect Bitcoin because prohibition is only limited to regulation, for example many countries that have not made regulations allow or prohibit and citizens can still get Bitcoin from buying or mining.
member
Activity: 280
Merit: 14
It's still very possible for counties to have there own money value and for there citizenry to deal in bitcoin. Bitcoin is not money but it can be converted into other currency value so this eliminate that stereotype
full member
Activity: 686
Merit: 125
That would. not be a problem at all OP. Now, maybe you can say that because bitcoin is not yet adapted. This is why you think that it will be difficult for bitcoin to use. However,  the bitcoin if adapted already to all over the world will going to unify all the fiats around the world. This is the only money that all fiats could convert into and use it having the same value for all. This is way better in spending it especially if your out of your country. You'll just have the need to have bitcoin and you can travel all around the world.
sr. member
Activity: 1274
Merit: 267
Regarding the technical problems, there are a lot of options. And new innovations will always be found. I think Satoshi, Bitcoin inventor, is living in the future and always know from the start what are needed in the future and how Bitcoin will survive.


Regarding the adoption, Bitcoin as an electronic money which dont belong to any country is of course will always face hard problem. Every country are just trying to make their financial products (their own currencies) to be used by their people or even other people outside their country. Bitcoin is a kind of threat to them, especially banker as they will not be able to fool people anymore using their centralized ways. But, I dont think this will last forever, centralize currency will be struggle at the end and they will realize that they can't use this way anymore. In other side, people will realize that they have been fooled by bank system in their whole lives. Therefore, either bankers or normal people will start looking into bitcoin and try to use blockchain system. So, my opinion, Bitcoin will be adopted by anyone and it's just about time.
copper member
Activity: 2898
Merit: 1464
Clueless!
The halving in 1 year plus.

The fact that 86% of all BTC has already been mined. So maybe whales/folk will fight and raise price

for the remaining 14% BTC left?

Mining difficulty at ATH but price of btc is 3/4 of what it was 1 year ago

fun times (not!)

brad
legendary
Activity: 2982
Merit: 1028
I can personally say that bitcoin is still on a experimental stage. We never know what will happen and bitcoin can really be on the history as the father of crypto but this cannot yet guarantee its success in the future
Anything can happen in the future, we just need to survive this infancy period before we can call the system successful and be adopted by many people around the globe, possibilities can't be denied that things can be worse or can also be more than what we are thinking of, the potentials of bigger supports level can be in questioned as they can hold more and make it more harder than a simple bitcoiners.
full member
Activity: 644
Merit: 113
Bitcoin can go alongside with a country's currency. Since Crypto currency is decentralized, no one has control over it even the government so there will be no problem even though it exist the same way the currency of a country exist. The only problem would be, if government will apply regulation over Bitcoin, they could not control it but certainly they could regulate it.
hero member
Activity: 1246
Merit: 588
I can personally say that bitcoin is still on a experimental stage. We never know what will happen and bitcoin can really be on the history as the father of crypto but this cannot yet guarantee its success in the future
newbie
Activity: 104
Merit: 0
I am wondering if more and more mining centers will switch to the use of alternative energy, will it allow to reduce the cost of bitcoin? After all, while mining is very expensive

I don’t understand why, with the general access to green energy, countries don’t switch to it en masse? One guess is that it is more profitable for them to keep high rates for traditional mining methods.
newbie
Activity: 83
Merit: 0
I am wondering if more and more mining centers will switch to the use of alternative energy, will it allow to reduce the cost of bitcoin? After all, while mining is very expensive

Maybe it will. Now many projects decide to combine green energy and mining. Recently saw such a project in Kazakhstan, and this is all brought to the state level

funny,I see  more and more nice projects from there. I also found a nice one. taklimakan is a social network for crypto enthusiasts. It looks like Kazakhstan is going to become the next capital of technology.
Well, there is China with one of the largest economies wants to ban mining, it’s natural that centers will open more in Central Asia, where at least the level of development may be less, but the cost of production is cheaper
jr. member
Activity: 74
Merit: 1
I am wondering if more and more mining centers will switch to the use of alternative energy, will it allow to reduce the cost of bitcoin? After all, while mining is very expensive

Maybe it will. Now many projects decide to combine green energy and mining. Recently saw such a project in Kazakhstan, and this is all brought to the state level

funny,I see  more and more nice projects from there. I also found a nice one. taklimakan is a social network for crypto enthusiasts. It looks like Kazakhstan is going to become the next capital of technology.
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