Topic: What is the future of bitcoin and other virtual currencies? (Read 269 times)

Hi there wolf one! let me answer your question one by another.


The future is bright and green ahead, several companies are now considering crypto as a payment in their payment and services.


I think it is very far from replacing credit card, because some prefer to sell their bitcoin and the payment go straight to their card and those who are willing to buy crypto mostly use their credit card.


International cash payment could, because transaction fee and the transaction speed is way faster and cheaper using crpto.


I could be, I even prefer to open a new wallet rather than opening a new account in a bank.


Yes, some are right but the privacy could be a debate, transaction are publicly viewable but the owner is hard to be trace.


The prefer to protect their self first not even the seller or the buyer. I can't state the issue but a couple of google search and you could find what I am talking to.

Yes even myself believe that bitcoin will soon be at the top number spot in whole Financial world and I think that it soon replace the Credit card and Debit card as you will soon see the Bitcoin ATM card in your city and I think few ATM for bitcoin is already been introduced and yes they have already started planning their first step for replacing the international cash payment and short term bank deposits and I think this query will be solved in future when therewill special banks for Bitcoin cash deposits by introducing Physical bitcoin currency notes and coins. And side by side there will also be coins for special industries and they will be helping us to do the transaction at very low cost along with privacy. And I think whenever the dispute arises bitcoin service provider will be protecting both the seller and buyer.

When cryptocurrencies are finally adopted into the mainstream and allowed by the government to use it like the fiat, it will be followed by full digitalization of every transaction that uses virtual currency. The use of blockchain technology where bitcoin is based will be widened not only in the financial and business sectors but to all industries. Crypto technologies have already integrated deeply in the financial world and the level of acceptance for bitcoin and other cryptocurrencies is continue to grow. With this development, the future of the virtual currencies are bright and is ready to take off.

For the future of virtual or digital currency, maybe this currency may be reliable throughout the country, and currently there are still many countries that have not agreed with the implementation of this digital money, even in their country the payment system is already using the Visa or debit card transactions do not use money in physical form, and little difference with payment systems that use digital money like bitcoin because there is no system to manage it, so it is difficult to control it

I think, you think, people think, everyone thinks the future of bitcoin and altcoin, but no one has yet come up with the right future for it.  

the correct term is crypto-currencies not virtual because there is nothing virtual about a cryptocurrency such as bitcoin.

and when you ask generally, i can say cryptocurrencies in general will replace the legacy form of money that we are using today. in a couple of years fiat will also be in form of a cryptocurrency. and this transition is slow but it will happen since it has started already.

it is the same transition from salt, arrow heads, gold,... to coins and then paper money,... to digital form of it with credit cards and online payment processors. and this will also be replaced by cryptocurrencies. they may be centralized like fiat though. but decentralized ones such as bitcoin will still thrive.

Broadly speaking, I argue, digital currency can fix the problems that exist in paper currency.
Digital currencies such as bitcoin etc. will change the monopoly of currencies that are by the government of a country, just like the internet that changed the monopoly practices in the phone industry.

Bitcoin is the first cryptocurrency which has mass adoption and so there is high potential for this cryptocurrency to grow which can improve the world economy, another use of bitcoin is trading can be done without revealing the identity of a person and anyone involved with internet can start up with bitcoin network technology. The bitcoin network has its own protocol of 21 million bitcoins which can be created by miners but these coins can be divided into smaller units, the smallest unit of bitcoin is known as "satoshi ". Bitcoin is a revolutionary technology as it can transfer funds immediately and safely without a central authority this digitized form of currency has the potential to expand the global commerce and transform businesses as bitcoin can be transferred easily with low transaction fees.

Your opinion I very much agree, the future of blockchain technology will be limitless, but bitcoin and other virtual currency is a digital currency derived from the blockchain, I am very worried about their future, if they can not be other countries Accepted, this will be catastrophic to Bitcoin and other digital currencies.

All the things you said here can possibly happen. And also, things like bitcoin getting banned from all countries and countries accepting it can also be considered. Payments through bitcoins, credit cards for bitcoins, might exist as well.

I think that it is hard to predict future but as i see all the past data of crypto then i will say that yes it is good time for cryptocurrency and it may shine always in future. Bitcoin and Ethereum is unstoppable now.

As of the current state of cryptocurrency, Im afraid they cannot replace the credit card.  There might have some trying to but it seems it does not work the way they wanted it.  Cryptocurrency still needs a lot to improve in order to replace the services OP was talking about.  And this also needs government regulations since they will never do those stuff without the permit of government because if they do, they will be accused of not following the law.

it doesn't have to replace anything to become big. bitcoin can become big and adopted and be used for all these things you said but credit cards, banks, paypal,... also exist.

for example when PayPal first came out, there was a lot of talk about how it will replace everything money related! of course it was mainly advertisement, but still you see what i mean.

the main thing about bitcoin is that decentralized feature of it. that is why it makes it different in my opinion. and then the additional features such as security, irreversibility, low fees (not now but generally speaking),...

this is a good question. bitcoin is irreversible so it mostly protects the seller but the thing is, seller is one person or company and it is easier to solve a dispute with them because you can find them but it is hard the other way around meaning when someone uses PayPal and charges back or stolen credit card and makes a payment.

Nobody knows the future. But now one thing is clear: the crypto market is changing the world economy. The governments and banks understood the danger of crypto currency, and began to struggle with it.

As far as I know, there were 10 million out of 21 million bitcoins remain to be discovered. Unluckily, the coins which are easy to mine were  already obtained, so the remaining ones are actually hard to discover. Mining bitcoin requires powerful machine, effort, time and computing power. Currently, most people obtain bitcoin through transacting with another or just buying it with cash.

There is no certain prediction on what the future will bring. Crypto currencies are now in the process where in development and advancement are to be discovered. Bitcoin is still in the work in progress, even government are now trying to find out how adapt and oversee (even to tax) bitcoin. Because of this bitcoin hype, government has to regulate it.

I think the future of bitcoin and other cryptocurrencies will be good, and bitcoin's value will rise as everyone's focus is slowly on the bitcoin world. A lot of money to join will speed up the development of cryptocurrency world, technology will be continuously improved, you can progress faster.

I think Bitcoin can be used as a common and common payment method in the future. Although it is very expensive at this stage, I believe that its handling fee will fall and be more relevant to our life.

Like the Internet, the blockchain will be the future of Bitcoin and virtual currency, a technology that determines the future, not a technology's product

I think there is a disadvantage to it
A low-cost transactional currency, used by many people, will be very open in the future.

Bitcoin is really flawed now. You use these flaws to infer that he can not become a world currency.
 Why not? But many people overlook one important point: Bitcoin is going to evolve. He is not the immutable thing, the core.
Is a global unity, this is indeed a contradiction with national boundaries so other features of Bitcoin are used to temporarily make up for this contradiction and indeed reached a certain consensus and continue to spread why bitcoin is a totally worthless thing Trust can get so many people start to have the point of the currency attributes? The core reason is not that people do not trust the government to spam banknotes, but that they need a unified currency in a world where countries trade with the rest of the world. I want to buy Japanese products, you do not support the RMB ah, trouble, if we all use the same, I can easily buy all kinds of goods in various countries, then the world's commercial development economy will enter a landmark golden age, and finally may lead to the world Uniform government unified law, the great unity of the peoples of the world! This is the result of the development of productive forces. Borders will be crushed slowly in frequent transactions. Opening up is kingly. The unification of currencies is a good start! Anonymous problems, the regulation is not enough, the number is too small can continue to improve the evolution of bifurcation to match the status quo, it is alive and will continue to move closer to the world currency, not a developer decision, not a miners decision, This thing is decided by the development of the entire world.