Topic: Will bitcoin be the ideal currency of the future? - page 3. (Read 1649 times)
Others crypto could be but bitcoin will never achieve Visa level TPS
More and more cryptocurrencies were getting developed over different platforms with varied usability. Among this, very few succeeds. Right now we've got more than 5500 cryptocurrencies in the market. In terms of usage we've got bitcoin to be the dominant one. Based on this without doubt bitcoin will serve as the ideal currency of the future.
Years back people were in dilemma whether to use bitcoin or not. Now with more and more legalization of cryptocurrencies by governments people started to use it.
Years back people were in dilemma whether to use bitcoin or not. Now with more and more legalization of cryptocurrencies by governments people started to use it.
I think it is possible that bitcoin will be the ideal currency of the future but it will takes long time to happen, as of now many are still confident to use fiat money and trusting traditional banks to invest.Because it is centralized and supported by the government that's why they trusted it more than cryptocurrency.
I think bitcoin will actually be the ideal currency of the future but it will take a very long time for that to happen, because in this Present time the banks and the fiat currency has the greatest power since it's been supported by the government, and many people trust the banking system which is centralized, and there sees the decentralized system as a scam.
I think bitcoin cannot be an ideal currency of the future because it is volatile,the value is not stable and also you need to consider the speed of making transactions and the transaction fees. Banks are very simple in terms of transaction and it will not disappear because almost all people using banks even those who used bitcoin and other cryptocurrency. Our fiat money will not replace with bitcoin in an easy way because government has an authority over it unlike in bitcoin they cannot control it because it was decentralized. For every transaction transparency is very important to the government.
Still far from being an ideal currency, I think bank will still exist in the future because you know government... There are so much to think of to achieve the ideal currency because we still don't have it right now. Fiat and btc has its problems, and between the two, fiat is still the efficient one, and people will still choose the efficient one. Volatility, private keys, slow transaction with low fee etc is a problem in btc, and I am not including the image btc has as currency being used illegally.
Banks will also exist because there are no viable ways of taking bitcoin loans and loans are the most important factor behind a successful banking.
Fiat is also used illegally. This is one of the things you cannot change or control. Even credit cards can be copied and modified to be used illegally. Bank accounts can be made with fake IDs. Talking about it like it's a disadvantage of Bitcoin is a waste of time.
See BTCs was the first crypto currency and everyone is dieing to know about BTCs and trying to get there millions of posts about BTCs, the important thing is that bitcoin network now involves more computing power than all the super computers of the world. Probably billions of CPUs so in future this is the best thing that everyone would be knowing and would love to buy BTCs
At this moment, we can think of Bitcoin being an ideal currency, yes. Although I believe more in the future when technology become powerful, especially quantum computing. With quantum computing, people can decrypt the Bitcoin address so that Bitcoin isn't safe anymore.
Please correct me if I'm wrong, I believe the algorithm to generate Bitcoin addresses aren't completely impossible to reverse, it's just really hard, practically impossible to do it with the current computing power.
Please correct me if I'm wrong, I believe the algorithm to generate Bitcoin addresses aren't completely impossible to reverse, it's just really hard, practically impossible to do it with the current computing power.
This is very technical, average investor would not be able to absorb your idea especially the "quantum computing'.
I believe most investors just trust the system, they believe it's safe and they can invest on it and it's a good investment for long term, being a currency in the future, I think it could only be an alternative even if it will gain a massive adoption.
At this moment, we can think of Bitcoin being an ideal currency, yes. Although I believe more in the future when technology become powerful, especially quantum computing. With quantum computing, people can decrypt the Bitcoin address so that Bitcoin isn't safe anymore.
Please correct me if I'm wrong, I believe the algorithm to generate Bitcoin addresses aren't completely impossible to reverse, it's just really hard, practically impossible to do it with the current computing power.
Please correct me if I'm wrong, I believe the algorithm to generate Bitcoin addresses aren't completely impossible to reverse, it's just really hard, practically impossible to do it with the current computing power.
it would be cool to have BTC and pay them wherever you can, but like real money they can be stolen from your wallet. so you should not hope
Bitcoin wallet can't be hacked or your bitcoins can't be stolen by someone unknown if you haven't fallen in their trap in downloading any software or giving them the details of your wallet. You can pay to whoever you want with bitcoins and there aren't any boundaries to the bitcoins transactions also it is pseudonymous and no one can block your wallet from doing transactions. So yes I think it is the ideal currency for the future and also the decimal places can also be increased to cope up with the limited supply problem.
Btc was originally design by Satoshi as a digital currency to be a second option for transaction, and so far btc has been used by many for this purpose, so I do think btc perhaps will be the most used currency in the future although nobody knows what the future holds.
One way or another, Bitcoin is the best tool in the future for most electronic payments. Based on this, interest in Bitcoin will rise along with its value, since the increase in the number of Bitcoin users will be global. But on the way to Bitcoin, before recognizing it as a means of payment, it is precisely volatility that is why not only politicians, but most importantly, many investors should reconsider their attitude to Bitcoin so as not to use it only as a speculative tool.
Yeah, bitcoin will be ideal currency of the future and I trust it. Day by day the popularity of its increase. In my opinion one day every development country will accepted bitcoin.
I think this depends since each and everyone has had a different idea of how should be a currency be ideal. Most of us want it to be decentralized, other doesn't want it. We prefer a lot of things so I think we should be taking it to that argument. The question here is will bitcoin be used as a currency even though it is decentralized and volatile. Ideal or not, bitcoin has its good sides that will make people consider using it as a currency.
it would be cool to have BTC and pay them wherever you can, but like real money they can be stolen from your wallet. so you should not hope
I think that in decades, people will really learn how to crack Bitcoin wallets, so the excellent future of Bitcoin is still in doubt. But I'm sure that everything will change.
Still far from being an ideal currency, I think bank will still exist in the future because you know government... There are so much to think of to achieve the ideal currency because we still don't have it right now. Fiat and btc has its problems, and between the two, fiat is still the efficient one, and people will still choose the efficient one. Volatility, private keys, slow transaction with low fee etc is a problem in btc, and I am not including the image btc has as currency being used illegally.
Bitcoin is still quite far from being ideal. But very soon the loop holes in bitcoin and other cryptocurrencies will be fixed.
Bitcoin may or may not be a widely used form of money in the future, but its advantages as a store of value and safe haven against fast-depreciating currencies are undeniable. Much like gold before it, economic volatility and inflation drive the demand for Bitcoin.
The demand for Bitcoin is higher than the price of gold and the gold market goes down due to inflation but it does not have any effect on the Bitcoin market Bitcoin survives based on demand. Bitcoin will be considered as a much better currency an ideal currency for the future.
I think it's still a long process before it become an ideal currency. But only future can tell what will happen in bitcoin. For,now if we think of it,there are many things we need to consider about bitcoin. The transaction fee is to high and it takes hour for transaction to complete. It needs both public and private key. It needs internet connection always to transact. It's complicated for the adult people to use. It was far different from our fiat money. It was digital and we can't hold it like a paper money. But of course it was very useful as a digital currency specially this pandemic situation. We are lucky to have a digital currency like bitcoin.
I think that BTC lacks the useability to turn into an everyday currency... I do agree with some of your points mainly in relation of store of value, but the lack scalibility (for billions of users) and the transaction cost and time (it remains to be seen if the LN will be widely adopted and if it really works) tackle the possibility to use it as an everyday currency...
As for control... at the moment the market is small, so we have seen some examples of whale action....
As for control... at the moment the market is small, so we have seen some examples of whale action....
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