Will bitcoin be the ideal currency of the future? - page 6.

AniviaBtc

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Quote from: The Cryptovator on April 23, 2020, 01:54:06 AM

Quote from: BlackHatCoiner on April 22, 2020, 12:46:56 PM

You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?

Bitcoin has been created more than 10 years ago, have you found anyone had brute forced private keys? I am not sure if it's possible even with quantum computer system. But I believe if it happened then there will be something to prevent it. I don't believe it would be spoiled by humans since. Don't feel that bitcoin or crypto industry will be spoiled very easily since there is big community for it.

Regarding your concern about ideal currency is quite complicated since there is no bitcoin existence on real life and worldwide governments don't want to support it due to many reasons. Most probably we would see more advance and ideal currency in future which would exist even on real life, but who know about future.

I think that this bitcoin can be an ideal currency in the future, but the question is when? These days, fiat currency is really effective and the most useful currency that the community is using. Fiat currency is not that easy to steal compared to a bitcoin that can be hacked, and lose due to wrong addresses. Also mass adoption is not that easy to acquire especially that's why most of the government in this world is still not legalizing the bitcoin to regulate in their market. Bitcoin can help an economy grow once it is in its peak but we all know that it is very volatile compared to other coins. So in conclusion, I will still choose fiat over bitcoin as a mode of payment in many transactions because digital currency is only useful during this kind of pandemic that doesn't require people to have physical transactions.

XenoFever

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Well said, there is always an ideal currency for every perception in the life of different people, some can be possible and some are not. Cryptocurrency as an ideal currency can really be possible in the near future, as technology evolves, things get more complicated and bitcoin will be more known by many countries and to the benefits that bitcoin has been giving to us could be a factor to be considered as an ideal currency.

amishmanish

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Quote from: MicroGuy on May 02, 2020, 07:44:54 PM

My point is that the ideal currency must include privacy. This prevents any agency or individual from tracking payments on the ledger.

You have no point because Bitcoin already has privacy. You just need to know how to use it. If an agency is otherwise hell-bent on tracking your payments, they already will.

Quote from: MicroGuy on May 02, 2020, 07:44:54 PM

The banking system has now hijacked this project and crippled its core features. I do think it will make an excellent tracking system and settlement layer for its new controllers.

Nobody has hijacked anything. It works the way it always has and was meant to. Your re-hashing troll arguments after spending years in Alt-exile is just a sign of your regrets and possible resentment against bitcoin. Sorry for your loss and sorry that bitcoin doesn't care.

metenjean

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Will be bitcoin ideal currency at the future because look potential to higher price and many interested from investor until company want to accept bitcoin as legal currency payment transaction, but when bitcoin down many people panic and sell bitcoin with lower price.

MicroGuy

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Quote from: pixie85 on May 02, 2020, 05:00:30 PM

What does the fact that governments cooperate have to do with NSA and their alleged creation of Bitcoin?

My point is that saying that Bitcoin was created by the NSA not only gives too much credit to the NSA but also puts USA on the podium as the country of origin. Even this was never proven!

Also, the agency has no jurisdiction outside the US and as it happens, most of the world is outside of the US and most people do not care what the NSA does.

My point is that the ideal currency must include privacy. This prevents any agency or individual from tracking payments on the ledger.

The banking system has now hijacked this project and crippled its core features. I do think it will make an excellent tracking system and settlement layer for its new controllers.

But it's certainly not, and never can be the ideal currency.

pixie85

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Quote from: MicroGuy on April 29, 2020, 06:23:06 PM

Quote from: pixie85 on April 29, 2020, 04:54:18 PM

Quote from: MicroGuy on April 28, 2020, 06:51:35 PM

Quote from: pixie85 on April 28, 2020, 06:37:47 PM

Quote from: MicroGuy on April 28, 2020, 05:44:36 PM

This is an obvious NO. Just as horse and carriages are not ideal modes of transportation.

An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.

Bitcoin is transparent but it's also private.

Bitcoin is not private. The NSA created it with the intent purpose of tracking payments globally.

So you're one of those conspiracy theorists Roll Eyes

Does it really matter if the NSA, an institution with no global jurisdiction, finds out that someone from Austria sent some money to someone in Russia? What are they going to do with that information, not knowing what the payment was for?

Do you not think that governments cooperate? I think you might want to rethink your ideas if that's your definition of privacy and freedom.

What does the fact that governments cooperate have to do with NSA and their alleged creation of Bitcoin?

My point is that saying that Bitcoin was created by the NSA not only gives too much credit to the NSA but also puts USA on the podium as the country of origin. Even this was never proven!

Also, the agency has no jurisdiction outside the US and as it happens, most of the world is outside of the US and most people do not care what the NSA does.

tanjiran

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Quote from: BlackHatCoiner on April 22, 2020, 12:46:56 PM

When I say ideal I mean:
---

You can send/receive the currency really quickly.

I do not agree with this, because transactions using e-money or PayPal are faster, I feel, the adoption is even wider. If we want to compare this delivery system, we can see the ideal side of a transparent system and an uncomplicated administration. Usually, if we send a lot of money, there are administrative requirements that must be met if using a conventional system, privacy is not guarded, especially if the bank knows you have a lot of funds, usually there are offers that you don't want, IYKWIM.

farukahmed

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Bitcoin is our standard coin. We can say that this bitcoin will be used as a standard coin all over the world. This bitcoin is the easiest way to make all purchases, transactions and banking transactions with this bitcoin all over the world. So I want to say that bitcoin is applicable for Bangladesh. If not, it's a big deal for other countries but we want to say that this bitcoin should be introduced in all countries of the world. Some wallets are used in this bitcoin transaction like wallet. We can transact very easily with these so it is an ideal currency for us.

Mulann2

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Is btc the ideal currency as of now! I think you will find some clue by start asking yourself that question, besides, nobody is a time traveller that can tell what the future look like and what currency can work perfectly by then, who knows maybe in future more technical advancements will be available which can make btc not an ideal currency for the future.

qory

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Bitcoin become ideal payment currency at the future because could stable and never have inflation value, depend with using money where less value several years later bitcoin can guarantee for people use it for currency payment will get much benefit with bitcoin can growing up to higher price.

South Park

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Quote from: Em00n01 on April 27, 2020, 03:00:28 PM

I am not fully agree with you. This is not the definition of ideal currency also sometimes Bitcoin is manipulated by whales. But what i can say is Bitcoin is a good alternative currency for future.

Without a doubt that is what the biggest problems with bitcoin, there are whales that have such a huge number of coins that they can do whatever they want with the market and that is never a good thing, and if the price of bitcoin keeps increasing then they are going to have even less of a reason to sell their coins and if anything if they keep manipulating the market they will become even bigger as time passes, so I do not really see how to resolve this issue with bitcoin which could slow down adoption in the future.

Asusnumbaone

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Quote from: BlackHatCoiner on April 22, 2020, 12:46:56 PM

When I say ideal I mean:

People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
Over time, it will still have value.
It cannot be spoiled by human.
It is decentralized, no one controls it.
You can send/receive the currency really quickly.

These are some basics requirements for the ideal currency. But I have a question. There are public and private keys out there. You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?

Should bitcoin use SHA512? Or something even stronger?

Bitcoin is the currency in the online world when the time comes i think bitcoin will be the main currency the will be used. For now many of the investors prefer to invest in bitcoin they forsee the future of the bitcoin as main source of income

Distinctin

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Yes Bitcoin is the best future for all of crypto holder. I can say that we will take this time and get for another reason. I have some Bitcoin dollar hold for next some years days by some currency is ideal currency in the future.

Maybe you overly think about it. Maybe it was sorry that Bitcoin can't be ever an ideal currency in the future if the same thing has happening today will be the same in the coming days. Quiet there is no big change around crypto, it is only the price varies all the time for some reason but it never gives change to the eye of the people and as well as their perspective.

Bitcoin could be just considered as the best asset that any person can hold but looking it to be fully considered as a currency and use it...I shouldn't think it by now.

MicroGuy

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Quote from: Farma on May 01, 2020, 08:10:39 AM

Bitcoin being used as the ideal currency.

Unless we can get another hard fork in that will never happen, since the ideal currency must include privacy.

Farma

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Quote from: tbterryboy on April 30, 2020, 10:32:09 AM

Bitcoin is a good choice, but you already know the government, when they can't regulate it they will start looking for ways to take it down. I am happy that some countries have been supporting and allowing their citizens to make use of Bitcoin without any restrictions. And as for those that have banned it, I hope that they come to understand that Bitcoin is meant for a good purpose and also allow people to be making use of it.

Since, last year there has been news about countries that are planning to create their own cryptocurrency. I don't know what's going to happen once these countries create their own cryptocurrency, whether they are going to allow the use of it Bitcoin or not.

yes, bitcoin is indeed very good, but that does not mean ideal. there are still quite a lot of rejections received by bitcoin from the government. the most basic thing, which makes it rejected is, the price is uncertain. This makes bitcoin more preferred as an investment tool by most people, and also as a trading tool. Yeah, but I look forward to Bitcoin being used as the ideal currency.

tbterryboy

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Bitcoin is a good choice, but you already know the government, when they can't regulate it they will start looking for ways to take it down. I am happy that some countries have been supporting and allowing their citizens to make use of Bitcoin without any restrictions. And as for those that have banned it, I hope that they come to understand that Bitcoin is meant for a good purpose and also allow people to be making use of it.

Since, last year there has been news about countries that are planning to create their own cryptocurrency. I don't know what's going to happen once these countries create their own cryptocurrency, whether they are going to allow the use of it Bitcoin or not.

Yamifoud

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If we are talking about being considered IDEALy, it could be possible but we are still far from that point. Look at today, we think that the current situation will bring people to adopt the system but unfortunately, they are usually ignoring instead they are selling their Bitcoin for FIAT. And that could possibly be happening again in the future. May we saw people love doing cashless payment but it was obvious that they are not using crypto/bitcoin, they are still using fiat money.

rodskee

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Bitcoin is the Future Of Cryptocurrency because economic analysts predict a big change in crypto is forthcoming as institutional money enters the market. We know that Bitcoin is a digital currency created in January 2009 day by day bitcoin price is rise. it is possible to pay for goods and services with Bitcoin both online and offline, but it is only accepted by a minority of merchants so i think its the best for future.

Actually the thread talks about the world currency and not just for crypto meaning the battle from Fiat to Crypto is on in this thread mate if you will
Only read the topic and the OP,but i think your point is valid in this one.
And it is not only the analysts can tell the true
Because we as users for years now knows how this cryptos are promising and
Also the right way to attract our family and friends to enter and invest in this market.
What I believe more is that sooner for the next years we will see the effect specially after this Covid-19
Case because more people now are trying to learn about this crypto currencies .

MicroGuy

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Quote from: pixie85 on April 29, 2020, 04:54:18 PM

Quote from: MicroGuy on April 28, 2020, 06:51:35 PM

Quote from: pixie85 on April 28, 2020, 06:37:47 PM

Quote from: MicroGuy on April 28, 2020, 05:44:36 PM

This is an obvious NO. Just as horse and carriages are not ideal modes of transportation.

An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.

Bitcoin is transparent but it's also private.

Bitcoin is not private. The NSA created it with the intent purpose of tracking payments globally.

So you're one of those conspiracy theorists Roll Eyes

Does it really matter if the NSA, an institution with no global jurisdiction, finds out that someone from Austria sent some money to someone in Russia? What are they going to do with that information, not knowing what the payment was for?

Do you not think that governments cooperate? I think you might want to rethink your ideas if that's your definition of privacy and freedom.

pixie85

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Quote from: MicroGuy on April 28, 2020, 06:51:35 PM

Quote from: pixie85 on April 28, 2020, 06:37:47 PM

Quote from: MicroGuy on April 28, 2020, 05:44:36 PM

This is an obvious NO. Just as horse and carriages are not ideal modes of transportation.

An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.

Bitcoin is transparent but it's also private.

Bitcoin is not private. The NSA created it with the intent purpose of tracking payments globally.

So you're one of those conspiracy theorists Roll Eyes

Does it really matter if the NSA, an institution with no global jurisdiction, finds out that someone from Austria sent some money to someone in Russia? What are they going to do with that information, not knowing what the payment was for?

Topic: Will bitcoin be the ideal currency of the future? - page 6. (Read 1649 times)