No.
There is a tendency to believe that bitcoin is the solution to "x" situation, it is actually just an asset that contains a powerful message.
Its value, its technology, etc., including its influence on other cryptocurrencies and on Fiat themselves, are essentially only part of the message, but it seems to be the brilliance that some want to see, and with good reason.
The great value that Bitcoin has and has had since its inception has been trust, if two users had not had the trust, Bitcoin would not have been what it is and will continue to be as an asset.
Bitcoin has to be interpreted as the social message that if confidence-based consensus can be achieved, we can demand global economic and social change.
The cryptocurrencies of the future must be a fair currency that establishes a social balance from the beginning and that offers equal opportunities to all. Sharing the profits of each country among its citizens is possible and they decide how to invest how these resources are spent and are supervised.
In short, it is a cryptocurrency that does not currently exist based on a social and economic system that does not exist either, but that bitcoin has the clear message that it is possible.
Topic: Will bitcoin be the ideal currency of the future? - page 7. (Read 1641 times)
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.
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.
When I pay for something with Bitcoin the other side doesn't know my name so it is private in that matter.
To fully use the privacy it offers you have to buy it from someone else in person, mine it or earn it. You cannot use a centralized exchange.
•Decentralized
These are the main features on why bitcoin is being supported by big community due to that p2p system that there no 3rd party involved
which totally contrary on what we have used traditionally with fiat but i dont see for it to replace fiat soon just like what been said by
some people.Being optimistic isnt bad but they should be at least realistic.
This post contains so many errors, I don't know where to start.
Bitcoin is not private under any circumstances. If I buy BTC from someone in person, the seller can track my payments.
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.
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.
When I pay for something with Bitcoin the other side doesn't know my name so it is private in that matter.
To fully use the privacy it offers you have to buy it from someone else in person, mine it or earn it. You cannot use a centralized exchange.
•Decentralized
These are the main features on why bitcoin is being supported by big community due to that p2p system that there no 3rd party involved
which totally contrary on what we have used traditionally with fiat but i dont see for it to replace fiat soon just like what been said by
some people.Being optimistic isnt bad but they should be at least realistic.
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.
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.
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.
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.
When I pay for something with Bitcoin the other side doesn't know my name so it is private in that matter.
To fully use the privacy it offers you have to buy it from someone else in person, mine it or earn it. You cannot use a centralized exchange.
Maybe, if one day the development is evenly distributed, the government has the best solution to develop with cryptocurrency, this might be a good alternative.
But the government DID create Bitcoin. You know that right? Oh yeah, I forgot they don't cover that on CNN.
Everybody can’t make use of Bitcoin. For a start, a lot of these billionaires and millionaires will buy up the cryptocurrency and the majority who are poor wouldn’t have anything left. That aside. If it happens that we all start making use of cryptocurrency, there are some ways that it’s not going to be good. With cryptocurrency people will be able to do whatever they want and they will hardly be a means to trace them.
It is a decentralized currency and no one can control it, which means the government will also not be able to control it. I know that a lot of us here don’t like the fact that fiat is being controlled by the government. The control is important, except that they tend to misuse it.
Exactly. Although bitcoin and other cryptocurrency have more advantages related to transparency, speed, transaction security, etc. but this niche cannot touch the entire community. Only limited to certain communities. In addition, high volatility makes cryptocurrency less effective as a means of payment. Facilities and infrastructure to be connected with technology and the internet must be adequate. Maybe, if one day the development is evenly distributed, the government has the best solution to develop with cryptocurrency, this might be a good alternative. It is a decentralized currency and no one can control it, which means the government will also not be able to control it. I know that a lot of us here don’t like the fact that fiat is being controlled by the government. The control is important, except that they tend to misuse it.
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.
An ideal currency must be like cash and allow the user privacy. Bitcoin does not, and will never, have this ability.
I'll just say that "NOT SURE" about its future.
We can't deny how people give their approach and market appreciation in crypto. The adoption isn't really stronger as we think before, even during the pandemic we can't still find that the support resistance and adoption rate still low. People are giving interest for sure but wondering they change their mind because not all establishments are accepting this, they are still be looking fiat instead.
People want to have or to buy bitcoins but majority of them have different purpose which is simply investing, there are only few people who view bitcoin as a new payment system that can replace our current system. There is now a adoption but it is too slow, the people nowadays are still focusing to buy things through cash. One of the problems why we do not have successful adoption is because of the lack of education where many people are still not aware to what it is and how to use it. We can't deny how people give their approach and market appreciation in crypto. The adoption isn't really stronger as we think before, even during the pandemic we can't still find that the support resistance and adoption rate still low. People are giving interest for sure but wondering they change their mind because not all establishments are accepting this, they are still be looking fiat instead.
Everybody can’t make use of Bitcoin. For a start, a lot of these billionaires and millionaires will buy up the cryptocurrency and the majority who are poor wouldn’t have anything left. That aside. If it happens that we all start making use of cryptocurrency, there are some ways that it’s not going to be good. With cryptocurrency people will be able to do whatever they want and they will hardly be a means to trace them.
It is a decentralized currency and no one can control it, which means the government will also not be able to control it. I know that a lot of us here don’t like the fact that fiat is being controlled by the government. The control is important, except that they tend to misuse it.
It is a decentralized currency and no one can control it, which means the government will also not be able to control it. I know that a lot of us here don’t like the fact that fiat is being controlled by the government. The control is important, except that they tend to misuse it.
I don't think that it would be possible in future, even though cryptocurrency has been used by so many people around the world, even though it is really helpful for everyone who is using it, it cannot still be a standard currency in the future because as what we all know it is decentralized, which means it cannot be handled by the government and its volatility makes it not suitable to be used for daily lives.
I think cryptocurrency is only good as an alternative currency for fiat currency, it is meant to be converted to fiat currency whenever we want to.
Most likely, everything will be so, the main property of any currency is stability, when both the buyer and the seller know the approximate cost without additional sources. And with cryptocurrencies there can be very strong fluctuations, and without tracking the course for a couple of days, you can lose a lot.I think cryptocurrency is only good as an alternative currency for fiat currency, it is meant to be converted to fiat currency whenever we want to.
I think not. Bitcoin is an idea. But we need something new. Something more universal.
I'll just say that "NOT SURE" about its future.
We can't deny how people give their approach and market appreciation in crypto. The adoption isn't really stronger as we think before, even during the pandemic we can't still find that the support resistance and adoption rate still low. People are giving interest for sure but wondering they change their mind because not all establishments are accepting this, they are still be looking fiat instead.
We can't deny how people give their approach and market appreciation in crypto. The adoption isn't really stronger as we think before, even during the pandemic we can't still find that the support resistance and adoption rate still low. People are giving interest for sure but wondering they change their mind because not all establishments are accepting this, they are still be looking fiat instead.
-- We are also aware that not every country and not every individual in that country can afford to have Bitcoin, more or less use it and put it into action. Poor families and third world countries are actually relying more on easy, fast, and convenient money to have. Even though Bitcoin promises a huge amount of money, people would still go with fiat to buy rice on a simple store.
True, the issue of adoption and effectiveness for use at all levels of society is still not optimal. Moreover, bitcoin is very volatile, it is enough to make it not ideal as a currency. I agree if bitcoin is used as an alternative currency to support fiat shortages, however, we must take advantage of this technological progress, but that does not mean it must impose an environment that is still not ready to fully accept changes. 
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.
Unfortunately I do not think there is any ideal currency , it depends upon the user , actually there are many things one needs to consider .
If the other party is willing to accept it , if they have to exchange it and go through procedures , if they are able to work with technology are just very few examples.
One cannot always use the same currency everywhere , volatility and other factors will always be there and especially in pandemic when people are facing tremendous losses , even the stable currencies are dwindling.
I do think it would be a very important currency in the future , but the ideal currency no.
I do not think there will be any ideal currency , all are important someway or the other .
If the other party is willing to accept it , if they have to exchange it and go through procedures , if they are able to work with technology are just very few examples.
One cannot always use the same currency everywhere , volatility and other factors will always be there and especially in pandemic when people are facing tremendous losses , even the stable currencies are dwindling.
I do think it would be a very important currency in the future , but the ideal currency no.
I do not think there will be any ideal currency , all are important someway or the other .
Bitcoin can use any algorithm but it will never be considered the currency of the future. Please believe me, bitcoin is very volatile and we humans will never want to keep bitcoin to spend. because we can be rich or poor in just a few hours!
I know that you are holding bitcoin a lot and want it to have great value to become rich. But be alert and analyze thoroughly. It is very difficult to become rich in a short time when Bitcoin once had a strong growth.
Your biggest mistake here is that you are still measuring one currency through the prism of another. If the price of bitcoin is still counted in dollars then bitcoin is yet to be currency of the future. If it is not a currency of the future, then it doesnt't matter whether it is volatile or not. Such a comparison becomes irrelevant from the very beginning. If bitcoin is widely spread and adopted then its volatility tends to zero, then there will be a chance for bitcoin to become the currency of the future because of that. From that logic, in order for bitcoin to become new reserve currency, it firstly needs to be adopted by many people and then we need to stop measuring the price through old tools and obsolete currencies. I know that you are holding bitcoin a lot and want it to have great value to become rich. But be alert and analyze thoroughly. It is very difficult to become rich in a short time when Bitcoin once had a strong growth.
When I say ideal I mean:
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?
One of the good things that bitcoin has is that it is not a static currency that has stayed the same since satoshi created it, on the contrary it has been updated regularly and in the case the cryptography behind bitcoin is at risk of becoming vulnerable the developers will update the code when it is necessary so I will not worry about such thing, however even if bitcoin becomes one of the best currencies around the world I do not see it becoming an ideal currency because that depends entirely on your perspective of what ideal really means, for example a decentralized currency is great for people like us that think governments should not have as much power, but do you think governments agree with that? - 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?
Far from being an ideal one. For sure, it is much better than fiat, but not really ideal. I cannot say whether an ideal currency will arrive anytime in the future, or perhaps an ideal currency depends on a particular era or even among people, but I know that an ideal currency should be completely smooth and without any inconvenient glitch. Bitcoin is quite far from that. For example, ideally, I prefer my transactions to be instant. I also don't want to pay a fee for spending my money. I also don't want people to know how much money I have in my wallet.
Everyone has a different perspective as regards to what makes something ideal. Just as you have stated your own features for ideal currency, so many others may not have problem with this, for instance, the privacy as regards to not wanting people to know how much you have and also not paying transaction fee for spending your own money. Indeed bitcoin is not perfect, there are still some deficiency of bitcoin. But it is still ideal as a substitute for fiat in the future. The problem
is that the government will never approve bitcoin as payment or replace fiat. Because the government cannot control bitcoin,then if bitcoin
cannot be controlled it certainly cannot get taxes from bitcoin. Conclusion bitcoin cannot be a global currency in the future, the most likely
bitcoin would be an alternative currency.
The scaling is the biggest issue to void it as a global currency as you cannot expect a million transaction to take place every hour and until we have a solution for that you cannot expect everyone to jump into the ship just because it is a new technology, the investors we have right now can be of two category. is that the government will never approve bitcoin as payment or replace fiat. Because the government cannot control bitcoin,then if bitcoin
cannot be controlled it certainly cannot get taxes from bitcoin. Conclusion bitcoin cannot be a global currency in the future, the most likely
bitcoin would be an alternative currency.
- one they like a decentralized currency
- second who loves the volatility as a means of speculative market
Bitcoin is already an alternative to fiat and in the future we will see a global adoption hoping that we will have rapid development in the next ten years.
Jump to: