Topic: Your thoughts about Bitcoin in years to come (Read 516 times)
It is very true that some regions of the world will not be affected if there is no crypto in their economy, because the people living there are not aware of it.
legendary
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What will life after the dump of fiat looks like?
What is your prospect about Bitcoin in the next century?
What is your prospect about Bitcoin in the next century?
Neither the fiats or banks are going anywhere in the next decade or so, we're yet to achieve full global adoption and that's just the sad truth. As an enthusiast I want the best for the industry just as majority of us do but we can't achieve this by just hoping. The fiats will just be deployed digitally that's the best the government can do. Already we seen news of some countries developing their own digital currency and soon other countries will follow through as they won't be giving up power so easily.
The flats will be with us for a very long time so there won't be any need of fantasizing how life will be without them, even if that was to happen that wouldn't be in our generation or that of our children maybe the next generation. The world is going digitalized and so will currency but its centralized features will still be constant.
Both Bitcoin and fiats can coexist, then we're free to use that we have trust in more but know this, the government will keep portraying Bitcoin as the bad guy.
Once BTC reaches 100k, the market is going to expand. Many would start using it as an asset and currency as well. Govts around, should open themselves to welcome crypto currency in their countries as a payment and we all will be seeing ATMs for BTC and for other crypto currencies as well.
Those who pile up their pocket with more BTC , will certainly earn more money.
Those who pile up their pocket with more BTC , will certainly earn more money.
legendary
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I am new to the Bitcoin but I am having a conviction that Bitcoin is going to rule the world very soon seeing the may people are approaching Bitcoin every single day to invest in it. I may not be correct now but I know some day every nations of the world will dump the paper money and go for something better like the Blockchain world in running business and everything.
Bitcoin and the Blockchain interface is changing the world entirely into a better cycle that will reduce stress we do undergo in bank when we need our money. The library, market, store, Fast food, transactions are now turning into digital which will help the Blockchain and the Bitcoin market to spike more than what we are seeing now.
What will life after the dump of fiat looks like?
What is your prospect about Bitcoin in the next century?
Personally, I see bitcoin, blockchain and crypto currencies in general as God's way of liberating his people from all the oppressions and manipulations of our leaders, God has through blockchain technology removed power in the hands of our leaders and given it back to the people.Bitcoin and the Blockchain interface is changing the world entirely into a better cycle that will reduce stress we do undergo in bank when we need our money. The library, market, store, Fast food, transactions are now turning into digital which will help the Blockchain and the Bitcoin market to spike more than what we are seeing now.
What will life after the dump of fiat looks like?
What is your prospect about Bitcoin in the next century?
And this is why I totally believe that, be it china, america or any other country in this world, non of them can stop this revolution, blockchain and bitcoin is here to say, their banning can only affect the market for a short time, like what we recently experienced when China claimed to have banned all crypto transactions calling them illegal, bitcoin went down, but today, it's up more than over 30 percents, which shows that their ban or any other countries ban does not really have any effect, bitcoin and crypto in general has not arrived at all.
Governments are already intervening because they are scared of what bitcoin could achieve. China banning it eight times.* The US government passing draconian and impossible-to-comply-with reporting laws.
China banning bitcoin 18 times according to this article https://www.wired.co.uk/article/china-ban-bitcoin-cryptocurrencies Governments are starting to get serious about banning bitcoin so this is the answer to what this thread is all about, bitcoin to rule the world and dumping the paper money, it is still hard to realize if that will happen one day because other country like China are now declaring it illegal. *Is it eight? Is it more? How can you ban something eight times? All you are doing when you ban something multiple times is proving that every time you've tried to ban it you have failed. Such is the censorship resistance of bitcoin.
https://www.google.com/amp/s/fortune.com/2021/09/27/china-bitcoin-ban-crypto-crackdown-price/amp/ It is said in this article that China is getting serious right now about banning bitcoin, no room for discussion, no gray areas. I agree with you, Banning it multiple times clearly denotes that bitcoin has the potential to destablized the existing financial infrastracture that the governments are wary about it. The government use its power to prevent anything that is threat to their governance, how can ordinary people resist? but if people prefers to use bitcoin over fiat I doubt government would not intervene.
Governments are already intervening because they are scared of what bitcoin could achieve. China banning it eight times.* The US government passing draconian and impossible-to-comply-with reporting laws. But the efficiency of the use of the blockchain technology might be the primary reason why governments and their central banks will embrace it.
A blockchain is only efficient when you need a distributed database. If you are going to have control centralized to a single party, such as a commercial bank's individual ledger of customer balances, or a central bank's balance sheet, or a government's accounts, then you don't need a blockchain. A standard centralized database is far more efficient in these cases.*Is it eight? Is it more? How can you ban something eight times? All you are doing when you ban something multiple times is proving that every time you've tried to ban it you have failed. Such is the censorship resistance of bitcoin.
Fiat will evolve itself. It will definitely take a lesson or two from Bitcoin's success. It might one day become a currency built on blockchain.
I doubt it will ever be based on a blockchain, or if it is, it will be a blockchain which is entirely centralized and entirely under governmental and/or central bank control. There are multiple proposals and plans for central bank digital currencies working their way through various stages of exploration, planning, legislation, etc., around the world, but they all have one thing in common - they are entirely centralized. There is no way the government or the central banks will give up the one thing that keeps them functioning and solidifies their power, which is the ability to print money and control its circulation.Yeah, of course, of course. It is going to be centralized. That's 100% expected from the government not only because the control over money is the source of all power but because the current economic structures are highly founded upon a system in which the government has the authority over monetary decisions. Otherwise, the entire economic paradigm has to shift. But the efficiency of the use of the blockchain technology might be the primary reason why governments and their central banks will embrace it.
Fiat is much more easily manipulated. The difference is that it is the government which can manipulate fiat, which of course the government thinks is absolutely fine. But if you introduce a currency for the people that the government can't manipulate, such as bitcoin, well then the government starts to take issue with it.
Yes I agree that fiat money can be manipulated like if the government will print too much and we will have excessive money supply then hyperinflation might also occur. However fiat money became only valuable because the government says it does and people agree and recognize its value and use it as a currency. It is the same with bitcoin, people believe it so hence the demand continues to grow but if people prefers to use bitcoin over fiat I doubt government would not intervene. 
Guys, be aware that the world is ruled by politicians and not ordinary people, and what politicians do not want at all is the loss of control over all aspects of our lives.
I'm sure they don't like bitcoin for the simple reason that they have no control over it, but because of the great popularity of bitcoin in the public, they are forced to tolerate it and regulate it to some extent.
Given the obvious benefits of digital currencies, I'm sure we will see the digital euro, digital dollar, digital yuan and many other national currencies in the future.
Bitcoin will remain an alternative but I'm sure it's not realistic for bitcoin to replace these other popular world currencies, for the simple reason that politicians and bankers will never accept it.
For business people, bitcoin will always be unacceptable as a means of payment due to a lack of legal protection and central control.
I'm sure they don't like bitcoin for the simple reason that they have no control over it, but because of the great popularity of bitcoin in the public, they are forced to tolerate it and regulate it to some extent.
Given the obvious benefits of digital currencies, I'm sure we will see the digital euro, digital dollar, digital yuan and many other national currencies in the future.
Bitcoin will remain an alternative but I'm sure it's not realistic for bitcoin to replace these other popular world currencies, for the simple reason that politicians and bankers will never accept it.
For business people, bitcoin will always be unacceptable as a means of payment due to a lack of legal protection and central control.
I know some day every nations of the world will dump the paper money and go for something better like the Blockchain world in running business and everything.
It's very possible that in the near future, no fiat money will exist in our hand. Everyone will use cryptocurrency but what's that exactly? I mean which one will be used? Well, every nation won't dump fiat money. Govt will introduce centralized govt currency which will have no much advantage for people supporting bitcoin. The model will more likely be USDT or other stablecoin peg to fiat money.Fiat will evolve itself. It will definitely take a lesson or two from Bitcoin's success. It might one day become a currency built on blockchain.
I doubt it will ever be based on a blockchain, or if it is, it will be a blockchain which is entirely centralized and entirely under governmental and/or central bank control. There are multiple proposals and plans for central bank digital currencies working their way through various stages of exploration, planning, legislation, etc., around the world, but they all have one thing in common - they are entirely centralized. There is no way the government or the central banks will give up the one thing that keeps them functioning and solidifies their power, which is the ability to print money and control its circulation.Gold could also be manipulated, people can hoard and it could limit the money supply.
Fiat is much more easily manipulated. The difference is that it is the government which can manipulate fiat, which of course the government thinks is absolutely fine. But if you introduce a currency for the people that the government can't manipulate, such as bitcoin, well then the government starts to take issue with it. Fiat money has had value so far because all other better means of exchange that were always available for people have been prohibited or restricted by the governments.
What are these kind of medium that are much better and always available to people than fiat? How come these are prohibited?
However, precious metals, while being good instruments for exchanging value because of their properties and limited supply, can hardly serve as money today because you can't send them electronically, they are heavy, poorly transportable entities. Moreover, being of physical nature, they seem easy to steal or confiscate, which is what happened when governments decided they want the gold standard no longer.
It is because the government sees so many disadvantages using gold as a standard monetary system that is why it failed. One is what you have mentioned above, it is cumbersome to carry gold to pay for certain transactions. Gold could also be manipulated, people can hoard and it could limit the money supply.
Now we have bitcoin that possesses useful monetary properties of precious metals while being a digital currency that is out of control of governments. Bitcoin doesn't need to be coercively imposed on people nor does it need to be protected by dubious legal tender laws. People should naturally come to the conclusion that bitcoin is the best form of money we have ever had or could imagine.
But bitcoin is not widely accepted yet, some countries are already closing thier doors to this cryptos. How can ordinary people use it if the that country's government declare it is illegal? Yes I agree. While bitcoin has been embraced and recognized as valuable as an investment and income generating currency but it still required more support from government to be declared as legal tender and will replace the fiat money. Fiat money has value because the government has issued it and declared as legal tender, it still can't be dump yet.
Fiat money has had value so far because all other better means of exchange that were always available for people have been prohibited or restricted by the governments. However, precious metals, while being good instruments for exchanging value because of their properties and limited supply, can hardly serve as money today because you can't send them electronically, they are heavy, poorly transportable entities. Moreover, being of physical nature, they seem easy to steal or confiscate, which is what happened when governments decided they want the gold standard no longer. Now we have bitcoin that possesses useful monetary properties of precious metals while being a digital currency that is out of control of governments. Bitcoin doesn't need to be coercively imposed on people nor does it need to be protected by dubious legal tender laws. People should naturally come to the conclusion that bitcoin is the best form of money we have ever had or could imagine.What will life after the dump of fiat looks like?
What is your prospect about Bitcoin in the next century?
Yeah. We all can see how Bitcoin is becoming purpular rapidly everyday , everyone talks about Bitcoin and everyone who knows what Bitcoin is all wants to roll with it because they see the future in Bitcoin and they understand where Bitcoin is going. Even on how Btc is elevating it cant dump fiat because fiat is the property of the government.
Yes I agree. While bitcoin has been embraced and recognized as valuable as an investment and income generating currency but it still required more support from government to be declared as legal tender and will replace the fiat money. Fiat money has value because the government has issued it and declared as legal tender, it still can't be dump yet.
I just know everyday Bitcoin is getting more popularity I believe the volatility nature will still be constant in the up coming year. One thing is that no one can predict about Bitcoin. But whatever I'm still waiting to see how Bitcoin will roll in years to come.
The volatility will be part of the bitcoin price but that will not stop the price from reaching higher in the future so we should use the volatility to our benefit. The existence of bitcoin in real life can change people's lives, especially if they can use bitcoin for their investment and only sell their bitcoin at a higher price.
If they can do that, their life will change for the better and of course, they will have more opportunities to survive.
I am not sure if Bitcoin will indeed rule the world in the future. It will become more utilized, of course, with the help of off-chain systems. It will also become more acknowledged as a digital gold and therefore an asset worth keeping. But I don't think it will reach a point in which it will totally replace fiat.
Fiat will evolve itself. It will definitely take a lesson or two from Bitcoin's success. It might one day become a currency built on blockchain. But I'm afraid it will not be completely wiped out, much less due to Bitcoin.
Fiat will evolve itself. It will definitely take a lesson or two from Bitcoin's success. It might one day become a currency built on blockchain. But I'm afraid it will not be completely wiped out, much less due to Bitcoin.
I just know everyday Bitcoin is getting more popularity I believe the volatility nature will still be constant in the up coming year. One thing is that no one can predict about Bitcoin. But whatever I'm still waiting to see how Bitcoin will roll in years to come.
It would be the same as what it is in the past but the only difference is the price value of it.And I don't think every country would abandoned the use of fiat in the future since not everyone will most likely to accept or learn how Bitcoin works. I would rather believe that Bitcoin and fiat will be working together than abandoning the other one. The government will do something if this is their worst case scenario then expect a better regulations soon.
Actually many people have had this perception that cryptocurrency especially bitcoin will rule the world, the problem is that bitcoin is not meant to take over a fiat currency or any other currency, and also bitcoin is not a ruling counsel that handle power, many people contradictory bitcoin, i can only said that bitcoin have it function, really is a currency that has influence within short time frame of it's existence, so that doesn't grant bitcoin to dominate fiat currency in name of of ruling the world, i will say it's a misconception of idealogy, because fiat is a currency which every country has it own and that doesn't mean that fiat is ruling the world.
It is difficult to predict the future of Bitcoins. Currently, it’s hot, and we should make the most out of it.
I am new to the Bitcoin but I am having a conviction that Bitcoin is going to rule the world very soon seeing the may people are approaching Bitcoin every single day to invest in it. I may not be correct now but I know some day every nations of the world will dump the paper money and go for something better like the Blockchain world in running business and everything.
Bitcoin and the Blockchain interface is changing the world entirely into a better cycle that will reduce stress we do undergo in bank when we need our money. The library, market, store, Fast food, transactions are now turning into digital which will help the Blockchain and the Bitcoin market to spike more than what we are seeing now.
What will life after the dump of fiat looks like?
What is your prospect about Bitcoin in the next century?
There is no doubt that bitcoin will rule the entire word, it's just a matter of time. Bitcoin has a great capability and popularity to rule the entire world as fiat will find its way out because it will have less value. Take for instance this year 2021, if bitcoin is not strong enough to withstand all market situations it will have been completely down by now, but even as countries like China and Co are given more restrictions to their citizens, Bitcoin is still rising and will keep growing because it will rule the world. Bitcoin and the Blockchain interface is changing the world entirely into a better cycle that will reduce stress we do undergo in bank when we need our money. The library, market, store, Fast food, transactions are now turning into digital which will help the Blockchain and the Bitcoin market to spike more than what we are seeing now.
What will life after the dump of fiat looks like?
What is your prospect about Bitcoin in the next century?
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