Future Currency

Hello Friends,

Will Bitcoin be the currency of the future, or will it crash? I believe Bitcoin will be the main currency in near future. Why? Okay, let's see:

  • Highly secured  transaction.
  • Bitcoin will be the shield against economic problems
  • Only works as Universal World Currency
  • People may invest for long-term returns
  • As no third party is involved in the transaction so it is difficult to hack for the criminals
  • No paperwork for a transaction as well as quick and cheap transactions
  • Accessible to anyone, anywhere just using a small smart device

What do you think Brothers? Let me know your ideas.

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@krafa consider using * item to make a list

Bitcoin price has been very volatile starting in 2013 when its price was at about $10 and $15 and then it skyrocketed to a high $1163 in the same exact year. Although in the next 13-14 months it dropped all way down to $200, it grew back again. In 2016 it reached the news again when there was a buying spree led by China because people were trying to avoid the Yuan devaluation. Of course, it has hit an all-time high reaching $1140 in 2017 and at that time the Chinese central bank made an announcement, saying that they want to investigate Bitcoin transactions on the market. The constant rise in the price of Bitcoin seems to be pretty unsustainable in environmental and economic terms. One thing is for sure, Bitcoin is deflationary and a little inflation doesn’t mean it’s a bad thing. One problem that is shadowing over Bitcoin’s future, is probably the huge waste made in terms of energy use. Bitcoin has many advantages and because of this reason will most definitely remain one of the most relevant currencies. One thing is for sure, the price will remain volatile in the future.

@krafa , nice points you have mentioned............I also guess Bitcoin will dominate in future.

@mirpur isn't it already dominating the world?

@krafa It’s really hard to predict.
If you ask me the technology of the future, it's certainly Blockchain which is the same technology underlying Bitcoins.

@krafa I can't see bitcoin actually staying and becoming the new currency, overriding paper and coin. I may be wrong, but if anything like this were to take place, the US is too stubborn and set in its ways to make any changes for many years. Maybe 100 years out it might be a possibility. Right now, though, it's far too unstable regardless of it being secure or not. We don't even have a grip on other security measures yet. Until we can find a way to ensure and enforce security using any payment methods, this won't work.

@turkey 100 years!!! I don't agree with you

I do not think so simply because bitcoin is a property of anonymity - no other person can tell what amount of bitcoin you hold and this can lead to widespread misuse say in terrorism, money laundering and this would make it extremely hard to convince governments to accept it as a currency even in future.

@jedida But, the influence of Bitcoin is undeniable. While it may not replace physical currency entirely, it could easily lead the way for an interesting hybrid arrangement where printed currency coexists peacefully with physical currency. Only time will tell.

@shanzida your point in terms of influence is so valid especially bearing in mind that bitcoin had little value in 2008 and today it is worth billions of dollars. As for peaceful coexistence, that will largely depend on how technological advancements will be adopted in the future. But don't you think that most people will feel short-changed bearing in mind the fact that early adopters of bitcoins hold the largest chunks of these coins and it's very likely that they can certainly swing the market in their favor within a moments notice?

@shanzida said in Future Currency:

But, the influence of Bitcoin is undeniable.

That is the point

Bitcoin is a bubble if you ask an economist! But I am a techie, I believe Blockchain on which bitcoin is based, is a great technology! We will definitely see various Blockchain based projects in the near future. But bitcoin is still far from being perfect!

For Bitcoin to become a currency, it needs to crash. If Bitcoin doesn’t crash, it will never be a currency!!

@nicolaortiz said in Future Currency:

Bitcoin is a bubble

I would argue structurally it differs in key areas from true bubbles in a number of regards. With the continuing price swings reflecting a combination of low availability and lack of liquidity.

Most current holders of Bitcoin. Don’t want to sell their Bitcoin’s.

Well Tim Draper, the famous venture capitalist certainly believes Bitcoin is the future. He is the same guy who said that Bitcoin might cross the $10,000 mark in three years in 2014. He recently said that the prices will hit $250,000 by 2022.

  1. Bitcoin will be the shield against economic problems: Yes it will.

Unless Bitcoin is no more a decentralized currency, then I can say that the 2008 American Economic problem can affect it.

You see,
Cryptocurrencies can be used at the international level without facing any problem because it is not restricted by the exchange rates, interest rates, transaction charges or any kind of other charges of any country. So anybody from anyway can make use of it.

In Kenya’s M-PESA system for instant, a mobile phone based money transfer and microfinancing service recently announced a bitcoin device, with approximately one in three Kenyans now owning a bitcoin wallet.

Now, consider it, if I and you and everyone on this forum could transact business, and rapid growth using the blockchain technology, tell me, what would the economic situation of the world concern us, no way, right?

A clearer example, on my Top 5 Cryptocurrencies to buy in MAY, 2018 blog post, I considered the nature of Ripple. I mean the purpose of what it was meant to be.

Ripple is one coin that its mission in terms of economic value is for the whole cryptocurrency community.
So, if a coin like Ripple is there and another like coin like Ontology whose mission is out of this world, I think, the certainly, Bitcoin and other altcoins will be the shield against economic problems.

  1. Highly secured transaction: Confidential
    In cryptocurrency, the privacy options of user are well protected unless you want to go the way of a credit card.
    As the signs or codes are used in the transactions associated with cryptocurrencies, there is no any possibility of leakage of personal information.

Just imagine sending money through a technology known as the blockchain. A protocol whereby everyone sees that payment is going on but, the security syntax makes the transaction super secure.
As a matter of fact, there is no how such a blockchain can be hacked, even though with legions of hacker.

  1. Only works as Universal World Currency

Yes, bitcoin can work as a universal currency. I mean, take a look at the numerous ICOs launched, every single one of them paired their purchases with bitcoin.
That alone is one traction that has made bitcoin a universal world currency.
Now, take for instance, if I can stay in Nigeria and ship an Iphone X from Bitcoin shops, is that alone not a traction that this revolution currency a big deal? Of course it.

Recently, although I had a list of over 800 places accepting bitcoin (now that is worldwide, right, no currency restrictions), I recently was amazed to see up to 3 million places you can spend bitcoin. That was amazing

Although I will publish that soon, the one fact is that Bitcoin is still growing, (over 40 million users), and will break new grounds. Just forget about what the government of some countries are doing, they know that their investment might be in stocks, and so, there should be o competitor.

Their Fears?
They don’t want Bitcoin to do to local currencies office what email did to post office.
So, the question of universality is sure. If I can stay in Ireland and order a product in bitcoin, as far as it delivers, that currency is SURE A UNIVERSAL CURRENCY.

  1. People may invest for long-term returns

As far as Bitcoin and cryptos is concern, buying bitcoin for HODL is a long time investment. I remember buying bitcoin last year mid-June, in December I exchanged it and I made mum happy about it.

Now, about the question of being long term investment, the answer is, it sure is.
Although I revitalized my site again on April 25th , trying to reposts all my old posts, , in one of my CRYPTOLIFE posts, I showed my readers how to buy ripple from beginning till the end.

Now, if I showed them how to buy, it also means I bought mine for a long term.
The truth is that Bitcoin and other cryptos are a long term investment. Although now, I target altcoins since they can reproduce result more having bought some bitcoin.

  1. As no third party is involved in the transaction so it is difficult to hack for the criminals

Yes, bitcoin is difficult to hack. However, you need to be careful though not to trust an exchange fully with your bitcoin.
But by & bye, it is not easy to hack bitcoin.

Think about decentralized exchanges. No hacker can go there. That is why they use some low security conscious centralized exchange(s) to Play FIFA 2018- Coincheck Exchange Hack.

  1. No paperwork for a transaction as well as quick and cheap transactions
    Yes, absolutely, we won’t be seeing anything like paperwork, unless, there will be a technology to print Space Paperwork, lol.
    Hitherto, bitcoin and cryptos transactions are quick. Truth be told, although, it can cost a little to deal with Bitcoin delivery, but with other altcoins like Ripple and Litecoin, it flies like Jet.

  2. Accessible to anyone, anywhere just using a small smart device

Yes, it sure accessible to everyone. Just think about the Ledger Nano wallet stuff. Things can get pretty sweet. As matter of fact, I love that wallet.

So, my krafa , I believe, I have been able to exert some points that BITCOIN’S RELEVANCE is just starting out?

Please, guys, let me know what you think, Upvote if worthy.

  1. Finally: Are we allowed to include some helpful Blog post links? Please let me know. Thanks

Yeah no doubt bitcoin will be the currency or the future.. it will not crash rather it will grow in future..

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