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My future view on crypto currencies


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#1 Dominik13

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Posted 26 February 2014 - 06:57 AM

Here are my views for the future of crpto-currencies

 

-Bitcoin: Will be used as an international currency. Each country will hold their current currency (USD, Euro, Etc.) But bit coin will be used instead of having to exchange every time you travel, which will be ideal for travelers. Also bit coin is a great choice for companies which work in multiple countries since it will be easier to control.

 

Dogecoin- I see dogecoin as the currency for donations, The Sochi olympics received the most donations from dogecoin than any other currency. They also constantly donated to the jamaican bobsled team. Also it was used to help people in need get service doge's (pun intended). 

 

Litecoin- I don't see a future use of this other than just profiting from mining.

 

 

 

What are you guys thoughts on these currencies? Share your ideas on this thread.


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#2 scaryjam823

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Posted 26 February 2014 - 07:00 AM

In my opinion litecoin has just as bright future as bitcoin. It is cheaper so there is an easier way to invest and feel like you're getting something, easier to mine right now. I don't see litecoin going anywhere but up just like bitcoin. All the other alt coins will fade out because of the somewhat small user base. I just woke up so I can't express in greater detail why at the moment like I normally could.


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#3 Jogostar

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Posted 26 February 2014 - 07:01 AM

you're talking like distant future.

like 30-50 years?


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#4 Paralectic

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Posted 26 February 2014 - 07:02 AM

I feel like there will be a kazillion coin types and only a few of them will be worth anything at all ever.


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#5 Dominik13

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Posted 26 February 2014 - 07:02 AM

you're talking like distant future.

like 30-50 years?

Yes probably, bit coin will probably be adopted in smaller countries first, then come up to the big boys like US, Germany, UK, ETC.


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#6 Goldilock

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Posted 26 February 2014 - 07:05 AM

For what In see Crypto Currency will hardly worth anything. Think about it, it's hardly a real money since nothing back it like gold or silver even current government still use debt to back it's currency. 



#7 Karumu

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Posted 26 February 2014 - 07:06 AM

i think bitcoing will die and litecoin will take over, as in the beginning, too many people had bitcoins and loads of people just forgot about them, not that big into mining / crypto currencies, but i may hop on the train slightly when i get my xfire 290's


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#8 TheMissxu

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Posted 26 February 2014 - 07:06 AM

I think people are forgetting ASICs for Scrypt.


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#9 acidydragon

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Posted 26 February 2014 - 07:06 AM

I see bit coin disappearing.

However, I think it's the start of the future.

Cryptocurrencies are something that isn't going away, but I think the currency type will change a few times before settling.


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#10 Lays

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Posted 26 February 2014 - 07:19 AM

I truly doubt bitcoin will go anywhere anytime soon. Just because one hiccup from Mt. Gox doesn't mean it's going to disappear overnight. 

 

People are forgetting, like 80% of currencies mined most likely get converted into bitcoins then sold, simply because it's easier to sell BTC than other currencies. 

 

 

Once asics are released for scrypt, I think BTC will go up in price, because other coins will become more difficult to mine. 

 

 

 

I also truly doubt until our next generation is here & we're the ones running the country / in businesses that we'll actually see Bitcoin being used such as the USD is used. 

 

There's still to many people that think it's a ponze scheme & don't know anything about it for it to really take off.  (We're not just talking about "Bitcoin ATM's" here, we're talking about full-spread-adoption of it.)



#11 Mac

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Posted 26 February 2014 - 07:44 AM

I think people are forgetting ASICs for Scrypt.

It's still be a few years before the powerful ones come along for a decent price.

 

The current ones only really have one thing extra over a GPU, the power consumption. 



#12 Ertman

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Posted 26 February 2014 - 07:50 AM

For what In see Crypto Currency will hardly worth anything. Think about it, it's hardly a real money since nothing back it like gold or silver even current government still use debt to back it's currency.


Currencies have no intrinsic value anymore. The value is assigned by users of the currencies.
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#13 Ertman

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Posted 26 February 2014 - 08:08 AM

I wonder when we will see individual countries create their own official crypto currencies?


...
 
-Bitcoin: Will be used as an international currency. Each country will hold their current currency (USD, Euro, Etc.) But bit coin will be used instead of having to exchange every time you travel, which will be ideal for travelers. Also bit coin is a great choice for companies which work in multiple countries since it will be easier to control.
 ...
Litecoin- I don't see a future use of this other than just profiting from mining.
 ...


You offer no real use for bitcoin. You are just adding a step to currency conversion (Local - BTC - Foreign vs Local - Foreign). Basically exchange local currency to BTC, then use BTC for goods and services, then exchange BTC for foreign currency. IF it is accepted and used in the long term, it is more likely to see bitcoin used as a stable global currency that all other currencies can be measured against as there is only going to be a fixed amount created. In this scenario, the local currencies will eventually be eliminated.

For litecoin, if it will have no use in the long term, it will have no value in the long term.
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#14 Paralectic

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Posted 27 February 2014 - 12:26 AM

Currencies have no intrinsic value anymore. The value is assigned by users of the currencies.

Same for the dollar, euro and pound.



#15 Ertman

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Posted 27 February 2014 - 02:53 AM

Same for the dollar, euro and pound.

Yes. This is what I meant by currencies.



#16 Nallown

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Posted 27 February 2014 - 03:06 AM

Highly doubt that dogecoin will become official simply because of it's name, I mean just look at it. DogeCoin.



#17 Lays

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Posted 27 February 2014 - 04:04 AM

Highly doubt that dogecoin will become official simply because of it's name, I mean just look at it. DogeCoin.

 

 

If it wasn't going to go anywhere, it wouldn't of made it this far.   It's success is because it's so ridiculous, I think that benefits it quite a bit.



#18 Nallown

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Posted 27 February 2014 - 04:13 AM

If it wasn't going to go anywhere, it wouldn't of made it this far.   It's success is because it's so ridiculous, I think that benefits it quite a bit.

When I say official I mean it being used as a currency in some sort of way by everyone, I don't mean it being a failure and keep in mind that most people using dogecoin are techie people (techie as in experienced PC users who would understand the basics plus a bit more). If I'd say to my mother "I'm going to buy a physical product with 'dogecoin' to my mother" then more then likely she'd be like "dafuck" and if I'd say 'bitcoin' instead then simply because of it's name she would believe it more.



#19 Osmium

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Posted 27 February 2014 - 04:18 AM

You are looking at things as if the future pans out exactly as it has now. Things change very rapidly. Personally I think this generation of currency could very well dissapear altogether and something else could replace cryptocurrencies as we know them. There is too much negativity around bitcoin in the media for it to be accepted by all I think, Litecoin is too tied to bitcoin to ever surpass it, dogecoin is based off of a meme and I have no faith it will succeed, and there are too many currencies being made for any of the "nobody" currencies to catch on. I think something else will come along that does not have the negative press of bitcoin and it will essentially just get the right amount of press to drive up the value over time instead of all at once.


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#20 FizzyFantom

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Posted 27 February 2014 - 04:30 AM

Currencies have no intrinsic value anymore. The value is assigned by users of the currencies.

I wish I could like this more than once...

 

On the topic of Bitcoin as a currency in the future, I'm not sure that it is as practical as alternatives like Litecon or Feathercoin, as we have already seen the confimation times slow down massively on small transactions. With multiple times the transactions that are going on currently, buying a beer with Bitcoin in the future may be impractical , it may simply take too long.


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