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My future view on crypto currencies

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Posted · Original PosterOP

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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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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Posted · Original PosterOP

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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I think people are forgetting ASICs for Scrypt.


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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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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.)


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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. 

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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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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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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.


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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.

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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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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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I would agree - LiteCoins are really a bright future, BitCoin in my opinion is a balloon. Again - ASICs? seriously? When ASIC cards come out with 600GH/s this year, then the price and difficulty of BitCoins will rise as high as the sky! LTC will get it's difficulty rise by generations of GPUs. Really, I would say - if you are investing in bitcoin, you are about to make a huge loss in near future. Invest in LiteCoin!


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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.

You do know cryptocurrencies value comes from its user base right? Cryptocurrencies are already technically "international" since its not regulated on where it can and can't be traded(user to user basis). 

Bitcoins will have to get more stable before major corporations even consider using them as a form of payment because of the volatility. Business are wary of the risks that come with cryptocurrencies and would most likely take the route of more secured profit. It'd make more sense if it was major financial institutions that are dabbling with cryptocurrencies and even then I'm sure they'd be hella cautious.  


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Also interesting to note... is that one of the strengths of crypto-currency is also one of its biggest weaknesses, no control or oversight.

Correct that's one of things that breathed life into it. 


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Not to get too political, but I know for America, the founding fathers knew we needed a government (after we overthrew Britain) because a majority of the people at the time had little to zip education. They had to create regulations and laws because the uneducated needed some guidance. That's not really the case anymore here in the developed world... the majority knows how to read and write and do basic math, and overall society has become smarter, reducing the need for such strict regulation of everything. This is why Bitcoin should go unregulated I believe, as we shouldn't have to rely on a system made for the uneducated, ruled by the "educated" politicians. Maybe that's a bit too political, but tell me what you think of it.


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