The Economist 1988 - “Get Ready For A World Currency by 2018″

[Strawberry]

Rather interesting read.

https://socioecohistory.wordpress.co...mist-magazine/

Meanwhile Bitcoin breaks $5000 and hits all time high at $5350 or so (now about $5250). This is the world currency everyone's been waiting for.
And not only that, it's being followed by a horde of altcoins designed for many different purposes, from online tipping to clean energy.
Those who hoarded altcoins in late 2016 for next to nothing are multimilionaires/bilionaires right now.

Edit:
17-11-28:
Bitcoin now $10.000.
17-11-29:
Bitcoin now $11.100.
17-12-07:
Bitcoin now $15.050.

[Mittens]

The Euro is barely scraping by......

[Taso]

Well I don’t dismisses economists you can’t put a prediction to actual reality. Sure he predicted in 1988 that their maybe a world currency but the reality is everyone has their own value system. Secondly a lot of the worlds currency is pretty much backed by the u.s dollar so in essence we have a world currency all ready.
Crypto currency itself is designed not to be under government control hence its decentralized also it acts much like metal. Their is a fix quantity of crypto currency you can have. For instance if bitcoin has a limit of 5trillion coins that’s it once it reaches 5trillion their is no more. Then you have to rely on trading and buying to exchange the currency.
Compare it to fiat money it could be printed as much as needed in order to keep things going or it could be curbed depending on the economic situations. Crypto currency can’t do that.

[Saucerian]

Digital currency's all good but honestly **** bitcoin and others like it that allow "mining" that causes abnormal demand and prices for computer hardware. And a lot of wasted electricity.

I'd like it if governments came down on it like they did corn-fueled cars when people started being unable to afford food, but IT is further from a basic need.

Maybe if/when enough of the oligarchy start feeling IT costs, or environmentalists present how much carbon it emits.

[Deleted]

-Get ready for a world that's turned to complete shit and fun is outlawed in fear of offending someone by 2030-

There we go; stated a likely thing to happen and plucked a year out of the air.

[A dot Ham]

Rather interesting read.

https://socioecohistory.wordpress.co...mist-magazine/

Meanwhile Bitcoin breaks $5000 and hits all time high at $5350 or so (now about $5250). This is the world currency everyone's been waiting for.
And not only that, it's being followed by a horde of altcoins designed for many different purposes, from online tipping to clean energy.
Those who hoarded altcoins in late 2016 for next to nothing are multimilionaires/bilionaires right now.

Except nobody that matters takes it seriously. Major governments don't recognize it. Banks and investors don't touch it.

What good is it?

Its only purpose is for the deep web and nefarious acts. $5000 = 1 bitcoin = 1 child raped for your viewing pleasure from a 3rd world country.

[Cæli]

Except nobody that matters takes it seriously. Major governments don't recognize it. Banks and investors don't touch it.

What good is it?

Its only purpose is for the deep web and nefarious acts. $5000 = 1 bitcoin = 1 child raped for your viewing pleasure from a 3rd world country.

so bitcoin is worse than cash, you think ? you can't track cash at all as far as I know.

also you really seem to trust banks and governments. do you think you should ? is our world a good world to live in currently ?

[cubby]

Rather interesting read.

https://socioecohistory.wordpress.co...mist-magazine/

Meanwhile Bitcoin breaks $5000 and hits all time high at $5350 or so (now about $5250). This is the world currency everyone's been waiting for.
And not only that, it's being followed by a horde of altcoins designed for many different purposes, from online tipping to clean energy.
Those who hoarded altcoins in late 2016 for next to nothing are multimilionaires/bilionaires right now.

Is cashing out of altcoins feasible right now? What I mean is, are people who did hoard actually millionaires or just paper millionaires?

[Doctor Amadeus]

Yeah, I am as globalist as the next guy, but yeah fuck bitcoin, I am all for raiding them and all these other bullshit schemes like Oprah and taking all that shit off the market.

[Deleted]

But what good is Bitcoin really?

I can't buy food or anything with it, which is the point of currency.

[Dug]

Just wait until my dogecoins pay off

[melodramocracy]

Rehash the same article, add another 10-20 years to the prediction, publish, wait, repeat. You can do this with predicting the death of gas power, cars you can drive yourself, etc etc.

[Aeluron Lightsong]

so bitcoin is worse than cash, you think ? you can't track cash at all as far as I know.

also you really seem to trust banks and governments. do you think you should ? is our world a good world to live in currently ?

Better then this Bitcoin nonsense.

[Cæli]

Better then this Bitcoin nonsense.

I like to know where my money goes when I pay, including if I pay taxes.
I also trust a mathematical algorithm to handle money, more than corrupted persons.
the point is not bitcoin, it's having more efficient ways of paying and having fair situations.

but everyone doesn't seem to think so it seems, currently

[Aeluron Lightsong]

I like to know where my money goes when I pay, including if I pay taxes.
I also trust a mathematical algorithm to handle money, more than corrupted persons.
the point is not bitcoin, it's having more efficient ways of paying and having fair situations.

but everyone doesn't seem to think so it seems, currently

Even computers and technology can be flawed as much as humans.

[Cæli]

Even computers and technology can be flawed as much as humans.

technology evolves way faster than humans, the only limit with computers is our current understanding of the laws of nature. and again an algorithm is more trustworthy than a person, for obvious reasons. if you trust most people you're asking for troubles.

[Sunseeker]

A currency worth $5k per unit is not a currency. It's a collectible. You're better off trading baseball cards.

[Masark]

A currency worth $5k per unit is not a currency.

The unit is not undivisible. At the technical level, bitcoin functions in units of one-hundred-millionths of a bitcoin (called a "satoshi"), which at current price is about 5 thousandths of a cent.

[Grapemask]

Those who hoarded altcoins in late 2016 for next to nothing are multimilionaires/bilionaires right now.

This is pretty much exactly why Bitcoin and other cryptos will never be real currency. They're just volatile get-rich-quick schemes that die off right after they explode. Bitcoin survives simply because it was the first and has tons of support, but even it still has so much volatility that no one would want to use it as a real currency.

[Strawberry]

Except nobody that matters takes it seriously. Major governments don't recognize it. Banks and investors don't touch it.

What good is it?

Its only purpose is for the deep web and nefarious acts. $5000 = 1 bitcoin = 1 child raped for your viewing pleasure from a 3rd world country.

https://en.wikipedia.org/wiki/Legali...y_or_territory

There are quite a few countries accepting Bitcoin, Japan most likely being the most imporant on this list. Bitcoin is a legal form of payment in many countries, and more to come.

Is cashing out of altcoins feasible right now? What I mean is, are people who did hoard actually millionaires or just paper millionaires?

Yeah, it's possible to cash it in. However you have to pay taxes just like normal, depending on the country.

But what good is Bitcoin really?

I can't buy food or anything with it, which is the point of currency.

You can buy cash with it and then you can buy food
But really, currency doesn't just happen overnight. Give it time, it won't take long before it completely takes off in Japan and then it's just going to explode.

This is pretty much exactly why Bitcoin and other cryptos will never be real currency. They're just volatile get-rich-quick schemes that die off right after they explode. Bitcoin survives simply because it was the first and has tons of support, but even it still has so much volatility that no one would want to use it as a real currency.

If I had a dollar for every time someone said that Bitcoin is going to die, I would have been a millionaire now
I actually have 0 Bitcoins, however I have invested in altcoins. They are risky but on the countruary to Bitcoins which is a rather stable currency, altcoins can give back x10, x100, or even x1000 the return. That is actually quite realistic for those who invested in for example NEO. Back in February it was worth $0.1. Now it's $28 and all time high $50. That's a lot of return for those who were lucky to invest in the right coin.