Quote:
Originally Posted by PiuYi
To me, the concept of virtual currency itself is a natural evolution of the world economy, it's the next step. BTC is an extremely secure economy that had one tiny vulnerability and was exposed. The next currency (whether it be LTC, karmacoin, quarks, etc.) will be safer, and it will only get safer with each succession. I think virtual currency to the world economy can be compared to what the internet was for computers, a utopia that's still in development
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I don't think BTC is the natural evolution... it's barely a wannabe that tries.
Currency as we know it is coming to an end. I predict that in 20yrs from now, *cash* will become something very rare that only a bank would take. All transactions will be digitalized and all government would push toward that direction as it is in their best interest (minimizing costs, while maximizing the security/accountability)
Just think of how credit card changed our way of spending/carrying money. Mobile internet will be the next step.
But this doesn't mean BTC or other crypto-currencies will simply take over. For any currency, fiat (cash) or real (gold) alike, they to have a perceivable value. Real materials with value such as gold generate that from their potential usage. Fiat monies do that with the perceived stability and value of the issuing place/entity.
Unless any government or giant corporation would want to back certain currency, I don't see crypto-currencies become mainstream. However, one possibility is that giant corporations with HUGE market cap such as Apple, Google, Exxonmobil... etc would launch their own currency that serves for their good/service. And as the company itself become the backing entity, it is possible for them to make their own currency work. Just think these companies as a small nation issuing its own currency.