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Title: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: jehst on April 26, 2015, 05:32:45 AM Or are you waiting for bitcoin to gradually become popular alongside fiat?
What are you waiting for? Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: Enjorlas on April 26, 2015, 05:43:36 AM No. I am waiting for Bitcoin to replace debit cards and paypal as the dominant form of payment across the internet. After that, I will wait for bitcoin payment services to be offered in physical stores. Starbucks first, then Mccdonalds and Walmart.
Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: shulio on April 26, 2015, 05:55:56 AM Or are you waiting for bitcoin to gradually become popular alongside fiat? What are you waiting for? Bitcoin to be on the same boat as fiat because the fiat system is collapse, than what would be the rate of bitcoin since bitcoin is always tagged on the value based on fiat. What I do want is bitcoin to take over online payment system which we still use fiat currency this day, and also to replace paypal since they can be easily reversible Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: Vod on April 26, 2015, 06:07:29 AM Or are you waiting for bitcoin to gradually become popular alongside fiat? What are you waiting for? If the fiat system collapses, so will all our utilities. Bitcoin is useless with electricity and the internet. :-\ Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: jehst on April 26, 2015, 06:09:56 AM No. I am waiting for Bitcoin to replace debit cards and paypal as the dominant form of payment across the internet. After that, I will wait for bitcoin payment services to be offered in physical stores. Starbucks first, then Mccdonalds and Walmart. Quote Bitcoin to be on the same boat as fiat because the fiat system is collapse, than what would be the rate of bitcoin since bitcoin is always tagged on the value based on fiat. What I do want is bitcoin to take over online payment system which we still use fiat currency this day, and also to replace paypal since they can be easily reversible If Paypal allows for optional irreversible transactions and lowers its fee to a flat 1% fee, they could destroy most of the incentive to switch to bitcoin. Acquiring bitcoin or selling it usually eats 1% and using Paypal would eliminate the volatility. I think Paypal could compete very strongly with bitcoin if they actually felt threatened by it. Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: TippingPoint on April 26, 2015, 06:42:54 AM OpenBazaar might be the next significant boost to Bitcoin adoption. It is not ready yet, but money will flow into the Bitcoin economy and we will all benefit.
OpenBazaar is an open source project to create a decentralized network for peer to peer commerce online—using Bitcoin—that has no fees and cannot be censored. Put simply, it’s the baby of eBay and BitTorrent. Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: fryarminer on April 26, 2015, 06:51:17 AM Who said I am waiting? You know we all talk about and predict that fiat will collapse. It probably never will. I was there the days that you needed wheelbarrows to bring your pesos to buy bread. But they just shaved off the zeros making 1000 pesos 1 peso and equal to a dollar and all was kind of back to normal. Fiat won't collapse, it will always bounce back as long as a government will support it. Whether it crash or not crash, people will come to realize the superiority of Bitcoin. There will be mass adoption based on ease of use. But there's nothing stopping us from using it now. Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: shulio on April 26, 2015, 07:04:47 AM Quote from: shulio Bitcoin to be on the same boat as fiat because the fiat system is collapse, than what would be the rate of bitcoin since bitcoin is always tagged on the value based on fiat. What I do want is bitcoin to take over online payment system which we still use fiat currency this day, and also to replace paypal since they can be easily reversible I think Paypal could compete very strongly with bitcoin if they actually felt threatened by it. Paypal are actually feeling threatened already by bitcoin, you can see that because now of all times they are willing to accept bitcoin soon and this is their way of competing with bitcoin since they cant win . Irreversible transaction is actually a must which is one of the function of bitcoin Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: Amph on April 26, 2015, 07:39:36 AM i'm waiting for bitcoin to reach mainstream status, and don't depend of fiat anymore, also i'm waiting for that manipulation has a lesser impact on the market, right now the market is so small that is heavy manipulated and cause too much volatility
Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: ShetKid on April 26, 2015, 08:15:28 AM i'm waiting for bitcoin to reach mainstream status, and don't depend of fiat anymore, also i'm waiting for that manipulation has a lesser impact on the market, right now the market is so small that is heavy manipulated and cause too much volatility With more than 13 million in circulation, it probably will never reach a state of less manipulation. Even 10-20K Bitcoins right now can crash the price , think what over 200K can do, and we have 13 million in circulation. Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: deluxeCITY on April 26, 2015, 08:16:37 AM Or are you waiting for bitcoin to gradually become popular alongside fiat? What are you waiting for? Yes this is what i hope for that bitcoin will become popular alongside fiat because if fiat collapses the least of our problems will be the price and adoption of bitcoin. Saying that fiat has been said to be collapsing for decades and it hasn't and i don't see it happening any time soon even if half the internet would want you to believe it will. We have to carry on playing their ponzi game or die so we don't have much choice do we. I am waiting to be able to buy everything i need in life with bitcoin and then they will no longer have the control over us so it won't matter about what fiat is doing. Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: bornil267645 on April 26, 2015, 08:29:17 AM I am waiting for the bitcoin establish itself alongside fiat but with it's own recognition. This will certainly have a positive effect on the bitcoin community and it's popularity.
Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: Amph on April 26, 2015, 09:08:40 AM i'm waiting for bitcoin to reach mainstream status, and don't depend of fiat anymore, also i'm waiting for that manipulation has a lesser impact on the market, right now the market is so small that is heavy manipulated and cause too much volatility With more than 13 million in circulation, it probably will never reach a state of less manipulation. Even 10-20K Bitcoins right now can crash the price , think what over 200K can do, and we have 13 million in circulation. the only good thing, is that they can't dump all together those 200k, i mean every whale that hold that amount know that if he dump his coins, another like him will dump also, and he will lose plenty of money doing it Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: LiteCoinGuy on April 26, 2015, 09:34:35 AM well if that happens, we would have much bigger problems. i would not wait for that.
Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: Kprawn on April 26, 2015, 09:34:48 AM The fiat system will not collapse at once.... you will see the smaller fiat currencies going first. {They will either be forced or they will choose the option for it's benefits} The general public can force this or the government would have to change to enable it.
Nobody is waiting for anything... Bitcoin just happens, to spread like a virus... only difference being... Bitcoin has no nasty payload. Give it time, it will happen gradually... ;D Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: The Sceptical Chymist on April 26, 2015, 10:18:59 AM Fiat in which country--are you talking about USD, yen, euro, what? If you're talking about across all countries, that's not going to happen in our lifetimes, probably. It's a black swan event. You probably won't even see the collapse of whatever currency is in use in your particular country in your lifetime. And even if the entire fiat system were to collapse, there's absolutely no guarantee that bitcoin would be the go-to currency. People would probably hoard gold and silver rather than something with no intrinsic worth like bitcoin. As it stands, not many people use it right now other than hipsters and computer geeks.
I think OP reads too much doomsday economic prattling which is so common on the internet now. Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: gentlemand on April 26, 2015, 10:26:42 AM I think we've only just begun to see the creativity unleashed in search of keeping the regular world economy ticking along. Rather a lot of people have a vested interest in keeping it afloat.
Anyone praying for fiat collapse had better be living in a bunker on an island when it happens or they'll be just as wiped out as everyone else. Their masturbatory internet fantasies about becoming a post apocalyptic tycoon would end in around three minutes when your friendly neighbour stoves your skull in to get their hands on a tin of green beans. It has zero need to happen for BTC adoption. All that does need to happen is more people finding a use for it. Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: John Barnes on April 26, 2015, 10:33:37 AM Why should the collapse of fiat trigger btc adoption? We can happen with fiat thriving too.
Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: SpanishSoldier on April 26, 2015, 11:37:00 AM Or are you waiting for bitcoin to gradually become popular alongside fiat? What are you waiting for? I am waiting for the next block halving ;) Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: LiteCoinGuy on April 26, 2015, 11:50:16 AM Or are you waiting for bitcoin to gradually become popular alongside fiat? What are you waiting for? I am waiting for the next block halving ;) and the halving after that :P Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: RussianRaibow on April 26, 2015, 11:58:39 AM Or are you waiting for bitcoin to gradually become popular alongside fiat? What are you waiting for? I am waiting for the next block halving ;) and the halving after that :P Do u mean there will be a price halving after next block reward halving ? :o Last time it doubled... I think Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: LFC_Bitcoin on April 26, 2015, 05:40:55 PM Or are you waiting for bitcoin to gradually become popular alongside fiat? What are you waiting for? The latter. I hope that as time goes on bitcoin will gain mainstream adoption & be used by the masses. We should be able to put Western Union out of business pretty easily maybe PayPal too. Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: MicroGuy on April 26, 2015, 05:54:27 PM Or are you waiting for bitcoin to gradually become popular alongside fiat? What are you waiting for? The fiat system is never going to collapse. It is backed fully by the most power military forces on earth. The printing presses will never run out of ink. Bitcoin will almost surely remain a tiny sliver of the global economy. It has no central power to promote, protect, and advance its cause. I think the more likely scenario is that fiat will take on more of Bitcoin's digital characteristics over time and perhaps also grow in transparency. Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: Snail2 on April 26, 2015, 09:00:58 PM Or are you waiting for bitcoin to gradually become popular alongside fiat? What are you waiting for? I'm definitely not waiting for the collapse of the fiat system. In that case the most popular currencies would be gold, silver, baked beans, bread, corned beef, ammunition, amoxicillin, diesel, petrol, cigarettes, coal, fellatio but surely not bitcoin. "waiting for bitcoin to gradually become popular alongside fiat" sounds better for me. I'm also waiting for the block halving and the second coming of Satoshi :). Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: panck4beer on April 26, 2015, 09:32:59 PM The collapse of the fiat system is not likely to come. Bitcoin will rmain a niche use entity for a long time, until there is some necessity that it fufills.
Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: Beliathon on April 27, 2015, 12:11:44 AM What are you waiting for? I'm not waiting for anything, I'm using bitcoin just as I would use any other useful tool.Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: nextgencoin on April 27, 2015, 04:45:43 AM Or are you waiting for bitcoin to gradually become popular alongside fiat? What are you waiting for? If the fiat system collapses, so will all our utilities. Bitcoin is useless with electricity and the internet. :-\ Someone has been watching too many Mad Max movies. So when the Argentinian currency for example collapsed did the whole world lose electricity? Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: fryarminer on April 27, 2015, 06:49:29 AM Too many Armageddon believers. Fiat won't collapse. Worst case scenario it will simply become obsolete and used only to pay taxes and speeding tickets. Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: btcxyzzz on April 27, 2015, 06:57:48 AM At this price, nothing will help Bitcoin but the collapse of fiat... Which will happen in one point of time. Sooner or later.
Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: Elwar on April 27, 2015, 06:59:22 AM I'm not waiting for anything. I'm converting and spending. The dollar is in the past.
Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: muhrohmat on April 27, 2015, 09:05:57 AM in my case no i only use 10% of wages into bitcoin the rest as im in europe its euros i dont think to use a bitcoin in 100% budget its sae its very voltable the price and the bank gives a difrent securety and nsurances to the fiat too.
Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: nextgencoin on April 27, 2015, 10:15:19 AM Or are you waiting for bitcoin to gradually become popular alongside fiat? What are you waiting for? If the fiat system collapses, so will all our utilities. Bitcoin is useless with electricity and the internet. :-\ Someone has been watching too many Mad Max movies. So when the Argentinian currency for example collapsed did the whole world lose electricity? Yep, if you think about it this is a non-issue. As soon as fiat collapses all the private security contractors will begin accepting bitcoin as payment. They fight for nothing but money so what else will they do when everybody starts shoveling their fiat into the fireplace to warm their houses? Once the mercenaries realize bitcoin is the only dependable currency the first thing they will do is take over the electricity and communications infrastructures to secure their source of income which will immediately become bitcoin. At that point those who were sensible enough to set aside at least a little bitcoin just in case this scenario unfolds will be the only ones able to guarantee their security when pandemonium breaks out. Everyone else will be at the mercy of the bitcoin holders. This is why it's important that the bitcoin community works diligently to expand the bitcoin community to include as many people as possible, before all this blows up. That is, of course, IF it all blows up. For all I know the fiat system will find a way to perpetuate itself for further centuries. But I'm holding on to at least a little crypto just in case. Even if Bitcoin isn't massively used during a fiat collapse then it still will serve the same purpose Gold has. ie preservation of wealth.....and likely increase it a lot. The truth is gold and Bitcoin doesn't always have that much use during a collapse, people just want food etc. it what it does is when assets have crashed to the floor you can come in and buy them for peanuts. This is the whole purpose of owning Gold etc, to get to the other side of the disaster intact. if I was American I would want in order. 1. Log cabin, stocked with canned food. 2. Reliable water source. 3. Electrical generator/solar. 4. Gold/Bitcoin. Where you put a gun into that order is up to personal choice. Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: Snail2 on April 27, 2015, 10:34:17 AM Yep, if you think about it this is a non-issue. As soon as fiat collapses all the private security contractors will begin accepting bitcoin as payment. They fight for nothing but money so what else will they do when everybody starts shoveling their fiat into the fireplace to warm their houses? Once the mercenaries realize bitcoin is the only dependable currency the first thing they will do is take over the electricity and communications infrastructures to secure their source of income which will immediately become bitcoin. At that point those who were sensible enough to set aside at least a little bitcoin just in case this scenario unfolds will be the only ones able to guarantee their security when pandemonium breaks out. Everyone else will be at the mercy of the bitcoin holders. This is why it's important that the bitcoin community works diligently to expand the bitcoin community to include as many people as possible, before all this blows up. That is, of course, IF it all blows up. For all I know the fiat system will find a way to perpetuate itself for further centuries. But I'm holding on to at least a little crypto just in case. Probably traditional stuff like gold, silver, gems would be more popular between those mercs. BTW the fiat system not going to blow up very soon. A gradual degradation is a much more likely scenario. Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: countryfree on April 27, 2015, 10:56:40 AM Or are you waiting for bitcoin to gradually become popular alongside fiat? What are you waiting for? I'm not waiting for anything. I'll just use BTC more and more when more places will accept it. It will be gradual. Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: amiryaqot on April 27, 2015, 11:13:16 AM Bitcoin is better than ordinary fiat system it's more secure and fast than others 90's transactions method, i am not waiting for the collapse of that oldies fiat system, as Bitcoin getting more big merchant and adoption around the world so i am happy with that and getting more Bitcoin and happily using at many places for online shopping.
Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: jaberwock on April 27, 2015, 06:36:50 PM collapse of fiat system would hurt BTC too.
You know, people will get scared to invest in risk things and won't spend on superfluous like Cell Phones or High Speed internet Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: jubalix on April 28, 2015, 11:48:47 AM Bitcoin adoption I feel will have a few different drivers, and it will come I feel much like computers then smart phones, and the net itself it was an evolution and suddenly its ubiquitous.
What will be needed on the way is Killer app Killer hardware provably safe platform to use btc (eg cant be injected with software or hardware errors at fab level) some evolution in BTC tech, to scale or make tx faster, eg, side chains or whatever a few large countries defaulting on debt hyperinflation is a few other countries I feel that all of these are inevitable within a 10 year horizon Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: jubalix on April 28, 2015, 11:54:00 AM Or are you waiting for bitcoin to gradually become popular alongside fiat? What are you waiting for? The fiat system is never going to collapse. It is backed fully by the most power military forces on earth. The printing presses will never run out of ink. Bitcoin will almost surely remain a tiny sliver of the global economy. It has no central power to promote, protect, and advance its cause. I think the more likely scenario is that fiat will take on more of Bitcoin's digital characteristics over time and perhaps also grow in transparency. I think it does have some strong central gov powers driving it. Every suboptimal fiat decsion govs make can now to be some extent arbitraged into BTC value Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: Snorek on April 28, 2015, 11:56:10 AM Or are you waiting for bitcoin to gradually become popular alongside fiat? Let's be realistic FIAT system won't collapse, ever. As long as people are maintaining a civilisation there will be FIAT as its backbone. So I am just waiting for bitcoin wider acceptance and when I will be able to buy everything you can find online for bitcoin - then wait will be over for me.What are you waiting for? Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: WhatTheGox on April 28, 2015, 11:57:32 AM Or are you waiting for bitcoin to gradually become popular alongside fiat? What are you waiting for? I was actually just waiting for adoption on the side and in countries where govs aren't as strong as USA,UK,China etc. If fiat systems collapse in one of the major countries it seems hard for me to believe govs will lose all their power overnight, maybe they would? If they dont this means some other BS new fiat system launched the next day. Title: Re: Are you waiting for the collapse of the fiat system to trigger BTC adoption? Post by: ChuckBuck on April 28, 2015, 01:02:15 PM Are you waiting for the collapse of the fiat system to trigger BTC adoption?
No, I'm waiting for Christmas. :D Seriously, I love Christmas time and holiday season. 8) In all honesty, we are only 6 years in this technology, and word of mouth and that viral "network effect" has yet to happen. We all just have exercise patience and contribute where we can in the meantime. |