Bitcoin Forum

Hello guys,

Do you think bitcoin will be a threat to USD and Pound Sterling in the nearest future?

if yes, give an estimated time this can happen.

Dollar is now used for most of the international transactions all over the orld. It's not fair that USA can control all the countries transactions. I think it will change in future. A cryptocurrency which is not controlled by a special country is a good option. But It's difficult to predict that currency will be bitcoin or not.

Sometimes there are people who think like that, but I think that is not a threat to the dollar, because I think all have their own place in the use of this currency.

I do not think Bitcoin is a threat to both. Because basically everyone who holds Bitcoin will still exchange their Bitcoin with local currency, in order to be used to transact traditionally. We know that Bitcoin can only be used online, while dollars and poundstreling can be used online and offline for wider transactions. So, Bitcoin is not a threat.

With so many people transacting using bitcoins or other cryptoes it could threaten the dollar with a run, and I think within the next 10 years it's enough.

I do not think anyone is threatened with bitcoin coming in and that includes dollars, all mutual benefits in transaction activity because until now most bitcoin is still used in online transactions.

All government backed currencies derive their legitimacy from the government and give power and control back to the governments in return. The system works well if you assume all actors are honest and have the general population's best interests in mind.

History has shown that is hardly the case. More often than not banks, governments and businesses collude to create conditions where inequities keep increasing and those at the bottom continue to serve those at the top. This is enabled by an unlimited currency supply which only gets inflated and the burden is passed on to the common people.

Bitcoin has the power to change this equation with it's property of being a decentralized currency that does not need a trusted party like the government to give it legitimacy. It is power to the people as people choose to believe in verifiability and robustness of the underlying code and network rather than the central bank's word. So yes, As far as the long term effect is concerned, it is definitely a threat to established currencies.

Right now, bitcoin is gaining strength and someday in future (very near future), bitcoin will be used as USD - to value and convert almost everything.

It's not a threat to USD. It's just an alternative, there is space for both. In international transactions, internet payments, etc, BItcoin may be a preferred payment system.

But I doubt USd will de threatened. However, just in case, I hold some BTC  ;D

There is a threat, I think that the next 10 years will be decisive ...

Bitcoin is never a threat to USD, pound sterling or to any other fiat currencies all around the globe. Cryptocurrencies were not made to destroy fiat currency but this is made to complement the fiat currencies to overcome its weakness which is the monetary deflation due to economic collapse or overprinting of paper money. Though bitcoin is not a threat to the current fiat currency it is a threat to the banking system since bitcoin wants to us to be our own banks and will no longer rely on the unjust and unfair traditional banking system practices.

Cryptocurrencies are not controlled by any country so its good if it would be a threat to any other controlled currencies but i highly doubt that will happen in the near future.

Looks like bitcoin does not threaten the USD and Pound Sterling, because people are still exchanging bitcoins to USD. Means the state of bitcoin is also very dependent on the USD, because the use of bitcoin is still not maximal unlike USD which can be used anywhere.

it's hard to predict that this is a threat, in my opinion this is not a threat, but its value is still weak, because uncontrolled, I hope everything is fine, because many crypto users wear it

The US dollar (American Dollar) is used internationally all over the world by many people, I know when I go to purchase something off someone online it is 99% of the time based around the US Dollar. I believe it would take a lot for something as new as bitcoin to even come close to take over the USD. Reason being that bitcoins supply is limited it doesn’t account for population growth and such unlike the USD or GPD.

As far as currency is concerned, weather crypto or paper money, USD is still the major legal tender used both online and offline so i dont think bitcoin is a threat to it.

No currency will last forever, that include bitcoins also, but I’m sure the dollar, euro, pound, and most of the other fiat currencies will fall someday. That can be 5 months from now to 20 years from now.
Most of them are full of dept; build on a system where they need to keep printing new currency each day to pay yesterday’s dept. In the end the countries will stop accepting others countries currencies, and then a digital currency like bitcoins will be the new world currency.

Of course that they did this on purpose, as mostly oil trade is done in USD. You pointed it well. As we can see mostly people who are accepting donations are moving towards cryptocurrency and by looking at the merchants overall. So in the future cryptocurrency has high potential of taking its place as internet money first. It will be hard to speculate when FIAT will be totally replaced as this could take like 10years or even 100years.

Bitcoin is basically not a threat to fiat currencies especially base currencies like USD and Pound sterling. Its just a means of payment and just becoming an asset overtime. You can access your account and not through a third party. Its one of the advantages of cryptocurrencies.

Very true and I think if we look at the actions of governments and bans in some countries, this is proof that Bitcoin is a threat to fiat currencies.  We can also look at the market cap and consider that a lot of real money is going into Bitcoin.  The real question though is how much of it is invested vs actually used on a daily basis for trading goods and services?  I think this is Bitcoin's biggest weakness as the fees and are high and transaction times very slow.  But I would agree and consider Bitcoin is a store of value and sort of a replacement wire transfer service so it is really more of a threat to SWIFT.  But the thing is that crypto is liquid, it is easy to exchange some Bitcoin for other coins that are more easily used on a daily basis and I think that's why Bitcoin is considered a huge threat anytime a normal person buys or receives Bitcoin.

Bitcoin may be a thread to paper money not as a currency. If usd and other currencies will change their shape they can be succesful too. But Bitcoin will be huge because of limited cap.

Why does everything have to be about competition? Why can't bitcoin, USD, Pounds and other currencies available in international trade can co-exist in making life easy for everyone. You want to send money out of the country to pay for goods no matter the amount that is to be transferred without having to fill unnecessary paper works and some decent amount as fees, use the bitcoin, you want to buy something in the grocery store next door, there is no point of having to use bitcoin where you have to log in, transfer, wait for confirmation or argue about the exchange rate, just use your dollar or Pounds without any issue. From the above scenario while they are currency of transactions, they complement each other rather than competing with each other.

In my opinion, at some point people will prefer virtual currencies, since it will be easier and safer to own them than banknotes, especially in remote regions, and also because these currencies may become more stable over time.

Bitcoin does not threaten the dollar, the euro or the pound sterling. These coins will continue to exist, but bitcoin will push them slightly. I think that every type of currency will take its own niche in the financial world and all of them will walk and be used in parallel with each other. In any case, it will be in the near future.

The Crypto-currency, if it remains decentralized, will never be more stable than now. In addition, with an increase in its price, its volatility will only increase, as with increasing in price, the amplitude of the price fluctuations of the crypto currency will also grow. Moreover, the crypto currency can not be more stable than the dollar, euro or pound sterling.

Also forced to question your claim that virtual currency is easier and safer to own than banknotes. What is easier to do: get a bill from the wallet and pay for some goods, or make a transaction in bitcoin for a purchase? How many transactions will take you and what commission fee will you pay for this transaction? At the same time, you pay the bill very quickly and do not need to pay any commission fee for it. In addition, you need to first the seller dropped your address of the bitcoin purse on your mobile phone or laptop, because it is very difficult to enter it manually. Is this a long and paid procedure much easier and safer? I doubt it.

I don't know that bitcoin in its current form is a threat to either.

Given enough time and bip's they might make it viable, but that depends a lot on global adoption which will be the biggest hurdle I think.

I currently like it as a complimentary system that bridges the globe for sales and transfer of funds eliminating a 3rd party.

It's not a threat to USD. BTC is great, more safe choice for the humanity. And solution for global issues as poverty, for example.

not a threat i guess, bitcoin and crypto is supporting the fiat currency for now.
peoples buy bitcoin with fiat. and many exchange of cryptocurrency that support fiat pairs too.
but we dont know if it will still support for fiat or not in the future.

To me it is not a threat, but there might be some instances that the cryptocurrency and the currency of pound and dollar may overlap amd cause some confusion if not regulated correctly. To me, I would like to think that the bitcoin or the cryptocurrency market would be a supplement not a hindrance to the development and to the help of the market. What should be done, is for the goventments to have a regulation to have specific limitations to both of them

I think it's not a threat to USD. They all have space which in the future one can help in the exchange of the other

Well if bitcoin will be in mass adoption and merchants/people around the world will use it and will be a sort of currency or international legal tender then I guess it's a threat. But I'm sure Government will have it's way how to manipulate or world in line with the current technology in order not to affect the economy. They know's the game.

I don't think bitcoin is a threat to USD or POUNDSTERLING. because they have different characteristics. if bitcoin is accepted all over the world, I think it keeps going with real currency (USD, POUNDSTERLING, etc) because basically bitcoin is created to help real currency transactions. and facilitate payments, and transfers away.

maybe I can not be sure exactly when the threat will be visible to the common people, but since the first time Bitcoin existed, Bitcoin has actually become a threat to the Bank, the currency currently in circulation, and the current financial system, we just wait when it looks more real...

not just a threat for USD and pounsterling, but bitcoin is a threat to all fiat currencies.

but they know that to drop the bitcoin value is very easy, because bitcoin is very sensitive to the negative factors that affect it. just by making a bitcoin user panic, then its value will fall, because nobody is covering bitcoin.

bitcoin can attract investors and the world's attention because of the blockchain system with the decentralized concept that canmake volatility quickly.

Bitcoin is not meant to be a treat to any traditional trading currency, it is created to trade freely throughout the world without the help of a third person or a bank and that is the main advantage we have to take rather than thinking it will replace dollar or pound, the options people will be having when it comes to international trading will be the main difference between fiat and crypto.

It would be a threat a to USD, Pound Sterling and probably all that fiat currencies. Although this isn't the motive or idea behind Bitcoin, Bitcoin has the capability of remitting all the challenges that people face with fiat currencies and offer the revolutionary decentralized system with easy, safe and secure ways of transacting peer to peer, business to business among others with no intermediary. So with all said, the ideals of Bitcoin is to make the financial transactions better than we experience with fiat currencies

I guess that's not true and bitcoin will never be a threat to any currency, because I know between bitcoin and USD, and between those currencies will have their respective roles.

bank dont accept btc as a currency

jes it is

i expect that the american and british central bank system might completely collapse as they all are based on gambling,

and they might have to be rebuild completely

if then a new us dollar and a new pound comes out that is being paid to the corporate labourers,
we can then expect a high price rise.

it would be called a monetary reform.

but the banking cartels in those countries are in my oppinion irrepairable broken, and decadent. so will not be easy.

Yes it is as mentioned by OP, the dollar would be replaced by cryptocurrency since it is not controlled or regulated by any country. If you are a country of course you will want to transact to something that is not controlled by anyone specially if you love democracy. It is something that cryptocurrency gives us, the independence of transacting online without the worries of controlling by anyone.

I think Bitcoin is a big threat to Dollar because most of the countries round the globe 🌐 makes use of dollars for exchange. And I believe bitcoin will overcome dollars and pounds in the nearest future despite the fact that they are trying all means not to make bitcoin generally acceptable it will overcome on a very good day.

I think not, there are many differences in virtual currency and fiat currencies.
and the obvious difference appears on the stock market. well because of this factor bitcoin will not have a big effect on fiat currency.

Depends on the timeframe imho, on a long enough timeframe I do think cryptocurrencies will make a dent in fiat money, and in Bitcoin's case also in precious metals value by becoming an easier to acquire & manage store of value, we're already seeing signs of that in inflation ridden countries.


Mehdi

A threat like making USD and Pound sterling go extinct? then no. fiat currencies can't be done with because of cryptocurrencies. Bitcoins is operating in it own domain as a peer to peer payment while fiat too is fulfilling it purpose as government legal tender.

but still btc can still be a big threat to usd or any other local currencies because many people right now are started to recognized and use btc when compared to local currencies. Sooner or later btc can dominate all other currencies if this trend will continue to happen.



That is what im also thinking but i guess there can still be people who will continue to use fiats because they dont have access to these bitcoin and other cryptos . Few examples could be poor people that cant afford to buy a gadget that is internet enabled and if ever they can afford it they can still be having a hard time to understand and learn cryptos because they are not educated due to poverty.

I dont think bitcoin is threat for dollar or poundsterling. Bitcoin is cryptocurrency with limited supply and its can not compare with dollar supply that flooding in the world. I think bitcoin is like new digital asset that we can bring anywhere and used anytime

No, I don't think that Bitcoin is a threat to USD, pound sterling or any other currency in the world. The governments would never let a currency take over their national currency and they would ban it before it will even become a threat to their currency. Think of Bitcoin as a parallel currency which is digital.

I don't think so. I think bitcoin will help the economy even. We exchange out btc to usd. I don't know with other countries but this would really be beneficial. When we withdraw our btc it most exchanges i know exchange it to usd so it would even help pump up the dollar.

Bitcoin : The most unregulated thing in the world with no real presence Having the investment based on the illegal tender around the country and Reserves Banks polishing the notices that they will ban it soon and anyone putting money into it is taking their own risk of doing so.

USD/GBP or any fiat : Is highly regulated one, under authority of Reserve bank and with rightful laws given the permission to trade with full confidence within the country and over the international transactions.  :P

Now you tell me do you really think that BTC is threat to the USD or GBP.

No, it can't threaten them directly.The way foreign currencies work and their market estimates run, are entirely different than that of the bitcoin markets.Cash isn't limited in supply,notes are printed.The usage of bitcoin  will not affect them unless majority of the markets choose to accept bitcoin as a primary method of payment over cash.

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of course it is a threat! you just now look, what a large capitalization has left banks! people began to invest in the crypto market! on this all the stick in the wheel inserts the banking sector! I'm sure that soon, maybe in 30 years, there will be one universal currency! and it is possible that this currency will be bitcoin! People are tired of living in constant inflation, due to the fact that countries are constantly printing new money!

Basically everyone who holds bitcoin will still exchange their bitcoin with their own currency in order to use traditional transactions. We know that bitcoin can only be used online solely and while dollar and pound can be used online and offline to transact widely and bitcoin is not a threat from all countries but rather increase the world economy. 8)

No, as long as bitcoin volatility still high, it cannot become a threat for fiat currency.
the reason peoples dont use crypto as a daily currency yet is because the price of cryptocurrency is easy to change.

in my opinion, it could happen, but I think it is not a threat to the dollar, because bitcoin is the digital currency ...

I doubt that it'll become a "threat", per se.

If you are talking about the fact that bitcoin adopters are going to continue to increase at a pretty fast pace, and its market capitalisation will likely exceed those of a few fiat currencies of smaller countries, then yeah, I think that's definitely going to happen in the near future.

However, even if that happens, is that really a "threat" to GBP or USD? Probably not. Bitcoin can exist alongside these fiat currencies as a popular alternative, and governments will try to regulate bitcoin to the highest extent possible. Although, fiat can definitely lose a lot of value in a short amount of time and eventually cause people to seek alternative store of values, which is something like what we're seeing in Venezuela currently.

if in my opinion if the threat is also not gan. the reason I am everyone is not necessarily they can invest in bitcoin Because they can not use digital tools.
there are even people who love to work in the real world instead of investing in bitcoin. because in Daira I live the number of people who do not use bitcoin still a lot .if compared people who invest in bitcoin. even i think bitcoin and paper money will go hand in hand with .

I do not even know why people keep thinking bitcoin is a threat to any currency except cryptos. May be this people do not understand how bitcoin works that it is a virtual currency and can only be functional with the help of computers and internet. Dollar and pounds are physical cash and can be used by everyone. Bitcoin is even not known through out the world yet like pounds and dollars.

Bitcoin has always been a great threat to USD and Pounds that is one of the reasons Government does  of want bitcoin to gain ground in their economy but no matter what it will continue to be. 

Today and in the near future no , I do not see Bitcoin or any altcoin  to be a threat on both American Dollar or Pound Sterling. Although Bitcoin I think is the better currency, people are really used to using USD and many people specially Billionaires will make sure that Bitcoin will make sure that Bitcoin or Altcoin will only be considered as an alternate currency.

I think bitcoin is not a threat to USD since we still really depends on the physical USD currency.

USD is our main physical medium of exchange when we go to restaurant and stores. We cant easily say that kryptocurrencies will takes place of USD since we still need  to innovate a secure data base that nonone could hack or attack.

For me kryptocurrencies like bitcoin is not a threat since not all countries are fully indutrialized or innovated into new technological market or country. ;)

Actually so many people might think bitcoin is a threat to doller  pound and sterling but its not a threat to all these currency because each of them have their own way to function but the way bitcoin is moving now it looks threating  but its not.

Hello everyone, I think in the coming years is not yet a threat. But in the future I think digital currencies will replace ordinary money

Bitcoin is too weak in capitalization to replace the dollar and pound sterling.
Thus, bitkoyn and other crypto-currencies do not pose a threat to the central banks of the world, let alone a fiat currency.

maybe all that could happen no one can know for certain predictions of that time when if the development of bitcoin advanced more rapidly it certainly can all happen

I think all the chances are there but I think it's all impossible for now

NOOOOO! Bitcoin is definitely not going to be a threat to USD and Pounds Sterling. You know why? This is because bitcoin will all require fiat currency such as USD for its rating and exchange. Few year to come, bitcoin will get direct exchange rates with other currencies worldwide. With this, I believe trading in cryptocurrencies will be much simpler and faster.

do not think that bitcoin will be a threat to other currencies precisely with the existence of digital money so many changes that have occurred because bitcoin can provide different ways can ease in all things in the form of investment and even secure transactions so I think that bitcoin will be the currency digital that will never threaten the existence of other currencies ;)

I don't see bitcoin as a thread to other fiat currencies. Bitcoin is one of the best product of technology and through it we can do transactions online. Virtual money like bitcoin does not compete with fiat currencies. Bitcoin just want us to hold our money by ourselves; by having a wallet in your own gadget.

it depends on the country, if the state already recognizes automatic bitcoin currency of a country will be threatened by bitcoin.

It may be, when all world accept bitcoin as legal currencies. but still the dollar and pound will accept as they have legal stable value.

Hi there kappajess! As of this moment I cant see bitcoin as a threat. What I foresee is that dollar and pound creation will be lessen in future because most of the poeple will prefer to use payment in electronic form as oppose to a physical cash. By then the inflation rate of those country using it will goes up. The amount of those money will be lessen that could also be a reason to increase its price against other currency. That could be a win-win situation by then. But if the bitcoin cross more river than that, the government will then create a reason to minimize the use of cryptocurrencies.   

I think that bitcoin is not a threat to fiat money. I think that he will be on his own, apart from them. If such a threat appears, it will be a completely different bitcoin.

I don't think Bitcoin is a threat to the USD or the Pound Sterling for at least few decades as the current adoption rate of Bitcoin is still very low and it wont be easy for Bitcoin to overtake already established currencies like USD and Pound Sterling. Also the governments wont allow a decentralized currency like Bitcoin to over take their national currencies.

Not at all, USD or GBP could be easily printed over and over again.
What governments really fear is that they can't control volatility of bitcoin, they try to manipulate it as hard as they can with these futures trading, fake news and so on.
But in long run, this method will fail, people aren't that stupid to keep falling for the same "government games" all the times.

It's not. Fiat money won't disappear and cryptocurrencies weren't made to make people stop using money. They were made to give them a choice, an alternative. You dobn't like how your government is treating you? You don't feel safe? Keep some of your money in cryptocurrency!
If the government sees that maybe it will start to think about improving their fiat money or fighting inflation.

I do not think that the virtual currency will squeeze out the usual money so quickly, so today's currency should not be much worried, but it's worth thinking about ;D ;D ;D

Maybe in the future bitcoin can crashed American dollar, but the percent of it is small, so we can sleep calmly

I think bitcoin is not a threat to other world currencies including dollars because they are different, they have their respective places

Those who are out there are always and overly concerned about bitcoin development in many countries, and that is their right and not a concern for us.

No.Not at all.Bitcoin has the biggest drawback that it could be only used in internet.Also it being a digital currency could not be used by uneducated people.It has just a limited supply of 21 million coins which makes it impossible to use it as a primary currency.

I do not think bitcoin is a complement of the fiat that currently has many restrictions, and I do not think bitcoin will ever be a threat to dollars, euros or pounds someday.

Yes, definitely it is! It is a threat not only to those you already mentioned but to all the fiat currencies of the world, it is a threat to all the existing financial institution most especially to the banking sector where the Bitcoin would take its place and remove the third party of any transaction and it is happening now but of course, the resistance from this sector is here thru the government whose the primary beneficiary of the current financial systems today.

In my opinion, Bitcoin is not a threat to both. Because basically everyone who holds Bitcoin will still exchange their Bitcoin with local currency, in order to be used to transact traditionally. We know that Bitcoin can only be used online, while dollar and poundstrelling can be used online and offline for wider transactions. So, Bitcoin is not a threat. These are two different technologies.

i think it is not a threat, bitcoin is just another form of currency in our world. And i think bitcoin still cannot replace USD or other fiat currency for now.
So, it wont be a threat for fiat currencies. But i dont know many years later, maybe it can replace them.

I think bitcoin will not be a threat and will take its niche as the dollar took a niche in Fiat.
Bitcoin by far is bitcoin. However, the most popular and widespread will be only the cryptocurrency that will preserve the privacy of its holders.
Why change the awl to soap if there are no pluses or profit.

From the statement of CEO of twitter.
Bitcoin will be the only one currency in 10 years from now.
So, i think there will be no fiat anymore in this world in 10 years, everything is digitalize and online.

In my opinion, at some point people will prefer virtual currencies, since it will be easier and safer to own them than banknotes, especially in remote regions, and also because these currencies may become more stable over time.

I don't really foresee bitcoin becoming a threat to any major fiat currencies, because fiat currencies are most likely going to continue to exist regardless of how much market cap or how much adoption bitcoin gains over the years.

But, if you are talking about the level of adoption and the level at which people are using bitcoin rivaling the USD and British Pound, it could be possible. As mass adoption comes by, which will probably be a matter of time, some may even choose bitcoin over fiat for day to day commercial activities.

There are already a niche group of people that are storing their wealth exclusively in bitcoin. BTC will be a nice decentralized alternative that has the potential to go mainstream. But replacinig the actual national fiat currency requires more than just adoption, imho.

I do not think bitcoin will be a threat either USD or Pound sterling in the near future or in the long run, because I believe that it will have their own position, believe all will go their own way.

So i can take the message from above to be real diversification means not everything in a portfolio should be crypto.

Next question should be if i want to add some Gold to a portfolio can I get it by exchanging crypto for it rather than using fiat?

US Dollar is the main mood of payment of every international transaction. It is the currency of The United States of America. The United States of America dominated all over the world since long. The other country are dominated by USA. I think this should be changed. And this change can bring the crypto currency. Only crypto currency can bring equality in case of foreign transaction. When one of the crypto currency, Whether it is Bitcoin or other crypto, will be used as main mood of foreign transaction then all currency will feel equality in case of foreign trade. And it is not so far.

Can’t we all just get along? Bitcoin is not a threat to any currency. The US dollar and Pound Sterling can coexist with bitcoin just fine.

Bitcoin or any other crypto currency can not become a single currency of the world, nor the basic currency of any particular state. This will always be hampered by the lack of complete regulation of the country's crypto currency and its greater volatility. In this regard, the crypto currency can only slightly squeeze the usual currency in use, but it can not harm ordinary currency, including the dollar or pound sterling. Decentralized crypto currency can only go in parallel with other types of national currencies, however, they can not be substituted.

I would say yes, I think most countries consider it a threat to their economy. Maybe it is indirectly creating a competition to the US dollar not as a form of currency but as a form of a faucet where people from other countries would take as an opportunity for earning dollar while on the other side of the planet thus an uncontrolled faucet would likely affect their economy thus indirectly then affecting the value of dollar. It may have started affecting but we know the economists are really skillful to make some adjustments to battle worst effects so it might not create a great impact.

Indirectly I would say yes! The effects of bitcoin on a country's economy may just affect the currency as well. It may grow or sink in value depending on how big it has gotten to influencing the economic status.

Yes, it could be a threat for USD or other currency because few years from now, peoples may just using only digital currency.
Cryptocurrency is the best option from my opinion. Everyone won't need money or other fiat currency anymore.

In a sense bitcoin could be considered a threat to the US dollar and the pound sterling if in the future cryptocurrency becomes the leading currency. Who knows if that will actually happen. I dont think that it is a threat right now.

I think so, we'd even noticed SEC tightened their regulations about virtual currencies and various new blockchain projects (ICOs). Have you seen those video from veteran capitalist as he predicted the Advent of Bitcoin on 1998. He stated it could be a threat to Fiat currency.

I think yes, the copany of bitcoin is a big threat since they are slowly growing up and builds a strong foundation to dominate in the whole world which leads them to become invulnerable.

no bitcoin it's not a treat to fiat currencies!
just think about it, so evident!
bye

Hi, I think so. And it will be soon enough, namely somewhere in 30 years  or 50 years. So wait and hope

You are looking at the "now" and not the future of the world.
Give us more proof and maybe I can consider your words or look for a hole that says you are telling the truth.

It is a threat and actually that is what we can see now. ETF registration was not accepted and also this dumps could be one of their moves. To make panic to bitcoin investors is the attack.

That I can really see for now. Regarding when bitcoin will take over I do not know. But my expectation is 3-5 years from now.

I think bitcoin is not a threat to both. Because basically everyone who keeps bitcoin, still exchanges its bitcoin with local currency, to use it for traditionally. I think bitcoin will even help the economy. We know that Bitcoin can only be used online, while dollars can be used online and offline for wider transactions. Thus Bitcoin is not a threat to the currency.

Btc are a threat to other currancy's not only USD or Pound but it can change the whole world and btc be the first unit of dealing one and only may be in the next five years we'll see that revolution

Btc strill a threat to other currancy's not only usd or pound but it will may be change the whole world and we'll see that in the next five years

No, btc is a private world. If the European economy is strong, btc will have no place and no competition. Only when the crisis happens does it thrive.

Bitcoin is definitely not a threat to the fiat currencies, such as the United States Dollar and the Great Britain Pound. How can it pose a threat, when it is not  even a currency? Rather than a currency, BTC can be considered as an investment asset.

 I think this should be changed. And this change can bring the crypto currency. Only crypto currency can bring equality in case of foreign transaction. When one of the crypto currency, Whether it is Bitcoin or other crypto.

not at all, now the dollar is getting stronger on the stock market.
and Bitcoin is not related to dollars or pounds at all, bitcoin and dollars have their own functions and uses, in different places.

I think it's too much if someone has the view that bitcoin will be a threat to fiat money. When properly addressed, I think bitcoin will actually help

  ::)I think yes! The transition to a digital economy is not avoided! In the near future 5 years! ::)

So many experts think! Nobody will tell people this! You will pay attention to what financial institutions are involved!How the infrastructure of the market develops) And this is only nacholo! Surprises will still be waiting)The world crisis will put everything in its place!!!Let's not be observers, but participants in this process! Lead only everything is born!

I think that in the near future crypto is not will be the main currency , but another currency like bitcoin can come and win the championship. The dollar is now in most countries and is still in demand

Bitcoin is more a commodity. For that reason it is more like gold, one virtual kind of gold which can be used for day to day transactions(How convenient).

Comparing it to fiat currency is unfair until it stabilize until levels where people can really use it without fearing that when they go to buy donuts in the morning it's worth half of what they had the day before, so you end up eating overpriced donuts. Nobody wants that.

I personally believe that it will stabilize with time, but it will take years for that to happen. For that reason is better for investments right now. People can use it, with it's better to take note how much it was worth the time you bought so you can compare when you're using it and you don't really lose too much over your investment. If thats what you want to do.

In the future i see Bitcoin being used along fiat money for transactions mostly. Just like television didn't make theaters disappear, Bitcoin won't make money disappear. Each person will choose what they want to use probably.

I don't think bitcoin and any cryptocurrency is a threat USD or Pound Sterling and Euro. Now Dollar is main player for most of the international financial transactions globally but in the next future bitcoin can be key player in the global era.

yes bitcoin is a great threat to both USD and pound sterling. bitcoin has a great potential and the ideology behind it and the blockchain technology is a unique one, first of its kind. so surely it is a threat and in no distant time, the world will watch it replace other forms of currency

Ya it can happen not only to usd or pound sterling but it can also become threat to all fiat currency if bitcoin becomes the main stream currency of the world. But it is not possible in the near future but it can take lot of time even if their is any changes.

I agree that in the not so distant future cyptocurrency will be a threat to today's currency  but I also believe that at the moment BTC is not at that level to be a direct threat to the two major currencies, it still needs time.

No at this moment. But it is possible in the future when certain circumstances come. Bitcoin is very quickly introduced into the whole system. ;D

No. Bitcoin is not a threat to the US dollar and the British pound. These two currencies operate and develop in two different markets. From Bitcoin we can convert to US dollars or pounds, and vice versa. Bitcoin owners will convert them into cash for day-to-day use, and buy Bitcoin as a reserve asset, investing in the future. They are interrelated, not contradictory, because they are in different environments.

Yes it is.  The real issue who is behind Bitcoin and why is it being allowed.  I imagine Bitcoin was brought to us by them so if thats true Bitcoin is not a real threat.  I imagine before its all said and done they will make it look like a big battle where the people win and get Bitcoin. 

i dont know but i think that bitcoin and fiat money is very different, first bitcoin just work online and without internet bitcoin is useless, and second in a country they need their own currencies to makes the economic circulation so using bitcoin as the main currency in a country i think its immposible

In short. Yes

The dollar is really struggling to maintain its place and there may be a power vacuum. It seems that no-one really wants to use it as a reserve currency anymore.

Bitcoin could replace it. I don't see why not.


Nobody wants to hold a depreciating asset. Yet, we don't have companies selling stock in bitcoin or oil being bought and sold in bitcoin. And even if governments allowed those things we don't have the capacity right now.

I do not think so . actually usd and pound as supporters of bitcoin can continue to exist

Bitcoin and some other top cryptocurrencies are all threats not only to USD and Pound Sterling but to ALL of the fiat currencies of the world due to their decentralization, the governments, and other financial states might not accept that fact and will do more actions against cryptos but the threat will remain, they will replace the fiat, maybe not now but later.

Bitcoin won't be a threat to them because a lot of businesses are still going to use USD and Pound because they are the most recognized in the fiat currencies and I don't see it bad seeing them coexist with each other. Bitcoin will just join the  list of currencies and will just widely used on the digital market.

Bitcoin is not a threat to the currency of any country Bitcoin is actually a digital currency that many people invest with the hope of making a profit after investing more they make the technology market. More attractive

is not a threat is an option that could be more feasible that the dollar or the pound to substitute would have to spend many things like a volco to the dollar or a financial crisis that happens in the United States or England that makes everyone relax the dollars also some bubble in the treasure bonds of those two nations or if a rise in the oil happens, many factors will be the cryptocurrencies among them bitcoin leading and many time also can last many years as the dollar enveloped the world everything is in what people return the dollars to that country can be fast as a stampede or for several years everything depends on the market

It can be said that, if the use of bitcoin continues to increase it will automatically make the use of international currencies such as dollars, pounds, EURO and so on will decrease, this is what makes many countries worried and banned bitcoin to reduce the influence of bitcoin.

I believe that bitcoin can not threaten any currency. Crypto currency at the moment you can not buy something outside the Internet and in any case need to be converted to local currency. Once bitcoin can be paid in all stores, then there will be a threat. I think this will never happen.

I would say yes it's a huge threat.  If people start transacting with Bitcoin versus their national currency the world will change very quickly.  It will be interesting to see how they attempt to deal with it. 

Yes it is a threat as lots of conversion goes on,from dollarpound and other currency to BTC, I feel overtime several countries will begin to convert part of there currency to token in order to achieve the cashless policy advocacy.

Why just USD and GBP? What about EUR, CHF, CAD, AUD . . .

Get the point? It's a threat to all currencies, just like amishmanish said


But if it's bitcoin itself that finishes them, we cannot know. All that matters is that we figured out a way to do it now. Bitcoin may not work out, something may go wrong, but at least it's clear now: we can exchange money in ways that have never been done before. This step up is groundbreaking in concept and will shape the future to come.

It probably won't threaten strong currencies like the British pound or US dollar, it is a threat to weaker currencies like turkish lira and those in south america. The USD threat is more to do with global influence where countries like iran will trade with bitcoin when selling or buying from other countries rather than usd.

I think that now bitcoin is not a threat to anyone. Because it is so small that it can not compete.

No, never. The paper money currencies is belongs to each countries but the cryptocurrencies belongs to the world. I believe that we get united with it. If all the world start to use bitcoin there would be one currency in the world and it means great to me. I hope one day it happen..

I do not think it will affect the fiat money. Because Bitcoin is electronic money and it only pays electronically. fiat money will be paid in a different way and the forex market will control prices.
In general, Bitcoin will not affect the value of the fiat money. It is a good money transfer tool.

Look bitcoin is totally a different crypto currency and I don’t find any competition between bitcoin and other crypto currencies or to usd or any other Fiat currencies because the working of bitcoin is entirely different from all these currencies and I think that it makes the bitcoin most successful one among all the currencies but yes in the end , bitcoin is threat to all the Fiat currencies and as according to the market, now people started liking crypto currencies more as in comparison to Fiat one and yes there is a threat to all the Fiat currencies.

Frankly speaking, I do not think that the task of bitcoin is to overthrow the existing world currencies. It will be an excellent alternative, but people will still use national money.

I think bitcoin will more or less become a threat to the US Dollars and Pounds Sterling because digital currency will soon be used in every aspect of our lives and countries around the world are already considering turning to the likes of Bitcoin.

Bitcoin will not be able to displace conventional government money and replace them completely. People will use different currency formats, but our usual money will not disappear.

it can happen in the event of a global financial crisis when the dollar and other fiat currencies lose credibility to themselves. That bitcoin was equal to the entire dollar mass, he's price should be more than $ 200,000

I do not think it is a threat. It is just a tool to improve our society. Bitcoin helps us to do business fast and not to depend on institutions. It just another option. Bitcoin has its own path. It has no country to support. It is meant to be a global currency. Therefore, other national currencies have not to fear. I do not believe we will all use bitcoin in the future as one currency. Many people think it will happen but it will take time. Banks in the future will integrate bitcoin and use it as well. All in all, it is not a threat to the financial institutions. It is just an additional option to improve business and the economy.

No! Bitcoin is relatively new; in stability and acceptability. Both dollar and pound are age long fiat currencies of two very big and stable economies, with the dollar wielding  tentacles on almost the entire global economy because almost every global trade is denominated in USD, and it will remain so for some time to come. Also, not every country including the USA that favour or support the use of bitcoin or any other digital currency. Most countries don't. So bitcoin is no threat to either of them. At least, not now.

For government maybe yes, because if people start to use Bitcoin and it can adopted everywhere, USD, Poundsterling, or other currency can get threated. That is why government in some country make bitcoin illegal to avoid that thing can happen

Everything is possible, but as for me, bitcoin is a relatively new technology that with every year we better and better recommend ourselves, but as is known in world history as soon as a catastrophe comes or something: Dolars, or pounds, is not important right away It's not just a bad currency, but still. The exact time can not be said

I don't think that for now in August 2018 somebody is considering a bitcoin like a threat to those global currencies like Dollar or Pound, because those are symbol for hundred of years.

a lot of people now say that the dollar will soon disappear! but the world community is not yet ready for crypto currency. Today, we learned how to use crypto money a small number of people on earth. on this dollar will not disappear in the next 50 years.

To me not every country including the USA that favour or support the use of bitcoin or any other digital currency. Most countries don't. So bitcoin is no threat to either of them.

I think it's a threat to fiat currencies in long term, but not sure about short term to be frank. Too many things depend on fiat currencies, so only something really huge would crash it

I think that BTC won't be a threat yet, I think that BTC has not that much of  firepower as what USD and Pound Sterling has dealt, so I am not quite sure about it, but if in the future, it may happen wherein BTC will surely be a threat.

I think that the next two years there. The next year will become years of recognition at the state level. The real economy will need massive use in two.

  To my point Bitcoin is not at all a threat to USD and Pound Sterling because bitcoin is transferring from the exchange either to USD or the Pound Sterling.The above currencies are powerful in the world due to the financial stability of above countries.Bitcoin can be operated world wide but the other two currencies are originated from the two different countries.According to my view bitcoin is a service oriented coin originated for the benefit of the global community for their daily requirement so bitcoin will not be a threat to any currency.

Nope. USD and Pound are the two strong currency and they aren't easy to be replaced. USD is used as a general standard for international calculations. Also, USD and Pound are controlled and backed by governments of strong econoly - the US and the UK. You know, the two economies are able to manipuate the price of their currency. At the same time, Bitcoin isn't backed by any organisations and even outlawed in many countries.

Bitcoin is far from being a danger to any currency, much less to the Dollar or Sterling. A national currency is issued and backed by states and the currency empower the states to control and regulate the country. That is to say, government and their currency harmoniously interact. Other methods of exchange will never be legally used without permission from governments. In other words, the government can totally control the popularity of Bitcoin if they allows it to enter their economy.  For that reason, I don't think Bitcoin has any chance to threat existing currency, especially stong currency like the USD and Pound.

The world’s currencies are on an endless roller-coaster ride, their relative values constantly rising and falling in relation to each other, with the occasional stomach-churning drop. Last year, it was the turn of the US dollar to hurtle downwards, as UAE expats earning dollar-pegged dirhams know to their cost. The dollar suffered its worst year in a decade, hitting UAE residents with financial commitments in foreign currencies, as their earnings do not travel as far as they did a year ago. Well, if Bitcoin can't, then the US dollar can. Everything will in time be good.

Yes, bitcoin is a threat to USD and pound sterling or other fiat money, but not in the real sense. exactly, as an alternative that is very well liked by the public Because bitcoin is more efficient dan more reliable.

You needed to state your position on this issue, and not just put the issue for discussion. How can bitcoin threaten the dollar and pound sterling? In my opinion, bitcoin and other decentralized crypto currency are not threatening these currencies. Decentralized crypto currency will be able to walk in parallel with any kinds of conventional currencies.

i don't think that the USD is really threatnd by bitcoin. the rise or fall of bitcoin has nothing to do with USD, and for the records the USD is mostly used for most international transactions this days, and also for the records it is not only the USD you can actually change you digital currency into,there other currency which actually supports too. so i dont think the dollar will anywere be affected ..

No.
For the fact that bitcoin is a decentralized virtual currency while pounds / USD are paper money makes it impossible for bitcoin to threaten their existence.

The answer is no,bitcoin with its technology has its offers,aims,features, I dont see any possible threats to dollars and pounds even at the long run,bitcoin is a digital currency,

Bitcoin is not a threat to any fiat currency out there. Please stop the paranoia. Also not a threat to central banks, governments, etc. Stop watching conspiracy theory videos on YouTube. Bitcoin will coexist with all of them.

Bitcoin and other crypto-currencies at the moment are not a threat to any fiat money.
Crypto-currency is generally a threat to the governments of all countries - because it is not controlled in the main and governments can not control bitcoins and other crypto-currencies.

Ever since the bitcoin expanded its territory it has been started to become a threat for pound and dollar. Knowing that this two well known currencies have the largesg value therefore making them be the wants and needs of many of us. But since the time we have since bitcoin's value, we turn unto it.

Bitcoin cannot be a threat to USD, Pound Sterling, or any other conventional currency. Not in the next decades, at least.

if it is called a threat, I think it is not right because both the dollar and the btc play their respective roles at the moment, but if in the future where btc is fully legal and become a recognized transaction tool throughout the world it is not impossible that it will shift the existence of the dollar at present, isn't that change necessary and every thing in the world must have a time, a time of glory and there will also be a time when all ends as well as dollars, so that is not a problem to be debated continuously

I don't think so for now, I don't think bitcoin will be a threat to the USD and Pound sterling. and bitcoin is still an asset. but it is not impossible if someday bitcoin will replace all currencies, but it takes a very long time and process. all possible in crypto. 8)

No it will not be a threat because Bitcoin was created as alternative investment to earn more fiat currencies particularly the US dollar currency for our future spending. In fact the US government and the United Kingdom did not ban Bitcoin as investment and currency as they see it as no threat at all as long as it was properly regulated.

Come on it is an alibi given by the government to ban the use of bitcoin. I don't think bitcoin will threaten the existence of dollars
or other fiat currencies. You're right. we only use bitcoin as an option no more than that? there is nothing to fear from bitcoin

Of course, not! Not yet, at least. Are you kidding? BTC is a fetus as compared to those two fiats. Besides, it is totally different from them and people don't seem to know its real potential. Until they do, no one can be 100% certain as to whether it could pose any threat to other currencies. We can speculate however we wish, but that doesn't change the fact: we know almost nothing about it.

 You you right. I myself don't see that bitcoin will threaten to the local currency let alone replace it as the main currency, that's what the real government feared. after all, just few people that use bitcoin for currency because users are more inclined to use it as an investment. so the government doesn't need to worry about bitcoin

Yes I think that bitcoins and a few other crypto are a future threats to the dollar world domination. We see all the other big economic trying to break free of the dollar, and we see countries who can be kick off the swift international money transfer system. This will in the end leave people to use crypto and the crypto people will choose will be bitcoins.
We are only a few steps away from a international economic breakdown, where no countries will accept other countries inflation hit fiat currencies, all the central banks are printing money in a quantum nevertheless seem before.

Exactly. I agree wih you. Without fiat i dont know how can we be able to determine the value of our bitcoin, through sacks of grain, bars of gold or what? They are two separate currencies with different uses. Like gold, you will never know the value of it per gram without fiat or local currency unless you trade them for commodities with no exact and specific amount or value per transaction.

Absolutely. However, it’s going to take years, We would need to accomplish several key steps. This includes dramatically improving user adoption and trust before bitcoin can even rival fiat currency (USD, etc) in terms of spending power or reliability.

Of course, if we can solve the main problems with adoption and build the right infrastructure, we could end up reaping all the advantages bitcoin such a system would offer.

It is not a threat to the US Dollar. The Dollar is tied to too many commodities and too integrated with international trade. The pound will also probably not be replaced any time soon. The currencies that are at risk of replacement from BTC are the from countries that are in economic distress. Like Turkey most recently where its currency has been falling dramatically. Venezuela is another example where BTC might replace as it is a way for people to deal with rampant inflation.

I think that in the future bitcoin is a threat only for payment systems, such as a visa, and western union. But he can never stop the dollar. After all, the dollar is an important part of the economy of the whole world.

Yes indeed. Bitcoin threats all powerful currencies like dollar, euro, yuan, Macedonian dinnar :) I mean bitcoin shows up to rule them all and revoulitionize all economic system . In ten years no currency is matter.

Bitcoin will surely be a threat to Dollars and Pounds Sterling. The reason is because as time goes on, people will chose using Bitcoin instead of the pound or dollar.

Its not really a threat because we cant compared fiat currency with that of a digital currency, fiat will always take the lead as the most accepted means of payment.

At least for now cryptocurrency is not t threat for USD or EUR or other currency, but later i don't know about it.
Because currently there are still peoples that prefer to use fiat currency than cryptocurrency.
Crypto need to be used more, and when everyone use it, crypto will become a threat for fiat.

Yes all fiat currencies are slowly dying.  I think the plan is for them all to crash leaving Bitcoin as the replacement.  I think we are in the danger zone now and it could happen whenever the plug is pulled. 

No, it is not a threat but if all the people get involved into bitcoin and every deals can be done through bitcoin then only it will become a threat.

yes of course it is because bitcoin if it is mass accepted that all Fiat Valtas will go to waste

As of now there is no threat to fiat currencies like US dollar and Euros which is recently announced in the report issued by IMF. But in future cryptocurrency can replace the fiat currencies which are controlled by the centralized authorities like Governments.

I think Bitcoin is not a threat to both because Bitcoin is just digital gold.

Bitcoin has value when it comes to PAIR with FIAT like USD and Pound Sterling.
If Bitcoin is Paired with Altcoins, then there is still no value.

Indeed, Dollar and Poundsterling should not worry bitcoin will take over. Many country in the world still dont know about bitcoin but if bitcoin become acceptable in many country, bitcoin can take dollar and poundsterling place because bitcoin more safe to carry and more secure

All possible in crypto. of course not! Are you kidding? It is completely different from them and people do not seem to know its true potential. However, we can speculate, but that does not change reality: we barely know anything about it. We see all the other major economies trying to escape the dollar, and we see that countries can launch fast international money transfers. We are just a few steps away from an international economic crisis, where no nation accepts inflation from other countries hit on fiat currencies, all central banks are printing money in an amount Death still seems like before. However, it will take many years, We need to take some important steps. Of course, if we can address key issues with the application and construction of appropriate infrastructure, we can derive all the bitcoin advantages that a system will provide. The dollar is tied up with too much commodity and too integrated with international trade. Monetary risk currencies from the BTC are from countries with economic difficulties. Venezuela is another example that BTC can replace as it is a way for people to deal with inflation rampant.

I don't think that bitcoin can threat to USD and pound sterling even now or in the future

Are you kidding? It is completely different from them and people do not seem to know its true potential. However, we can speculate, but that does not change reality: we barely know anything about it. We see all the other major economies trying to escape the dollar, and we see that countries can launch fast international money transfers. We are just a few steps away from an international economic crisis, where no nation accepts inflation from other countries hit on fiat currencies, all central banks are printing money in an amount Death still seems like before. However, it will take many years, We need to take some important steps. Of course, if we can address key issues with the application and construction of appropriate infrastructure, we can derive all the bitcoin advantages that a system will provide.

While at this time there is no, because there is still too little development, bitcoin has not yet gone so far, but if all this will develop, it is possible to assume that it will all be.

For me, it will never happen because USD and Pound already survived for a long time and it is not easy to threat to them