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Bitcoin isn't just the new era of currency, it is the new era of money!
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I would like to know if cryptocurrency will replace fiat money in the future, also if so how long it will likely take.
a decentralized cryptocurrency like bitcoin has little to no chance of "replacing" fiat which is completely centralized. which is why i think it will never happen. but we may see in the near future, fiat change form and become more digital than it currently is. and it can use the blockchain technology and become a cryptocurrency itself but it still is going to be centralized and in control of the government and only belonging to one country not a global currency like bitcoin. Also, I would like to know which coin you think would take over if one will. (E.G. Dogecoin, BTG, LTC, XMR)
neither of these are even capable of becoming a serious currency. LTC has the best chance among them but all the rest have serious scaling issues. and BTG is a premined shitcoin. Crypto is already replacing FIAT money. FIAT money is worthless and has no place being the world rserve currency. How can it be the universal ledger in which we all base our currencies off of it? How did we agree to this? How did we let this happen? I guess it happened slowly over thousands of years and the scam just went on and on. Well now it stops thanks tho BTC being sound money. |
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Bitcoin is soaring because of the demand that is taking place and because of the supply that there is. There is only 21 million BTC out there and over half have already been distributed. I have heard that somewhere around something like 25% of BTC has also been lost. This happened in the early days when software was just getting better and wallets were being developed.
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I like both of them. ethereum is good investment and bitcoin is too. I use eth to send small transaction because the fee is smaller. If I want to send big amount of money I use bitcoin. The fee is not problem if sending btc in big amount. Eth is good to invest in ICO.However most of my bag is eth. better to have that both because they are both good and there is no wrong holding that two but if you choose only one of them bitcoin and ethereum i may choose bitcoin that i know this is was proven and tested for you to have the huge amount of money in the future. I choose to hold Bitcoin all day every day. Ethereum is about to implode. I have been saying that for a while now but now that he is defending child porn offenders, it is getting too much. People are starting to realize the negative side of a centralized network. They already threw out their "code is law" rule when they made a decision to fork the network with the DAO hack. |
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Most people think they are going to become rich because of the marketing campaigns these ICO coins run. They get all hyped up and then people just sell them shortly after they hit the market like a classic pump and dump scheme. The developers of these ICOs do this to make money and it's well known as it happens all the time and it's talked about all the time.
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Of course this guy won't invest in Bitcoin. He is old and dying and on the way out and wants to preserve whatever he has left in his world. His wealth probably came from extortion and war and profiting from being greedy so that is all he understands is fake paper money. He will never understand Bitcoin and why it's taking away from his wealth. He's not going to have a happy last couple decades.
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Does it look like Bitcoin died?? If anything it made the price go up because a lot of people fear China for some reason and think they have some sort of power that can be used against all people. In the previous money system with FIAT yes they could enforce their will by regulating the people somehow, but you cannot do that on the Bitcoin blockchain so this has helped BTC actually.
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Holding Bitcoin isn't greedy. The people that are holding them took a chance. They took a chance very early on and believed in a decentralized currency with an anonymous creator and therefore no owner. They helped create value by holding their coins and this is what drives the price. There is only a scarce amount of bitcoins available because of this. This is the beauty of BTC.
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The risk of holding Bitcoin is only there if you have not educated yourself about the world of crpytocurrencies. Luckily, it is not hard to find out information about all this stuff. There are lots of YouTube videos giving great info. The only thing is you have to watch out for where you get your info and from who. Usually, the people with experience that give it away for free are the best.
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That is good that cryptocurrency exchanges are dead in China, this means that the volume is moving towards peer to peer exchanges, like localbitcoins.com. There are more like cadcoin.co, paxful.com, bittylicious.com, and even bisq.io if you want a lot of privacy. Cadcoin.co and bisq.io are the safest peer to peer exchanges I know of that offer you so many privacy features when using their process.
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My target is 10k by the end of the year. CME launching futures trading for Bitcoin is huge because this will allow more of the "dumb money" to start pouring in. Meanwhile the amount of bitcoins in circulation will start becoming more and more scarce so I think right now is when we're going to start seeing the hyperbitcoinization process start to really unfold and see really high prices.
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Institutional money has and always will be around but the thing is, they are losing their power. Centralized governments with their centralized currencies and companies and institutions. These all have failure points and will eventually fail, especially because of human greed. Bitcoin transcends that and promotes saving on the network with a scarce digital asset.
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I believe Bitcoin can become mainstream once a couple more major events happen where people lose more faith in fiat money and end up looking for alternatives like BTC.
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We are still being entertained and we are still being educated. Do not give up hope or belief. This is how the forces of evil win, they prey on the weak and brainwash them with their ego and temptations.
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Bitcoin is a currency and a network. The network is the Blockchain, which is one big public ledger that keeps track of whatever thing value is on it, and Bitcoin is the currency to use on this network to express value.
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Authorities can regulate it sure, but how will they do it and how successful will they be at convincing people that understand the tech better than them. You can't slow down a decentralized computer network, sorry.
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The best way IMO to spread Bitcoin knowledge is by figuring out the easiest way to explain it to people and then just try and talk about it as much as possible, but not too much just let it grow on them.
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I think that is a pretty good guess especially after the 2X fork fails and, once again, people realize that Bitcoin cannot be coerced and changed in any way so for sure will see a big rally again this year.
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You should not feel like you had a lost opportunity in crypto because there is a chance still right now to buy in while to price is so low and a large percentage of the world doesn't even know about it yet.
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