Never, bitcoin will never replace the dollar as a currency. Many factors that make bitcoin can not replace the dollar, among which is no one can control and control the amount of bitcoin, unstable bitcoin prices are also a strong reason why bitcoin can not replace the dollar
Totally agree with you. Bitcoin can not replace the dollar under any circumstances. Bitcoin is a decentralized currency. Nobody will support it like a dollar. And without government support, bitcoin will never replace the dollar I see your point. "Nobody will love bitcoin like people love dollars." Clearly the government will not support bitcoins to an extent of making it the official local currency of their country but some government are actually bitcoin friendly. In Japan and in the Philippines, bitcoin can be used to pay for your bills legally. No questions asked. The government support of bitcoin will surely help for the mass adoption. On the other hand, even without the government, bitcoin can still prevail. Fiat currency can die on its own and bitcoin can replace it. To save yourself from the never ending inflation of fiat, you would switch to using bitcoins. |
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For me bitcoin because bitcoin is easy in transaction like pay our billings, no more to worry in bitcoin because can sure it safe, [1]while in cash its not secure. i use bitcoin for transactions. And the bitcoin is more benefits than cash. [2]Bitcoin is many uses in overall everywhere to use. [3]Bitcoin have an future because it in demand and become most famous currency. [4]Because bitcoin is fast among all payments with an internet access unlike cash you don't to go outside its secure in bitcoin. Bitcoin is many benefits like you can hide your wealth that no one knows. Bitcoin is global acceptance and most familiar currency.
[1] How exactly is cash not secure? You pay the guy, then done. How is that not secure? [2] I don't think I can even use bitcoin in my country. People are just so ignorant about it right now. [3] Bitcoin have a demand because investors are starting to come in. But definitely bitcoin is not the most famous currency.. The most famous currency is dollar. If you ever got around to talk to a stranger, ask him about dollars and he'll know about it. He might even know how much is a dollar when converted to your local currency. But bitcoins? I doubt that. [4] Bitcoin can be fast. Bitcoin's transaction can be fast if you put enough transaction fee. Otherwise, it will take days before your transaction gets confirmed, in this case, bitcoin is definitely one of the slowest payment method online. |
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I don't think so that Bitcoin would be that popular if it had a stable price and it lacked volatility because many people who buy Bitcoins are for the potential gains they can earn because of high price changes. This volatility is one of the biggest advantages of Bitcoin over any other investment.
But the volatility is also bitcoin's weakest point. Just like today, the price of bitcoin was $2900 and now it's just $2500. That's $400 difference and back then, the price of bitcoin was just even $400. Eventually, a thousand dollars movement will just become a normal thing to bitcoins and that would continue to grow as the price of bitcoin grows. Volatility is only an advantage when you bought bitcoins and the price has went up. Otherwise, you'd wish that bitcoin had a stable price as well. |
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I highly doubt that Bitcoin will replace Dollar or any other flat currency. First of all, Bitcoin is just a cryptocurrency that was invented and now being used for digital payment (Which is not new since it was invented in 2009). A lot of Digital Payment, like PayPal which was invented around 90's, were already invented before Bitcoin and it did not replace any of the flat currency like Dollar. Having to adopt in the new technology is important which is why Bitcoin is being used as an alternative digital payment. However, traditional transactions with the use of paper money or coins with a flat currency is very important and can not be replaced because these flat currencies are being managed and controlled by a central bank of a country in order to balance the inflation and the economy of the country as a whole.
First of all, it's fiat currency and not "flat currency". PayPal and bitcoin are two different things. They pretty much have a really big difference. PayPal just allowed you to use your cash in digital mode. It just makes your cash reside on the Internet. People are using it mostly because most merchants accept it too and so that users won't have to enter their card credentials every time they do a transaction. It's like a trusted party online for another trusted party (which is the bank). Bitcoin, on the other hand, is much different than that. Bitcoin is another currency with a different concept with fiat. So basically PayPal never stood a chance to replace fiat because it's basically still fiat, just in digital form.. Bitcoin is a lot different so it has a high chance to have a different future. |
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Paper money will only burden the state budget, the cost to make paper money is very expensive, in order to reduce the use of paper money, many state governments are calling for the use of debit or credit card, as well as not complicated in transactions, also safe from robbery, I think paper money in The future of its use will decrease
I don't see why paper money will "burden" the state's budget. The cost to make paper money surely don't cost a lot because if so, then we're basically burning resources in order to make paper money which isn't good for the economy at all. Even with the debits and credit cards floating around, there's paper money equivalence of those balance. Or at least they should have. In terms of complications in transactions, paper money surely is the simplest one as opposed to cards. From robbery, cards aren't that safe too. Someone can simply take a picture of your card and they can use it to purchase things online. Sometimes you think you're safe, but you're not. The details needed to spend online the money in your card are all printed on the card. |
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Biggest issue right now is going to have to be the insanely high fluctuations in pricing that occurs pretty much everyday for BTC and the issues that are surrounding the transcation fees which are pretty much a plague on anyone that is attempting to adopt BTC at this point in their lives. Some people still want to get into Bitcoin but once they see that they're going to have to pay $2-3 for a TX on any amount of money they're probably going to run away, and run as far as possible.
I don't see the point of running away as far as possible. They can simply just switch to using another cryptocurrency like ETH. They pretty much have the same concept. You can both send and receive money and exchange it to digital fiat. Bitcoin has a "high" transaction fee in terms of fiat because we are at a high price today. Today, the transaction fee is $2 because we're almost at $3000. If we were back then in $600 per coin, the transaction fee would just be $0.4 which is really really cheap but they are the same amount in bitcoin form. Bottom line, it's just the high price of bitcoin that makes the transaction fee look really high. |
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For me bitcoin is the fastest transaction ive ever known unlike cash. You can pay your bills in bitcoin. And if the currency will rising up its very nice if you have btc because the money you keep is become bigger not like cash. You can keep your cash but as the days pass by the cash that you hold is loosing.
Lols..let's stop with the snorting around here Cash is instant payment. You give a bill receive a few coins back and you're off. I can pay with cash faster that I can unblock my phone sometimes  . Probably you're just post hunting but still, stop with the crap. Right now bitcoin is faster than bank transfers between different banks. That's all. And it not bitcoin's fault it's just that other payment methods have evolved too. And with the current status of bitcoin network today, soon there will be no different in terms of speed between bitcoin transactions (using the standard fees) and bank transfers between different banks. For references, bank to bank transfer here is instant and just one second click away via online banking. For transfers between different banks, the average is 6 hours with cheaper fees about an average of $0.05. My recent bitcoin transaction cost $3 and I wait for 4 hours. See the comparison here? Really making a sense. But bitcoin is much more than that. Even when most of the time, the transaction time is much higher than we expect for this technology, bitcoin has other things to offer which the banks will never have. First, bitcoin holders have a good chance to multiply their coins as time pass by. They don't have to do anything at all but wait. It's up to them if they are going to read the news or trade their coins to get more coins. Bitcoin also put us all in this place. We're one community. All of us have the goal of making money and I think that's going pretty well to most of us. The banks don't have a community. They only have users. Those users can only adjust to what the bank owners do. And no matter how long you put your money in the banks, it will never grow as much as your money would in bitcoins. |
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Yes the altcoins are very tempting, suddenly the price will increase, and suddenly the price will come down. So don't get panic in trading. If you are a panic person, then don't do trading. Bitcoin trading is a different matter because it is already stable in the market if today it falls, tomorrow it will come up. But altcoins are not like that we don't have trust in them. So I will also accept that trading is an unpredictable job.
That is false. The reason why people don't have trust in the altcoin market is because it's a zero sum game and you don't know which whales are really going to hold the coin for a long long time. On the other hand, it's the same thing about bitcoin. That's why you shouldn't be so confident about it too. Altcoins go back to its normal price too when they dump, but sometimes they steadily go down because the project has failed or simply the coin got dumped by some whale. It's also the case with bitcoins. The price can go down and a whale can sell all of his coins, leaving the price of bitcoin go really down without any clear sign that it will actually go back up anytime soon. tl:dr; We're putting an illusion that we're all in this together in bitcoins when in fact it's just the same thing with altcoins that someone can dump the market big time. |
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....make Bitcoin great (again)....
Such a subtle joke that made me laugh more than I should.  Well bitcoin could already hit that price this year but I don't see fiat going anywhere in the short term. In 20 years though who knows, but there would need to be some form of offline payment to replace it too.
There is no way that bitcoin will ever replace fiats or even make them worthless, even in 20 years, this is impossible, the price of bitcoin may rise more than $10000, but it will never replace fiat. And yeah, if fiat will be replaced by another coin, what will it be? There's nothing that can replace money physically. I guess if fiat is to replaced by something that has a physical form, it would be gold. Back then, people are already using gold and up to date, gold still has actual value. If people knows that fiat money is just paper, then they would start investing all of their fiat money to stocks, precious stones, minerals, etc. Basically things that actually have value and are a good store of value. Unfortunately, people aren't just going to be informed that fiat isn't backed by gold or anything anymore so you're right, fiat is irreplaceable. But, who knows? Bitcoin might have some spike in its adoption at some point. |
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Don't explain, give and let them find out by themselves. People were doing similar projects in the past.
You giveaway a certain amount of Bitcoins to strangers in the street. If they want to claim they have to install a wallet and add a private key by themselves. It will require them to do some research, but the effort will be rewarded.
Wow.. This "people" surely have a lot of time to waste. You don't just ask people around to install this and that and most of them probably have something better to do. Unless you live in a place where everyone's broke but have smartphones, then this is a bad idea. Approaching strangers and asking them to do something is always a bad idea. Since we're in the digital world, they would think that you're scamming them or taking something from them or you're putting virus on their phone simply because everyone questions those that give something to people out of the blue. I think it's probably only going to work in a first world country where a good percentage of people are open minded and actually have heard about bitcoin but simply don't use it. |
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With crypto in general hitting mainstream these days, I'm pretty positive adoption would spike up too. Everyone knows BTC, the problem is they know it as an investment and not as a means to buy or sell something.
That's where we're gonna have problems in terms of adoption.
Mainstream??? Adoption??? Everyone??? Where, exactly? Which dimension? Cryptocurrencies are so faaaaaar away from hitting mainstream. We're barely a million users but if you call that "mainstream", then go ahead. But AFAIK mainstream means a lot of people know it. And 1 million is much less than 1% of the 7 billion people in the world. The adoption can spike up or whatever but we're still going to be less than 1% in population. Bitcoin becoming mainstream is still decades ahead. "Everyone" knows about BTC? Go outside and ask someone if they know about bitcoins. If you live in a first world country, chances are they already heard about it somewhere but don't really know what it is. But if you live in a third world country, nope, it's very hard to find another guy that knows about cryptocurrencies. |
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Bitcoin make bank dissappear? In my opinion, bitcoin has now achieved its success at a very high price and is recognized almost worldwide. But in my opinion bitcoin will not be able to replace the bank because the bank is a financial institution as well as a very important to economic world
Surely bitcoin has quite a decent price right now. This is the highest price bitcoin has ever had. On the other hand, this is far from the bitcoin "success" that we actually want and need. Bitcoin's success will include major merchants and even small ones accepting bitcoin. It will also consist of a world where you can pay most people with bitcoins just like how often they accept fiat as payment. Comparing to the potential bitcoin actually has, the price of bitcoin and the recognition that it gets right now is very far from that. Although your whole point is correct. Bitcoin cannot replace the banks because it's a very important part of the economy. Apparently, even that can be replaced by bitcoins if the government would allow to do so. |
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Based on their facts, lesson learn and consolidated experiences between to currencies it will be possible that time will come bitcoin is the largest currency in the world of crypto and erase the position of dollar in its popularity among the currencies. On your link some of experts prediction is within 10 to 15 years bitcoin will rise and one of the annoying currencies in the world. I honestly wouldn't just believe these "experts" about such prediction. 10 to 15 years is such a long time, and I bet that they are just playing safe with their predictions. I can say that bitcoin will prevail 100 years from now and that surely will be true. And when there's some major problem along the way, I'd just post again in my blog site that I did not anticipate that and the whole thing was out of the blue. Dollar will not just be erased from the world. The popularity is nothing. Hell, Instagram models are far more popular than bitcoins. |
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Trading is fairly predictable. No business is 100% predictable even big companies like Google or App cannot precisely say what their annual profits would be. Lots of people have accurately predicted how much Bitcoin would last year and this year.
Well, I can say that the price of bitcoin will be $3017.30 this year and I can still be called "accurate" by you. At some point, surely bitcoin will be $3017.30 but that surely don't make my prediction accurate. For a prediction to actually be accurate, the guy should have specified the date and time and the exact price. That's what's accurate for me. It's pretty easy to say that the price of bitcoin will be this or that next year and be correct but that's just because "next year" is one long time frame. Any major pump can happen at those times and that's what makes the predictions you're saying actually come true. But in the case of being accurate or precise, uhmm.. No. |
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My advice might be to trade on altcoin, because as bitcoin exchange rate increases. Altcoin also goes up. It will make our bitcoin will increase.
You do realize that altcoin holders dump their coins once the price of bitcoin is increasing significantly, right? They all know that other holders will do the same thing so the first ones to sell the altcoin and the first ones to buy at the deepest of the dump will make the most profit. How can you not know that, honestly? Take a look at the altcoin market when bitcoin's pumping. If I were you I will choose to learn trading to make it grow . You cannot be sure you will get profit with it but one thing is for sure you will not ending up with nothing. not like gambling when you bet all there's a chance that you will lost all of your money. In trading there is a chance to recover your lost.
As a matter of fact, you can also end up with nothing in trading. When the project fails, and the whales have sold their coins, then you're done. The coin can even go to 1 satoshi each. Check out YoBit and you'll see a lot of these coins. |
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Paper money will continue to diminish its use in future. Because government itself through banks has brought innovation credit card or other cards. Making payments without paper money has occurred in many countries around the world, and thats a fact.
And all those digital credits should have a paper money equivalence otherwise then that means the government are just adding numbers to the digital world and poooof! The only way for us to find out the truth behind that is to withdraw all of our funds in the bank. I doubt that there's really that much paper money out there. the future course of the forest and the tree gets harder, we all know that the raw material is paper tree, currently many countries are reducing the pengguaan of the paper so I had foretold the future of paper money will disappear.
Actually, in the process of paper money, they don't use that much trees to create them. There's far more trees getting cut illegally and for commercial use compared to the amount of trees cut for making paper money. |
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It is not entirely correct to compare these two currencies. They can only complement each other, rather than compete among themselves.
Yeah should not compare between bitcoin and dollar. You should be grateful for the dollar because the first dollar is the base of the bitcoin rate. And although the bitcoin rate is very high though, it will not make the dollar lose yeah we can not compare bitcoin with dollar because bitcoin have do not any physical shape and dollar have a physical shape but i hope bitcoin will make the dollar lose sooner because bitcoin have a mass adoption every day and bitcoin is very much useful currency around the world for online transaction. Both of them are just a tool, there's no need to think that one thing is nothing compared to the other just because the other one has a physical form. Debit cards also have a physical form, but its value resides in the digital world, yet we still put value to it just like how we value paper money. Bitcoin can also have that. Bitcoin can have a paper wallet, which is in physical form, but the value would also reside in the digital world. You can also buy physical bitcoin coins which has a wallet in it. I definitely don't think that you really meant what "bitcoin have a mass adoption every day" actually meant. Because if so, then there should be billions using bitcoins as of now which is just false. |
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The last time i needed money to invest into mine companie i asked my mother, the bank were already offering me a big ammount to repay over 4 years, the thing is the interest would damage my pocket instead help me.
You can't expect the banks giving you loans for free, though. That's how they operate. They lend money to people that has a good business plan but of course there would be an interest. Take a moment to think about it. You are in need of money to start your business so you get a loan instead of working for a couple more years to have the amount of money to start up that business. It's kind of a headstart. After 4 years, the whole thing finally belongs solely to you. I had learned you cant help a friend with money, you might end loosing your friendship due to those, people confuse the things when you are a friend.
On the other hand, if you don't help them, then you're going to outright lose them. |
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Firstly, if you have little money then you start holding your money in the form of either Bitcoins or either ICO tokens. Both are beneficial for long term investment. They will grow as the time is passing further. ICO are bit risky but not all of them work like that. There are some, which will profit you in the long run, just make sure to invest in right one.
Secondly, if you have less money and want to invest big, then you can set up few popular mining rigs in your household itself. This is well know that you mine yourself no a days with your comfort. There are already lots of electricity problem solving (cost effective) has been depicted in the forum itself. You can collect all the info about set up and start mining for best profits ever.
to me i think currently it is more profitable if you will hold bitcoin for a long time. in fact it is very reliable to invest money in bitcoin. because bitcoin is one of the most trusted currency of the crypto currencies, having much more potential to increase its price. those people who have invested money in bitcoin a year before, now they are really too much happy with their investment. yes that is right that long term investment can be more profitable as compare to short term investment, actually there is a huge fluctuation in the price of bitcoin some time we see more that 300 $ pump while other time it decreases for the same about in short time there it will be the best option to invest money for long term and avoid such kind of tension. For an investor the long term investment will be good and safe and if he will do any tension then he may lose his emotion and take a wrong step. In the short term often traders do the trade they often buy at lower price and when the fluctuation is upward then they immediately sell and buy again when the fluctuation go down. For a normal person this type of trade is hard and risky. i in fact short term investment can only be effective if you have good experience in short term investment. if we compare short term and long term investment we can come to the conclusion that short term investment is more risky than long term investment. in short term investment you must nee to study the market on regular bases, you must be updated about the market and only then you can get profit from short term investment but if you do not have any experience in short term then long term investment is a best option for you. Short term trading sure is a risky one so you have to buy into the dip to reduce that risk while checking if the coin do not have any issue like dev running away so you know that it will go back to the previous price eventually. But think about it, time is very important in this world. Long term trading doesn't guarantee you anything. You can still lose from it. Imagine spending a lot of time waiting for the coin to reach your desired price when you could have earned a lot more if you spent more time studying short term trading instead. If you don't know how to short trade, then learn how to. Don't just think that long term trading is the way to go because that way you'll never have experience in short term trading. By the way, regardless if you're doing short term trading or long term, you still have to check the market regularly and the news about the coin/project as well. |
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