Will Bitcoin Kick Every Other Paper Money Out of Business?

[shezu007]

I want us to discuss on this topic. Do you see bitcoin kicking other paper money out in the nearest feature?

I will love to hear your views guys.

As in my opinion yes it will kick paper money because everyone now a days looking for bitcoin instead local currencies so i would like to say it will kick the paper money.

[Juggy777]

Absolutely not. Tho it's quite possible but this is not the right time. USD still is the number one currency in the world. Yet bitcoin would be used in many things in the future and I assure you that.

Yes I agree, Bitcoin is valued against them and not vize versa, people often take it as a commodity rather than a currency, I yet don't get it, why does Bitcoin have to replace existing Fiat, they are happily Co existing with each other no need to for any of them to supplant with each other. Bitcoin is limited, paper currencies are not, so no in my opinion Bitcoin will never replace them, but will supplant them, and that's the way it should be.

[skhurram007]

I would say even if it could be a possibility; it wouldn't be good for BTC in the long run. You need competitors to grow.

Let's focus on the very basic difference between fiat and BTC. BTC transfer is FAST and cheap as compared to fiat; due to Blockchain. Just think, if fiat card companies like Visa, Master Card, Amex, etc switches to Blockchain; then their rates and speed would be extremely competitive to BTC transfers as well.

And I am expecting this to happen. BTC; I am not sure. But Blockchain is going to be a household technology. Avoiding it is not easy. Blockchain right now is bullying; My way or Highway... 

[endlasuresh]

Still this bitcoin is too new in the market and most of the people doesn't even know about the coin system. It takes more than 2 years for spreading the news everywhere in the world.

[christofle1612]

I don't think that can happen because Bitcoin depends on the value of paper money in the real world.

[wurth]

I want us to discuss on this topic. Do you see bitcoin kicking other paper money out in the nearest feature?

I will love to hear your views guys.

As in my opinion yes it will kick paper money because everyone now a days looking for bitcoin instead local currencies so i would like to say it will kick the paper money.

Kick paper money does not means Bitcoin will replace paper money in future, maybe Bitcoin will become a payment method important and useful for us. To be honest with the function of Bitcoin now, I do not think it can replace paper money or visa card, it needs a lot of time to confirm transaction while we can do that faster than with other payment method like my said.

[pugman]

I want us to discuss on this topic. Do you see bitcoin kicking other paper money out in the nearest feature?

I will love to hear your views guys.

In the nearest future no,and here is why. Banks are afraid of bitcoin and they are finding ways for people not to go for bitcoin as people will stop depositing money in banks as the interest rates are low and bitcoin on the other hand has its price increased more than 300% this year,so people will think its an easy profit for any one ,so what one of the banks did was spread this utter nonsense saying that "Bitcoin is a fraud and will blow up",people got scared and they started selling and the price went down probably because of this,if this continues to go on ,then it will be very difficult for bitcoin to overthrow fiat not only in the near future but forever.

[Madstayler]

I`ve found one project - PlusCoin. It seems pretty interesting. It`s not trying to "Kick Every Paper Money Out of Busines", but it tries to become an alternative. You can find some info in the official tread https://bitcointalk.org/index.php?topic=2067375.0.