Is Bitcoin capable of stepping into the US dollar shoes one day?

[bitcoincasino.info]

Despite BTC being claimed the world’s most unstable asset in terms of investments in 2014, many still think it has all opportunities to outdo traditional currencies.

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[SpanishSoldier]

The kicking picture is incorrect. They will co-exist.

[NeuroticFish]

Did the fighter jet replace the tanks? No.

Governments will not let go their paper money. Especially the most powerful government.
Bicoin has the chance to be something bigger than any paper money: international currency, not tied to any government.
But for that the bitcoin market needs to be much more stable (or at least rising) and .. some sort of regulation / insurance against scams is still needed.

[ensurance982]

They're two completely different assets in many ways. Has the Dollar replaced Gold as an investment? No! Many different forms of assets, money, investments, stocks, etc. exist at the same time, profit from one another, challenge one another, or just don't interfere with the other at all.

[pereira4]

The kicking picture is incorrect. They will co-exist.

I tend to agree on this too. It will be like some sort of ying yang relationship, blockchain with a deflationary currency-fiat with their QE madness

[BitUsher]

It is very unlikely Bitcoin will become the world reserve currency in the next 20 years , but it certainly has the ability to scale with implementations like the lightning network.

I could see it becoming a popular option for micro payments, international payments and internet purchases in the next 20 years.

[Amph]

They're two completely different assets in many ways. Has the Dollar replaced Gold as an investment? No! Many different forms of assets, money, investments, stocks, etc. exist at the same time, profit from one another, challenge one another, or just don't interfere with the other at all.

+1

Bitcoin won't replace dollar as it would require bitcoin not only to become accepted by all the countries that are now accepting dollar but also to surpass it, become more important to make people convert their whole USD holdings into BTC. I don't think we'll ever see it happen.

there is only one way that bitcoin could replace it, if the dollar collapse one day, otherwise there is always the possibility that bitcoin is just accepted more without necessarily take out the dollar, like duo dollar/euro right now

[johnyj]

Saving will be done in bitcoin and spending in fiat currency, you only get fiat currency when you try to spend

[Snorek]

They're two completely different assets in many ways. Has the Dollar replaced Gold as an investment? No! Many different forms of assets, money, investments, stocks, etc. exist at the same time, profit from one another, challenge one another, or just don't interfere with the other at all.

+1

Bitcoin won't replace dollar as it would require bitcoin not only to become accepted by all the countries that are now accepting dollar but also to surpass it, become more important to make people convert their whole USD holdings into BTC. I don't think we'll ever see it happen.

there is only one way that bitcoin could replace it, if the dollar collapse one day, otherwise there is always the possibility that bitcoin is just accepted more without necessarily take out the dollar, like duo dollar/euro right now

It is not about collapsin, we are talking about how Bitcoin can be better  equivalent of potentially global paying system. And for not it can't happen as bitcon won't be able to replace FIATs in normal everyday life due to its problem with long confirmation times. I would like to buy my groceries and not wait 10-30 minutes for a confirmation.

[BIT-Sharon]

It will outdo, it is an upgrade for traditional currency.

[bitbunnny]

To do that it should be more stable. Don't know if that's possibe, at least not right now

[sana54210]

I think within a decade it is possible that Bitcoin can outdo US dollar, it all depends on the mainstream adoption of the bitcoins, and when more people start to use bitcoins and more establishments start to accept bitcoins as a payment, bitcoin can overshadow US dollars, already bitcoin is above few currencies.

[Erza]

They're two completely different assets in many ways. Has the Dollar replaced Gold as an investment? No! Many different forms of assets, money, investments, stocks, etc. exist at the same time, profit from one another, challenge one another, or just don't interfere with the other at all.

+1

Bitcoin won't replace dollar as it would require bitcoin not only to become accepted by all the countries that are now accepting dollar but also to surpass it, become more important to make people convert their whole USD holdings into BTC. I don't think we'll ever see it happen.

there is only one way that bitcoin could replace it, if the dollar collapse one day, otherwise there is always the possibility that bitcoin is just accepted more without necessarily take out the dollar, like duo dollar/euro right now

Yeah that will be possible, but dont you think dollar is so strong for now? And it even rise higher since this past year and let say 'if' one day dollar is collapse that means all market will be drop too so the bitcoin dont have the chance they will lose the circulation on their market too

[Twipple]

I think within a decade it is possible that Bitcoin can outdo US dollar, it all depends on the mainstream adoption of the bitcoins, and when more people start to use bitcoins and more establishments start to accept bitcoins as a payment, bitcoin can overshadow US dollars, already bitcoin is above few currencies.

I doubt it will ever happen, like someone said it will only coexist. For bitcoin to exist, there is a strict necessity of having the internet , and thats a main thing it relies on. Also there is no way to replace all the existing dollar system for the bitcoin

[randy8777]

don't think bitcoin itself will. but that doesn't say there won't be another digital currency taking over the us dollar. but then again, it will just re-create the same situation as with the us dollar.

[mcplums]

I think USD going to shit and being replaced by bitcoin is very plausible:

1) [insert country] decides to replace its USD reserves with bitcoin to reduce US hegemony (Russia & China have talked about getting rid of USD reserves for years)
2) $bns dumped onto the market, causing increased inflation and devaluation
3) $ now becomes a less attractive store of wealth. As a result, another country jumps ship and sells its $
4) Vicious circle starts of countries/individuals dropping their USD in exchange for bitcoin (or any other currency)
5) USD quickly becomes worthless

There is no historical precedent for this as in the past there has never been a single currency held in such large quantities by so many foreign governments.

Obviously if this ever happens it won't be for many years. But one day? Who knows.

[Amph]

They're two completely different assets in many ways. Has the Dollar replaced Gold as an investment? No! Many different forms of assets, money, investments, stocks, etc. exist at the same time, profit from one another, challenge one another, or just don't interfere with the other at all.

+1

Bitcoin won't replace dollar as it would require bitcoin not only to become accepted by all the countries that are now accepting dollar but also to surpass it, become more important to make people convert their whole USD holdings into BTC. I don't think we'll ever see it happen.

there is only one way that bitcoin could replace it, if the dollar collapse one day, otherwise there is always the possibility that bitcoin is just accepted more without necessarily take out the dollar, like duo dollar/euro right now

Yeah that will be possible, but dont you think dollar is so strong for now? And it even rise higher since this past year and let say 'if' one day dollar is collapse that means all market will be drop too so the bitcoin dont have the chance they will lose the circulation on their market too

the dollar is getting some stamina, because of the recent fall of the euro, so userr that play on market stock are all there at the moment, bitcoin should drop only momentarily, until everyone realize that there will be no alternative

[l.Maximiliaan]

Saving will be done in bitcoin and spending in fiat currency, you only get fiat currency when you try to spend

i for one think you are million miles away from the reality. we trying so hard to implement "bitcoin spending", and you say that bitcoin would be for saving.
i would not convert my spendings to bitcoin because of the high volatility

[BitmoreCoin]

Bitcoin will coexist with other fiats in the foreseeable future.

[tyz]

As long as the world economic growing is built on debt there will always be inflationary fiat money like the USDollar. But Bitcoin and cryptocoins in common can coexists and offer a stable and secure alternative for people.