Gyfts
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Activity: 2758
Merit: 1512
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April 23, 2015, 09:54:38 PM |
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In my opinion Bitcoin will not compete with fiat currency. There should be a voice of a typical, low income to mid income citizen because they are the type of people that would make the switch from fiat to Bitcoin. Rich people would never trade their wealth for BTC so there input wouldn't be as highly valued, under the circumstance fiat still has value of course. But going to my main point, there is no reason for them to adopt Bitcoin unless fiat currency goes corrupt so I feel the mainstream public won't take the initiative to hop on an unstable currency. Hypothetically speaking, if the economy were to completely crash and fiat currency is completely worthless, people would take on precious metals as value faster they would Bitcoin.
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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
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BitmoreCoin
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April 24, 2015, 08:38:32 AM |
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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.
In this scenario, the value of bitcoin will increase against USD. |
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Erza
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April 25, 2015, 04:30:14 AM |
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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.
In this scenario, the value of bitcoin will increase against USD. The value of bitcoin wont increase against US dollar because nowadays many people still get their viat money to buy things and that will weaken bitcoin value and make dollar raise in a couple of months but still that thing is being in polemic |
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Lauda
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Terminated.
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April 25, 2015, 04:36:16 AM |
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I'm not sure that this is a likely or possible scenario. I'm thinking that Bitcoin shall grow next to other currencies. Bitcoin will however crush companies like WU.
It will be quite hard to replace something as simple as cash with something a bit more complicated as Bitcoin.
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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aso118
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★Nitrogensports.eu★
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April 26, 2015, 12:38:58 AM |
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I'm not sure that this is a likely or possible scenario. I'm thinking that Bitcoin shall grow next to other currencies. Bitcoin will however crush companies like WU.
It will be quite hard to replace something as simple as cash with something a bit more complicated as Bitcoin.
Companies are smart. If Western Union realizes that its days of charging 10% for remittances is over, it still might survive. If it resists and tries to hang on, it will become obsolete. |
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qiwoman2
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Oikos.cash | Decentralized Finance on Tron
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April 26, 2015, 05:33:40 AM |
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I think we are a long way for any digital currency to replace fiat money. Unless the mass populations around the world wake up and choose to live in alternative and more sustainable economic structures, the takeover can't happen. People's awareness must be changed and if we are heading towards a resource-based economic world, then yes it has a slight chance to be a bridge and a transition to a more elevated and civilized mode of life. Now everything is still too Gung Ho so we don't know how the tides will turn, but there is always hope  . |
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Amph
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Activity: 3206
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April 26, 2015, 08:31:21 AM |
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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.
In this scenario, the value of bitcoin will increase against USD. The value of bitcoin wont increase against US dollar because nowadays many people still get their viat money to buy things and that will weaken bitcoin value and make dollar raise in a couple of months but still that thing is being in polemic does not need to rise in price to trample fiat, bitcoin is already terrorizing, fiat, with its technology, this is the reason for which the banks are "buying" that tech, because they see it as a threat, and want to protect themselves in the future by creating a similar system, in case bitcoin becomes big enough |
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bornil267645
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April 26, 2015, 08:51:13 AM |
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It doesn't have to, I mean the reason we love Bitcoin so much is that it fills some of the lacking of US dollar and if the US dollar is not there then I don't think Bitcoin alone will have the capability. So it should be better if they both co-exist.
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BTCevo
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Merit: 1008
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April 26, 2015, 04:17:51 PM |
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It doesn't have to, I mean the reason we love Bitcoin so much is that it fills some of the lacking of US dollar and if the US dollar is not there then I don't think Bitcoin alone will have the capability. So it should be better if they both co-exist.
Nope, if dollar is missing from this world bitcoin still can rise because so many country that want to use ir or may be invested in it so it doesnt have to be both. Dollar is the reason why bitcoin can't become the main currency |
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operrajunk74
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April 29, 2015, 11:28:02 PM |
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I think that is possible in future that Bitcoin will be more valuable then US dollar and no wonder if its accepted as a traditional currency. The existence of Bitcoin is only 6 years but I think it gonna be revolutionary in future and would become a traditional currency across the globe.
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Erza
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Activity: 1078
Merit: 1000
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April 30, 2015, 12:18:06 AM |
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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.
In this scenario, the value of bitcoin will increase against USD. The value of bitcoin wont increase against US dollar because nowadays many people still get their viat money to buy things and that will weaken bitcoin value and make dollar raise in a couple of months but still that thing is being in polemic does not need to rise in price to trample fiat, bitcoin is already terrorizing, fiat, with its technology, this is the reason for which the banks are "buying" that tech, because they see it as a threat, and want to protect themselves in the future by creating a similar system, in case bitcoin becomes big enough And why does the bank need to used that their technology for the bank safety if they see it as a threat? If they used it somebody can try to hack into their system and fiat will be gone forever and that things become more threatening and gov will make sure to close bitcoin immidiately |
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