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RoseMann
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August 11, 2016, 05:35:41 PM |
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No way, no chance we need real currency in order for decentralized currency to work
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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fireball4
Sr. Member
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Activity: 288
Merit: 250
CryptoTalk.Org - Get Paid for every Post!
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August 11, 2016, 05:46:14 PM |
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No way, no chance we need real currency in order for decentralized currency to work
thats not true, if all people switch to bitcoins we wouldnt need any fiat that we have right now, that would be really great as then banks would disappear over time |
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Yakamoto
Legendary
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Activity: 1218
Merit: 1007
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August 11, 2016, 05:48:35 PM |
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No way, no chance we need real currency in order for decentralized currency to work
thats not true, if all people switch to bitcoins we wouldnt need any fiat that we have right now, that would be really great as then banks would disappear over time How would we have decent transaction times for day to day purchases, though? The confirmation time takes too long right now and fiat maintains a huge edge over Bitcoin in this regard. That problem has to be solved before we can start moving ahead. |
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terman45x
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August 11, 2016, 05:52:33 PM |
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No way, no chance we need real currency in order for decentralized currency to work
thats not true, if all people switch to bitcoins we wouldnt need any fiat that we have right now, that would be really great as then banks would disappear over time Banks will never disappear mate, bitcoin will need strong reason to replace them and I don't see that at a moment and same it goes with dollar too as dollar is too big in compare to bitcoins. |
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ekaterina77
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August 11, 2016, 05:56:55 PM |
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No way, no chance we need real currency in order for decentralized currency to work
thats not true, if all people switch to bitcoins we wouldnt need any fiat that we have right now, that would be really great as then banks would disappear over time Banks will never disappear mate, bitcoin will need strong reason to replace them and I don't see that at a moment and same it goes with dollar too as dollar is too big in compare to bitcoins. It is not necessary to level the dollar and bitcoin. To date, the dollar enjoyed throughout the world, and they can pay in any store. A bitcoin has a limited capacity, though more expensive. |
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RoseMann
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August 11, 2016, 05:59:45 PM |
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No way, no chance we need real currency in order for decentralized currency to work
thats not true, if all people switch to bitcoins we wouldnt need any fiat that we have right now, that would be really great as then banks would disappear over time How would we have decent transaction times for day to day purchases, though? The confirmation time takes too long right now and fiat maintains a huge edge over Bitcoin in this regard. That problem has to be solved before we can start moving ahead. Exactly, BTC cant handle being the regular currency, if it actually happened that a global event caused the entire world to switch to bitcoin, it would break bitcoin immediately because BTC already has a slow transaction speed that would become so slow (and expensive), it would no longer make any sense to use it and at best, another digital currency could replace it and become the global currency. That being said, that's a major stretch and requires a lot of unlikely events and as I see it there will always be national currencies, tho there influence may decline over time to not be as strong as some future digital currencies. |
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mishra1994u
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August 11, 2016, 06:11:06 PM |
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I don't really believe that bitcoin can reaplce dollar or other currency, don't need to replace something cause better to just become better.
There is no guarantee that bitcoin will be successful in the future, we should only think of replacing dollar when it is becoming more popular and that would be evidence by massive adoption. Yes there is no chance that bitcoin can ever replace dollar or any other fiat currency across the world.Ya there is no 100% guarantee that bitcoin will be really successfull in future,but still if it became popular then still it cannot replace dollar because both are completely different.Bitcoin is a digital currency and can never become fiat. |
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shane
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August 11, 2016, 06:13:19 PM |
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No way, no chance we need real currency in order for decentralized currency to work
thats not true, if all people switch to bitcoins we wouldnt need any fiat that we have right now, that would be really great as then banks would disappear over time Banks will never disappear mate, bitcoin will need strong reason to replace them and I don't see that at a moment and same it goes with dollar too as dollar is too big in compare to bitcoins. It is not necessary to level the dollar and bitcoin. To date, the dollar enjoyed throughout the world, and they can pay in any store. A bitcoin has a limited capacity, though more expensive. This is only a matter of time, digital payment in the future may be very desirable, so people do not have to carry cash everywhere and bitcoin will be used as payment in the future. |
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Antoshka
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August 11, 2016, 06:22:45 PM |
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No way, no chance we need real currency in order for decentralized currency to work
thats not true, if all people switch to bitcoins we wouldnt need any fiat that we have right now, that would be really great as then banks would disappear over time Banks will never disappear mate, bitcoin will need strong reason to replace them and I don't see that at a moment and same it goes with dollar too as dollar is too big in compare to bitcoins. It is not necessary to level the dollar and bitcoin. To date, the dollar enjoyed throughout the world, and they can pay in any store. A bitcoin has a limited capacity, though more expensive. This is only a matter of time, digital payment in the future may be very desirable, so people do not have to carry cash everywhere and bitcoin will be used as payment in the future. So now use credit cards and can not carry money and buy for cashless payments. Or to transfer money through the Internet. Of course bitcoin is still very young, but look at how much it will be enough. |
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@prashant
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August 11, 2016, 07:12:23 PM |
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Of course, the dollar has a lot of disadvantages. However, many financial experts believe that the dollar will soon cease to be the world currency, Bitcoin, and unlikely to be able to replace it.
First of all, because the Bitcoin currency is unstable. Its price can fluctuate within a wide range.
In addition, people can not refuse from the traditional banking system so quickly.
And that is why it cannot be a money for all. It fluctuates too much until the day all bitcoin will be mined. Do you think US citizens would like a currency that fluctuates too much? Sometimes you are poor and sometimes you are not?  Maybe all of us like it but do not approve it.if somebody brought it for low then selling it for high will definitely give profit and due to its unstable nature ,it has become popular. |
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@prashant
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August 11, 2016, 07:14:14 PM |
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No way, no chance we need real currency in order for decentralized currency to work
thats not true, if all people switch to bitcoins we wouldnt need any fiat that we have right now, that would be really great as then banks would disappear over time Banks will never disappear mate, bitcoin will need strong reason to replace them and I don't see that at a moment and same it goes with dollar too as dollar is too big in compare to bitcoins. It is not necessary to level the dollar and bitcoin. To date, the dollar enjoyed throughout the world, and they can pay in any store. A bitcoin has a limited capacity, though more expensive. This is only a matter of time, digital payment in the future may be very desirable, so people do not have to carry cash everywhere and bitcoin will be used as payment in the future. Yes ,digital payment will dominate but it is not sure whether bitcoin will be taken as a major payment option or not. |
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Frodomaga
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August 11, 2016, 07:16:03 PM |
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There is no way to believe bitcoin could replace dollar soon. But is possible to be used in large amount by ordinary people
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Rastaman2016
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August 11, 2016, 07:59:44 PM |
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Of course, the dollar has a lot of disadvantages. However, many financial experts believe that the dollar will soon cease to be the world currency, Bitcoin, and unlikely to be able to replace it.
First of all, because the Bitcoin currency is unstable. Its price can fluctuate within a wide range.
In addition, people can not refuse from the traditional banking system so quickly.
And that is why it cannot be a money for all. It fluctuates too much until the day all bitcoin will be mined. Do you think US citizens would like a currency that fluctuates too much? Sometimes you are poor and sometimes you are not? Maybe all of us like it but do not approve it.if somebody brought it for low then selling it for high will definitely give profit and due to its unstable nature ,it has become popular. Here you have answered many of the questions that are asked on the forum. And their main purpose is the popularity of bitcoin. But the stability of the exchange rate cryptocurrency does not, and how would react to such money, people, it is unique. |
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angryswamp
Sr. Member
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Activity: 268
Merit: 250
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August 11, 2016, 09:29:36 PM |
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There is no way to believe bitcoin could replace dollar soon. But is possible to be used in large amount by ordinary people
it is actually possible we might need to wait only for a decade till something huge will start happening, i hope that dollar will become extinct pretty soon |
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Doamader
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August 11, 2016, 10:26:53 PM |
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Something all should already know its dollars, fiat its printed money soo they can print unlimited money, bitcoin for other side has a supply limited, and should get less and less coins avaible over the time, being loosing wallets keys or any other way. With this said there is no way to bitcoin replace any currencie, and dollar currently is the currencie present at all transactions over the world.
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deisik
Legendary
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Merit: 1280
English ⬄ Russian Translation Services
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August 11, 2016, 10:34:52 PM |
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Something all should already know its dollars, fiat its printed money soo they can print unlimited money, bitcoin for other side has a supply limited, and should get less and less coins avaible over the time, being loosing wallets keys or any other way. With this said there is no way to bitcoin replace any currencie, and dollar currently is the currencie present at all transactions over the world.
Bitcoin infinite divisibility is believed to solve this problem, though I think that it would only increase price volatility |
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BitMaxz
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Activity: 3248
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Block halving is coming.
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August 11, 2016, 10:49:48 PM |
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There is no way to believe bitcoin could replace dollar soon. But is possible to be used in large amount by ordinary people
it is actually possible we might need to wait only for a decade till something huge will start happening, i hope that dollar will become extinct pretty soon Don't expect for that it will never never happen.. because bitcoin is always be alternative online money just like paypal.. Dollar is always remain to use by people.. Also bitcoin has no stable price so its impossible that bitcoin will replace usd.. |
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ttargett
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August 11, 2016, 10:56:04 PM |
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it actually will in like 20 years or so when a lot of people will be using bitcoins on daily basis
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Hatuferu
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Activity: 1092
Merit: 1000
https://trueflip.io/
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August 12, 2016, 02:01:13 AM |
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There is no way to believe bitcoin could replace dollar soon. But is possible to be used in large amount by ordinary people
it is actually possible we might need to wait only for a decade till something huge will start happening, i hope that dollar will become extinct pretty soon Don't expect for that it will never never happen.. because bitcoin is always be alternative online money just like paypal.. Dollar is always remain to use by people.. Also bitcoin has no stable price so its impossible that bitcoin will replace usd.. I won't debate with you on that because I have already accepted that bitcoin is just an alternative currency for fiat. Anyway, though this is just an alternative currency, it is still good to use it because of the great benefits in online transactions and can be use as an investment at the same time. |
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Yakamoto
Legendary
Offline
Activity: 1218
Merit: 1007
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August 12, 2016, 02:35:03 AM |
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Something all should already know its dollars, fiat its printed money soo they can print unlimited money, bitcoin for other side has a supply limited, and should get less and less coins avaible over the time, being loosing wallets keys or any other way. With this said there is no way to bitcoin replace any currencie, and dollar currently is the currencie present at all transactions over the world.
Bitcoin infinite divisibility is believed to solve this problem, though I think that it would only increase price volatility It increases volatility when you start to hit massive amounts where the smaller numbers actually matter, just like how Satoshi means nothing in the value right now. Once/If Bitcoin hits $1m Satoshis would matter, but for right now they mean nothing. |
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