Do You Think Bitcoin Will Replace Dollar Soon?

[stomachgrowls]

I don't think "soon" but I do think after 15 years or so it is a definite possibility. "soon" i guess is a relative term.

This morning, the average global price of bitcoin crossed the $685; whereas last night the unit price of the digital currency was $664.The sharp rise in the price of bitcoin has followed a jump in demand for digital currency trading platforms OKCoin and Huobi, which focused on Chinese users. On 23 October, the daily volume of transactions on the OKCoin exceeded 2 million bitcoins. what's next?

^^^Yes....I've been scratching my head over this for the past week.  Something is in the works.^^^

There is no doubt in my my mind that some sort of blockchain based digitial currency will be the predominately used means of exchange within the next 15 years and probably sooner.  Digital exchange is already more predominate than cash so the transition will probably be surprisingly fluid and unnoticed by the general public.

I'll look to that, i know it will happen sooner as we have a having a good volume of assets in the crypt. Traders are not only interested in bitcoin but also, they are interested in trading altcoins..

For sure in the future the crypto currencies will be more popular and successful.

 I'm looking forward on this, that someday we people will be using these different kind of crypto-currencies for the future with the updated version of course.

But for now "bitcoins, altcoins, cryptocurrency" they were just a money on the internet. Anyway there's a lot of people using a different kind of currency in every country. Dollar is not the only currency that people are using.

[deisik]

No never replace dollar by bitcoin because we all know that dollar is world currency so no one crypto currency replace dollar.

what if bitcoin be an option from the dollar to the currency of the world? I think that would be impossible to shift or replace dollars from the main venue. because I think the dollar has become a symbol for international currencies, and the dollar is also used by many countries for international transactions

Dollar is/was strong only because of oil. The era of oil is already slowly ends. It is just matter of time when electronic payment will take advantage on physical money. In Scandinavians countries already 50% of transactions that are digital transactions.. Time of dollar is running..

I really don't get your point. What you say comes down to claiming that when oil price was at around $140 per barrel, the US dollar was stronger than when oil is at $50 per barrel, right? If the USDX is any metric of the strength of the American dollar, it has grown a few dozen percentages since oil began to spiral down in 2014...

Cheap oil is beneficial for the US economy, so in no case it can damage the US currency

Its because the dollar is used in all oil transactions, its a fact that you cant buy oil from any country unless you pay with American Money. I think this is what he meant that oil will lower the value when it becomes obsolete .

It is no longer the case. Russia has been selling oil to China for the Chinese Yuan directly, and it's one of the two top suppliers of crude oil to China (the other being the Saudi Arabia). As far as I know, Iran is selling their oil for Euro as well as Russia to its European consumers (though I can be wrong here). On the other hand, the US is producing half of their crude oil consumption domestically today. Further, if cheap oil did really affect the purchasing power of the US dollar, why do we see USDX, which shows the value of the dollar against other major currencies, around 100 now when it was well below 80 a couple of years ago? This simply doesn't add up to the story of cheap oil. In fact, cheap or expensive oil has little to no impact on the dollar...

Since there are a lot of more significant factors at play which easily offset this influence even if there were such

[dirokkl]

I believe that Bitcoin has taken its place and displace the dollar it will not. There are people who will always be only a dollar, but there are people who have all their savings transferred to Bitcoin. These two systems will operate in parallel

[BitMaxz]

I don't think "soon" but I do think after 15 years or so it is a definite possibility. "soon" i guess is a relative term.

This morning, the average global price of bitcoin crossed the $685; whereas last night the unit price of the digital currency was $664.The sharp rise in the price of bitcoin has followed a jump in demand for digital currency trading platforms OKCoin and Huobi, which focused on Chinese users. On 23 October, the daily volume of transactions on the OKCoin exceeded 2 million bitcoins. what's next?

^^^Yes....I've been scratching my head over this for the past week.  Something is in the works.^^^

There is no doubt in my my mind that some sort of blockchain based digitial currency will be the predominately used means of exchange within the next 15 years and probably sooner.  Digital exchange is already more predominate than cash so the transition will probably be surprisingly fluid and unnoticed by the general public.

I'll look to that, i know it will happen sooner as we have a having a good volume of assets in the crypt. Traders are not only interested in bitcoin but also, they are interested in trading altcoins..

For sure in the future the crypto currencies will be more popular and successful.

 I'm looking forward on this, that someday we people will be using these different kind of crypto-currencies for the future with the updated version of course.

But for now "bitcoins, altcoins, cryptocurrency" they were just a money on the internet. Anyway there's a lot of people using a different kind of currency in every country. Dollar is not the only currency that people are using.

Those are crypto currency we can consider those as alternative money  online but they are still just a thing on the internet that has value..
A real money is those we can call usd or any local currency name..  bitcoin is just like gold that has value that we can exchange anytime in fiat..
So those local currency or usd dollars are impossible to replace by any crypto currency because its just a thing that has value in the internet. .

[Xenophoto]

I believe that Bitcoin has taken its place and displace the dollar it will not. There are people who will always be only a dollar, but there are people who have all their savings transferred to Bitcoin. These two systems will operate in parallel

Most teenagers and middle aged people are open minded so it's very possible that bitcoin replaces the dollar. The only ones that are using fiat when bitcoin becomes a trend are people that are either too young or too old to understand it.

Elderly will of course will not be able to use bitcoin since they don't know how to use computer or they can't understand it anymore. They will always use fiat but it will come to the time when they will die. Kids too will cannot understand bitcoins but they will be capable of doing that once they grow up.

[n691309]

I believe that Bitcoin has taken its place and displace the dollar it will not. There are people who will always be only a dollar, but there are people who have all their savings transferred to Bitcoin. These two systems will operate in parallel

I use both of them and I am satisfied with both of them becauee i cant go 100% fiat or 100% bitcoin because it is not secure enough, I like the word you mentioned in parallel this also applies to other coins and bitcoin.

[whizter]

Nope not really bitcoin is just a money from internet and if ever that bitcoin will be replacing dollar soon then means dollar will be depending on bitcoin and not bitcoin will depend on dollar. And i think bitcoin will be the main money for the world because dollar is famous and if that happens i think it's really imposible.

not really impossible but unlikely in the next couple of years or decades. as you've said not only bitcoin but most currencies are also dependent on the dollar. bitcoin would most likely play a part similar to that of a credit card right now. it's going to be widely used but the dollar would still be in control

yes it will really take some decades when people will give preference to bitcoin on dollar or any other currency, as the next generation is really taking interest to use crypto currency for buying and selling online as was as well in local shops, so the trend of using currency is changing now and the value of bitcoin is thus increasing.

[Financial_Genius]

Claims like this are fun to talk about but little more than good marketing for Coinbase. (Don't get me wrong, I like Coinbase). But no one can say for sure whether bitcoin will have staying power and significance to be considered the world's reserve currency ever let alone 15 years.

What I think is a better discussion to have about this is why would we want Bitcoin to be the world's reserve currency. Existing fiat currencies are controlled and manipulated by Governments and Banks. Do you think these people are going to just let Bitcoin exist without their involvement or blessing? Do you think these people aren't going to want to have control and option to manipulate Bitcoin as they have fiat?

I think the answer is No!

If Bitcoin becomes the world's reserve currency, Bitcoin will be destroyed as we know it. I can't see a way that it wouldn't, but if you all think differently I'd love to hear it!

Many changes that improve privacy, are under development. For example, efforts to change payment API aims to prevent the sharing of addresses for payment that creates the Association between them. The change addresses, in Bitcoin Core, could be eventually implemented in other wallets. In the graphical user interface can be added to easily request payments, which prevents re-use of addresses. Work is in progress and for the development of other functions, potentially increasing privacy, such as the ability to combine transactions together casual users.

[freedomgo]

I believe that Bitcoin has taken its place and displace the dollar it will not. There are people who will always be only a dollar, but there are people who have all their savings transferred to Bitcoin. These two systems will operate in parallel

I use both of them and I am satisfied with both of them becauee i cant go 100% fiat or 100% bitcoin because it is not secure enough, I like the word you mentioned in parallel this also applies to other coins and bitcoin.

Dollar won't be replaced by some sort of crypto currency that has been yet accepted by most of the people. And I am sure that the people will still rely to use dollar, because they are going to think that bitcoin is still a very young type of currency and besides there only limited people who are using it, so as of now this is impossible.

The possibility is very dim for us in the crypto and even me who has been here for so long and have already benefits on the success of bitcoin are not so convince with the possibility of replacing dollar, we are just saying that our government is weak and government does not allow complete freedom since it can be use against them.

[genos]

I believe that Bitcoin has taken its place and displace the dollar it will not. There are people who will always be only a dollar, but there are people who have all their savings transferred to Bitcoin. These two systems will operate in parallel

I use both of them and I am satisfied with both of them becauee i cant go 100% fiat or 100% bitcoin because it is not secure enough, I like the word you mentioned in parallel this also applies to other coins and bitcoin.

Dollar won't be replaced by some sort of crypto currency that has been yet accepted by most of the people. And I am sure that the people will still rely to use dollar, because they are going to think that bitcoin is still a very young type of currency and besides there only limited people who are using it, so as of now this is impossible.

The possibility is very dim for us in the crypto and even me who has been here for so long and have already benefits on the success of bitcoin are not so convince with the possibility of replacing dollar, we are just saying that our government is weak and government does not allow complete freedom since it can be use against them.

Both of them have different advantages. So people will not replace a currency with another currency. If they do that it is mean they will lose one of the advantage. So I think it will wise if we use dollar or bitcoin in good proportion.

[serjent05]

I believe that Bitcoin has taken its place and displace the dollar it will not. There are people who will always be only a dollar, but there are people who have all their savings transferred to Bitcoin. These two systems will operate in parallel

I use both of them and I am satisfied with both of them becauee i cant go 100% fiat or 100% bitcoin because it is not secure enough, I like the word you mentioned in parallel this also applies to other coins and bitcoin.

Dollar won't be replaced by some sort of crypto currency that has been yet accepted by most of the people. And I am sure that the people will still rely to use dollar, because they are going to think that bitcoin is still a very young type of currency and besides there only limited people who are using it, so as of now this is impossible.

The possibility is very dim for us in the crypto and even me who has been here for so long and have already benefits on the success of bitcoin are not so convince with the possibility of replacing dollar, we are just saying that our government is weak and government does not allow complete freedom since it can be use against them.

Both of them have different advantages. So people will not replace a currency with another currency. If they do that it is mean they will lose one of the advantage. So I think it will wise if we use dollar or bitcoin in good proportion.

I agree that both have different advantage.  But in my opinion, Bitcoin will never replace the currency of each country.  The highest possible position of bitcoin to financial system is being alternative currency.  It will be the 2nd option because of the government not allowing it to change their own currency.

[DD-Lex]

I believe that Bitcoin has taken its place and displace the dollar it will not. There are people who will always be only a dollar, but there are people who have all their savings transferred to Bitcoin. These two systems will operate in parallel

I use both of them and I am satisfied with both of them becauee i cant go 100% fiat or 100% bitcoin because it is not secure enough, I like the word you mentioned in parallel this also applies to other coins and bitcoin.

Dollar won't be replaced by some sort of crypto currency that has been yet accepted by most of the people. And I am sure that the people will still rely to use dollar, because they are going to think that bitcoin is still a very young type of currency and besides there only limited people who are using it, so as of now this is impossible.

The possibility is very dim for us in the crypto and even me who has been here for so long and have already benefits on the success of bitcoin are not so convince with the possibility of replacing dollar, we are just saying that our government is weak and government does not allow complete freedom since it can be use against them.

Both of them have different advantages. So people will not replace a currency with another currency. If they do that it is mean they will lose one of the advantage. So I think it will wise if we use dollar or bitcoin in good proportion.

I agree that both have different advantage.  But in my opinion, Bitcoin will never replace the currency of each country.  The highest possible position of bitcoin to financial system is being alternative currency.  It will be the 2nd option because of the government not allowing it to change their own currency.

Absolutely agree. This government is the main reason that cryptocurrency will always be an alternative. It is beneficial for people and the government does not.

[Rostadom]

I think bitcoin will replace dollar but it will not be "soon". The population of bitcoin users isn't enough to make the others migrate from using dollars into using bitcoins. I think it's just a matter of time when people start having an open mind about the digital currency. Bitcoin will be very much popular if people would start having online transactions from another country.

The use of bitcoin would become a necessity to the majority of people once they start having transactions globally and not just in their area. But let's face it, not everyone is global minded. Some would just stay as they are for years and won't even bother researching about bitcoins.

[goldcoinminer]

I think bitcoin will replace dollar but it will not be "soon". The population of bitcoin users isn't enough to make the others migrate from using dollars into using bitcoins. I think it's just a matter of time when people start having an open mind about the digital currency. Bitcoin will be very much popular if people would start having online transactions from another country.

The use of bitcoin would become a necessity to the majority of people once they start having transactions globally and not just in their area. But let's face it, not everyone is global minded. Some would just stay as they are for years and won't even bother researching about bitcoins.

Well, I have to respect your decision but I do believe that it will impossible to replace dollar by our very own bitcoin. I believe it will be a successful digital currency but it is only up to that as bitcoin cannot take care almost majority of the population in the world who relies solely on fiat money.

[sunsilk]

I really doubt that bitcoin will replace dollar soon. Because dollar has been stabilized and control by the government and bitcoin isn't.

So government will not allow this to happen because they are not going to benefit from it if this is going to happen so I'm pretty sure it won't.

But bitcoin is a good substitute for the usage of dollar.

[whizter]

I think bitcoin will replace dollar but it will not be "soon". The population of bitcoin users isn't enough to make the others migrate from using dollars into using bitcoins. I think it's just a matter of time when people start having an open mind about the digital currency. Bitcoin will be very much popular if people would start having online transactions from another country.

The use of bitcoin would become a necessity to the majority of people once they start having transactions globally and not just in their area. But let's face it, not everyone is global minded. Some would just stay as they are for years and won't even bother researching about bitcoins.

Well, I have to respect your decision but I do believe that it will impossible to replace dollar by our very own bitcoin. I believe it will be a successful digital currency but it is only up to that as bitcoin cannot take care almost majority of the population in the world who relies solely on fiat money.

yes it can be but not in near future, as USD is one of the most popular and stable currency of the world and the world most economy is depending on Dollar therefore it is not such an easy job that bitcoin will replace Dollar, i think it is only possible if all the people of the world start using bitcoin and reject to use USD any more other wise it is not possible in near future.

[Dr.Osh]

I really doubt that bitcoin will replace dollar soon. Because dollar has been stabilized and control by the government and bitcoin isn't.

So government will not allow this to happen because they are not going to benefit from it if this is going to happen so I'm pretty sure it won't.

But bitcoin is a good substitute for the usage of dollar.

In fact, if bitcoin replace the dollar, are likely to be deep economic crisis in a country that uses the dollar. bitcoin although better than the dollars, I feel that using bitcoin as a payment alternative is still better compared to replace the dollar. Well, I'm pretty sure a lot of great things that will happen if bitcoin replace the dollar

[jonpande]

I think tidak.Bitcoin will not replace the dollar because
The dollar is a global currency and the reliable and they use it as a method of payment for many years. Bitcoin new and most countries are not familiar with Bitcoins, many countries have refused to regulate Bitcoins, I hope the next few years will Bitcoint parallel with fiat and will be accepted in many countries.

[JITENDERPAR3]

Coinbase CEO believes bitcoin will replace dollar within 15 years.

Read the following news:
http://cointelegraph.com/news/114983/coinbase-ceo-bitcoin-will-replace-dollar-within-15-years

Do you think it will be true? Are you positive towards bitcoin's future status?

ofcourse this will replace the doller . because the bitcoin is more perfect than the doller .
since doller is also a known currency for all world but still use for the dollet tends to high transaction charge .
so here it is not bad to say that tge bitcoin will replace tge doller soon .

[danherbias07]

I think tidak.Bitcoin will not replace the dollar because
The dollar is a global currency and the reliable and they use it as a method of payment for many years. Bitcoin new and most countries are not familiar with Bitcoins, many countries have refused to regulate Bitcoins, I hope the next few years will Bitcoint parallel with fiat and will be accepted in many countries.

Global in using its currency. It is most preferred because it became traditional. Actually it is not that strong now, we just got used to it. Converting every currency into USD is the easiest way to understand how much a value of a thing is.