WatchMaker
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Activity: 518
Merit: 104
PUFFY FINANCE
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September 04, 2017, 09:42:41 PM |
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Yes, bitcoin may replace USD in the future but I think both have their own roles to play.
USD will be used as paper currency from banks and cash n' carry businesses.
While bitcoin will provide fully functional cashless economy.
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Wexnident
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September 04, 2017, 09:47:22 PM |
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I don't think so. Dollar is a big currency and it also have a physical market value. Given the fact that it is used and is legal to different countries, it will be impossible if Bitcoin will replace it within 15 years. Maybe Bitcoin in the future will be more dominant or will be more used than other currency but it's really hard to tell that it will totally replace dollar. |
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WatchMaker
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Activity: 518
Merit: 104
PUFFY FINANCE
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September 04, 2017, 09:57:04 PM |
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My answer is no bitcoin cannot replace any other physical currency because some other government instution banned bitcoin in their country and really for the fact that bitcoin anonymous well i can say theirs no way it can replace dollars because first dollar is the biggest contributor in economic trades as we can see what we see symbol for currency we trade online its always dollars, and that stated how power is the dollars thay influence global market thats why bitcoin is nobody for dollars.
Yes, for that matter as well, I see China has banned ICOs and bitcoin to currency exchange today. Perhaps in future, the government may learn more on how to implement bitcoin ourthe societies. |
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Sahabat_
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Activity: 322
Merit: 100
First 100% Liquid Stablecoin Backed by Gold
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September 05, 2017, 01:34:58 AM |
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I don't think so. Dollar is a big currency and it also have a physical market value. Given the fact that it is used and is legal to different countries, it will be impossible if Bitcoin will replace it within 15 years. Maybe Bitcoin in the future will be more dominant or will be more used than other currency but it's really hard to tell that it will totally replace dollar. really bitcoin has a high enough price but it will not be easy to replace the dollar, and when bitcoin has begun to control the country's currency of course the government will not remain silent and will ban the bitcoin |
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millgates
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September 05, 2017, 02:40:09 AM |
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My answer is no bitcoin cannot replace any other physical currency because some other government instution banned bitcoin in their country and really for the fact that bitcoin anonymous well i can say theirs no way it can replace dollars because first dollar is the biggest contributor in economic trades as we can see what we see symbol for currency we trade online its always dollars, and that stated how power is the dollars thay influence global market thats why bitcoin is nobody for dollars.
Yes, for that matter as well, I see China has banned ICOs and bitcoin to currency exchange today. Perhaps in future, the government may learn more on how to implement bitcoin ourthe societies. I am sorry but I disagree with you two, there is a probability that bitcoin can replace fiat. Some countries has legalized bitcoin and some countries has banned it. People in Denmark are trying to decrease the fiat usage and replace it by virtual currency. I think bitcoin has probability to replace dollar but not soon. |
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kevpantof
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September 05, 2017, 08:19:23 AM |
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Bitcoin have power. Everyone who study economy know that. But anyway it is only experiment!
Bitcoins have got the potential to be the next international currency of the world beating dollar and all currencies next to it in line. Dollar is nothing in front of bitcoins. The price of one bitcoins is much more than 1 dollar. Dollars seems to be a toddler in front of bitcoins, lol. |
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Therly
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Activity: 42
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September 05, 2017, 11:47:52 AM |
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I never think Bitcoin will change it but I think Bitcoin will turn into more of the normal that fiats have to hold them selves to.
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Fida-crypto
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September 05, 2017, 12:08:24 PM |
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as soon it is impossible dream that bitcoin be the main currency but if we feel the bitcoin is saved then we can show the dream is be fact
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MCS23
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September 05, 2017, 12:31:47 PM |
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I do not think that bitcoin will soon replace the dollar, because these are two different directions and the instability of bitcoin will be unprofitable for many entrepreneurs.
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TrumpD
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September 05, 2017, 05:44:03 PM |
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I doubt It, the dollar does not need replacing. It is what it is and bitcoin is something completely different. They compliment each other, there should be no hurry to replace unless of course you are Chinese.
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Akash1243
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September 05, 2017, 06:59:00 PM |
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I don't think so that bitcoin can replace dollar or any other currency for now at least as Bitcoins are still very volatile,unstable and needs time for confirmations and all that disadvantages of bitcoins.But of course bitcoins have the potential to replace every fiat in the future.And many countries haven't even legalised bitcoins and if by chance bitcoin slowly start replacing dollars i think so government will remain silent and they will start to either ban or try to control Bitcoin.
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stolendata
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September 05, 2017, 07:15:19 PM |
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I do not think that bitcoin will soon replace the dollar, because these are two different directions and the instability of bitcoin will be unprofitable for many entrepreneurs.
yes it do not look like that bitcoin will replace dollar soon . i think that it will take more that century because currently a very little number of people know about bitcoin and the majority of people still do not know about it. i think it is not such an easy job to make a new system i think it is possible but not so easy, it will take generations may be the next generation will replace bitcoin for dollar. |
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ceremonita
Member
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Activity: 88
Merit: 10
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September 05, 2017, 07:20:49 PM |
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My answer is no bitcoin cannot replace any other physical currency because some other government instution banned bitcoin in their country and really for the fact that bitcoin anonymous well i can say theirs no way it can replace dollars because first dollar is the biggest contributor in economic trades as we can see what we see symbol for currency we trade online its always dollars, and that stated how power is the dollars thay influence global market thats why bitcoin is nobody for dollars.
Yes, for that matter as well, I see China has banned ICOs and bitcoin to currency exchange today. Perhaps in future, the government may learn more on how to implement bitcoin ourthe societies. I am sorry but I disagree with you two, there is a probability that bitcoin can replace fiat. Some countries has legalized bitcoin and some countries has banned it. People in Denmark are trying to decrease the fiat usage and replace it by virtual currency. I think bitcoin has probability to replace dollar but not soon. Be realistic dude, there is no possibility for bitcoin to replace fiat currency. It doesn't have enought market value. Imagine how billions of dollars are in the service now, maybe trillions of dollars. Bitcoin wouldn't be enough to get used as a fiat currency on the earth. |
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romero121
Legendary
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Activity: 3164
Merit: 1213
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September 05, 2017, 07:35:40 PM |
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I do not think that bitcoin will soon replace the dollar, because these are two different directions and the instability of bitcoin will be unprofitable for many entrepreneurs.
yes it do not look like that bitcoin will replace dollar soon . i think that it will take more that century because currently a very little number of people know about bitcoin and the majority of people still do not know about it. i think it is not such an easy job to make a new system i think it is possible but not so easy, it will take generations may be the next generation will replace bitcoin for dollar. As a whole when the number of bitcoin users were calculated, we are very small in number compared to the fiat used all around the world. This has caused the fiat usage more easier than the bitcoin usage and now a days little by little bitcoin usage keep on increasing. Hope the same might lead for a healthy growth, but won't replace the dollar. |
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Fundalini
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September 05, 2017, 08:46:09 PM |
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No, that idea is a little bit farfetched. Dollar is a big currency, highly established and trusted by many while bitcoin is an unstable, and somewhat new currency. And besides, for bitcoin to be at least equal grounds to dollar, it has to be used by many people.
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Superways
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September 05, 2017, 10:59:45 PM |
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Nope, it cannot happen. The government would not want a decentralized and a digital currency to be used in everyday life of every people. It's not practical for that matter.
Well you cannot be this much sure about anything. It is just time which will decide that whether or not this thing can happen. For me, anything is possible and you can expect anything to happen in coming years. There are chances of this that Bitcoin will manage to replace Dollar one day, but at present it will be nearly impossible. |
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Ipwich
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September 05, 2017, 11:37:22 PM |
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Nope, it cannot happen. The government would not want a decentralized and a digital currency to be used in everyday life of every people. It's not practical for that matter.
Well you cannot be this much sure about anything. It is just time which will decide that whether or not this thing can happen. For me, anything is possible and you can expect anything to happen in coming years. There are chances of this that Bitcoin will manage to replace Dollar one day, but at present it will be nearly impossible. Let's stick to the present, with that prediction we are dethroning dollar in the this and probably the other currencies as well as we know dollar is a very powerful currency. I think think it will happen even in the future, just recently china announce they ban ICOs and bitcoin drops, what more if they will announce bitcoin will be ban, then for sure it will become worthless. |
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Bitcotalk
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September 06, 2017, 07:03:21 AM |
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My answer is no bitcoin cannot replace any other physical currency because some other government instution banned bitcoin in their country and really for the fact that bitcoin anonymous well i can say theirs no way it can replace dollars because first dollar is the biggest contributor in economic trades as we can see what we see symbol for currency we trade online its always dollars, and that stated how power is the dollars thay influence global market thats why bitcoin is nobody for dollars.
Indeed bitcoins are unable to replace fiat because fiat has very deep roots in the world economy. Dollar is paper money and people will not stop using it because they feel comfortable dealing with paper money. Otherwise nothing could have stopped bitcoins from knocking out from the economical system. |
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Natalim
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September 06, 2017, 07:13:40 AM |
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My answer is no bitcoin cannot replace any other physical currency because some other government instution banned bitcoin in their country and really for the fact that bitcoin anonymous well i can say theirs no way it can replace dollars because first dollar is the biggest contributor in economic trades as we can see what we see symbol for currency we trade online its always dollars, and that stated how power is the dollars thay influence global market thats why bitcoin is nobody for dollars.
Indeed bitcoins are unable to replace fiat because fiat has very deep roots in the world economy. Dollar is paper money and people will not stop using it because they feel comfortable dealing with paper money. Otherwise nothing could have stopped bitcoins from knocking out from the economical system. I think everyone has our own belief and I would respect anyone who think that bitcoin will replace fiat or dollar as they are too confident with the greatness of bitcoin. For me, there is a possibility maybe but that would be an impossible mission for all of the supporters to make it happen. |
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Abiky
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September 06, 2017, 05:57:57 PM |
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Bitcoin does not need the dollar, right now the most powerful currency is the dollar and that is why every currency is compared to it, when bitcoin takes that spot then every currency will be compared to bitcoin instead.
Agree. Bitcoin being decentralized in nature, is well against government's ideals, making it quite difficult to replace the dollar anytime soon. As the pioneer cryptocurrency is not capable of handling all of the world's transactions, the dollar will have quite an advantage in this regard for many years to come. However, if cryptocurrencies like Bitcoin become stronger and fiat currencies become weaker, at some point, the former will have the possibility of replacing the most well-known currencies in the world like the US Dollar and the Euro. But given the fact, that governments are exploring into blockchain technology, fiat currencies will survive for the long term once the switch is made, leading them towards the same level as cryptocurrencies. Nevertheless, while Bitcoin may be far from replacing the dollar soon, it could stand alongside it, that can be used as an alternative payment system in the time of need. Just my thoughts  |
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