Do You Think Bitcoin Will Replace Dollar Soon?

[JoeStewart]

It is perhaps hard to determine whether Bitcoin will replace dollar (or any other physical currency) because of the nature of Bitcoin. It can be manipulated with a series of well planned actions. So, I don't think it will ever replace the real world currencies.

[1714519826]

1714519826

[Sanugarid]

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?

Nope. I highly doubt. First, Dollar has a physical market value. Second, it has a more stable market value compared to Bitcoin. Third and lastly, it is used in most of the countries. Bitcoin doesn't have a physical value and also, it is volatile, meaning its market value changes from time to time unlike in Dollar.And infact, there are still people and countries wherein Bitcoin and other cryptocurrency are still unknown or they know nothing about it.

[yoonah]

I don't think that Bitcoin will replace Dollar in the near future, but after 50 years or so who knows ? it is possible. Governments and most people nowadays keep using fiat as main currencies and it will need really long time to make crypto currencies as first choice for them.

Yes if bitcoin will replace dollar it may take sometime since fiat has been used for a long time and crypto is still very young but maybe the government is starting to study about this because will all know that almost everything now a days is bases in technology so maybe they are considering this to happen but then again it wont be that early maybe 50 years or more..

[Abiky]

As a base/standard of money, no it won't. Never forget that none of the countries have authority over Bitcoin. If a country consider it to replace local currency, I  think it will be a big mess to their economy. Just imagine how erratic the price of bitcoin is.

I do believe that Bitcoin won't replace anything, instead, it could be recognized as a money - with value.

That is certainly true, mate. Bitcoin may never replace current monetary systems as governments enforce control over fiat. It goes against Bitcoin's decentralized nature, making it an unfriendly payment system to integrate into a country's economy.

Therefore, central banks and governments will always prevail as they roll out their own version of fiat currencies subject to manipulation within a private blockchain system. No matter what happens in the upcoming years, Bitcoin will always remain as a separate monetary system free from the manipulation of any government whatsoever. It will continue to grow and stand alongside fiat currencies for the long term. Just my thoughts

[jaysabi]

No matter how good bitcoin is, it would never replace fiat, specially Dollar, remember that printed money has been around for centuries, and printed money makes banks richer because of the fees, so you really think bitcoin will replace it? do you think the banks will let it happen? no way...
Bitcoin has so low fees to send money instantly to another country, like $1 per transaction (aproximately), if you wanna make a bank transaction to another country then the fees are like $30.
This is one of the reasons why bitcoin could never replace banks and fiat money, because of banks.

Fees aren't exclusive to banks. If Bitcoin became the dominant currency, there would still be financial institutions, especially for lending purposes, and anywhere there's a financial institution there's going to be fees charged for services. So Bitcoin isn't going to eliminate all financial services fees. The only financial service it could eliminate outright are companies like Western Union that charges no fees to transfer money.

[Wong Gendheng]

We must be realistic, dollar is the strongest currency of the world and dominated by USA superpower. of course they will do everything they can to keep it number one, bitcoin is hard to replace the dollar.

[Absentis]

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?

This is possible to replace dollar because digital currency is the most convenient way to do transactions but the question is when because there are lot of people specially the poor people which are mostly uneducated dont know how bitcoin works and it will need people atleast know how to use computers for their future digital transactions. Unlike dollar even crazy people know how to spend it.

[triads]

BTC is a loooong way from being able to replace the Dollar.  Just by virtue of the
inability to clear the thousands of transactions per second required, it is not even
close. The dollar also has this unique status as a international Reserve Currency.

It's more likely that BTC would supplement Gold as a store of value, in a sense acting
like a counter-weight to all the Fiat Currencies... dollar included.

[SamsungBitcoin]

We must be realistic, dollar is the strongest currency of the world and dominated by USA superpower. of course they will do everything they can to keep it number one, bitcoin is hard to replace the dollar.

Correct dollar is a most powerful currency in this world and i do not think bitcoin will replaced it, but it is possible that bitcoin would be one of the good currency in the future because of the big value of it and there is no fiat will replace by bitcoin it is just an additional currency can be used by all people in the world.

[chickenado]

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?

This is possible to replace dollar because digital currency is the most convenient way to do transactions but the question is when because there are lot of people specially the poor people which are mostly uneducated dont know how bitcoin works and it will need people atleast know how to use computers for their future digital transactions. Unlike dollar even crazy people know how to spend it.

I don't agree with your idea my brother because if you look to the currnment scenario nowadays, one of the example of that is china they're banning bitcoins. If we believe that ideas that it will replace dollar that maybe impossible because there's a disadvantage of it to economy due to it's volatile. For me poor people could not easily adopt the system and bitcoin will just remain as to it's recent type of currency an encryption of money which has it's unique value to be the sources of fiat cash.

[galestorm]

I dont think the government will easily accept bitcoin as their main monetary value. Its kind of impossible to imagine. Dollar is kind of a strong currency, if faced with bitcoins and thrown off by it then it will greatly affect the country itself and its neighboring countries as well. It will pass several procedures before they can even do that and considering that its mostly illegal in some countries i doubt that it would be accepted in america as its main currency

[Viscore]

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?

This is possible to replace dollar because digital currency is the most convenient way to do transactions but the question is when because there are lot of people specially the poor people which are mostly uneducated dont know how bitcoin works and it will need people atleast know how to use computers for their future digital transactions. Unlike dollar even crazy people know how to spend it.

No way, do you think dollar cannot make their own digital currency, it will not gonna happen, dollar has it's government supporting that
currency but bitcoin are just looking for an acceptance by the government. If they ban bitcoins it will make a big problem and people will loss and just stop
supporting bitcoin.

[lordquanta]

This would be great. USD is used now for international trade and is under FED control. Bitcoin is on the other hand not under control from anyone. I would love to see btc used as basis for international trade.

- It is less likely to replace the USD with a crypto currencies. There are multiple reasons to it.
 1. FEDs will not let go their control over world trade.
 2. Bitcoin at this stage is NOT scalable to volume of trade between two countries let aside world trade.
 3. Though bitcoin as common currency is really great idea however when stakes are as high as world-control then FED will undermine anyone/anything trying to overpower them.

[Sled]

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?

This is possible to replace dollar because digital currency is the most convenient way to do transactions but the question is when because there are lot of people specially the poor people which are mostly uneducated dont know how bitcoin works and it will need people atleast know how to use computers for their future digital transactions. Unlike dollar even crazy people know how to spend it.

No way, do you think dollar cannot make their own digital currency, it will not gonna happen, dollar has it's government supporting that
currency but bitcoin are just looking for an acceptance by the government. If they ban bitcoins it will make a big problem and people will loss and just stop
supporting bitcoin.

That is right, the government might create a cryptocurrency or digital money for their own country so they will not required to accept bitcoin to improve their financial system that they have right now. The government has a lot of smart and talented people that can make a great currency that can counter the improving environment of bitcoin.

[portotoi]

Maybe it is possible that bitcoin might replace dollar, as far as i know, now the bitcoin is one of the fastest growing investment markets for venture capital in the whole world. but not so soon, maybe it takes time or years.

[Zuilhsa]

If we see in terms of global reserves U.S dollar(top) and Euro serves as the major currencies. Most international transactions are conducted  by dollar and is remaining as a de facto world currency. So it is impossible for bitcoin to replace dollar very soon, may be bitcoin becomes mainstream when adoption increases.

[Ziskinberg]

Maybe it is possible that bitcoin might replace dollar, as far as i know, now the bitcoin is one of the fastest growing investment markets for venture capital in the whole world. but not so soon, maybe it takes time or years.

We can make a good prediction if we based it on facts, bitcoin users AFAIK is less than 5% of the world's total popular and even if the price will rise substantially that would not mean that a big population are already adopting. Bitcoin is still small compared to real currency which is controlled by the government and whatever success bitcoin will achieve it cannot surpass the popularity of a legal currencies.

[legendbtc]

This would be great. USD is used now for international trade and is under FED control. Bitcoin is on the other hand not under control from anyone. I would love to see btc used as basis for international trade.

Nothing is predictable many people and governments are not showing any interest towards Bitcoin. Only a few countries have accepted Bitcoin as legalized currency. Anything can happen if governments can take action whether to accept Bitcoin or not.

[quarters]

Not possible, if price or stability means anything to people and govs they already need to preferred gold.

[TTMNewsK]

Yes I think.
Bitcoin is our future money. So it has the chance to replace the dollar soon but we do not know when. Its gonna be a long ride!