Do You Think Bitcoin Will Replace Dollar Soon?

[greBit]

On what would the value of bitcoin be based? Like the euro it is a baseless currency with a value dependent on demand.

everything depend on demand, i don't know what you're traying to say with this, but if the dollar ever collapse and bitcoin replace it the value would be astronomically high, this want happen soon this is guaranteed
but the possibility is there, it's in the hands of the people not governments, if anybody will use bitcoin, bitcoin price will explode otherwise otherwise it will only be used as an alternative

Bitcoin was invented to serve as an alternative, not perceived as a currency which wanted to defeat all other currencies and grab the market like its world domination. Bitcoin can only be an alternative, not a replacement. I don't really believe there is any use of talking about how dollar will collapse, people think bitcoin will replace it. No chance of that happening. best scenario would be that fiat and crypto co-exist and are used equally.

[Slark]

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?

Oh really? You probably know that own strong currency is country greatest asset. US will never ever switch to currency they can't fully control.
Furthermore it is known that majority of bitcoin farm and assets are in chinese hands, US government will never let other countries to have easy way to manipulate US economy.
Realistic scenario would be rather creating their own US COIN as Reserve Bank and IBM are already working on it.

[CryptoRev]

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?

Oh really? You probably know that own strong currency is country greatest asset. US will never ever switch to currency they can't fully control.
Furthermore it is known that majority of bitcoin farm and assets are in chinese hands, US government will never let other countries to have easy way to manipulate US economy.
Realistic scenario would be rather creating their own US COIN as Reserve Bank and IBM are already working on it.

Do you have any link or something where i can read about what IBM and Reserve Bank are working on. Thanks.

[torrentheaven]

On what would the value of bitcoin be based? Like the euro it is a baseless currency with a value dependent on demand.

everything depend on demand, i don't know what you're traying to say with this, but if the dollar ever collapse and bitcoin replace it the value would be astronomically high, this want happen soon this is guaranteed
but the possibility is there, it's in the hands of the people not governments, if anybody will use bitcoin, bitcoin price will explode otherwise otherwise it will only be used as an alternative

Yeah, looking at the present scenario it is difficult to judge that bitcoin can ever replace any major currency, as the users of bitcoins are comparatively low as compared to USD or any other currency and the reason is the adoption level of bitcoins.

If adoption level goes high, then there are chances that it can replace USD, or else it might just be used as a secondary currency.

[greBit]

On what would the value of bitcoin be based? Like the euro it is a baseless currency with a value dependent on demand.

everything depend on demand, i don't know what you're traying to say with this, but if the dollar ever collapse and bitcoin replace it the value would be astronomically high, this want happen soon this is guaranteed
but the possibility is there, it's in the hands of the people not governments, if anybody will use bitcoin, bitcoin price will explode otherwise otherwise it will only be used as an alternative

Yeah, looking at the present scenario it is difficult to judge that bitcoin can ever replace any major currency, as the users of bitcoins are comparatively low as compared to USD or any other currency and the reason is the adoption level of bitcoins.

If adoption level goes high, then there are chances that it can replace USD, or else it might just be used as a secondary currency.

Bitcoin was always believed to be an alternative currency and not a replacement to fiat, so all the people who think that bitcoin will replace other currencies, are probably wrong. The only way btc can truly function is when it works along with fiat and there is equal use of both the currencies where adoption is not an issue, but security and speed matters. That will be the real btc vs fiat and we already know who will dominate

[GriffinHeart]

Bitcoin will never replace the dollar. The dollar is too cemented into culture. Bitcoin will surely be accepted more as payment when it stabilizes, but the dollar and other physical currencies have made too much of an impact to be replaced. It's a far stretch to say that any physical currency could be replaced by a cryptocurrency.

[randy8777]

Bitcoin will never replace the dollar. The dollar is too cemented into culture. Bitcoin will surely be accepted more as payment when it stabilizes, but the dollar and other physical currencies have made too much of an impact to be replaced. It's a far stretch to say that any physical currency could be replaced by a cryptocurrency.

the price is not really a problem for merchants willing to accept bitcoin as form of payment. they can choose to get the bitcoin sales instantly converted to fiat. price is not an issue.

[qiwoman2]

I only think it may replace the USD if the USD really goes pear shaped and the Chinese sell all the U.S bonds but because there are already too many whales in bitcoin I think Govts will resort to creating their own national digital currency in order to have some control..

[bitcollins85]

The USD has become the defacto global currency, for better or worse.. So this scenario assumes btc replaces the most widely used dominant currency on the globe, and btc becomes the world reserve currency like the USD is today. I'd say that's pretty much a total win for btc.

[Erdogan]

The answer:

All small fiats go down -> all large fiats except dollar goes down -> dollar goes down -> a new world fiat system is attempted, which goes down -> gold and bitcoin and possibly some other private money perceveres. Prosperity restored, heaven next.

It is easy when you have a crystall ball that works.

[Insertion]

Bitcoin will never replace the dollar. The dollar is too cemented into culture. Bitcoin will surely be accepted more as payment when it stabilizes, but the dollar and other physical currencies have made too much of an impact to be replaced. It's a far stretch to say that any physical currency could be replaced by a cryptocurrency.

Correct, bitcoin will never and ever replace dollar. Bitcoin is a decentralized digital currency. Decentralized means it was not created by any government. Digital means it exists only online. As a currency, it can be used as a alternative online currency to buy goods and services. No government’s central bank sets the value of a bitcoin. If people believe a single bitcoin is worth 5 US dollars then bitcoin price will be $5. If people believe it is worth $500, then it is worth $500. So bitcoin and dollars are two completely different system never ever one will replace other.

[MinerHQ]

Bitcoin will never replace the dollar. The dollar is too cemented into culture. Bitcoin will surely be accepted more as payment when it stabilizes, but the dollar and other physical currencies have made too much of an impact to be replaced. It's a far stretch to say that any physical currency could be replaced by a cryptocurrency.

Correct, bitcoin will never and ever replace dollar. Bitcoin is a decentralized digital currency. Decentralized means it was not created by any government. Digital means it exists only online. As a currency, it can be used as a alternative online currency to buy goods and services. No government’s central bank sets the value of a bitcoin. If people believe a single bitcoin is worth 5 US dollars then bitcoin price will be $5. If people believe it is worth $500, then it is worth $500. So bitcoin and dollars are two completely different system never ever one will replace other.

This is 100% correct. Bitcoin will not replace dollar. This is a just a alternative currency for online buying and selling.

[Nahl]

i will answer never and ever not today not for next month or not in the next year bitcoin will never replace dollar and i guess CEO of coinbase only just speculate about it

[tyrexs]

i have read some thread in forum and see some people trust bitcoin will replace fiat money but i dont think bitcoin can replace fiat money.

[kenbytes]

I think in the coming years to grow a lot but still take up to eliminate the dollar.... but I think that this is the digital evolution and growing very fast ...

[Shinpako09]

Nah, even 15, 20,30 years it wont replace dollars. Maybe a lot or whole country will use btc after that years but replacing dollars. I dont believe it. Btc is just a money in internet and it will stay in internet. Having a 1satoshi bill thats kinda funny

[eternalgloom]

I seriously doubt that Bitcoin would replace the dollar soon.
I do think the technology behind Bitcoin and the blockchain will be used by banks and other companies, but it will not replace the dollar.

[Ayoko]

Maybe possible that Bitcoin will be replaced fiat in a matter of years and discovery of the people  to this virtual currency.

[Luqman]

Nope, 15 years jut likely too early. Maybe bitcoin will replaced within 100 years?

[illyiller]

Nope, 15 years jut likely too early. Maybe bitcoin will replaced within 100 years?

I don't see what all this fuss is about replacing fiat currency. As long as there are governments, there will be an entrenched place for fiat currency. Governments may default, currencies may collapse -- but that doesn't mean they are going away. Have they in the past? No....

Bitcoin will hopefully have a place in the future like gold. A decentralized store of value. Traded against fiat currencies and (hopefully) rising against them over time.