Do You Think Bitcoin Will Replace Dollar Soon?

[choppork]

How can bitcoin replace dollar ? This cannot happen anytime because dollar is being accepted worldwide for ages and bitcoin firstly is not stable, not controlled by any authority and not used by all countries. So things which is not accepted worldwide will have less significance and for any currency to be used it has to be controlled and regulated by an authority.

Then what are you doing here? You're saying that you can't use bitcoins yet here you are. Actually, just explain the fact that I just bought a phone using my bitcoins. You can use a currency even if it's not controlled or regulated by the government as long as the recipient is willing to accept it. On the other hand, even dollars isn't accepted by all countries. There are countries that are even against accepting foreign currencies.

Dollar and bitcoin has something in common, though. Both of them can easily be exchanged into another fiat currency. But bitcoin has the advantage of it can be easily exchanged into any digital currency, even digital fiat and digital gold.

Btw, nothing is accepted everywhere in the world. Even an idea, even a concept, even anything. There will always be contradictions. There will always be people distrusting something, questioning something.

[Angel777]

Bitcoin may replace dollar soon because when we talk bitcoin many things can do in all aspects of life.
Even to money bitcoin can produce money.
In the future i think bitcoin can be use in any transactoin into all the world.
People can do what ever they want from bitcoin.that bitcoin can transact fast to all kinds of transaction in this worrld.

[CryptoRama]

with a fee of 1USD bitcoin will never be allways used, so we will still need an asset that you can touch.

[ahmia39]

No, because bitcoin users still have to be enhanced so people in the world know bitcoin. There are still many people who do not know about bitcoin, how to use it and the benefits of bitcoin. So that means, dollar is still needed and cann't be replaced with bitcoin.

[Netnox]

with a fee of 1USD bitcoin will never be allways used, so we will still need an asset that you can touch.

Nothing is for free. I agree that there will be a problem with the micro-payments, if the fee remains in the $0.50 - $1.00 range. But look at the other options such as PayPal and Western Union. They are charging even higher fees.

[Supercrypt]

i dont think so..

dollar is dollar and when you see dollar you see power.
bitcoin is bitcoin

Bitcoin is also powerful but not powerful as dollar, in fact we rely on the value of a certain currency which is most cases it's dollar because it's the most powerful currency IMO.

No, not at all before giving any such statement we need to look at the history of the Dollar that how and due to which reasons the dollar became an international currency.

After reviewing these, I guess one will understand that how much time and strength the BTC will require to replace the dollar. It can only replace the dollar if it works only in the interest of the USA and the USA government holds its ownership like they hold of the dollar.

[radjie]

If the dollar is replaced bitcoin, I think that's not possible.
Bitcoin just as a global reserve currency.
Maybe 15 years into the future bitcoin growth will grow large, so people are familiar with this digital currency.
In the future bitcoin will be known to many people, but bitcoin will not replace the dollar.

[bitllionaire]

with a fee of 1USD bitcoin will never be allways used, so we will still need an asset that you can touch.

yes that is the main reason that the users of btcoin are not mor and still not more than 1% people are using bitcoin . i think it will take such a long lon g time as it is even not possible in near future.

[cryp24x]

with a fee of 1USD bitcoin will never be allways used, so we will still need an asset that you can touch.

yes that is the main reason that the users of btcoin are not mor and still not more than 1% people are using bitcoin . i think it will take such a long lon g time as it is even not possible in near future.

It does not need a very long time to think or observe if bitcoin will or will not replace Bitcoin.  From the way things move, we can definitely say Bitcoin will never replace dollar because the government won't allow it.  Bitcoin is decentralized while government favors centralized currency.  That is the thing why BTC won't replace as Dollar.

[Fatanut]

with a fee of 1USD bitcoin will never be allways used, so we will still need an asset that you can touch.

Nothing is for free. I agree that there will be a problem with the micro-payments, if the fee remains in the $0.50 - $1.00 range. But look at the other options such as PayPal and Western Union. They are charging even higher fees.

In terms of micropayments, you can do it on Paypal since they base their fee on percentage. You can transact a million dollars in bitcoins and pay just a dollar or two, it depends on you if you want to go higher than that. That's almost nothing compared to the transacted amount. Unfortunately, people are always going to find something to rant about.

You can easily fasten up the transaction by adding more fees (you get what you pay for) but people are ranting about that truth. I believe that after we achieved Lightning network, people will rant about other things like bitcoin's price, volatility, anonymity features, etc. People has an endless list of things to rant about.

[anami57]

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?

No i don't think so. There is no way that bitcoin can replace dollar because dollar is consider as a real money than bitcoin and dollar is use all over the world unlike bitcoin it is not very stable. There is no main reason that bitcoin can replace dollar.

Dollar cann't replaced from international currency by any currency. Bitcoin is a digital currency, unlike dollar though it does have the same benefits. Bitcoin may be better than dollar, but limited just at web world.

yes cant be replaced. even other fiats cant be. but bitcoin has a lot of potential that can be used as the international currency or digital I mean. by this you can just use bitcoin to transact even if the person you are transacting too is in the other country.

That's i mean. Bitcoin can be an international digital currency. Because bitcoin isn't governed by any country in world. Sending money to anyone anywhere can be represented with bitcoin.

[grermezter]

I highly doubt that its going to happen at all, there is no way that a crypto currency can replace the biggest currency of the entire world.

[cryp24x]

I highly doubt that its going to happen at all, there is no way that a crypto currency can replace the biggest currency of the entire world.

I agree, Bitcoin is best being alternative but never as a replacement to a national currency due to the issue of centralization and regulation.  Government wants centralized and regulated currency which bitcoin does not have or missing.  Unless government take over bitcoin then it will never happen that bitcoin will replace dollar.

[Janation]

I highly doubt that its going to happen at all, there is no way that a crypto currency can replace the biggest currency of the entire world.

I agree, Bitcoin is best being alternative but never as a replacement to a national currency due to the issue of centralization and regulation.  Government wants centralized and regulated currency which bitcoin does not have or missing.  Unless government take over bitcoin then it will never happen that bitcoin will replace dollar.

Governemnt will never take over bitcoin, I don't say they won't, but it will really be a bad thing, there will be no decentralization and I think the anonymity will be also stripped offf through the users. And I don't like that, there is no way bitcoin will replace fiat,even in far far future, because not all will be using it. It will stay as a digital currency.

[noone000]

From my basic understanding of economics, I doubt the American government would ever allow the bitcoin to replace the dollar. Their control over the dollar not only allows them to control the flow of trade through the exchange rate, but also implement contractionary/expansionary monetary policy when necessary. To be quite frank, I'm not quite sure if any country would want to to fix their currency to the dollar simply because the value of their currency is so expensive and this will likely lead to a massive trade deficit.

[Harry Callahan]

No, because bitcoin users still have to be enhanced so people in the world know bitcoin. There are still many people who do not know about bitcoin, how to use it and the benefits of bitcoin. So that means, dollar is still needed and cann't be replaced with bitcoin.

Bitcoin is not meant to replace any existing transaction method but to have more control over your asset than a central bank and so we does not need more people using it and definitely it cannot accommodate everyone in this planet. So we does not need these type of question being asked again and again.

[MB boss]

with a fee of 1USD bitcoin will never be allways used, so we will still need an asset that you can touch.

Nothing is for free. I agree that there will be a problem with the micro-payments, if the fee remains in the $0.50 - $1.00 range. But look at the other options such as PayPal and Western Union. They are charging even higher fees.

Yes the fees of other options of payment are very high and so in that case we have to rely only on bitcoin for to save our money from wasting in the fees of transactions.

[MingLee]

From my basic understanding of economics, I doubt the American government would ever allow the bitcoin to replace the dollar. Their control over the dollar not only allows them to control the flow of trade through the exchange rate, but also implement contractionary/expansionary monetary policy when necessary. To be quite frank, I'm not quite sure if any country would want to to fix their currency to the dollar simply because the value of their currency is so expensive and this will likely lead to a massive trade deficit.

Even though the US may not want for the dollar's grip on the world to be weakening, it is, regardless of how they want to look at it and there isn't much that can be done right now. The economies of all countries are too tied together for a war to occur between the offending countries and the US, and the US is decaying on the inside, now just being propped up by the government and the fact it retains the position as the controller of the world reserve currency.
The next few decades are going to be interesting.

[ipungadhi]

with a fee of 1USD bitcoin will never be allways used, so we will still need an asset that you can touch.

Thats true, the higher the bitcoin price the more expensive the fee you will spend. I'm sure there will be many users who do not accept with such a large fee today

[noone000]

From my basic understanding of economics, I doubt the American government would ever allow the bitcoin to replace the dollar. Their control over the dollar not only allows them to control the flow of trade through the exchange rate, but also implement contractionary/expansionary monetary policy when necessary. To be quite frank, I'm not quite sure if any country would want to to fix their currency to the dollar simply because the value of their currency is so expensive and this will likely lead to a massive trade deficit.

Even though the US may not want for the dollar's grip on the world to be weakening, it is, regardless of how they want to look at it and there isn't much that can be done right now. The economies of all countries are too tied together for a war to occur between the offending countries and the US, and the US is decaying on the inside, now just being propped up by the government and the fact it retains the position as the controller of the world reserve currency.
The next few decades are going to be interesting.

I'm not quite sure how this all ties in the the United States currency. You stated how the dollar's influence on the rest of the world is weakening, but my question is how so? I'm also not entirely sure what you mean about them being the controllers of the world reserve currency. Are you referring to their influence on the IMF and World Bank. I'm sorry you might actually have a point but I don't quite understand it.