BeGoods
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June 04, 2017, 11:11:33 AM |
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In my own opinion, I dont think bitcoin will replace dollar soonest. Though bitcoin is already popular in any countries still dollar is being used as currency in the world.
i am thinking the same as you because bitcoin need to do more to replace dollar and bitcoin need to be approve by many country and people using bitcoin for their daily life. we need more years to see that bitcoin is replacing dollars and until that time is come, we only can make money by withdraw our bitcoin into fiat and send it in our local bank. I do not think it takes a dollar to be accepted and used by many people in the world. You know the potential of bitcoin is good enough for many people to use but not by replacing the dollar |
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qiwoman2
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June 04, 2017, 11:22:38 AM |
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I am not sure that Bitcoin will ever replace the dollar as such but a DIGITAL DOLLAR might eventually replace the hard cahs fiat one. The Bank of Russia is talking about countries issuing their own digital currencies from their central banks so I think in the near future we might see the USD on the blockchain. I also believe the Chinese are about to make a digital renminbi off of the Ethereum blockchain.  |
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Palider
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June 04, 2017, 12:19:20 PM |
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If your talking about bitcoin to replace dollar's dominance in the global market then there is a chance that depends if the acceptance of Japan and Australia will also followed by other countries especially those who have strong economic prowess now that Russia is thinking how to legalize it and meanwhile US is considering to mark bitcoin as money and might as well open up its acceptance depending on the decision of the court. Let us just see how bitcoin will develop this coming months especially the SegWit to be implemented this August 1 and the news that will rise though let's wish that these news would be nice.
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ppc.pt
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June 04, 2017, 12:21:52 PM |
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As a store of value it is replacing it but the minute. Not only BTC, there are other currencies growing 100x faster
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Pattart
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June 04, 2017, 01:04:11 PM |
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In my own opinion, I dont think bitcoin will replace dollar soonest. Though bitcoin is already popular in any countries still dollar is being used as currency in the world.
i am thinking the same as you because bitcoin need to do more to replace dollar and bitcoin need to be approve by many country and people using bitcoin for their daily life. we need more years to see that bitcoin is replacing dollars and until that time is come, we only can make money by withdraw our bitcoin into fiat and send it in our local bank. Replacing the dollar will make bitcoin very famous but for that to happen it will take a very long time because bitcoin needs a difference that makes a lot of people prefer bitcoin |
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Blamsud
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June 04, 2017, 03:00:42 PM |
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In my own opinion, I dont think bitcoin will replace dollar soonest. Though bitcoin is already popular in any countries still dollar is being used as currency in the world.
i am thinking the same as you because bitcoin need to do more to replace dollar and bitcoin need to be approve by many country and people using bitcoin for their daily life. we need more years to see that bitcoin is replacing dollars and until that time is come, we only can make money by withdraw our bitcoin into fiat and send it in our local bank. Replacing the dollar will make bitcoin very famous but for that to happen it will take a very long time because bitcoin needs a difference that makes a lot of people prefer bitcoin Since btc were not applicable yet on every country ,btc replacing dollor may not happen. |
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farhaan
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June 04, 2017, 03:11:13 PM |
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It has been estimated that bitcoin would be the sixth largest reserve currency by 2030.Bitcoin may replace dollars but not in 15 years.It would take long time to happen since US dollars is known all over the world and most people of the world are not familiar with bitcoin.
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Rinder
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June 04, 2017, 03:20:42 PM |
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This is something that wont happen, dollars is world currencie number one, if dollars wanna they can buy all bitcoins, but isnt those the purpose of a currencie to buy the other. Bitcoin value is unlimited along the mine, when it stop it should be different, demand and supply but the thing is if no one is interested into bitcoin price will drop easy as that.
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Fatanut
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June 04, 2017, 03:32:08 PM |
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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.
Currencies of third world countries or developing countries will surely be defeated by bitcoin. But bitcoin can't replace USD status as an international currency that has capitalization is much larger than bitcoin, because not only by American citizens themselves but USD is held by many people in the world. With that you're basically saying that third world countries would accept bitcoin and ditch their very own local currencies. How so? And how come the US of A will not do the same thing? It's not about how strong a currency is, it's about which people would prefer to use. There's probably more percentage of the population of major countries (including USA) that knows about bitcoin as compared to people from third world countries. Remember that there's a major digital divide going on to most third world countries and almost none to major countries (or first world ones). I believe that USA is actually one of the first ones to adopt bitcoin assuming that bitcoin goes mainstream. With the digital divide, the people from third world countries can't totally adopt to it, thus, their local currency will remain strong. |
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bncbnc
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June 04, 2017, 05:39:40 PM |
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In my own opinion, I dont think bitcoin will replace dollar soonest. Though bitcoin is already popular in any countries still dollar is being used as currency in the world.
i am thinking the same as you because bitcoin need to do more to replace dollar and bitcoin need to be approve by many country and people using bitcoin for their daily life. we need more years to see that bitcoin is replacing dollars and until that time is come, we only can make money by withdraw our bitcoin into fiat and send it in our local bank. Replacing the dollar will make bitcoin very famous but for that to happen it will take a very long time because bitcoin needs a difference that makes a lot of people prefer bitcoin yes that is right it is in fact not such an easy job. th e users of bitcoin are still very low, it can only be possible when the all the people of the world start using bitcoin, and i do no think that it can be possible in near future. to me i think it will really take a lot of time. it is also depending on the interest of the government, if government is interested in bitcoin and they will consider bitcoin as legal currency then there are are more chances for that, |
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radjie
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June 05, 2017, 04:59:32 AM |
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It will not happen so bitcoin can replace the existing dollar in fact bitcoin will be the same position as the dollar because the value of other coins should be exchanged into bitcoin as well as the currency of all countries increase in price following the movement of the dollar.
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uneng
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June 05, 2017, 05:55:45 AM |
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In my own opinion, I dont think bitcoin will replace dollar soonest. Though bitcoin is already popular in any countries still dollar is being used as currency in the world.
i am thinking the same as you because bitcoin need to do more to replace dollar and bitcoin need to be approve by many country and people using bitcoin for their daily life. we need more years to see that bitcoin is replacing dollars and until that time is come, we only can make money by withdraw our bitcoin into fiat and send it in our local bank. Replacing the dollar will make bitcoin very famous but for that to happen it will take a very long time because bitcoin needs a difference that makes a lot of people prefer bitcoin yes that is right it is in fact not such an easy job. th e users of bitcoin are still very low, it can only be possible when the all the people of the world start using bitcoin, and i do no think that it can be possible in near future. to me i think it will really take a lot of time. it is also depending on the interest of the government, if government is interested in bitcoin and they will consider bitcoin as legal currency then there are are more chances for that, Governments won't be interested in bitcoins as official currency, it's too volatile and dangerous as it's global. A government using bitcoins officially could be easily economic destroyed by foreigners as bitcoin is global. A country could do a big effort to affect bitcoin price negatively, what would be very sad for the country adopting bitcoin. |
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batang_bitcoin
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June 05, 2017, 06:09:39 AM |
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It will not happen so bitcoin can replace the existing dollar in fact bitcoin will be the same position as the dollar because the value of other coins should be exchanged into bitcoin as well as the currency of all countries increase in price following the movement of the dollar.
It's not going to happen as dollar is in the world a lot of years already. People will choose to use dollar instead of bitcoin. No matter what happens, bitcoin will be used digitally and when it comes to fiat, that's the place where dollar will dominate almost all countries from their foreign exchange rates. |
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Japinat
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June 05, 2017, 06:52:51 AM |
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It will not happen so bitcoin can replace the existing dollar in fact bitcoin will be the same position as the dollar because the value of other coins should be exchanged into bitcoin as well as the currency of all countries increase in price following the movement of the dollar.
It's not going to happen as dollar is in the world a lot of years already. People will choose to use dollar instead of bitcoin. No matter what happens, bitcoin will be used digitally and when it comes to fiat, that's the place where dollar will dominate almost all countries from their foreign exchange rates. Bitcoin could be a great fuel to increase dollar circulation in this world and the same with other legal currency, there is nothing to compare and both can help a faster online transaction. Bitcoin is limited only for online transaction and it is not regulated by the government, it has its unique purpose and it's a compete opposite of dollar so it will not surpass the value or popularity of dollar. |
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fujyo86
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June 05, 2017, 07:31:47 AM |
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Bitcoin cann't. In terms of function, bitcoin can only fulfill a fraction as a means of payment. So it's very difficult if bitcoin will replace ability dollars in financial activities.
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mrfreezeh
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June 05, 2017, 08:19:51 AM |
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15 Years is a long time space... But like someone told: "Nothing is impossible!!" So we will know the answer until "15 years" comes But I really want Bitcoin defeats Dollar currency  |
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stadus
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June 05, 2017, 08:24:59 AM |
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Bitcoin cann't. In terms of function, bitcoin can only fulfill a fraction as a means of payment. So it's very difficult if bitcoin will replace ability dollars in financial activities.
That's a great understanding, bitcoin is a secure way of payment using the blockchain but it would never be the main currency of a certain country, there so much risk in investing and how much more if it will be use as a main currency, the government cannot manipulate it but the whales can. |
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Anegg
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June 05, 2017, 08:26:50 AM |
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There is an extremely small chance that Bitcoin will overtake fiat, but there is definitely a chance. However, governments would never give up fiat and take up a decentralised system because they lose all control. |
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Sir Legend
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June 05, 2017, 09:26:23 AM |
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Bitcoin cann't. In terms of function, bitcoin can only fulfill a fraction as a means of payment. So it's very difficult if bitcoin will replace ability dollars in financial activities.
Agree, I think it still takes a long time, and could not immediately, all countries still keep foreign reserves by USD so that if there is no State policy of course they will not replace with bitcoin. |
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evilgreed
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June 05, 2017, 04:13:36 PM |
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Bitcoin cann't. In terms of function, bitcoin can only fulfill a fraction as a means of payment. So it's very difficult if bitcoin will replace ability dollars in financial activities.
Agree, I think it still takes a long time, and could not immediately, all countries still keep foreign reserves by USD so that if there is no State policy of course they will not replace with bitcoin. I agree and i totally think that you were right on what you have said, apparently there could be a slight chance in the future but it doesn't mean that BTC will totally dominate and replace USD as a currency, maybe a fast method of payment but not really. |
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