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Dudeperfect
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June 08, 2017, 10:14:08 AM |
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Still long way to go...
Dollar has huge popularity and acceptance,it can be transacted everywhere in the world,but Bitcoin is only used on the virtual world. Bitcoin is becoming a powerful currency day by day but it's not high time to compare with dollar. Bitcoin should be kept its acceptability for a long time,then people can trust easily. If its happen then Bitcoin will replace with dollar otherwise not.... Well said, I think we should build a strong offline infrastructure for making bitcoin more user friendly. People will use bitcoin only when they will find some advantage over the traditional fiat currencies. The very first issue that we should resolve is related with the transaction fees and confirmation time. In many countries, daily used things like milk, bread are available below the price of bitcoin transaction fees so why would anyone use bitcoin in that case? |
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just_Alice
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June 08, 2017, 10:30:12 AM |
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Still long way to go...
Dollar has huge popularity and acceptance,it can be transacted everywhere in the world,but Bitcoin is only used on the virtual world. Bitcoin is becoming a powerful currency day by day but it's not high time to compare with dollar. Bitcoin should be kept its acceptability for a long time,then people can trust easily. If its happen then Bitcoin will replace with dollar otherwise not....
That's not true. There are many places in the world, in the real world, where you can pay with BTC and get some services. On May 22, 2010, when those famous two pizzas were bought for 10k BTC, bitcoin had ceased to be a currency used in the virtual world only. |
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deisik
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June 08, 2017, 10:52:19 AM
Last edit: June 08, 2017, 11:12:28 AM by deisik |
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15 years is not enough to replace the dollar, it takes forever to replace it (means there is no such thing ) and it will never be true, yes bitcoin is getting famous but its for the meantime don't expect too much at the bitcoin because you may not know what will happen. Don't rush things.think wisely. and always remember that dollar is only the payment transaction tool and nothing else. Dollar is more safer than bitcoin because bitcoin it might cause a problem like hacking incidents and security threats that may the fund be loss I agree on the whole with your view That said, you are still looking at only one side of the coin. But it has two sides as well as an edge. More specifically, you mean that it is Bitcoin which should actively aim at substituting the dollar. So you seem to implicitly assume that the dollar itself will exist forever. In fact, it may well do, though some folks here are very vocal in voicing their disagreement with that outlook. Anyway, we should not completely exclude the possibility of the American dollar dying on its own one day. In this way, Bitcoin may replace the dollar without ever doing anything on its own |
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ariie
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June 08, 2017, 12:41:43 PM |
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I believe in that, quite positively if bitcoin prices will soar 15 next year ..
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Wapfika
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June 08, 2017, 01:02:09 PM |
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I believe in that, quite positively if bitcoin prices will soar 15 next year ..
It may happen in the future since bitcoin been so popular and adopt by many countries. |
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Lorence.xD
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June 08, 2017, 01:05:35 PM |
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I think by that statement the bitcoin will never replace the fiat because we will always need the fiat because market in the outside world is that is the medium of exchange and bitcoin cannot replace that because the bitcoin need gadget and internet to access with so I think with that bitcoin cannot replace the fiat.
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shine1123
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June 08, 2017, 01:17:33 PM |
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I believe in that, quite positively if bitcoin prices will soar 15 next year ..
Nah, even the bitcoin price will soar on 15 next year, Dollar also become popular in the same year. I think we can't compare bitcoin with dollar. All people know dollar and dollar being used in real life and online too. In the other hand we only use bitcoin at online. Bitcoin need to become popular first at least. |
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marcuslong
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June 08, 2017, 01:23:56 PM |
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I believe in that, quite positively if bitcoin prices will soar 15 next year ..
It may happen in the future since bitcoin been so popular and adopt by many countries. Butcoin will never replace dollar even years comes it will remain bitcoin and it will remain currency that can use around internet it will be the new generation however it will use to physical but not totaly it will also use in other thing like ahopping etc. |
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Kisanaq
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June 08, 2017, 02:00:18 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. Yeah right, I'm not sure bitcoin can replace the dollar soon, this is because the dollar is the world's premier currency for transactions, it is not easy to change the dollar with bitcoin let alone bitcoin users no more than 5%. |
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Wapfika
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June 08, 2017, 02:02:53 PM |
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I believe in that, quite positively if bitcoin prices will soar 15 next year ..
It may happen in the future since bitcoin been so popular and adopt by many countries. Butcoin will never replace dollar even years comes it will remain bitcoin and it will remain currency that can use around internet it will be the new generation however it will use to physical but not totaly it will also use in other thing like ahopping etc. Todays world revolve around technolgy but dollar already proven its capability and btc have its own trend so they are both needed. |
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malami
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June 08, 2017, 02:08:59 PM |
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I believe in that, quite positively if bitcoin prices will soar 15 next year ..
It may happen in the future since bitcoin been so popular and adopt by many countries. Butcoin will never replace dollar even years comes it will remain bitcoin and it will remain currency that can use around internet it will be the new generation however it will use to physical but not totaly it will also use in other thing like ahopping etc. Todays world revolve around technolgy but dollar already proven its capability and btc have its own trend so they are both needed. Thats the thing a lot of especially the hardcore bitcoiners think fiat currencies are going to be gone in some years but few of them are looking at it objectively. In reality fiat has its uses as does bitcoin and neither is can replace the other. |
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wuvdoll
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June 08, 2017, 05:19:50 PM |
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Nope. I very doubt government will want to relinquish control... As a sub currency it could gain mainstream use but i think there will be much blood before BTC replace the Dollar. Dollar has a very great influence in the global market really. Bitcoin on the other hand is unstable so most people and companies would prefer dollar. Let's just say that dollar and bitcoin has its own respective uses. In real life uses, dollar or other fiats will be used dominantly especially in making transactions since what you pay is the actual price unlike Bitcoin which the price set to the deal would change its value at the time of the payment. In digital world, bitcoin or other cryptocurrencies are suitable for transactions in this world since it is the most convenient thing to do. Also it is much suitable to use in paying services offered online. Yeah we cannot deny the truth about the dollar that it is the most trusted and preferred currency in the world. When we compare the Bitcoin and the dollar we set aside the truth about the dollar that it is backed by the strongest economy of the world and it has the power of the USA on its back. The Bitcoin don’t have any such facility for it to make it that much favourite that the world’s largest economies prefer it instead of the dollar. |
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doomloop
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June 08, 2017, 08:02:54 PM |
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Bitcoin can not replace the dollar and will never be a tool for exchange of goods and services, can you imagine when you buy pizza using bitcoin, when bitcoin prices go up twice or ten times whether you will pay the same bitcoin? Bitcoin prices can change dramatically in just minutes and hours
yes that is right, bitcoin cannot replace dollar so soon, but in future it is really possible. when bitcoin will become too much popular and when all the people of the world start accepting bitcoin. but I think it will take a lot of time because the users of bitcoin are still negligible. yes you are right bitcoin cannot replace dollar unless it is known by all the people in the world as dollar is known by even a child, that what is dollar he knows that dollar is an international currency but bitcoin is not known by all the people its popularity is not too much, however in future it is possible because the world is now adopting the technology as bitcoin is new technology and hope that in future it will be known by all the people. |
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djgtr
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June 08, 2017, 08:43:57 PM |
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I think it will never replace dollar, because bitcoin isn't yet capable to have the best way to replace dollar. It requires more people to adopt the system and start to use it. If it can possibly replace dollar, well with this way it takes too long process and bitcoin needed to move a long journey that would rather in a span of 15 to 20 years. We don't know yet when it will be possible, but if we continue to use bitcoin and price will be more stable; I guess that possibility would come to a reality bitcoin will replace dollar in the future.
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Superways
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June 08, 2017, 09:15:22 PM |
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Still long way to go...
Dollar has huge popularity and acceptance,it can be transacted everywhere in the world,but Bitcoin is only used on the virtual world. Bitcoin is becoming a powerful currency day by day but it's not high time to compare with dollar. Bitcoin should be kept its acceptability for a long time,then people can trust easily. If its happen then Bitcoin will replace with dollar otherwise not....
That's not true. There are many places in the world, in the real world, where you can pay with BTC and get some services. On May 22, 2010, when those famous two pizzas were bought for 10k BTC, bitcoin had ceased to be a currency used in the virtual world only. I agree with your points because I also have heard from different people that in their places bitcoin is being used for different offline things so it mean that bitcoin has started to be a currency competitive to dollar and on internet it is already getting bigger than dollar because on internet many people now like to use bitcoin. |
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Ewinsane
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June 08, 2017, 11:21:30 PM |
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I think BTCitcoin will not replace dollar Because the government will be difficult to control the transaction bitcoin users. As we know users who make transactions using Bitcoins can not be traced.  please Correct me if I'm wrong. thanks Yes I agree, there are pros and cons of everything and the bitcoin also have some. One of the most common factors that the government will not follow is the anonymity of the user. Realistically it is not possible for the government to allow any such transaction on a large scale because the governments have to look for many things. This is the point where conflict arises in the stance of the Government and the Bitcoin. |
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just_Alice
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June 09, 2017, 09:23:16 AM |
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Still long way to go...
Dollar has huge popularity and acceptance,it can be transacted everywhere in the world,but Bitcoin is only used on the virtual world. Bitcoin is becoming a powerful currency day by day but it's not high time to compare with dollar. Bitcoin should be kept its acceptability for a long time,then people can trust easily. If its happen then Bitcoin will replace with dollar otherwise not....
That's not true. There are many places in the world, in the real world, where you can pay with BTC and get some services. On May 22, 2010, when those famous two pizzas were bought for 10k BTC, bitcoin had ceased to be a currency used in the virtual world only. I agree with your points because I also have heard from different people that in their places bitcoin is being used for different offline things so it mean that bitcoin has started to be a currency competitive to dollar and on internet it is already getting bigger than dollar because on internet many people now like to use bitcoin. Apart from that half of the world's population have no internet access, it's not enough to have it for knowing bitcoin. People are busy with many other things neglecting bitcoin related topics. Hopefully this will change for good in the future. |
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Blamsud
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June 09, 2017, 09:46:13 AM |
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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 Dollar were considered as a basis of fiats value and it does prove its name. Bitcoin will have its own name or use better than dollar,but dollar will be keep on their. |
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choppork
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June 09, 2017, 01:19:38 PM |
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Bitcoin can not replace the dollar and will never be a tool for exchange of goods and services, can you imagine when you buy pizza using bitcoin, when bitcoin prices go up twice or ten times whether you will pay the same bitcoin? Bitcoin prices can change dramatically in just minutes and hours
yes that is right, bitcoin cannot replace dollar so soon, but in future it is really possible. when bitcoin will become too much popular and when all the people of the world start accepting bitcoin. but I think it will take a lot of time because the users of bitcoin are still negligible. yes you are right bitcoin cannot replace dollar unless it is known by all the people in the world as dollar is known by even a child, that what is dollar he knows that dollar is an international currency but bitcoin is not known by all the people its popularity is not too much, however in future it is possible because the world is now adopting the technology as bitcoin is new technology and hope that in future it will be known by all the people. A kid knows about dollars because America is a dominant country. Most people know America. We all think that the lives of Americans are all better than ours. There's even a term called the "American dream". But that's all besides the point, my point is that America is a dominant country, right? So, what is the currency that they are using? Dollars. That's why most people know about dollars. I'd like to disagree that dollar is an international currency at all since it's not accepted everywhere. There are countries that are friendly with major foreign currencies but most countries aren't. You'd have to convert your dollars first to their local currency before you can spend it. Just like how you'd spend bitcoin in that place. |
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Theb
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June 09, 2017, 02:51:09 PM |
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I strongly doubt that this scenario will ever happen. Why? Because cryptocurrency is a currency by no country, meaning it is not regulated by any government. Being a decentralized currency will have a hard time being recognized as an official currency of a country. Also its really not matter of time because it will never really happen.
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