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UchihaRukawa
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November 01, 2017, 04:15:25 AM |
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I think its gonna happen, I mean Bitcoin replacing dollar in the market, but I dont think its gonna be that easy. There are still roo many issues to be taken into consideration, and the legalizations of bitcoin to every state. For me, bitcoin is sure to replace dollar innthe market, but its not gonna be as soon as 15 years. |
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taiwww
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November 01, 2017, 04:18:09 AM |
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US dollar is leading and ruling the world from last 70 years.
It has gained the status of world currency, get accepted in any part of the world.
Internet influenced the whole world twenty years ago and replace mail with an e-mail same things will happen bitcoins will replace US dollars.
That Bitcoin value has not only survived on a global basis for more than five years, but attracted and emerged as a strong substitute to some of the largest merchants worldwide (PayPal, Dell Computers, Dish Network, etc.)
Many nations are demising the USD as an international currency, BRICS development bank is the best example.
US dollar will lose its influence soon at that time bitcoin will be the strongest option available.
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Bennie1089
Jr. Member
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Activity: 42
Merit: 10
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November 01, 2017, 04:32:35 AM |
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I don't think so, it'll maybe play as the role of gold or financial instruments in the future but with the highest gold reserve + strong economy, America and its currency will still be unbeatable
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lordquanta
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November 01, 2017, 09:07:48 AM |
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Until now there has been no official state using bitcon, this makes bitcoin development becomes obstructed, moreover there are many countries that officially banned bitcoin, if there is assumption bitcoin replace dollar of course this will be difficult happened in a short time, and maybe need at least 50 years to replace dollar.
Bitcoin will "never" replace dollar even there will be like 50-100 years to go then it will not be enough for bitcoin to replace dollar because dollar is a currency that is already here in our world even we are not yet born and dollar is unstoppable because it is being backed by the government and the government will do anything to not let dollar disappear. Yes agree, as long as the USA with USD is still a super power it will be difficult to replace the dollar until whenever, just the opposite if bitcoin becomes a threat to the dollar then USA will destroy bitcoin. Definitely, there will be a war coming ahead between the super currencybitcoin and the current super currency dollar. US will definitely stand for dollar while all the other technical world will fight at the bitcoin’s side. So be prepare for that worst era coming along the time. Still, bitcoin will be more powerful in coming times and on the flip side, dollar is losing the value so see what happen. Fat chance of US against other technical world standing. At this stage, US is the power to reckon with in this world. Be it any trade like crude oil or gold happens only in USD. Nothing else. Unless and until USA has capability to keep the USD as the global currency other countries will have to back US. Many countries like China, UK and other have invested heavily in US bonds. Thus if USD fails these countries are in big trouble. However China is trying to get the oil trade in their own currency and that will be convertible to the gold as well. May it happen new cutting edge competition on currencies will be observed. No matter who wins the global currency title, that country will try to retain it. So if US manages to remain the number one currency it will do anything to keep bitcoin away from becoming a threat. Currently Fedwire is moving 2 trillion USD per day. Total market capital of bitcoin is around 106,484,282,091 USD. |
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Bitcoin1216
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Activity: 364
Merit: 10
Pawsome
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November 01, 2017, 09:31:56 AM |
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I think it can not be in the near future, this is because the dollar is the largest and strongest currency of the world, the dollar can control and destroy the economy of a country so I'm not sure can replace the dollar.
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kpcian
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November 01, 2017, 11:31:13 AM |
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I don't think that Bitcoin will replace Dollar very soon. The dollar is the most powerful and common currency in the world, you can use or spend dollar wherever you want. Most of the international trade and business are documented by the dollar and payment method also measured by the Dollar.
On the other hand, Bitcoin is still is not available at everywhere so, in comparison to Dollar, Bitcoin is far behind in the race. that is why I believe that Bitcoin will not be the replacement of the Dollar.
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curry101
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November 01, 2017, 11:54:55 AM |
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No! I dont think bitcoin will not replace dollar. Not all you can pay bitcoin in all place, like when you are at the market or when you are buying what you want in the street, you cant spend bitcoin on those place because they dont accept bitcoin. |
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bitgov
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November 01, 2017, 12:01:31 PM |
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To replace the dollar in the near future is certainly very difficult, I'm sure that bitcoin can not replace the dollar because of many factors that affect, for example is a decentralized issue that is difficult to accept legally.
You know, more and more people are using internet but until whole population make their lives into internet it won't come cause of elderly people. |
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Fatanut
Legendary
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Merit: 1060
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November 01, 2017, 12:47:03 PM |
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To replace the dollar in the near future is certainly very difficult, I'm sure that bitcoin can not replace the dollar because of many factors that affect, for example is a decentralized issue that is difficult to accept legally.
You know, more and more people are using internet but until whole population make their lives into internet it won't come cause of elderly people. You and I can both agree that the elderly people will soon be not in this life anymore. At some point, they will all die. Dying is inevitable. So, at some point, all of the elderly people of today will be gone and the new elderly people will be those that knows about the technology. What I'm trying to say is that in the future, the millennials will be the one who are the elderly. If that's the only problem why bitcoin will not replace dollar, then at that point bitcoin should already replace dollar but I still doubt that. Even some of the millennials are uneducated when it comes to cryptocurrencies. No! I dont think bitcoin will not replace dollar. Not all you can pay bitcoin in all place, like when you are at the market or when you are buying what you want in the street, you cant spend bitcoin on those place because they dont accept bitcoin. We have no other choice but to wait. Wait for bitcoin to become mainstream and be accepted by most merchants. Right now, people are not accepting bitcoin because they don't even have an idea what bitcoin is and so they are not using nor accepting it. "Soon" is a subjective term. What's "soon" for me might not be "soon" for you so it's really kind of hard to discuss this. Some people think of "soon" as something that will happen in a couple of years. If so, bitcoin is not going to replace dollar with just that amount of time. Bitcoin might replace dollar but not in the foreseeable future. |
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Vilagra
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November 01, 2017, 01:56:10 PM |
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15 years is a very short period. I think fiat and crypto currencies will exist and be used in parallel for many years in the future. We can only get prepared to have options then
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Bakukang
Full Member
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Merit: 100
PITCH – THE FUTURE OF OPPORTUNITY
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November 01, 2017, 01:57:30 PM |
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I think maybe not.For dollar have the stable value.And it can never replace dollar.It has the characteristic of being a stable monitary unit.It will take long time to replace such currency.
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leyton11
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November 01, 2017, 06:47:28 PM |
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15 years is a very short period. I think fiat and crypto currencies will exist and be used in parallel for many years in the future. We can only get prepared to have options then
Lol! Can you give me the long period of your opinion? I don't understand 15 years is a "very short period" of your words. If these years is the short period, why do it make you spend 2/10 your life to wait that time?  |
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Tenderino
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November 01, 2017, 06:54:54 PM |
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Do you think the FED will stop printing dollars and use Bitcoin instead? While they surely have enough money to buy all Bitcoin, what would be their the advantage by doing this? If they want to give up their dollar system then they will likely create their own crypto currency and keep control of it. The FED has only interest in things where they have the control!
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Elel
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November 01, 2017, 07:05:45 PM |
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I dont think so. In my opinion, if bitcoin is going to replace dollars, bitcoin has to be an international currency and i dont see it is possible because of its uncertainty in value value. I mean its volatility.
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geopolisch
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November 02, 2017, 05:44:45 AM |
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To replace the dollar in the near future is certainly very difficult, I'm sure that bitcoin can not replace the dollar because of many factors that affect, for example is a decentralized issue that is difficult to accept legally.
There is no way that we can make a comparison in between a crypto currency and some internationally recognized currency like that of dollar. There is no doubt that bitcoin is a very good thing and it has so many features but the thing is dollar is an international currency and is having a very good reputation in the entire world. People are using it since centuries and they think of dollar as the best currency. |
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Emitdama
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November 02, 2017, 06:38:22 AM |
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I think the government dont approved this kind of money to change. Because we use money to recognized all the heroes in our country so if bitcoin change USD the government could be banned the bitcoin if it happen. There is no reason to deny this fact that dollar is an internationally recognized currency and it is in fact the top leading currency in the world of regular currencies. It is very much difficult for bitcoin to replace dollar at least for coming 10 years. Bitcoin is no doubt a very good thing but it can only replace dollar if and only if all the governments declare it as legal currency, which is quite impossible thing. |
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ashfer
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Merit: 100
https://luxantdigitalbank.com/
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November 02, 2017, 06:51:44 AM |
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I don't think that bitcoins can replace dollar as you said because bitcoins is not just meant for one country may be there is chance for the government to introduce e-cash for their country but it does'nt mean that dollar can be replaced by btc as no government or organization has control over bitcoins and it is a decentralized platform and nobody has no idea who is doing how many number of transactions and from where to where it goes to which region so i don't think government will use btc instead of dollars as they are not able to charge any taxes for the number of transactions and the activities taking place as nobody is using their real names for trading or for investment purpose all are depending on user name and wallet id which is completely private and btc is always good as a investment and not as currency . It helps improve our financial condition.
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corybrackett
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November 02, 2017, 06:53:14 AM |
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Just his opinion about bitcoin but i dont think that will happen, fiat is something that can't be replaced cause of it's history. Things that you are using daily and it's need much time to change it. So if this happen , i think the next 100 years maybe ? |
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swordling143
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November 02, 2017, 07:14:13 AM |
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It is possible, perhaps in the future. But, not soon though. I mean dollar comes from the United States, and it is a country that is known for their influence and power. So, I highly doubt that they will give up their currency. |
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websoftwareengineer
Full Member
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Activity: 364
Merit: 100
Blockchain with VTOS energy
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November 02, 2017, 07:48:43 AM |
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To replace the dollar in the near future is certainly very difficult, I'm sure that bitcoin can not replace the dollar because of many factors that affect, for example is a decentralized issue that is difficult to accept legally.
There is no way that we can make a comparison in between a crypto currency and some internationally recognized currency like that of dollar. There is no doubt that bitcoin is a very good thing and it has so many features but the thing is dollar is an international currency and is having a very good reputation in the entire world. People are using it since centuries and they think of dollar as the best currency. Fiat currency existed without bitcoins and i think that it is not really possible for bitcoin to replace dollars. Dollars is used by different countries and bitcoin is not so its not possible for virtual currency to replace dollars. |
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