Do You Think Bitcoin Will Replace Dollar Soon?

[Sled]

If bitcoin gets on the mainstream and if it survives for next 20 years then there are possibilities that it will replace dollar soon, but for that bitcoin need to be more popular, and it should be widely used and widely accepted.

Before saying that, you should consider the supply of bitcoin first because if we will not have the right amount of supply of bitcoin for all of the people then the volatility will occur more often and that is a huge problem for the overall world's economy because people will get confused and mad if they will buy something that is expensive and after a few hours, the price drop.

[pinoyden]

If bitcoin gets on the mainstream and if it survives for next 20 years then there are possibilities that it will replace dollar soon, but for that bitcoin need to be more popular, and it should be widely used and widely accepted.

Before saying that, you should consider the supply of bitcoin first because if we will not have the right amount of supply of bitcoin for all of the people then the volatility will occur more often and that is a huge problem for the overall world's economy because people will get confused and mad if they will buy something that is expensive and after a few hours, the price drop.

bitcoin supply is too big to be easily mined up therfor i think it will still go a long run and if ever all of the bitcoin has been mined then devs of bitcoin will always find a way to supply or extend it again in order for us to use. but i think bitcoin cant still replace the dollar or any other local currency because bitcoin is just a digital and does not have a physical form , so that simply means not all people can posaibly use it without internet.

[Hirameki]

No. Definitely no, lets separate bitcoin from dollars or any other currencies, cause bitcoin is also a currency, but an online currency, i think we all should enjoy what bitcoins offers to us right now, we shouldnt be expecting too much for bitcoin, i mean, its there, its ok, everything is going ok. Lets just bitcoin what bitcoin is. Try not to compare it to other currency.

[Abiky]

Not a chance, for me bitcoin is not going to replace dollar because bitcoin price is not stabled the volatility is too high and besides not all the people know the existence of bitcoin so it is impossible to replace dollar. Ideally bitcoin is another type of currency and another way of mode of payment.

Exactly. It quite hard to say that Bitcoin will replace the Dollar anytime soon as it is extremely volatile making you either rich or poor in an instant. The instability of Bitcoin only makes it useful as a store of value or investment, rather than real digital cash. Also, it is decentralized which is against banks and governments' philosophies. In the end, both cryptocurrencies and fiat currencies like the Dollar will co-exist leaving people with many options at their disposal. Whenever they want stability and trust in their payments, they'll use the Dollar. And, when they want to increase their capital and preserve their value for the long term, they'll use Bitcoin.

Despite all of this, Bitcoin may replace Gold instead of the Dollar. That is because it is very limited in supply, has a deflationary model, and many properties we know and love about Gold. Best of all, it's portable (unlike Gold) allowing you to carry your Bitcoins with you in small places you've never thought about all around the world. Just my thoughts

[andrino]

Bitcoin will never replace the dollar.

This is very difficult, bitcoin will never replace the dollar because the dollar is the world's strongest currency, it takes up to 100 years to replace the dollar, let alone the dollar is the currency of the super power state.

I believe so, it was developed for almost 100 of years to dollars. Bitcoin is just in the beginning of take of to place and another places. It will not be easy to change dollar by bitcoin. Today's happening is bitcoin change to dollar. I think if dollar will be replace by bitcoin there will be a massive rally to stop it or not to favor. This is a big issue to tackle coz this is all about America and other countries that supported dollars. This will be a huge discussion of they will try it to move or just a dry run to see what will be the result. Incase it will happen a big change and adjustment is on the air to everybody.

[tendor]

The value of Bitcoin maybe be higher per dollar, but it's unlikely for it to replace the existence of the dollar / fiat money. The dollar or fiat money in general is still very widely used and very hard to deprecate.

[Jose Mourinho]

The value of Bitcoin maybe be higher per dollar, but it's unlikely for it to replace the existence of the dollar / fiat money. The dollar or fiat money in general is still very widely used and very hard to deprecate.

Many things and transactions that can not use bitcoin, the main weakness of bitcoin is internet dependent, and we all know that more than 60% of the world's population does not understand the internet, whereas they know the dollar so it is impossible to replace the dollar with bitcoin.

[19Nov16]

I think it is difficult to happen in the near future, this is because the dollar is a currency that is used by all countries in the world for transactions, besides the dollar is fully supported by the strongest country so replacing the dollar with bitcoin looks impossible.

[Trela]

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?

I don't think it will be true. The first point is, in 15 years, the world can't replace all the things that needs traditional money by "Bitcoin accepted here", the way to do it is really far and impossible to be done in just 15 years. The second point is, if the governments want to replace traditional money by a kind of "digital money", it won't be bitcoin because they cannot control bitcoin so that they don't want to use bitcoin as their main currency for sure.

That is right, the government are not stupid, they will not use a currency they can not control. Of course, they need to learn the knowledge about blockchain from Bitcoin and other cryptocurrencies to improve their currency before release it. And they can not ban Bitcoin after release new currency, because it can be affected the cryptocurrency community in the future many much.

[snowwyjonny]

It will unlikely to happen, for bitcoin is a very wide currency on which no one can fully understand them. Controlling them would be hard too, just like for example its value it is very volatile and comtinuosly fluctuating, thus the government would not be happy about it. So I think it will unlikely to happen, or maybe it will take more more years to happen.

[Man From The Future]

I think it's very impossible. Bitcoin (BTC) is only speculation for now on because there are no services exchanged in BTC that stays BTC. They are all converted to dollar ($).

[Farma]

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?

I don't think it will be true. The first point is, in 15 years, the world can't replace all the things that needs traditional money by "Bitcoin accepted here", the way to do it is really far and impossible to be done in just 15 years. The second point is, if the governments want to replace traditional money by a kind of "digital money", it won't be bitcoin because they cannot control bitcoin so that they don't want to use bitcoin as their main currency for sure.

That is right, the government are not stupid, they will not use a currency they can not control. Of course, they need to learn the knowledge about blockchain from Bitcoin and other cryptocurrencies to improve their currency before release it. And they can not ban Bitcoin after release new currency, because it can be affected the cryptocurrency community in the future many much.

but I feel that bitcoin simply can not replace the dollar. so many controversies are taking place in each country. even countries that receive bitcoin, only see bitcoin as an investment tool and technology development, not as currency. before bitcoin is recognized as currency in all countries, then bitcoin will never replace the dollar.

[Bacotan Bae]

I think it's very impossible. Bitcoin (BTC) is only speculation for now on because there are no services exchanged in BTC that stays BTC. They are all converted to dollar ($).

Agree, and I'm sure forever bitcoin can not replace the dollar even though someday the price of 1 satoshi = $ 1, bitcoin is not officially supported like dollar, so bitcoin will be a secondary currency.

[alexmuro]

Maybe possible that Bitcoin will be replaced fiat in a matter of years and discovery of the people  to this virtual currency.
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In my own perception, it is not possible that it will replace the dollar since it is just a digital currency and an  alternate of money. How business people know its real value if dollar is crashed or replaced? Maybe it would only replace fiat or any altcoins but not a dollar.

[Henry Sy]

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?

I do not think so. But it can just be possible that Bitcoin can be alike dollars in a way that in terms of being a cryptocurrency, Bitcoin will be the leading one while on the real currency, Dollars will be the one on it. It will not be possible that a virtual currency will replace a real currency because even if it was fast rising, still people relies on the existence of real currency and they are only accepting the fact that this currency is just the one to be useful and true. So what will happen on this will be just Bitcoin for virtual and Dollars for real.

[balanza96]

Well, Bitcoin has already replaced the dollar in the cryptosphere, since it has been showned that the cryptocurrency prices are independent of the value of the dollar.

[james1009]

Dollar is very popular currency I mean it is widely used and everyone knows about it and used it it somehow, when Biticoin replace it I think it is possible through time, maybe decades from now we'll use biticoin instead of the dollar.

[joy90009]

The dollar is so populair in the most country so I don't think it will replace ever and a lot of people use dollars. They understand what dollar is a real money.

[jessica9009]

Yes I think the dollar will be replaced by the bitcoin but it will take some time and the bitcoin needs to get bigger.

[Tagabukid69]

Dollar is already a strong currency, and i don't think dollar would replaced by bitcoin and other type of cryptocurrency, because in cryptocurrency  the value is constantly change, Its unpredictable depends on supply and demand whereas in dollar has its fixed value. Its impossible those things happen..