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yoseph
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January 30, 2017, 05:20:02 PM |
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There is no way bitcoin can replace fiat, The governments of the world would never allow that, they want something that they can control and bitcoins is not one of those. The anonymity also possess a problem since it can be easily laundered and can be used to fund terrorism.
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The forum strives to allow free discussion of any ideas. All policies are built around this principle. This doesn't mean you can post garbage, though: posts should actually contain ideas, and these ideas should be argued reasonably.
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finity
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January 30, 2017, 08:32:20 PM |
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There is no way bitcoin can replace fiat, The governments of the world would never allow that, they want something that they can control and bitcoins is not one of those. The anonymity also possess a problem since it can be easily laundered and can be used to fund terrorism.
That's true and no Government wants that their national currency should get replaced by any digital currency and for the same reason they are not standing in support of bitcoins and as Government doesn't support bitcoins it makes many people to think about the credibility of bitcoins and avoids to start using it as a currency or as an investment. |
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lol3c
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January 31, 2017, 07:37:24 AM |
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This wont happen, we can change into digital era and bitcoin wont be replacing any currencie, thats a fact bitcoin does have limits, and once the halvings ends as well the mines, we will see a market off demand and supply, if people keep using bitcoin it might get an amazing value but we wont be here to see what will happen with bitcoin.
It's not going to happen as bitcoin a decentralized crypto the governing body of government that is assigned for the financial matters is going to be subject into this replacement. A lot of matters before a country can replace its fiat there are even some paper money that are related to the history of their nation and that's a matter of sentimental where it's hard to be replaced. well, what if there are no government? What if more and more people use Bitcoin instead of Fiat? What will the government do to prevent Bitcoin from being used widely? The government will definitely collapse if the number of Bitcoin users in the country is higher than 90%. And as you can see, we can still have a good life if there is no government on this planet |
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markyminer
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January 31, 2017, 03:15:55 PM |
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The fiat system can easy eat bitcoin, and bitcoinc cant be traded against all fiat, even if the price double or more, be sure that bitcoin is an extra currencie with a lot of potencial to grow over time, currently the best way to make money is crypto currencies.
Fiat will be always be used by countries and there is nothing showing they are going to invest into crypto world soo soon, besides China that seems to be testing already this model.
Sorry I dissagree with you, a lot of people in several countries were exchange their currencies to the USD and bitcoin because the value of their currencies down so far. This showed that fiat is not always fit for us. I think fiat will be replaced by something better. I agree fiat will be replace by electronic money but not Bitcoin.  I believe the each country will have their own digital currency base on the fiat money model which means centralized and regulated by the government.  Bitcoin may had been popular but it does not even scale to the level where 50% of world population is using it.  Far from that percentage is where bitcoin at this point. If what you are telling of each country have their own digital currency then their is no difference between fiat currency and digital currency.  I dont think that this way of coins will be success. Bitcoin will be the superior power. Bitcoin is the superior power holding coin for all the digital currency. As said this way of digital coins won't be much popular based upon the features. Bitcoin and fiat varies much, and the major difference is the anonymous nature. Believe this will be successful. no doubt that bitcoin is one of the most popular and superb digital currency of the world. but i think we should not compare it with fiat ie USD. because USD is a centralize currency, and is not a digital currency, therefore i do not think that there is any concern of bitcoin with any fiat currency either it is USD or any other currency. |
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choppork
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January 31, 2017, 03:23:27 PM |
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This wont happen, we can change into digital era and bitcoin wont be replacing any currencie, thats a fact bitcoin does have limits, and once the halvings ends as well the mines, we will see a market off demand and supply, if people keep using bitcoin it might get an amazing value but we wont be here to see what will happen with bitcoin.
It's not going to happen as bitcoin a decentralized crypto the governing body of government that is assigned for the financial matters is going to be subject into this replacement. A lot of matters before a country can replace its fiat there are even some paper money that are related to the history of their nation and that's a matter of sentimental where it's hard to be replaced. well, [1]what if there are no government? [2]What if more and more people use Bitcoin instead of Fiat? [3]What will the government do to prevent Bitcoin from being used widely? The government will definitely collapse if the number of Bitcoin users in the country is higher than 90%. And as you can see, we can still have a good life if there is no government on this planet 1. Then people would be the same as those people in the movie "The Purge". There's no laws and regulations since there's no government so we would all be killing each other for simple reasons. We might even not use both bitcoin and fiat at that point because survival stuffs will be the only valuable thing on Earth. 2. Bitcoin would increase in price and those people that are using fiat at those point would start using bitcoin as well. People would do nothing but to adapt to their environment. 3. Desperately ban it. If they can't ban it by using laws, they would just create fake humours about it and the people that believes every thing on the news would be discouraged to use bitcoin. And so would the other bitcoin users. The only ones that would remain are those that fully understand bitcoin. |
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deisik
Legendary
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Activity: 3444
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English ⬄ Russian Translation Services
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February 01, 2017, 04:06:52 PM |
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This wont happen, we can change into digital era and bitcoin wont be replacing any currencie, thats a fact bitcoin does have limits, and once the halvings ends as well the mines, we will see a market off demand and supply, if people keep using bitcoin it might get an amazing value but we wont be here to see what will happen with bitcoin.
It's not going to happen as bitcoin a decentralized crypto the governing body of government that is assigned for the financial matters is going to be subject into this replacement. A lot of matters before a country can replace its fiat there are even some paper money that are related to the history of their nation and that's a matter of sentimental where it's hard to be replaced. well, what if there are no government? What if more and more people use Bitcoin instead of Fiat? What will the government do to prevent Bitcoin from being used widely? The government will definitely collapse if the number of Bitcoin users in the country is higher than 90%. And as you can see, we can still have a good life if there is no government on this planet The government will certainly not collapse even if the number of Bitcoin users exceeds 100% This is a metaphor only, no need to come up with rebuttals, though I overall agree that the government will lose much if not all of its current financial power over the population. Why am I so sure of that, namely, that it won't collapse? In the past, when there was no fiat yet (and that was in fact for many millenia), gold and silver coins were used as a means of payment (and payment of taxes as well), and the rulers mostly accepted taxes in any coin at that, at least as long as it was made of pure gold. But Bitcoin is not particularly different from gold in respect to its independent existence and being not controllable by any government. World empires (e.g. Roman Empire) had existed by far longer than fiat itself has been around, therefore there is no reason to think that Bitcoin alone could somehow trash the government |
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jak3
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February 01, 2017, 04:21:20 PM |
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i agree with op bitcoin has a great potentiality and gold also have some how and some what same potentiality just the differences the gold is an physical asset and bitcoin is the virtual asset, we also saw that bitcoin's price is more violent and profitable than gold of course you will get the slow stokes too if you plan for a long term investment plan with gold because gold is somehow predictable but bitcoin is not
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joshy23
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February 01, 2017, 05:31:50 PM |
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Bitcoin for me will not replace fiat but they can co-exist together. As long as there are governments, there will be fiat money in some form or another. There is no way a government will give up it’s monetary policy.
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Viscore
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February 02, 2017, 01:06:55 AM |
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Bitcoin for me will not replace fiat but they can co-exist together. As long as there are governments, there will be fiat money in some form or another. There is no way a government will give up it’s monetary policy.
That is more wonderful to hear, I guess no one would want to see only bitcoin will be our currency and we will not longer gonna use fiat. Life would be hard then although it's fast online, majority of things we need are not purchase online. |
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JANGKRIK BOSS
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February 02, 2017, 02:55:35 AM |
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Bitcoin for me will not replace fiat but they can co-exist together. As long as there are governments, there will be fiat money in some form or another. There is no way a government will give up it’s monetary policy.
Obviously it's impossible to replace, if side by side certainly can, but there will always be "war" because these two types of impossible to walk along, there will be a way to win one of them, for the moment I think fiat money is still superior. |
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shapeshiftscam
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February 02, 2017, 03:06:04 AM |
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Why do you guys insist bitcoin's target is to replace fiat? Why bitcoin can't be existing along with fiat? Or be the alternative cureency of fiat? Bitcoin and fiat is not the combination of black&white, evil&righterous, they can be bros, fiat is bigger brother, and bitcoin is smaller brother, they are family and co-exist and help mutually.
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Kasabus
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February 02, 2017, 03:43:53 AM |
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Why do you guys insist bitcoin's target is to replace fiat? Why bitcoin can't be existing along with fiat? Or be the alternative cureency of fiat? Bitcoin and fiat is not the combination of black&white, evil&righterous, they can be bros, fiat is bigger brother, and bitcoin is smaller brother, they are family and co-exist and help mutually.
Because they want to be rich, imagine if bitcoin will replace fiat and we have a limit supply. Even if we are just holding at least BTC1, I believe we could be millionaire already. That's crazy, right? I don't think this fantasy will happen, we will never gonna see this and not even if bitcoin will be very popular. |
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shapeshiftscam
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February 02, 2017, 04:01:03 AM |
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Why do you guys insist bitcoin's target is to replace fiat? Why bitcoin can't be existing along with fiat? Or be the alternative cureency of fiat? Bitcoin and fiat is not the combination of black&white, evil&righterous, they can be bros, fiat is bigger brother, and bitcoin is smaller brother, they are family and co-exist and help mutually.
Because they want to be rich, imagine if bitcoin will replace fiat and we have a limit supply. Even if we are just holding at least BTC1, I believe we could be millionaire already. That's crazy, right? I don't think this fantasy will happen, we will never gonna see this and not even if bitcoin will be very popular. Thanks, your view looks legit, people who invest bitcoin want to make huge profits, but we need to be more realistic, millionaire for 1 bitcoin? It is unbelievable, I prefer bitcoin can be 10k USD at maximum price. Which is already very exciting, now we are almost 1k USD. There is 10X in 2020 is my estimation. We will be very wealthy, no doubt. |
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naidray
Legendary
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Activity: 1232
Merit: 1029
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February 02, 2017, 04:49:50 AM |
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This wont happen, we can change into digital era and bitcoin wont be replacing any currencie, thats a fact bitcoin does have limits, and once the halvings ends as well the mines, we will see a market off demand and supply, if people keep using bitcoin it might get an amazing value but we wont be here to see what will happen with bitcoin.
It's not going to happen as bitcoin a decentralized crypto the governing body of government that is assigned for the financial matters is going to be subject into this replacement. A lot of matters before a country can replace its fiat there are even some paper money that are related to the history of their nation and that's a matter of sentimental where it's hard to be replaced. well, what if there are no government? What if more and more people use Bitcoin instead of Fiat? What will the government do to prevent Bitcoin from being used widely? The government will definitely collapse if the number of Bitcoin users in the country is higher than 90%. And as you can see, we can still have a good life if there is no government on this planet Well, first we can never get rid of governments, they are the only thing that is keeping order, with no order people will not be safe, as for the bitcoin taking over fiat that will never happen because the governments provide us with services and with food and the way to pay them is with fiat not with bitcoin, and if people start using bitcoin more and more that will only make it being used as a part of payment not taking over and governments have nothing to do with it. |
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cakravothy
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February 02, 2017, 04:50:03 AM |
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cakculation total bitcoin only 21 million coin, if you want replace bitcoin to replace fiat money in the world
example total people in the world 5 billion people, so every one people only have bitcoin , 0.0042 , 420k satoshi, so how can transaction in real life, if every one people average only have 420k satoshi
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diegz
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February 02, 2017, 04:59:33 AM |
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cakculation total bitcoin only 21 million coin, if you want replace bitcoin to replace fiat money in the world
example total people in the world 5 billion people, so every one people only have bitcoin , 0.0042 , 420k satoshi, so how can transaction in real life, if every one people average only have 420k satoshi
That's not going to be exactly like that, some might have and some might not have, some might have so many bitcoin. It will not be evenly distributed that's for sure and not to mention that we will not be having a reserve just in case. All I could say is bitcoin will be a great and good choice if we will be given a chance to choose what money we are going to hold, too bad that it is not going to happen and if it does, it will be many years from now. |
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Bitcoin0916
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February 02, 2017, 09:34:59 AM |
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cakculation total bitcoin only 21 million coin, if you want replace bitcoin to replace fiat money in the world
example total people in the world 5 billion people, so every one people only have bitcoin , 0.0042 , 420k satoshi, so how can transaction in real life, if every one people average only have 420k satoshi
Good opinion, it depends of the bitcoin price, if the price of 1 satosi equals $1,000, I think the stock of bitcoin is enough, but we are afraid of is the issue of ownership is not spread evenly, if bitcoin on the dominance of a person or entity, then the other people does not have bitcoin, this is to be a serious problem. |
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Theb
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February 02, 2017, 02:20:58 PM |
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cakculation total bitcoin only 21 million coin, if you want replace bitcoin to replace fiat money in the world
example total people in the world 5 billion people, so every one people only have bitcoin , 0.0042 , 420k satoshi, so how can transaction in real life, if every one people average only have 420k satoshi
Good opinion, it depends of the bitcoin price, if the price of 1 satosi equals $1,000, I think the stock of bitcoin is enough, but we are afraid of is the issue of ownership is not spread evenly, if bitcoin on the dominance of a person or entity, then the other people does not have bitcoin, this is to be a serious problem. Even if 1 satoshi is equal to a dollar each it won't be a factor of replacing fiat money. The idea that Bitcoin can be controlled by people outside of the government won't make it possible. Because if you think it this way if rich people hoarded Bitcoin it would create big imbalances to the society because the supply will be currently less available to the market. Also the idea that people can mine Bitcoin without the government will make it more alarming to them. |
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deisik
Legendary
Offline
Activity: 3444
Merit: 1280
English ⬄ Russian Translation Services
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February 03, 2017, 07:20:06 AM |
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cakculation total bitcoin only 21 million coin, if you want replace bitcoin to replace fiat money in the world
example total people in the world 5 billion people, so every one people only have bitcoin , 0.0042 , 420k satoshi, so how can transaction in real life, if every one people average only have 420k satoshi
Good opinion, it depends of the bitcoin price, if the price of 1 satosi equals $1,000, I think the stock of bitcoin is enough, but we are afraid of is the issue of ownership is not spread evenly, if bitcoin on the dominance of a person or entity, then the other people does not have bitcoin, this is to be a serious problem. . The idea that Bitcoin can be controlled by people outside of the government won't make it possible. Because if you think it this way if rich people hoarded Bitcoin it would create big imbalances to the society because the supply will be currently less available to the market. Also the idea that people can mine Bitcoin without the government will make it more alarming to them. It may or may not be a (contributing) factor Though the price itself doesn't mean much in this respect, it still shows the degree of Bitcoin adoption. And this adoption is objective, i.e. it doesn't particularly depend on what the government may think (or anyone else specifically, for that matter), and Bitcoin is in a sense objective money. Unlike fiat, no one forces to use it, so its use and spread is fully determined by its advantages as well as disadvantages. So fiat is made to compete with Bitcoin on Bitcoin's terms (i.e. free market terms), and the outcome of this competition is not "set in stone" either |
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Mr.grin
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February 03, 2017, 08:08:19 AM |
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I thought, until whenever, bitcoin will not be able to replace fiat. people are familiar with fiat, and even the community was not too familiar with the bitcoin. need special teaching to make them familiar with bitcoin. although bitcoin can replace fiat, I'm sure it only happens in countries in crisis, and it is also true for a while.
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