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sheldonnnn
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November 16, 2017, 09:08:56 AM |
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Of course, Bitcoin can not replace fiat. Because Bitcoin is not widespread so far, not all shops and restaurants accept Bitcoin. Of course Bitcoin is becoming more and more popular today. But many people still know nothing about Bitcoin. In addition, Bitcoin and Fiat have different functions so fiat will still exist in the future.
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Saveplus
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November 16, 2017, 09:16:03 AM |
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Yes, got you intrigued, didn't it?
Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.
Bitcoin is like fiat that we need everyday.For now bitcoin cannot exist by fiat it has a long process to do,to change into digital currency.But I know bitcoin has a brighter future for currency as time goes by, it will implement using it to pay it in the restaurant ,coffee shop or shopping mall just like what you said.Bitcoin is like gold and has a value that cannot be depreciated unlike fiat there are terms or years to change the paper money and lost its value. |
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ASICHEAD
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November 16, 2017, 01:55:22 PM |
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Yes, got you intrigued, didn't it?
Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.
Bitcoin is like fiat that we need everyday.For now bitcoin cannot exist by fiat it has a long process to do,to change into digital currency.But I know bitcoin has a brighter future for currency as time goes by, it will implement using it to pay it in the restaurant ,coffee shop or shopping mall just like what you said.Bitcoin is like gold and has a value that cannot be depreciated unlike fiat there are terms or years to change the paper money and lost its value. The future of Bitcoin will not depend on the government. You also know the government do not like Bitcoin, almost the government all want to control or limits the growth of Bitcoin and cryptocurrency. But the fact, there are many speculators made the price of Bitcoin increases crazy, the growth of Bitcoin affected the infuence of other markets, currencies and other fields ... include the profits of the government. |
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Bacotan Bae
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November 16, 2017, 03:01:32 PM |
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Of course, Bitcoin can not replace fiat. Because Bitcoin is not widespread so far, not all shops and restaurants accept Bitcoin. Of course Bitcoin is becoming more and more popular today. But many people still know nothing about Bitcoin. In addition, Bitcoin and Fiat have different functions so fiat will still exist in the future.
The main factor that makes bitcoin can not replace fiat is legality and guarantees, until now there is no official government guarantee, so if at any time bitcoin price equal to $ 1 per btc it will create a new mess. and this is what bitcoin is not possible to use officially. |
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Clairvoyance
Full Member
 Offline
Activity: 412
Merit: 152
Perceiving events in the future and beyond
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November 16, 2017, 03:53:45 PM |
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As of the moment fiat is the main factor on how markets operate. As soon as the economy adopts digital currency as its main form of payment then fiat will be a thing in the past.
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Rashid555
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November 17, 2017, 06:29:26 AM |
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I think bitcoin as itself good money and highly popular in the crypto world the other currencies like fiat are also good to use because the bitcoin is not implemented everywhere. In a broad sense if we think about bitcoin we will come to know that fiat currency is applicable and accepted everywhere while in the case of bitcoin it is used by the literate people and the users are highly young involved in this currency.
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Pakboy
Full Member
Offline
Activity: 195
Merit: 100
"Proof-of-Asset Protocol"
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November 17, 2017, 06:40:01 AM |
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I believe that the bitcoin has a bright future but I don't believe that bitcoin will replace fiat. I think it is impossible even though the bitcoin is now adapting by the merchants. Bitcoin can't replace fiat money.
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fuer44
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November 17, 2017, 06:44:47 AM |
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Yes, got you intrigued, didn't it?
Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.
Yes youre on point. Heres the thing, Bitcoin cannot replace fiat because.. Btc value only depends on another currency's existence which we call it "fiat". Bitcoin in reality is not a money. Bitcoin only provides a transfer function, wether its a payment for a service, or a payment for a product. We invest btc with the hopes to pump up its value right? We use fiat money to invest, some get it from services like campaigns, faucets, blogs, etc. But at the end of the day when the Btc value met or exceed our expectations, we exchange it for fiat. So, how can Btc replaced fiat in these case. Can Btc creates its own value without depending in another form of currency? Yes, btc has a lot of good features than fiat in some cases but simply cannot replace fiat. yes, I really agree with you. the reason is quite simple, how can digital currency replace fiat? I will also add a little bit of my opinion on this, bitcoin is a new thing for investment, trading, and online transactions purposes. there is also no clear regulation from the government on bitcoin, so I think it will be better as it is now. we invest our money in bitcoin, pumping its value to go up properly and exchange it for money in the hope of making a profit. |
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EdenHazard
Legendary
Offline
Activity: 2674
Merit: 1048
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November 17, 2017, 06:56:57 AM |
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As of the moment fiat is the main factor on how markets operate. As soon as the economy adopts digital currency as its main form of payment then fiat will be a thing in the past.
exactly , an outdated currency. the future of currency it is no doubt bitcoin with its advanced technology , allows people to access their own money without have to rely on the third party provider , really a form of freedom ! people just not yet ready adopt bitcoin because still less support from government , but it is worth to wait. |
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potatocorner
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November 17, 2017, 06:13:33 PM |
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Of course can't fiat money replace bitcoin, because we still use fiat money at the end look how much banks they are in the world they won't just change to go to bitcoin. Bitcoin is just good when you trading or other stuff. Also we need fiat for bitcoin price.
I agree with this statement. I have seen threads that tackle about bitcoin replacing fiat but I don't believe it can be easily done. I know it will be a long and hard process before fiat is completely replaced by bitcoin. That is next to impossible, I believe. I think it would be more complicated if bitcoin will be the main currency used around the world. Of course you need internet connection to use it; so how about those people who cannot even access the internet. We can say it is possible but we need to discipline ourselves and work for those who experience poverty. I think it will happen but not in the near future. |
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bobyhodob
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November 17, 2017, 06:16:09 PM |
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Yes, got you intrigued, didn't it?
Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.
Yes youre on point. Heres the thing, Bitcoin cannot replace fiat because.. Btc value only depends on another currency's existence which we call it "fiat". Bitcoin in reality is not a money. Bitcoin only provides a transfer function, wether its a payment for a service, or a payment for a product. We invest btc with the hopes to pump up its value right? We use fiat money to invest, some get it from services like campaigns, faucets, blogs, etc. But at the end of the day when the Btc value met or exceed our expectations, we exchange it for fiat. So, how can Btc replaced fiat in these case. Can Btc creates its own value without depending in another form of currency? Yes, btc has a lot of good features than fiat in some cases but simply cannot replace fiat. yes, I really agree with you. the reason is quite simple, how can digital currency replace fiat? I will also add a little bit of my opinion on this, bitcoin is a new thing for investment, trading, and online transactions purposes. there is also no clear regulation from the government on bitcoin, so I think it will be better as it is now. we invest our money in bitcoin, pumping its value to go up properly and exchange it for money in the hope of making a profit. Fiat is under government regulation and fiat used by all people in the world, in fact I think fiat is still better in terms of transaction, no fees, the payment can be done anywhere, there is no confirmation and work offline 100%. So how bitcoin can replace fiat, if the fact fiat is still excelled in terms of transaction. |
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taktik
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November 17, 2017, 07:13:09 PM |
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As of the moment fiat is the main factor on how markets operate. As soon as the economy adopts digital currency as its main form of payment then fiat will be a thing in the past.
exactly , an outdated currency. the future of currency it is no doubt bitcoin with its advanced technology , allows people to access their own money without have to rely on the third party provider , really a form of freedom ! people just not yet ready adopt bitcoin because still less support from government , but it is worth to wait. there is no support from the government, because they have not yet come up with a process through which it will be possible to control the incomes of citizens in the crypto currency. One can only imagine what kind of money the state budgets of all countries avoid. |
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Sacredtoad
Newbie
Offline
Activity: 27
Merit: 0
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November 17, 2017, 07:20:30 PM |
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Yes, got you intrigued, didn't it?
Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.
Yes youre on point. Heres the thing, Bitcoin cannot replace fiat because.. Btc value only depends on another currency's existence which we call it "fiat". Bitcoin in reality is not a money. Bitcoin only provides a transfer function, wether its a payment for a service, or a payment for a product. We invest btc with the hopes to pump up its value right? We use fiat money to invest, some get it from services like campaigns, faucets, blogs, etc. But at the end of the day when the Btc value met or exceed our expectations, we exchange it for fiat. So, how can Btc replaced fiat in these case. Can Btc creates its own value without depending in another form of currency? Yes, btc has a lot of good features than fiat in some cases but simply cannot replace fiat. yes, I really agree with you. the reason is quite simple, how can digital currency replace fiat? I will also add a little bit of my opinion on this, bitcoin is a new thing for investment, trading, and online transactions purposes. there is also no clear regulation from the government on bitcoin, so I think it will be better as it is now. we invest our money in bitcoin, pumping its value to go up properly and exchange it for money in the hope of making a profit. Fiat is under government regulation and fiat used by all people in the world, in fact I think fiat is still better in terms of transaction, no fees, the payment can be done anywhere, there is no confirmation and work offline 100%. So how bitcoin can replace fiat, if the fact fiat is still excelled in terms of transaction. I agree with you i also do not think that bitcoin can replace fiat we are not that far in the future where we could just let fiat die and use bitcoin it would not work right now because not a lot of people know about bitcoin. |
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adamcro
Member
Offline
Activity: 276
Merit: 23
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November 17, 2017, 07:27:12 PM |
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Yes, got you intrigued, didn't it?
Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.
I kinda agree. BTC is more like a gold and with gold you can't buy a coffee. But BTC is a foundation of blockchain, we can use other crypto currency to buy a coffee right |
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AliMan
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November 17, 2017, 08:47:53 PM |
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Yes, got you intrigued, didn't it?
Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.
Yes youre on point. Heres the thing, Bitcoin cannot replace fiat because.. Btc value only depends on another currency's existence which we call it "fiat". Bitcoin in reality is not a money. Bitcoin only provides a transfer function, wether its a payment for a service, or a payment for a product. We invest btc with the hopes to pump up its value right? We use fiat money to invest, some get it from services like campaigns, faucets, blogs, etc. But at the end of the day when the Btc value met or exceed our expectations, we exchange it for fiat. So, how can Btc replaced fiat in these case. Can Btc creates its own value without depending in another form of currency? Yes, btc has a lot of good features than fiat in some cases but simply cannot replace fiat. yes, I really agree with you. the reason is quite simple, how can digital currency replace fiat? I will also add a little bit of my opinion on this, bitcoin is a new thing for investment, trading, and online transactions purposes. there is also no clear regulation from the government on bitcoin, so I think it will be better as it is now. we invest our money in bitcoin, pumping its value to go up properly and exchange it for money in the hope of making a profit. Fiat is under government regulation and fiat used by all people in the world, in fact I think fiat is still better in terms of transaction, no fees, the payment can be done anywhere, there is no confirmation and work offline 100%. So how bitcoin can replace fiat, if the fact fiat is still excelled in terms of transaction. Yes. I really agree with you. Fiat is still better than bitcoin. You know why? Because if you are aware of observing stores in your locations, Only few stores will accept Bitcoin as mode of payment. Hence, It shows that Fiat is still better than Bitcoin. No hassle, Just pay. Unlike bitcoin, the store must have an account to receive Bitcoin. Then if this is the case, What if the owner of the store has no account that can reveive Bitcoin? Probably, that's a big problem. In terms of using money in all services and buying products, Fiat is better than Bitcoin. |
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poisonivy77
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November 17, 2017, 10:01:13 PM |
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Yes, got you intrigued, didn't it?
Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.
i think so too, i believe that even though bitcoin has gotten popular it cannot replace fiat for the time being. fiat's centralization is what keeps it active and accepted across the world unlike bitcoin which is decentralized. |
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ridhobagus2308
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November 17, 2017, 11:55:08 PM |
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For now it is easier to say that bitcoin can not replace fiat. Anytime this year and the next years to come, fiat will still be the mode of transaction for any business around the world. However, the greater opportunity comes along with bitcoin because this has been accepted by a lot of countries globally. We may not know Bitcoin will extremely be an amazing currency of all time 50 years from now.
I think I agree with you. bitcoin is the best at this time even though its existence has not been able to match the fiat. but for bitcoin users like me bitcoin remains the best option for me at the moment. |
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speem28
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November 18, 2017, 04:58:19 AM |
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Yes, got you intrigued, didn't it?
Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.
That is right, Bitcoin really can't replace fiat money which we had been using for centuries. But, it is still good to have these types of money and let each one to be used along with the other. Using these two types of currencies offers us freedom on our transactions so let's just take full advantage of these benefits. There are lots of things that hinder bitcoin for acquiring mass adoption and I don't think there is a way or solution that we could do to solve this issue. |
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jessicawelsh
Newbie
Offline
Activity: 420
Merit: 0
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November 18, 2017, 05:00:02 AM |
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Yes it's hard to happen the situation that Bitcoin replaces fiats or fiats replace Bitcoin. Becasue each one have their own missions that others can't complete good.
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Palmholder
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November 18, 2017, 05:25:15 AM |
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What you said is obviously true. Other examples of it are electricity and smartphone possesion. I have seen the topic "No electricity no bictoin", nothing may i add to it. And smartphones, i personally dont like to have a smartphone because dont want applications to spy on me, i got no any reason to buy it, so should i bring my laptop with me to buy a pizza at a corner? Modern phones are quite expensive as well. Fiat money are much more convinient in that matter
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