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sserge009
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April 13, 2018, 07:18:30 PM |
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Now the idea of canceling the fiat seems to be fanatical and unreal. Just like the idea of a car or airplane sometime. The idea of cash has long been consolidated in our minds, that it will not go away simply. It takes time to change consciousness and crypto just started its way.
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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Apaxy
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April 13, 2018, 08:12:56 PM |
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Now the idea of canceling the fiat seems to be fanatical and unreal. Just like the idea of a car or airplane sometime. The idea of cash has long been consolidated in our minds, that it will not go away simply. It takes time to change consciousness and crypto just started its way.
first of all answers what question. One should think about old people and children who still use paper money with ease. If they are given a crypto currency, then these people will have a huge problem in their personal lives. |
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jlong187
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April 13, 2018, 08:17:46 PM |
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Many financists are telling that paper money era end is near, but still many of contries, including mine are not ready for such significant changes to take place.
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jakoylantern
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April 14, 2018, 03:07:04 PM |
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For me, yes bitcoin cannot replace fiat because of its acceptance and legality. Yes, bitcoin’s acceptance is enormous but if you compare it to fiat bitcoin is very meager. The lawfulness of fiat is massive than bitcoin, even some company and establishment accept bitcoin fiat is still the winner. We all know that the government sectors and central banks do not control bitcoin, and there are still so many reasons why bitcoin cannot replace fiat.  |
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thundercrystal
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April 14, 2018, 03:21:17 PM |
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Bitcoin is for an investment or entity, but as time passes by bitcoin many people are using bitcoin, adopting it very quickly and now there are many stores accepting bitcoin as a payment option. it does not lift the possibility of bitcoin prices.
I think bitcoin can not replace fiat now, because until now not all people in this world is using and accepting bitcoin, but for me bitcoin has a chance to replace fiat if all people in this world can adopt and will support bitcoin to replace fiat. And i know that it has a chance to happen in the future. |
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candra raditya
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April 14, 2018, 03:25:23 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.
For now bitcoin is not possible to replace fiat, but in the future it can happen and all currencies become cryptocurrency, I'm sure there must be a change, and it's just a matter of time. |
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Taner
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April 15, 2018, 12:41:11 PM |
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In the future, cryptocurrencies will replace fiat. But this will happen when will be cryptocurrency cards and fast transactions. Then there will be a real boom in popularity.
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JoshuaBlack1
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April 15, 2018, 12:51:01 PM |
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The famous "cup of coffee" hypothesis. I think eventually bitcoin will be classed as a digital asset with an inherent store of value. The confusion comes because unlike other assets such as property, gold and valuable paintings it's impossible to chip off some of your house in order to pay for a coffee. Theoretically, this is possible with bitcoin as it's divisible to 8 decimal points. Unlike a house or a car you can also send this to another person online! So although yes it's a digital asset, it exhibits the properties of a currency because it's divisible and can be sent from A to B very quickly. Only time will tell. I can see it's primary use being a store of value wth the options to make medium to large payments.
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JoshuaBlack1
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April 15, 2018, 12:52:06 PM |
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And no it won't replace fiat. Although I don't think it needs to be in order to be a success, it just needs to become "another option"
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FRJ
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The Worlds Most Advanced Distributed Computer
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April 15, 2018, 01:14:09 PM |
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I think so Bitcoin actually can never replace Fiat. Bitcoin can be used beside Fiat .because there are so many people who don't know about Bitcoin .again some of the users of Bitcoin also don't want to use Bitcoin always. they sometime want to use fiats because maybe in most of the countries Bitcoin is Banned. again using fiats is very easy and they are used to to use fiat. so I think maybe the popularity of Bitcoin can increase. but bitcoin can never replace fiat.
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stayeduptolate
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April 15, 2018, 01:18:49 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. I do believe that bitcoin cannot replace fiat money. This is because firstly, fiat money is way more popular than bitcoin all over the world. Bitcoin also has way more users than bitcoin. Then cash is a stable form of currency because of which its value does not fluctuate a lot. Whereas bitcoin is not a stable form of currency and its value fluctuate often. Then bitcoin is not regulated by any government or bank. Whereas cash is regulated by government and bank. Because of all these thinks I think bitcoin can’t replace fiat money. |
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Hotel_Prodeo
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April 15, 2018, 01:23:26 PM |
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All countries will certainly maintain all their currency, I'm sure that although the use of bitcoin is massive but will never be able to replace fiat so fiat will forever be main a currency.
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Coleth
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April 15, 2018, 01:27:02 PM |
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As of the moment, there are still plenty of population depends on fiat, i mean it has greater percentages of fiat holders than bitcoin holders. So i don't think bitcoin would replace fiat money where we use everyday for transactions.
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kingnony
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April 15, 2018, 01:54:40 PM |
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Talking of present time, fiat is still very much needed. But no one can really tell for sure if bitcoin will replace fiat or not in the future. With mass adoption, I see that happening though, even if not bitcoin other altcoin..
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geegaw
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April 15, 2018, 01:58:13 PM |
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All countries will certainly maintain all their currency, I'm sure that although the use of bitcoin is massive but will never be able to replace fiat so fiat will forever be main a currency.
The chance for bitcoin to replace fiat is almost zero, replace a currency is not a small problem, that is a huge change in society, society will be very chaotic when many people want to convert the currency of the country into bitcoin, governments of countries will not like this trouble, too difficult to solve. In addition, Bitcoin with many people around the world is a big scam, they will not accept Bitcoin, the value of the bitcoin per hour is different, sometimes the value is blown up very high, it can not be used similarly to fiat |
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Piggymonster
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April 15, 2018, 10:24:14 PM |
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For now I have been thinking it can not be realized yet. This is due to the fact that bitcoin was backed up by real money and as of today the people are yet so hesitant to use bitcoin. Maybe in the future when bitcoin will be accepted anywhere like fiat currencies. For now it is way too early yet.
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Norihiro
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April 15, 2018, 10:28:18 PM |
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I absolutely agree with such statement, fiat currencies are not so functional and got a big number of different limitations.
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buternasek
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April 15, 2018, 10:43:58 PM |
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Well bitcoin werent made to replace nothing,were made to give the power back to the people,as before we were able to do anything with money in hands.Bitcoin is a currency and a way to pay that reduces the fees to any transaction and has no limits on it soo a huge advantage for those who wanna invest or send huge ammounts to another person.
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EnricoGomez
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April 16, 2018, 03:06:34 AM |
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Yes, I do agree on your statements.
Though I firmly believe on change; all of these can still change in the future and we should not ignore that. People may come up with an easier way for cryptos to be more easier and regular use if they want to.
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Liusdaomiless
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April 16, 2018, 03:18:15 AM |
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As its use becomes popular and users of all ages get more and more familiar with it, the world will leave the fiats aside, to adopt bitcoin as a means of commercial exchange.
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