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Mastercon
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June 10, 2016, 10:01:50 AM |
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Well in my opinion, Bitcoin cannot replace fiat. The first reason it can't be replaced by fiat is that fiat is backed by banks and government, while bitcoin isn't. The second reason why bitcoin can't replace fiat is that many convert's bitcoin as fiat and it's price is also based on fiat. The third and last reason why bitcoin cannot replace fiat is that some can't simply trust bitcoin.  Exactly, if bitcoins will not be back by the government, we will still continue to live at its current state and it is very risky as anytime the price will collapse if the government will declared this as illegal. I hope that would not come someday for us to continue to earn and have a good experience to transact online. The bitcoin is not officially regconized by the state in my country, but I can still buy things with it. |
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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Ayers
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Activity: 2604
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Leading Crypto Sports Betting & Casino Platform
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June 10, 2016, 10:13:33 AM |
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Well in my opinion, Bitcoin cannot replace fiat. The first reason it can't be replaced by fiat is that fiat is backed by banks and government, while bitcoin isn't. The second reason why bitcoin can't replace fiat is that many convert's bitcoin as fiat and it's price is also based on fiat. The third and last reason why bitcoin cannot replace fiat is that some can't simply trust bitcoin. Exactly, if bitcoins will not be back by the government, we will still continue to live at its current state and it is very risky as anytime the price will collapse if the government will declared this as illegal. I hope that would not come someday for us to continue to earn and have a good experience to transact online. The bitcoin is not officially regconized by the state in my country, but I can still buy things with it. this because they don't know that you are using it, bitcoin it's not traceable like fiat, so you can buy and no one will notice it, very convenient, and for this reason bank will never like bitcoin |
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romero121
Legendary
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Activity: 3164
Merit: 1213
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June 10, 2016, 11:57:33 AM |
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Well in my opinion, Bitcoin cannot replace fiat. The first reason it can't be replaced by fiat is that fiat is backed by banks and government, while bitcoin isn't. The second reason why bitcoin can't replace fiat is that many convert's bitcoin as fiat and it's price is also based on fiat. The third and last reason why bitcoin cannot replace fiat is that some can't simply trust bitcoin. Exactly, if bitcoins will not be back by the government, we will still continue to live at its current state and it is very risky as anytime the price will collapse if the government will declared this as illegal. I hope that would not come someday for us to continue to earn and have a good experience to transact online. The bitcoin is not officially regconized by the state in my country, but I can still buy things with it. Though its been not recognized in your state you have got the access to use your bitcoin directly, but the same is not possible everywhere. We are in need to convert into fiat for regular needs. For this reason bitcoin won't replace fiat. |
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yenxz
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June 10, 2016, 01:57:50 PM |
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i believe new technology not created for replacing anything,its just for alternate,its mean bitcoin created for alternate payment,not replace fiat.
even bitcoin have mass adopted,i dont think bitoin will replacing fiat.
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RastMan
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June 11, 2016, 06:37:44 AM |
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i believe new technology not created for replacing anything,its just for alternate,its mean bitcoin created for alternate payment,not replace fiat.
even bitcoin have mass adopted,i dont think bitoin will replacing fiat.
Bitcoin will not replace fiat in the medium term as it is not popular. When it is used by 20% of the world population, it might replace fiat in some countries. |
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saiha
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June 11, 2016, 07:05:18 AM |
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i believe new technology not created for replacing anything,its just for alternate,its mean bitcoin created for alternate payment,not replace fiat.
even bitcoin have mass adopted,i dont think bitoin will replacing fiat.
Well I guess bitcoin will just replace fiat if, the government will create a law that says the replacement of fiat money and the use of bitcoin for the government and it will definitely become a cashless society if that happens. |
Vires in Numeris
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justspare
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June 11, 2016, 07:34:58 AM |
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Yes of course bitcoin can never ever replace fiat currency.Because tho bitcoin is well developed it is still depending on american dollar fiat currency.It cannot stand alone.And besides bitcoin is just manage by rich peoples not by government.And yes bitcoin can be a fiat currency but can never replace fiat currency.
The main reason that Bitcoin won't replace fiat is the governments of countries. They won't make Bitcoin their currency unless they get something out of it.(and they won't) |
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Maslate
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June 11, 2016, 07:55:24 AM |
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i believe new technology not created for replacing anything,its just for alternate,its mean bitcoin created for alternate payment,not replace fiat.
even bitcoin have mass adopted,i dont think bitoin will replacing fiat.
Well I guess bitcoin will just replace fiat if, the government will create a law that says the replacement of fiat money and the use of bitcoin for the government and it will definitely become a cashless society if that happens. That would be impossible to happen because the government want to control of it, and the fact that the bitcoin is decentralized so it would be hard for that to happen, I think this is still good at least we do not pay taxes and we can maximize our earnings with bitcoins. |
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MWesterweele
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June 12, 2016, 06:13:54 AM |
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I also believing that bitcoins can never ever replace fiat currency evn if bitcoin will be the worlds currency.Because fiat is owned b government and not the same as bitcoin who is owned by rich peoples.But bitcoin can be in fiat currency line but can never ever replace any fiat
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studas
Newbie
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Activity: 26
Merit: 0
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June 22, 2016, 07:49:34 AM |
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I also believing that bitcoins can never ever replace fiat currency evn if bitcoin will be the worlds currency.Because fiat is owned b government and not the same as bitcoin who is owned by rich peoples.But bitcoin can be in fiat currency line but can never ever replace any fiat
It depends on the power of the ordinary people. If everybody wants to use the bitcoin, bitcoin will replace fiat. |
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Hatuferu
Legendary
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Activity: 1092
Merit: 1000
https://trueflip.io/
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July 02, 2016, 08:20:03 AM |
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I also believing that bitcoins can never ever replace fiat currency evn if bitcoin will be the worlds currency.Because fiat is owned b government and not the same as bitcoin who is owned by rich peoples.But bitcoin can be in fiat currency line but can never ever replace any fiat
It depends on the power of the ordinary people. If everybody wants to use the bitcoin, bitcoin will replace fiat. Even though that would happen but to see that happening is very impossible as in close to none, fiat will always be useful and bitcoins is mostly for investment as it has not get the support we need from the government. |
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torrentheaven
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July 02, 2016, 08:27:01 AM |
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I also believing that bitcoins can never ever replace fiat currency evn if bitcoin will be the worlds currency.Because fiat is owned b government and not the same as bitcoin who is owned by rich peoples.But bitcoin can be in fiat currency line but can never ever replace any fiat
It depends on the power of the ordinary people. If everybody wants to use the bitcoin, bitcoin will replace fiat. Even though that would happen but to see that happening is very impossible as in close to none, fiat will always be useful and bitcoins is mostly for investment as it has not get the support we need from the government. Government support is impossible, as they will only support their own currency on which they hold total control, and they will never allow any digital currency to replace their national currency. |
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sobsitesearch
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July 02, 2016, 09:40:14 AM |
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Yes bitcoin can not replace fiat cause bitcoin can only used in online transactions and for investment but fiat is very useful it can be use for daily living.
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Shibashi Dogemoto
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July 02, 2016, 09:41:59 AM |
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Yes bitcoin can not replace fiat cause bitcoin can only used in online transactions and for investment but fiat is very useful it can be use for daily living.
Yes and the fact is we cannot use bitcoin physically at a moment and that is the reason fiat will always be in demand and even in future there will be many people who will prefer to use fiat. |
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tabas
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July 02, 2016, 10:28:00 AM |
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Yes bitcoin can not replace fiat cause bitcoin can only used in online transactions and for investment but fiat is very useful it can be use for daily living.
Yes and the fact is we cannot use bitcoin physically at a moment and that is the reason fiat will always be in demand and even in future there will be many people who will prefer to use fiat. As of today fiat are still important as the people doesn't even know what is in the trend of technology. But once the government is going to implement the use of bitcoin. For sure bitcoin will replace the use of fiat. |
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mark coins
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July 02, 2016, 10:32:56 AM |
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Yes bitcoin can not replace fiat cause bitcoin can only used in online transactions and for investment but fiat is very useful it can be use for daily living.
Yes and the fact is we cannot use bitcoin physically at a moment and that is the reason fiat will always be in demand and even in future there will be many people who will prefer to use fiat. As of today fiat are still important as the people doesn't even know what is in the trend of technology. But once the government is going to implement the use of bitcoin. For sure bitcoin will replace the use of fiat. Do you really believe that Government will standby bitcoin ever in future? I don't think that is ever possible as fiat holds maximum users and they find it using very easy and convenient. |
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tabas
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July 02, 2016, 11:01:22 AM |
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Yes bitcoin can not replace fiat cause bitcoin can only used in online transactions and for investment but fiat is very useful it can be use for daily living.
Yes and the fact is we cannot use bitcoin physically at a moment and that is the reason fiat will always be in demand and even in future there will be many people who will prefer to use fiat. As of today fiat are still important as the people doesn't even know what is in the trend of technology. But once the government is going to implement the use of bitcoin. For sure bitcoin will replace the use of fiat. Do you really believe that Government will standby bitcoin ever in future? I don't think that is ever possible as fiat holds maximum users and they find it using very easy and convenient. Well it is just my opinion and we don't know if it is going to happen in the future. And we don't expect that bitcoin is going to reach on its current price today. So that is possible that bitcoin will be endorsed by the government. |
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Doamader
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July 02, 2016, 03:42:54 PM |
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I believe bitcoin besides move the current fiat to digital transactions, will be an option as investment as gold and others currencies and will work well with fiat being both at the same side. Just something that all knows, bitcoins without fiat worths nothing or almost nothing ,as one day we will be able to survive paying our needs with bitcoin, something that currently isn't possible, bitcoin needs more fiat support that the reverse.
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tampazeus
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July 02, 2016, 04:04:29 PM |
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Till we cannot buy anything using bitcoin, fiat will always exist, as to spend we need to convert our coins to fiat to spend, and I don't think that we will be able to buy almost anything in future with bitcoin.
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0day
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July 02, 2016, 04:08:25 PM |
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Yes bitcoin can not replace fiat cause bitcoin can only used in online transactions and for investment but fiat is very useful it can be use for daily living.
Yes and the fact is we cannot use bitcoin physically at a moment and that is the reason fiat will always be in demand and even in future there will be many people who will prefer to use fiat. As of today fiat are still important as the people doesn't even know what is in the trend of technology. But once the government is going to implement the use of bitcoin. For sure bitcoin will replace the use of fiat. Do you really believe that Government will standby bitcoin ever in future? I don't think that is ever possible as fiat holds maximum users and they find it using very easy and convenient. A day wil come that governments will also start to support bitcoin and will implement its use in their countries,but still fiat will renmain where it is, as more people feel convenient to use their local currency for their local markets etc. |
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