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goldcoinminer
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September 30, 2016, 04:27:22 AM |
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No it will never happen.As you've mentioned about stores accepting bitcoins that is fine,we can even expect big players like Amazon or Ebay to star accepting bitcoins as an alternate paying method but they won't completely replace the fiat.The government will never allow that for obvious reasons.
You are right, bitcoin will never replace fiat money in any country in this world, it will never happen. The best thing for bitcoin is to be an alternative payment for internet trading for people in around the world. Yes and thats the bitcoin limitation which it could be used only on online transaction it may used for some countries by currency itself but it wont spread or adopt all over the world and also bitcoin is dependent on the value of fiat, If he could surpass it maybe it would control but it wont happen anytime soon. People will only use when bitcoin will be legalize and the government will help on spreading on how to use bitcoin for the benefits of the majority, but what I am seeing is that there are some rich politician who protects the interest of the rich individuals, so if there will be a conflict of interest or they will see that bitcoin will be a treat they will not support it. |
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The trust scores you see are subjective; they will change depending on who you have in your trust list. |
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Leonard2016
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September 30, 2016, 04:33:11 AM |
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No it will never happen.As you've mentioned about stores accepting bitcoins that is fine,we can even expect big players like Amazon or Ebay to star accepting bitcoins as an alternate paying method but they won't completely replace the fiat.The government will never allow that for obvious reasons.
You are right, bitcoin will never replace fiat money in any country in this world, it will never happen. The best thing for bitcoin is to be an alternative payment for internet trading for people in around the world. Yes and thats the bitcoin limitation which it could be used only on online transaction it may used for some countries by currency itself but it wont spread or adopt all over the world and also bitcoin is dependent on the value of fiat, If he could surpass it maybe it would control but it wont happen anytime soon. People will only use when bitcoin will be legalize and the government will help on spreading on how to use bitcoin for the benefits of the majority, but what I am seeing is that there are some rich politician who protects the interest of the rich individuals, so if there will be a conflict of interest or they will see that bitcoin will be a treat they will not support it. people will be using bitcoin even if it is not legal and they will continue using it. they are currently using bitcoin despite the fact that it is neither legal nor illegal but making it legal will only help it be used "more" and maybe help the merchants start accepting it, that is all. |
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Harlot
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September 30, 2016, 04:52:40 AM |
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Bitcoin instead of money, as of now, it sounds ridiculous, but we can't predict the future, perhaps ten years after twenty years, more and more people know the use of bitcoin, bitcoins, then it will become a reality
Yes bitcoin might not be able to replace the money. Although bitcoin will develop it will not be able to replace the money because it is not as currency bitcoin, but digital currency that can only be used online. It is not bad to be optimistic about the Bitcoin's future but we need to face the reality, in order for Bitcoin to support the entire world I think 21,000,000 is not enough for us 6 Billion and counting living in Earth, also many people will take advantage of hoarding Bitcoin for its price to get up and also Bitcoin's price has a fiat value equivalent what will happen if they demonetized fiat currency? My guess that it will create chaos not only in it's price but also everything that revolves around money. Sometimes those bitcoin lovers are dreaming too much. Im a bitcoin lover too but not to the point that I will take my desire to an unexplanable one. Never seeing such valid point why other people agrees that fiat money today can be replaced. i love bitcoins too and i dont expect its price to go too much up or replace dollar because i know that it is impossible It's good to be optimistic but not too realistic, even bitcoin will become so popular it cannot compete with dollars which is a very strong currency and not will even happen in the future. It's not about the price, right now Bitcoin's price is higher than any Fiat currency we have. For Long Term Investors it is all about the longevity of Bitcoin, Right now I don't have the proper prediction at until when will Bitcoin last, as a long term investor I am worried that one day people won't use Bitcoin because of many factors surrounding it like how people use it to scam or when there is no Bitcoin to be mined. |
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agustina2
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September 30, 2016, 05:01:56 AM |
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It's not about the price, right now Bitcoin's price is higher than any Fiat currency we have. For Long Term Investors it is all about the longevity of Bitcoin, Right now I don't have the proper prediction at until when will Bitcoin last, as a long term investor I am worried that one day people won't use Bitcoin because of many factors surrounding it like how people use it to scam or when there is no Bitcoin to be mined.
You need some education. You are only seeing the "numbers". You think bitcoin price is higher than any fiat currency? Yes in numbers "if you see them" but what about the other thing? Stability? Volatility? Didn't you know that fiat currency even for a centavos movement in their exchange rate really gives a big impact in one country's economy? |
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Zadicar
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September 30, 2016, 05:41:18 AM |
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It's not about the price, right now Bitcoin's price is higher than any Fiat currency we have. For Long Term Investors it is all about the longevity of Bitcoin, Right now I don't have the proper prediction at until when will Bitcoin last, as a long term investor I am worried that one day people won't use Bitcoin because of many factors surrounding it like how people use it to scam or when there is no Bitcoin to be mined.
You need some education. You are only seeing the "numbers". You think bitcoin price is higher than any fiat currency? Yes in numbers "if you see them" but what about the other thing? Stability? Volatility? Didn't you know that fiat currency even for a centavos movement in their exchange rate really gives a big impact in one country's economy? Thats true, digital currency couldnt be really compared to a paper currency itself although it may surpass on numbers but still it wouldnt have a chance to replace fiat anytime soon. Paper currency is being used on how many decades and theres no way that it could replace by bitcoin. |
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bitlancr
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September 30, 2016, 07:23:10 AM |
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Yes bitcoin COULD replace the money theoretically but I don't think it will ever reach high enough powers to be able to do that though.
USD etc has such a big foundation that it's near impossible to knock it off it's throne if you ask me.
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passwordnow
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September 30, 2016, 07:27:11 AM |
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Yes bitcoin COULD replace the money theoretically but I don't think it will ever reach high enough powers to be able to do that though.
USD etc has such a big foundation that it's near impossible to knock it off it's throne if you ask me.
I do believe also that fiat money will be replaced by a digital money that is just like going to be implemented first by US government but I don't think if they are going to rely with bitcoin. It is going to be cashless society and that is going to be implanted with the use of a microchip and that is going to be your wallet and by just scanning it to supermarkets you are going to pay your groceries conveniently and fast. |
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Mastsetad
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September 30, 2016, 07:38:58 AM |
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Yes bitcoin COULD replace the money theoretically but I don't think it will ever reach high enough powers to be able to do that though.
USD etc has such a big foundation that it's near impossible to knock it off it's throne if you ask me.
Exactly, those currencies have been around for centuries and people around the world has been using them from a really long time so they would probably not suddenly accept something else in place of that. |
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newcoins1978
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September 30, 2016, 08:08:05 AM |
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Maybe this could happen I just don't see it happening right now cause bitcoin is quite big with big foundation but the fiat is way too big and exist to long to just kick off the throne.
So because of this reason I don't think it will ever happen but it wil be healthy competition to eachother.
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freedomgo
Legendary
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Activity: 3080
Merit: 1144
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September 30, 2016, 08:45:19 AM |
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Maybe this could happen I just don't see it happening right now cause bitcoin is quite big with big foundation but the fiat is way too big and exist to long to just kick off the throne.
So because of this reason I don't think it will ever happen but it wil be healthy competition to eachother.
Actually there is no competition between the two, they are both useful bitcoin is good for online transaction and while money dominate the real world offline transaction, I think they have both good benefits so instead of comparing them we should just thank them. |
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agustina2
Legendary
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Activity: 2436
Merit: 1008
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September 30, 2016, 09:49:45 AM |
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Yes bitcoin COULD replace the money theoretically but I don't think it will ever reach high enough powers to be able to do that though.
USD etc has such a big foundation that it's near impossible to knock it off it's throne if you ask me.
I do believe also that fiat money will be replaced by a digital money that is just like going to be implemented first by US government but I don't think if they are going to rely with bitcoin. It is going to be cashless society and that is going to be implanted with the use of a microchip and that is going to be your wallet and by just scanning it to supermarkets you are going to pay your groceries conveniently and fast. Now imagine how the limited supply of coins can support all people in the world. Since bitcoin will replace it's money it must surpass the total numbers of printed money by every country. And take note, some will hoard bitcoin so it's not making sense to believe that bitcoin can replace money. The good thing here is, we have many options to choose. Why bother replacement if we can get benefits from both of the party. |
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Sandroxa
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September 30, 2016, 12:44:40 PM |
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Maybe in the far future there is a possibility but right now it will still not happen because f the fact that its not possible right now.
If the bitcoin gets bigger there is maybe a possibility.
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Samadur
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September 30, 2016, 03:09:12 PM |
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bitcoints transformation trend in the currency increases every year. Bitcoints took over part of the functions of money. He likes people, he popular. But he is no longer like the government
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kodoll
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October 01, 2016, 03:56:50 PM |
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bitcoints transformation trend in the currency increases every year. Bitcoints took over part of the functions of money. He likes people, he popular. But he is no longer like the government
The function of money they carry out only to the extent that Bitcoins are trusted by the people. And people are very small percentage of the world's population. |
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X-ray
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October 01, 2016, 04:05:20 PM |
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Maybe this could happen I just don't see it happening right now cause bitcoin is quite big with big foundation but the fiat is way too big and exist to long to just kick off the throne.
So because of this reason I don't think it will ever happen but it wil be healthy competition to eachother.
Actually there is no competition between the two, they are both useful bitcoin is good for online transaction and while money dominate the real world offline transaction, I think they have both good benefits so instead of comparing them we should just thank them. definitely right answer,bitcoin was designed for digital transaction while cash was designed for offline transaction and thus make bitcoin can't compete cash in offline transaction and so does with the cash,actually if we can use both,why choosing only one |
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RobinHoodster
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October 01, 2016, 04:26:15 PM |
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Bitcoin could replace, but the price of 1 single bitcoin would have to be maybe 200k dollars as the global economy is quite high compared to bitcoin value, anyway would be funny to see 0,001 worthing near 1 milion or more. But bitcoin at this stage cant replace the fiat, because the decentralization, a new bitcoin can be built controlled by all the countries.
Replacing will not happen. Of that I am certain. but I do think bitcoin could jump into the large gap for online payments. Be a competitor to paypal and expand it's horizon. Because let's face it, fiat will be important, now and in the future. |
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Aamir1
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October 01, 2016, 04:37:02 PM |
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Bitcoin could replace, but the price of 1 single bitcoin would have to be maybe 200k dollars as the global economy is quite high compared to bitcoin value, anyway would be funny to see 0,001 worthing near 1 milion or more. But bitcoin at this stage cant replace the fiat, because the decentralization, a new bitcoin can be built controlled by all the countries.
Replacing will not happen. Of that I am certain. but I do think bitcoin could jump into the large gap for online payments. Be a competitor to paypal and expand it's horizon. Because let's face it, fiat will be important, now and in the future. Fiat would probably be important always as what i feel, it has been around for almost centuries and is trusted widely among people around the world while bitcoin is still too new in the world, no matter how high it goes in the value but it still wont be able to replace fiat i guess. |
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jak3
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October 01, 2016, 05:18:45 PM |
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maybe it could but i belive banks have very strong roots into the groud and they have even spread their empire all over the country and ruling over many years bitcoin is far far better than them but still is banks toughest enemy
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serjent05
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Cashback 15%
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October 01, 2016, 05:35:26 PM |
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Bitcoin could replace, but the price of 1 single bitcoin would have to be maybe 200k dollars as the global economy is quite high compared to bitcoin value, anyway would be funny to see 0,001 worthing near 1 milion or more. But bitcoin at this stage cant replace the fiat, because the decentralization, a new bitcoin can be built controlled by all the countries.
Replacing will not happen. Of that I am certain. but I do think bitcoin could jump into the large gap for online payments. Be a competitor to paypal and expand it's horizon. Because let's face it, fiat will be important, now and in the future. I agree bitcoin will never replace fiat money, because of several grounds. Government won't allow bitcoin to replace their national currency Government don't want to be in economic crisis because of some bitcoin whale to dictate their economic course. Government wont allow not to tax transaction and bitcoin technically nullify outside taxation. and alot more. |
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1Referee
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October 01, 2016, 06:11:09 PM |
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maybe it could but i belive banks have very strong roots into the groud and they have even spread their empire all over the country and ruling over many years bitcoin is far far better than them but still is banks toughest enemy
Not maybe, it's impossible. The only entity with the power to replace the current fiat money system, are the governments themselves if they so wish. But why should they? This whole system is set up to generate them multi billions of incoming money from people every month/year. They would be crazy to change anything. |
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