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goldcoinminer
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October 31, 2016, 09:47:42 AM |
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As flawed as the fiat is, bitcoin cannot replace what it does right now. Unless governments all over adopts bitcoin, which is highly unlikely to happen. And if by a small chance that happens, bitcoin as we know it would be a totally different thing.
Exactly, and the first thing would happen if it is adopted by a government would be the control, it is currently not in control of any authority and all of us are anonymous, but if the government of a country adopts it they would probably like to have control on the transactions or things the people doing in the country. That's the big problem as seems bitcoin cannot be controlled since we are here in the crypto world which most of the transactions are anonymous, even the business here are anonymous and when you will let the government to take control, the decentralize thing of bitcoin will be gone which is impossible. |
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gabmen
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October 31, 2016, 11:54:35 AM |
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As flawed as the fiat is, bitcoin cannot replace what it does right now. Unless governments all over adopts bitcoin, which is highly unlikely to happen. And if by a small chance that happens, bitcoin as we know it would be a totally different thing.
Exactly, and the first thing would happen if it is adopted by a government would be the control, it is currently not in control of any authority and all of us are anonymous, but if the government of a country adopts it they would probably like to have control on the transactions or things the people doing in the country. Yeah you're right. It may happen in the future, although i think not in the near future. And there would be a lot of changes so that governments and powerful people can manipulate it. And people are already so used to using fiat i don't think it would be easy to make them believe in btc |
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mirakal
Legendary
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Activity: 3108
Merit: 1290
Leading Crypto Sports Betting & Casino Platform
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October 31, 2016, 12:37:36 PM |
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As flawed as the fiat is, bitcoin cannot replace what it does right now. Unless governments all over adopts bitcoin, which is highly unlikely to happen. And if by a small chance that happens, bitcoin as we know it would be a totally different thing.
Exactly, and the first thing would happen if it is adopted by a government would be the control, it is currently not in control of any authority and all of us are anonymous, but if the government of a country adopts it they would probably like to have control on the transactions or things the people doing in the country. although i think not in the near future. And there would be a lot of changes so that governments and powerful people can manipulate it. And people are already so used to using fiat i don't think it would be easy to make them believe in btc Well, if that's how positive you are then I would respect that. However, that would be hard to see it will happen. It's like betting the 99% of people by 1%. What I am talking is, we are just a small community where users are only estimated to be 1% of the total population, and how can be beat the 99% and replace them? |
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Harlot
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October 31, 2016, 12:45:14 PM |
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As flawed as the fiat is, bitcoin cannot replace what it does right now. Unless governments all over adopts bitcoin, which is highly unlikely to happen. And if by a small chance that happens, bitcoin as we know it would be a totally different thing.
Exactly, and the first thing would happen if it is adopted by a government would be the control, it is currently not in control of any authority and all of us are anonymous, but if the government of a country adopts it they would probably like to have control on the transactions or things the people doing in the country. although i think not in the near future. And there would be a lot of changes so that governments and powerful people can manipulate it. And people are already so used to using fiat i don't think it would be easy to make them believe in btc Well, if that's how positive you are then I would respect that. However, that would be hard to see it will happen. It's like betting the 99% of people by 1%. What I am talking is, we are just a small community where users are only estimated to be 1% of the total population, and how can be beat the 99% and replace them? How can a currency limited only to 21,000,000 be allowed to replace Fiat Money? Think of what will happen, think of the inequality, and how it is advantageous to people who already are hoarding Bitcoins be. Also we can't rely on only Satoshis for a living we all need at least one whole of it. I am confident that the government even the future won't even think using Bitcoin as the main money of the world or even any country. |
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freedomgo
Legendary
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Activity: 3080
Merit: 1144
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October 31, 2016, 01:06:12 PM |
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As flawed as the fiat is, bitcoin cannot replace what it does right now. Unless governments all over adopts bitcoin, which is highly unlikely to happen. And if by a small chance that happens, bitcoin as we know it would be a totally different thing.
Exactly, and the first thing would happen if it is adopted by a government would be the control, it is currently not in control of any authority and all of us are anonymous, but if the government of a country adopts it they would probably like to have control on the transactions or things the people doing in the country. although i think not in the near future. And there would be a lot of changes so that governments and powerful people can manipulate it. And people are already so used to using fiat i don't think it would be easy to make them believe in btc Well, if that's how positive you are then I would respect that. However, that would be hard to see it will happen. It's like betting the 99% of people by 1%. What I am talking is, we are just a small community where users are only estimated to be 1% of the total population, and how can be beat the 99% and replace them? How can a currency limited only to 21,000,000 be allowed to replace Fiat Money? Think of what will happen, think of the inequality, and how it is advantageous to people who already are hoarding Bitcoins be. Also we can't rely on only Satoshis for a living we all need at least one whole of it. I am confident that the government even the future won't even think using Bitcoin as the main money of the world or even any country. Let us not make this an argument because this is senseless argument for matured people, I do not even know why this thread was created,, LOL.. Anyway, although the answer looks very obvious but somehow we are getting good points here to realize that bitcoin will never replace money. |
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serjent05
Legendary
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Activity: 2828
Merit: 1253
Cashback 15%
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October 31, 2016, 05:32:12 PM |
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As flawed as the fiat is, bitcoin cannot replace what it does right now. Unless governments all over adopts bitcoin, which is highly unlikely to happen. And if by a small chance that happens, bitcoin as we know it would be a totally different thing.
Exactly, and the first thing would happen if it is adopted by a government would be the control, it is currently not in control of any authority and all of us are anonymous, but if the government of a country adopts it they would probably like to have control on the transactions or things the people doing in the country. although i think not in the near future. And there would be a lot of changes so that governments and powerful people can manipulate it. And people are already so used to using fiat i don't think it would be easy to make them believe in btc Well, if that's how positive you are then I would respect that. However, that would be hard to see it will happen. It's like betting the 99% of people by 1%. What I am talking is, we are just a small community where users are only estimated to be 1% of the total population, and how can be beat the 99% and replace them? How can a currency limited only to 21,000,000 be allowed to replace Fiat Money? Think of what will happen, think of the inequality, and how it is advantageous to people who already are hoarding Bitcoins be. Also we can't rely on only Satoshis for a living we all need at least one whole of it. I am confident that the government even the future won't even think using Bitcoin as the main money of the world or even any country. lol you forgot the 8 degits after the decimal points. If you consider that 8 digits then that will be 100M x 21M now tell me if it is still small? The creator of bitcoin is really an intelligent being, he make 8 digits after the decimal to make up for the 21m limit of bitcoin. Bitcoin might be limited but satoshi is plenty for all of us. |
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mastica
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November 01, 2016, 07:30:43 PM |
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Remember one thing that bitcoin hasnt anymore those 21 milion coins, several coins has been lost into the last years, besides that to bitcoin get near the total ammount of money over the world, it would require bitcoin worth how much something like 40000 dollars for 1 bitcoin?
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betohell
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November 01, 2016, 10:44:54 PM |
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Remember one thing that bitcoin hasnt anymore those 21 milion coins, several coins has been lost into the last years, besides that to bitcoin get near the total ammount of money over the world, it would require bitcoin worth how much something like 40000 dollars for 1 bitcoin?
I think the number of bitcoin is not reduced, halving only reduces the block, not the amount on bitcoin, #imo I think however high the price of bitcoin, it will not be able to beat fiat |
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hisuka
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November 02, 2016, 02:25:41 AM |
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As of now, it will never happen, here in my country bitcoin
still not yet that well known. No bitcoin atm yet, need to
introduce so people could understand what is bitcoin.
Thus, bitcoin could not replace the fiat.
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arseaboy
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November 02, 2016, 03:45:22 AM |
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As of now, it will never happen, here in my country bitcoin
still not yet that well known. No bitcoin atm yet, need to
introduce so people could understand what is bitcoin.
Thus, bitcoin could not replace the fiat.
I think bitcoin need to introduce it first globally and it would be hard especially for those countries that are not rich in technologies. In my country too some of the remote places here doesn't have internet since they are not yet fully develop and I think it would take years or decades before they will be develop.. so that would be one of the hindrances bitcoin for replacing money. |
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Batharakala
Newbie
Offline
Activity: 12
Merit: 0
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November 02, 2016, 06:03:58 AM |
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I think maybe, someday with bitcoin we could buy something. the important thing now hopefully bitcoin currency legalized be recognized throughout the country.
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