Bitcoin replaces the money? Could happen?

[yenxz]

It could be happen,as you said before,bitcoin may rwplace real money,but i think it just happen in some country,not all around the world,because poor country always exist,and they not accept anyting expect real money as payment. I am sure about it

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[Ryananda]

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.

But how about in some years in the future when people over the world using bitcoin then paper money will really left by people.

the answer is really clear bitcoin will be main payment proceccor, but the chance of this thing to be happening is so small while government trying to banned bitcoin but beside of it all there's a chance

What makes the government banned the bitcoin? Instead of bitcoin is legal and if legal definitely does not violate the law? I know that the government is trying to ban bitcoin, government in which areas are forbidden?

I think if it provides ease of why the transaction should be prohibited should be allowed 

[WENGER]

Bitcoin alone won't replace any currency yet but Bitcoin with the help of credit cards could certainly due, just like how it happened few months back on Sweden if I'm not wrong, they only accept credit card and online methods of payment, no more fiat system used except for oil stuff so it's just a matter of year before other countries adopt a similar path but regardless of it, it's going to take something special to make Bitcoin as the sole purpose of monetary use.

[n2004al]

Bitcoin cannot replace any kind of money used legally in every country and which has the status of the national currency of the given country. For to many reasons. I am giving here two of those. First, a national money must be owned for sure by that country. Cannot be used as a national money or national currency a similar one which is not owned by that country because this, first of all, can put in risk the stability of the economy of that country. Then another reason is that the national money must be centralized in order that can be managed according the monetary policies decided by the Governments in collaboration with the Central Banks (which has as the first duty the managing and the take care of this money).

[bob123]

Bitcoin can't really "replace money" since its a currency thus money.
Furthermore i don't believe Bitcoin will replace others currencies completely..  I think a majority of people using Bitcon is a goal which is big enough

[VeritasSapere]

Bitcoin can replace fiat currency. If people freely and voluntarily choose to adopt Bitcoin on mass, it would have profound effects on our governments and institutions today. Bitcoin can be a tool for social change, effectively we could undermine the source of the current status quo power structure and we can do this through peaceful and voluntary means, by simply choosing to use Bitcoin instead of Fiat as a currency, this can profoundly change the world for the better, more then I suspect most people even realize.

[Jet Cash]

Bitcoin cannot replace any kind of money used legally in every country and which has the status of the national currency of the given country. For to many reasons. I am giving here two of those. First, a national money must be owned for sure by that country. Cannot be used as a national money or national currency a similar one which is not owned by that country because this, first of all, can put in risk the stability of the economy of that country. Then another reason is that the national money must be centralized in order that can be managed according the monetary policies decided by the Governments in collaboration with the Central Banks (which has as the first duty the managing and the take care of this money).

The dollar is no longer owned by the US government. It is created by the private banks.
The dollar has put the stability of the country at risk imho.
The dollar is no longer centralised, only the debts resulting from reckless lending

The same is true for many other countries. This is why Merkel had to steal from the Greek people in an attempt to shore up the German Douchebank.

[Ryananda]

It could be happen,as you said before,bitcoin may rwplace real money,but i think it just happen in some country,not all around the world,because poor country always exist,and they not accept anyting expect real money as payment. I am sure about it

So basically we can replace the real money with bitcoin to a record that is only true in poor countries?
So what to do that poor countries can replace their currencies with bitcoin? I want to know so deeply about this

[virtualx]

Bitcoin cannot replace any kind of money used legally in every country and which has the status of the national currency of the given country. For to many reasons. I am giving here two of those. First, a national money must be owned for sure by that country. Cannot be used as a national money or national currency a similar one which is not owned by that country because this, first of all, can put in risk the stability of the economy of that country. Then another reason is that the national money must be centralized in order that can be managed according the monetary policies decided by the Governments in collaboration with the Central Banks (which has as the first duty the managing and the take care of this money).

The dollar is no longer owned by the US government. It is created by the private banks.
The dollar has put the stability of the country at risk imho.
The dollar is no longer centralised, only the debts resulting from reckless lending

The same is true for many other countries. This is why Merkel had to steal from the Greek people in an attempt to shore up the German Douchebank.

The United States dollar is created by the Federal Reserve, which is not owned by the US government.  The US government lends dollars from the federal reserve. Is there any other entity creating dollars?

Money creation in progress:

[vilain]

Bitcoin cannot replace any kind of money used legally in every country and which has the status of the national currency of the given country. For to many reasons. I am giving here two of those. First, a national money must be owned for sure by that country. Cannot be used as a national money or national currency a similar one which is not owned by that country because this, first of all, can put in risk the stability of the economy of that country. Then another reason is that the national money must be centralized in order that can be managed according the monetary policies decided by the Governments in collaboration with the Central Banks (which has as the first duty the managing and the take care of this money).

The dollar is no longer owned by the US government. It is created by the private banks.
The dollar has put the stability of the country at risk imho.
The dollar is no longer centralised, only the debts resulting from reckless lending

The same is true for many other countries. This is why Merkel had to steal from the Greek people in an attempt to shore up the German Douchebank.

The United States dollar is created by the Federal Reserve, which is not owned by the US government.  The US government lends dollars from the federal reserve. Is there any other entity creating dollars?

Money creation in progress:

Fiat money is "created" by every bank institution, through lending. Take a look: https://en.wikipedia.org/wiki/Loan-deposit_ratio

[VeritasSapere]

It could be happen,as you said before,bitcoin may rwplace real money,but i think it just happen in some country,not all around the world,because poor country always exist,and they not accept anyting expect real money as payment. I am sure about it

So basically we can replace the real money with bitcoin to a record that is only true in poor countries?
So what to do that poor countries can replace their currencies with bitcoin? I want to know so deeply about this

If your question is whether poor countries will be able to do adopt Bitcoin or not. That depends on how poor the country in question is and what cellphone infrastructure they might already have. For many poor countries large scale adoption of Bitcoin is already possible due to the proliferation of smartphones in these countries.

So to answer your question, if there is a large distribution of smart phones and the necessary infrastructure already exists for the country in question then mass adoption of Bitcoin by these people is possible. I know that these conditions are presently true for certain countries in Africa and Asia at least.

[btvGainer]

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.

But how about in some years in the future when people over the world using bitcoin then paper money will really left by people.

Governments can introduce their own crypytoversion of their fiat but to say that bitcoin will replace them is not possible.Bitcoin has limited supply it cant be used by everyone for all the transctions taking place every second globally we definitily need more cryptos

[VeritasSapere]

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.

But how about in some years in the future when people over the world using bitcoin then paper money will really left by people.

Governments can introduce their own crypytoversion of their fiat but to say that bitcoin will replace them is not possible.Bitcoin has limited supply it cant be used by everyone for all the transctions taking place every second globally we definitily need more cryptos

I do believe that it is possible that Bitcoin will be able handle the majority of transactions globally within twenty years, since our technology will advance to allow this to happen. However I do think that in practice this would be distributed across several cryptocurrencies as you describe but not necessarily out of necessity but more likely due to preference and ideology.

[Amph]

Bitcoin cannot replace any kind of money used legally in every country and which has the status of the national currency of the given country. For to many reasons. I am giving here two of those. First, a national money must be owned for sure by that country. Cannot be used as a national money or national currency a similar one which is not owned by that country because this, first of all, can put in risk the stability of the economy of that country. Then another reason is that the national money must be centralized in order that can be managed according the monetary policies decided by the Governments in collaboration with the Central Banks (which has as the first duty the managing and the take care of this money).

The dollar is no longer owned by the US government. It is created by the private banks.
The dollar has put the stability of the country at risk imho.
The dollar is no longer centralised, only the debts resulting from reckless lending

The same is true for many other countries. This is why Merkel had to steal from the Greek people in an attempt to shore up the German Douchebank.

The United States dollar is created by the Federal Reserve, which is not owned by the US government.  The US government lends dollars from the federal reserve. Is there any other entity creating dollars?

Money creation in progress:

not so different than making toilet paper, but they decided that the fancy one has a value 

and they still call this real money, when it's the first thing that has less value in the world...

[lenoli]

bitcoin cannot replace money, but it will be one of the alternative of money, like gold

[ATguy]

Bitcoin cannot replace any kind of money used legally in every country and which has the status of the national currency of the given country. For to many reasons. I am giving here two of those. First, a national money must be owned for sure by that country. Cannot be used as a national money or national currency a similar one which is not owned by that country because this, first of all, can put in risk the stability of the economy of that country. Then another reason is that the national money must be centralized in order that can be managed according the monetary policies decided by the Governments in collaboration with the Central Banks (which has as the first duty the managing and the take care of this money).

Yes, current rules are these. But next generation representatives (or maybe voted in direct democracy system) may change any such rules, and ending centralization replacing with more effective free markets might make a lot of sence. And moving to decentralized cryptocurrency system is not possible soon anyway because of technical limitations like bandwich/storage cost - if/once these costs are much lower compared with today situation, only then it makes sence to ask whether people want replace fiat with decentralized cryptocurrency.

[nejibens]

Bitcoin's already money, it's a full and real currency , just not used like fiat till now
But i think the things will change with time and Bitcoin will be used more than fiat in the future

[Ryananda]

Bitcoin can't really "replace money" since its a currency thus money.
Furthermore i don't believe Bitcoin will replace others currencies completely..  I think a majority of people using Bitcon is a goal which is big enough

Yes indeed may bitcoin can not replace the money but I think very likely bitcoin can replace credit cards.

Looks like it could happen

[Snorek]

not so different than making toilet paper, but they decided that the fancy one has a value 

and they still call this real money, when it's the first thing that has less value in the world...

Well, bitcoin from the other hand is just a number stored in the blockchain. I don't see much difference here. Both bitcoin and FIAT have little intrinsic value imo.
The difference is that bitcoin value is ultimately determined by what people are willing to trade for - by supply and demand and FIAT economy is centrally controlled.

[trafficolaa]

It would take little more time to go to mainstream than it would get widely adoption all around the world so that after this kind of huge adoption it could possible to use directly at any area of the world but we have to wait for this little more.