Bitcoin replaces the money? Could happen?

[avw1982]

This could not happen, not every country is modernized enough to replace their currency for a virtual currency, this would not happen anytime soon, I do not think it will even ever happen.

But this virtual currency has the potential to turn users who are using their bank cards into using their bitcoin wallets. Yes the ration of bitcoin users will beat the traditional fiat users in near future for sure. The raising user bases and bitcoin adopting new merchants are some visible proof to that.

Replacement in the sense It will replace International transaction and this bitcoin will help more to common people who is not able pay to many taxes and other hidden charges. Instead of saving separate country banking system which have link International reserve banking system will get damage because of bitcoin transaction method. That’s why government is not allowing bitcoin.

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[Amph]

This could not happen, not every country is modernized enough to replace their currency for a virtual currency, this would not happen anytime soon, I do not think it will even ever happen.

yeah some do not have internet also, like some poor country of africa, there is no way that those cna understand and use bitcoin

but on the other hands, hopefully you don't need anyone using bitcoin to have adoption

[coindoubling]

It can never replace actual money as it is digital form of payment.
There will be times and places on earth where there is no eletricity or internet,
but still people need to pay the bills. The other thing is that computers/internet will
change so much in the next years, that in the near future it wont be as we know it today.

[HarHarHar9965]

This could not happen, not every country is modernized enough to replace their currency for a virtual currency, this would not happen anytime soon, I do not think it will even ever happen.

But this virtual currency has the potential to turn users who are using their bank cards into using their bitcoin wallets. Yes the ration of bitcoin users will beat the traditional fiat users in near future for sure. The raising user bases and bitcoin adopting new merchants are some visible proof to that.

Replacement in the sense It will replace International transaction and this bitcoin will help more to common people who is not able pay to many taxes and other hidden charges. Instead of saving separate country banking system which have link International reserve banking system will get damage because of bitcoin transaction method. That’s why government is not allowing bitcoin.

I think Its good to save enough money to stand on so you will not be broke in the future. Imagine if 20 million people want to save 1 BTC for future spending, then we would only have 1 million BTC in circulation. I almost forgot about the BTC that has been destroyed so the number of BTC available for people to save and spend is less than 21 million total BTC. It is technically not possible to replace the U.S. dollar with Bitcoin

[coinzat]

Nowadays, bitcoin can not replace fiat completely.
Because there are a lot of places in the third world that do not have any electricity services nor internet connection. They will continue dealing with fiat of course
Maybe in the future something changes, as there are some initiative like internet.org which aims to provide these services for poor places

[coinplus]

Nowadays, bitcoin can not replace fiat completely.
Because there are a lot of places in the third world that do not have any electricity services nor internet connection. They will continue dealing with fiat of course
Maybe in the future something changes, as there are some initiative like internet.org which aims to provide these services for poor places

Yes bitcoin can never replace any money. Bitcoin is just an electronic currency and can’t change anything, and it is not supported in some countries, and not accepted, though is decentralized currency. Every country has its own currency, making different country people to completely use only bitcoin is currently not possible.

[Adam1395]

I certainly hope so that it happens but I am sure enough that it would not happens preety soon, if you ask me these is a very less possibility for happening of this and even if it would happen it would happen atleast a decade or maybe two decades to be on a safer side.

[Luqman]

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

Yeah that's my point, bitcoin will be become global currency that every country use it.

[Sourgummies]

I guess not, if bitcoin replace the money might happen imbalances in the world economy, may be an economic crisis in some countries or the world, because if bitcoin replaced with bitcoin amount of money that is issued will be more and more and make bitcoin itself worthless

Bitcoins are good for countries that are in economic crisis and are in trouble, like that post about Venezuela. The inflation there is crazy and the currency is falling apart. Bitcoin would be a great help for the country and could even help with securing their money. Encryption to their cash, instead of having it on hand.

[mercenar1e]

its not happening anytime soon.

[aizzaku]

let me link you to what i said earlier on similar topic. too much drag to type again

https://bitcointalk.org/index.php?topic=1291832.60

[Ryananda]

I guess not, if bitcoin replace the money might happen imbalances in the world economy, may be an economic crisis in some countries or the world, because if bitcoin replaced with bitcoin amount of money that is issued will be more and more and make bitcoin itself worthless

Ya maybe your opinion there is a point that can not replace currency bitcoin, but bitcoin could replace money as an exchange unit. For instance in my area rented cars can already use bitcoin, it indirectly that bitcoin has replaced money as a unit of exchange. Perhaps it is my opinion

[pitham1]

I guess not, if bitcoin replace the money might happen imbalances in the world economy, may be an economic crisis in some countries or the world, because if bitcoin replaced with bitcoin amount of money that is issued will be more and more and make bitcoin itself worthless

Bitcoins are good for countries that are in economic crisis and are in trouble, like that post about Venezuela. The inflation there is crazy and the currency is falling apart. Bitcoin would be a great help for the country and could even help with securing their money. Encryption to their cash, instead of having it on hand.

Bitcoin is good for the people of the country to store value, but it cannot solve the underlying problems.
The underlying problems could be corruption, uncompetitive workforce, too much debt, etc.

[planetroving]

I highly doubt that Bitcoin would replace money in the near future. An obvious obstacle is not everybody has access to the internet, or even a computer. Each country wants to have its own currency, and some have gone extreme by banning Bitcoin completely. Also, the limited number of Bitcoin, being capped at 21M BTC, would be a problem if everybody started using Bitcoin as their primary way of trading, as many would want to save.

[greBit]

I highly doubt that Bitcoin would replace money in the near future. An obvious obstacle is not everybody has access to the internet, or even a computer. Each country wants to have its own currency, and some have gone extreme by banning Bitcoin completely. Also, the limited number of Bitcoin, being capped at 21M BTC, would be a problem if everybody started using Bitcoin as their primary way of trading, as many would want to save.

Yes we have to think about it will be very difficult for Bitcoin to replace the fiat currencies because of the reasons which you have already listed but still Bitcoin can work as a gift voucher or like credit or debit card amongst people who know what is Bitcoin and how to use it.

[justspare]

We can also buy goods with fiat, I don't see your point here. If we can already do it with fiat, how is Bitcoin going to take over. It is like the saying, don't fix it if it ain't broken. At first I thought the government would never let this happen because thousands of people would lose their jobs, but then I realised that people could just go and work for a Bitcoin bank. Anywho, Bitcoin is never going to replace fiat.

[mobnepal]

It will never gonna happen, bitcoin is like digital currency which value is compared against money. Bitcoin may remain as payment processor or better to say assets till the end. You will nver see bitcoin replacing all other money.

[cointtoo]

The problem would remain in convenience in use and simplicity and the advantage of BTC over creditcards etc... which are already allowing to buy items. it would need allot of advantages to encourage people to use something else.

[ivanst776]

Now in some places to buy goods directly can use bitcoin, how to conduct transactions directly using bitcoin? Because I place no purchases using bitcoin.

Nowadays has developed, which initially buy goods directly can only be used with the currency and credit cards, and can now use bitcoin although only in some places. Is it possible that the next few years means of exchange for transactions money initially turned into bitcoin?

What do you think about this?

Bitcoin can replace the money only particularly and not fully because it is impossible.
By this we should understand that more people will use bitcoin and less will use fiat, dollar can't disappear.

[victoryboy]

This can happen as possibilities are very high and to understand it better we can take money as example.If money can replace metal currency because it was more easy to handle with it than heavy metals coined then Bitcoin is much more useable with many advantages over money.