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to1ga
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October 25, 2016, 06:15:11 AM |
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Yeah bitcoin is still not too popular in many corners of the world and people will prefer to use fiat as they are used to it and they are using it since long time.
That's correct, people find fiat convenient and easy to use and fiat is accepted everywhere and we cannot expect that poor and illiterate people will start using bitcoins as bitcoin can be complicated for them and make their spending difficult. |
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"Governments are good at cutting off the heads of a centrally
controlled
networks like Napster, but pure P2P networks like Gnutella and Tor seem
to be holding their own." -- Satoshi
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ObscureBean
Legendary
 Offline
Activity: 1148
Merit: 1000
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October 25, 2016, 06:54:18 AM |
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Bitcoin gives power to the people but people are not all equal. If there is no entity responsible for what goes on within the system, rich people will as usual be able to work their way out of difficult situations but poor people will be a lot worse off than they are in the current system. At lease right now they can still turn to the authorities, government etc for whatever good that does. In a world where there is no governing body, they would be completely on their own, with no money to fall back on for support.
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bamboylee
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October 25, 2016, 07:05:44 AM |
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bitcoin or any digital currency has the potential to replace the fiat currency but it might take a while in order that to happen,it is not easy as you think ,right now we are using debt and credit cards for purchasing ,but people are still using paper currency to purchase goods and not every shop accepts debit or credit card,when everything becomes digital then we can think about replace paper currency
Sorry but I cannot agree to that statement, bitcoin is good as a digital currency but it has only limited function which is solely for online transaction, fiat are government regulated currency and it give us an assurance that we are using a legal tender that will protect the interest on both transacting party. In the future, online transaction will be for more than 90% of all the transaction. You can do one with a mobile device. It will take atleast 10 years till the we achieve those moment, sure almost all people does have a phone, but internet at some countries are expensive, because its new, anyway over the time i do believe we will be doing almost everything online. How ever long it will take, the point is, that is the direction we are going to. So, if most of the transactions will be online in the future, then bitcoin has more power than fiat/paper money in that time. And when that time comes, it is possible that bitcoin or digital currency will replace paper money. |
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Ybalevia
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October 25, 2016, 07:52:18 AM |
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I now what could happen and that is not that the bitcoin is going totrplaces the money becuase the bitcoin exist out of the money and without the money the
coin is worthless you know,.
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Fatamorgana
Member
Offline
Activity: 70
Merit: 10
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October 25, 2016, 10:07:29 AM |
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Bitcoin could replace the money but its from now real far a way if you ask me, due to the reason the bitcoin has to get a lot bigger if this would happen. I think with the future of the bitcoin is possible but it will take a couple of years maybe even more something near the 10 years.
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jerelimZ
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October 25, 2016, 10:10:02 AM |
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Bitcoin could replace the money but its from now real far a way if you ask me, due to the reason the bitcoin has to get a lot bigger if this would happen. I think with the future of the bitcoin is possible but it will take a couple of years maybe even more something near the 10 years.
Even if bitcoin gets more popular and bigger in future its unlike to see that it can ever replace a paper money which has support from the Government and the society and bitcoin will be always used as an secondary currency. |
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gabmen
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October 25, 2016, 01:29:41 PM |
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Bitcoin could replace the money but its from now real far a way if you ask me, due to the reason the bitcoin has to get a lot bigger if this would happen. I think with the future of the bitcoin is possible but it will take a couple of years maybe even more something near the 10 years.
Even if bitcoin gets more popular and bigger in future its unlike to see that it can ever replace a paper money which has support from the Government and the society and bitcoin will be always used as an secondary currency. Yeah it's a bit unlikely that btc will "replace" paper money. As it will be almost impossible to have governments shift their support from what is generally being used for a very long time to something that you can't even hold in your hands. |
Report to moderator . ██████████. .████████████████. .██████████████████████. -█████████████████████████████ .██████████████████████████████████. -█████████████████████████████████████████ -███████████████████████████████████████████████ .-█████████████████████████████████████████████████████. .████████████████████████████████████████████████████████████ .██████████████████████████████████████████████████████████████. .██████████████████████████████████████████████████████████████. ..███████████████████████████████ |
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Natalim
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October 25, 2016, 01:53:27 PM |
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Bitcoin could replace the money but its from now real far a way if you ask me, due to the reason the bitcoin has to get a lot bigger if this would happen. I think with the future of the bitcoin is possible but it will take a couple of years maybe even more something near the 10 years.
Even if bitcoin gets more popular and bigger in future its unlike to see that it can ever replace a paper money which has support from the Government and the society and bitcoin will be always used as an secondary currency. Yeah it's a bit unlikely that btc will "replace" paper money. As it will be almost impossible to have governments shift their support from what is generally being used for a very long time to something that you can't even hold in your hands. I too agree that it is impossible for bitcoin to replace money, it will only happen in our dreams because bitcoin is not so popular like money that we are using everyday to live. |
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zeaderza
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October 25, 2016, 01:59:35 PM |
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bitcoin or any digital currency has the potential to replace the fiat currency but it might take a while in order that to happen,it is not easy as you think ,right now we are using debt and credit cards for purchasing ,but people are still using paper currency to purchase goods and not every shop accepts debit or credit card,when everything becomes digital then we can think about replace paper currency
Sorry but I cannot agree to that statement, bitcoin is good as a digital currency but it has only limited function which is solely for online transaction, fiat are government regulated currency and it give us an assurance that we are using a legal tender that will protect the interest on both transacting party. In the future, online transaction will be for more than 90% of all the transaction. You can do one with a mobile device. It will take atleast 10 years till the we achieve those moment, sure almost all people does have a phone, but internet at some countries are expensive, because its new, anyway over the time i do believe we will be doing almost everything online. How ever long it will take, the point is, that is the direction we are going to. So, if most of the transactions will be online in the future, then bitcoin has more power than fiat/paper money in that time. And when that time comes, it is possible that bitcoin or digital currency will replace paper money. There is also the likelihood that bitcoin may be produce physically and accepted because the QR code can be used to identify and record transaction, though do not know much about programming but it looks to me that it is possible. |
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amacar2
Legendary
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Activity: 1120
Merit: 1007
CryptoTalk.Org - Get Paid for every Post!
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October 25, 2016, 05:25:39 PM |
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Bitcoin could replace the money but its from now real far a way if you ask me, due to the reason the bitcoin has to get a lot bigger if this would happen. I think with the future of the bitcoin is possible but it will take a couple of years maybe even more something near the 10 years.
- Paper money can't be replaced neither by virtual currency/ internet banking/ cryptocurrency completely. - cryptocurrency like bitcoin can replace or atleast dominate payment processor market - banks will always be in existence with improved system and security and even they may implement blockchain tech in their system These are the few possibility i see regarding whole world economy and financial systems. |
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gabmen
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October 26, 2016, 11:59:57 AM |
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I now what could happen and that is not that the bitcoin is going totrplaces the money becuase the bitcoin exist out of the money and without the money the
coin is worthless you know,.
It is hard to think or accept that bitcoin will replace the usage of fiat money. Because people used to it and many people still doesn't know about bitcoin so they must learn things about the bitcoin. So if bitcoin will replace the fiat money then how the government will stabilize and control the price and consumption of bitcoin by the people? Yeah well we can all agree that bitcoin replacing the fiat is definitely unlikely in the next couple of years or even decades. As you've said not much people are aware yet about bitcoin, but in the future, even when bitcoin is most likely widely known already, people would still prefer to hold real money in theor hands. |
Report to moderator . ██████████. .████████████████. .██████████████████████. -█████████████████████████████ .██████████████████████████████████. -█████████████████████████████████████████ -███████████████████████████████████████████████ .-█████████████████████████████████████████████████████. .████████████████████████████████████████████████████████████ .██████████████████████████████████████████████████████████████. .██████████████████████████████████████████████████████████████. ..███████████████████████████████ |
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CloudStrife
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October 26, 2016, 12:13:15 PM |
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I think so, but it is not something that will happen anytime soon. People still rely heavily on paper money for daily expenses. But certainly there is potential for bitcoin to be adopted by these people in the future.
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adi33
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October 26, 2016, 12:42:34 PM |
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I think the development of bitcoin as a pretty good deal at this time because the more people who know bitcoin bitcoin will not rule would be one means of transaction. although not a lot of places but it was very nice dilihit of movement bitcoin as a means of transaction  |
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marcuslong
Legendary
Offline
Activity: 1036
Merit: 1002
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October 26, 2016, 12:49:47 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.
Is this a joke even in the future bitcoin can't really replace the real money in the world and it can really be happen anymore if you guy's are believing that bitcoin can really replace money then it always a rumble or rude to those country who are not using bitcoin. |
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jonpande
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October 26, 2016, 01:33:31 PM |
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Bitcoin replaces money? Could occur? Bitcoin is not going to replace cash, people prefer cash to buy goods in real life.
I do not think bitcoin can replace the money cash, digital currency bitcoin , if anything happens to your wallet or internet all your money will be lost.
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Doamader
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October 26, 2016, 02:36:16 PM |
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Bitcoin might turn into the best choise of investment against the current gold, but there is no way bitcoin to held any portion of the big interest at gold. Bitcoin wont replace any currencie, its an option against the countries currency, wich you can exchange almost anytime, instead you buy local currencie you buy bitcoin and exchange as your needs into the local currencie.
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bamboylee
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October 26, 2016, 04:03:40 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.
Is this a joke even in the future bitcoin can't really replace the real money in the world and it can really be happen anymore if you guy's are believing that bitcoin can really replace money then it always a rumble or rude to those country who are not using bitcoin. We never know that. Only time can tell. Oldest system are replaced by new ones. I think it can be the same with the current financial system. It can be bitcoin or another cryptocurrency that replaces fiat. |
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Legendaris
Newbie
Offline
Activity: 56
Merit: 0
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October 26, 2016, 04:18:15 PM |
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Bitcoin will only replace money/fiat if you are making it happen yourself. The governments will never do this because they have no control over bitcoin at all. Therefore they will never replace fiat with bitcoin. Only you can change what currency you prefer and what you're going to pay with.
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daniahya
Legendary
Offline
Activity: 1932
Merit: 1000
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October 27, 2016, 02:31:30 AM |
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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.
Is this a joke even in the future bitcoin can't really replace the real money in the world and it can really be happen anymore if you guy's are believing that bitcoin can really replace money then it always a rumble or rude to those country who are not using bitcoin. I think the bitcoin is unlikely to replace the original currency, because of its nature as not real bitcoin, but we also do not know the future, we can only wait for the course |
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Mr. Big
Member
Global Moderator
Legendary
Offline
Activity: 2310
Merit: 1176
While my guitar gently weeps!!!
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October 27, 2016, 05:45:23 AM |
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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.
Is this a joke even in the future bitcoin can't really replace the real money in the world and it can really be happen anymore if you guy's are believing that bitcoin can really replace money then it always a rumble or rude to those country who are not using bitcoin. I think the bitcoin is unlikely to replace the original currency, because of its nature as not real bitcoin, but we also do not know the future, we can only wait for the course Not possible yet...Or,,, not really possible for bitcoin to replace money... How many bitcoins do we need to make all the transactions in real life work... Bitcoin won't be enough to cover it all...Besides, the price of bitcoin would increase a lot, and only few people are holding big amount of it... It's not equally distributed to the world...  |
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