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RodneyKings
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December 26, 2017, 11:54:49 PM |
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Could Bitcoin ever replace conventional money?
This question is already asked for a few times here as far as I know. In my own opinion, it will not replace a local fiat because it is very volatile. Also, the government won't really agree to it because it is decentralized, they can't control it. If they do control it, then what's the point of having a crypto currency. If it happens that BTC really replaces conventional money then it'll be a major change for the country besides conventional money has been what we're using for centuries now, it'll be hard to replace that. |
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Bitcoinismylife12345
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Activity: 231
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December 27, 2017, 03:25:27 AM |
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No it can't. Even it is a big help to a lot of users as a digital currency, it still has a bad image to the government and other people. It's not capable to replace the conventional money because it's just a money in the internet world and making it real money will be not making sense to its own system. Another is, it has a limited supply and that would be not enough for the whole world population.
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machinationus
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December 27, 2017, 04:42:08 AM |
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unfortunately I do not think I can replace 100% of the money
happen as it is still not well resolved some points to enter as common money.
do not forget that it is a virtual and very volatile currency
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MWesterweele
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December 27, 2017, 05:03:56 AM |
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Today or tommorow bitcoin will be replace as conventional money .the protential of bitcoin is increasing and world most biggest company are acceping it like microsoft and website like streem.
but to be honest bitcoin have to face with goverment because government would definitely want some control over Bitcoins to charge taxes , they won't just allow any decentalised digital currency to overpass their currency.
Maybe because bitcoin has potential to be replace but i think some government will be control it if bitcoin be a conventional money. Maybe if bitcoin is become well develop and not volatile it can be replace as money. |
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abutingting
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December 27, 2017, 05:27:54 AM |
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Bitcoin is a volatile currency, it will not probably me able to be a conventional money globally.
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genology
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December 27, 2017, 05:32:42 AM |
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It is possible but it will take a long time before it does. Looking at it, Bitcoin is better than any physical currency we have. It embraces the digital age we're having. It makes our transactions easier and more convenient to both parties, especially when dealing with huge amounts. You don't have to be physically present in order to transact something.
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sammrheza
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December 27, 2017, 05:45:16 AM |
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no because its volatile is too damn high , bitcoin is better became investment as today ....
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Jeepney_koh
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dApps Development Automation Platform
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December 27, 2017, 06:10:15 AM |
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Could Bitcoin ever replace conventional money?
It has no chance to replace conventional money. Remember that Bitcoin is Digital Money, a cryprocurrency and it only revolves around the digital world. Conventional money revolves around the real world. Bitcoin cant and wont replace conventional money. |
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Blue_oxen
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December 27, 2017, 07:24:17 AM |
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Could Bitcoin ever replace conventional money?
It has no chance to replace conventional money. Remember that Bitcoin is Digital Money, a cryprocurrency and it only revolves around the digital world. Conventional money revolves around the real world. Bitcoin cant and wont replace conventional money. I completely agree with you. Bitcoin can't replace fiat money unless all places around the world have the the Internet. and all people must be educated using Bitcoin. |
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White32
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December 27, 2017, 11:42:35 AM |
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No. Its not going to happen cause uses of conventional money is an ancient form of payment. Money is all acceptable globally while bitcoin has accepted in a limited country and the supply has limited too.
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wendelKray
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December 27, 2017, 11:57:39 AM |
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I highly doubt bitcoin will ever replace conventional money. For money to get to the place where it is universally acceptable with the systems put in place to control it and how to regulate it, it took so much time and awareness. I doubt a digital currency will get to that place any time soon.
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leavolnhals
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December 27, 2017, 11:59:12 AM |
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I think it is unlikely at this time. Because bitcoin is being ignored by the government and has a bad view about it. Because it governs people in opposing the government on money, they do not believe it. Think of the government, do not deposit money into the bank. This makes the government can ban the use of bitcoin in the future.
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konfuci
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December 27, 2017, 12:01:14 PM |
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The amount of bitcoins supply all over the globe are not sufficient to replace conventional/physical money globally and it takes years and years to do so. this will remain as a digital currency as per market research.
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LightNestling
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December 27, 2017, 12:03:42 PM |
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I doubt it can happen now or in the near future. Conventional money is widely and commonly used worldwide. The world I think is not yet ready to accept the digital currency.
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Blockgraham
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December 27, 2017, 12:14:24 PM |
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Hardly is it possible. It would mean lots and lots of people losing their jobs in the financial sphere and this is probably one of the reasons most of the governments are inclined to ban bitcoin. Once the beginning is laid the whole development gains its direction.
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balamuda
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December 27, 2017, 12:22:47 PM |
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Could Bitcoin ever replace conventional money?
Bitcoin can not replace physical money. physical money will remain for small transactions or big deals. Bitcoin is better for investment, if for Bitcoin transactions suitable for large transactions, but if for small transactions it is not good because of the long process. |
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RNGfight
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December 27, 2017, 12:23:44 PM |
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unfortunately I do not think I can replace 100% of the money
happen as it is still not well resolved some points to enter as common money.
do not forget that it is a virtual and very volatile currency
But this is because bitcoin is on the rise, and if more merchants and offline accept bitcoin, then bitcoin will become a new currency, and prices will stabilize. |
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dbutp
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December 27, 2017, 12:55:48 PM |
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In my opinion, bitcoin can not replace conventional money. Bitcoin is a digital money, although it has many benefits, but paper money is the most important, it is convenient in everyday life. It is more convenient than bitcoin in daily trading activities.
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teejaymuna
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December 27, 2017, 12:59:39 PM |
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I don't think Bitcoin can completely replace conventional money. The ease of transaction with Bitcoin is still very slow and most governments are still against it. For it to replace conventional money, it has to be more widely accepted. With time this could be possible but I do not see that happening anytime soon.
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lyks15
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December 27, 2017, 01:56:27 PM |
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I think bitcoin cannot replace any conentional money. Because in any conventional money serves as a trade mark or part of history of every country. Bitcoin can be additional currency or money to country but did not replace conventional money.Bitcoin can exist in a long time like any currency because i saw the numbers of investors it is more than in the multi level marketing ventures or simple networking. And soon bitcoin can face trouble to the government because it is not legal in our country because in their naked eye bitcoin is illegal because it is not taxable.
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