if bitcoin will become the main coin, what will happen to the money we are using

[|Bitkoin|]

if Bitcoin is to become the main coin then the paper money we are using now will become digital currency and will be based off of BTCs value.

[ajmapalo22]

If bitcoin will become the global currency all paper money will be surrendered to central banks the problem is that I don't think bitcoin can sustain the growing demand of all countries the supply of bitcoin is not enough to replace the currencies in the world so maybe this is quite impossible to happen

[BitcoinCommodor]

i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?

old things give their place to the new and better options. that has always been the case of the world. money as we know it today (aka Dollar, etc) have not always been like this. it was not paper printed neatly, it was coins, then before that it was goods and a lot of weird things.
bitcoin or some form of digital cryptocurrency may some day replace fiat too. but it won't be fast and probably not in our lifetime.

If this would happen in near future there would be a great chance to earn profit in BTC more than other currency and I believe this will happen in near future that bitcoin will become the main coin and currency will also get dissolved in the bitcoin to join the race of profit .if this will happen trading will become easy and as the economy goes up.

[super5star]

i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?

Dollar (USD) are not backed by anything so it is just worthless technically but it is used worldwide just because of political power of US government.
US government is actually in $20 trillion+ debt right now because they are printing dollar every year. This can't be like this for next few decades, when bitcoin will be adopted in most of the countries than this dollar or other fiats will be just worthless like it should be.  

Most probably if bitcoin will hold the global world then the currencies will be wiped down and nobody will use them and everybody will invest and change their cash money into the digital one so there is possibility of such a revolution and if this will happen the bitcoin investors will be happy to invest more and more.

[kimpena]

i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?

Our paper money and coin will still be paper money and coin. It will not vanish, and I believe that bitcoin are just digital currencie, unless they release a paper form of bitcoin but as far as I know it will not happen. It will stay as what it is, and the only thing that will change is its value. Just like our paper money, it will stay but its value will change.

[Heyyyrenz]

Actually it's not gonna happen why? We all know that the government needs taxes in order to fund various public expenditures. So if we all work in cryptocurrency world and earn a lot they will not gonna track us because we only use wallet as our identity. So if they can't track us they can't put us a tax and they can't improve the country.

so some of the countries try to ban bitcoin.

[Snaic]

I believe that the usual money will almost always exist along with the crypto currency even when it is recognized throughout the world. Now Sweden and Denmark say that they will completely switch to the digital currency. However, I do not believe in the success of such an experiment. It is simply technically impossible to completely switch to crypto currency.

[pugman]

i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?

Bitcoin ,if it becomes the main coin, then fiat will try to beat it and overthrow it, because like it or not people will support fiat and not bitcoin if there is a world wide poll, people don't like bitcoin because of one, it's related to technology. Two, the amount of FUDs against bitcoin and three, it has no government control. These might add up as a big part and people will be very must against it.

[dothebeats]

I see governments inching ever so close on cryptocurrency seeing the positive benefits of bitcoin plus the blockchain technology which recorded all transactions in a chain. Making their own crypto could potentially replace coins and paper money which also cost a significant sum in production, plus it's easier to tax people seeing their own spending recorded on a chain. Russia is gearing for a head start, and has introduced their plan on creating CryptoRuble, so we aren't really far off from fiat turning into digital money which bitcoin pioneered.

[KourtneyK]

If ever that's the case then I think the money that has been here will always be there but maybe with lesser value than Bitcoin. That is "if" Bitcoin will become the main coin which is too far and impossible to happen. And bitcoin would have to be centralized by then.

[chidrawarster]

Bitcoin will be majorly used as virtual currency for digital transactions as major of the countries still have not made bitcoin as the majorly used crypto currency as paper currency is still more important in daily life. For many of the regulated payments & taxes of governments , paper currency is mostly used .There is still ray of hope for bitcoin in the coming days as demand for the same is day by day booming & most of the merchants may also switch over to this soon. Lets hope for the best.

[malikusama]

i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?

Government of any country or state will never accept bitcoin as a main or national currency because of the following reasons.
1) Bitcoin is decentralized having no central authority to control it, government will never allow a currency which is not in their supervision and control.
2) Transactions are anonymous and it will be difficult or impossible for government to check the transaction details of anyone.
3) Taxation issue. It will be difficult to collect taxes from the users over the network.

[Harrisonimo]

i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
[/quote

Nice one! A good thought for  the future here. That is in perspective that the Cryptocurrency eventually takes over the physical cash we have at the moment. I want to believe that there will be a frame time given for withdrawal of the money from circulation and the chance to have it all converted to Cryptocurrency. After which, a stipulated time can be announced when the money will no longer be valid as a means of exchange.

[Bittoshi]

if Bitcoin is to become the main coin then the paper money we are using now will become digital currency and will be based off of BTCs value.

I also think that more and more fiat currencies will be available in digital form (e.g. in Dubai they start a own governmental cryto currency right now). The value will be measured to bitcoin but the fiat money will still be controlled by the governments.

[Basmic]

Nothing will happen to the dollar and all other national currencies. They all support the national economy and the government will never lose control over them. If I have to ban cryptocurrencies they will do it. The users of cryptocurrencies also earn Fiat to have the opportunity to buy bitcoins. Fiat will never be supplanted by bitcoin.

[Opquar]

Fiat will not die anytime soon, even if Bitcoin reaches mainstream adoption. At worst, it will remain an alternative way to pay. It's worth noting that credit cards and NFC payments were able to decrease fiat use, but not significantly.

[Xervo]

It is difficult to be sure that bitcoin will completely replace our usual paper money. It has already been said that it is more profitable for the government to control money independently, besides, imposing taxes on them. But there is another aspect - the human, in my country the older generation does not even know what e-mail is. Go to bitcoin for them will be something wild, unreal. It is most rational to use bitcoin and our usual money in parallel.

[roshanface123]

In my opinion with in a few years the paper currency will entirely change in to electronic currency .The money transactions will be electronic transaction.As per our economic condition value of currency is increasing ,so may be in future there is a chance  to use bitcoin as main coin......

[FasTroy]

Nothing will happen to the dollar and all other national currencies. They all support the national economy and the government will never lose control over them. If I have to ban cryptocurrencies they will do it. The users of cryptocurrencies also earn Fiat to have the opportunity to buy bitcoins. Fiat will never be supplanted by bitcoin.

You are right, If bitcoin will be the main currency in the world, nothing will be happened, because the real currency cannot be destroyed, We can use our local currency + our bitcoin like an option, so there is no problem at all, I think that one day, bitcoin will be used internationally without any problems.

[Proton2233]

In my opinion with in a few years the paper currency will entirely change in to electronic currency .The money transactions will be electronic transaction.As per our economic condition value of currency is increasing ,so may be in future there is a chance  to use bitcoin as main coin......

The use of electronic currency will not change anything. It does not bring recognition of bitcoin. Electronic money is the same Fiat only in a different format. They also are controlled by the state and similarly affected by inflation. The main difference between Fiat and bitcoin is that bitcoin cannot be obtained without labor, therefore he did not threaten inflation. This is good for users but bad for management of the economy. Bitcoin will never be a primary currency because it will collapse the world economy and the world plunged into chaos.