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Author Topic: if bitcoin will become the main coin, what will happen to the money we are using  (Read 1392 times)
jonathan6655321
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September 12, 2017, 09:00:55 AM
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i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?

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September 12, 2017, 09:19:56 AM
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i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?

As far as cryptocurrency is concerned, there is no doubt that Bitcoin is the first and the most known coin of all times...it is currently the King of all Cryptos and all the rest are just considered to be altcoins (even including Ethereum and BCH). Now, maybe you have in mind is the fiat or paper money we are now using...what will happen to the US Dollar if all the people of the whole world would suddenly be using Bitcoin?

Well, to answer that question I am giving you another question: Would that really be possible to happen? And my answer is a big NO. I know that Bitcoin may have a good future as a digital currency but it will never totally replaced the fiat money issued and backed by the state power. They may exist alongside each other peacefully but killing each other fatally may not be on the menu.

We have to understand that for as long as there is a government they need something that they can control with because control is an extension of power. Take away that control and the government may itself irrelevant so would the government relinquish the control it needs via the fiat money. Of course not.

I also believe that rather than make the government the central enemy, it would be good for the Bitcoin movement to make it a little friend on its side by giving in to some regulations and some compromises so it may not suffer the fate of being banned. Please give my regards to China!
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September 12, 2017, 09:20:56 AM
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i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?

You forget that the biggest driver behind fiat money is the government. As long as taxes are due to the government and they have to be paid in fiat, there will be use for your dollars and euros. No government is going to accept that bitcoins are more valuable than the fiat they print; hence the government will continue to accept fiat money at least for taxes and penalties.

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September 12, 2017, 10:06:48 AM
 #4

i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
It will still exist for quiet a few years and yes It will disappear once the government feels that there is no need of paper currency, as it is the evolution of money.
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September 12, 2017, 10:28:30 AM
 #5

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

As far as cryptocurrency is concerned, there is no doubt that Bitcoin is the first and the most known coin of all times...it is currently the King of all Cryptos and all the rest are just considered to be altcoins (even including Ethereum and BCH). Now, maybe you have in mind is the fiat or paper money we are now using...what will happen to the US Dollar if all the people of the whole world would suddenly be using Bitcoin?

Well, to answer that question I am giving you another question: Would that really be possible to happen? And my answer is a big NO. I know that Bitcoin may have a good future as a digital currency but it will never totally replaced the fiat money issued and backed by the state power. They may exist alongside each other peacefully but killing each other fatally may not be on the menu.

We have to understand that for as long as there is a government they need something that they can control with because control is an extension of power. Take away that control and the government may itself irrelevant so would the government relinquish the control it needs via the fiat money. Of course not.

I also believe that rather than make the government the central enemy, it would be good for the Bitcoin movement to make it a little friend on its side by giving in to some regulations and some compromises so it may not suffer the fate of being banned. Please give my regards to China!

Agree, I've seen this topic many times in different way. I wonder why bitcoin will effect the fiat. Of course bitcoin will not replace the fiat , I will also ask you a question. If there is no us dollars, How do you know the price of the bitcoin ? Bitcoin just like a stock, but you can use it like currency. But it will not change local currency at all.
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September 12, 2017, 10:31:18 AM
 #6

i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
It will still exist for quiet a few years and yes It will disappear once the government feels that there is no need of paper currency, as it is the evolution of money.
Paper currencies are costly, there have even been underground storages for emergency reserves, in the rare case of a war happening. During war time it's custom to airdrop counterfeit money bills onto the opponing population (World War 2). That reserve would have been a complete replacement paper bill.
Those preparations costed millions, and decades of maintenance, without beeing of any use so far. Last hundred years!
Safe forms of electronic money could replace that.

However, in such a scenario a blockchain might not be workable anymore, on each grocery shop.
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September 12, 2017, 10:34:57 AM
 #7

i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
although we know that not really happen or impossible in my opinion about your question if bitcoin is the main coin the money that we using now is maybe disappear if the time when the bitcoin is main coin the money that we use now is only an antique money but what happen to the products. all products and things in market in cyberworld etc. will be higher because bitcoin has a higher crypto currency i think that all products and things will be go up

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September 12, 2017, 11:18:58 AM
 #8

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

Bitcoin is a crypto currency and it's valued in dollars and other currencies, so nothing is going to happen to going to happen them, as they both are different, dollars are going nowhere, they will be as it is safe and sound unless Kim Jong decides otherwise, till then all seems good for the dollars. You just need to be patient and not worry, dollars is getting stronger, Bitcoin won't every replace dollars but Bitcoin shall give you the increment that dollars can never give you.

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September 12, 2017, 12:11:28 PM
 #9

I think both can be used together because not everyone knows and has a bitcoin so real money will still I use. in addition, bitcoin users will become confident because it can be used for transactions directly.
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September 12, 2017, 12:18:03 PM
 #10

if you're expect bitcoin will be replace fiat someday i think you were expect too much for cryptocurrencies and for me there is no digital currencies could be instead of fiat however although if this is happened the money still valuable and there is a possibility for bitcoin and fiat are walking together and equally popular
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September 12, 2017, 12:44:06 PM
 #11

Bitcoin being the main coin I guess only uncertain predictions. Especially considering the use of Bitcoin that must use the device. Local money will still be loved and widely used as the main currency. Because the original will not be replaced by something intangible.

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September 12, 2017, 12:46:34 PM
 #12

then the money you'll using will be a side coin. lmao  Cheesy Cheesy Grin Grin

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September 12, 2017, 12:48:37 PM
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paper currency is very important to enrich the government .. I find it difficult to make bitcoin
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September 12, 2017, 12:50:31 PM
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It would still be US Dollars if Bitcoin would be the main coin, I don't think our own currencies has any title of which is the main coin or minor coin in a country. For as long as it can still be used by the people then it would still be the same currency we are using now. It's just that Bitcoin will just be one of the most popular and widely used just like the US Dollars.

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September 12, 2017, 12:51:21 PM
 #15

i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
It won't anything happen. Bitcoin still bitcoin and money still money. They play a complementary role.
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September 12, 2017, 12:51:39 PM
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i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?

To be honest, it is more complex than that, USD or any fiat currencies is simply not on the league to compete in a technological sense, what the fiat have is just the government.

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September 12, 2017, 12:53:48 PM
 #17


Bitcoin is not a bubble, it's the pin!
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September 12, 2017, 12:56:43 PM
 #18

i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
I don't think bitcoin will be the main coin. If it really become, I think all people in the world will change their cash to bitcoin  Cheesy

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September 12, 2017, 01:01:56 PM
 #19

I think that bitcoin will not replace fiat money. Because the government will be difficult to set the fluctuating bitcoin. Possible bitcoin just as a complementary money only.

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September 12, 2017, 01:09:24 PM
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It will take a very long time to completely get rid of fiat money.
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