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

[Ziomuro27]

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.

I think that it may affect our economy because if bitcoin peso will be our main coin what will happen to the main peso that we have industrial part of economy will affected, goverment, and people will change and even though your country we must think first before that happen we never know how it will change someone's life and economy.

[1715661027]

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[Ilegendph]

if main coin that you mean is currency in real world, i think bitcoin cannot replace regular money. because of regulation per region about this currency and its region currency will be crash. im not sure too. that's just my opinion  

The local currencies and cryptocurrencies will coexist because they have both advantages and disadvantages. For example as we see now, cryptocurrency is used like stocks/exchange and many of us earn through this but it is hard to pay  bills using cryptocurrency because of its volatility, and the conversion of cryptocurrency to local currency is necessary to do so because it is more stable and accepted within the countries.

[Yakamoto]

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

If Bitcoin does suddenly happen to replace them, then the various tokens of value that we currently use will more than likely just fade into obscurity as they get replaced by either digital versions of themselves, if it ever makes it that far, or are simply phased out as the demand for them becomes dramatically reduced. Either way, Bitcoin, at that stage in its life, would be replacing them in a way that would likely mean their death, either over a prolonged period or relatively quickly.

[777Bitcoin]

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

It is quite unparalleled to what might happened in the future but seems it was open for discussion, I would like to add my opinion on this one as I have this ideology to informed the uninformed.

(IF) fiat currency (hard paper money) will be replaced with bitcoin are you willing to shoulder the taxes for it. Because that is the end result of it because the government must produce something for the economy. So don’t asked for this kind of bargain if you will complain in the end.

(IF) fiat currency will be worthless, we can display it in frames and hang them around our house. Or you can even used it privately(you know what I mean/like tissue).

So (IF) this idea is not good to bitcoin users like us, so it is much better that it will remain deCENTRALized for long.

[ruskytailz02]

if main coin that you mean is currency in real world, i think bitcoin cannot replace regular money. because of regulation per region about this currency and its region currency will be crash. im not sure too. that's just my opinion  

The local currencies and cryptocurrencies will coexist because they have both advantages and disadvantages. For example as we see now, cryptocurrency is used like stocks/exchange and many of us earn through this but it is hard to pay  bills using cryptocurrency because of its volatility, and the conversion of cryptocurrency to local currency is necessary to do so because it is more stable and accepted within the countries.

agree for these
local money will use to certain country as mode of payment for most of the time
BITCOIN or cryptocurrency will only be alternate if you do not have local money
and to those other crypto will be gone if that will happen

[leonix007]

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

Its indeed the main coin right now, and you are actually witnessing that dollar is still a dollar nothing happens to it, its just that bitcoins is Getting stronger in terms of price per dollar or fiats due to demands, its basically indications that people is now getting to realize its purpose.

[Jaya912]

It will not be affected to fiat money at all. Bitcoin is already main coin but it will not replace fiat money.
If you are still national citizen of your country, mean you still pay tax by your natiaonal money. So fiat money is still exist.

[akija]

There will be always an option to change Your bitcoin for USD or Your Local currency .

If Bitcoin become main Coin its value is going to be increase at great rate and we as an early adopters will get great benefits from that .

[ocid]

As we know, bitcoin is born earlier than other crypto types, but if bitcoin is the main currency in real life that can replace the paper currency we use so far, I think it is impossible because if it happens, life will be more difficult, especially for malakukan barter tool for buying and selling, because bitcoin can only be used with always connected using the internet network while each country has a very limited internet coverage if done by everyone in the world to make daily payments using bitcoin internet connection world. will get worse and we will feel the hard life.
every bank in every country will switch more using digital assets just to simplify its work because paper currency can not be printed anymore because its function is useless if it happens.

[100action]

If that was the case FIAT would become worthless, its value is solely determined by the users (government, constituents etc).

As long as there is a desire for physical assets (i.e. homes, cars, goods), there will always be a centralized currency given the government can regulate physical assets.

[ethereumhunter]

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

if bitcoin become the main coin but its not approve by the government, then the money will still exist and will be used by many people in all country. but if the money is gone and replaced by bitcoin, then the money its no use again. but i think government will not replace money with bitcoin if they can not interfere to the blockchain or with bitcoin itself because they want to take control for crypto currency world but the fact they can't.

[Dilladupak]

if bitcoin will be the main coin, what will happen with the banknotes we use. i think that this will not happen because the amount of bitcoin itself is limited value. / to take the currency in the world. the problem is i do not think that bitcoin can increase because when this is a lot of buyers / many buyers.
if everyone would invest and convert cash into digital money, there is no possibility that such a revolution would happen to bitcoin investing. so there is no problem for me, because bitcoin is already used internationally.

[entrepmind23]

Given the situation, the fiat would be useless because we are only using digital currency. Those fiat money will just be paper with no value. You can keep them as souvenirs but you can't use it to transact anymore just like when new version of bank notes are released, the obsolete ones would be worthless and this will happen also if we totally shift to digital currencies which is unlikely to happen. People would have a hard time transitioning totally to digital currencies due to a lot of factors like lack of tools needed and there would be difficulty in accessing the coins due to limited internet connection.

[Realist247]

if bitcoin will be the main coin, what will happen with the banknotes we use. i think that this will not happen because the amount of bitcoin itself is limited value. / to take the currency in the world. the problem is i do not think that bitcoin can increase because when this is a lot of buyers / many buyers.
if everyone would invest and convert cash into digital money, there is no possibility that such a revolution would happen to bitcoin investing. so there is no problem for me, someday bitcoin will be used internationally.
that's what I'm waiting for.

They really are recruiting hard to get barely literate Filipinos to give nonsensical answers aren't they?

You are Filipino yes?  You have no idea what you are talking about yes?  The way you attempt to write in English totally gives you away.  These sig campaigners are such a waste of space.  Grrrr.

[suvo05]

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 become the main coin in near future. There are some problem
 1. you can not use it when there is no internet. And it is very hard to provide the internet everywhere in the world.
 2. It is hard for a illiterate people to handle bitcoin.
 3. Governments will not allow a decentralised money to rule over the dollar bill.

[gribble]

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

Bitcoins had becomed the main coin in digital currency all of the alternative coins be traded with bitcoins, I think what do you mean with main coin is bitcoins become main currency, the fiat money will be replaced by digital currency bitcoins and fiat money will be useless. It will apply to all of fiat money around the world, it is hopefully of community bitcoins become main currency in the world due to the system of fiat money is broke, it can not be against the crisis of economy.

[bitcoinvamp]

if by any chance bitcoin becomes the main coin the paper currency we use will still be used for some years so that there is no sudden rush . maybe u would have heard about the demonetization that was occurred in INDIA at the end of the last year . i am just saying this because it could be the possibility if paper notes will be no longer required. other than that it is still hard to believe that cryptocurrency can take over the physical currency all over the world

[lincolnmad]

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

Do you mean bitcoin become the main money ? It's impossible to happen i think, because all countries have their own official money and i'm sure they will create their own digital money like dollar that can be used on online. Maybe bitcoin can be the most popular online currency in the future.

[fredrickodo]

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.

[Spaffin]

I do not believe that in the near future the society can completely switch to using exclusively digital technology, including digital money. In life there are different situations and the usual paper money in them is simply irreplaceable. Now some countries, such as Sweden, are trying to switch to digital money, but they are unlikely to succeed.