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Author Topic: Is the presence of Bitcoin able to wipe out cash?  (Read 790 times)
micle222 (OP)
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September 27, 2017, 11:21:55 AM
 #1

As it is famous today. that Bitcoin is the solution to the weakness of cash. Many people are switching from cash and using Bitcoin.
If this continues to happen then the cash will be destroyed.
what do you think about it?
will Bitcoin be replacing cash?
what if the cash impact is no longer used?
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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September 27, 2017, 11:27:47 AM
 #2

It is really not that hard to look at the future of Bitcoin, and right now I am seeing that Bitcoin won't replace anything yet. Bitcoin is suited to become an option not a replacement because we are talking about fiat currency where it is an official currency of a certain country. That a decentralized currency where the government does not have any control of won't be even considered as a replacement, it is for our own safety as a currency that is volatile will affect their economy greatly.

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September 27, 2017, 11:30:55 AM
 #3

I do not think that bitcoin will replace ordinary money. The price for one coin is too high and it is used mainly as an investment, and not as a currency for small purchases.

micle222 (OP)
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September 27, 2017, 11:48:42 AM
 #4

I do not think that bitcoin will replace ordinary money. The price for one coin is too high and it is used mainly as an investment, and not as a currency for small purchases.
Yes I think that Bitcoin will not replace cash. Because I know that the government will certainly not allow Bitcoin to dominate the state economy.
But we will face a global market, where everyone is required to compete in trade. I think there is a small chance that Bitcoin will replace the cash even though not everyone is using it.
Thank you for answering.
I am satisfied with your answer.
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September 27, 2017, 11:52:38 AM
 #5

this will never happen, money are way too important in terms of politics, economy and lifestyle.. crypto might become a side currencies but there is no way crypto will replace money in the next century
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September 27, 2017, 11:55:34 AM
 #6

I do not think that bitcoin will replace ordinary money. The price for one coin is too high and it is used mainly as an investment, and not as a currency for small purchases.
Users themselves are to blame. Bitcoin was conceived as a currency. I do not recognize the investment of money in bitcoin investments. This is a speculation. Investments are aimed at development of production and profit due to the development of the real sector of the economy. Speculators do so I transfer the money from one pocket to another. No good for the economy they bring.
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September 27, 2017, 11:55:55 AM
 #7

I think that's impossible because for me Bitcoin is like gold, but if Bitcoin has gained recognition and legality from the world, the possibility of bitcoin could shift the popularity of gold, and maybe conventional money will only be made in exchange rates only ..

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September 27, 2017, 11:57:09 AM
 #8

As it is famous today. that Bitcoin is the solution to the weakness of cash. Many people are switching from cash and using Bitcoin.
If this continues to happen then the cash will be destroyed.
what do you think about it?
will Bitcoin be replacing cash?
what if the cash impact is no longer used?
A big NO. I don't see bitcoin wiping out cash. Instead, bitcoin will be used together with cash in the future (and even today). The main function of bitcoin for people using it is like that of a credit card or bank account. People can keep their savings in their bitcoin wallet and could use them in the future when needed. There's no need to go to banks to deposit or withdraw since people can already deposit their money through remittance centers going to their bitcoin wallet.
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September 27, 2017, 12:05:27 PM
 #9

For me it can't bitcoin can't wipe out the cash. The cash or ordinary money is can't be replace because all people in this earth are using cash and not every buddy knows the bitcoin. Smiley
Charot12345
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September 27, 2017, 12:06:05 PM
 #10

It is true that many people are switching from cash to bitcoin but it will not make the cash wiped out. Many people need cash for everyday transaction so it is needed by everyone. Cash can be used by anyone unlike bitcoin that can be used only by the people who have an internet connection and knows what it is. Cash is used for a very long time so it is not easy to wipe it out.

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September 27, 2017, 12:11:20 PM
 #11

I don't believe that BTC will ever do this. Cash could ultimately destroy itself one day however, as all fiat currencies throughout history have collapsed.

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September 27, 2017, 12:12:14 PM
 #12

As it is famous today. that Bitcoin is the solution to the weakness of cash. Many people are switching from cash and using Bitcoin.
If this continues to happen then the cash will be destroyed.
what do you think about it?
will Bitcoin be replacing cash?
what if the cash impact is no longer used?

It takes too much time to see the digital currencies alone instead of cash to utilize in daily usage. If bitcoin make legal in the countries then bitcoin is widely been and people also reduce to use fiat money if they completely understand the growth and potential of bitcoin. When the cash is not been used then bitcoin and other altcoins will mark as their national currency for each of the country.

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September 27, 2017, 12:24:40 PM
 #13

the world are circle as of now but maybe in the near future your prediction dream come true, bitcoin replace as currency in the whole nation its not possible and cash money wipe out, thats one of the reason of bankers hate bitcoin because if the cash wipe out the banks are close, riased the bitcoin bank.
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September 27, 2017, 12:26:56 PM
 #14

The ease of use of cash vs bitcoin will stop that scenario from happening, unless that radically changes. I do believe it can start playing a big role in emerging economies, which in turn forces the more wealthy countries to comply in one way or another.

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September 27, 2017, 12:33:03 PM
 #15

As of now it would be impossible for bitcoin to replace fiat or cash.  Only few of the worlds population uses cryptocurrency nowadays and it would be very hard to live in a world wherein only a few people uses a currency.  Of course it will be a different story if we will be having almost all of the worlds population would use cryptocurrency.  That is why each of us must promote cryptocurrency to everyone.

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September 27, 2017, 12:38:50 PM
 #16

As of now it would be impossible for bitcoin to replace fiat or cash.  Only few of the worlds population uses cryptocurrency nowadays and it would be very hard to live in a world wherein only a few people uses a currency.  Of course it will be a different story if we will be having almost all of the worlds population would use cryptocurrency.  That is why each of us must promote cryptocurrency to everyone.
Yes for now it is impossible because there are many problems in bitcoin that are needed to solve in order to use it easily than cash that can encourage more people to use bitcoin. Bitcoin opens the fast transaction wherever you are but the transaction fees also continues to become high.

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September 27, 2017, 12:43:04 PM
 #17

For me it can't bitcoin can't wipe out the cash. The cash or ordinary money is can't be replace because all people in this earth are using cash and not every buddy knows the bitcoin. Smiley

Bitcoin  can't  replace cash for now and even several years from no as more to be done to fully integrated these cryptocurrency in our current system and technology. It is possible that fiat or cash can become an alternative currency in the future when bitcoin become mainstream.
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September 27, 2017, 12:45:53 PM
 #18

Cash will always be there because I think bitcoin is the second money where each has advantages and disadvantages. So having both is a beautiful thing without having to eliminate each other because both are very important and complementary.

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September 27, 2017, 12:49:21 PM
 #19

For me it can't bitcoin can't wipe out the cash. The cash or ordinary money is can't be replace because all people in this earth are using cash and not every buddy knows the bitcoin. Smiley

Bitcoin  can't  replace cash for now and even several years from no as more to be done to fully integrated these cryptocurrency in our current system and technology. It is possible that fiat or cash can become an alternative currency in the future when bitcoin become mainstream.

Maybe it wont't replace cash but it provide people more cash through bitcoin income online. The advantages thay people see is the decentralized character which every people will benefit from thr freedom of financial capabilities it provided to all of us.
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September 27, 2017, 12:54:33 PM
 #20

Bitcoin cannot wipe out the cash because that is not a possible thing in bitcoin. Bitcoin cannot replace the fiat or cash because it doesn't have that capability to support the people who were be left if there is no cash to be used because bitcoin cost money and a lot of people will not be able to buy it since it is expensive.

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