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Author Topic: What happens if Bitcoin replaces USD?  (Read 85 times)
denneappeltje
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October 30, 2017, 11:42:50 AM
 #1

Imagine that in the future Bitcoin or an other currency actually replaces the currencies we know today like EUR or USD.

What will back/define the worth of one Bitcoin/crypto?
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no0dlepunk
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October 30, 2017, 12:14:03 PM
 #2

Imagine that in the future Bitcoin or an other currency actually replaces the currencies we know today like EUR or USD.

What will back/define the worth of one Bitcoin/crypto?
Nothing, we decide the value of bitcoins, the market cap serves as proof that it has a value unlike fiats which are said to be representation of gold reserves. So what will happen if Bitcoin replaces fiat? The rich will no longer be as rich as they used to be, and the early adapters of bitcoin will enjoy the perks of believing in it.

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kangjiasg
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October 30, 2017, 12:16:05 PM
 #3

Then those bitcoin holders will be super rich because the value of bitcoin will shoot up to the sky. But it is very hard to replace USD though they keep printing the fiat. Let's look forward to what is going to happen in the near future

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October 30, 2017, 12:17:02 PM
 #4

Imagine that in the future Bitcoin or an other currency actually replaces the currencies we know today like EUR or USD.

What will back/define the worth of one Bitcoin/crypto?
But you need to understand there are huge diffrance between crypto currency and fiat currency.
Usd can never be replaced cause government involved in this.
Also we always need a currency for our banks, donot we?
hualangktsld841
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October 30, 2017, 12:28:57 PM
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Hope that not too long time, we can see Bitcoin used to replace the dollar, pounds, yen, mark and so on.
Banknotes are made by a country, representing the country's ability to buy. However, the notes are not everyone can control, so this five years, the world printed too much paper money. I feel that the purchasing power of paper money is declining every day. However, Bitcoin will not depreciate. Because it is the same amount, it is the whole network together with the results of computing power, can be understood as all the computer to calculate a trust results, so the whole network is still, I think, bitcoin will slowly replace the notes.

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