Bitcoin Forum
October 17, 2018, 09:52:23 PM *
News: Make sure you are not using versions of Bitcoin Core other than 0.17.0 [Torrent], 0.16.3, 0.15.2, or 0.14.3. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: What happens if Bitcoin replaces USD?  (Read 89 times)
denneappeltje
Newbie
*
Offline Offline

Activity: 22
Merit: 0


View Profile
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?
There are several different types of Bitcoin clients. Server-assisted clients like blockchain.info rely on centralized servers to do their network verification for them. Although the server can't steal the client's bitcoins directly, it can easily execute double-spending-style attacks against the client.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1539813143
Hero Member
*
Offline Offline

Posts: 1539813143

View Profile Personal Message (Offline)

Ignore
1539813143
Reply with quote  #2

1539813143
Report to moderator
1539813143
Hero Member
*
Offline Offline

Posts: 1539813143

View Profile Personal Message (Offline)

Ignore
1539813143
Reply with quote  #2

1539813143
Report to moderator
no0dlepunk
Sr. Member
****
Offline Offline

Activity: 476
Merit: 258

I AM CASHLESS!!!!


View Profile
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.

███████████████████████▄▄▄
████████████████████████████▄▄
███████████████████████████████▄
████████ ▀█▀▀▀███████████████████
██████ ▀█▄     ▀████▌    █████████
███████▄      ▄██▀▀█▌    ██████████
███████     ▄██▀   █▌    ██████████
███████    ▐█▀     █▌    ██████████
███████    ▐█     ▐██    ██████████
███████    ██▌         ▄ ▀█████████
███████             ▄▄ ▀█▄████████
███████████████████████▄█████████
███████████████████████████████▀
████████████████████████████▀▀
███████████████████████▀▀▀
Digiwage
▬▬▬▬▬▬▬   ANN  Whitepaper  Twitter  Discord  Reddit   ▬▬▬▬▬▬▬
Decentralized Freelance Workplace










███████████████████████▄▄▄
████████████████████████████▄▄
███████████████████████████████▄
████████ ▀█▀▀▀███████████████████
██████ ▀█▄     ▀████▌    █████████
███████▄      ▄██▀▀█▌    ██████████
███████     ▄██▀   █▌    ██████████
███████    ▐█▀     █▌    ██████████
███████    ▐█     ▐██    ██████████
███████    ██▌         ▄ ▀█████████
███████             ▄▄ ▀█▄████████
███████████████████████▄█████████
███████████████████████████████▀
████████████████████████████▀▀
███████████████████████▀▀▀
Join our
Workplace










kangjiasg
Full Member
***
Offline Offline

Activity: 182
Merit: 101


Exclusive Member


View Profile
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

mrcryptosocial
Newbie
*
Offline Offline

Activity: 17
Merit: 0


View Profile
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
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250



View Profile
October 30, 2017, 12:28:57 PM
 #5

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.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!