Is Bitcoin the next big thing?

[Hydrogen]

Bitcoin might excel if currencies like the dollar et al trips under a hyperinflation scenario but that for now is not visibly an option that is available, thus, another fundamental question is wether Bitcoin can replace normal currencies and that again is not feasible in the nearest future. Why then should people invest in or buy a currency that can rise or fall by 20 percent in an hour or two?

In 2017, we've seen russia, china and even venezuela transition from denominating their oil transactions in US dollars to denominating oil transactions in the yuan(chinese currency). Some might say the move away from the petro dollar many nations are taking is intended to protect their respective economies in case the US dollar hyperinflates or defaults.

With america being more than $20 trillion dollars in debt and the European Union being something like $17 trillion in debt, it may be more likely that both will default rather than find a solution to their debt troubles. Politicians continue to try to raise taxes and spend their way out of debt and that guarantees inevitable default if things don't change.

At least that's how I see it. Would be interested in hearing alternate points of view on this.

another fundamental question is wether Bitcoin can replace normal currencies and that again is not feasible in the nearest future. Why then should people invest in or buy a currency that can rise or fall by 20 percent in an hour or two?

Paper currency transactions are, in my opinion, more efficient and effective in certain roles producing economic benefit than electronic transactions. There is no advantage to eliminating all paper money & there are many economic, financial and business drawbacks should that be the route we take.

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[antagonist]

For those who argue that Bitcoin and other cryptocurrencies are the next big things, buying and investing in Bitcoin might just pay off. Bitcoin might excel if currencies like the dollar et al trips under a hyperinflation scenario but that for now is not visibly an option that is available, thus, another fundamental question is wether Bitcoin can replace normal currencies and that again is not feasible in the nearest future. Why then should people invest in or buy a currency that can rise or fall by 20 percent in an hour or two?

lol maybe you are 7 years late with question like this one
this kind question is very much like old mentalities of peoples from 2011 days , in this day and age we all understand it that bitcoin IS the big thing not "next" big thing like you are asking
obvious bitcoin is most vibrant industry in entire world in this day and age.

i do not care if bitcoin replace Kuwaiti Dinaar or any other currency ,, only thing to me that matter is positive world change that is create so that my children can enjoy best life possible in this world

[bololord]

For those who argue that Bitcoin and other cryptocurrencies are the next big things, buying and investing in Bitcoin might just pay off. Bitcoin might excel if currencies like the dollar et al trips under a hyperinflation scenario but that for now is not visibly an option that is available, thus, another fundamental question is wether Bitcoin can replace normal currencies and that again is not feasible in the nearest future. Why then should people invest in or buy a currency that can rise or fall by 20 percent in an hour or two?

For sure that after 5 years or 3 years bitcoin is become a big thing for all people like gold because the price is so high and all people can get money by trading so i think trading someday will become a new real job for all people.

[maaydin]

The simplest answer is to get rich because when an investment is volatile and increases and decreases within hours than people can earn too much but at the same time loss to much as well. So big risk huge earnings.

[Celebrity]

When we begin paying our taxes out of BTC, that is the moment when it had become 'the next big thing'

Not really. Who on earth will use his precious coins to pay their by-government-created debt? And if I remember correctly, there is already a country where you can use Bitcoin to pay your due taxes up to a certain amount. If we go by your logic, it means that Bitcoin has been 'the next big thing' for quite some time already. Aside from all this, Bitcoin is already in progress to become the next best thing, and that's by people utilizing Bitcoin's technical aspects (e.g. currency aspect, store of value aspect, voting and proof of identity purposes, etc). The more people utilize Bitcoin, the more valuable it becomes, it's that simple.

Nice said. The idea behind is simple, the demand and its reaction by the market. If more demands creates which is now happenning, the price goes even faster. For the adoption, we need more people in bitcoin so that more people use it. And it won't replace fiat.

[Charisse1229]

Yeah for sure bitcoin is the next big thing. Becuase it is have big impact in industry, bitcoin poyential has like a rocketship that go to moon. Now bitcoin price is around $19000+ this is the biggening  that bitcoin is the next big thing.

[irsada]

now bitcoin has become a big thing in my opinion in this year so many people who talk about it.
if bitcoin replaces paper money I do not think so.
what is the purpose of paper money in replace?
better to use both because no one is at my disadvantage.

[Emem29]

For those who argue that Bitcoin and other cryptocurrencies are the next big things, buying and investing in Bitcoin might just pay off. Bitcoin might excel if currencies like the dollar et al trips under a hyperinflation scenario but that for now is not visibly an option that is available, thus, another fundamental question is wether Bitcoin can replace normal currencies and that again is not feasible in the nearest future. Why then should people invest in or buy a currency that can rise or fall by 20 percent in an hour or two?

Maybe bitcoin is the next big thing. I think bitcoin is not much more impact in industry, becuase some country will not know about bitcoin. But if bitcoin become most papular currency in the whole world, i think this is the most valuable and the most papular and the most BIG Thing in the world.

[pugi2]

For those who argue that Bitcoin and other cryptocurrencies are the next big things, buying and investing in Bitcoin might just pay off. Bitcoin might excel if currencies like the dollar et al trips under a hyperinflation scenario but that for now is not visibly an option that is available, thus, another fundamental question is wether Bitcoin can replace normal currencies and that again is not feasible in the nearest future. Why then should people invest in or buy a currency that can rise or fall by 20 percent in an hour or two?

Bitcoin is already a big thing so not next a big thing.
Look at the price of it and how it affect to people life, you will know why bitcoin is already a big thing.

[Dodoymabs]

When we begin paying our taxes out of BTC, that is the moment when it had become 'the next big thing'

Not really. Who on earth will use his precious coins to pay their by-government-created debt? And if I remember correctly, there is already a country where you can use Bitcoin to pay your due taxes up to a certain amount. If we go by your logic, it means that Bitcoin has been 'the next big thing' for quite some time already. Aside from all this, Bitcoin is already in progress to become the next best thing, and that's by people utilizing Bitcoin's technical aspects (e.g. currency aspect, store of value aspect, voting and proof of identity purposes, etc). The more people utilize Bitcoin, the more valuable it becomes, it's that simple.

Nice said. The idea behind is simple, the demand and its reaction by the market. If more demands creates which is now happenning, the price goes even faster. For the adoption, we need more people in bitcoin so that more people use it. And it won't replace fiat.

Just because it's holiday season and many btc holders are now using btc which in effect the reason why its in hyperinflation. It's true that btc is now in demand and probably it will be the next big thing but I doubt that it will replace fiat. Instead, it will help the economy become stronger.

[player514]

When we begin paying our taxes out of BTC, that is the moment when it had become 'the next big thing'

Not really. Who on earth will use his precious coins to pay their by-government-created debt? And if I remember correctly, there is already a country where you can use Bitcoin to pay your due taxes up to a certain amount. If we go by your logic, it means that Bitcoin has been 'the next big thing' for quite some time already. Aside from all this, Bitcoin is already in progress to become the next best thing, and that's by people utilizing Bitcoin's technical aspects (e.g. currency aspect, store of value aspect, voting and proof of identity purposes, etc). The more people utilize Bitcoin, the more valuable it becomes, it's that simple.

Nice said. The idea behind is simple, the demand and its reaction by the market. If more demands creates which is now happenning, the price goes even faster. For the adoption, we need more people in bitcoin so that more people use it. And it won't replace fiat.

Just because it's holiday season and many btc holders are now using btc which in effect the reason why its in hyperinflation. It's true that btc is now in demand and probably it will be the next big thing but I doubt that it will replace fiat. Instead, it will help the economy become stronger.

I think that if we give it enough time, it's possible for crypto to replace fiat. For me, it just depends on how tech-dependent the world becomes. If we end up relying on tech for most of our lives and actions, then it makes sense for money to be controlled by technology as well. If it isn't bitcoin, I'd say that bitcoin is at least a stepping stone into something bigger to replace fiat within the next century or so. Probably not next year or even the next decade; that's a little too soon.

[eloymjb]

 even now you can tell it to your self that bitcoin is a big thing. and i assure all of you in the next few years bitcoin will be expand all over the world and most of people and government will use it as a legal currencies that more convinient than flat.

[jaysabi]

For those who argue that Bitcoin and other cryptocurrencies are the next big things, buying and investing in Bitcoin might just pay off. Bitcoin might excel if currencies like the dollar et al trips under a hyperinflation scenario but that for now is not visibly an option that is available, thus, another fundamental question is wether Bitcoin can replace normal currencies and that again is not feasible in the nearest future. Why then should people invest in or buy a currency that can rise or fall by 20 percent in an hour or two?

Crypto is in a mania phase. Everyone has a fear of missing out on all the money they think every one is making. People counting on hyperinflation are going to end up sorely disappointed. If QE didn't cause it, there's no foreseeable catalyst that can cause it. QE has now wrapped up, there's been hardly even regular inflation, and nothing above the long term target inflation rate. So like you said, Bitcoin is extremely unlikely to replace or improve upon fiat, and it remains only a speculative vehicle with no inherent value. The price level is supported with unbridled enthusiasm. Everyone believes it can't go down, or if it does, it'll just pop right back up. It's not like that's never burned a market, right? [/sarcasm]

[ActiveWizard77]

That's what I was thinking. There's no telling when this craze will end, but as long as greed is more dominant, we'll see prices continue to go up until the smell of fear overtakes greed.

[gigatux]

Bitcoin is really a BIG thing! it's tremendous success helps a lot of people with their daily lives especially that it is free from the goverment's control and is decentralized. BUT, bitcoin is not made to replace any cryptocurrency. I think currently first place are fighting over or between over etherium and bitcoin. and I think it is not made to replace fiat but it might on future upcomings.

[Harlot]

The risk shouldn't be the question here as we all know what reward we can get if we executed the trade properly. As you can see Bitcoin is a good example of a high risk high reward type of investment/trade as people who buy at the right price will surely gain and people who buy it at a high price might even still gain as it is on a uptrend and there is no showing that Bitcoin it will correct. Now it will depend on the person if he is still willing to enter Bitcoin even when the prices are this high. 

[mia khalifa]

For those who argue that Bitcoin and other cryptocurrencies are the next big things, buying and investing in Bitcoin might just pay off. Bitcoin might excel if currencies like the dollar et al trips under a hyperinflation scenario but that for now is not visibly an option that is available, thus, another fundamental question is wether Bitcoin can replace normal currencies and that again is not feasible in the nearest future. Why then should people invest in or buy a currency that can rise or fall by 20 percent in an hour or two?

the next bitcoin will be more expensive in 2018 is likely early in 2018 prices are slightly shaken but at the end of the year prices jumped back up, save as much bitcoin as possible.

[wawanwawan96]

For those who argue that Bitcoin and other cryptocurrencies are the next big things, buying and investing in Bitcoin might just pay off. Bitcoin might excel if currencies like the dollar et al trips under a hyperinflation scenario but that for now is not visibly an option that is available, thus, another fundamental question is wether Bitcoin can replace normal currencies and that again is not feasible in the nearest future. Why then should people invest in or buy a currency that can rise or fall by 20 percent in an hour or two?

because someone thinks investing in bitcoin will get a lot of profits quickly then than that many are investing in bitcoin in thought just a profit no one knows when bitcoin down badly.

[aizen10]

well bitcoin cannot replace our traditional normal currency, but they adopt bitcoin for more convenience to use, like we can carry a large amount of money while we are in other country using this bitcoin, we can send/receive money where ever we want in an instant way with no tax implemented. and i personally invest in bitcoin for so many reasons, even the volatility of bitcoin comes every minutes, i always had a chance to change my future life by investing in bitcoin, and i do believe and continue believing in this bitcoin.

[Anait]

Right now itself I find bitcoin to be the innovation of the present as well the big thing of the ongoing year. The technology along with the growth has made it more popular and in specific it has been getting termed to be an advancement for the growing population.