Is bitcoin a threat to USD and Pound Sterling?

[PokerStein1]

Bitcoin may be a thread to paper money not as a currency. If usd and other currencies will change their shape they can be succesful too. But Bitcoin will be huge because of limited cap.

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[audaciousbeing]

Why does everything have to be about competition? Why can't bitcoin, USD, Pounds and other currencies available in international trade can co-exist in making life easy for everyone. You want to send money out of the country to pay for goods no matter the amount that is to be transferred without having to fill unnecessary paper works and some decent amount as fees, use the bitcoin, you want to buy something in the grocery store next door, there is no point of having to use bitcoin where you have to log in, transfer, wait for confirmation or argue about the exchange rate, just use your dollar or Pounds without any issue. From the above scenario while they are currency of transactions, they complement each other rather than competing with each other.

[Marry Finch]

In my opinion, at some point people will prefer virtual currencies, since it will be easier and safer to own them than banknotes, especially in remote regions, and also because these currencies may become more stable over time.

[senin]

Bitcoin does not threaten the dollar, the euro or the pound sterling. These coins will continue to exist, but bitcoin will push them slightly. I think that every type of currency will take its own niche in the financial world and all of them will walk and be used in parallel with each other. In any case, it will be in the near future.

[Tylev]

In my opinion, at some point people will prefer virtual currencies, since it will be easier and safer to own them than banknotes, especially in remote regions, and also because these currencies may become more stable over time.

The Crypto-currency, if it remains decentralized, will never be more stable than now. In addition, with an increase in its price, its volatility will only increase, as with increasing in price, the amplitude of the price fluctuations of the crypto currency will also grow. Moreover, the crypto currency can not be more stable than the dollar, euro or pound sterling.

Also forced to question your claim that virtual currency is easier and safer to own than banknotes. What is easier to do: get a bill from the wallet and pay for some goods, or make a transaction in bitcoin for a purchase? How many transactions will take you and what commission fee will you pay for this transaction? At the same time, you pay the bill very quickly and do not need to pay any commission fee for it. In addition, you need to first the seller dropped your address of the bitcoin purse on your mobile phone or laptop, because it is very difficult to enter it manually. Is this a long and paid procedure much easier and safer? I doubt it.

[Steamtyme]

I don't know that bitcoin in its current form is a threat to either.

Given enough time and bip's they might make it viable, but that depends a lot on global adoption which will be the biggest hurdle I think.

I currently like it as a complimentary system that bridges the globe for sales and transfer of funds eliminating a 3rd party.

[aitrading]

It's not a threat to USD. BTC is great, more safe choice for the humanity. And solution for global issues as poverty, for example.

[juiceannabel]

Hello guys,

Do you think bitcoin will be a threat to USD and Pound Sterling in the nearest future?

if yes, give an estimated time this can happen.

not a threat i guess, bitcoin and crypto is supporting the fiat currency for now.
peoples buy bitcoin with fiat. and many exchange of cryptocurrency that support fiat pairs too.
but we dont know if it will still support for fiat or not in the future.

[TheGodFather]

Hello guys,

Do you think bitcoin will be a threat to USD and Pound Sterling in the nearest future?

if yes, give an estimated time this can happen.

To me it is not a threat, but there might be some instances that the cryptocurrency and the currency of pound and dollar may overlap amd cause some confusion if not regulated correctly. To me, I would like to think that the bitcoin or the cryptocurrency market would be a supplement not a hindrance to the development and to the help of the market. What should be done, is for the goventments to have a regulation to have specific limitations to both of them

[Abigail Asi]

I think it's not a threat to USD. They all have space which in the future one can help in the exchange of the other

[ROB18]

Well if bitcoin will be in mass adoption and merchants/people around the world will use it and will be a sort of currency or international legal tender then I guess it's a threat. But I'm sure Government will have it's way how to manipulate or world in line with the current technology in order not to affect the economy. They know's the game.

[crossabdd]

I don't think bitcoin is a threat to USD or POUNDSTERLING. because they have different characteristics. if bitcoin is accepted all over the world, I think it keeps going with real currency (USD, POUNDSTERLING, etc) because basically bitcoin is created to help real currency transactions. and facilitate payments, and transfers away.

[Sirait]

Hello guys,

Do you think bitcoin will be a threat to USD and Pound Sterling in the nearest future?

if yes, give an estimated time this can happen.

maybe I can not be sure exactly when the threat will be visible to the common people, but since the first time Bitcoin existed, Bitcoin has actually become a threat to the Bank, the currency currently in circulation, and the current financial system, we just wait when it looks more real...

[hadveach]

not just a threat for USD and pounsterling, but bitcoin is a threat to all fiat currencies.

but they know that to drop the bitcoin value is very easy, because bitcoin is very sensitive to the negative factors that affect it. just by making a bitcoin user panic, then its value will fall, because nobody is covering bitcoin.

bitcoin can attract investors and the world's attention because of the blockchain system with the decentralized concept that canmake volatility quickly.

[Marma Kalari]

Do you think bitcoin will be a threat to USD and Pound Sterling in the nearest future?
if yes, give an estimated time this can happen.

Bitcoin is not meant to be a treat to any traditional trading currency, it is created to trade freely throughout the world without the help of a third person or a bank and that is the main advantage we have to take rather than thinking it will replace dollar or pound, the options people will be having when it comes to international trading will be the main difference between fiat and crypto.

[Stormyblue]

It would be a threat a to USD, Pound Sterling and probably all that fiat currencies. Although this isn't the motive or idea behind Bitcoin, Bitcoin has the capability of remitting all the challenges that people face with fiat currencies and offer the revolutionary decentralized system with easy, safe and secure ways of transacting peer to peer, business to business among others with no intermediary. So with all said, the ideals of Bitcoin is to make the financial transactions better than we experience with fiat currencies

[TepungBeras]

I guess that's not true and bitcoin will never be a threat to any currency, because I know between bitcoin and USD, and between those currencies will have their respective roles.

[Mujensirio]

bank dont accept btc as a currency

[KingScorpio]

Hello guys,

Do you think bitcoin will be a threat to USD and Pound Sterling in the nearest future?

if yes, give an estimated time this can happen.

jes it is

i expect that the american and british central bank system might completely collapse as they all are based on gambling,

and they might have to be rebuild completely

if then a new us dollar and a new pound comes out that is being paid to the corporate labourers,
we can then expect a high price rise.

it would be called a monetary reform.

but the banking cartels in those countries are in my oppinion irrepairable broken, and decadent. so will not be easy.

[Hirameki]

Sometimes there are people who think like that, but I think that is not a threat to the dollar, because I think all have their own place in the use of this currency.

Yes it is as mentioned by OP, the dollar would be replaced by cryptocurrency since it is not controlled or regulated by any country. If you are a country of course you will want to transact to something that is not controlled by anyone specially if you love democracy. It is something that cryptocurrency gives us, the independence of transacting online without the worries of controlling by anyone.