Ladyechy
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June 04, 2018, 07:51:36 AM |
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I think it is not, and it will never happen. Since most countries do not legitimize bitcoin, Bitcoin also has some problems such as having no underlying and not centered. In addition, bitcoin does not have a deposit and credit mechanism like conventional currency. Bitcoin currently exists as an alternative currency, especially digital currency. In terms of function, bitcoin is considered only able to meet some of the functions of currency that is as a means of payment. Bitcoin exchange rate changes over time and fluctuates. In the future Bitcoin will remain one of the alternative currencies.
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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Johnny_ric0
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Activity: 39
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June 04, 2018, 08:30:51 AM |
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We are living in digital world, but I guess Bitcoin will not replace fiat money completely - as it was not intented to do so. In my opinion Bitcoin will serve well as store of value (despite its actual volatility) and other cryptocurrency with higher transaction speed and lower fees could replace part of fiat money in our everyday lives.
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jcarlo
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Activity: 798
Merit: 10
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June 04, 2018, 08:31:36 AM |
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Is there a chance, that bitcoin will replace the fiat money? and why?
I think its hard to replace fiat money. Bitcoin is decentralized cryptocurrency and no one authorities can control the bitcoin supply. If bitcoin replacing fiat money, i think thats mean bitcoin controlled by government and central banks. Its hard to control bitcoin because the data spread all around the world |
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Haxor321
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June 04, 2018, 09:01:54 AM |
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Is there a chance, that bitcoin will replace the fiat money? and why?
] I think yes, there will be a chance that bitcoin will be the alternate currency to fiat money because as for the percentage of it's adaptation I recognized that day by day there will be the increasing volume which is means that in its everyday performance there are continuously adaptations happened so I believe that there are the bid chances that it will be considered as a world wide currency in the future specially when it is much enhanced and developed. |
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ayubadairo
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Activity: 21
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June 04, 2018, 09:07:13 AM |
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Is there a chance, that bitcoin will replace the fiat money? and why?
Fiat currency is issued by governments. And let's face it, no government has ever really attained immortality. If a government falls apart or gets replaced for whatever reason then its old currency becomes worthless. |
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Dr.Osh
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Activity: 2688
Merit: 1004
Sugars.zone | DatingFi - Earn for Posting
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June 04, 2018, 09:18:10 AM |
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Is there a chance, that bitcoin will replace the fiat money? and why?
] I think yes, there will be a chance that bitcoin will be the alternate currency to fiat money because as for the percentage of it's adaptation I recognized that day by day there will be the increasing volume which is means that in its everyday performance there are continuously adaptations happened so I believe that there are the bid chances that it will be considered as a world wide currency in the future specially when it is much enhanced and developed. I think that some people who use bitcoin feel that bitcoin is the best place to make fiat money that they have. well, i do that too, and it really is a very good thing. I feel that many people are connecting between these things. |
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BagzMM
Member
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Activity: 378
Merit: 10
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June 04, 2018, 09:18:41 AM |
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Is there a chance, that bitcoin will replace the fiat money? and why?
In my opinion, this can't be happen. Bitcoin is a digital money or shall we say decentralized crytocurrency in which people transacts though internet access. Technology keeps evolving that makes bitcoin alive. While a fiat money is a currency for legal tender has been declared by the government. |
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TooDumbForBitcoin
Legendary
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Activity: 1638
Merit: 1001
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June 04, 2018, 09:27:16 AM |
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I never understood why people want/need/think about this. If even this happen in future our generation would not have a chance to see that
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naughty1
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June 04, 2018, 09:41:19 AM |
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Is there a chance, that bitcoin will replace the fiat money? and why?
No, it's totally wrong, bitcoin can not replace fiat. There is not any way to make bitcoin a substitute for cash. Any change will lead to enormous effects on the economy of each nation. |
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Ronaldcoin2017
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June 04, 2018, 09:48:55 AM |
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Is there a chance, that bitcoin will replace the fiat money? and why?
No, it's totally wrong, bitcoin can not replace fiat. There is not any way to make bitcoin a substitute for cash. Any change will lead to enormous effects on the economy of each nation. Yes i avree on that, bitcoin can not replace the fiat money because they have different feature and different Stan. I think we need to make sense of it. Both bitcoin and fiat money is really important to us bitcoin is becoming more important and it is really become a part of our human life it is slowly becoming more precious to us. Because it helps us a lot. |
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sandisunny
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Activity: 97
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June 04, 2018, 10:09:58 AM |
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It will not be possible for bitcoin to replace fiat money considering not every body is internet inclined and besides network will definitely pose as a threat. Come to think of it will the economically active poor use bitcoin? i guess your answer is as good as mine, definitely NO. I believe bitcoin is going to complement the fiat money but overriding it, i don't think is going to be possible anytime soon or else bitcoin becomes flexible i.e having the paper form and the crypto but until then fiat money will still be very much in existence.
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Papri Ghosh
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Activity: 7
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June 04, 2018, 10:11:26 AM |
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Is Bitcoin gaining importance over Fiat money? Is the dependency for Bitcoin increasing?
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Eijrafarm
Newbie
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Activity: 224
Merit: 0
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June 04, 2018, 10:19:05 AM |
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Is there a chance, that bitcoin will replace the fiat money? and why?
I think bitcoin can't fully replace FIAT money but we know that change is coming so I think we would embrace the new innovation which is bitcoin and let it live with harmony of FIAT money. I don't think it would be a bad idea this way. |
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Doterti
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Activity: 65
Merit: 0
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June 04, 2018, 10:24:33 AM |
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Is there a chance, that bitcoin will replace the fiat money? and why?
I think bitcoin can't fully replace FIAT money but we know that change is coming so I think we would embrace the new innovation which is bitcoin and let it live with harmony of FIAT money. I don't think it would be a bad idea this way. We all know that fiat money is present in our society nowadays but how much more in the end of the day or the years passed by the BTC will be released and to be used daily by the people because of its value and its currency. Change is constant. |
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babyaia
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Activity: 164
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June 04, 2018, 10:37:57 AM |
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As of now for me there is no chance that bitcoin will replace the fiat money because not all of us can still access bitcoin,there are people that can not afford access it.But i am not closing the possibility.
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malbterxic
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June 04, 2018, 10:58:11 AM |
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any fiat money of this or that state is not only a means of payment, they also reflect the financial situation in the country and the amount of national money depends either on the size of the army or on the country's gold and foreign exchange reserves, issuance and movement of fiat funds controls and regulates a certain body in each country, for example, the US Federal Reserve or the central bank in the Russian Federation, and so on, the bitcoins can not be controlled, respectively, they can not replace the national currencies.
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Ararbermas
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June 04, 2018, 11:27:52 AM |
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Is there a chance, that bitcoin will replace the fiat money? and why?
no mate 'cause bitcoin is a decentralized currency and so volatile which is unlike fiat currency , and also the common reason why it cant replace fiat it is because bitcoin can be used to any bad manners such buying illegal stuff through internet which no one can identify the buyers and etc. That's why some of the government banned it due to that reason even bitcoin value is so high than fiat. |
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TommyAMD
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June 04, 2018, 06:23:40 PM |
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I think it is impossible that bitcoin has replaced Fiat money not one Bank of any government will not go for it. Bitcoin is not yet recognized in most countries and it is not a fact that it will be recognized.
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freakcoins
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Activity: 188
Merit: 0
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June 04, 2018, 06:28:45 PM |
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Is there a chance, that bitcoin will replace the fiat money? and why?
I think it will never be happen that bitcoin can replace fiat,as we know fiat is instant youbcan have it anytime qhike in bitcoin or any cryotocurrencies you cannot get it automatically you must wait for the high value before you convert it,and you cannot use it instantly. |
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