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Author Topic: Why Bitcoin will delete all the others monetary systems ?  (Read 1311 times)
charlemagne_15
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September 06, 2018, 11:25:06 PM
 #61

Bitcoin won't delete any other monetary systems and even if it one day replaces them this will not happen in any of our lifetimes. From an efficiency point of view bitcoin will only become more favourable when compared to cash as there are more advances in tech and as renewable energy sources become more common. Cash will always require some substance such as paper (coming from trees) whereas if electricity is renewable then bitcoin will have very little environmental negatives.

I couldn't agree more. Honestly, the question was asked thousand of times in this forum and again my opinion to that will stay the same. Bitcoin will not erased all the monetary systems because first of all I don't think that was the purpose of it. For me, bitcoin is just another currency or alternate money. It is just more favorable due to the more secure and you have the full controllarity to it and can go anonymously. So bitcoin will not delete any monetary system.

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September 06, 2018, 11:27:22 PM
 #62

with the degree of solutions the blockchain technology is proffering to loads of challenges in the world and with the disruption in the financial system of the global economy, it can only be said that bank will either adopt the new system or phase out of the financial system

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September 08, 2018, 06:48:22 AM
 #63

Bitcoin may run its own monetary policy. In the future, it totally run by its own technology. Some government set law that bitcoin and national currency can run smoothly together.
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September 08, 2018, 07:17:59 AM
 #64

I recently read [/] "An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network" , from Hass McCook .

In this book , he made a detailed study about estimating the durability and cost of the Bitcoin network.
He compares Bitcoin against the gold industry, the banking system and the production of physical currency.
And , Bitcoin is by far the most energy efficient monetary system we have ever made !
Here are some numbers:

Banking system: 23340 million GJ (energy consumed) + 390 million T of CO²
Bitcoin mining: 3.6 million GJ (energy consumed) + 0.6 million T CO².

 Grin Grin Grin

I don't know yours opinions about that , but I'm really excited , I want that erveryone know that !  Grin Grin


I know guys that it's really hard to delete these systems , and maybe not possible , I just think Bitcoin is the best system , and I just want to share my opinion , to touch a lot of people , and sensibilize them , it's important.
Nowadays , a lot of people are still thinking that Bitcoin is a scam , " a bubble" , they don't know the technology , they speak before learning , they don't understand and don't want to understand.
And I want to educate these people, it's my mission , and I sware iI will succeed : my goal is that people understand what is the potential of Bitcoin !


I don't see anything to be rejoiced about here. The fact is bitcoin is not replacing or deleting any other financial system especially fiat. The worst case scenario would be they both coexist which is something that I see happening. The banks would eventually adopt the blockchain technology to do the same thing they are currently doing but this time, in a more efficient and secure way that is made available by blockchain. The reason for that is simple the technology is open source which makes it easy for any intelligent developer to work on it and for banks that have either in-house team of developers or dedicated consultants for that purpose, there won't be any serious issue in getting a solution.

Your statistics sound right but decisions such as this are not made bases on statistics alone because it goes to the very foundation of the country if they are deleting their own financial system.
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September 08, 2018, 10:05:36 AM
 #65

I recently read [/] "An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network" , from Hass McCook .

In this book , he made a detailed study about estimating the durability and cost of the Bitcoin network.
He compares Bitcoin against the gold industry, the banking system and the production of physical currency.
And , Bitcoin is by far the most energy efficient monetary system we have ever made !
Here are some numbers:

Banking system: 23340 million GJ (energy consumed) + 390 million T of CO²
Bitcoin mining: 3.6 million GJ (energy consumed) + 0.6 million T CO².

 Grin Grin Grin

I don't know yours opinions about that , but I'm really excited , I want that erveryone know that !  Grin Grin


I know guys that it's really hard to delete these systems , and maybe not possible , I just think Bitcoin is the best system , and I just want to share my opinion , to touch a lot of people , and sensibilize them , it's important.
Nowadays , a lot of people are still thinking that Bitcoin is a scam , " a bubble" , they don't know the technology , they speak before learning , they don't understand and don't want to understand.
And I want to educate these people, it's my mission , and I sware iI will succeed : my goal is that people understand what is the potential of Bitcoin !

Maybe its possible for bitcoin to delete other monetary system but it will take a long time. Maybe in the future, no one knows. Yes bitcoin is efficient but some people will continue to invest in banks because they think its much safer than bitcoin. In fact, that is just an opinion so its depends on us if we are going to believe that or not.

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September 22, 2018, 12:43:23 PM
 #66

Simply because bitcoin is the best among the rest when it comes to payment methods, not just the payment method, but bitcoin can do other great things that any currency system can not. can do. When the right time comes, only bitcoin will remain alive and even credit / debit card, paypal, payza, etc. will also become obsolete because of the bitcoin dominance.
stayeduptolate
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September 24, 2018, 12:00:13 PM
 #67

I recently read [/] "An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network" , from Hass McCook .

In this book , he made a detailed study about estimating the durability and cost of the Bitcoin network.
He compares Bitcoin against the gold industry, the banking system and the production of physical currency.
And , Bitcoin is by far the most energy efficient monetary system we have ever made !
Here are some numbers:

Banking system: 23340 million GJ (energy consumed) + 390 million T of CO²
Bitcoin mining: 3.6 million GJ (energy consumed) + 0.6 million T CO².

 Grin Grin Grin

I don't know yours opinions about that , but I'm really excited , I want that erveryone know that !  Grin Grin


I know guys that it's really hard to delete these systems , and maybe not possible , I just think Bitcoin is the best system , and I just want to share my opinion , to touch a lot of people , and sensibilize them , it's important.
Nowadays , a lot of people are still thinking that Bitcoin is a scam , " a bubble" , they don't know the technology , they speak before learning , they don't understand and don't want to understand.
And I want to educate these people, it's my mission , and I sware iI will succeed : my goal is that people understand what is the potential of Bitcoin !

We all know that there are lots of investment methods available in the market and there are millions of people around the world who are investing into these investment like the most popular one of the present times is gold investment then comes the investment into stocks and then the most successful one that most of the businessmen are engaged in, is bank investment as they feels that there money is safest there but now comes the future investment and that is crypto investment and now is has become so popular and successful that it is now considered as a superior of all kind of investment.

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