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Author Topic: Bitcoin the future of money  (Read 110 times)
andyosh
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August 03, 2018, 09:02:19 AM
 #1

Not sure if this has been posted here before. This video is a debate between Peter Schiff and Erik Voorhees about whether or not bitcoin or another crypto currency will eventually replace gov fiat money as an exchange of value.

The moderator is clearly biased and quite annoying with his interruptions but the debate is really fascinating (well, for me anyway). Who here has watched it and does anyone like Peter:) ?

https://www.youtube.com/watch?v=q8R71WGO3qU

Enjoy.
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August 03, 2018, 09:05:17 AM
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Never BTC can become the future of money, I think they are a bit complicated and risky so fiat is still the main currency and has the highest liquidity.
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August 21, 2018, 12:07:33 PM
 #3

Not sure if this has been posted here before. This video is a debate between Peter Schiff and Erik Voorhees about whether or not bitcoin or another crypto currency will eventually replace gov fiat money as an exchange of value.

The moderator is clearly biased and quite annoying with his interruptions but the debate is really fascinating (well, for me anyway). Who here has watched it and does anyone like Peter:) ?

https://www.youtube.com/watch?v=q8R71WGO3qU

Enjoy.
Why people are not able to realize that cryptocurrencies or Bitcoin can never replace fiat currencies. I think it is impossible. The present system of currencies being used as a medium of exchange is very simple. But cryptocurrency market is quite complex which makes it unsuitable to be used as a currency. There are many features of cryptos that have to be considered like decentralization, unregulated, no fixed standards, etc.

vlad230
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August 21, 2018, 12:40:05 PM
 #4

Never BTC can become the future of money, I think they are a bit complicated and risky so fiat is still the main currency and has the highest liquidity.
I think saying that BTC can never become the future money is a bit harsh.

Certainly it cannot replace FIAT right now because it is still extremely volatile thus, will not work to be paid in it for the work you perform.

If you think of the mean of payment mankind used along the centuries from basic exchange of goods, silver/gold coins, bank notes to the credit cards of today, do you remember how skeptical people were when the credit cards were introduced? I remember it quite well, everyone was paranoid that the computers will be stealing their money and it will be the end of the world....

Do you think having a credit card with bitcoin on it would be such a big leap from the current approach? I think not.

ambisyon
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August 21, 2018, 12:57:10 PM
 #5

I believe btc in the coming generation may perhaps be considered as the future of money that is a digital currency that people will be patronizing. However, in the current situation btc is still under development and volatility is still a hindrance that could hamper the btc market to stabilize it's price value.

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August 21, 2018, 01:19:53 PM
 #6

Not sure if this has been posted here before. This video is a debate between Peter Schiff and Erik Voorhees about whether or not bitcoin or another crypto currency will eventually replace gov fiat money as an exchange of value.

The moderator is clearly biased and quite annoying with his interruptions but the debate is really fascinating (well, for me anyway). Who here has watched it and does anyone like Peter:) ?

https://www.youtube.com/watch?v=q8R71WGO3qU

Enjoy.
Fiat Currency cant never be gone or replaced. People mentality actually they want a real, can touch can see. fiat currency are much more better than cryptocurrency. we know that crypto can lessen the hassle because it can be use through online. but not all of the people cant access to internet and dont know how to use it. that's why fiat currency cant be replace by cryptocurrency. As long every country considering fiat currency in the world it never be gone.

aoihs00
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August 21, 2018, 01:25:46 PM
 #7

Seen it.

Its meaningless to debate over this because fiat and crypto characteristic do not match up and the way bitcoin works is completely different than the current fiat system.

It can not fulfil the requirements of the normal user because its usability is not upto the qualification of the fiat. The centraslied nature of the fiat makes it far more easier to handle the real time request of the fiat transaction. Plus physical appearance and use of the fiat makes it more familiar and valid.

Crypto has none of them.



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lenini
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August 21, 2018, 01:39:00 PM
 #8

In the coming years, Fiat is gradually depreciating, bitcoin will become an increasingly popular choice for global savings. Then the national money can be replaced by bitcoin, it will move from the status of the repository of value to the common means of exchange. It is quite possible.
bitmover
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August 21, 2018, 02:09:18 PM
 #9

I think fiat money will always exist.

Bitcoin will be an interesting payment method, especially for tourists or anyone else who comes from a country that uses other fiat.

Bitcoin, for the next years, will be more like a payment method. Its adoption will grow as a payment method for next years, until there is a vast network of companies and stores that accept bitcoin.

Probably a future economic crisis will hasten bitcoin adoption and bitcoin as an investment will get even more media attention.

There is a long way to go until bitcoin can even dream about replacing most fiat uses.

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August 21, 2018, 02:24:22 PM
 #10

Seen it.

Its meaningless to debate over this because fiat and crypto characteristic do not match up and the way bitcoin works is completely different than the current fiat system.

It can not fulfil the requirements of the normal user because its usability is not upto the qualification of the fiat. The centraslied nature of the fiat makes it far more easier to handle the real time request of the fiat transaction. Plus physical appearance and use of the fiat makes it more familiar and valid.

Crypto has none of them.
Yes, it's been a long time here debating if bitcoin will become a future money, which really has a big difference between these two currencies if you compared this into traditional currency which is fiat and the digital currency which is bitcoin.

Bitcoin is a digital or virtual currency that uses cryptography for security and has a transparency transaction. A cryptocurrency is difficult to counterfeit because of this security feature and uses a great technology that is called blockchain. A defining feature of a cryptocurrency and arguably its most endearing allure is its organic nature, it is not issued by any central authority also rendering it theoretically immune to government manipulation.

Traditional or fiat currency has none of them. Grin Grin

1NV3ST0NM3
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August 21, 2018, 06:43:22 PM
 #11

Not sure if this has been posted here before. This video is a debate between Peter Schiff and Erik Voorhees about whether or not bitcoin or another crypto currency will eventually replace gov fiat money as an exchange of value.

The moderator is clearly biased and quite annoying with his interruptions but the debate is really fascinating (well, for me anyway). Who here has watched it and does anyone like Peter:) ?

https://www.youtube.com/watch?v=q8R71WGO3qU

Enjoy.
Why people are not able to realize that cryptocurrencies or Bitcoin can never replace fiat currencies. I think it is impossible. The present system of currencies being used as a medium of exchange is very simple. But cryptocurrency market is quite complex which makes it unsuitable to be used as a currency. There are many features of cryptos that have to be considered like decentralization, unregulated, no fixed standards, etc.

CryptocitySL
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September 05, 2018, 06:38:48 PM
 #12

The future is good. Bitcoin is a coin that can be successful. bitcoin is currently used around the world. Bitcoin is full of investors. It's because of the strength of this coin that people are willing to invest in this. This coin is very good in value. People expect higher profits and trustworthiness. There are both properties in bitcoin. The future is also satisfactory. The value of this coin is also confirmed by the coin becoming more demanding. Bitcoin is very important to all of us. You can earn a lot of money in the short and long term, investing bitcoin
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September 05, 2018, 08:08:53 PM
 #13

I will say YES because bitcoin is an evolution of paper currency. I am sure you will think like that too. right
Claudyah
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September 05, 2018, 08:23:08 PM
 #14

Not sure if this has been posted here before. This video is a debate between Peter Schiff and Erik Voorhees about whether or not bitcoin or another crypto currency will eventually replace gov fiat money as an exchange of value.

The moderator is clearly biased and quite annoying with his interruptions but the debate is really fascinating (well, for me anyway). Who here has watched it and does anyone like Peter:) ?

https://www.youtube.com/watch?v=q8R71WGO3qU

Enjoy.
In my opinion, bitcoin is an advantage for the future, but it does not mean to replace fiat currency, because not all people use crypto digital coin, and in any country the fiat currency is the icon for the country, it definitely does not want to be replaced
aoluain
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September 05, 2018, 09:58:46 PM
 #15

Never BTC can become the future of money, I think they are a bit complicated and risky so fiat is still the main currency and has the highest liquidity.
I think saying that BTC can never become the future money is a bit harsh.

Certainly it cannot replace FIAT right now because it is still extremely volatile thus, will not work to be paid in it for the work you perform.

If you think of the mean of payment mankind used along the centuries from basic exchange of goods, silver/gold coins, bank notes to the credit cards of today, do you remember how skeptical people were when the credit cards were introduced? I remember it quite well, everyone was paranoid that the computers will be stealing their money and it will be the end of the world....

Do you think having a credit card with bitcoin on it would be such a big leap from the current approach? I think not.

IMO i cannot see it happening either, not with a currency which has a limited supply
and which at the moment is expanding its supply but when fully mined the availability
will shrink.

I cannot see any government accepting something which is decentralised in place
of an alternative which they can control.

Also I fear bitcoin will become less like a currency and more of a commodity as
its value rises over time.

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September 06, 2018, 12:21:33 AM
 #16

That is too complex but maybe a good thing. But we cannot underestimate the essence of touchable moneys. For small amounts, this is what we need in trading. But if in high amounts, we may use bitcoin.
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September 06, 2018, 01:54:17 AM
 #17

let's think positive and forward, bitcoin cannot replace paper money in some countries and paper money will always be universal money until the Day of Judgment because the picture of the banknote is a hero of the country and has a fixed and unchanging price, so bitcoin is a payment instrument alternatives like PayPal but cannot replace paper money.
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September 06, 2018, 04:53:56 AM
 #18

The future of Bitcoin will largely depend on which use case it becomes used more frequently as. There seem to be two major examples of use cases for Bitcoin. One is of a medium of exchange and one is of a store of value.

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September 06, 2018, 05:48:57 AM
 #19

Nowadays most of the process and project change digital ways. So bitcoin is important of the future purchases and some purpose. Now most of the transaction is online process. So people need for new way to process. So bitcoin is good investment.

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