renggileh
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August 27, 2018, 09:54:41 AM |
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cryptocurrency will never be able to dominate fiat currency, it was used much longer before bitcoin was created.
let bitcoin become an investment. bitcoin is a tool to make a lot of fiat money, in my opinion. everyone has a different view about this.
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I HATE TABLES I HATE TABLES I HA(╯°□°）╯︵ ┻━┻ TABLES I HATE TABLES I HATE TABLES
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mockcooleat
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August 27, 2018, 11:00:31 AM |
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As soon as the government recognizes the bitcoin as a legitimate digital currency that is the time that bitcoin will totally replace the fiat money. As we can see now slowly but surely the world is accomodating digital transaction and not needing a cash or fiat money involved with those kind of transaction, with this it proves that bitcoin and crypto currency will soon be in-demand and would be a part of our day to day transaction.
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Bonpay (OP)
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August 27, 2018, 11:50:22 AM |
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cryptocurrency will never be able to dominate fiat currency, it was used much longer before bitcoin was created.
Previously there were coins (golden, silver, etc.) which were used much longer before dollar was created. So this is a question of possible usability, but not how long we used it. |
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LastKiss
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Binance #Smart World Global Token
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August 27, 2018, 12:07:09 PM |
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Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy. So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison. I thought the source from well-known website but it's not lol  . It's not needed to replace FIAT money with bitcoin, I dont know what will happen in the future if this world using bitcoin as their payment with it's low/limited supply. Make it as our alternative payment will be the best for us at the moment, IMO. |
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fargoway
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August 27, 2018, 01:26:16 PM |
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I thought the source from well-known website but it's not lol . It's not needed to replace FIAT money with bitcoin, I dont know what will happen in the future if this world using bitcoin as their payment with it's low/limited supply. Make it as our alternative payment will be the best for us at the moment, IMO. Bitcoin has more important disadvantages then just limited supply. Actually, I don't think it is a problem at all, but long transactions and too high cost per transaction are an issue. Moreover, there are no reasons of having multiple currencies to pay with, because this is just additional troubles with exchanges, rates, ATMs, or even Banks if we are talking about fiat. |
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djcounter
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August 27, 2018, 01:33:29 PM |
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As Bitcoin is useful also has disadvantages. It's true that one of bitcoin features is anonymity, but it can also be used in money laundering activities.
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izanagi narukami
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August 27, 2018, 01:39:09 PM |
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IMO, it can replace fiat because bitcoin is just an asset just like other investment tool like diamond,gold ,etc
Although I'm also expecting it can be legalize but it's impossible.
Remember that bitcoin still volatile !
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Chachen19
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August 27, 2018, 01:40:13 PM |
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Bitcoins have been around since 2008, but it's only a short time, but the bitcoin value is increasing over time and what they bring us is very useful. Fiat money can fluctuate. Commodity money is supported by something of value.
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131tc01n
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August 27, 2018, 01:59:18 PM |
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bitcoin is already known as crypto currency, I don't think this can be changed and does not need to be changed, if bitcoin becomes a fiat currency maybe the vision and mission applied by satoshi will not be realized, bitcoin is better to become crypto currency, bitcoin doesn't need to be more fiat both bitcoin is recognized for its legality in the world and various countries
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Bonpay (OP)
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August 27, 2018, 02:53:02 PM |
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bitcoin is already known as crypto currency, I don't think this can be changed and does not need to be changed, if bitcoin becomes a fiat currency maybe the vision and mission applied by satoshi will not be realized, bitcoin is better to become crypto currency, bitcoin doesn't need to be more fiat both bitcoin is recognized for its legality in the world and various countries
Oh, I believe you got it a bit wrong. The idea was to fully replace fiat with cryptocurrencies or only Bitcoin, so there will be no need in traditional money anymore. The vision of Satoshi was to provide people with safe p2p transactions which could be good for a new payment system, that's why this idea, in fact, follows his vision. |
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QuppyTeam
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August 27, 2018, 03:13:22 PM |
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Bitcoin will never replace fiat, fiat is number one for everyone, always
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Epimetheus
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August 27, 2018, 05:25:10 PM |
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Bitcoin is digital currency also know as electronic currency where as fiat currency is known as physical currency. Bitcoin is also known as decentralised currency which means it doesn't under control of any kind of government where as fiat currency are under control of government. Fiat currency can be duplicate but bitcoin cannot be duplicate because of its digital nature. Bitcoin is not a global currency because of its decentralised nature it is doesn't accepted everywhere but fiat currency is accepted is everywhere.
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ayambawang
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August 27, 2018, 05:34:06 PM |
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indeed, I know that BTC was created to become a digital currency that can replace the existence of fiat money which is considered a source of misery such as debt, for example, but in reality it is not easy, eliminating fiat currencies is not an option at the moment, it is very impossible to at present, what can happen for now is that btc and fiat money can run together and complement each other's shortcomings, even though that is not the main goal btc was created at least so we will get the benefits of btc in real
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Criptomen
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August 27, 2018, 08:31:15 PM |
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If bitcoin once can supersede Fiat, it will not be in the near future, the world is not at that technological level of development. Yes, there are countries where this is partially possible, but most are not ready for this.
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rosemary4u
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August 27, 2018, 09:13:19 PM |
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I think bitcoin and fiat currency should also exist side by side. Bitcoin can be used as a global currency for various business transactions and payment of services just like any other fiat currency.
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josephdd1
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August 27, 2018, 09:21:08 PM |
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In the current time Bitcoin can't exist without fiat because bitcoin is relative to USD and at least for the nearest future one can't separate the two as different entities because BTC is very much depended on fiat.
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xWolfx
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Donating 10% to charity
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August 27, 2018, 09:23:11 PM |
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I'm surprised by the amount of knowledge inside this community about what is the best way of doing this in the future.
Of course Bitcoin side by side with fiat will create the necessary ground for everybody to win and be happy, letting people choose what they want to use for payments and transactions instead of pretending to shove it down their throat. This are different times.
It's what the future demands, the ones who try to resist will find themselves wasting time.
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Xardasim
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August 27, 2018, 09:33:36 PM |
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I don't fully believe that we will use digital money which can't be managed in the future.
The first way is that every government creates its own digital money and use it instead of paper money. But it doesn't seem it will be free as Bitcoin does.
The second way is Bitcoin will be used, but the limits will definitely be used. Because, stability will be a necessity, so you can use it for daily shopping.
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IndoUSminus
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August 28, 2018, 01:30:57 AM |
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Bitcoin cannot replace fiat because Btc lacks some important features for that:
- stability;
- paper form for offline transactions;
- is not backed by gold.
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C0ld_Zero
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August 28, 2018, 02:38:53 AM |
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I dont think bitcoin can replace fiat money. Fiat monetary standards enable the government to have a lot of control of their economy.
They can choose to print progressively or remove some from the economy through banks. A cryptocurrency would need to be connected to their fiat cash and be absolutely controllable, for a government to permit it instead of their fiat, however that would essentially be a fiat at any rate. So we would require new enactment or new governments.
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