Why Bitcoin will delete all the others monetary systems ?

[stayeduptolate]

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.

 

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


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 !

Bitcoin was introduced in 2008 and that time it was considered as a alien technology and no one was ready to believe it and those who believed bitcoin that time are now bitcoin billionaires and now the bitcoin is most successful and the most powerful crypto currency and the most investing investment of all and due to its huge potential, it has been used by millions of people for investment and due to its numerous of advantages, it will replace all the Fiat currencies available in the market.

[CoinOnTheBeach321]

As far as i know bitcoin will not delete all the monetary system and i believe after some years later bitcoin will become the biggest system.

[BitcoinMaster555]

You have got the thing wrong. BTC will not delete the monetary system. It will in fact revolutionize the monetary system and will unite the globe with one currency, that is crypto.

[Luckycoins999]

Bitcoin will never delete the other monetary systems. I believe that, Bitcoin and fiat money should run side by side for a better economic system. It will not remove other monetary systems but there is a possibility that it might become the greatest payment system of them all.

[cryptocrabs2]

This is really a valuable talk. I also agree with the statement that many people think that bitcoin as well as crypto currency is a scam out of ignorance or negative word of mouth. Bitcoin will not delete all the monetary systems but it will try to reduce the gap between poor and rich.

[steve_rogers321]

Bitcoin will not delete all other monetary system. In fact it is here to make the lives of the people better and is there to eliminate the rich poor gap. It has been the alternative for the people who were unable to find a work in the first place.

[MoneyCryptor520]

This is really a true fact that most of the people misunderstood bitcoin along with crypto currency. But your initiative is really nice and appreciable. If everyone tries to do this from their place then this will really help to change the notion of the people regarding bitcoin.

[hahay]

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.

 

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


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 !

Yes, because the banking system has long been operating, therefore the banking system has consumed a lot of energy, in that data you do not make it in more detail, such as how long it takes until when the energy is consumed, bitcoin is still in a lower count in consuming energy because bitcoin is indeed recently operated differently from banking. We know that the energy for crypto miners also requires high or large energy, so there are still weaknesses and deficiencies in each of them.

[alanfox]

I'm partially agree and think, Crypto oneday, will delete all other monetary systems , if todays crypto can dictate over current currencies very fast.You will be very happy to know that most of the ig companies accept crypto, Most of the countries make it valid. So i think it's just need time to delete ll other monetary systems.

[jrstrom]

I'm not sure, but i don't think that bitcoin will be able to delete all other monetary systems. Current currency and bitcoin are parallel to their actions.

[Gozie51]

If bitcoin stay side by side with fiat, it will be fine because it will give a large space to compare what cryptocurrency has to offer to the society. But whether it will delete existing payment system entirely is yet to be proved,  it will contribute to it rather.

[erickkyut]

As what I've said to the threads similar to this, Bitcoin will not delete the monetary system. First is because it has been with the civilization eversince. Second, what medium are you going to use to buy cryptocurrency if there will be no monetary or fiat system? The thing that Bitcoin will do is improve the current system and make it more convenient and faster to use.

[louie69]

My opinion to this is no, BTC will not delete any monetary system as per author's subject and BTC was not developed to include such thing. BTC is developed as a payment system and as a currency for people to be able to invest and earn some profit. Moreover, BTC will have to do some innovations and improve the current payment system to become more reliable and faster transaction speeds.

[ginobitcoiner]

who argues like that? I think bitcoin will not be able to erase the existing financial system in the world, although later bitcoin will become a global currency. but that will not change or shift the position of any monetary system

[Crafts12]

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! Bitcoin will not delete all the monetary systems because first of all, the bitcoin was not created to replace paper money but rather as one of the alternate money that focuses on tech or digital money. It will not happen due to not all the people can be or familiarize in accessing it and governments or most of the people won't agree to it. It is just that bitcoin is more complimentary than paper money.

[kaya11]

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.

 

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


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 in your dreams it will come true, it's far from reality and will never happen I guess. Bitcoin is a revolution and most revolutions failed. And Bitcoin is not the best but the first and widely used, there are others that are way faster and cheaper to use than BTC.

[katri]

I won't believed, bitcoin don't have that potential to delete/replace monetary system in the world. It's far from reality. The monetary system were created long time ago and its not that easy to remove in the community. Most of the entire world population is using this kind of system in their lives.

[DarkVampire]

I guess bitcoin might be able to remove the use of paper money unless its transaction costs get higher and higher. If we can keep our coins safe from hackers for day to day transaction and if the governments decides to regulate cryptocurrency then I guess paper money might face a challenge. Bitcoin can remove the needs of other monetary system but it’s going to take a lot of time.

[CryptoSimmonds]

Cryptocurrency like BTC has given people a common monetary system across the globe. But I don’t think any nation would accept this as their main monetary system by leaving all their security concert behind.

[BounderbyMAX]

Even though Bitcoin consumes less energy than many other monetary systems, I don’t think it is capable of removing other monetary system specially the fiat. Still many people trust banking system rather than crypto.