Why Bitcoin will delete all the others monetary systems ?

[graysato]

This is a great fictional story by the author. I will state this as fictional because I don’t think so there is a chance of bitcoin to vanish other monetary systems . now researchers compare bit coin with gold industry and others but it cant be fully abolished.  We cannot replace our full system with digital currency yes but there is a  chance to face a neck to neck fight but as noone can have supreme power over cryptocurrency so no nation will not be willing to do that. We can get a great example fropm the hidden ammount of Gold stack in US.

[WindowsRepuX]

Bitcoin is truly one of the best monetary system of our time but I don’t think it will be able to remove all other monetary system. Bitcoin is dependent on technology but not everywhere this technology is available yet.

[Irvinn]

Bitcoin can not replace either local currencies or banks. No decentralized crypto currency can do this. Only centralized crypto currency can replace local national money however not banks. Banks will always exist as long as they are needed by the state. Such thoughts will simply remain, reflections and the matter here is not in the expenditure of electricity. With the help of renewable sources of wind and sun, you can get as many as you want. The fact is that the decentralized crypto currency itself can not replace national money, because it will be a failure for the economy of the state. It can only walk in parallel with the national money of the state.

[Adeforever]

Mind you in this world, everybody cause traffic to whatever believe they have on something. Bitcoin is good and OK but deleting all the other monetary system, will and can never possible. Before the advent of bitcoin something had been in use and presently bitcoin can not be acquired direct without use something as exchange.

[GhostAltCoin]

It seems you are very desperate about bitcoins success. By the way I don’t think it will ever delete any monetary system. I think one day it will replace  them or will be used as an alternative as bitcoin will be more famous than other currency. 

[kucritt]

bitcoin wouldn't delete the monetary system in the world, why? we can see that if there are no monetary system in the world, it will ruined all world because there are the monetary system that can't manage money in a world, crisis in many country, inflation, and many others

[Pursuer]

it will never be either kill or be killed in the real world. there will always be a middle ground. bitcoin is not going to ever kill or delete or anything else the monetary systems and it doesn't matter how many numbers to mention about the energy usage or the transactions processed by each,... in the end bitcoin will remain the only decentralized currency of the world while the same centralized monetary systems still exist and continue working like before.

[CripplesPlazma]

Actually bitcoin will not delete anything. It will develop itself to attract everyone to use it and thus other monetary can be replaced. But those will not be deleted from anywhere. It will act as a parallel way of financial activities.   

[jakezyrus]

simply because bitcoin is the best among the rest when it comes to payment method , not only payment method but bitcoin can also do other  amazing things that any monetary system cant possibly do . bitcoin is slowly deleting the tradional money on most countries because we can now see that majority of people are now using bitcoin whenever they make a purchase online or offline . when the right time comes , only bitcoin will remain alive and even credit cards/debit cards , paypal , payza ,etc will also become obsolete because of bitcoins dominance .

[CorneliaMarket]

No I don’t agree with this. Yeah it’s true that bitcoin is much efficient than current banking system but these will always exist. And bitcoin is never meant to delete or remove other monetary system. It is just another way of currency. 

[kzozenberg]

This is possible but not in the nearest 5-7 years, for sure . But this is real because bitcoin is very easy to use and transactions around the world

[xanaxxx]

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 !

it's surely very efficient, yet there is room to improve. But it doesn't mean it's not good enough as it's, we just need tp push for mass adoption in order to help the people to understand how to use it

[Bitcoinislife09]

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 !

It is good to set goals like that most importantly because we are users of bitcoin per se and we are all experiencing what bitcoin has done in our lives. Yet you cannot please everybody and let them accept your thoughts. Personally, what I aim for bitcoin is to be acknowledge worlwide and be accepted in the circulation of currency in the market. Educating others is what we can do to help bitcoin. Let us help not just ourselves but also what we can do for bitcoin.

[Lisedc]

I don’t think bitcoin gonna delete any other monetary systems. It is not possible to remove all currencies worldwide replacing bitcoin but btc can be one of the big currency in upcoming world.

[Bere ice]

It is not so easy task to delete all the monetary systems from the world. The possibility is both Btc and monetary system will exist side by side. Btc will rise in future but cann’t beat other monetary systems.

[carrascos]

did not know about this information but apparently bitcoin really is the most economical system but the question is when it becomes more scale how much it will consume energy

[anti76]

You deserve respect.You have chosen the right course.By the way I never saw statistics on energy in the Bank and the level of carbon dioxide!I would like to see a link to this study.Bitcoin is a symbol of the coming age of Aquarius.

[rabia_laskor]

I think because of bitcoin some monetary systems will be eradicated. It will create its own system which is totally developed by bitcoin. Some people thought that bitcoin delete the current currency but you have to know that bitcoin works parallel with existing currency.

[charlemagne_15]

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.

[jpnl0006]

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