Beating down the U.S. Dollar

[jakelyson]

Bitcoin will not be able to replace fiat, at least not at its current capacity. There is still a lot of things to fix before bitcoin can be used as easily as we use fiat now.

It is better used as an alternative to dollar or fiat than a replacement. As broken as dollar or fiat is, bitcoin still cannot be used to replace it.

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[Adriano2010]

I think no, because bitcoin is volatile, while USD currency is more "stable" than bitcoin, and we need both because US will not accept bitcoin as a currency and also can appear problem of limited supply.

[dothebeats]

Bitcoin can never beat the US dollar in terms of usability, but I'm sure as hell that it already got the regulators and financial magnates thinking. Honestly, bitcoin shook down all the stereotypes the bankers and governments tagged it into, and it just keeps on giving and giving every time. It was a great all-around financial tool, but certainly lacking towards being controlled since that is what most countries needed their money to be in order to adjust depending on the current economic situation. The USD and its fiat companions are excellent at that, though it also brought many problems alongside it.

[D1v4c]

Can BTC restructure a new financial order? Can BTC or another kind of cryptocurrency beat down the U.S. dollar? What's your opinion?

U.S government won't let Bitcoin or any cryptocurrency takeover their fiat. You don't know U.S government can do if you believe it will happen.

[AngellSky]

You should understand that cryptocurrency will be able to defeat Fiat if everyone is interested in it, and government structures will stop influencing it.  but since as many users of cryptocurrency are trying to avoid paying taxes, because they also have a big real business, even today such countries as the United States of America, Canada, the Netherlands, London and Australia are creating an appropriate structure that will fight cryptocurrency abuse  certain people who are trying to avoid taxation ..

[MonsterV]

Can BTC restructure a new financial order? Can BTC or another kind of cryptocurrency beat down the U.S. dollar? What's your opinion?

I think bitcoin was created not for that and bitcoin itself cannot be compared to fiat. Bitcoin was created by Satoshi for financial freedom and Bitcoin itself has a different system, no one even regulates it.
If only true bitcoin can replace the dollar, then how to fix the price of bitcoin? I think these two currencies work together and both are the best in their own system.

[Cuk0ng_bitc0in]

certainly BTC can.  today BTC only needs world recognition to compete with dollars.  we need crypto regulation to increase the popularity of BTC.  BTC will not become a global standard, but BTC will be used for global transactions.

[carrigan]

For this current time, I think that it will be difficult for cryptocurrency to beat down the US dollars. USD is the universal or global currency in the world to be used as a rate. It has been being used for any kinds of payment, transaction, and utility by all societies. On the other side, BTC is a digital money/currency, not all people or merchants will accept this. However, it doesn't also close the chance for the next 10 years maybe.

[Mike Mayor]

Bitcoin will not be able to replace fiat, at least not at its current capacity. There is still a lot of things to fix before bitcoin can be used as easily as we use fiat now.

It is better used as an alternative to dollar or fiat than a replacement. As broken as dollar or fiat is, bitcoin still cannot be used to replace it.

Not right now no. But.... it already is a global currency with no ties to any one country and thus can be accepted anywhere. This has never been done. Currency value has always depended on the culture of the country and how they deal with their economy. Bitcoin is much broader so it makes sense it is volatile right now. Just give it some time we need new adopters and I am sure the halving will make an impact too.

[costanos02]

BITCOIN  exist with no intention on beating down other currencies, bitcoin was being design to become one of the fast and reliable payment for any transaction and hassle free and its still keeps on developing, or shall we say soon bitcoin is the other side of USD, most trusted and most valuable currencies as of today.

[Caladonian]

U.S Dollar is the sign of power while bitcoin is a sign of freedom, there's no need for bitcoin to beat dollar as they can coexist together and let the
people decides which payment process to use when adoptions for bitcoin will take place around the world.

[MbakNarti]

For now it seems very difficult to beat or take the position of the US Dollar. Because it's still too early for Bitcoin for that, and it's still not accepted throughout the country. Especially in the case of buying and selling goods in the real world everyday. The possibility is very small and almost impossible.

[sri.bima]

Can BTC restructure a new financial order? Can BTC or another kind of cryptocurrency beat down the U.S. dollar? What's your opinion?

First you have to distinguish between fiat currency and cryptocurrency. It is likely that BTC can restructure the new financial order, but all require a not short time process. Need a process for uniform adaptation, but to beat the US dollar, it's very difficult !!

[pushups44]

Can BTC restructure a new financial order? Can BTC or another kind of cryptocurrency beat down the U.S. dollar? What's your opinion?

This is a frequently asked question and answers run the gamut depending on how people feel about cryptocurrencies and bitcoin. The bitcoin maximalists believe bitcoin will eventually become the global reserve currency, implying a value of at least $250,000. There are maximalists of other coins that are similarly optimistic. Others like myself believe bitcoin will coexist with the U.S. dollar and other fiat currencies, and rather than replacing them will simply be an alternative means of exchange and store of value.

[Bitcoinqubit]

look when you have great question better ask smart economist he will tell you rather to listen people here....

the main mission of bitcoin is to compete with them and bring them down...nothing else....

in 0th3r w0rds if s0me0ne say to you that uber didnt come to compete taxi industry....hell its so simple to find answers but if you not sure it always better to ask few pro people in this vertical and see the middle between this answers

but yes bitcoin came from the idea of peer to peer file sharing like bitorrnet or napster just with small twist nothing more

Napster (Napster was Fanning's nickname in high school, because of his hair) is a different way to distribute MP3 files. Instead of storing the songs on a central computer, the songs live on users' machines. This is called peer-to-peer sharing, or P2P

do you thing uber didnt come to compete taxi or lyft or any other startup rise ...the only one reason is to compete and the main mission is to control and be monopoly like google and youtube...

so here you have very simple answer  that the main mission of bitcoin is to compete other paper money that lose value and the prices in supermarkets and other things go up and much more...deep

not only compete but bring all of them down...like any other startup but here its peer to peer ...

ask smart economist about what i said to you...

[Bitcoinqubit]

bitcoin will replace them... usa in 20 trillion debt do you know whats its mean....now the usd affect other paper money as world main currency..

alot of coins in the world dont have value like india russia israel ukrine china and other shit.....the replacment will happen fast....

+-------->>>>

business will happy to be paid by crypto because the prices slowly go up....this is very deep deep ...this is where it will explode so hard....compare to russia crappy coin or india or other shitty coins which not worth nothing and not only this the main currency which affect all of them is in 20 trillion debt


hell only smart economist can understand this...

[Marry Finch]

Cryptocurrency does not have any significant effect on the usual currency. Strengthening or weakening of the dollar can have an impact on the price of bitcoin, but I do not see that the price of bitcoin has the opposite effect on the dollar.
In general, these currencies will not compete with each other. Cryptocurrency will exist in normal currency and can not replace them. As a result, they should complement each other with their different capabilities.

[hatshepsut93]

Can BTC restructure a new financial order? Can BTC or another kind of cryptocurrency beat down the U.S. dollar? What's your opinion?

It can't establish a new financial order, because it doesn't have enough users, it's estimated that 0.5-2% of the global population use Bitcoin, and they don't even use it on a daily basis, most of them just hodl, trade and very rarely pay. Bitcoin is already 10 years old, and in this age new things get picked up almost instantly, Twitter, Facebook and other services got millions of users in their first years, If Bitcoin didn't manage to get big now, there's a good chance that it will never become big.
From what I see Bitcoin will always be more of a tool for a specific purposes, like avoiding banks when you have a good reason to, cheap international transactions, decentralized store of value, microtransactions with LN.

[oseikuf44]

The US dollar is the base currency of which most financial asset is pegged to and use to value it, with Bitcoin overpowering USD in terms of value seems impossible to achieve since the US dollar is more lucrative to hold for investors than Bitcoin.

[Bitcoinqubit]

there will be times very soon you will need to delete this post hhhhh...

most of the coins in the world totally crap and the main one usd almost crashed the euro price and 20 trillion debt go to smart economist he will tell you smart investors dont hold money in the banks of usa or go do research in the interent find your self so sad to see people throw people to much shit withou any deep research