Do you think crypto is going to replace the dollar? Jack: Yes, Bitcoin will

[mynonce]

and i see no reason for replacement here, Fiat will complement Bitcoin as bitcoin complementing fiat, this will be the scenario in the future.

and lets accept that both will exist lifetime .

Fiat is Bitcoin's layer2. 

[danaleo1212]

I did not care about it, I think every country accept bitcoin as a crypto asset and legalize it with some regulation would be great.

[jaberwock]

Cardi B@iamcardib

Do you think crypto is going to replace the dollar?

jack@jack

Yes, Bitcoin will

I would say that it depends on what we are really talking about here. If they mean Bitcoin replacing the dollar and being accepted by the government as a main legal tender, I can’t really see the possibility of that happening. But as for the adoption, I believe that there will be a huge adoption for Bitcoin and a lot of people are going to start making use of it to store their wealth.

I just don’t think that the government would leave the US dollar to adopt Bitcoin, because they already know very well that it is something that they don’t control, and since they don’t control it, the only thing they would do is just let people make use of it, but it wouldn’t be replacing dollar as conventional currency.

[LUCKMCFLY]

Well it is only his opinion, it does not mean that this is what will happen, however there are many things that have happened lately, it is said that the biggest bubble is the FIAT money and that the whole crash has been delayed so that China becomes the strongest economy in the world and everyone is at the mercy, those are the things that are most seen on social networks, for now it is just speculation, but I think that BTC will not replace FIAT for the simple fact that Anything like BTC, GOLD, and others represent is money, after all it is a store of value to exchange for goods and services.

[Sirait]

Twitter 21/Dec/2021 https://twitter.com/jack/status/1473089482576564225


Cardi B@iamcardib

Do you think crypto is going to replace the dollar?

jack@jack

Yes, Bitcoin will

jack handing over the CEO role to someone else to focus on developing the Lighting network has already shown that he is a true advocate of bitcoin. bitcoin will definitely be adopted but for bitcoin replace dollars, it definitely takes time and extra hard work.

[nicolerichardson]

It is not possible for bitcoin to replace the dollar when there is more than 80% of the world population that has no idea about bitcoin. It will take decades for all people to know about bitcoin and believing in it is a far away thing.

[dataispower]

It is not possible for bitcoin to replace the dollar when there is more than 80% of the world population that has no idea about bitcoin. It will take decades for all people to know about bitcoin and believing in it is a far away thing.

What we should be asking is that can Bitcoin be equivalent to dollars, we are aware that dollars is a fiat currency and fiat currency have a lot of users before now, and is well known that each country has it own currency, all the fiat currencies using for all the nations is as ancient like century, so Bitcoin is a newborn currency that have not gotten up to fifty years of adoption, but we are comparing it with dollars that has been in existence before so many of us, Bitcoin has occupy some space before it will use to compare to dollars and replacement of dollars, even till this length Bitcoin has not been accepted with all the transactions of exchange of goods and services, some companies like Amazon rejects payment with bitcoin but accepts dollar fiat currency, so the difference is there between dollars and Bitcoin.

[KaliLinux]

I did not pay much attention into that tweets but just know that fiat are centralized and controlled by governments and the governments are not ready to lose, dollar is one of the existing fiat and the strongest of all. Bitcoin is decentralized and totally different from fiat. This type of comparison usually piss me off because both should not be compared as they are not the same. Bitcoin was not created to replace dollar or any other fiat, it is just an alternative.

Thank you. This has always been my argument and will remain so. I don't understand why people will continue to think that Bitcoin will replace the Fait currency. Frankly, I don't see this happening even though Bitcoin and other cryptos are been accepted for payments doesn't mean it will totally replace Fiat even if most of us would have wanted this. What is the value of Bitcoin? if Bitcoin from the get-go had a different valuation different from the Fiat we so want it to replace these days then this might also be a plus but it is valued in the Fiat $  and even if the Government supports bitcoin I am also sure they still won't give up their currency for Bitcoin, Do you think the US, British or any other major world power Government would?   

[Ozero]

Of course, the cryptocurrency will never be able to replace the dollar or other currencies of developed countries. These are completely different financial assets with a completely opposite nature of functioning. Besides, states and their governments will not allow it. As long as states exist, their currencies will also exist. Cryptocurrency can only be in circulation along with the currencies of states. But it should be borne in mind that their relationship is still poorly understood, because humanity has not yet known such a practice.

[bitterguy28]

Of course, the cryptocurrency will never be able to replace the dollar or other currencies of developed countries. These are completely different financial assets with a completely opposite nature of functioning. Besides, states and their governments will not allow it. As long as states exist, their currencies will also exist. Cryptocurrency can only be in circulation along with the currencies of states. But it should be borne in mind that their relationship is still poorly understood, because humanity has not yet known such a practice.

There is no need for replacing and i feel stupid to those who are putting this into topic , each countries has their Own existing currency and why need for replacement? what they need is adoption of crypto so they can have both.
the use of Fiat and the Use of crypto that will help their people to have better usage but to the extent of replacing? i don't see this coming at any point.
so No never that there will be such this but we will only have both crypto and fiat in the future.

[jhonjhon]

Although bitcoin can be used to buy goods and services. I dont think that it could replace the dollar. As it is decentralized virtual currency.It has no physical existence like banks.It also needs to be regulate like any other currency or fiat money.

On the other hand ,I believe that it is good to use an investment and a store of value.Crypto increases in value when held and used while the dollar cannot.

Gold didnt replace dollar so why bitcoin would?

[Wawa2013]

Of course, the cryptocurrency will never be able to replace the dollar or other currencies of developed countries. These are completely different financial assets with a completely opposite nature of functioning. Besides, states and their governments will not allow it. As long as states exist, their currencies will also exist. Cryptocurrency can only be in circulation along with the currencies of states. But it should be borne in mind that their relationship is still poorly understood, because humanity has not yet known such a practice.

Since the beginning of Bitcoin was created not to replace any currency, Bitcoin was created as an alternative payment. So humans are given the choice
to be able to carry out financial transactions without going through third parties, in order to make human life easier. Besides the government will not
allow this to happen, fiat is still needed in human life. Because there are still areas that have not been covered by an internet connection, after all,
some transactions are better using fiat. I think fiat and Bitcoin co-exist is much better, so they can complement each other's shortcomings.
Since Bitcoin also has drawbacks, so it's not a good idea if Bitcoin replaces fiat.

[Gasty4]

Yes, with a gradual process, Bitcoin will be accepted by every single American rating the dollar over bitcoin, whatever that will be great has challenges to it,a big setback to this is the government and their policies.
Bitcoin has also solved some of the cases fiat hasn't, amongst the cryptocurrency sphere Bitcoin is worth spending your billion's, are the point in time, the price seems bearish but it's worth holding for life.
Bitcoin will replace the dollar I'm proud to say so, they're just scared and ignorant about it.

[Chato1977]

Nope and it will never .

Fiat will remain active all our lives.

Crypto will increase the use and the demand .

This means both will be in our circulation forever .

Yes, with a gradual process, Bitcoin will be accepted by every single American rating the dollar over bitcoin,

Lol if this is true then after 13 years why still americans mostly has no idea or support for Bitcoin?

you have a wild imagination 

[Mauser]

That's a short and precise answer, a quick YES. Unfortunately there is no real time period to it, that could mean it happens in 100 years when no-one of us is around anymore. I don't think it's very realistic that bitcoins is going to replace the US Dollar any time soon. We still don't have a full international framework of how to deal with crypto currencies. As long as some countries are banning cryptos we can't have bitcoins as the world currency. It is still going to take some years until we can pay with bitcoins all around the world. Bitcoins could be the comprise then that all the big economies accept. It doesn't seem like that the currency war between US and China is going to end any time soon.

[virasog]

Cardi B@iamcardib

Do you think crypto is going to replace the dollar?

jack@jack

Yes, Bitcoin will

I would say that it depends on what we are really talking about here. If they mean Bitcoin replacing the dollar and being accepted by the government as a main legal tender, I can’t really see the possibility of that happening. But as for the adoption, I believe that there will be a huge adoption for Bitcoin and a lot of people are going to start making use of it to store their wealth.

I just don’t think that the government would leave the US dollar to adopt Bitcoin, because they already know very well that it is something that they don’t control, and since they don’t control it, the only thing they would do is just let people make use of it, but it wouldn’t be replacing dollar as conventional currency.

I am tired of hearing this for a long time now that dollar and fiat currencies will be replaced by bitcoin. Alright, it may happen someday but will it be really bitcoin that will be replaced or shall we have a digital dollar or something like that.

The problem with bitcoin adoption is it is the currency for the people and the government least cares for the people. They won't let their control give away by making bitcoin the legal currency on which they have no control.

Currently, there is a lot of pressure by the public that they want to use digital currency instead of fiat and i won't be surprised if sooner or later each countries government comes out with its own digital coin.

[noormcs5]

Hi all,

I am new here so please don't flame me.

everyone here is entitled to His own opinion , views and beliefs .. we will respect yours as how you respects others .

so Welcome tot he Forum and hope to see more exchanging of opinions.

I personally don't think it could replace the fiat system but it could complement it. Currently in my opinion BTC is a store of value; though it was supposed to be an peer to peer electronic payment system. I ain't complaining but you know..

But I am happy my value in BTC appreciates over the years though. 

and i see no reason for replacement here, Fiat will complement Bitcoin as bitcoin complementing fiat, this will be the scenario in the future.

and lets accept that both will exist lifetime .

I also think that both fiat and bitcoin will co-exists. It will not be easy that the whole fiat system is replaced by bitcoin or cryto currecny. There are amny challeges for bitcoin to be adopted every where. The biggest challenege is the adoption of technology itself because there are many places where we do not have 24/7 interent and bitcoin transcations need interent to be processed.
It may take another 20 years where we see full transformation from fiat paper money to digitial currency bitcoin.

[bitzizzix]

I don't think bitcoin will replace the dollar or become the currency for domestic payments in any major country with a functioning government, and even if it did, it would be because every government wants to control money spending, as it allows easy waiting to stimulate economic growth.
Bicoins can only be an alternative or substitute for very fast internal and external transfers or payments and other alternatives such as fiat or dollars, and the two will remain side by side and not replace each other and only able to compete.

[SirLancelot]

I don't think bitcoin will replace the dollar or become the currency for domestic payments in any major country with a functioning government, and even if it did, it would be because every government wants to control money spending, as it allows easy waiting to stimulate economic growth.
Bicoins can only be an alternative or substitute for very fast internal and external transfers or payments and other alternatives such as fiat or dollars, and the two will remain side by side and not replace each other and only able to compete.

Same here. I do not also think that will happen because if we can see the bitcoin value right now is based on the dollar's value so what would happen when the dollar is gone? How will they measure the btc's value but other than that I do not think governments will accept that but governments are allergic to btc or even on other digital currencies because they retain the dollar up until now.

Governments to control money spending? I am not sure with that but governments were known to always print money. I do not think they have concerns for that matter. It is already fine to us that btc have existed as a dollar alternative and we should not expect more than that.

[bounceback]

Twitter 21/Dec/2021 https://twitter.com/jack/status/1473089482576564225

Cardi B@iamcardib

Do you think crypto is going to replace the dollar?

jack@jack

Yes, Bitcoin will

Maybe now there are some people who say that bitcoin will replace fiat currency in the future, but I never thought it would actually happen because I know that the nature of bitcoin is very different from the nature of fiat currencies in general so it is very unlikely bitcoin can replace fiat money, I think in the future bitcoin and fiat currency will continue to go hand in hand because both of them have received high trust from the public.