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

[unrealisticexpectations]

For me it already replaced it. I lived for a few years in a developing country where the local fiat money was for the day to day stuff but anything serious like big contract and stuff where done in USD.

Now I see bitcoin and my local fiat currency as the same. My small day to day expanses, groceries, etc are in my local fiat currency but when I think long term I think in BTC or sats.

I could see this becoming more and more common as we move along. I could also see a country backing their fiat by bitcoin. Although it would still allow the printing to go on it would be akin to a "bretton wood agreement" but with bitcoin. It would allow for banknotes, offline transactions etc and because its much easier to transfer bitcoin, it would be easy for people to go back to btc if the printing start to go brrrrrrr and to use the underlying BTC as a way to keep everything in check.

[ice18]

Personally, in my opinion, crypto will never be able to replace the dollar, because in my opinion the dollar is the center, and the dollar is definitely controlled by the government, so something that is controlled by the government is very difficult to replace, especially the dollar has become a priority for everyone. , in my opinion bitcoin will still be bitcoin, and bitcoin will still be a companion to the dollar, they will coexist not to bring each other down..

You are right, but it may be replaced by digital dollar or the so called CBDC, I know some country like China are now in development of this digital yuan or currently testing now into the public. If they become successful in the future more countries will follow using it until paper money will become obsolete.   

[Questat]

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.

And yet, it can be possible but not that close to reality. People will just love to use fiat money, not cryptocurrency. Although many were in the interest of having Bitcoin in their life but just only for investment, not a currency to use. That means that they will still stick to fiat rather than spending their Bitcoin to buy stuff.
Even me, I'd never use it as it wasn't yet accepted to our place. This is a common reason why that was too hard to think that Bitcoin will replace fiat.

[pinggoki]

Personally, in my opinion, crypto will never be able to replace the dollar, because in my opinion the dollar is the center, and the dollar is definitely controlled by the government, so something that is controlled by the government is very difficult to replace, especially the dollar has become a priority for everyone. , in my opinion bitcoin will still be bitcoin, and bitcoin will still be a companion to the dollar, they will coexist not to bring each other down..

It won't be able unless only one crypto is used to replace the dollar though, pretty sure that running crypto nodes right now is already requiring a lot of energy so I really don't know how it's going to be able to go beyond what it has right now when it's already feeling like it's at it's limit. Coexistence is probably the best case scenario here although US would be the one that's losing in this deal because without that monopoly, they have less power.

[ChiBitCTy]

I am still undecided myself on this. On one hand I realize how much more efficient bitcoin / cryptocurrency and the blockchain are to fiat currency but on the other hand people are creatures of habit and many people simply don’t like the technology that bitcoin offers because it’s not what they are used to. I think if we do get to that point is going to take quite a few years. Older people are going to have to likely die off first before this ever comes to fruition.

[Cling18]

As for me, it could only happen once the government, as well as the people, would adopt cryptocurrency as the main currency. That's possible but it would still take a lot of time to happen since crypto couldn't put the dollar down because of its importance as a currency. However, I don't think crypto must replace dollar because they could actually work together.

[Gamerholic]

Bitcoin will never replace the dollar, but it can become a real currency with at least something secured, unlike all other currencies. After all, they (currencies) are issued by central banks and even private banks (as in the USA) for their national purposes. Bitcoin is untied from national borders, so in the future it will keep the dollar company on the financial "Olympus" - this is obvious to many today.

[CaVO32]

Bitcoin will never replace the dollar, but it can become a real currency with at least something secured, unlike all other currencies. After all, they (currencies) are issued by central banks and even private banks (as in the USA) for their national purposes. Bitcoin is untied from national borders, so in the future it will keep the dollar company on the financial "Olympus" - this is obvious to many today.

I don't think btc will replace the dollar in our lifetime. As it is decentralized, the government can't have the full control of its circulation. And most governments prefer to have control with their financial system. Some may adopt it as legal tender like El Salvador but I don't think we will come to the point that btc or crypto will replace the dollar in the international market. I like the optimistic view here but we need to be realistic with our outlook on this matter.

[glendall]

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

I don't think bitcoin will ever replace fiat money around the world. because every country has its own currency, if bitcoin is a complement I think it will

[coupable]

Bitcoin will never replace the dollar, but it can become a real currency with at least something secured, unlike all other currencies. After all, they (currencies) are issued by central banks and even private banks (as in the USA) for their national purposes. Bitcoin is untied from national borders, so in the future it will keep the dollar company on the financial "Olympus" - this is obvious to many today.

Bitcoin is not designed to replace the dollar or any other currency. Theoretically, dollar is backed by gold , it means it represents a value.
El Salvador recently announced the recognition for bitcoin as official currency. The crypto community is actually waiting for the next countries who follow it. The president of El Salvador said that 2 countries will adopt bitcoin during 2022 , while other hope for more countries. This brought more hope for many of us that dollar can fully replace dollar. I think it's not just a matter of large adoption as there still other obstacles that need to be solved .

[Chato1977]

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

When i want to believe this to happen, but do you really believe that the american government will allow this to happen? it is stupid idea that they will just let their dollars being replaced as we are not talking about EL Salvador nor other countries here but USA , so definitely this will never happen.

but in other countries maybe their fiat can be replaced.

[Kelvinid]

Bitcoin will never replace the dollar, but it can become a real currency with at least something secured, unlike all other currencies. After all, they (currencies) are issued by central banks and even private banks (as in the USA) for their national purposes. Bitcoin is untied from national borders, so in the future it will keep the dollar company on the financial "Olympus" - this is obvious to many today.

I don't think btc will replace the dollar in our lifetime. As it is decentralized, the government can't have the full control of its circulation. And most governments prefer to have control with their financial system. Some may adopt it as legal tender like El Salvador but I don't think we will come to the point that btc or crypto will replace the dollar in the international market. I like the optimistic view here but we need to be realistic with our outlook on this matter.

The majority had never thought it will replace and I think that was right.
Jack could be a known person in the community but he is not known as a fortune-teller. What he does is just his own market insights and like based on his imagination where is going fan of it but that never comes to reality.

Well, I just thinking what gonna happen to the third-world countries that have no internet connection and those people who don't have the capacity to buy gadgets?

[carlfebz2]

Bitcoin will never replace the dollar, but it can become a real currency with at least something secured, unlike all other currencies. After all, they (currencies) are issued by central banks and even private banks (as in the USA) for their national purposes. Bitcoin is untied from national borders, so in the future it will keep the dollar company on the financial "Olympus" - this is obvious to many today.

I don't think btc will replace the dollar in our lifetime. As it is decentralized, the government can't have the full control of its circulation. And most governments prefer to have control with their financial system. Some may adopt it as legal tender like El Salvador but I don't think we will come to the point that btc or crypto will replace the dollar in the international market. I like the optimistic view here but we need to be realistic with our outlook on this matter.

The majority had never thought it will replace and I think that was right.
Jack could be a known person in the community but he is not known as a fortune-teller. What he does is just his own market insights and like based on his imagination where is going fan of it but that never comes to reality.

Well, I just thinking what gonna happen to the third-world countries that have no internet connection and those people who don't have the capacity to buy gadgets?

We do have our own market insights and own views in everything and it just turn out that this guy is just known and popular where those words could be a bit getting some attention but in overall then it is always

been ended up on being speculative as it should always be because we couldnt know on where it would be heading and speaking of replacing dollar is just really a dream because we know that no matter how bitcoin

would grow up but it wouldnt really come into a point on which it could replace fiat and people shouldnt really come to a point on being optimistic like this one.

[adzino]

I am still undecided myself on this. On one hand I realize how much more efficient bitcoin / cryptocurrency and the blockchain are to fiat currency but on the other hand people are creatures of habit and many people simply don’t like the technology that bitcoin offers because it’s not what they are used to. I think if we do get to that point is going to take quite a few years. Older people are going to have to likely die off first before this ever comes to fruition.

Some of the chains aren't very efficient but it is more advantageous than the fiat currency. People don't need to like or understand the technology to use crypto currencies. All they need to know is how to send, receive and keep their wallet safe. Just like the way they need to learn how to send, receive and keep their paypal account safe. And those that are reluctant to use crypto currencies are the ones that read and follows those media that spreads FUDs about crypto currencies. I doubt bitcoin will replace fiat currency anytime soon. Maybe after few decades, but not now.

[AakZaki]

Some of the chains aren't very efficient but it is more advantageous than the fiat currency. People don't need to like or understand the technology to use crypto currencies. All they need to know is how to send, receive and keep their wallet safe. Just like the way they need to learn how to send, receive and keep their paypal account safe. And those that are reluctant to use crypto currencies are the ones that read and follows those media that spreads FUDs about crypto currencies. I doubt bitcoin will replace fiat currency anytime soon. Maybe after few decades, but not now.

To replace FIAT is still not possible and it is becoming very unlikely for now. Crypto still has many pros and cons and has a greater risk. ordinary people will not understand the condition of crypto. They will just spread FUD about using crypto. Early education about crypto is very much needed so that crypto is not seen as only a speculative asset, there are many benefits that can be obtained and applied to the current payment system. Crypto and Fiat will still be able to coexist.

[Henrobakkara]

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

  So you really believe that there will be a day when the US Government will dispose off their Currency, the Dollar $ and adopt Bitcoin BTC as the main currency? I think even Jack knows the true answer about that but I personally do not see that happening even though I am for bitcoin.

[jostorres]

I think no. Already, there have been talks that the crypt will not last long. And here it is quite possible to understand that such conversations will clearly not go in favor.

Where did you hear that talks and who were the guys that said that. Are they noobs or what? ah, I know maybe they are a haters of bitcoin. Crypto is just getting started and how is something that is only starting will then immediately disappear? Not bitcoin probably but they can be a new project which concept is not really needed anymore.

We already have a lot of cryptos which can be used as a dollar alternative and they are working very well but it only depends on the user if which coin will he chose. Each of us has their own favourite and not all will agree that bitcoin is good to use for buying but they more into altcoins.

[Viscore]

I definitely say no, it's not going to replace the dollar or any other fiat currency.Cryptocurrencies like bitcoin is appropriate for holding as a store of value.And because bitcoin is a decentralized digital currency, it wil be difficult to regulate because no one owns and control the currency like banks. Its requires time to be fully accepted by the government.