Bitcoin is Becoming a Global Currency

[deisik]

What do you talk about guys, Bitcoin is Currency, Bitcoin is Money.

Fiat is Currency, but Fiat is not money, it's a "bank-note" a.k.a  toilet paper with human pictures on it.

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If there would be no fiat money, bitcoin would probably be used by much more people than it is now. People need a means of exchange, and bitcoin is perfect for the digital age +2000 era.

The first part naturally contradicts the second

Ok, i corrected it. I like you are like my old grammar teacher, always picking on the small mistakes.

Kinda seems you didn't even grasp what I was referring to. I specifically omitted "money" from highlighting, so that you would get a clue, but since you are devastatingly clueless, this didn't help either...

If fiat is not money, it cannot compete with something being money as money, by definition

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[deisik]

Fiat cannot compete with bitcoin, that is why it is forced on us!

In hyperinflation peeps easily switch either to using some foreign currency or to trading through barter. Therefore, no one can force you to stick to a money that is no longer money (see Zimbabwe as the most recent example). Yes, you still have to pay taxes, but in this very case you pay them with already devalued money (Olivera–Tanzi effect)...

[pjsonowal]

it will become soon ...am happy that it is gaining its popularity day by that.....hope the day will come when we dont have currencies and get to see a FUTURE WORLD- BITCOIN WORLD am dying and waiting for the day to come

[deisik]

Bitcoin/gold/silver is our saviour!

Lol, you talk about logarithmic charts, but at the same time fail to notice that the Y-axis at this chart doesn't start at zero and the M3 monetary aggregate had actually increased only by 25% in the time span of ten years (less than 3% annually)...

[deisik]

<BS skipped>

What about endogenous money creation and destruction as required by the economy? I assume it won't be a matter of dispute that 1) this is a useful feature, and 2) Bitcoin is totally devoid of it...

[jt byte]

Bitcoin is already a global currency in the terms of cryptocurrencies. Agreed.

USD is the only global currency atm tho.

LOL, Bitcoin can't replace USD, Bitcoin still a baby. i'm not sure Bitcoin can be a real global currency, it's just alt currency but it will big and will be a global alternative currency. the fact is there are still a lot people still choose a paypal than bitcoin, it's prove if Bitcoin can't replace fiat, but it became a global alternative currency.

Bitcoin is a baby but it has started to walk , i see especially my friends time by time are more interested about bitcoin but as anyone are afraid to invest because of decline. Fiat has it own place and can't be replaced by bitcoin but online bitcoin is competitive.

Well, unless your friends are willing to invest tens of thousands of dollars I don’t see why anyone could be afraid; invest a sum that, if everything goes to hell, you’ll not be afraid to lose, maybe a few hundreds, tops. Familiarize yourself with the bitcoin community and see if it’s for you.

I don't have friends that will invest tens of thousands of dollars in bitcoin. These are called boss(es)

[RealBitcoin]

<BS skipped>

What about endogenous money creation and destruction as required by the economy? I assume it won't be a matter of dispute that 1) this is a useful feature, and 2) Bitcoin is totally devoid of it...

Money is never destroyed, it is supposed to when the interest rates rise but we all know how BS is that.

The interest rates can never ever fucking rise again, because that woud collapse the world economy under the pressure of debt

[deisik]

<BS skipped>

What about endogenous money creation and destruction as required by the economy? I assume it won't be a matter of dispute that 1) this is a useful feature, and 2) Bitcoin is totally devoid of it...

Money is never destroyed, it is supposed to when the interest rates rise but we all know how BS is that.

Many central banks are targeting inflation rate, and as long as they succeed (keeping it low, but not lower), you will have to agree that interest rates are ultimately irrelevant

The interest rates can never ever fucking rise again, because that woud collapse the world economy under the pressure of debt

Who owes whom, globally?

[OROBTC]

...

deisik & RealBitcoin

Actually I would like it if the Fed raises rates.  Very few times in history have we seen such distortions caused by ZIRP.  Asset prices are very high, even if measured inflation is low (my explanation guess: very low "Monetary Velocity").

Pensions and investors need a positive rate of return on their investments.  Otherwise it is theft ("financial repression").

Policy makers (.gov and .fed) are doing a very poor job of managing our (USA, probably the whole Western world as well) economy, I have no trust in them nor their competence.  I sold almost the entire the balance of my stocks & bonds a month or so ago.

Gold, CA$H, real estate and BTC.  And BTC is about 1% of my assets, no more than that.

[deisik]

...

deisik & RealBitcoin

Actually I would like it if the Fed raises rates.  Very few times in history have we seen such distortions caused by ZIRP.  Asset prices are very high, even if measured inflation is low (my explanation guess: very low "Monetary Velocity").

Pensions and investors need a positive rate of return on their investments.  Otherwise it is theft ("financial repression").

Policy makers (.gov and .fed) are doing a very poor job of managing our (USA, probably the whole Western world as well) economy, I have no trust in them nor their competence.  I sold almost the entire the balance of my stocks & bonds a month or so ago.

Gold, CA$H, real estate and BTC.  And BTC is about 1% of my assets, no more than that.

That seems to be right. I have a higher percentage, but I bought only a small part of my BTC stash with fiat. The best part of it came in through speculation...

[rivera]

it will become soon ...am happy that it is gaining its popularity day by that.....hope the day will come when we dont have currencies and get to see a FUTURE WORLD- BITCOIN WORLD am dying and waiting for the day to come

Well, i think bitcoins will be more popular in the future and yes maybe it will be the global currency
maybe one day all countries will use this currency. when it is happened, what happened with the current currencies?

[Dotakels]

it will become soon ...am happy that it is gaining its popularity day by that.....hope the day will come when we dont have currencies and get to see a FUTURE WORLD- BITCOIN WORLD am dying and waiting for the day to come

Well, i think bitcoins will be more popular in the future and yes maybe it will be the global currency
maybe one day all countries will use this currency. when it is happened, what happened with the current currencies?

i think the current currencies will be a part of the history, and bitcoin will now be the global currency and will be the mainstream, but i think it will be happened after 20 years or 30?

[MinerHQ]

it will become soon ...am happy that it is gaining its popularity day by that.....hope the day will come when we dont have currencies and get to see a FUTURE WORLD- BITCOIN WORLD am dying and waiting for the day to come

Well, i think bitcoins will be more popular in the future and yes maybe it will be the global currency
maybe one day all countries will use this currency. when it is happened, what happened with the current currencies?

I think bitcoin will not replace any current currencies but it will be surely an alternative currency to buy any thing in online.

[jt byte]

it will become soon ...am happy that it is gaining its popularity day by that.....hope the day will come when we dont have currencies and get to see a FUTURE WORLD- BITCOIN WORLD am dying and waiting for the day to come

Well, i think bitcoins will be more popular in the future and yes maybe it will be the global currency
maybe one day all countries will use this currency. when it is happened, what happened with the current currencies?

I think bitcoin will not replace any current currencies but it will be surely an alternative currency to buy any thing in online.

In the real world it can only replace if it will be produced in physical coin, otherwise i think it will be the main currency online.

[Barnabe]

it will become soon ...am happy that it is gaining its popularity day by that.....hope the day will come when we dont have currencies and get to see a FUTURE WORLD- BITCOIN WORLD am dying and waiting for the day to come

Well, i think bitcoins will be more popular in the future and yes maybe it will be the global currency
maybe one day all countries will use this currency. when it is happened, what happened with the current currencies?

I think bitcoin will not replace any current currencies but it will be surely an alternative currency to buy any thing in online.

In the real world it can only replace if it will be produced in physical coin, otherwise i think it will be the main currency online.

Bitcoin could also be a "safe" investment like gold is, because of the low inflation if the demand is steady the price would remain the same over large periods of time.

[lahm-44]

usa is lossing its grip and russians too and so on..bitcoin is expanding day by day and peoples really loves it even if the maket is too much volatile but then also peoples are stisfy with this system

[Dotakels]

it will become soon ...am happy that it is gaining its popularity day by that.....hope the day will come when we dont have currencies and get to see a FUTURE WORLD- BITCOIN WORLD am dying and waiting for the day to come

Well, i think bitcoins will be more popular in the future and yes maybe it will be the global currency
maybe one day all countries will use this currency. when it is happened, what happened with the current currencies?

I think bitcoin will not replace any current currencies but it will be surely an alternative currency to buy any thing in online.

In the real world it can only replace if it will be produced in physical coin, otherwise i think it will be the main currency online.

why you will produced a real coins if you can use your own currency coins? and i think its hard to find a company that produced coins because bitcoin is not on the mainstream stage.

[bryant.coleman]

Bitcoin could also be a "safe" investment like gold is, because of the low inflation if the demand is steady the price would remain the same over large periods of time.

I doubt whether that is possible. Gold is being used as a form of currency for more than 5,000 years now, and that is one of the reasons why we are having stable exchange rates for gold. Also, gold is exchangeable almost anywhere in the world. Bitcoin, on the other hand is just 6 years old, and very few people are using it.

[Barnabe]

Bitcoin could also be a "safe" investment like gold is, because of the low inflation if the demand is steady the price would remain the same over large periods of time.

I doubt whether that is possible. Gold is being used as a form of currency for more than 5,000 years now, and that is one of the reasons why we are having stable exchange rates for gold. Also, gold is exchangeable almost anywhere in the world. Bitcoin, on the other hand is just 6 years old, and very few people are using it.

I'm not saying bitcoin should be as stable than gold. But it should have the same principles (steady supply and no centralized authority being the most important features)

[bitgolden]

Yes it is spreading everywhere throughout the world however it is not as quicker that it ought to be and the reason is absence of knowledge among the common people of the most. It is headed to be a worldwide cash yet it will require some investment and it is just conceivable when there is acknowledgment from the world people.