Why Do People Believe Bitcoin Will Replace Fiat?

[CrackedLogic]

of course this is possible but have we more power than the banks?

Banks wouldn't exist if Bitcoin or any other crypto took over.

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[RaXmOuSe]

of course this is possible but have we more power than the banks?

Define power.

[Erdogan]

of course this is possible but have we more power than the banks?

Define power.

Here is my take: Using force to kill, hurt, confine someone in a small room, push others around, take their things, hurt their reputation or scam someone by stealing their reality.

In other words, these are the things that immoral people, gangs, and governments do.

A rich man or woman on the other hand, who has not gotten their money or value using those methods, does not have power. The only thing a rich man can do to you when he comes by, is give you a better offer.

[neurotypical]

of course this is possible but have we more power than the banks?

Banks wouldn't exist if Bitcoin or any other crypto took over.

Thats delusional. Even if Bitcoin become mainstream, big big big big players (im talking Rothchilds and friends) will still have their banks and dollars around, and will not let the system collapse if it weakens their wealth. They will probably come up with a new fiat or something. Yes ideally we should live in a bankless world but I dont see it happening anytime soon.

[CrackedLogic]

of course this is possible but have we more power than the banks?

Banks wouldn't exist if Bitcoin or any other crypto took over.

Thats delusional. Even if Bitcoin become mainstream, big big big big players (im talking Rothchilds and friends) will still have their banks and dollars around, and will not let the system collapse if it weakens their wealth. They will probably come up with a new fiat or something. Yes ideally we should live in a bankless world but I dont see it happening anytime soon.

I don't see how that's delusional, I meant if Bitcoin replaced fiat, I don't see how banks would seize to exist. That will most likely stay around for loans but that's going to be pretty hard if loans were to be given out in Bitcoin. 
The possibility of that happening is extremely slim, countries(governments)  wouldn't want to live in a non-corrupted world.

[Geenstijl]

We can discuss and fantasize endlessly about the future of bitcoin. That's what i like about it 

[Hippie Tech]

of course this is possible but have we more power than the banks?

Banks wouldn't exist if Bitcoin or any other crypto took over.

Thats delusional. Even if Bitcoin become mainstream, big big big big players (im talking Rothchilds and friends) will still have their banks and dollars around, and will not let the system collapse if it weakens their wealth. They will probably come up with a new fiat or something. Yes ideally we should live in a bankless world but I dont see it happening anytime soon.

I don't see how that's delusional, I meant if Bitcoin replaced fiat, I don't see how banks would seize to exist. That will most likely stay around for loans but that's going to be pretty hard if loans were to be given out in Bitcoin.  
The possibility of that happening is extremely slim, countries(governments)  wouldn't want to live in a non-corrupted world.

I think someone has been sniffing too many meat fumes.

Show me one crypto currency that isn't digital fiat and/or how it cannot be manipulated using the bankster's time proven methods.

And wtf about our current state of crypto affairs gives you the impression that we are free from corruption ?

[funkenstein]

of course this is possible but have we more power than the banks?

Banks wouldn't exist if Bitcoin or any other crypto took over.

Thats delusional. Even if Bitcoin become mainstream, big big big big players (im talking Rothchilds and friends) will still have their banks and dollars around, and will not let the system collapse if it weakens their wealth. They will probably come up with a new fiat or something. Yes ideally we should live in a bankless world but I dont see it happening anytime soon.

I don't see how that's delusional, I meant if Bitcoin replaced fiat, I don't see how banks would seize to exist. That will most likely stay around for loans but that's going to be pretty hard if loans were to be given out in Bitcoin.  
The possibility of that happening is extremely slim, countries(governments)  wouldn't want to live in a non-corrupted world.

I think someone has been sniffing too many meat fumes.

Show me one crypto currency that isn't digital fiat and/or how it cannot be manipulated using the bankster's time proven methods.

And wtf about our current state of crypto affairs gives you the impression that we are free from corruption ?

In a public coin, the money supply is public.  That eliminates monetary supply fraud such as counterfeiting or otherwise creating currency without the knowledge and consent of all participants.  It doesn't eliminate all forms of corruption of course.   

   

[Tsquared]

Most don't realize that only a tiny amount of fiat is actually minted/printed. Fiat is already mostly digital, but the infrastructure used for transferring and storing it leaves much room for improvement. It's not a matter of Bitcoin replacing fiat, but more a matter of Bitcoin representing fiat in certain types of transactions, and fiat systems changing to become more like cryptographic currencies.

TT

[Hippie Tech]

of course this is possible but have we more power than the banks?

Banks wouldn't exist if Bitcoin or any other crypto took over.

Thats delusional. Even if Bitcoin become mainstream, big big big big players (im talking Rothchilds and friends) will still have their banks and dollars around, and will not let the system collapse if it weakens their wealth. They will probably come up with a new fiat or something. Yes ideally we should live in a bankless world but I dont see it happening anytime soon.

I don't see how that's delusional, I meant if Bitcoin replaced fiat, I don't see how banks would seize to exist. That will most likely stay around for loans but that's going to be pretty hard if loans were to be given out in Bitcoin.  
The possibility of that happening is extremely slim, countries(governments)  wouldn't want to live in a non-corrupted world.

I think someone has been sniffing too many meat fumes.

Show me one crypto currency that isn't digital fiat and/or how it cannot be manipulated using the bankster's time proven methods.

And wtf about our current state of crypto affairs gives you the impression that we are free from corruption ?

In a public coin, the money supply is public.  That eliminates monetary supply fraud such as counterfeiting or otherwise creating currency without the knowledge and consent of all participants.  It doesn't eliminate all forms of corruption of course.    

  

Keep dreaming.

Your buds The scammers over at x-Children are guilty of what you claim to be impossible with cryptos.

http://blockexperts.com/child/address/CNb4B7yxZLacfM8TmndjMcvdf16tEbmvyQ

See the trust rating I left x-Laboratories and Ivanlibre for more info.

[funkenstein]

Keep dreaming.

Your buds The scammers over at x-Children are guilty of what you claim to be impossible with cryptos.

http://blockexperts.com/child/address/CNb4B7yxZLacfM8TmndjMcvdf16tEbmvyQ

See the trust rating I left x-Laboratories and Ivanlibre for more info.

The coins are public.  I didn't look for more than 2 minutes but I found that basically all of those coins were issued in the first 28 days, followed by infinite 1 coin per block inflation.  

I'm not going to claim this is fair, or defend that choice, nor the people you mentioned, but I am going to claim that at least participants are able to check the money supply.  That is an improvement over some legacy systems people used  where nobody knew how many units were issued in a given day, how many were outstanding, or how many were transacted.  

[Hippie Tech]

No. Those coins were created using only 1 block and TX. They cannot be traced and would have gone unnoticed had I not checked the block explorer.

Hidden premines, balance /supply altering hard forks, double spends.. Call them what you will. They all qualify as being counterfiet coins/ currency.

[funkenstein]

No. Those coins were created using only 1 block and TX. They cannot be traced and would have gone unnoticed had I not checked the block explorer.

Hidden premines, balance /supply altering hard forks, double spends.. Call them what you will. They all qualify as being counterfiet coins/ currency.

Now you got me curious HT  I will take a look.  

I see the usual glossy identical altcoin website and press releases for standard "quick use" coins, in this case an off the shelf X11 clone.  The block explorer you linked to appears to choke on that address and return the default link to genesis block.  If you tell us more about the TXid you are concerned with perhaps we could say more.  Otherwise, I put too much time in already  

Of course double spends and forks are possible, but additions to the money supply that aren't public seem impossible to me.  Correct me if I'm wrong please.   

Here is what the network runs for block value:   

 int64 static GetBlockValue(int nBits, int nHeight, int64 nFees)
{
int64 nSubsidy = 0;
if(nHeight<=1471)
{
nSubsidy = 80*COIN;
}
else if(nHeight<=38912)
{
nSubsidy = 40 *COIN;
}
else if(nHeight<=40352)
{
nSubsidy = 80 *COIN;
}
else if(nHeight>40352)
{
nSubsidy = 1 *COIN;
}
return nSubsidy + nFees;
}

[hydeevanz]

Digital currency is a big improvement in many transactions because this can make our job or work easier and it will not take our time too much and this is one of the reason why people believe that bitcoin will replace fiat someday. However, most of the people wants to come up with a conclusion just like Andre Haldane idea but we cannot underestimate the power of government because they can’t do that for now due to the fact that the economy should be considered and falling of one country’s economy will be a big impact to the nation.

[Yatsan]

I have a hard time following the logic when people make a statement that Bitcoin will replace all fiat currency.  In my world view, they coexist and will continue to coexist.  I can see where some fiat currencies die and Bitcoin fills in the gap, but not on a global level.  Your thoughts?

Maybe it is because Bitcoin is having plus points or advantages. In Bitcoin, users will be also investors since storing up their Bitcoin on their wallet will already yield to huge profit since its market price is continuously growing at a high rate which fiat cannot do. Even if Bioin is volatile, people nowadays are seeing it better so it is not surprising to know that there are people who believes that Bitcoin will replace fiat.

[PANK21]

I have a hard time following the logic when people make a statement that Bitcoin will replace all fiat currency.  In my world view, they coexist and will continue to coexist.  I can see where some fiat currencies die and Bitcoin fills in the gap, but not on a global level.  Your thoughts?

I think its because of the high price and value of the bitcoin. Replacing bitcoin over fiat is not really necessary because they are somehow the same. We all have our own opinion and we believe what we want to believe, depends on the person.

[danielcansil]

bitcoin is still being used by many people around the world, so it has so many new technologies that can replace fiat money, such easy to supervise,using blockchain has high secure than any other technologies, and no worry about taxes, or controls by governments.

[DewiKirana]

I also have the same perception as you, that bitcoin today can not replace fiat money, they run side by side. Currently the majority of people see bitcoin as an asset, not as a currency that serves the tool of the transaction. So you can be sure fiat will always exist and run side by side with bitcoin.

[Apple Mac]

Rubbish, how they even consider something like bitcoin to fiat.

Maybe thats because Bitcoin contains a huge amount of money, which leads them to think that Bitcoin is way better than the fiat which we somehow agree but still it will never happen because governments will never allow this to happend.

[QuestionAuthority]

The real answer to this question is that most people aren’t really very well educated or very intelligent. There is no possibility that the average person understands enough about macroeconomics and also enough about bitcoin to see that bitcoin cannot replace fiat for even the smallest country.

Don’t be frustrated with stupid bitcoin users. Embrace them and love them because they're driving the exchange rate through the roof. If you need a release just come to this forum and make fun of them. That’s what I do and it works wonders. LOL