Rassah
Legendary
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Activity: 1680
Merit: 1035
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January 15, 2015, 05:26:57 AM |
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Bitcoin won't replace fiat as it's volatility makes it unsuitable for businesses as they work on tight margins.
Dollar backed currencies will be stable only as long as dollars stay stable, which isn't a guarantee. Things become more stable as they grow in total volume, and bitcoin is no exception. As for businesses working on tight margins, that won't matter if they do all their business in bitcoin and use bitcoin as their base unit of account. Who cares if bitcoin went down in value, if their cost is 10 BTC and their revenue is 11 BTC, they still made a 1 BTC profit. The dollar isn't stable either, having a volatility of up to 5% a week at times, but companies don't care either as long as the amount of dollars they bring in exceeds the amount they spend.
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"Bitcoin: the cutting edge of begging technology." -- Giraffe.BTC
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12345mm
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January 15, 2015, 08:24:06 AM |
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my veeeery favorite of all the BS i *constantly* hear spouted is wait till a satoshi = $1 ... lets do a little math here for the slow folks ... 21 million supply x 0.00000001 for a dollar creates a "real" money supply of ... yes 2.1 QUADRILLION dollars ... as in a trillion dollars X 1000 and then more than double it ... gdp of all of the developed countries of earth combined since the industrial revolution began doesn't come close (yes as far back as horses and buggies and accounting for inflation spending power) + all of the current value of all real estate on earth combined and the oil rights and the mineral rights ... if anyone ever tells you a satoshi will equal a dollar they are stupid and/or lying ...
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thompete
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January 15, 2015, 08:28:37 AM |
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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 personally never feel that fiat will be replaced by bitcoin at all levels, but will certainly be preferred for online usage and sending bitcoin to friends.
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Elwar
Legendary
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Activity: 3598
Merit: 2384
Viva Ut Vivas
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January 15, 2015, 08:34:22 AM |
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OP has not responded since his initial question. Something tells me the first 2 or 3 pages may have contained the answer to his question.
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First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin.
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calfries
Newbie
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Activity: 54
Merit: 0
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January 15, 2015, 08:58:33 AM |
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Bitcoin is not a political tool agreed. However, some governments can turn my grandmother into a political tool!
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Kprawn
Legendary
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Activity: 1904
Merit: 1073
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January 15, 2015, 11:52:22 AM |
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my veeeery favorite of all the BS i *constantly* hear spouted is wait till a satoshi = $1 ... lets do a little math here for the slow folks ... 21 million supply x 0.00000001 for a dollar creates a "real" money supply of ... yes 2.1 QUADRILLION dollars ... as in a trillion dollars X 1000 and then more than double it ... gdp of all of the developed countries of earth combined since the industrial revolution began doesn't come close (yes as far back as horses and buggies and accounting for inflation spending power) + all of the current value of all real estate on earth combined and the oil rights and the mineral rights ... if anyone ever tells you a satoshi will equal a dollar they are stupid and/or lying ...
Heh true, but it shows you, what can be done with the currency, if the need for that occur. The value for me, in using Bitcoin is the ability to change and adapt the currency to do more things than simply being a currency. We live in a world, where we want things to change with the times and the technology surrounding it. We use to write letters, then we used email, and now we moved onto social media, where you get instant response.... We are getting used to improving the technology we use, and fiat are not a media with those features.
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biscotaste
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Activity: 44
Merit: 0
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January 17, 2015, 08:28:24 PM |
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I don't think we have to philosophize using Bitcoin. Its not a way of thinking or an ideology. Its just a alternative currency, nothing more!
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calfries
Newbie
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Activity: 54
Merit: 0
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January 19, 2015, 07:58:37 AM |
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Bitcoin will not be allowed to replace fiat. Governments need to control their tax revenue. It is for this reason that I think Bitcoin contributes to the avoidance of a cashless society.
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cbeast
Donator
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Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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January 19, 2015, 08:47:54 AM |
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I don't think we have to philosophize using Bitcoin. Its not a way of thinking or an ideology. Its just a alternative currency, nothing more!
Yeah, Uranium is just dirt from the ground. No reason you can't let your kids play with it.
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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cbeast
Donator
Legendary
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Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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January 19, 2015, 08:50:27 AM |
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Bitcoin will not be allowed to replace fiat. Governments need to control their tax revenue. It is for this reason that I think Bitcoin contributes to the avoidance of a cashless society.
Bitcoin doesn't have to replace anything. If it's better, then people should be able to choose.
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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Bagatell
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January 19, 2015, 08:58:40 AM |
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Governments need to control their tax revenue.
They forked that when they gave the power to create money to the central banks.
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QuestionAuthority
Legendary
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Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
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January 19, 2015, 01:33:37 PM |
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OP has not responded since his initial question. Something tells me the first 2 or 3 pages may have contained the answer to his question.
Or maybe he's more of a listener than a talker. lol
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Hippie Tech
aka Amenstop
Legendary
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Activity: 1624
Merit: 1001
All cryptos are FIAT digital currency. Do not use.
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January 19, 2015, 02:17:40 PM |
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Bitcoin will not be allowed to replace fiat. Governments need to control their tax revenue. It is for this reason that I think Bitcoin contributes to the avoidance of a cashless society.
Bitcoin doesn't have to replace anything. If it's better, then people should be able to choose. BTC/ cryptos are nothing more than a false flag/hope with the end goal of ushering in the new world cashless order. If they succeed, your only choice will be to OBEY lest they void your stash of crypto-fiat, and/or cut your power and /or internet connection.
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cbeast
Donator
Legendary
Offline
Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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January 19, 2015, 02:30:27 PM |
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Bitcoin will not be allowed to replace fiat. Governments need to control their tax revenue. It is for this reason that I think Bitcoin contributes to the avoidance of a cashless society.
Bitcoin doesn't have to replace anything. If it's better, then people should be able to choose. BTC/ cryptos are nothing more than a false flag/hope with the end goal of ushering in the new world cashless order. If they succeed, your only choice will be to OBEY lest they void your stash of crypto-fiat, and/or cut your power and /or internet connection. Et tu Brute? Viva la Revolucion. Jimmy crack corn. Alahu Akbar.
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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picolo
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January 19, 2015, 02:36:32 PM |
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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?
It is possible that it replaces most fiat currencies but even if it doesn't the potential is in trillions of Dollars.
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Elwar
Legendary
Offline
Activity: 3598
Merit: 2384
Viva Ut Vivas
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January 19, 2015, 02:39:19 PM |
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my veeeery favorite of all the BS i *constantly* hear spouted is wait till a satoshi = $1 ... lets do a little math here for the slow folks ... 21 million supply x 0.00000001 for a dollar creates a "real" money supply of ... yes 2.1 QUADRILLION dollars ... as in a trillion dollars X 1000 and then more than double it ... gdp of all of the developed countries of earth combined since the industrial revolution began doesn't come close (yes as far back as horses and buggies and accounting for inflation spending power) + all of the current value of all real estate on earth combined and the oil rights and the mineral rights ... if anyone ever tells you a satoshi will equal a dollar they are stupid and/or lying ...
1 Satoshi will equal 1 Zimbabwe dollar.
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First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin.
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ObscureBean
Legendary
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Activity: 1148
Merit: 1000
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January 19, 2015, 02:41:31 PM |
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Bitcoin will never replace fiat, at least not in its current form and if it ever did, it would most certainly be a shift initiated by the government. I guess people just find comfort in their belief that Bitcoin will eventually triumph. Other than gambling, cryptocurrency is the only thing that can offer regular folk who dream of untold riches a glimmer of hope.
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botany
Legendary
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Activity: 1582
Merit: 1064
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January 20, 2015, 12:13:50 AM |
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Governments need to control their tax revenue.
They forked that when they gave the power to create money to the central banks. Central banks are "supposedly" independent, but they do lend the government a helping hand now and then.
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Hippie Tech
aka Amenstop
Legendary
Offline
Activity: 1624
Merit: 1001
All cryptos are FIAT digital currency. Do not use.
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January 20, 2015, 05:03:42 AM |
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Bitcoin will not be allowed to replace fiat. Governments need to control their tax revenue. It is for this reason that I think Bitcoin contributes to the avoidance of a cashless society.
Bitcoin doesn't have to replace anything. If it's better, then people should be able to choose. BTC/ cryptos are nothing more than a false flag/hope with the end goal of ushering in the new world cashless order. If they succeed, your only choice will be to OBEY lest they void your stash of crypto-fiat, and/or cut your power and /or internet connection. Et tu Brute? Viva la Revolucion. Jimmy crack corn. Alahu Akbar. http://youtu.be/wGpJbD9h-J0http://vimeo.com/112641992
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Spjuth
Newbie
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Activity: 55
Merit: 0
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January 20, 2015, 11:00:04 PM |
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Bitcoin will not be allowed to replace fiat. Governments need to control their tax revenue. It is for this reason that I think Bitcoin contributes to the avoidance of a cashless society.
Bitcoin doesn't have to replace anything. If it's better, then people should be able to choose. BTC/ cryptos are nothing more than a false flag/hope with the end goal of ushering in the new world cashless order. If they succeed, your only choice will be to OBEY lest they void your stash of crypto-fiat, and/or cut your power and /or internet connection. Et tu Brute? Viva la Revolucion. Jimmy crack corn. Alahu Akbar. http://youtu.be/wGpJbD9h-J0http://vimeo.com/112641992Song about fiat currencies https://www.youtube.com/watch?v=VPPSaW30an0
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