Bitcoin will not be able to replace fiat, at least not at its current capacity. There is still a lot of things to fix before bitcoin can be used as easily as we use fiat now.
It is better used as an alternative to dollar or fiat than a replacement. As broken as dollar or fiat is, bitcoin still cannot be used to replace it.
Topic: Beating down the U.S. Dollar - page 3. (Read 718 times)
There is a big chance that it will happen as bitcoin is widely accepted already and it's price is keep on increasing. Once bitcoin will be accepted even by 90% of the countries then it can surely beat U.S Dollars.
But I am not sure if there are other good currencies that can beat U.S Dollar aside from bitcoin as almost all the other currencies are dependent to bitcoin prices.
But I am not sure if there are other good currencies that can beat U.S Dollar aside from bitcoin as almost all the other currencies are dependent to bitcoin prices.
Can BTC restructure a new financial order? Can BTC or another kind of cryptocurrency beat down the U.S. dollar? What's your opinion?
No, not unless people use it the same as we use currencies we have everyday, most specially US dollar. US dollar is considered as a global currency. Everyone knows it, accept it and acknowledge it, most specially governments. We all know that a government plays an important role in implementing things to be accepted and used by the people. We are also aware that BTC are not really accepted by some governments which is one of the reasons why it can't beat US dollar or any other fiat currencies we have now.
I don't think bitcoin will beat US dollar. They have different functions. Instead of thinking if bitcoin can beat US dollar, it's better to think how good they can work together. It's not its aim to beat US dollar or fiat.
The US dollar has been on a continues value decline because of US excessive growing debt profile and the unwillingness to pay off the debt in the sum of trillions of dollars. Some angry countries are started looking for a way to bypass the US dollar in the international market, which will further affect the US dollars. We don't know when the dollar will become totally useless. Let's hope there is a policy change and they stop mass printing of the dollar.
No matter how far it declines, it will always be perceived as the most important currency in the world unless the US government does something extremely messy(Low chances) which is why it is simply wishful thinking that BTC will replace it in the future.The debt will go down over time and countries won't simply boycott the dollar considering the interconnections between it and other global currencies. If it were to collapse, the world might get plunged into a horrible situation.
The US dollars doesn't need any help in beating itself down. It's like that one friend who always has his or her credit cards maxed out and still hasn't even paid off their mortgage.
Good explanation! Thanks.
The US dollar has been on a continues value decline because of US excessive growing debt profile and the unwillingness to pay off the debt in the sum of trillions of dollars. Some angry countries are started looking for a way to bypass the US dollar in the international market, which will further affect the US dollars. We don't know when the dollar will become totally useless. Let's hope there is a policy change and they stop mass printing of the dollar.
Can BTC restructure a new financial order? Can BTC or another kind of cryptocurrency beat down the U.S. dollar? What's your opinion?
The blockchain technology might help for changing the global financial order.BTC is just a currency and 90% of users are just hodling and waiting for a better price,so they could sell and cashout their dollars.
Can BTC or another kind of cryptocurrency beat down the U.S. dollar? What's your opinion?
The dollar today is the main world currency.In order for the crypto currency to take the place of the dollar,it is necessary that most people start using the crypto currency and not the dollar.It is now difficult to solve of course,but in the future it is quite possible. 
Can BTC restructure a new financial order? Can BTC or another kind of cryptocurrency beat down the U.S. dollar? What's your opinion?
Don't think of it as just against the USD! This is a problem with all FIAT money! Bitcoin's aim is to create decentralized market conditions.
It is amazing that many people still hold the idea that bitcoin is going to supplant the fiat currency. I don't think it will happen within the next decade nor in the next 50 years. And if ever the US Dollar can collapse it will not be because of bitcoin but the country's economy is not as great as anymore. The role of bitcoin (at least for me) is to become an alternative currency to the decentralized fiat money we are used to and maybe to also become a storage of value (the same role that of the physical gold).
Majority of the crypto community do strongly believe that BTC will replace FIAT sometime in the future which will never happen in my opinion. They simply have gotten tired of FIAT which is why they want BTC to become the new king.What they fail to understand is that BTC is primarily viewed as an asset instead of a currency at present which needs to be reversed with time hopefully. Adoption rates need to rise drastically to help achieve this.
bitcoin is not made to beat anything down, or replace anything. it is just there as the additional option for people who don't like the current available broken options that in most cases are in a corrupted economy controlled by the banks and the governments.
other than that, US dollar has been beating itself down without needing help from external sources.
other than that, US dollar has been beating itself down without needing help from external sources.
It is amazing that many people still hold the idea that bitcoin is going to supplant the fiat currency. I don't think it will happen within the next decade nor in the next 50 years. And if ever the US Dollar can collapse it will not be because of bitcoin but the country's economy is not as great as anymore. The role of bitcoin (at least for me) is to become an alternative currency to the decentralized fiat money we are used to and maybe to also become a storage of value (the same role that of the physical gold).
Nope. Perhaps gold but I doubt that too, people will always give gold more value because the chances of it going to 0 are basically 0 too. The chances of bitcoin dying are low but not impossible, there are many things that could crash bitcoin for good, from government bans around the world to some exploit/bug in the code.
bitcoin is not made to beat anything down, or replace anything. it is just there as the additional option for people who don't like the current available broken options that in most cases are in a corrupted economy controlled by the banks and the governments.
other than that, US dollar has been beating itself down without needing help from external sources.
other than that, US dollar has been beating itself down without needing help from external sources.
Agree, it was created to be an alternative not a replacement. However, if the current state of the government will go on, any currency will fall, not just dollar.
I wonder why people are creating a competition between dollars and Bitcoin where in fact they both work good together. Dollar has been through a lot and is being recognized all over the world. Bitcoin still has a lot of adoptions as well as rejections to face. Dollar is well established and is approved and supported by the government.
As I think bitcoin will not be able to beat the dollar, it is very difficult to replace a single currency in a unified form, it will need to be very weak in order to make bitcoin replace any of the nominal currencies. That dollar shows up in the US economy, while bitcoin doesn't say it.
bitcoin is not made to beat anything down, or replace anything. it is just there as the additional option for people who don't like the current available broken options that in most cases are in a corrupted economy controlled by the banks and the governments.
other than that, US dollar has been beating itself down without needing help from external sources.
other than that, US dollar has been beating itself down without needing help from external sources.
Can BTC restructure a new financial order? Can BTC or another kind of cryptocurrency beat down the U.S. dollar? What's your opinion?
BTC will replace Gold, Time will replace Fiat
The US dollars doesn't need any help in beating itself down. It's like that one friend who always has his or her credit cards maxed out and still hasn't even paid off their mortgage.
Can BTC restructure a new financial order? Can BTC or another kind of cryptocurrency beat down the U.S. dollar? What's your opinion?
Maybe in a world that can be united we can make bitcoin beat the US Dollar and any other fiat money for that matter. The problem is that unity is something that is elusive in this world...heck even the bitcoin industry itself is not united as we have witnessed so many bickering and self-vested interests showing us the weaknesses of the human nature. The idea that bitcoin (or maybe another cryptocurrency) to become one global currency can never happen -- not in my lifetime maybe. This kind of idea l is existing only in pipe dreams.
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