Bitcoin and the fiat money - page 2.

Cofee.BLUE

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Quote from: kram31 on June 03, 2018, 11:25:26 PM

Quote from: johnlhy253 on June 03, 2018, 10:33:00 PM

Is there a chance, that bitcoin will replace the fiat money? and why?

There is a big chance that will happen.
we have no FIAT before, and not all people have the money at start bu look at now.
fiat is the basic thing we spend everyday.
we just need to make it better and everything will be fine.

I agree, in the beginning people are not using fiat money and they can buy and live without it but in upcoming new centuries fiat money are develop and use it as payment and still now in the present we are using it. However, there's a chance that cryptocurrencies can replace it because in every decade or new centuries there will be the new technologies are always develop to make the lives of people become much easier and convenient. So nothing is impossible to happen.

Ethelbert Moore

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Different countries respond differently to the use of bitcoin; therefore, the effect of bitcoin will be different in different countries. It can only manage to become a new digital asset as it is evident in the announcement of the release of bitcoin futures, but not a new medium of exchange. However, if the whole world including the developed countries switch to digital, bitcoin might pose a threat to fiat money. That is unlikely to happen in the recent future.

HiringYou

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World is becoming digital and the time will surely come when cryptocurrencies will have a huge impact on the world's economy but I don't think that Bitcoin or any other cryptocurrency will be able to completely replace fiat money.This is because fiat money is a trusted mode of payment. It is very simple to use and people are using it from long time.If we talk about Bitcoin then it is difficult for it to gain the amount of trust that fiat money has.Moreover it is decentralized in nature and government has no control over it so government will not allow any such currency over which they have no control to overpower fiat currency.

Jundel2018

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Quote from: Wanpush on June 03, 2018, 11:28:57 PM

I do not agree if bitcoin replaces paper money, although bitcoin is practical, but I think it would be more complicated if we buy a candy using bitcoin. And every time we buy something we must carry our mobile phone, and must always connect to the internet.

We can't certainly say whether bitcoin can replace fiat maybe in the near future where its more stable. Though bitcoin is made for paying those online transaction or services. And also if bitcoin has a unlimited supply like a fiat do.

happistarjp

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This question/comparison had always been asked since the beginning of Bitcoin. I do think that it will not replace fiat money, Bitcoin will grow and will be bigger than ever but it will be hard to completely vanish fiat money.

Sir Cross

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The time that bitcoin or cryptocurrencies will completely replace fiat money is most likely a lifetime away. Cryptocurrencies are not so easy to use for everyone. It requires time for studying even just its basics, and even just starting a crypto wallet would be hard for some. Fiat money, on the other hand, is very common to people; its value is already understood, and how to use it for trade and other services like second nature. However, with the rate of growth of crypto, it is indeed possible for it to replace fiat money, but I think it would be a really long time to do so.

Aleth

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It will if bitcoin will be properly dessiminated to people so that many will be informed and educate people well in operating it. It would be hard to say it now, it is too soon, but maybe in the future like i said if and only if it will properly informed to people.

bitcoinjasensatom

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Quote from: freesia_pnp888 on June 03, 2018, 11:15:24 PM

no it can't happen, bitcoin and fiat are different. you should get your fact straight.

No bitcoin can't replace fiat for bitcoin may end sooner or later bitcoin is just an alternative digital money so that we can pay our transactions online or invest to earn some money. Bitcoins stability and its limited supply is also a factor in which that it can't replace fiat.

nazaididuan1

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BTC is hard to replace legal currency!
The legal currency is a basic financial instrument of a country and the BTC threatens the central bank’s monopoly on currency.

Tambu

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Quote from: johnlhy253 on June 03, 2018, 10:33:00 PM

Is there a chance, that bitcoin will replace the fiat money? and why?

I don't think so. BTC can only be replaced fiat if it has a wide adaptation on it. For now, BTC is just an asset.
Maybe on the future but not on our generation.

Cutieh01

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Quote from: freesia_pnp888 on June 03, 2018, 11:15:24 PM

no it can't happen, bitcoin and fiat are different. you should get your fact straight.

No bitcoin cant replace fiat since its volatile and decentralize. The government and also the bank would disagree to replace fiat with bitcoin. Also bitcoin has a limited supply unlike the fiat its unlimited and the government has the control into it. Maybe when the time that bitcoin is stable and its supply is unlimited then maybe it will replace fiat.

Wanpush

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I do not agree if bitcoin replaces paper money, although bitcoin is practical, but I think it would be more complicated if we buy a candy using bitcoin. And every time we buy something we must carry our mobile phone, and must always connect to the internet.

kram31

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Quote from: johnlhy253 on June 03, 2018, 10:33:00 PM

Is there a chance, that bitcoin will replace the fiat money? and why?

There is a big chance that will happen.
we have no FIAT before, and not all people have the money at start bu look at now.
fiat is the basic thing we spend everyday.
we just need to make it better and everything will be fine.

newcryptocurrency

newbie

Activity: 27

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I think it's hard for btc to replace fiat money. Because BTC is anonymous so it is a good support tool for criminal activities.
Secondly, Btc is not stable because of its volatility, which may result unstable economy.

freesia_pnp888

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no it can't happen, bitcoin and fiat are different. you should get your fact straight.

Ikonik

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Sooner or later fiat will be out.Cryptocurrency is just 1 way how to replace fiat

Yohr87

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Bitcoin will never replace fiat maybe this two currency are the currency that used by many people in the future.And I think government will not allow to happen.

minchubby

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Quote from: johnlhy253 on June 03, 2018, 10:33:00 PM

Is there a chance, that bitcoin will replace the fiat money? and why?

This will never happen, BTC is shit coin, low transaction speed and very high fee, how can you use money for daily consumption ? you will have to wait 1 hour to buy a bread ? There will be another coin will replace fiat, not BTC, It may be Nexty coin, read about it

johnlhy253

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Is there a chance, that bitcoin will replace the fiat money? and why?

Topic: Bitcoin and the fiat money - page 2. (Read 299 times)