Bitcoin can not replace fiat | Bitcointalksearch.org

Denis Danilov

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Quote from: paulaitwesley on April 17, 2018, 06:17:52 PM

I think BTC is very difficult to replace fiat money!

Because fiat money is issued by the state, BTC goes to a decentralized system!

No country can give its own currency issue rights to a BTC to deal with!

Bitcoin won't replace fiat money. Not now. But this problem will be solved in the future. I think cryptocurrency it's a new gold. When bitcoin or any other coin will be used 1% people on earth, then that change all of it.

BitcoinHarbor

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Bitcoin has disadvantage while carrying out small transactions, because the're too expensive. So, it is doubtful that bitcoin can eventually replace fiat money.

concept2

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Quote from: Vaniaevergarden on April 18, 2018, 01:20:55 AM

It might be able to replace Fiat in few developed nations but when you think about Asian and African countries, you will notice that in most of those countries Internet is not available and without internet, bitcoin currency system is worthless and helpless. So you cannot deny the importance of Fiat ever.

its not about technology because they will be developed in the next few more years. The main point is that there is no government will accept the true that bitcoin is better than fiat. MOst of all, the government loves to control everything. Therefore, bitcoin can not replace fiat

Vaniaevergarden

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It might be able to replace Fiat in few developed nations but when you think about Asian and African countries, you will notice that in most of those countries Internet is not available and without internet, bitcoin currency system is worthless and helpless. So you cannot deny the importance of Fiat ever.

linshisui38

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BTC can replace legal tender, become a currency in the world. I believe that a lot of people have such thinking, if really replace fiat, that we buy now is the right choice, who buy the sooner, who will have more wealth in the future.

Sled

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Bitcoin- in bullish time

Quote from: DJCanh on April 17, 2018, 10:53:30 PM

I think, that fiat will be always. First of all, because real money has more stable price. And if all things in the shop will change price list every hour

The last thing that you said is the reason for the stores to not accept bitcoin because it is so volatile and they need to change the price every time there is a huge movement on the market of bitcoin so it is not that suitable for the stores like grocery stores to just accept bitcoin and implement it to their payment system because they might lose a chance to make profit.

DJCanh

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I think, that fiat will be always. First of all, because real money has more stable price. And if all things in the shop will change price list every hour

Ngewex Yuk

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Quote from: klasik1980 on April 17, 2018, 05:58:33 PM

Bitcoin will never replace fiat currencies, because it is not the cryptocurrency that will reach mass adoption in the sense of being used for quick everyday transactions like paying a subway ticket or at the checkout of a supermarket.

The main problem because bitcoin can only be used and depends on the internet, without internet then we can not use bitcoin, and fact to whenever internet will be hard to reach 100% place in this world so fiat will never be replaced until whenever.

YNAGS Team

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And I would add to that, it will be very funny also, cos you`ll never know how much would your cup of coffee cost for you, lol!

paulaitwesley

newbie

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I think BTC is very difficult to replace fiat money!

Because fiat money is issued by the state, BTC goes to a decentralized system!

No country can give its own currency issue rights to a BTC to deal with!

weblouartisan

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Lets Go Adab

Quote from: Parazyd on December 23, 2015, 09:54:15 AM

Yes, got you intrigued, didn't it?

Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.

I do not believe that bitcoins or another cryptocurrency cannot replace fiat in the future because as of today there are a lot of people who already invest a huge amount of cryptocurrency and they are expecting that bitcoins will really bloom in the future.

klasik1980

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Bitcoin will never replace fiat currencies, because it is not the cryptocurrency that will reach mass adoption in the sense of being used for quick everyday transactions like paying a subway ticket or at the checkout of a supermarket.

BitcoinMarketer39

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ADABsSsSsSsSSSsS

Quote from: Parazyd on December 23, 2015, 09:54:15 AM

Yes, got you intrigued, didn't it?

Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.

Yes i do also believe on that, bitcoin cannot replace fiat immediately since most of the people is not capable of earning cryptocurrency and not well knowledgeable, bitcoins and fiat will be always existing and it depends on the government if they still want bitcoins to flow on their country.

logan16j

member

Activity: 252

Merit: 10

Quote from: Parazyd on December 23, 2015, 09:54:15 AM

Yes, got you intrigued, didn't it?

Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.

I think that bitcoin prices are in a strong downtrend and will probably reach the $ 1000 mark this year, you can see that the market over the past few days is showing signs of a serious downturn and you can see that Market capitalization is decreasing rapidly, which suggests that investors are gradually withdrawing capital from the market.

Rustamm

member

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Bitcoin lover!

If a country decided to replace its national money with bitcoin, it would be a very stupid act. Because of the large volatility, the economy of the country would quickly unbalance. In addition, it would be strongly influenced by other countries, where bitcoin would be used extensively. In general, this would be a big problem for the state and its bodies.

thecoder2017

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Fiat and bitcoin is different because we all know that bitcoin is only a crypto currency while fiat is a paper which most people use in their daily transactions and i think that bitcoin will have a hard time to replace fiat.

Zelezinskyi

member

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Fiat cannot be replaced with bitcoin because how altcoin completely relying on bitcoin like that bitcoin is relying on fiat, without fait currency we cannot able to buy bitcoin.

Gufeng

sr. member

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Yeah bitcoin could replace fiat money because its very long transaction speed and high cost of transaction fee , may be in future when lighting network will be launched something will change but not for now for sure.

nicpaig

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Quote from: USB-S on December 23, 2015, 09:57:47 AM

However if one already owns bitcoins, this problem that you have becomes non-existent.

For me we can't see that bitcoin can replace fiat but the best of it was we can converted bitcoin into fiat and that's looks so nice.

Samj16

member

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Merit: 10

Yes maybe bitcoin can not replace fiat because fiat has a fix value while bitcoin is unstable with regards to its value. Maybe in other payment transaction we can use bitcoin as payment online.

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