Topic: Bitcoin can not replace fiat - page 101. (Read 163804 times)

Just like gold. Look at its price.

Actually it is more like changing the bank system. The transaction fee, the system of credit cards and a lot more. Those banks take more when it is people's money that they are holding. They are just storages or keepers but when they found out they can use it for investment then now they are rich.

That's for sure because people would not trust bitcoin with that huge amount, when I say people it means that majority of the people living in this world. We are just a small currency due to our limited usage which is only for online transaction.

Bitcoin can replace a national currency, theres one easy way we know this will happen and this is if the majority of a democratic country demand that this becomes true.    We've become so used to central banking policy dictated to us that we forget its only by our allowing it to be so that it is possible.    There is a convergence between a democracy and a capitalist society and I think they both confirm each other, we have lost capitalism in my opinion and it has become a facist type state of government control over all money but we have not yet lost democracy and so one may yet may save the other


People trust banks partly because its part of the tax system.   Fiat money is demanded in taxes not just monthly but weekly and daily, every sales tax on every retail transaction involves government oversight and taxation and it must be paid in the currency of the land of the government.    Banks are part of that regulated system that constantly throws money back to government and so people know these dollars are in demand always.  Obviously we realise that demand is false and not a fair circular system but I think the truth is more obvious when you are not stuck in the middle, most people in cities are surrounded by the constant tax flows in currency, false demand and banking enables those channels.
  Bitcoin is all avant garde and nobody demands you ever have bitcoin really

Even if bitcoin value reach 5000 dollars unit, bitcoin wont be replacing any currencie, it may become an ivestment option and just, bitcoin isnt here for destroy or replace, but to clear minds and show the people power, something countries forgot long time ago.

If it is bitcoin that we are talking about then you can be 100 % certain that there is no way that the goverment is going to let that happen. There is no way for the goverment to have an absolute control of bitcoin therefore there is no way that a country is going to let bitcoin replace their fiat

You didnt even give it a little chance.  But I do agree. It is some imaginary idea of people who went to a conclusion without even getting facts. There should be questions before making a big decision like that. You will have to please the government for that to happen.

yes i also thing so, to me as the users of bitcoin are still very little therefore it will really take a good time to replace fiat, perhaps it will take decades to replace fiat, therefore in present time it is not possible.

Quite possible by now. You seem to be a little bit too late to the party. The technology is already here. I mean stick wallets like Opendime which allow to spend bitcoins offline without ever touching Blockchain and waiting for whatever number of confirmations is required to strike a deal. Retail merchants should be happy with these sticks...

And I think this is not the only way to make offline transactions a reality

Digital currency is digital currency wherein they can only dominate the online terms of transaction when sending and receiving money.

So how about the physical transactions? Offline transactions?

Being a bitcoin enthusiast is fine but don't take it to the higher level where own desires really has low odds to happen.

although this time all can be done with online but digital currency does not have the potential to replace fiat, at least to stand side by side is the most realistic.

People will always prefer to put their majority of their money in banks as they have more faith in it and they don't trust bitcoin fully and I don't think that bitcoin can ever take place of fiat in future.

if people don't trust banks so blindly then probably bitcoin can have a little change of doing so but they are nit just a ponzi scheam they are officially paying the lowest intrest but still people put the money there because they belive in thir security

Yeah, if bitcoin want replace fiat, people need to know first about bitcoin and how it works, because to replace fiat, people must know and we must motivate other people to use bitcoin. So, the information about bitcoin will spread around the world.

Yeah,exactly,like if BTC doesn't become an official currency cash will exist,It's just the way it is,politicians have to make BTC the official payment

Yes, not so easily at the same time not impossible too. When people do all their purchases only through online or they are getting all their life's need through online, why not they can simply stick with bitcoin by forgetting fiats. This will not happen to all the people in this world, but it may happen to 60% to 80% of world population.

Yeah no one can replace it because fiat is already published and no can change it. even in the future.. it will be still remain in the world to use not a crypto currency.. a crypto currency or bitcoin its just a alternative that you can use online for transactions just like paypal..  or perfect money..

bitcoin is not full of flaws, i has some problems yes.
but since we are talking about the future and bitcoin replacing fiat in the future i think you should assume that those flaws are already gone with passage of time.

and i agree with you that a lot of people and also the government is not going to allow this to happen, and give up power over fiat.

Fiat have support from the people and it has support from them and they find it easy to spend them as it is widely used and accepted and no crypto currency can replace them so easily.

Fiat money doesn't exist? Count me in, especially seeing as I can see a lot of people using dollar bills, pounds, yens, etc./s I do agree that you would need to buy bitcoins with fiat if you aren't mining and don't have a service to offer though.

Yes indeed bitcoin will not replace the money that is already very old. If bitcoin want to replace the money it is very difficult and needs to be changed. Bitcoin prices are not suitable to be used as currency for bitcoin often fluctuated and it was not suitable to be money because if you want to replace the bitcoin money must have a stable price. Bitcoin will be complicated if used for direct transactions because it takes time, bitcoin should have a form of value to be used in their daily lives.