Maybe bitcoin can not replace fiat, but surly it can complement it.
Because its easy to transfer bitcoins to any place in the world and convert them back into the local fiat.
Topic: Bitcoin can not replace fiat - page 111. (Read 163793 times)
That is correct that the basis of value of bitcoin is the fiat. And i think the value of bitcoin will continuous going to high but this is not enough to replace the fiat. Fiat is already accepted by the banks while bitcoin is not yet fully legal in all country.
I think several digital currencies will replace the the fiats in the next several decades. Bitcoin might be one of them.
Bitcoin cannot replace fiat its true but It is a source to earn and convert into fiat.
But as days will pass more and more companies will accept bitcoin and it will be close to be used just as fiat
But as days will pass more and more companies will accept bitcoin and it will be close to be used just as fiat
Bitcoin cannot replace fiat and I agree with your statement that bitcoins are dependent of fiat currency. Without fiat currency bitcoin will have no value. Aside from that the government will not use bitcoin as an official legal tender since it is dependent on internet. When electrical blackouts occur the economy will be on crisis since zillions of income will lost in one day just because of a blackout.
Bitcoin cannot replace fiat its true but It is a source to earn and convert into fiat.
But as days will pass more and more companies will accept bitcoin and it will be close to be used just as fiat
But as days will pass more and more companies will accept bitcoin and it will be close to be used just as fiat
Bitcoin cannot replace fiat and I agree with your statement that bitcoins are dependent of fiat currency. Without fiat currency bitcoin will have no value. Aside from that the government will not use bitcoin as an official legal tender since it is dependent on internet. When electrical blackouts occur the economy will be on crisis since zillions of income will lost in one day just because of a blackout.
bitcoin can not repalce fiat money bitcoin not real physic so is very dificult if fiat and real money
bitcoin only digital curency but if repalce digital payment the bigger in the world is posible
bitcoin only digital curency but if repalce digital payment the bigger in the world is posible
It doesn't need to replace fiat to have good use cases.
Bitcoin may not replace fiat of all but maybe for some cities or countries. I'm positive that later we can see some cities doing it just like how Sweden started paperless transaction nationwide. If even jsut one tries to implement such, there will be more that will follow.
It can if everyone starts getting paid in bitcoin.
Then there would be no need for fiat at all.
Then there would be no need for fiat at all.
If that happens then there would be no government needed right? Remember that no one is controlling bitcoin. Rich people who can buy a lot of it will be the one controlling its market in buying and selling waves.
There's a lot of issues with that as of now... A large majority of all the bitcoins are already mined, so issuing out the remaining 4 million or so bitcoins to the remaining 99% of the world's population isn't very optimal and would make for a worse distribution of wealth. Plus, if fiat was gone, there is no ability for the rich population of the "fiat world" to 'buy out' and control the market because fiat would essentially just become worthless paper (which it already kind of is).
Well IMO bitcoin can replace fiat in the future. It is possible if there would be a major crisis that will happen on fiat I think and then everyone will switch to bitcoin. Well it seems impossible but I think there's a possibility that it will happen.
No major crisis will happen because if it will take bitcoins will also affected, it is just good to see two currency working together and there is not need to replace one currency to have a better world.The replacement of fiat with bitcoin wont happen, just compare the volume of dollars at forex or any other currencie and will see that bitcoin its just a portion from the total, very tiny. The future should be coming over the next 50 years printed money will became digital as bitcoin nowadays soo its a great combination have both.
It's can not replace fiat but still can become a fiat if one country accept it as legal currency someday and then many countries will start accepting bitcoin too at my opinion.
Countries may start accepting bitcoin in future but it will be used only as a secondary currency and not as a primary as government will never allow bitcoin to get on the mainstream.
It's can not replace fiat but still can become a fiat if one country accept it as legal currency someday and then many countries will start accepting bitcoin too at my opinion.
Well IMO bitcoin can replace fiat in the future. It is possible if there would be a major crisis that will happen on fiat I think and then everyone will switch to bitcoin. Well it seems impossible but I think there's a possibility that it will happen.
No major crisis will happen because if it will take bitcoins will also affected, it is just good to see two currency working together and there is not need to replace one currency to have a better world.The replacement of fiat with bitcoin wont happen, just compare the volume of dollars at forex or any other currencie and will see that bitcoin its just a portion from the total, very tiny. The future should be coming over the next 50 years printed money will became digital as bitcoin nowadays soo its a great combination have both.
Bitcoin is still in its primary stage and there is no guarantee that bitcoin will survive as dollar has, nothing is assured in digital world, bitcoin may get replaced by some other innovative digital currency in future.
Well IMO bitcoin can replace fiat in the future. It is possible if there would be a major crisis that will happen on fiat I think and then everyone will switch to bitcoin. Well it seems impossible but I think there's a possibility that it will happen.
No major crisis will happen because if it will take bitcoins will also affected, it is just good to see two currency working together and there is not need to replace one currency to have a better world.The replacement of fiat with bitcoin wont happen, just compare the volume of dollars at forex or any other currencie and will see that bitcoin its just a portion from the total, very tiny. The future should be coming over the next 50 years printed money will became digital as bitcoin nowadays soo its a great combination have both.
Dollar has spend hundreds of years to get that place. But we are in the digital age, it will get several decades for bitcoin to achieve that.
Well IMO bitcoin can replace fiat in the future. It is possible if there would be a major crisis that will happen on fiat I think and then everyone will switch to bitcoin. Well it seems impossible but I think there's a possibility that it will happen.
No major crisis will happen because if it will take bitcoins will also affected, it is just good to see two currency working together and there is not need to replace one currency to have a better world.The replacement of fiat with bitcoin wont happen, just compare the volume of dollars at forex or any other currencie and will see that bitcoin its just a portion from the total, very tiny. The future should be coming over the next 50 years printed money will became digital as bitcoin nowadays soo its a great combination have both.
True, bitcoin doesn't have the power to replace fiat. Fiat is an established form of currency and regulated by government. It is also backed by some tangible asset like gold.
On the other hand, bitcoin doesn't have any central regulatory authority and is not backed by any asset. It is just backed by trust of the people. So it will never be possible for bitcoin to replace fiat in the coming 100 years.
On the other hand, bitcoin doesn't have any central regulatory authority and is not backed by any asset. It is just backed by trust of the people. So it will never be possible for bitcoin to replace fiat in the coming 100 years.
Are you sure
? Bitcoin is about trust ...you are right, this is why we are still here ~8 years late. I trust much more bitcoin than any other FIAT currency, don't get me wrong but this is what I think. 
True, bitcoin doesn't have the power to replace fiat. Fiat is an established form of currency and regulated by government. It is also backed by some tangible asset like gold.
On the other hand, bitcoin doesn't have any central regulatory authority and is not backed by any asset. It is just backed by trust of the people. So it will never be possible for bitcoin to replace fiat in the coming 100 years.
On the other hand, bitcoin doesn't have any central regulatory authority and is not backed by any asset. It is just backed by trust of the people. So it will never be possible for bitcoin to replace fiat in the coming 100 years.
There are thousands of dollar billionaire people in the world. And there are a few wealthy bitcoin holders. Do you think that $$$ holders will let you to replace them? If you think that you are living in another world.
If bitcoin somehow replaces $$$ or €€€ in the future, that means those FIAT holders will lose money. A lot.
FFs even people who became billionaires out of bitcoin sold their coins for FIAT. If they believed in bitcoin they wouldn't sold them. Think about it.
It is all fun and games while bitcoin climbs up, and when it decides to go down; it will be a holocaust
If bitcoin somehow replaces $$$ or €€€ in the future, that means those FIAT holders will lose money. A lot.
FFs even people who became billionaires out of bitcoin sold their coins for FIAT. If they believed in bitcoin they wouldn't sold them. Think about it.
It is all fun and games while bitcoin climbs up, and when it decides to go down; it will be a holocaust
In my opinion, bitcoin cannot replace fiat because of the technology itself. There are still so many people not updated with high technology and even some having no electricity yet. How can they use it if they don't even know about it. And it's hard to replace something that people are used to. But still we will never know what the future holds.
Well IMO bitcoin can replace fiat in the future. It is possible if there would be a major crisis that will happen on fiat I think and then everyone will switch to bitcoin. Well it seems impossible but I think there's a possibility that it will happen.
No major crisis will happen because if it will take bitcoins will also affected, it is just good to see two currency working together and there is not need to replace one currency to have a better world.The replacement of fiat with bitcoin wont happen, just compare the volume of dollars at forex or any other currencie and will see that bitcoin its just a portion from the total, very tiny. The future should be coming over the next 50 years printed money will became digital as bitcoin nowadays soo its a great combination have both.
Both are different currencies and cannot replace each other, and if have opportunity to use both them then why to choose single one, use it according to your convenience.
For now i think Bitcoin need fiat and can not replace it, but as it's growing up daily it's possible that in the future will replace it and become the first used currency worldwide.
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