Bitcoin can not replace fiat - page 112.

Valzador

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Quote from: goinmerry on July 13, 2016, 04:09:15 AM

Quote from: Valzador on July 13, 2016, 03:10:05 AM

It can if everyone starts getting paid in bitcoin.

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.

Although there are still problems with wealth inequality, it solves a lot of the current problems with fiat which include centralization, fees and unconstitutional inflation.

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Quote from: Valzador on July 13, 2016, 03:10:05 AM

It can if everyone starts getting paid in bitcoin.

Then there would be no need for fiat at all.

Yeah, you are right,if all the systems shifted to digital system and everyone around us started to accept bitcoin as the payment system for their services and in their shops then we can say there people will forget about fiat and will then prefer to keep their money in bitcoins, and that will be more better for bitcoin users and for those who have stored piles of bitcoins in their wallets as at that time the value of bitcoin will increase much faster and to the highest value.

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Quote from: Valzador on July 13, 2016, 03:10:05 AM

It can if everyone starts getting paid in bitcoin.

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.

Valzador

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It can if everyone starts getting paid in bitcoin.

Then there would be no need for fiat at all.

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Quote from: universe_ on July 12, 2016, 03:51:34 PM

Quote from: redsn0w on July 12, 2016, 03:09:49 PM

Quote from: n691309 on July 10, 2016, 06:58:05 AM

...There aren't enough coins to be used by all those people that use fiat money.

Remember that bitcoin is still down divisible to 0.00000001 bitcoin so I think you are wrong.

well of course he is wrong and if there will be a need bitcoin can be divided even into smaller parts if they will change the code, i doubt it is a problem and i think bitcoin will replace fiat

No, bitcoin is not going to replace fiat. Unless the government is going to create a bill about the alternation of bitcoin to fiat.
But the government is not have powers for controlling the flow of bitcoin because it is unstable.
But with fiat they are going to control it easily because it has stable price.

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Quote from: redsn0w on July 12, 2016, 03:09:49 PM

Quote from: n691309 on July 10, 2016, 06:58:05 AM

...There aren't enough coins to be used by all those people that use fiat money.

Remember that bitcoin is still down divisible to 0.00000001 bitcoin so I think you are wrong.

well of course he is wrong and if there will be a need bitcoin can be divided even into smaller parts if they will change the code, i doubt it is a problem and i think bitcoin will replace fiat

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Quote from: n691309 on July 10, 2016, 06:58:05 AM

The problem is that people do not trust bitcoin as much as they trust fiat money. I consider bitcoin only as an alternative way to buy and sell things. There aren't enough coins to be used by all those people that use fiat money.

Yes, in fact the problem is people generally cannot trust to digital environment and when it comes to bitcoin which has more fluctuations and uncertainties, furthermore bitcoin has not a supporter.

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Quote from: n691309 on July 10, 2016, 06:58:05 AM

...There aren't enough coins to be used by all those people that use fiat money.

Remember that bitcoin is still down divisible to 0.00000001 bitcoin so I think you are wrong.

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Quote from: n691309 on July 10, 2016, 06:58:05 AM

The problem is that people do not trust bitcoin as much as they trust fiat money. I consider bitcoin only as an alternative way to buy and sell things. There aren't enough coins to be used by all those people that use fiat money.

well they still dont trust it though if the popularity will grow and more companies will accept it i think people will not worry too much about it, i think bitcoin will replace fiat

AioFox

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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.

A derivative of Bitcoin with a more restrained approach to validating transactions could well achieve a more central and universal role in world finance. In other words, if we can use credit cards to pay for just simple shopping, a similar system can be implimented using bitcoins.

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Quote from: chineseprancing on July 07, 2016, 02:50:48 AM

Quote from: fkvidar on July 07, 2016, 02:19:14 AM

Quote from: Hatuferu on July 06, 2016, 08:43:40 PM

Quote from: Doamader on July 06, 2016, 04:47:48 PM

Quote from: Maslate on July 04, 2016, 02:43:36 AM

Quote from: ?? on ??

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.

You are completely right, we are just dreaming if we are thinking that way because it is so unrealistic and I just love that to happen but it just can't take place, it would be my interest as I have been saving in the future.

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.

Bitcoin can not replace the traditional currency of each country i think bitcoin will remain as cryptocurrency which is good to us because we can use it and spend it without tax imposed.

You are true, it cannot replace every nation's currency, as national currencies has teir powerful nations which give them more and more support in order to make them No.1 currency of the world.

RastMan

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Quote from: n691309 on July 10, 2016, 06:58:05 AM

The problem is that people do not trust bitcoin as much as they trust fiat money. I consider bitcoin only as an alternative way to buy and sell things. There aren't enough coins to be used by all those people that use fiat money.

It will take some time for people to trust more on bitcoin than the fiat. People will lose hope on fiat sooner or later.

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The problem is that people do not trust bitcoin as much as they trust fiat money. I consider bitcoin only as an alternative way to buy and sell things. There aren't enough coins to be used by all those people that use fiat money.

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Quote from: Xester on July 10, 2016, 05:50:08 AM

It is evident that bitcoin cannot replace fiat but maybe in today's time but a different news 50 years from now. Given the present condition of society it is but necessary to educate all citizens pertaining cryptocurrency so to prepare and pave the way for bitcoin economy to take place in our society. If we are not ready and only a few accepts bitcoin then bitcoin cannot replace fiat currency

People are already full with what corrupt politician has been doing, they will figure out soon that it is better to bank their money with bitcoins as it could give us good benefits as a form of investment and even spending with very cheap charges.

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Quote from: Xester on July 10, 2016, 05:50:08 AM

It is evident that bitcoin cannot replace fiat but maybe in today's time but a different news 50 years from now. Given the present condition of society it is but necessary to educate all citizens pertaining cryptocurrency so to prepare and pave the way for bitcoin economy to take place in our society. If we are not ready and only a few accepts bitcoin then bitcoin cannot replace fiat currency

I concur.

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It is evident that bitcoin cannot replace fiat but maybe in today's time but a different news 50 years from now. Given the present condition of society it is but necessary to educate all citizens pertaining cryptocurrency so to prepare and pave the way for bitcoin economy to take place in our society. If we are not ready and only a few accepts bitcoin then bitcoin cannot replace fiat currency

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Quote from: Fasdurcas on July 10, 2016, 01:35:12 AM

Quote from: saiha on July 07, 2016, 03:41:32 AM

Quote from: Hatuferu on July 07, 2016, 03:15:38 AM

Quote from: Corenin on July 07, 2016, 02:58:35 AM

Quote from: chineseprancing on July 07, 2016, 02:50:48 AM

Quote from: fkvidar on July 07, 2016, 02:19:14 AM

Quote from: Hatuferu on July 06, 2016, 08:43:40 PM

Quote from: Doamader on July 06, 2016, 04:47:48 PM

Quote from: Maslate on July 04, 2016, 02:43:36 AM

Quote from: ?? on ??

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.

You are completely right, we are just dreaming if we are thinking that way because it is so unrealistic and I just love that to happen but it just can't take place, it would be my interest as I have been saving in the future.

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.

Bitcoin can not replace the traditional currency of each country i think bitcoin will remain as cryptocurrency which is good to us because we can use it and spend it without tax imposed.

Yes its not possible for bitcoin to replace any paper currency, as the market cap of fiat is too huge and comparatively bitcoin is too small, and Government will never permit bitcoin to get on the mainstream.

The strong word is the government will never permit that too happen, remember that we live by the laws of the government and any actions of non abidance will result to penalty, so the same goes with bitcoins if they will make this illegal we can easily disappear.

I agree with that because that government is going to hard time to get some funds out of it because it is hard to control the flow of bitcoins.
Unlike the fiat they can just throw away some of money without any trace.
But with transactions with bitcoin there is going to be a record.

The governments never control the money flow. The tycoons controls it. So the bitcoin can be a good tool for financial freedom.

if you say tycoon controls it, there are bitcoin tycoons too, who are they? The WHALES! People who keep on manipulating since the start can control the flow of bitcoin price. they can easily crash it in one night leaving Bitcoin held by other people worthless. They can start to buy back by then which give them an edge since price will be too low. The problem here is worse since government can't intervene.

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