Bitcoin can not replace fiat - page 115.

Hatuferu

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Quote from: Cybertron00 on June 09, 2016, 08:55:32 PM

Well in my opinion, Bitcoin cannot replace fiat. The first reason it can't be replaced by fiat is that fiat is backed by banks and government, while bitcoin isn't. The second reason why bitcoin can't replace fiat is that many convert's bitcoin as fiat and it's price is also based on fiat. The third and last reason why bitcoin cannot replace fiat is that some can't simply trust bitcoin. Grin

Exactly, if bitcoins will not be back by the government, we will still continue to live at its current state and it is very risky as anytime the price will collapse if the government will declared this as illegal. I hope that would not come someday for us to continue to earn and have a good experience to transact online.

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Well in my opinion, Bitcoin cannot replace fiat. The first reason it can't be replaced by fiat is that fiat is backed by banks and government, while bitcoin isn't. The second reason why bitcoin can't replace fiat is that many convert's bitcoin as fiat and it's price is also based on fiat. The third and last reason why bitcoin cannot replace fiat is that some can't simply trust bitcoin. Grin

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Yes of course bitcoin can never ever replace fiat currency.Because tho bitcoin is well developed it is still depending on american dollar fiat currency.It cannot stand alone.And besides bitcoin is just manage by rich peoples not by government.And yes bitcoin can be a fiat currency but can never replace fiat currency.

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Quote from: hermanhs09 on June 09, 2016, 06:37:03 AM

Quote from: GamblingIsWrongWay on June 09, 2016, 04:11:01 AM

if the digital era come and all people using bitcoin as main currency, bitcoin will replace fiat system

Yeah, we are moving towards a cashless society at an ever growing rate. We are already using credit cards and debit cards for payments all over the world rather than paying with cash.

so I see no reasons at all that bitcoin cannot replace fiat. I think it is inevitable rather, that something replaces fiat. And that's bitcoin.

We will move to Bitcoin (or anything that is not created by govs) only when we move to a govless society as such. Not until then

hermanhs09

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Quote from: GamblingIsWrongWay on June 09, 2016, 04:11:01 AM

if the digital era come and all people using bitcoin as main currency, bitcoin will replace fiat system

Yeah, we are moving towards a cashless society at an ever growing rate. We are already using credit cards and debit cards for payments all over the world rather than paying with cash.

so I see no reasons at all that bitcoin cannot replace fiat. I think it is inevitable rather, that something replaces fiat. And that's bitcoin.

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Quote from: saiha on June 09, 2016, 04:08:56 AM

Quote from: Bitcoinbee on June 09, 2016, 03:41:11 AM

bitcoin can possibly replace fiat as long as anyone one governing that specific fiat are the majority holder of bitcoin and its technology. It is only a possibility. For your reference just look way back and back read the history of the technology we are using now.

There is a possibility and there is also a possibility that it won't. It will just depend on the demand of the people on a particular country if they really want to use an online currency if they are having hard time of using fiat. But still they must create a law or a bill that says the replacement of fiat money for their country. Because fiat money for their country is also connected to their culture.

True if it is also democracy really then people from that country should decide if they really want to use it. But the problem is the government is the only one who will be the superior and their decision will be the last. People will just have to go with it.

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if the digital era come and all people using bitcoin as main currency, bitcoin will replace fiat system

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Quote from: Bitcoinbee on June 09, 2016, 03:41:11 AM

bitcoin can possibly replace fiat as long as anyone one governing that specific fiat are the majority holder of bitcoin and its technology. It is only a possibility. For your reference just look way back and back read the history of the technology we are using now.

There is a possibility and there is also a possibility that it won't. It will just depend on the demand of the people on a particular country if they really want to use an online currency if they are having hard time of using fiat. But still they must create a law or a bill that says the replacement of fiat money for their country. Because fiat money for their country is also connected to their culture.

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Quote from: Bitcoinbee on June 09, 2016, 03:41:11 AM

bitcoin can possibly replace fiat as long as anyone one governing that specific fiat are the majority holder of bitcoin and its technology. It is only a possibility. For your reference just look way back and back read the history of the technology we are using now.

No thats still not enough, anonymity of biction is the reason why it will never replace fiat.

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bitcoin can possibly replace fiat as long as anyone one governing that specific fiat are the majority holder of bitcoin and its technology. It is only a possibility. For your reference just look way back and back read the history of the technology we are using now.

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Quote from: GermanFoobla on June 08, 2016, 10:11:15 AM

bitcoin cant replace fiat i think he can because look how long the bitcoin is her right now and look how many users he already has. So i think that bitcoin can replace fiat for sure.

You are being unrealistic dude, although I have so much believe in bitcoin but I don't see it replacing fiat. Fiat is money govern by the government and people want something that is legal and approved by the government to use. Bitcoins is still risky as it is non regulated by the law.

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bitcoin cant replace fiat i think he can because look how long the bitcoin is her right now and look how many users he already has. So i think that bitcoin can replace fiat for sure.

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Quote from: Hatuferu on May 29, 2016, 08:36:38 PM

Quote from: stromma44 on May 29, 2016, 04:04:34 PM

Quote from: richardsNY on May 29, 2016, 03:43:28 PM

Quote from: lexuz on May 29, 2016, 02:24:26 PM

Quote from: 23dzmaz on May 28, 2016, 08:49:52 AM

Bitcoin will never replace fiat. Bitcoin have their own target and it's digital currencies. If bitcoin have physical unit like fiat, maybe bitcoin can replace it.

Bitcoin never replace fiat money even bitcoin have physical unit like fiat, the problem is which countries would adopt bitcoin to replace their own currencies.

I agree with the fact that Bitcoin will never be able to replace fiat but Bitcoin in physical form as you are saying can only be spent if you are connected with internet. Fiat money in physical form can get spent anywhere without the need of an internet connection. These are very important differences.

Normal users who are not aware about internet and technology will continue to use fiat as they are not aware it won't make any difference to them even if the price of bitcoin reaches to the moon.

Its true so bitcoin will not replace fiat, although I believe bitcoins will be widely use and adopted in the near future because of its good benefits to the users but it will never replace fiat.

It will take some time for the bitcoin or other digital currency to be the main usage for the function as a currency.

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Quote from: stromma44 on May 29, 2016, 04:04:34 PM

Quote from: richardsNY on May 29, 2016, 03:43:28 PM

Quote from: lexuz on May 29, 2016, 02:24:26 PM

Quote from: 23dzmaz on May 28, 2016, 08:49:52 AM

Bitcoin will never replace fiat. Bitcoin have their own target and it's digital currencies. If bitcoin have physical unit like fiat, maybe bitcoin can replace it.

Bitcoin never replace fiat money even bitcoin have physical unit like fiat, the problem is which countries would adopt bitcoin to replace their own currencies.

I agree with the fact that Bitcoin will never be able to replace fiat but Bitcoin in physical form as you are saying can only be spent if you are connected with internet. Fiat money in physical form can get spent anywhere without the need of an internet connection. These are very important differences.

Normal users who are not aware about internet and technology will continue to use fiat as they are not aware it won't make any difference to them even if the price of bitcoin reaches to the moon.

Its true so bitcoin will not replace fiat, although I believe bitcoins will be widely use and adopted in the near future because of its good benefits to the users but it will never replace fiat.

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Quote from: richardsNY on May 29, 2016, 03:43:28 PM

Quote from: lexuz on May 29, 2016, 02:24:26 PM

Quote from: 23dzmaz on May 28, 2016, 08:49:52 AM

Bitcoin will never replace fiat. Bitcoin have their own target and it's digital currencies. If bitcoin have physical unit like fiat, maybe bitcoin can replace it.

Bitcoin never replace fiat money even bitcoin have physical unit like fiat, the problem is which countries would adopt bitcoin to replace their own currencies.

I agree with the fact that Bitcoin will never be able to replace fiat but Bitcoin in physical form as you are saying can only be spent if you are connected with internet. Fiat money in physical form can get spent anywhere without the need of an internet connection. These are very important differences.

Normal users who are not aware about internet and technology will continue to use fiat as they are not aware it won't make any difference to them even if the price of bitcoin reaches to the moon.

richardsNY

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Quote from: lexuz on May 29, 2016, 02:24:26 PM

Quote from: 23dzmaz on May 28, 2016, 08:49:52 AM

Bitcoin will never replace fiat. Bitcoin have their own target and it's digital currencies. If bitcoin have physical unit like fiat, maybe bitcoin can replace it.

Bitcoin never replace fiat money even bitcoin have physical unit like fiat, the problem is which countries would adopt bitcoin to replace their own currencies.

I agree with the fact that Bitcoin will never be able to replace fiat but Bitcoin in physical form as you are saying can only be spent if you are connected with internet. Fiat money in physical form can get spent anywhere without the need of an internet connection. These are very important differences.

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Quote from: 2legit2 on May 29, 2016, 02:57:36 PM

..in my opinion the bitcoin price will grow really much in the near future thus allowing people to make money and it will replace the fiat

i think that its the only question in time when it will happen and we will surely see some good changes in my opinion and after a few decades we will use bitcoins instead of fiat

How come people will make money if fiat already been replace by bitcoin? Where it will be converted now for more money?

What's the sense now of having $5000 price per single bitcoin?

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Quote from: lexuz on May 29, 2016, 02:24:26 PM

Quote from: 23dzmaz on May 28, 2016, 08:49:52 AM

Bitcoin will never replace fiat. Bitcoin have their own target and it's digital currencies. If bitcoin have physical unit like fiat, maybe bitcoin can replace it.

Bitcoin never replace fiat money even bitcoin have physical unit like fiat, the problem is which countries would adopt bitcoin to replace their own currencies.

i doubt that this opinion is correct to be honest, in my opinion the bitcoin price will grow really much in the near future thus allowing people to make money and it will replace the fiat

i think that its the only question in time when it will happen and we will surely see some good changes in my opinion and after a few decades we will use bitcoins instead of fiat

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Quote from: 23dzmaz on May 28, 2016, 08:49:52 AM

Bitcoin will never replace fiat. Bitcoin have their own target and it's digital currencies. If bitcoin have physical unit like fiat, maybe bitcoin can replace it.

Bitcoin never replace fiat money even bitcoin have physical unit like fiat, the problem is which countries would adopt bitcoin to replace their own currencies.

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