Bitcoin can not replace fiat - page 117.

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Quote from: avw1982 on May 25, 2016, 08:37:06 AM

Quote from: BitcoinPaw on May 22, 2016, 12:02:55 PM

Currecy that depend on fiat anyway can't replace it, and bitcoin also can't become fiat currency, cause in many countries it's still illegal for using.

I think fiat will always be fiat, like we know it today. I don't think much will change about it. I just don't think bitcoin can replace fiat. The only way this would happen is if all the governments worldwide would adapt to it. Which I doubt that they would.

Governments will never support bitcoin, they will support only their local currency they don't want to loose their control on the money and they will never allow bitcoin to be a primary currency.

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Quote from: BitcoinPaw on May 22, 2016, 12:02:55 PM

Currecy that depend on fiat anyway can't replace it, and bitcoin also can't become fiat currency, cause in many countries it's still illegal for using.

I think fiat will always be fiat, like we know it today. I don't think much will change about it. I just don't think bitcoin can replace fiat. The only way this would happen is if all the governments worldwide would adapt to it. Which I doubt that they would.

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Quote from: wildan88 on May 25, 2016, 04:01:55 AM

Quote from: studas on May 25, 2016, 03:54:40 AM

Quote from: torrentheaven on May 22, 2016, 02:32:44 PM

Quote from: BitcoinPaw on May 22, 2016, 12:02:55 PM

Currecy that depend on fiat anyway can't replace it, and bitcoin also can't become fiat currency, cause in many countries it's still illegal for using.

Even if bitcoin gets legal status it cannot afford to replace fiat as fiat is most popular currency and majority of people are dependent on it for living.

When bitcoin becomes the legal tender in a country, it will be more popular than the fiat as it does not inflate.

yes most likely if like it, bitcoin will be used more often, rather than fiat. because use bitcoin which has many benefits rather than fiat. but it bitcoin still will not replace fiat .

Not everyone will start using bitcoin, its impractical and unrealistic, just compare the users of bitcoin and fiat and you will get your answer and same scenario will be in future too.

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We'll end up with a point when everything will be priced in bitcoin instead of fiat. For example, a coffee would cost 0.005 BTC instead of $2 fiat in bitcoins. That's when bitcoin becomes a real currency that will be used for daily commerce, and I think that's going to happen in a decade or so.

So yes, bitcoin can actually replace fiat. Yes, it might be a complicated process to go through, but we'll get there eventually. I have complete faith and trust in BTC.

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Quote from: studas on May 25, 2016, 03:54:40 AM

Quote from: torrentheaven on May 22, 2016, 02:32:44 PM

Quote from: BitcoinPaw on May 22, 2016, 12:02:55 PM

Currecy that depend on fiat anyway can't replace it, and bitcoin also can't become fiat currency, cause in many countries it's still illegal for using.

Even if bitcoin gets legal status it cannot afford to replace fiat as fiat is most popular currency and majority of people are dependent on it for living.

When bitcoin becomes the legal tender in a country, it will be more popular than the fiat as it does not inflate.

yes most likely if like it, bitcoin will be used more often, rather than fiat. because use bitcoin which has many benefits rather than fiat. but it bitcoin still will not replace fiat .

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Quote from: torrentheaven on May 22, 2016, 02:32:44 PM

Quote from: BitcoinPaw on May 22, 2016, 12:02:55 PM

Currecy that depend on fiat anyway can't replace it, and bitcoin also can't become fiat currency, cause in many countries it's still illegal for using.

Even if bitcoin gets legal status it cannot afford to replace fiat as fiat is most popular currency and majority of people are dependent on it for living.

When bitcoin becomes the legal tender in a country, it will be more popular than the fiat as it does not inflate.

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Quote from: BitcoinPaw on May 22, 2016, 12:02:55 PM

Currecy that depend on fiat anyway can't replace it, and bitcoin also can't become fiat currency, cause in many countries it's still illegal for using.

Even if bitcoin gets legal status it cannot afford to replace fiat as fiat is most popular currency and majority of people are dependent on it for living.

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Quote from: BitcoinPaw on May 22, 2016, 12:02:55 PM

Currecy that depend on fiat anyway can't replace it, and bitcoin also can't become fiat currency, cause in many countries it's still illegal for using.

Internally, Bitcoin doesn't depend on fiat, it is self-sufficient and thus doesn't need validation from dollars or whatever. On the other hand, since Bretton Woods agreement and till Nixon Shock the US dollar had been officially pegged to gold, but it didn't just perfectly replace gold as a currency, but actually moved gold out of circulation altogether as a monetary unit...

Gold bullion is now used as a substitute instead of gold coin

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Currecy that depend on fiat anyway can't replace it, and bitcoin also can't become fiat currency, cause in many countries it's still illegal for using.

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Quote from: randy8777 on May 22, 2016, 10:13:08 AM

Quote from: tabas on May 22, 2016, 09:45:37 AM

As of today, bitcoin wouldn't really replace fiat since fiat is controlled by the government and bitcoin isn't. And citizens are depending on what
the government will going to implement, if the government will implement bitcoin as their currency then it would probably change fiat.

one of the very few comments here that makes sense. it's indeed all up to the government. if they want to implement anything other than their own fiat money, then it will happen. if they prefer to stick to it for another 50-100 years, then it will of course stay for another 50-100 years. bitcoin can't change that.

Yeah, i think the government is the point why bitcoin can't replace the fiat. The fiat is full supported by government and in the other hand, bitcoin is only accepted on online.

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Quote from: tabas on May 22, 2016, 09:45:37 AM

As of today, bitcoin wouldn't really replace fiat since fiat is controlled by the government and bitcoin isn't. And citizens are depending on what
the government will going to implement, if the government will implement bitcoin as their currency then it would probably change fiat.

one of the very few comments here that makes sense. it's indeed all up to the government. if they want to implement anything other than their own fiat money, then it will happen. if they prefer to stick to it for another 50-100 years, then it will of course stay for another 50-100 years. bitcoin can't change that.

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As of today, bitcoin wouldn't really replace fiat since fiat is controlled by the government and bitcoin isn't. And citizens are depending on what
the government will going to implement, if the government will implement bitcoin as their currency then it would probably change fiat.

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Quote from: Hatuferu on May 22, 2016, 12:31:06 AM

It cannot replace because bitcoin is still in the early stage although the price has been quite impressive, and take note that not all countries are all computer literate and they cannot easily comprehend the ideas in digital world.

Fiat will always exist and bitcoin at this stage don't hold that power to replace fiat, as fiat is widely used and accepted everywhere and majority of people are dependent on it.

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It cannot replace because bitcoin is still in the early stage although the price has been quite impressive, and take note that not all countries are all computer literate and they cannot easily comprehend the ideas in digital world.

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Quote from: martha5dool on May 06, 2016, 11:13:59 AM

Internet will never disappear, and we have to accept this fact, and in future we will see some more innovative and advanced technologies, but fiat will always exist.

I strongly agree with you martha fiat is fiat, controlled by governments and guide the big economies however bitcoin may increase its fans.

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Quote from: saiha on May 07, 2016, 06:13:57 AM

Quote from: BitcoinPC on May 07, 2016, 06:00:26 AM

Yes, it is not possible, bitcoin can't replace into fiat, as it is bitcoin is good for us, we can use in trading and so many others ways where we are using the bitcoins, we also need fiat for bitcoin's price.

Bitcoin is good, useful as an online currency. But it is only for online transactions, unlike fiat all countries all using it and we are used to it.
It's very impossible for bitcoins to replace fiat. I don't know if that happens maybe it will if microchips are implemented.

Microchips? What does that do in replacing fiat. I dont really understand it. I hope you can enlighten us more with this newly information that you are telling the community. Thanks and God bless.

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Quote from: xht on May 06, 2016, 12:58:02 AM

Quote from: Adrayrd on May 02, 2016, 08:44:48 AM

Bitcoins will never replace anything because real money is and will
always be the number one paying method. it will never change

Your 100% right because there will never be a real money can replace with a new type of currency either digital or cryptocurrency.

yeah and all of that is set by the state government, respectively certainly every country wants to save their currencies from the invasion of foreign currency (including bitcoin) so I think it would be quite difficult for bitcoin to replace fiat.
bitcoin government would always prohibit entry into a country

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Quote from: rickadone on May 07, 2016, 05:32:24 AM

Quote from: Adrayrd on May 02, 2016, 08:44:48 AM

Bitcoins will never replace anything because real money is and will
always be the number one paying method. it will never change

Yes, you are true for those people who do purchases on offline stores, fiat is more convenient currency to work with, they will not accept any other currency instead of their own paper money as with that they do not have to pay any transaction fee.

But I think a time will come when every thing will be changed to online system and people will do payment with their digital system then at that time it is the possibility that bitcoin will flourish and people will prefer it.

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Quote from: ajun96 on May 07, 2016, 08:54:02 AM

Quote from: randy8777 on May 06, 2016, 05:11:35 AM

Quote from: Windpower on May 06, 2016, 04:34:10 AM

I have full faith in Bitcoin. I believe that one day Bitcoin will replace fiat. But by the time it happens, I will probably be dead.

you'll get very disappointed and you'll waste time waiting for that day to happen. set yourself some more realistic goals. that's much better.

yeah it looks like you're waiting for something that may not happen. better to wait not meant to be realistic I also agree with it. bitcoin replace fiat? wonders what happened at that time? or there is something very turmoil that shook the world of real money do not apply?

Bitcoin can never replace fiat as no country will allow it to happen, each and every country has its own currency and that is the identity of the particular country.

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Quote from: randy8777 on May 06, 2016, 05:11:35 AM

Quote from: Windpower on May 06, 2016, 04:34:10 AM

I have full faith in Bitcoin. I believe that one day Bitcoin will replace fiat. But by the time it happens, I will probably be dead.

you'll get very disappointed and you'll waste time waiting for that day to happen. set yourself some more realistic goals. that's much better.

yeah it looks like you're waiting for something that may not happen. better to wait not meant to be realistic I also agree with it. bitcoin replace fiat? wonders what happened at that time? or there is something very turmoil that shook the world of real money do not apply?

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