Bitcoin can not replace fiat - page 118.

saiha

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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.

BitcoinPC

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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.

duts_bg

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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.

30-40 years ago, skeptics also does not believed that mobile communication will displace fixed, referring to the massive size of batteries.

rickadone

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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.

Jmild1

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Well, I take my assumptions listed.

We need internet and and smarthpone/computer to be able to use our wallet for transaction in bitcoin

Technology is developing
More and more people are adopting to the technology
If we have a mass adoption in technology we can easily access internet.

If that would happen, I am pretty sure, bitcoin will replace fiat, or if not bitcoin, other cryptocurreny will surely replace fiat. Maybe that will not happen for now, but it will surely happen when we developed technology era.

voztata

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Quote from: goinmerry on May 02, 2016, 07:50:01 AM

Quote from: The Arcitect on April 30, 2016, 07:59:46 PM

Of course not. You must be mad to ever think that it can replace what took 100's of year to develop and people have died for. To undo that in say 5 years is a farce and undermining humanities ability to keep it's economical fabric intact.

Wow that is a good one there Sir. I guess you are in writing or something. And I strongly agree with you. That is one hell of a history of a country and just change it for something that have been made just years ago and is still young.

Yes, bitcoin is born only a few years ago and it will take centuries to become a currency which will be able to replace any country fiat, otherwise bitcoin will remain as online virtual currency and will be there only.

raphma

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Quote from: Parazyd on December 23, 2015, 09:54:15 AM

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).

And fiat just falls from the sky, right? no need to produce, right?

Quote from: Parazyd on December 23, 2015, 09:54:15 AM

Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash

www.xapo.com
No need to thank me. But yeah, i agree with you in a few things... bitcoin still more complicated and will take time to be accepted. nobody said it would be tomorrow... money needed time too.

Quote from: Parazyd on December 23, 2015, 09:54:15 AM

And as far as I see it, there is no way of simplifying the acquiring of bitcoins.

it's already pretty simple.... but still not simple as pay in cash, and a lot of people never heard about bitcoin. give it time and we will see that happen.

martha5dool

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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.

torrentheaven

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Quote from: JumperX on May 06, 2016, 08:33:05 AM

Quote from: expert4knowledge on May 06, 2016, 08:08:03 AM

Quote from: tabas on May 05, 2016, 11:59:35 PM

Of course, bitcoin cannot replace fiat or the true money we had in our countries. We just need to consider that bitcoin will become another currency
accepted for each countries where people use it.
Fiat is controlled by government, so if government will also control bitcoin they can merge it.

Yes, as the best case you can expect that bitcoin becomes a global second/third currency for electronic business.

Yeah bitcoin will be the best digital currency in future and I think people will use both, for online bitcoin, and for physical they will use fiat currency.

The fact is we need both of them, and that would be a smart move to make, as in poor countries people need fiat to take care of their spendings and they will not find any place where they can spend bitcoin.

JumperX

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Quote from: expert4knowledge on May 06, 2016, 08:08:03 AM

Quote from: tabas on May 05, 2016, 11:59:35 PM

Of course, bitcoin cannot replace fiat or the true money we had in our countries. We just need to consider that bitcoin will become another currency
accepted for each countries where people use it.
Fiat is controlled by government, so if government will also control bitcoin they can merge it.

Yes, as the best case you can expect that bitcoin becomes a global second/third currency for electronic business.

Yeah bitcoin will be the best digital currency in future and I think people will use both, for online bitcoin, and for physical they will use fiat currency.

expert4knowledge

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Quote from: tabas on May 05, 2016, 11:59:35 PM

Of course, bitcoin cannot replace fiat or the true money we had in our countries. We just need to consider that bitcoin will become another currency
accepted for each countries where people use it.
Fiat is controlled by government, so if government will also control bitcoin they can merge it.

Yes, as the best case you can expect that bitcoin becomes a global second/third currency for electronic business.

bob123

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In the long term BTC might be able to replace Fiat.

But this will need a long time of adoption.

equator

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Quote from: arwin100 on April 03, 2016, 03:35:48 AM

Very surely for future the bitcoin will replace fiat because many people or fiat user go change to bitcoin because bitcoin is easy to transact and have many features and benifits you can get. I see the future if fiat is slowly getting down.

No it will not go down bitcoin is still not mature to rise against fiat currencies around the world, for now bitcoin is good for short investments

Where do you live ? I mean the most of country still use their fiat and not easy to change fiat into bitcoin. Although bitcoin has easier transactions, but bitcoin less popularity to replace the fiat.

Here in Phillipines only few people use bitcoin, because of unfamilliar, some poeple dont try bitcoin because its famous in deepweb here.

Well, bitcoin adoption is surely increasing. A year ago, the Phillipines did not even have their own local board here. Now, enough noise was created and the admins decided that granting a separate local board had become overdue.

Well, slowly its getting popular among all countries people. At present every country has very little users which is expected to grow which may just reduce the fiat usage and never stop fiat use.

As long as I can use it to buy things with bitcoin, I do not mind if it can replace the fiat or not. They can coexist.

Both fiat and crypto currency can coexist even now they are coexisting,fiat is used by people and is strong as a currency as well as bitcoin is strong as a digital currency.

what you replied is correct both have their own benefits and i think both will exist it is upto the users what they want to use, and in coming days even banks will start to accept bitcoins as fiat currency.

aakashsangwan

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It might be able to replace Fiat in few developed nations but when you think about Asian and African countries, you will notice that in most of those countries Internet is not available and without internet, bitcoin currency system is worthless and helpless. So you cannot deny the importance of Fiat ever.

RavenBitcoins

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bitcoin does not need to replace fiat. Bitcoin is a new concept. It will continue to thrive though, but fiat currencies will continue to last.

stromma44

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Quote from: co5hike on May 06, 2016, 06:11:04 AM

Quote from: betohell on May 06, 2016, 05:22:51 AM

Quote from: peta4e on May 06, 2016, 04:55:56 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.

I don't think that day will ever come in future and we don't want that bitcoin should replace fiat as both are currency which can be used as per our convenience.

why people are eager to replace fiat bitcoin? I myself satisfied bitcoin only be an option from each real money in various countries?
why do you want more than that?

Yes, and bitcoin will be used more in future but it doesn't hold the power to replace fiat as fiat is more powerful then bitcoin and popular too.

That's true but we don't want that bitcoin should replace fiat, as fiat is also important and there are many places where only fiat can be used.

co5hike

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Quote from: betohell on May 06, 2016, 05:22:51 AM

Quote from: peta4e on May 06, 2016, 04:55:56 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.

I don't think that day will ever come in future and we don't want that bitcoin should replace fiat as both are currency which can be used as per our convenience.

why people are eager to replace fiat bitcoin? I myself satisfied bitcoin only be an option from each real money in various countries?
why do you want more than that?

Yes, and bitcoin will be used more in future but it doesn't hold the power to replace fiat as fiat is more powerful then bitcoin and popular too.

betohell

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Quote from: peta4e on May 06, 2016, 04:55:56 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.

I don't think that day will ever come in future and we don't want that bitcoin should replace fiat as both are currency which can be used as per our convenience.

why people are eager to replace fiat bitcoin? I myself satisfied bitcoin only be an option from each real money in various countries?
why do you want more than that?

PinkLlama

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It is possible that Bitcoin can't replace fiat currencies but it can live alongside them regardless. The newer generation will get how good Bitcoin is and how big of a change it can do and will start using it more and more.

randy8777

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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.

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