Bitcoin can not replace fiat - page 12.

heraldlazaro25

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Quote from: Parazyd on December 23, 2015, 10:54:15 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.

I totally agreed to you. It is impossible for bitcoin to replace fiat. Bitcoin cannot be a national currency because not all the people in the world has an idea about bitcoin or how to use it especially the poor people. There are many things to consider before becoming a national currency and bitcoin does not have some of that.

goldcoinminer

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Quote from: Hashew on February 19, 2018, 02:36:29 AM

I don't think we will see any mass adoption of a currency in the world. Atleast in our life time, their is too much greed.

It will not happen with bitcoin I guess or depending on our definition on mass adoption.
If mass adoption means it's majority of the people in the world, I think it's really impossible to achieve it.

Hashew

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I don't think we will see any mass adoption of a currency in the world. Atleast in our life time, their is too much greed.

MMS2017

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Bitcoin is using through internet and the currencies like fiat is using with out internet and for fiat currency the internet knowledge is not necessary so it is said that most of the people will use bitcoin but it will not replace fiat. With the bitcoin some transactions are easy to do and with this the transaction time and cost are minimized So If we have internet knowledge then the investment is good for now.

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Quote from: quality.crypto on February 19, 2018, 01:01:52 AM

Bitcoin cannot replace fiat but government will come up a different inorder to replace the fiat currency. Now a days we are seeing many people are using their payments through digital transactions mostly. So they will come up with a different currency.

The government is so powerful, they can do everything to disrupt the cryptocurrency world and just like what we have witnessed,
some country is banning bitcoin and it has significantly affect the price of bitcoin, lucky now we are slowly going up.

quality.crypto

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Bitcoin cannot replace fiat but government will come up a different inorder to replace the fiat currency. Now a days we are seeing many people are using their payments through digital transactions mostly. So they will come up with a different currency.

melliana

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I believe that bitcoin can not replace fiat in anyway. Fiat has legal and acquisition from the country and law, but bitcoin doesn't have that. It will be very difficult to make it real because countries has to discuss and make foundation.

vionas

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Quote from: Parazyd on December 23, 2015, 10:54:15 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.

We can turn bitcoin into fiat money for easy transaction, and of course we prefer convenience. Bitcoin is better in terms of investment, because it is very profitable.

Triyavam

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Bitcoin does not depend on changes in the value of underlying assets, such as gold or silver, but is supported by market principles based on supply and demand,
The Fiat currency gets the value of a central bank asset or support,
In contrast, bitcoin derives its value from the scarcity of limited quantities available in circulation or from mining operations,
as time goes by, more and more companies are receiving bitcoin and will approach its use like fiat.

kirana08

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Yes, because bitcoin is a bitcoin, it can not be replaced with anyone and anything, and also bitcoin can not replace anyone and others, because it's natural law like that, leave it in place and their respective positions.

Ahiaba

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Yes Bitcoin cannot replace faith currency in any way all .

Mhedz

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Bitcoin couldn't probably replace fiat because there's some countries who's used to banned bitcoin and it's not yet accepted as payment option in any convenience or grocery store. As long as it is convertible into fiat,im ok with it.

Pinkris128

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Quote from: k00d8 on February 18, 2018, 06:25:57 PM

It can but I don't think it will happen any time soon. It will take some time. We also have to bear in mind technology-gaps, age gaps, educational gaps.

Yes but I think it was impossible this time. What would I say so simply becauae there are alreadg country who banned bitcoin. Aside from that people who doesnt have internet connection cant have access on it. Think about the beggars or people in the lower class, in all bitcoin will still bitcoin and fiat will still remain because it was supported by the government and everyone can use it compare to bitcoin that only those who know to access it can used and earn it.

shursight

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If you really think that bitcoin will replace fiat in just a few years from now, then let me tell you that you are a complete dumbass. Please, stop watching 100's of movies because they are not healthy for you.

Quote from: k00d8 on February 18, 2018, 06:25:57 PM

It can but I don't think it will happen any time soon. It will take some time. We also have to bear in mind technology-gaps, age gaps, educational gaps.

julzcoinbit

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Quote from: stayeduptolate on February 18, 2018, 05:58:12 PM

Quote from: Parazyd on December 23, 2015, 10:54:15 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.

Yes. I do believe that bitcoin can not replace fiat currency because firstly, fiat currency is way more popular than bitcoin and fiat currency also has way more users than bitcoin around the world. Secondly, fiat currency is trusted by everyone throughout the world whereas bitcoin is not trusted by everyone. Fiat currency is also accepted by everyone around the globe whereas bitcoin is not accepted by everyone. There are only limited people and places where bitcoin is accepted.

I agree and it can't never be happen, as long as bitcoin keep on decentralized, so government can't take full control of it. Aside from that there are some countries that has a people don't know how to use internet, so therefore they don't know about bitcoin. That's why it can't reall be happen that fiat will replace to bitcoin.

k00d8

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It can but I don't think it will happen any time soon. It will take some time. We also have to bear in mind technology-gaps, age gaps, educational gaps.

stayeduptolate

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Quote from: Parazyd on December 23, 2015, 10:54:15 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.

Yes. I do believe that bitcoin can not replace fiat currency because firstly, fiat currency is way more popular than bitcoin and fiat currency also has way more users than bitcoin around the world. Secondly, fiat currency is trusted by everyone throughout the world whereas bitcoin is not trusted by everyone. Fiat currency is also accepted by everyone around the globe whereas bitcoin is not accepted by everyone. There are only limited people and places where bitcoin is accepted.

Scavagers

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Quote from: Parazyd on December 23, 2015, 10:54:15 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.

of course it is not, fiat is created for the convenience of people because of its easy transaction, you can easily pay for what you buy,depends on the situation though but fiat is used more in daily basis than bitcoin. Also bitcoin is so volatile making it great or terribly bad. Fiat is the most available and more acquirable than crypto currency,bitcoin is just available through the use of technology while fiat requires none.

balamuda

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Quote from: Parazyd on December 23, 2015, 10:54:15 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.

The speed of fiat money transactions is faster than bitcoin, because bitcoin is not for small transactions, but better in investment. We can change the bitcoin into new fiat money we use it for daily transactions.

JMD07

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Quote from: Master Third on February 18, 2018, 07:38:54 AM

I believe that bitcoin can't replace the fiat money. Not all people really have an access about bitcoin, and also bitcoin price is always calculate base on this fiat money not just only bitcoin but all cryptos. So if bitcoin will replace the fiat money then it would be hard for it to calculate its value. And aside from that i also believe that bitcoin is created not to replace the fiat but to become free only under the rule and lousy system of our world under the management of the government.

Due to volatility of bitcoin price and it's limited amounts, I don't think this is the right currency to replace fiat money in the future. The government and the banks will surely against this transformation. The world is not ready for that changes as we know that most of country has no support about bitcoin. I will prefer a combination of fiat and bitcoin as we had it now for the good of the system. As for me, bitcoin is a assets not a currency.

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