Bitcoin can not replace fiat - page 120.

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Quote from: MaritiJames3 on April 30, 2016, 01:26:12 PM

Quote from: richjohn on April 30, 2016, 01:18:33 PM

Quote from: romero121 on April 30, 2016, 01:14:35 PM

Quote from: Oralmat on April 30, 2016, 09:13:02 AM

Bitcoin cannot replace fiat is not true. It will replace soon

Not at all a possible thing. Till the day we describe bitcoin in terms of dollar or some other form of currency, bitcoin would never replace fiat.

Fiat is still need and necessary since we are using it to buy goods in the real world. Bitcoin only used to buy online gooda and services and can only be used online.

There is no need for bitcoin to replace fiat since these are 2 seperate things. I would like bitcoin to be an option next to fiat. Sine both of them are very handy.

And for offline world people need fiat more as for them fiat is much convenient to pay for the goods on their local market, and they pay to the seller with the fiat within no time without any transaction fee.

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Quote from: harizen on May 02, 2016, 07:20:00 AM

More importantly, why such make a desire to have fiat be replaced by bitcoin?

Do you know some major effects in one country's economy if that will happened?

Instead of a physical coin, there will be a digital coin. No tax. Anonymous transactions. People can't trace scammers. That's all that I see for now. One cannot say that these are disadvantage/advantage of bitcoin replacing fiat because we can't really assure what will be the effect of this to the economy knowing that most people got used to pay their things using fiat money.

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Quote from: richkellj on April 30, 2016, 11:44:18 PM

In most of the countries only few people use bitcoin, because of unfamiliar, some poeple dont try bitcoin because its not famous , That is the biggest hurdle that bitcoin is not replacing the FAIT

The bitcoin will indeed not replace the fiat but I do not think that this is because the bitcoin is not popular because its getting more popular by day.
I think its because people are scared to invest in it and other currency's will still be too big.

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

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Quote from: The Arcitect on April 30, 2016, 08:59:46 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.

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More importantly, why such make a desire to have fiat be replaced by bitcoin?

Do you know some major effects in one country's economy if that will happened?

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Quote from: prtty2gal2 on May 01, 2016, 03:50:08 PM

Quote from: Supercrypt on May 01, 2016, 11:27:46 AM

Quote from: romero121 on April 30, 2016, 01:14:35 PM

Quote from: Oralmat on April 30, 2016, 09:13:02 AM

Bitcoin cannot replace fiat is not true. It will replace soon

Not at all a possible thing. Till the day we describe bitcoin in terms of dollar or some other form of currency, bitcoin would never replace fiat.

Yes it is very hard for the bitcoin to compete any other currency to replace it as bitcoin has much less legal supports from the governments as relative to other currencies which have big countries and powerful governments to support.

On our physical world, yes it is not possible that bitcoin will replace it as it do not have that much power currently as the fiat has , but on the digital it has chances that it replace the dollar and other currencies.

Well said in the digital currency network without doubt bitcoin is in the lead and no other alts had such a long history. Coming to physical fiat replacement, its not at all possible.

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Quote from: expert4knowledge on May 01, 2016, 03:34:23 PM

Quote from: KingdomHearts on May 01, 2016, 06:54:34 AM

Yes, bitcoin cannot replace fiat and it will remain on its place while , as both of the currencies have their own places, bitcoin is invented for the oline use and online businesses while the fiat is working good for the offline use at the local markets and other shops etc.

There is a strong possibility that bitcoin becomes much more popular among people and the usage of it increases however it is not replaced simply.

I disagree about the fact that the fiat is only for offline markets because you can see that fiat is also getting more online so the bitcoin will get it difficult one day.
There is a good chance that the bitcoin will never replace the fiat.

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Quote from: Supercrypt on May 01, 2016, 11:27:46 AM

Quote from: romero121 on April 30, 2016, 01:14:35 PM

Quote from: Oralmat on April 30, 2016, 09:13:02 AM

Bitcoin cannot replace fiat is not true. It will replace soon

Not at all a possible thing. Till the day we describe bitcoin in terms of dollar or some other form of currency, bitcoin would never replace fiat.

Yes it is very hard for the bitcoin to compete any other currency to replace it as bitcoin has much less legal supports from the governments as relative to other currencies which have big countries and powerful governments to support.

On our physical world, yes it is not possible that bitcoin will replace it as it do not have that much power currently as the fiat has , but on the digital it has chances that it replace the dollar and other currencies.

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Quote from: KingdomHearts on May 01, 2016, 06:54:34 AM

Yes, bitcoin cannot replace fiat and it will remain on its place while , as both of the currencies have their own places, bitcoin is invented for the oline use and online businesses while the fiat is working good for the offline use at the local markets and other shops etc.

There is a strong possibility that bitcoin becomes much more popular among people and the usage of it increases however it is not replaced simply.

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Quote from: romero121 on April 30, 2016, 01:14:35 PM

Quote from: Oralmat on April 30, 2016, 09:13:02 AM

Bitcoin cannot replace fiat is not true. It will replace soon

Not at all a possible thing. Till the day we describe bitcoin in terms of dollar or some other form of currency, bitcoin would never replace fiat.

Yes it is very hard for the bitcoin to compete any other currency to replace it as bitcoin has much less legal supports from the governments as relative to other currencies which have big countries and powerful governments to support.

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Quote from: zerocharisma on May 01, 2016, 12:48:46 AM

Quote from: richkellj on April 30, 2016, 11:44:18 PM

In most of the countries only few people use bitcoin, because of unfamiliar, some poeple dont try bitcoin because its not famous , That is the biggest hurdle that bitcoin is not replacing the FAIT

There are so many factor why it can't replace fiat. It's not just because of popularity or being unfamiliar. Not all countries is reach, there are still third world countries that has no electricity, internet or can't even buy phones.
Maybe in the future it will until these countries rise up. But i think it's gonna be long waiting.

beside third world countries having barely access to power and internet there is an even more important reason why bitcoin will never replace fiat currencies. and that's control over the entire economy. if they allow bitcoin to take over, then the control over the financial aspect of an economy will be in the hands of the people instead of governments and their supported banks. they will lose out on many billions every year. they will never let that happen.

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Yes, bitcoin cannot replace fiat and it will remain on its place while , as both of the currencies have their own places, bitcoin is invented for the oline use and online businesses while the fiat is working good for the offline use at the local markets and other shops etc.

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Quote from: romero121 on April 30, 2016, 01:14:35 PM

Quote from: Oralmat on April 30, 2016, 09:13:02 AM

Bitcoin cannot replace fiat is not true. It will replace soon

Not at all a possible thing. Till the day we describe bitcoin in terms of dollar or some other form of currency, bitcoin would never replace fiat.

yeah I agree with you. as good as any bitcoin. bitcoin will not be accepted by many countries and will continue to be a fiat currency for each country.
they will not switch to the bitcoin

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Quote from: richkellj on April 30, 2016, 11:44:18 PM

In most of the countries only few people use bitcoin, because of unfamiliar, some poeple dont try bitcoin because its not famous , That is the biggest hurdle that bitcoin is not replacing the FAIT

There are so many factor why it can't replace fiat. It's not just because of popularity or being unfamiliar. Not all countries is reach, there are still third world countries that has no electricity, internet or can't even buy phones.
Maybe in the future it will until these countries rise up. But i think it's gonna be long waiting.

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Quote from: richkellj on April 30, 2016, 11:44:18 PM

In most of the countries only few people use bitcoin, because of unfamiliar, some poeple dont try bitcoin because its not famous , That is the biggest hurdle that bitcoin is not replacing the FAIT

No even if all people using bitcoin they cant replace fiat. What if all people using bitcoin and we dont have fiat what are we using? Bitcoin?. If Bitcoin is our fiat How we can transfer the bitcoin if we dont have internet? We dont have electricity?. Bitcoin cant replace fiat even if bitcoin is famous or even if all people in the world are using bitcoin.

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In most of the countries only few people use bitcoin, because of unfamiliar, some poeple dont try bitcoin because its not famous , That is the biggest hurdle that bitcoin is not replacing the FAIT

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Quote from: The Arcitect on April 30, 2016, 08:59:46 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.

I think it is impossible as bitcoin is depending upon fiat and 5 years time is a very short duration also we can't use bitcoin in local stores now as we need fiat to purchase from nearby stores.

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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.

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Quote from: Oralmat on April 30, 2016, 09:13:02 AM

Bitcoin cannot replace fiat is not true. It will replace soon

Bitcoin cannot replace fiat because we using bitcoin for earning fiat. We need fiat for our daily cost like, buying foods, paying for the vehicle, buying oil for vehicle, and other things that we need for our daily lives. And Fiat can use without internet. So Bitcoin cant replace fiat. But we need bitcoin to earn fiat.

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