Bitcoin can not replace fiat - page 122.

Fatanut

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Quote from: xuan87 on April 27, 2016, 07:38:31 AM

It is impossible bitcoin can replace fiat, country need the people to used fiat more often so they have a balanced and better economics condition, if bitcoin replace fiat then the fiat of the country wont be useful anymore and then that country economics will be having huge impact

But in the far future it's still possible for bitcoin to replace fiat. Imagine worldwide transfer without (or with low) fees. If everyone has their own wallet, I don't think it's hard to adapt with bitcoin 'coz our world is currently full of technology. We will be filled with high technology sooner or later. Well, that's what I believe, at least.

When we rich that digital age, when everything's done on the computer including transactions and stuff. I believe there's a chance that most people will use bitcoin instead of fiat. Thus, eventually making the world not using fiat.

bitgolden

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Quote from: Vaskiy on April 23, 2016, 01:26:18 PM

Quote from: n0ne on April 23, 2016, 01:15:30 PM

Quote from: silencesilence on April 23, 2016, 10:23:45 AM

I fully agree that Bitcoin can not replace paper money, but it can become unified world currency accepted all over the world Wink

As mentioned replacing fiat or paper money is imaginary. It might be accepted by most users as an unified payment portal for higher transactions which takes time if processed through banking network.

Yeah I agree bitcoin can never replace fiat, also it is hard to accept bitcoin all over the world legally as it is considered as a threat for the banking systems in most of the countries.

It is only thought as the thread as a risk for the banking system but is not considered in actual, the reality is that banks have a lot of other works also besides saving money for people and earning from there.

avw1982

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Quote from: pereira4 on April 27, 2016, 09:05:07 AM

Bitcoin doesn't necessary aim at replacing fiat, as long as we can absorb a lot of fiat and a lot of gold and a lot of money spread all over a variety of stupid assets that aren't worth it, we will become one of the strongest commodities ever challenging gold for first spot. Once governments kick in with their plants to ban cash and negative interest rates we will all be rich (amusing you are holding more than 10 BTC already)

It is getting easier and easier to acquire bitcoins, and sooner or later everyone will have easy access to it. I guess you are not seeing things how they really are! Today, many people already receive part of their payroll in companies like Dell, Sony and more pays by BTC, so the currency is actually starting to flow and that's what's needed for it to take off.

pereira4

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Bitcoin doesn't necessary aim at replacing fiat, as long as we can absorb a lot of fiat and a lot of gold and a lot of money spread all over a variety of stupid assets that aren't worth it, we will become one of the strongest commodities ever challenging gold for first spot. Once governments kick in with their plants to ban cash and negative interest rates we will all be rich (amusing you are holding more than 10 BTC already)

Jasad

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Quote from: silencesilence on April 23, 2016, 10:23:45 AM

I fully agree that Bitcoin can not replace paper money, but it can become unified world currency accepted all over the world Wink

I think all members here also agree with that,bitcoin will not replace paper money or fiat,its almost impossible,even bitcoin become global curreny,people will not leave money.

xuan87

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It is impossible bitcoin can replace fiat, country need the people to used fiat more often so they have a balanced and better economics condition, if bitcoin replace fiat then the fiat of the country wont be useful anymore and then that country economics will be having huge impact

E1337

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I agree that in its current form Bitcoin cannot hope to replace fiat but the technology can still evolve. Although if it did replace fiat it would be a Bitcoin very different from the one we know today. And you can most definitely forget about anonymity, governments will most likely be able to track the movement of every Satoshi in the world and link it to identifiable people.
Hard cash will always be the most anonymous you can get

goinmerry

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Quote from: WEBcreator on April 25, 2016, 02:21:57 AM

Quote from: goinmerry on April 25, 2016, 02:10:24 AM

True. If there will be a new currency or a fiat I bet they wont use bitcoin as it is now. Maybe they will want something new and can be touched by people where they could believe in.

The world change and people need to adapt with it, those who cant adapt with it will fall. The next world going to be fun where people will never hold any cash or fiat anymore but every transaction will be based on a digital currency, eventhough it is not necessary that people will be using bitcoin but it will happen soon enough

That could be true or not. We cannot see the future, but we can see the world falling. We dont even know if we will still be alive in that moment that you are talking about. Hell! even every day is a fight in the road.

h3rlihy

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It's useful as an option but I can't see it ever being a complete replacement. Apart from potential online sales due to the several hour (sometimes) confirmations being less of a concern.

E1337

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Bitcoin will became an option to pay at online shops,at the real i dont know if the merchants will accept bitcoin but the main control of the transactions will be always fiat,bitcoin cant replace it now today and maybe never. Undecided

GamingBro

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Bitcoin can join fiat team but replacing fiat is so stange, people will never forget about dollar and other currencys so we just need to use bitcoin and forget about this replacing.

wuvdoll

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Quote from: silencesilence on April 23, 2016, 10:23:45 AM

I fully agree that Bitcoin can not replace paper money, but it can become unified world currency accepted all over the world Wink

Yes, it will be a unified world currency and will be acceptable by all the countries of the world , a time is coming sooner when bitcoinwill be a global currency of the internet and will be accepted worldwide for virtual use.

fkvidar

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Quote from: WEBcreator on April 25, 2016, 02:21:57 AM

Quote from: goinmerry on April 25, 2016, 02:10:24 AM

True. If there will be a new currency or a fiat I bet they wont use bitcoin as it is now. Maybe they will want something new and can be touched by people where they could believe in.

The world change and people need to adapt with it, those who cant adapt with it will fall. The next world going to be fun where people will never hold any cash or fiat anymore but every transaction will be based on a digital currency, eventhough it is not necessary that people will be using bitcoin but it will happen soon enough

One thing is sure that most of the people would be using digital currency in future may be bitcoin or some other new currency that we will be seeing in future.

Karartma1

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Quote from: JumperX on April 24, 2016, 05:54:06 AM

Quote from: Karartma1 on April 24, 2016, 05:50:30 AM

I don't think BTC is meant to replace fiat money. I think we will always need some fiat money to deal with. But it won't be long before weìll have a national currency based on BTC, and that scares me.

That is not possible, bitcoin will always be treated as an secondary currency or as an alternate currency, and fiat will always be on the top in future too.

Either you misread my post or simply you did not bother too much getting its sense.

Quote from: KennyR on April 24, 2016, 07:21:18 AM

Quote from: Karartma1 on April 24, 2016, 05:50:30 AM

I don't think BTC is meant to replace fiat money. I think we will always need some fiat money to deal with. But it won't be long before weÃ¬ll have a national currency based on BTC, and that scares me.

Bitcoin is not meant to replace fiat. It is developed to be an alternate currency which is getting more adoption day by day.

The same goes to you. You guys don't read

WEBcreator

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Quote from: goinmerry on April 25, 2016, 02:10:24 AM

True. If there will be a new currency or a fiat I bet they wont use bitcoin as it is now. Maybe they will want something new and can be touched by people where they could believe in.

The world change and people need to adapt with it, those who cant adapt with it will fall. The next world going to be fun where people will never hold any cash or fiat anymore but every transaction will be based on a digital currency, eventhough it is not necessary that people will be using bitcoin but it will happen soon enough

goinmerry

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Quote from: KennyR on April 24, 2016, 07:21:18 AM

Quote from: Karartma1 on April 24, 2016, 05:50:30 AM

I don't think BTC is meant to replace fiat money. I think we will always need some fiat money to deal with. But it won't be long before weìll have a national currency based on BTC, and that scares me.

Bitcoin is not meant to replace fiat. It is developed to be an alternate currency which is getting more adoption day by day.

True. If there will be a new currency or a fiat I bet they wont use bitcoin as it is now. Maybe they will want something new and can be touched by people where they could believe in.

KennyR

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Quote from: Karartma1 on April 24, 2016, 05:50:30 AM

I don't think BTC is meant to replace fiat money. I think we will always need some fiat money to deal with. But it won't be long before weìll have a national currency based on BTC, and that scares me.

Bitcoin is not meant to replace fiat. It is developed to be an alternate currency which is getting more adoption day by day.

JumperX

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Quote from: Karartma1 on April 24, 2016, 05:50:30 AM

I don't think BTC is meant to replace fiat money. I think we will always need some fiat money to deal with. But it won't be long before weìll have a national currency based on BTC, and that scares me.

That is not possible, bitcoin will always be treated as an secondary currency or as an alternate currency, and fiat will always be on the top in future too.

Karartma1

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I don't think BTC is meant to replace fiat money. I think we will always need some fiat money to deal with. But it won't be long before weìll have a national currency based on BTC, and that scares me.

MedaR

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We must be ready for many situations, from bitcoin regulations to goxed exchanges.. This is jet very young system so many problems are not solved yet. Nobody talking about security, and usability. Majority here just speculate about price.
We live in system where everything is based on money,
why should banks leave their control of the world for the love of bitcoin?
Bitcoin also have competitors, and by time this will become more serious.

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