Bitcoin can not replace fiat - page 124.

CryptoBjorn

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Quote from: vero on April 20, 2016, 03:09:15 AM

Quote from: MedaR on April 19, 2016, 11:11:32 AM

Money is not important as payment system at all and can be changed very easily..
But problem is in control, bitcoin cannot be controlled, this is why he won't replace fiat, no matter how good he is.. We living in modern times, and we producing plenty of food enough for everybody and people still die from hunger?!

if the money is not important as the payment system and how you can live in this world, what you use as your means of payment when buying something.

Indeed I also thought about that its not, and it can also not changed easily to be honest it can be changed very difficult.
This is because a lot of company's people are depending on it.

vero

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Quote from: MedaR on April 19, 2016, 11:11:32 AM

Money is not important as payment system at all and can be changed very easily..
But problem is in control, bitcoin cannot be controlled, this is why he won't replace fiat, no matter how good he is.. We living in modern times, and we producing plenty of food enough for everybody and people still die from hunger?!

if the money is not important as the payment system and how you can live in this world, what you use as your means of payment when buying something.

pooya87

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i agree with this, because of a lot of reasons. for example there will always be some people will never change their olden ways and still stick to their old fiat. also government will not let this happen and money gets out of their control. besides using fiat and banks have some benefits too although using bitcoin has a lot more benefits but you cannot overlook those benefits of banks.

sulendra12

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Quote from: arwin100 on April 03, 2016, 04:35:48 AM

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.

Yes, if flat currency dissapear. Maybe we didn't know about bitcoin anymore
So , bitcoin cannot place flat currency, maybe in future bitcoin will be universal currency..

Crazygreek

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Really can not cause bitcoin is really new currency and it's so hard for newbie become a leader, same with bitcoin and also bitcoin depends on fiat.

xht

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bitcoin can't replace fiat money because Fiat Money is wealth, It's an accounting system for facilitating the exchange of wealth and in fact bitcoin is other Speculations.

fkvidar

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Quote from: expert4knowledge on April 19, 2016, 06:09:45 PM

Quote from: beduku22 on April 19, 2016, 05:40:22 PM

Quote from: Wendigo on April 19, 2016, 02:34:09 PM

One problem with Bitcoin conquering the world is that it's a finite amount of digital money. So if it is really going to replace fiat its value must be equal to all of the money in all of the countries combined. So just imagine what a colossal sum that would be since every country can create infinite amounts of cash. I don't think such a finite financial system would work. We can't create debt and loans from finite cash. No government would allow this to happen.

Bitcoin will coexist with fiat for long time. It will not replace the fiats any time soon. Bitcoin and fiat can work together without problems. right now bitcoin is tied to fiat which is a great thing.

Maybe in future and not very near future, a modified version of bitcoin can replace fiat, for example as a result of internet of things.

Bitcoin can never replace fiat, majority of population is dependent on fiat and they find it easy to use it, do you expect a illiterate person to leave fiat and start using bitcoin.

expert4knowledge

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Quote from: beduku22 on April 19, 2016, 05:40:22 PM

Quote from: Wendigo on April 19, 2016, 02:34:09 PM

One problem with Bitcoin conquering the world is that it's a finite amount of digital money. So if it is really going to replace fiat its value must be equal to all of the money in all of the countries combined. So just imagine what a colossal sum that would be since every country can create infinite amounts of cash. I don't think such a finite financial system would work. We can't create debt and loans from finite cash. No government would allow this to happen.

Bitcoin will coexist with fiat for long time. It will not replace the fiats any time soon. Bitcoin and fiat can work together without problems. right now bitcoin is tied to fiat which is a great thing.

Maybe in future and not very near future, a modified version of bitcoin can replace fiat, for example as a result of internet of things.

fravia

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Quote from: beduku22 on April 19, 2016, 05:40:22 PM

Quote from: Wendigo on April 19, 2016, 02:34:09 PM

One problem with Bitcoin conquering the world is that it's a finite amount of digital money. So if it is really going to replace fiat its value must be equal to all of the money in all of the countries combined. So just imagine what a colossal sum that would be since every country can create infinite amounts of cash. I don't think such a finite financial system would work. We can't create debt and loans from finite cash. No government would allow this to happen.

Bitcoin will coexist with fiat for long time. It will not replace the fiats any time soon. Bitcoin and fiat can work together without problems. right now bitcoin is tied to fiat which is a great thing.

bitcoin tied to fiat is not a great thing though thats the only thing that i can disagree with, im sure that bitcoin will not replace fiat any time soon because of the lack of interest

though i believe that we just need to wait a few decades in order to make fiat disappear and bitcoin take over all the money market, i hope that my predictions are correct and that it will make me a lot of money

chaosknight

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Quote from: beduku22 on April 19, 2016, 05:40:22 PM

Quote from: Wendigo on April 19, 2016, 02:34:09 PM

One problem with Bitcoin conquering the world is that it's a finite amount of digital money. So if it is really going to replace fiat its value must be equal to all of the money in all of the countries combined. So just imagine what a colossal sum that would be since every country can create infinite amounts of cash. I don't think such a finite financial system would work. We can't create debt and loans from finite cash. No government would allow this to happen.

Bitcoin will coexist with fiat for long time. It will not replace the fiats any time soon. Bitcoin and fiat can work together without problems. right now bitcoin is tied to fiat which is a great thing.

A simple question can you buy anything with bitcoin? No.. can you buy anything with fiat? Yes..Do you need to convert your bitcoin to fiat to buy something? Yes .....I hope you got your answer.

beduku22

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Quote from: Wendigo on April 19, 2016, 02:34:09 PM

One problem with Bitcoin conquering the world is that it's a finite amount of digital money. So if it is really going to replace fiat its value must be equal to all of the money in all of the countries combined. So just imagine what a colossal sum that would be since every country can create infinite amounts of cash. I don't think such a finite financial system would work. We can't create debt and loans from finite cash. No government would allow this to happen.

Bitcoin will coexist with fiat for long time. It will not replace the fiats any time soon. Bitcoin and fiat can work together without problems. right now bitcoin is tied to fiat which is a great thing.

randy8777

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Quote from: JessicaSe on April 19, 2016, 02:37:07 PM

Quote from: Vaskiy on April 19, 2016, 02:20:35 PM

Quote from: Rune on April 19, 2016, 01:48:58 PM

It is not that Bitcoin can not replace fiat it is just that it wont.
at least not in our life time. But it will still be very useful people will adopt it to a degree.

Well time will come when people will use bitcoin and it may be accepted as a payment system in almost all countries, but replacing fiat is hard as bitcoin is only a digital currency and not the real money.

Governments will never let it happen as bitcoin is the threat to them and the entire banking system, bitcoin will widely used and accepted but it will never replace fiat.

i completely agree with you. that's one of the very few posts that actually makes sense. governments will never allow that to happen as they will lose out very hard. they will miss out on billions of profits each year. bitcoin is the great alternative. not a main currency.

JessicaSe

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Quote from: Vaskiy on April 19, 2016, 02:20:35 PM

Quote from: Rune on April 19, 2016, 01:48:58 PM

It is not that Bitcoin can not replace fiat it is just that it wont.
at least not in our life time. But it will still be very useful people will adopt it to a degree.

Well time will come when people will use bitcoin and it may be accepted as a payment system in almost all countries, but replacing fiat is hard as bitcoin is only a digital currency and not the real money.

Governments will never let it happen as bitcoin is the threat to them and the entire banking system, bitcoin will widely used and accepted but it will never replace fiat.

Wendigo

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One problem with Bitcoin conquering the world is that it's a finite amount of digital money. So if it is really going to replace fiat its value must be equal to all of the money in all of the countries combined. So just imagine what a colossal sum that would be since every country can create infinite amounts of cash. I don't think such a finite financial system would work. We can't create debt and loans from finite cash. No government would allow this to happen.

Vaskiy

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Quote from: Rune on April 19, 2016, 01:48:58 PM

It is not that Bitcoin can not replace fiat it is just that it wont.
at least not in our life time. But it will still be very useful people will adopt it to a degree.

Well time will come when people will use bitcoin and it may be accepted as a payment system in almost all countries, but replacing fiat is hard as bitcoin is only a digital currency and not the real money.

Rune

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It is not that Bitcoin can not replace fiat it is just that it wont.
at least not in our life time. But it will still be very useful people will adopt it to a degree.

MedaR

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Money is not important as payment system at all and can be changed very easily..
But problem is in control, bitcoin cannot be controlled, this is why he won't replace fiat, no matter how good he is.. We living in modern times, and we producing plenty of food enough for everybody and people still die from hunger?!

stromma44

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Quote from: goinmerry on April 19, 2016, 10:36:00 AM

Quote from: landoadog on April 19, 2016, 10:29:24 AM

I believe that bitcoin will never replace fiat because fiat is a well organized money and fiat system is supported by every government around the world and each money that a country have has its history behind it.

You got the right answer Sir. True, seeing the faces of our dear heroes and presidents in fiat is history in a paper. And kids will see that letting them know the history or origin of his country.

That's true but I think there should be some alternate for fiat currency, and bitcoin can be one of that, the only thing is we need mass adaption and awareness among the people.

mrhelpful

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Quote from: Hellacopter on April 19, 2016, 10:30:27 AM

For now Bitcoin can't replace fiat i agree with this idea, but in the future everything is possible, if bitcoin conquer the world as expected, may be in 20 or even 50 years, it could be used worldwide and replacing fiat

Without fiat, there is no real form of metric for bitcoin.

Its just that simple, unless you can actually get the physical gold value to be traded back instead which I think most people would probably find more of a hassle.

goinmerry

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Quote from: landoadog on April 19, 2016, 10:29:24 AM

I believe that bitcoin will never replace fiat because fiat is a well organized money and fiat system is supported by every government around the world and each money that a country have has its history behind it.

You got the right answer Sir. True, seeing the faces of our dear heroes and presidents in fiat is history in a paper. And kids will see that letting them know the history or origin of his country.

Topic: Bitcoin can not replace fiat - page 124. (Read 163793 times)