Bitcoin can not replace fiat - page 127.

Mr. Big

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Quote from: kenot21 on April 02, 2016, 01:45:30 AM

Including source of income of government. Some countries are still on a third world country and most of the people there can't even afford to buy a mobile or pay a internet. Some people will get left behind if the government accept bitcoin.

Yeah, probably that is one disadvantage, some would be left behind, But I think, if the new government would start, and they are inclined to technology and not into blaming the last regime to not doing it, I think it will be a success.. But I think bitcoin won't replace fiat...That's for sure..they are in the control of the government..

kenot21

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Including source of income of government. Some countries are still on a third world country and most of the people there can't even afford to buy a mobile or pay a internet. Some people will get left behind if the government accept bitcoin.

nostal02

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Quote from: uname on April 01, 2016, 11:00:18 PM

Quote from: Kartikay on March 31, 2016, 01:42:00 PM

I think bitcoin can replace fiat but it will take lot of time to do so.
Paper money system is well established for long time,bitcoin still have to be stable.

is it possible if bitcoin price going stable and replace fiat ? because you say bitcoin must be stabilized in order to replace the banknotes?
but it takes a long time. i know

Even if bitcoin have a stable price it will not replace fiat because fiat is the source of power in any government and with that they allow their money to be replace.

uname

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Quote from: Kartikay on March 31, 2016, 01:42:00 PM

I think bitcoin can replace fiat but it will take lot of time to do so.
Paper money system is well established for long time,bitcoin still have to be stable.

is it possible if bitcoin price going stable and replace fiat ? because you say bitcoin must be stabilized in order to replace the banknotes?
but it takes a long time. i know

lolgato1

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Bitcoin won't ever take fiat any time soon but we cannot know as anything can happen. I will stand by my point that fiat will always be there. But bitcoin will be up there with it. Fiat has already set it's stance into the world while bitocin is just coming up. So I will wait a bit before judging anything.

rio3233

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Quote from: Hellacopter on April 01, 2016, 11:04:22 AM

uᴉoɔʇᴉq can't replace fiat in my opinion, because already fiat and cash is used nowadays a lot more than uᴉoɔʇᴉq online and offline as well. So for now we need just to support uᴉoɔʇᴉq more and advertise it to be used like fiat

Quite agree, uᴉoɔʇᴉq would be effective for replacing digital money just like paypal or any web money,and the only chance for replacing fiat is debit card

Yeah you are right. Bitcoin is one of the best digital money, and maybe someday bitcoin can replace the fiat. But i think it's impossible though. why not both bitcoin and fiat can go along together.

delliaerd

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Quote from: ezview on April 01, 2016, 09:06:04 PM

it already has for some people in some places

Yes it happens in few places but in the most places even country still use fiat rather than bitcoin .

ezview

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it already has for some people in some places

eddyubachs

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Quote from: West man on April 01, 2016, 03:42:23 PM

Quote from: Mr. Big on April 01, 2016, 02:19:57 AM

Quote from: Crazygreek on March 31, 2016, 02:13:58 PM

uᴉoɔʇᴉq can become equal to fiat but can't replace it. Dollar one of the strongest and trusted currency so it really imposible to compete it.

That's true, uᴉoɔʇᴉq might become a strong currency that might top some currencies, but it cannot replace fiat...uᴉoɔʇᴉq would be the best currency in the internet and online transaction, but fiat would always be above it...

True, it can not replace it as it digital and fiat is physical. That would mean that everyone in the world would need to be connect, which is impossible. Not every single person in the world has internet access nor touched a computer for that matter. Fiat will dominate the financial world until the time that internet access is accessible from every corner of the world including machu picchu Grin

That's true bitcoin will be used mainly by those who are addicted to internet, people who don't spend time on internet will continue to use fiat even if the bitcoin gets on the mainstream.

West man

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Quote from: Mr. Big on April 01, 2016, 02:19:57 AM

Quote from: Crazygreek on March 31, 2016, 02:13:58 PM

uᴉoɔʇᴉq can become equal to fiat but can't replace it. Dollar one of the strongest and trusted currency so it really imposible to compete it.

That's true, uᴉoɔʇᴉq might become a strong currency that might top some currencies, but it cannot replace fiat...uᴉoɔʇᴉq would be the best currency in the internet and online transaction, but fiat would always be above it...

True, it can not replace it as it digital and fiat is physical. That would mean that everyone in the world would need to be connect, which is impossible. Not every single person in the world has internet access nor touched a computer for that matter. Fiat will dominate the financial world until the time that internet access is accessible from every corner of the world including machu picchu Grin

greBit

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Quote from: Herbert2020 on April 01, 2016, 03:01:56 AM

Quote from: lissandra on April 01, 2016, 02:24:05 AM

Quote from: Crazygreek on March 31, 2016, 02:13:58 PM

uᴉoɔʇᴉq can become equal to fiat but can't replace it. Dollar one of the strongest and trusted currency so it really imposible to compete it.

theres a huge debate either we know the dollar being the strongest for now obviously.

but theres a change in the wind of how china wants to see their yuan become #1 replacing it theres a article on their dominance on wanting to change that.

but in general i still don't think that uᴉoɔʇᴉq can ever replace fiat. because it is a global currency after all and each Country has its own money system and their government (as the one printing that money) will never let their currency be replaced by uᴉoɔʇᴉq

Agree with you ...It is very difficult that bitcoin can be replaced to fiat.....if it has to happen then atleast it will not happen for coming 100 years.....
If it happens then btc will become the standard one which i feel government will never let this happen.

Mastercon

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Quote from: nejibens on April 01, 2016, 11:21:56 AM

I don't think that uᴉoɔʇᴉq can replace fiat nowadays
It's a lot hard because uᴉoɔʇᴉq not known enough right now

In a few decades, I think bitcoin or other digital coins will replace the paper notes. Governments will also issue digital currencies.

nejibens

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I don't think that Bitcoin can replace fiat nowadays
It's a lot hard because Bitcoin not known enough right now

Hellacopter

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Bitcoin can't replace fiat in my opinion, because already fiat and cash is used nowadays a lot more than Bitcoin online and offline as well. So for now we need just to support Bitcoin more and advertise it to be used like fiat

Herbert2020

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Quote from: lissandra on April 01, 2016, 02:24:05 AM

Quote from: Crazygreek on March 31, 2016, 02:13:58 PM

uᴉoɔʇᴉq can become equal to fiat but can't replace it. Dollar one of the strongest and trusted currency so it really imposible to compete it.

theres a huge debate either we know the dollar being the strongest for now obviously.

but theres a change in the wind of how china wants to see their yuan become #1 replacing it theres a article on their dominance on wanting to change that.

but in general i still don't think that bitcoin can ever replace fiat. because it is a global currency after all and each Country has its own money system and their government (as the one printing that money) will never let their currency be replaced by bitcoin

lissandra

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Quote from: Crazygreek on March 31, 2016, 02:13:58 PM

uᴉoɔʇᴉq can become equal to fiat but can't replace it. Dollar one of the strongest and trusted currency so it really imposible to compete it.

theres a huge debate either we know the dollar being the strongest for now obviously.

but theres a change in the wind of how china wants to see their yuan become #1 replacing it theres a article on their dominance on wanting to change that.

Mr. Big

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While my guitar gently weeps!!!

Quote from: Crazygreek on March 31, 2016, 02:13:58 PM

uᴉoɔʇᴉq can become equal to fiat but can't replace it. Dollar one of the strongest and trusted currency so it really imposible to compete it.

That's true, bitcoin might become a strong currency that might top some currencies, but it cannot replace fiat...Bitcoin would be the best currency in the internet and online transaction, but fiat would always be above it...

Crazygreek

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Bitcoin can become equal to fiat but can't replace it. Dollar one of the strongest and trusted currency so it really imposible to compete it.

Boosterious

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Quote from: Crazygreek on March 28, 2016, 01:08:33 PM

Sure bitcoin can't. Firstly bitcoin need to grow and become popular like dollar. Then need to proof that bitcoin is better then dollar. Same with other fiat.

how if in the future there's no more papper money and other currency,and there just crypto currency for payment,lets say we were on 2100,its long time future,just like on movie,no more cash money,it was possible in my opinion.

Kartikay

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I think bitcoin can replace fiat but it will take lot of time to do so.
Paper money system is well established for long time,bitcoin still have to be stable.

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