Bitcoin can not replace fiat - page 133.

davinchi

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Quote from: a7mos on January 21, 2016, 09:16:43 AM

bitcoin can replace fiat in the future . but this will need more stable price

I read a news that china is thinking about degitalize their currency, and that means it is possible

Yes, bitcoin can replace the fiat even it is invented for online use. For virtual/internet use, bitcoin may replace other processors like Paypal and will become the No.1 very soon. Fiat will loose it's own place slowly to bitcoin in upcoming years, this also for sure to happen.

a7mos

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bitcoin can replace fiat in the future . but this will need more stable price

I read a news that china is thinking about degitalize their currency, and that means it is possible

nerFohanzo

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Quote from: bitba.org on January 19, 2016, 01:11:48 PM

No. Never. But BTC could became a good alternative to $, CNY and Euro

Yeah, bitcoin will always be treated as an secondary currency and not a primary one, as I don't think that any crypto can replace fiat currency, compare the market cap of bitcoin and fiat, fiat has more customer base as compared to bitcoin and people don't easily invest into crypto as they have fear of loosing their money, and fiat is widely used and widely accepted, so people prefer fiat more over bitcoins.

rahelia

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and it probably will happen , because bitcoin higher demand from year to year , and the development is very rapid .

lubi

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for while this may not be replaced , but I hope fiat was not replaced with bitcoin , I hope bitcoin into precious metals such as gold , pearl , diamond .

Lokfar

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Fiat money will be always the number one I think bitcoin will be huge, but won't be replace.
They are just much people that don't use or know bitcoin. The government won't just replace bitcoin, because they don't like it that much.

MaritiJames3

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Quote from: bitba.org on January 19, 2016, 01:11:48 PM

No. Never. But BTC could became a good alternative to $, CNY and Euro

Yes indeed. I don't think btc could ever replace anything. Fiat is not depending on bitcoin so no matter what happens with bitcoin.

It will have little to no effect at all to fiat.

allthingsbtc

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Crypto swag

I think it's already as easy to pay with bitcoin as it is with cash.

However, someone needs to figure out a solution to recurring payments for subscriptions...

bitba.org

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No. Never. But BTC could became a good alternative to $, CNY and Euro

studas

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Quote from: BeGoods on January 11, 2016, 06:34:51 AM

Quote from: jaysabi on January 10, 2016, 04:21:15 PM

Quote from: Decoded on January 01, 2016, 08:59:22 PM

Bitcoin is good to be an asset. Not a currency. it's too volatile. Bitcoin can go up and down, it's to be traded and made profit, not used to buy things. Currencies are mean't to be unstable, they're meant to be a sort of ruler to measure the value of a good. How can you find the length of something when your cm/m values are always changing?

Exactly, one of the most important aspects of money is that it is a stable store of value. Highly volatile assets fail this crucial test.

first bitcoin made is for an investment or asset but as time goes by bitcoin is not just an asset many people are using bitcoin, very fast adoption and now many stores that accept bitcoin as a payment option

does not rule out the possibility that, bitcoin prices in the future will be stable

When the market cap of bitcoin becomes very big, it is more difficulty to pump and dump. So it will be more stable.

MTBTT

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Quote from: ivanst776 on January 10, 2016, 08:17:38 AM

Quote from: MTBTT on January 10, 2016, 08:08:01 AM

Quote from: ivanst776 on January 10, 2016, 06:58:59 AM

It's really hard to think that bitcoin will replace fiat one day, fiat will stay always as it is the oldest and first currency to trade things and services.

yeah all existing rules, fiat has a government regulation and of course the majority of people would choose fiat,
but the days will be changed, all done online, including the payment
the question is, can fiat money evolve ?

Everything is going digital and only virtual digits, time by time we will see that the real printed cash will be very rare to find.

yeah, the future of all payments and transactions will be done online or digital
Now atm and debit cards are needed and bitcoin can do that, but fiat also could do that
I think bitcoin will be difficult to change the fiat

BeGoods

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Quote from: jaysabi on January 10, 2016, 04:21:15 PM

Quote from: Decoded on January 01, 2016, 08:59:22 PM

Bitcoin is good to be an asset. Not a currency. it's too volatile. Bitcoin can go up and down, it's to be traded and made profit, not used to buy things. Currencies are mean't to be unstable, they're meant to be a sort of ruler to measure the value of a good. How can you find the length of something when your cm/m values are always changing?

Exactly, one of the most important aspects of money is that it is a stable store of value. Highly volatile assets fail this crucial test.

first bitcoin made is for an investment or asset but as time goes by bitcoin is not just an asset many people are using bitcoin, very fast adoption and now many stores that accept bitcoin as a payment option

does not rule out the possibility that, bitcoin prices in the future will be stable

nerFohanzo

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Quote from: btcprospecter on January 10, 2016, 09:33:39 PM

It would be good if it did replace fiat but more than likely won't happen best we can hope for is it to compete against fiat and as it does more and more people will use it for every day purchases

That's what we want that bitcoin should be used on daily basis for our basic things then only we can say that bitcoin has hit the mainstream, if it is only used for online purchases or online transfer then that is of no use as in my country when it comes to online transfers or online purchases people prefers banks and credit cards.

ObscureBean

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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 Wink

btcprospecter

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It would be good if it did replace fiat but more than likely won't happen best we can hope for is it to compete against fiat and as it does more and more people will use it for every day purchases

yohanip

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I feel that i might have contradict my self, everyone said that the 6 confirmation time will become lesser and lesser within the following month, and if it is, will it be within my time, or will it comes 100 years later?
so i am affraid if i have to say this, this statement is true bitcoin cannot replace fiat.

jaysabi

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Quote from: richardsNY on January 10, 2016, 06:40:02 PM

Quote from: wikenpp on January 10, 2016, 06:28:35 PM

Yeah there is no fiat replacement. We need it for value but also for daily usage.
The transaction you make when going to a grocery can be done online, all those transactions, just can't

Fiat and Bitcoin payments can both be done via an internet connection. You just need to have a smartphone that is having an NFC chip. If the store have the hardware for it, then you can just hold your phone above that box, and you have paid. It's that easy.

But only fiat can be done without an internet connection, I think is what he was getting at.

richardsNY

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Quote from: wikenpp on January 10, 2016, 06:28:35 PM

Yeah there is no fiat replacement. We need it for value but also for daily usage.
The transaction you make when going to a grocery can be done online, all those transactions, just can't

Fiat and Bitcoin payments can both be done via an internet connection. You just need to have a smartphone that is having an NFC chip. If the store have the hardware for it, then you can just hold your phone above that box, and you have paid. It's that easy.

wikenpp

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Yeah there is no fiat replacement. We need it for value but also for daily usage.
The transaction you make when going to a grocery can be done online, all those transactions, just can't

ridery99

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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.

Can someone please ban this scammer? This is just fud price is already low stop fudding.

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