Bitcoin can not replace fiat - page 135.

expert4knowledge

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Quote from: studas on January 06, 2016, 02:44:49 PM

Quote from: wikenpp on January 06, 2016, 02:29:50 PM

Fiat is here to stay and so is bitcoin.
It makes no sense that fiat will dissapear, since many market depend 100% on fiat.

Most governments will still use fiat as that is easier to manipulate and print. Bitcoin will also be there coexisting.

Yes, it may be something like Gold in someday but I do not think it becomes like fiat at all.

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Quote from: wikenpp on January 06, 2016, 02:29:50 PM

Fiat is here to stay and so is bitcoin.
It makes no sense that fiat will dissapear, since many market depend 100% on fiat.

Most governments will still use fiat as that is easier to manipulate and print. Bitcoin will also be there coexisting.

wikenpp

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Fiat is here to stay and so is bitcoin.
It makes no sense that fiat will dissapear, since many market depend 100% on fiat.

Supercrypt

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Quote from: avw1982 on January 06, 2016, 12:03:37 AM

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?

I will say bitcoin will replace the fiat for sure and very soon. because we can able to see the more adaption in nowadays. and due to halving price gonna double in the market price of bitcoin. So better try to save the bitcoin and work for future.

In my opinion bitcoin has already replaced the fiats in the format of bitcoin debit cards. With bitcoin debit cards we can spend bitcoin any where we were using our fiats. So, in near future, bitcoin will dominate fiats in all possible ways like in physical format also.

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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?

I will say bitcoin will replace the fiat for sure and very soon. because we can able to see the more adaption in nowadays. and due to halving price gonna double in the market price of bitcoin. So better try to save the bitcoin and work for future.

2legit2

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it can and it will replace it for sure in my opinion

newcoins1978

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Quote from: BowYang on January 05, 2016, 04:16:43 PM

I also think that, because people calculate the value based on fiat. So you need it.

Yeah without fiat how can we determine the value of bitcoin if we can't measure it.
Fiat don't needs bitcoin, but bitcoin needs fiat.

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Quote from: expert4knowledge on January 05, 2016, 02:04:04 PM

Quote from: Epicnicity on January 03, 2016, 11:06:35 AM

I think bitcoin can be used as an alternative payment option besides fiat.
Bitcon is never able to replace fiat unless you do so yourself.

It cannot be used for many reasons. With current situation if we say bitcoin can be replaced with fiat cannot be supported because it does not have any of characteristics of fiat.

Epicnicity say right that bitcoin cannot replace fiat because fiat is the basement of money/currency.
But it can be user as an alternative way to buy/sell/trade things and as time is moving fast bitcoin will be much more popular.

BowYang

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I also think that, because people calculate the value based on fiat. So you need it.

expert4knowledge

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Quote from: Epicnicity on January 03, 2016, 11:06:35 AM

I think bitcoin can be used as an alternative payment option besides fiat.
Bitcon is never able to replace fiat unless you do so yourself.

It cannot be used for many reasons. With current situation if we say bitcoin can be replaced with fiat cannot be supported because it does not have any of characteristics of fiat.

Epicnicity

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I think bitcoin can be used as an alternative payment option besides fiat.
Bitcon is never able to replace fiat unless you do so yourself.

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Quote from: Arcteryx on January 01, 2016, 10:45:55 PM

It honestly won't happen this year or the next. For that to happen:
Every country would have to be on board and agree to how much they can each have.
Just look how well that ended up in Europe when the Euro was introduced in 2002 Roll Eyes

Greece screwed that up for everyone of those countries for a long time to come.

If it will happen at all, we will not see it in the next 5 years. I believe is too important in global finance.
No country/ economy is ready for this to be happen.

bearex

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Yeah, i also think it is kind of dependent on fiat currency, just so it gets its value.

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Quote from: randy8777 on January 01, 2016, 09:06:03 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?

the volatility doesn't really matter when you use bitcoin as currency. it can still be used as currency even when it goes down like 50% in let's say a week time. i can buy some coins right now to buy stuff with bitcoin if the coins that i hold aren't meant for spending or dropped significantly in value.

That's true but bitcoins will always be dependent on fiat for sure, as it cannot replace fiat, and at present there are very few shops that accepts bitcoin as a mode of payment, so people use fiat more when it comes to shopping or buying other stuffs, so I don't think that bitcoins can ever replace fiat.

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It honestly won't happen this year or the next. For that to happen:
Every country would have to be on board and agree to how much they can each have.
Just look how well that ended up in Europe when the Euro was introduced in 2002 Roll Eyes

Greece screwed that up for everyone of those countries for a long time to come.

randy8777

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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?

the volatility doesn't really matter when you use bitcoin as currency. it can still be used as currency even when it goes down like 50% in let's say a week time. i can buy some coins right now to buy stuff with bitcoin if the coins that i hold aren't meant for spending or dropped significantly in value.

Decoded

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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?

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Quote from: greBit on January 01, 2016, 08:51:26 AM

Quote from: HarHarHar9965 on January 01, 2016, 08:22:49 AM

Quote from: 1Referee on January 01, 2016, 07:44:04 AM

Quote from: NETFix on December 31, 2015, 11:08:50 AM

I think BTC can replace fiat sometime in the future, with how technology develops it's pretty possible to see BTC at such a level sometime later.

Stop with dreaming. Bitcoin is an alternative, how hard is this to understand? Fiat currencies will remain as main currency in the world. Bitcoin can't change that.

Possiblities there dude. If you take some long years the world belongs to Barter system Only After that Some of Asian, Greek and Roman Kings started Coin and currency system. As like bitcoin also possible in future Digital world. Adaption and many users day by day in Bitcoin forum is example for that.

You nailed it and there are more chances of Bitcoin replacing fiat currencies in not a long distant future because nothing is impossible and by looking at the pace at which Bitcoin is growing and getting more popular day by day I am sure soon we will see Bitcoin as a payment option in most of the stores.

I'm also inclined to believe it could be a real possibility, even though it sounds pretty insane at the moment to some people.
But there are still some major obstacles, think of the current confirmation times, they're pretty bad at some times.

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Quote from: HarHarHar9965 on January 01, 2016, 08:22:49 AM

Quote from: 1Referee on January 01, 2016, 07:44:04 AM

Quote from: NETFix on December 31, 2015, 11:08:50 AM

I think BTC can replace fiat sometime in the future, with how technology develops it's pretty possible to see BTC at such a level sometime later.

Stop with dreaming. Bitcoin is an alternative, how hard is this to understand? Fiat currencies will remain as main currency in the world. Bitcoin can't change that.

Possiblities there dude. If you take some long years the world belongs to Barter system Only After that Some of Asian, Greek and Roman Kings started Coin and currency system. As like bitcoin also possible in future Digital world. Adaption and many users day by day in Bitcoin forum is example for that.

You nailed it and there are more chances of Bitcoin replacing fiat currencies in not a long distant future because nothing is impossible and by looking at the pace at which Bitcoin is growing and getting more popular day by day I am sure soon we will see Bitcoin as a payment option in most of the stores.

HarHarHar9965

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Quote from: 1Referee on January 01, 2016, 07:44:04 AM

Quote from: NETFix on December 31, 2015, 11:08:50 AM

I think BTC can replace fiat sometime in the future, with how technology develops it's pretty possible to see BTC at such a level sometime later.

Stop with dreaming. Bitcoin is an alternative, how hard is this to understand? Fiat currencies will remain as main currency in the world. Bitcoin can't change that.

Possiblities there dude. If you take some long years the world belongs to Barter system Only After that Some of Asian, Greek and Roman Kings started Coin and currency system. As like bitcoin also possible in future Digital world. Adaption and many users day by day in Bitcoin forum is example for that.

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