Bitcoin can not replace fiat - page 15.

ynatopak14

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Quote from: Ethalir on December 23, 2015, 09:59:33 AM

Of course can't fiat money replace bitcoin, because we still use fiat money at the end look how much banks they are in the world they won't just change to go to bitcoin. Bitcoin is just good when you trading or other stuff. Also we need fiat for bitcoin price.

Why do we need to insist that bitcoin or anything can replace FIAT? why can't we stand still and let things happen?
we are okay with this and we are fin on whats going on, let FIAT be FIAT and let BITCOIN and CRYPTOCURRENCY be it!

MainIbem

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This is my view too. Bitcoin cannot replace fiat. Bitcoin aids seamless transfers and nothing else. I have not seen the way it will replace fiat. All items in the market are priced in fiat. Bitcoin is virtual. Bitcoin is 100% electronic. So how will it replace fiat?

expless

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Quote from: Gandam23 on January 10, 2018, 07:13:57 AM

Quote from: Parazyd on December 23, 2015, 09:54:15 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.

Yes ofcourse. Because although bitcoin has many advantages to use there is also disadvantages to be consider. But it is really possible to happen maybe not this time. Maybe the managers and other organization that will innovate bitcoin.

The only thing which I know is that you can expect anything to happen in this world and that there is nothing which is not possible. Bitcoin is having a strong potential of replacing fiat and that if it happens, this will work in the best of all of us. The only issue which bitcoin is facing is that of legalization. Till the time that issue will not be resolved, it is little difficult for bitcoin to lead the world.

Kanda Yu

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Quote from: Parazyd on December 23, 2015, 09:54:15 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.

Bitcoin has grown a lot over the past few years and it carried its reputation up until now. Although bitcoin is said to replace the fiat and will become the world currency, the assurance is still not that big yet. We should still take consideration that fiat still is the most used curreny in the world. Bitcoin is being converted into fiat and I think it would go on like that for a long time still.

Bessta

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i think btc cannot replace fiat money yet but who knows when? At the rate it is going, it is possible as the btc is getting stronger and becoming acceptable to more people as days pass by.

boyshx

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Still in 2018 fiat currency is the most popular currency of the world. Even after many digital and economic revolutions every country is having its own fiat currency. Fiat currency is the most easy, suitable, easily transferable/ convertible currency in currency market. Its settlement time and settlement charges are almost nothing. Can be used by anyone who is holding it, requires no special gazettes, internet etc. Fiat currencies are secured by governments or by central bank of that country. So, even after having some unique features, bitcoin cannot replace fiat currency forever.

vinz7229

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Quote from: bib24 on January 13, 2018, 04:30:33 PM

For now yes, fiat money still dominates the market, but we don't know what the future holds. One thing is certain, bitcoin is getting stronger as time pass by.

I think even though years pass by, Fiat currency would still in a steady position and no one could replace it just like Bitcoin, unless Bitcoin gets a support from the government, in that case they can control the people that are using Bitcoin, and I guess if that happens it will be a big help for the economy of each country.

francis2

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Quote from: bigvito19 on January 10, 2018, 08:45:49 AM

and bitcoin won't replace fiat

The good news is bitcoin does not need to do that the only thing it needs to do is to offer us an alternative to the fiat system that is nothing but a fraud, as long as bitcoin does that I will be happy with what bitcoin has achieved through its life.

bib24

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For now yes, fiat money still dominates the market, but we don't know what the future holds. One thing is certain, bitcoin is getting stronger as time pass by.

Creepings

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Quote from: justteam34 on January 13, 2018, 05:47:24 AM

I think this crypto currency will still not be able to replace the long established ordinary currencies, so in my opinion, it can not replace!

It will not replace fiat since these digital currencies especially bitcoin is not that stable and also, it is volatile, how will the government handle a currency that might take down the economy of their country? I think this is the reason why some of the country elected leaders are banning bitcoin in their country to protect their economy as well as their people in the threat of bitcoin and other digital currencies.

justteam34

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I think this crypto currency will still not be able to replace the long established ordinary currencies, so in my opinion, it can not replace!

guoyu78

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Quote from: goldcoinminer on January 07, 2018, 03:20:34 AM

Quote from: ssuchy on January 06, 2018, 03:28:31 PM

Quote from: PrinceCaspian on January 06, 2018, 01:45:48 PM

Quote from: bib24 on January 06, 2018, 01:38:23 PM

At present condition, fiat money cannot be replaced by bitcoin because it is internationally acclaim currency that can be used by anyone, anytime, anywhere in all transactions. However with the popularity of bitcoin these days, who know what the future may hold. Let’s just wait and see. It is wise if you have both.

We are still in the early age so we don't have that kind of exposure for the government to decide if they are going to replace the fiat with the cryptocurrencies like bitcoin or not because if that is possible then fiat will be just worthless because of the inflation but it is not yet happening because we still need fiat more than cryptos.

of course feat can say a lot and the fact that it can be eaten by inflation is also very bad, but you look at the pricing of Bitcoin And you will understand that there is a very big difference who will be trusted by people more. The price of Bitcoin has never been stable and it will frighten every member of society. Therefore, it is the most favorable for them on Fiat with the retention of money.

Why not enjoy the achievement of bitcoin and just let fiat stay.
There is no need to replace anything as we know bitcoin has limitation and it's very risky as some people are holding it because they consider
it as an investment, for normal users it might not be useful to them, so we can be limited with the number of users.

In my opinion, it is very much possible for not only bitcoin but all other crypto coins which are there in the present world to replace paper money.

Till the time, all the crypto currencies will not be recognized as legal currencies, things will be in very much favor of paper money but if this happens, then things will be greatly changed and there will remain only little usage of paper money.

bigvito19

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and bitcoin won't replace fiat

Loveydovey04

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Quote from: Parazyd on December 23, 2015, 09:54:15 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.

Definitely not but dont forget its been heard that mc donald’s somewhere is accepting bitcoin as payment. But more than that daily cash flow in our lives cannot be replaced by bitcoin like buying small things in retail stores, transportation fees everyday, tip given to waiters and a lot of small things everyday.

Gandam23

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Quote from: Parazyd on December 23, 2015, 09:54:15 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.

Yes ofcourse. Because although bitcoin has many advantages to use there is also disadvantages to be consider. But it is really possible to happen maybe not this time. Maybe the managers and other organization that will innovate bitcoin.

jostorres

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Quote from: haster100 on January 06, 2018, 05:14:18 AM

Bitcoin and fiat are both exisrt out of the same thing and that is dollars fiat has other users than bitcoin because the value of fiat is really high only rich people are using them right now not very pleased to buy fiat.

Dude, are you sure you know what fiat is? Cos judge from the comment you just made, it seems like you don’t even know what fiat is. How can you be saying that it is only the rich people that makes use of fiat, and not the poor ones? Man, everyone makes use of fiat, no matter who you are, whether rich or poor, and fiat is the real currency used by every nation, so it can never be replaced by BTC.

lorigo

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Quote from: Ranly123 on January 07, 2018, 05:38:36 AM

Quote from: Parazyd on December 23, 2015, 09:54:15 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.

It is really safe to say that bitcoin is better than gold and fiat money. We cannot change the fact that bitcoin is phenomenal in the last year but it is up to that and cannot replace how fiat money works in every individual. Bitcoin only sustain the need of some people to earn decent amount of funds but when we go to transacting in stores we need to convert our bitcoins to fiat which in my thought fiat is still superior than bitcoin.

yes, almost every day we still use fiat money in real bright bitcoin transactions as a medium for their luggage as an investment and in the end bitcoin is always exchanged for fiat money.

DrakeDG

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There are always this question of who's superior than other. Bitcoin is good only as a digital currency although its giving us a big amount of profit, it can never replace how we use fiat right now.

Ranly123

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Quote from: Parazyd on December 23, 2015, 09:54:15 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.

It is really safe to say that bitcoin is better than gold and fiat money. We cannot change the fact that bitcoin is phenomenal in the last year but it is up to that and cannot replace how fiat money works in every individual. Bitcoin only sustain the need of some people to earn decent amount of funds but when we go to transacting in stores we need to convert our bitcoins to fiat which in my thought fiat is still superior than bitcoin.

Tukang Becak

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Forever the bitcoin will not replace the fiat, this is because the state protects the fiat fully, what the country is difficult to accept about bitcoin is a matter of control, and bitcoins can not be controlled making it impossible to use officially and replace fiat...

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