Bitcoin can not replace fiat - page 22.

Tuyul Gupies

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Quote from: Sweeet123 on December 07, 2017, 01:09:30 PM

The amount of people trading in bitcoins are very limited vs the people who use fiat, there are so many banks, a whole economy that is dependent on fiat, so I do not see bitcoin replacing fiat any time soon, true that the demand for bitcoin is increasing , but people still trust the age old fiat ,since for most of the people around the globe bitcoin remains to be esoteric

yes it is true that bitcoin is a partner of fiat currency, they are always in line, because we know that bitcoin can not be used by all levels of society, what else because the price is not fixed then it will confuse the small community, so I think need time to replace it

bit1

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Quote from: dameh2100 on December 10, 2017, 08:00:09 PM

It will never replace fiat, why? First of all, Bitcoin is not designed for replacement fiat. It designed for fast transaction, and to secure our money. . However, fiat can modified but replacing bitcoin will not be effective.

I also do not think it's convenient for anyone to replace fiat with anything, there are many daily transactions that are much easier and convenient to make through the fiat,besides that because of the high volatility in the prices it is not possible to determine an immovable price for many of the goods or services that are provided and that these need to preserve their value and so only the fiat can handle in a more effective way.

dameh2100

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It will never replace fiat, why? First of all, Bitcoin is not designed for replacement fiat. It designed for fast transaction, and to secure our money. . However, fiat can modified but replacing bitcoin will not be effective.

Menuotares

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And one of factors causing bitcoin can't replace fiat is length of confirmation process of transaction. In fact, when the miners busy processing sometimes there is a buildup that takes days like some time ago. Thus, bitcoin only remain as alternative for financial transactions.

bestbiz9

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Yes indeed bitcoin will not replace the money that is already very old. If bitcoin want to replace the money it is very difficult and needs to be changed. Bitcoin prices are not suitable to be used as currency for bitcoin often fluctuated and it was not suitable to be money because if you want to replace the bitcoin money must have a stable price. Bitcoin will be complicated if used for direct transactions because it takes time, bitcoin should have a form of value to be used in their daily lives

Dainye_dyep

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Quote from: USB-S on December 23, 2015, 09:57:47 AM

However if one already owns bitcoins, this problem that you have becomes non-existent.

True , and it was stated for most of the people here that a cashless society may not contribute a lot to the community especially for those people still dont accept bitcoin as way of payment.

ASICHEAD

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Quote from: tbterryboy on December 08, 2017, 06:30:18 AM

Quote from: vinz7229 on December 05, 2017, 09:56:02 AM

Quote from: ~Bitcoin~ on December 23, 2015, 10:53:00 AM

Bitcoin is asset just like gold and silver and fiat is the one that evaluate the value of every asset. So bitcoin can never replace fiat but it can dominate the online payment processors with low fee.

Yes that's the fact, Bitcoin can never replace Fiat currency for some many reasons.
1. Fiat currency is more accessible to use specially to our older people
2. Fiat is monitored and controlled by our government
3. You can use it without using any internet connection
So I guess Bitcoin can never replace Fiat currency.

Some people are funny, I saw one post where people were supporting Bitcoin should replace Fiat and one guy was in support of that, now here I am and I saw the same guy supporting Fiat again. Funny lol. By the way, Fiat can never be replaced by Bitcoin, because Bitcoin is not a real currency. Oh, and not you I’m talking, I’m talking about a different guy.

Bitcoin is crypto currency and it is being the asset than a normal currency for payment. Do you think others want to take high risk to use a currency have strong fluctuation every day? For me, I just want to fixed my funds, so I am still using FIAT.

Isaacck1

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I think bitcoin replacing fiat is still nearly impossible. In my opinion we can use bitcoin in various helpful things like buying, selling, trading and etc. but still, it can not replace the fiat's job. We still need physical money for buying a drink, or paying our fare, or even giving our tips. We love bitcoin and we understand the true potential but we still need to adjust in the society where so many people does not recognize bitcoin.

Janation

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Quote from: btcminer6212 on December 07, 2017, 03:55:04 PM

Quote from: Sweeet123 on December 07, 2017, 01:09:30 PM

The amount of people trading in bitcoins are very limited vs the people who use fiat, there are so many banks, a whole economy that is dependent on fiat, so I do not see bitcoin replacing fiat any time soon, true that the demand for bitcoin is increasing , but people still trust the age old fiat ,since for most of the people around the globe bitcoin remains to be esoteric

at the movement it is not possible that bitcoin is not is in the position to replace fiat may be in the future.If we speaking about present time u are totally right. But future is coming, and who had cell phone, computer 30 years ago? Look what kind of phones we had 10 years ago, and look what we have now? Digital era is comming and bitcoin will find better place in that then fiat. When will that come, who knows, we can just make some speculations. What will happen with btc when people start to recive salaries in btc? When I think about it its possible that alt coins will replace fiat one day.i takes or need too much of time for this.

If you don't know, we are in the Information Age, also know as the Digital Age, obviously, it is not coming, it is here a long time ago, to be exact that will be 50 years ago. Bitcoin might be a good currency but I think it is more risky to use a digital currency which is so volatile to replace a well and stable fiat. Fiat is also controlled by the government that depicts the country's economy, if government will not be able to control the money and cannot collect taxes, which is described as the blood of a country, you can imagine what will happen to the country and it's people, it will be a disaster.

tbterryboy

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Quote from: vinz7229 on December 05, 2017, 09:56:02 AM

Quote from: ~Bitcoin~ on December 23, 2015, 10:53:00 AM

Bitcoin is asset just like gold and silver and fiat is the one that evaluate the value of every asset. So bitcoin can never replace fiat but it can dominate the online payment processors with low fee.

Yes that's the fact, Bitcoin can never replace Fiat currency for some many reasons.
1. Fiat currency is more accessible to use specially to our older people
2. Fiat is monitored and controlled by our government
3. You can use it without using any internet connection
So I guess Bitcoin can never replace Fiat currency.

Some people are funny, I saw one post where people were supporting Bitcoin should replace Fiat and one guy was in support of that, now here I am and I saw the same guy supporting Fiat again. Funny lol. By the way, Fiat can never be replaced by Bitcoin, because Bitcoin is not a real currency. Oh, and not you I’m talking, I’m talking about a different guy.

btcminer6212

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Quote from: Sweeet123 on December 07, 2017, 01:09:30 PM

The amount of people trading in bitcoins are very limited vs the people who use fiat, there are so many banks, a whole economy that is dependent on fiat, so I do not see bitcoin replacing fiat any time soon, true that the demand for bitcoin is increasing , but people still trust the age old fiat ,since for most of the people around the globe bitcoin remains to be esoteric

at the movement it is not possible that bitcoin is not is in the position to replace fiat may be in the future.If we speaking about present time u are totally right. But future is coming, and who had cell phone, computer 30 years ago? Look what kind of phones we had 10 years ago, and look what we have now? Digital era is comming and bitcoin will find better place in that then fiat. When will that come, who knows, we can just make some speculations. What will happen with btc when people start to recive salaries in btc? When I think about it its possible that alt coins will replace fiat one day.i takes or need too much of time for this.

mininglegend1234

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Quote from: Sweeet123 on December 07, 2017, 01:09:30 PM

The amount of people trading in bitcoins are very limited vs the people who use fiat, there are so many banks, a whole economy that is dependent on fiat, so I do not see bitcoin replacing fiat any time soon, true that the demand for bitcoin is increasing , but people still trust the age old fiat ,since for most of the people around the globe bitcoin remains to be esoteric

Bitcoin doesn't necessary aim at replacing fiat.because bitcoin is tottaly different from fiat., as long as we can absorb a lot of fiat and a lot of gold and a lot of money spread all over a variety of stupid assets that aren't worth it, we will become one of the strongest commodities ever challenging gold for first spot. Once governments kick in with their plants to ban cash and negative interest rates we will all be rich .and we also need to know that fiat is a currency which is used by people in high percentage on other side people who are using bitcoin are in very less amount.

migolmigol

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Yes. Bitcoin may be a lot different compared to the fiat currency. But still, fiat currency is very effective in terms of governing and controlling the economy. Not controlling in bad way, but in a good way. Because if we all have the same currency in digital form. Then the value would be very volatile because it is affected by all the demand and supply of the countries of the world. Also to add to that, we can not based the value of the country in terms of gross domestic product with only one currency.

hASHmETAL

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Interesting notes:

https://bitcointalksearch.org/topic/m.25929160

hASHmETAL

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The perfectly designed Game is on by Regulators and Governments to fully blow up BITCOIN, Cboe futures listing is indication!! ??

My experience on crypto says money will flows only to who has lot of money already !! Sad for poor developers and miners!! may they have better money from past !! ultimate game is playing by fiat institutions and bitcoin futures is in there hand not in dev team or miners !! I'll throw up challenge to prove by dev team and miners team as wrong by reducing transaction fee to under $10/per transactions from current ~$94/transaction to include marginal bitcoin with small amount yet to make larger base. Otherwise let them accept bitcoin is not for common people and they are working as modern slavery for fiat institutions and/ or corrupt governments. Caution:: Current Bitcoin holders will be robbed or taken for ransome by rigged system in future for holding it!! either you have loose it or share your fortune with rough system it's the future (about to launch) of bitcoin I'm assessing!

Sweeet123

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The amount of people trading in bitcoins are very limited vs the people who use fiat, there are so many banks, a whole economy that is dependent on fiat, so I do not see bitcoin replacing fiat any time soon, true that the demand for bitcoin is increasing , but people still trust the age old fiat ,since for most of the people around the globe bitcoin remains to be esoteric

geegaw

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Quote from: webdevmastery on December 05, 2017, 05:00:05 PM

I also believe that bitcoins cannot replace fiat because not everyone is capable of earning bitcoins. Only those family in the middle class has the capability of earning bitcoins because they budget to build a computer or mobile phone to access this forum and the internet.

Exactly is Bitcoin is still not called popular with everyone in the world, the number of people who know and understand bitcoin is still very low, it still does not bring faith to everyone in the world, it is still too risky and unstable, people can not use it as fiat. In addition, it is not under the control and management of government, the government still does not accept it, the government will not allow it to replace fiat, accept it will make social chaos and increasing illegal activities, the government never wanted that to happen

Natsuu

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★Bitvest.io★ Play Plinko or Invest!

Quote from: suzanne5223 on December 05, 2017, 03:44:57 PM

Quote from: ?? on ??

There's no chance to replace fiat money with bitcoins. The reason is everyone use fiat money most of banks accept money instead bitcoins.And on the top we need money in order to buy bitcoins so how we can replace it with money.If money disappear how ill you able to buy coins ?

Currently, yes there is no chance for bitcoin to replace fiat money but sooner or later bitcoin will replace fiat and this is what said will happen in Greece in acouple of years to come.

Note : the world is changing to electronic cash

I failed to see why fiat will be replaced for example what if theres a problem with the internet with youre country how can you use btc? Or btc is down for what ever reason you cant acces to your wallet/account what now? Even in the future if btc become more valuable than fiat fiat is still more useful/accessible to use.

Osarman

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Quote from: vinz7229 on December 05, 2017, 09:56:02 AM

Quote from: ~Bitcoin~ on December 23, 2015, 10:53:00 AM

Bitcoin is asset just like gold and silver and fiat is the one that evaluate the value of every asset. So bitcoin can never replace fiat but it can dominate the online payment processors with low fee.

Yes that's the fact, Bitcoin can never replace Fiat currency for some many reasons.
1. Fiat currency is more accessible to use specially to our older people
2. Fiat is monitored and controlled by our government
3. You can use it without using any internet connection
So I guess Bitcoin can never replace Fiat currency.

Yes that’s true. I usually consider some people in our various communities before saying anything. There are some people who are very stupid and will be happy if Bitcoin will be used to replace fiat (well, only in their dreams) fiat is very important to us, everyone, they young and the old, the poor and rich.

Take for example, if Bitcoin is used to replace fiat, how would tip that poor blind guy or beggar on the street? How would you tip that your favorite waiter? Please, let’s think reasonably sometimes.

cexylikepie

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Quote from: suzanne5223 on December 05, 2017, 03:44:57 PM

Quote from: ?? on ??

There's no chance to replace fiat money with bitcoins. The reason is everyone use fiat money most of banks accept money instead bitcoins.And on the top we need money in order to buy bitcoins so how we can replace it with money.If money disappear how ill you able to buy coins ?

Currently, yes there is no chance for bitcoin to replace fiat money but sooner or later bitcoin will replace fiat and this is what said will happen in Greece in acouple of years to come.

Note : the world is changing to electronic cash

Electronic cash Huh

What is that? I just know digital cash, crypto currency and FIAT Roll Eyes

. As far as I know, except Japan, almost countries used and will use Bitcoin as a stock, an asset for exchange and investment. The government are calling this currency is a speculative asset. It has high risk, so, it should not become a primary currency.

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