Bitcoin can not replace fiat - page 24.

dancingnancy

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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.

Bitcoin is a small source of money when compared to fiat which is widely used and popular amongst everyone. fiat can also be used in remote areas whereas bitcoin can only be used in urban areas where there is access to to technology nevertheless bitcoin is good for earning money and making profits effectively even if it's not accessible everywhere.

Bitcoinislife09

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Bitcoin definitely cannot replace fiat. There will be a lot of processes and you won't be sure if all the countries would want to implement this type of currency. Fiat currencies are the foundation of every country and consider those who are poor; they cannot even access the internet. It is impossible to happen that bitcoin will replace fiat currencies. Also, it will lose its value without fiat because fiat is the reason why we know bitcoin went up or down.

rommil

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Probably it won't do that. Or maybe it will be some other cryptocurrency, ETH for example

Naoko

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Fiat can't be replaced with bitcoin. Even in developed countries, such as the US, people don't always use digital transactions, and fiat is still used.

Apple Mac

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Quote from: USB-S on December 23, 2015, 10:57:47 AM

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

Well you have a point, but for me thats true bitcoin cannot replace diat due to the fact that fiat has been each country's identity , we are not capable to proceed to more challenging fact that only the government can utilize this.

Chrystora123

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Quote from: ~Bitcoin~ on December 23, 2015, 11:53:00 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.

true, Bitcoin will not replace Fiat, Bitcoin is just as Asset or commodity, we are looking for Bitcoin then sell it in Exchanger,
so Fiat's position will not be replaced by Bitcoin ...

jhony525525

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As bitcoin is important for us then it can be said that it will fast the payment system in the world which will be convenient for the busy peoples. As fiat money is also playing it’s role in the world it is good for all societies like the people from backward areas can’t able to use digital currency then they are using this fiat money to fulfill their needs.

000JC88

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Bitcoin can not live without fiat because is not a real asset. Its price is going up in fiat currency because the cost to run it is more. If there is no fiat currency by it's own can't pay it's own bills.

explosion

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Cryptocurrency and bitcoin will not replace fiat money until we calculate their value in dollars... The majority of crypto-oriented users trade and mine bitcoin with the aim to convert it into dollars and become rich. Only the very few use it for transactions we use fiat money

katarin2030

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Quote from: galestorm on November 24, 2017, 10:37:20 PM

I agree, bitcoin can never replace fiat money.. and for a number of reasons. First is that fiat money is generally accepted and it can be easily obtained through hard work and perseverance.. it is also a tangible asset which is really helpful to those who cant afford gadgets that contain digital wallets. In order to obtain bitcoins, one must be knowledgable enough in handling such things and judging from the whole population there are some who cant even gain access on the internet.

Each country has it's own fiat currency that is approved and issued by the governments, so no question of replacing it by bitcoin.Bitcoin is used by only small group of people when compared to fiat currency.

cheann20

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Bitcoin should exist as a way of maintaining value over time once it is properly stabilized, and as a means of transferring large amounts of value, or even transferring value overall. I think we can all agree that future of money is some kind of electronic currency. Bitcoin has brought something new in world of currencies.

galestorm

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I agree, bitcoin can never replace fiat money.. and for a number of reasons. First is that fiat money is generally accepted and it can be easily obtained through hard work and perseverance.. it is also a tangible asset which is really helpful to those who cant afford gadgets that contain digital wallets. In order to obtain bitcoins, one must be knowledgable enough in handling such things and judging from the whole population there are some who cant even gain access on the internet.

kodtycoon

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Yes of course bitcoin can not replace fiat money, because bitcoin is just a very valuable asset on the internet just as gold is very valuable in real life. Although many think if bitcoin will replace fiat money. but remember, as long as there is fiat money, we can convert bitcoin to fiat money and we will earn a lot of fiat money from bitcoin sales. Because bitcoin prices are very high.

yulionoo

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bitcoin cant replace regular money. and regular money cant replace bitcoin.
we always need fiat money. bitcoin is asset, property on internet that have high value. you can exchange your bitcoin to regular money, with a lot of money, but when you exchange regular money to bitcoin you will get amount of how much you have it

katiecbell

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Quote from: taktik on November 17, 2017, 03:13:09 PM

Quote from: EdenHazard on November 17, 2017, 02:56:57 AM

Quote from: Clairvoyance on November 16, 2017, 11:53:45 AM

As of the moment fiat is the main factor on how markets operate. As soon as the economy adopts digital currency as its main form of payment then fiat will be a thing in the past.

exactly , an outdated currency. the future of currency it is no doubt bitcoin with its advanced technology , allows people to access their own money without have to rely on the third party provider , really a form of freedom !

people just not yet ready adopt bitcoin because still less support from government , but it is worth to wait.

there is no support from the government, because they have not yet come up with a process through which it will be possible to control the incomes of citizens in the crypto currency. One can only imagine what kind of money the state budgets of all countries avoid.

No every government is not same some of governments are seriously thinking to accept bitcoin because they know that btc will change their days and so far I have seen that bitcoin has ability to boost economy and one can see the economic condition of those countries who accepted bitcoin and on top of it the most important thing it will surely replace flat because it has both mode it increments in money to give profit.

craZyLovE0916

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Quote from: Soots on November 23, 2017, 04:52:01 PM

Quote from: Harriti on November 23, 2017, 04:24:42 PM

Quote from: cluit on November 21, 2017, 08:26:37 AM

Quote from: nikitano on November 12, 2017, 08:33:24 AM

Can any person teach me what is fiat?Is fiat also cryptocurrency?A lot of instances someone in this forum is speaking about fiat and I every single time seem wtf what is that?I always feel that they think about fiat auto but I now see that they dont.

I think when more people, institutions, organizations and companies will be accepting bitcoins then there will be no need of fiat and people will discard it automatically. In short bitcoin can replace fiat in future but it will take some time around 30-40 years ahead to reach to that limit. Time it will take but surely we will be seeing a cashless society in future. Hope for the best for bitcoins.

That's right, everything depends on the user, the government are just the people help smooth the popularity of FIAT or something, but they can't stop the demand of all people in the world. Someday, if Bitcoin's really becomes the world's currency, we don't need to care Bitcoin can't replace FIAT.

Absolutely yes, bitcoin can't replace fiat throughout the country. Each country has its own fiat money which is very important for paying transactions like on some ordinary stores. I would say bitcoin will be used only on highly developed countries or places with fully developed internet connections and to those placed didn't developed internet may used fiats money as an alternate paying transactions.

Bitcoin is already replacing FIAT and it is clear the consequences that are happening for FIAT because of this now. BTC is becoming worth more and more because less and less people are believing in the current financial system that uses FIAT money to control the masses by squashing any sort of economic competition by inflating the value of the economy even more.

Soots

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Quote from: Harriti on November 23, 2017, 04:24:42 PM

Quote from: cluit on November 21, 2017, 08:26:37 AM

Quote from: nikitano on November 12, 2017, 08:33:24 AM

Can any person teach me what is fiat?Is fiat also cryptocurrency?A lot of instances someone in this forum is speaking about fiat and I every single time seem wtf what is that?I always feel that they think about fiat auto but I now see that they dont.

I think when more people, institutions, organizations and companies will be accepting bitcoins then there will be no need of fiat and people will discard it automatically. In short bitcoin can replace fiat in future but it will take some time around 30-40 years ahead to reach to that limit. Time it will take but surely we will be seeing a cashless society in future. Hope for the best for bitcoins.

That's right, everything depends on the user, the government are just the people help smooth the popularity of FIAT or something, but they can't stop the demand of all people in the world. Someday, if Bitcoin's really becomes the world's currency, we don't need to care Bitcoin can't replace FIAT.

Absolutely yes, bitcoin can't replace fiat throughout the country. Each country has its own fiat money which is very important for paying transactions like on some ordinary stores. I would say bitcoin will be used only on highly developed countries or places with fully developed internet connections and to those placed didn't developed internet may used fiats money as an alternate paying transactions.

Harriti

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Quote from: cluit on November 21, 2017, 08:26:37 AM

Quote from: nikitano on November 12, 2017, 08:33:24 AM

Can any person teach me what is fiat?Is fiat also cryptocurrency?A lot of instances someone in this forum is speaking about fiat and I every single time seem wtf what is that?I always feel that they think about fiat auto but I now see that they dont.

I think when more people, institutions, organizations and companies will be accepting bitcoins then there will be no need of fiat and people will discard it automatically. In short bitcoin can replace fiat in future but it will take some time around 30-40 years ahead to reach to that limit. Time it will take but surely we will be seeing a cashless society in future. Hope for the best for bitcoins.

That's right, everything depends on the user, the government are just the people help smooth the popularity of FIAT or something, but they can't stop the demand of all people in the world. Someday, if Bitcoin's really becomes the world's currency, we don't need to care Bitcoin can't replace FIAT.

cluit

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Quote from: nikitano on November 12, 2017, 08:33:24 AM

Can any person teach me what is fiat?Is fiat also cryptocurrency?A lot of instances someone in this forum is speaking about fiat and I every single time seem wtf what is that?I always feel that they think about fiat auto but I now see that they dont.

I think when more people, institutions, organizations and companies will be accepting bitcoins then there will be no need of fiat and people will discard it automatically. In short bitcoin can replace fiat in future but it will take some time around 30-40 years ahead to reach to that limit. Time it will take but surely we will be seeing a cashless society in future. Hope for the best for bitcoins.

szpalata

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Quote from: Triple on November 20, 2017, 02:05:53 PM

Quote from: Byatt on November 20, 2017, 02:01:51 PM

Fiat is very powerful, it can never be replaced because it is used already as our payment to the things and others all over the world. We need fiat for the conversion of bitcoin into real money to buy goods and whatsoever although it will help increase the value of your asset because of the exponential growth of bitcoin but it is not powerful enough to replace fiat.

At Bitcoin's current stage, no it cannot replace fiat. But I'm sure something will come along with better integration or services and it might be a thread later on. Who knows. All I know right now is that prices continue to set record highs so that has to mean something

It shouldn't even be entertained to replace fiat because we can derive benefits from both if they are allowed to coexist and complement each others effort. I think we can use them as and when they become necessary and befitting for a transaction.

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