Bitcoin can not replace fiat - page 25.

Feuerbach

full member

Activity: 448

Merit: 100

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.

Traditional money is provided with goods and services, unlike bitkoyna. But, nevertheless, bitkoyn can be used as a currency, but it is too early to talk about replacing money with them)

Triple

hero member

Activity: 847

Merit: 500

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

Byatt

member

Activity: 105

Merit: 12

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.

SapphireToken

newbie

Activity: 14

Merit: 0

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.

if Visa could not completely replace fiat, we have an uphill climb to do so. its not something that happens over night... it will be a 25 year long journey. you sound as though you feel that "if people cannot replace it instantly, then don't try to work at it." I think we should continue to work toward that with some type of Cryptocurrency, if not bitcoin, then something else.

PRIMEBOSS

newbie

Activity: 42

Merit: 0

i think that bitcoin is also very important but in the present time fiat currency is also good people if we look at the perspective of education the uneducated even don't know bitcoin then how they will earn bitcoin and further they will use which is impossible for them then at the cities people become updated with technology but the areas sided by cities are not that much developed then the use of bitcoin for them is not possible then i will say that it will not replace fiat currency.

BlueStackz

legendary

Activity: 1204

Merit: 1028

Quote from: zombie6 on November 10, 2017, 07:44:18 AM

I think they do not, they have different nature, a fiat-inflation currency and is aimed at spending it, because it constantly becomes cheaper, and the bit constantly rises in price, it's like gold, so there will not be a full replacement. In general, the concept of "money" will change and in the end, Fiat will sink into the abyss of history! Cool

We never know what is going to happen in the coming days. We can expect anything to happen in the future. As far as replacing of fiat is concerned, it is difficult to say anything right now. Till the time bitcoin will not be declared as legal, there is no possible way that bitcoin will be able to replace fiat. It is a very long marathon and it will for sure take a huge period of time. We just need to wait and watch.

Eternu

sr. member

Activity: 560

Merit: 257

Quote from: gatti on November 19, 2017, 12:35:03 AM

Quote from: jessicawelsh on November 18, 2017, 12:00:02 AM

Yes it's hard to happen the situation that Bitcoin replaces fiats or fiats replace Bitcoin. Becasue each one have their own missions that others can't complete good.

But I don't think like that. I thought bitcoin will replace the entire FIAT system. After couple of years,you will use the bitcoin in the shop itself. That much popularity bitcoin will get.

It could happen that bitcoin replace fiat one day. 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, and it changed some things forever. But will bitcoin replace fiat, or will it become worlds currency... I don't think so. There are a lot of things that needs to be worked out before bitcoin becomes usable world wide. And that is first step toward bitcoin becoming even greater.

Ewinsane

hero member

Activity: 980

Merit: 523

Quote from: ?? on ??

It will just be simply diversions of money when the time comes. Just like the credit cards and debit cards, when it started we are still using fiat money. Those two aren't cryptocurrrency but it also has some relations to uses just like in Bitcoin. When the Bitcoins moves forward in few decades, it might be recognized as the main cryptocurrency but we can still fiat money to pay transactions we made.

It will be an immense need of time in future to run both type of currencies in parallel. When one is going to be ended, it will be stabilized by other and same case with other. Bitcoin will be spreader over the world in upcoming time but that doesn’t mean bitcoin will just vanish fiat currency. No that wouldn’t be happening. World will run only when these two run in a pair.

ricardobs

hero member

Activity: 1204

Merit: 505

Quote from: Gotottack on November 12, 2017, 11:30:18 AM

I cannot swear by the same belief that Bitcoin cannot replace fiat. I think there are good possibilities knowing that governments worldwide find it hard or extremely difficult to put an end or regulate Bitcoin usage. I think their acquiescence to it somehow implies acknowledgement that it has a good potential to grow in the market. Thus, just stand still. We will all figure out later on.

One of my friends was brainwashed into thinking that bitcoin will actually be replacing Fiat, but luckily I managed to help him snap out of the spell. Bitcoin is not taking the place of Fiat, Fiat will always be the main currency. And by the way, Bitcoin doesn’t have the qualities that makes a currency, it has a limited amount, and wouldn’t be enough for everyone in the world. It will in no way ever replace Fiat.

stayeduptolate

hero member

Activity: 980

Merit: 502

Quote from: cryptojaani on November 18, 2017, 12:52:44 PM

Quote from: jessicawelsh on November 18, 2017, 12:00:02 AM

Yes it's hard to happen the situation that Bitcoin replaces fiats or fiats replace Bitcoin. Becasue each one have their own missions that others can't complete good.

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.
Report to moderator

Yes bitcoin cannot replace fiat currency at any cost.Maybe in future it can come to power along with the fiat currency but cannot overtake it.All the people in the world use fiat currency for day to day transactions.Internet accessibility is not possible in every corner of the world.Many people still do not know how to use internet and also do not have any knowledge about bitcoin or cryptocurrencies.Since bitcoin is decentralized,government has not legalised bitcoin in many nations too.

ultraminer11

member

Activity: 106

Merit: 12

Quote from: ?? on ??

Hello filippounits, I simply sent you a information, help me to verify my CREA, I did not get the enough CREA . Please help me a check, many thanks. thank you mister, I have obtained my crea, many thanks.

Bitcoin, in contrast to the euro or others currencies has no legal price, that it. No one is required to accept it as payment. Today mainly
the sites about online games, sale of computer equipment and Internet services, such as the host of World Press blogs accept it and it is still just a fews.. But it fulfills the three economic functions of money: Unit of account, it allows to measure the values (prices in bitcoins, on). Some e-commerce sites ntermediate trade, it allows to set the transactions; store of value, it can be stored (on a digital portfolio hosted on a computer, a tablet or a smartphone) for a future purchase.

gatti

full member

Activity: 382

Merit: 109

Quote from: jessicawelsh on November 18, 2017, 12:00:02 AM

Yes it's hard to happen the situation that Bitcoin replaces fiats or fiats replace Bitcoin. Becasue each one have their own missions that others can't complete good.

But I don't think like that. I thought bitcoin will replace the entire FIAT system. After couple of years,you will use the bitcoin in the shop itself. That much popularity bitcoin will get.

suvo05

sr. member

Activity: 1162

Merit: 260

Quote from: bobyhodob on November 17, 2017, 01:16:09 PM

Quote from: fuer44 on November 17, 2017, 01:44:47 AM

Quote from: Oasisman on November 13, 2017, 09:07:13 PM

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 youre on point. Heres the thing, Bitcoin cannot replace fiat because.. Btc value only depends on another currency's existence which we call it "fiat". Bitcoin in reality is not a money. Bitcoin only provides a transfer function, wether its a payment for a service, or a payment for a product. We invest btc with the hopes to pump up its value right? We use fiat money to invest, some get it from services like campaigns, faucets, blogs, etc. But at the end of the day when the Btc value met or exceed our expectations, we exchange it for fiat. So, how can Btc replaced fiat in these case. Can Btc creates its own value without depending in another form of currency? Yes, btc has a lot of good features than fiat in some cases but simply cannot replace fiat.

yes, I really agree with you. the reason is quite simple, how can digital currency replace fiat? I will also add a little bit of my opinion on this, bitcoin is a new thing for investment, trading, and online transactions purposes. there is also no clear regulation from the government on bitcoin, so I think it will be better as it is now. we invest our money in bitcoin, pumping its value to go up properly and exchange it for money in the hope of making a profit.

Fiat is under government regulation and fiat used by all people in the world, in fact I think fiat is still better in terms of transaction, no fees, the payment can be done anywhere, there is no confirmation and work offline 100%. So how bitcoin can replace fiat, if the fact fiat is still excelled in terms of transaction.

But the flat have lot of problems. As we are becoming more and more dependent on the internet, we are buying products at eCommerce website more than we do in the sopping mall , we are trading online worldwide. Now how can you say that "no fees, no confirmation, work offline 100%".
Still, I think we don't need replacement of flat by any cryptocurrency. They both have different feature and they will co-exist.

cryptojaani

member

Activity: 252

Merit: 71

Quote from: jessicawelsh on November 18, 2017, 12:00:02 AM

Yes it's hard to happen the situation that Bitcoin replaces fiats or fiats replace Bitcoin. Becasue each one have their own missions that others can't complete good.

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.
Report to moderator

FairChine

newbie

Activity: 12

Merit: 0

If bitcoin have a paper money and credit card for bitcoin, i think bitcoin can replace fiat. But the problem is bitcoin do not have it and bitcoin just for online.

adiksau0414

full member

Activity: 462

Merit: 100

SOL.BIOKRIPT.COM

No, its not gonna happen. First of all, people in each country uses their currency for a long time in everything. It is the basis of their identity as a country. Secondly, bitcoin is not known to everyone especially to the poor country which has no access to media or internet. They are not familiar of what it is or how to use it (eventhough it has a very big potential to help them to earn big). If ever, bitcoin would be known in a large scale of population in the world, still it will not replace fiat. It will just be part of an assets and be exchange to the real money before it would use in everyday use (unless every establishment would accept bitcoin as payments)

expless

member

Activity: 200

Merit: 11

Quote from: Tiger Junk on November 10, 2017, 08:22:10 AM

Quote from: KryptoKoll.se on November 10, 2017, 08:20:57 AM

Quote from: Coinanalysis.io on November 09, 2017, 04:25:11 AM

Bitcoin can't, but faster cryptos would be able to. The main issue we have are the tx fees and the blocktime.

I totally agree! Hopefully BTC can adjust to be quicker in the future.

For me bitcoin can not replace fiat because bitcoin is not yet legal so how it will happend that bitcoin can replace fiat, And bitcoin now is getting more popular but until now it is not yet legal, so i think even it became legal in years to come it will not be able replace fiat but to do what the fiat can do is very possible in the future.

Yes the future of the bitcoin is good and a lot of the people are trying to invest in the bitcoin and this is the reason why a lot of the people are using the online shopping and the best part of the bitcoin is the huge use and the online payment I hope in the future we will see the bitcoin will become the only currency and this Is the reason why a lot of the people are buying the bitcoin and the value of the bitcoin will be very high and it is the reason the bitcoin is very famous.

ivanst776

legendary

Activity: 1540

Merit: 1003

Quote from: Kiweikoo on November 12, 2017, 07:55:49 AM

Quote from: fedorkr6 on November 03, 2017, 12:24:57 AM

The problem is that men and women do not have faith in bitcoin as considerably as they have confidence in fiat income. I consider bitcoin only as an alternative way to purchase and sell issues. There are not ample coins to be employed by all individuals folks that use fiat cash.

Why would you say men and women do not have faith in bitcoin ?
We all on this forum are all men and women, ladies and gents, youths and adults, and even outside this forum too. The reason why we are all here is because we have absolute faith that bitcoin would free us from the slavery that has been imposed on us over this years.

There is one thing to have access to that information, it is one thing not to have faith. I am sure every common man and woman that understands the importance of bitcoin would definitely have faith and be optimistic.

Flat is the physical money mate commonly known as cash money or paper money and this cash money will be replaced by the crypto currency sooner because its benefits are more as compared to the flat one that you are using so switch to the bitcoin as soon as possible because its will be really helpful in future for you so all story is here btc will surely replace flat as flat is not that much profitable as compared to btc.

HighlanderMonk

member

Activity: 266

Merit: 12

I can not say 100% about whether Bitcoin can replace fiat money, but one of all cryptocurrency can do it.

Bowly88

full member

Activity: 350

Merit: 100

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 if you see bitcoins technically they can never replace fiat or real money or cash or whatever you called it. Why? Simply because of the reason that their value are not that stable it can come to the point that their value will be worthless. They can be an alternative currency like they can be used as a mode of payment in a stores where i am looking forward to that because that would be a great thing for us users of bitcoins to have oir favorite restaurant to accept bitcoins as a payment but thats all bitcoins can go because decentralized things cannot replace a centralized thing.

Topic: Bitcoin can not replace fiat - page 25. (Read 163806 times)