bitcoin is not going to replace money for today that's my opinion, because many do not know about bitcoin so money is still in need, and also money is the identity of a country
You are absolutely right in this regard but things are not like this anymore. Yes for current scenario bitcoin is not that much available at every level of population but we are talking about the future. And surely, believe me in future, there will be no paper money because the whole system would be changed into digital world and we will be seeing bitcoins everywhere. 
Topic: Bitcoin can not replace fiat - page 27. (Read 163791 times)
Replacing fiat money by bitcoin will not be possible now, but maybe in the future. Bitcoin is not yet that popular as what others think it was. Most people doesn't knew that this currency exist, and most of them are not interested to know it. Fiat money is what all people use in veryday living, and it cannot be replace by a digital currency in just a few time. It is more possible in the future, becauae technology are continuously growing, we are having higher technology than before.
Bitcoin is an asset itself and it has feature that is even better than fiat but due to the fact that fiat has been used by many worldwide and is used by people from different walks of life- may it be rich or poor, surely it can never be replaced by any digital currency anytime soon. However, we really cannot predict the future due to the advanced technology that we have right now and many possibilities will happen.
Replacing fiat money by bitcoin will not be possible now, but maybe in the future. Bitcoin is not yet that popular as what others think it was. Most people doesn't knew that this currency exist, and most of them are not interested to know it. Fiat money is what all people use in veryday living, and it cannot be replace by a digital currency in just a few time. It is more possible in the future, becauae technology are continuously growing, we are having higher technology than before.
Large amount of darkmarket ocatons ouldlike to scam you since they're not providing great items they're providing phony products to only generate your bitcoins by not doing anything.liw
So how is this related to bitcoin wont be able to replace fiat?
I agree that bitcoin can not replace fiat right now but as soon as bitcoin gets involved in more serious matters with the world economy, the higher the chances that it will take over all the other existing currency. Bitcoin can not dominate it all completely today because it is not yet legal all over the world but if ever it will become legal, there would be chances that bitcoin will replace fiat and it will be a part of our living in the future.
Right now not yet because atleast half of the world's leader is currently stalling the progression of bitcoin. Sooner or later people will know that they cant do anything to spread this awareness. People need to know that the growth of bitcoin is natural and Im sure someday it would be part of us
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.
I agree that bitcoin can not replace fiat right now but as soon as bitcoin gets involved in more serious matters with the world economy, the higher the chances that it will take over all the other existing currency. Bitcoin can not dominate it all completely today because it is not yet legal all over the world but if ever it will become legal, there would be chances that bitcoin will replace fiat and it will be a part of our living in the future. 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, 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.
There are still a lot of complication with the use of bitcoin in the world. You can say that bitcoin is dominating all the other cryptocurrencies right now but what really matters is the legalization of it within every nation of the world. If bitcoin won't be developed as a currency to be used by everyone in the future, it will never ever have a chance on replacing the fiat since fiat are the one we are used to use so far right now. 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, 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.
Before I start, I want to remind you that this is only my own opinion .. I definitely agreed of what you are saying ..But the reason about the coffee can be solve in the future. Like just sending money wallet to wallet from your phone ..The real reason I can see that bitcoin can not replace fiat. As not all people in the world can use it. especially in places with out electricity or simply just because a lot of people not trust it. And also think if bitcoin replace fiat. there will be a shortage as the maximum we can only mine is only 21m.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.
well as I've said,this is only in my opinion..
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 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.
Indeed bitcoin can not exchange fiat lead to bitcoin can only utilised in on the web transactions and for investment decision but fiat is extremely valuable it can be use for every day residing.
For now it can't,since bitcoin were not applicable yet on more stores, some just implemented it but not easily accessible yet, soon when more developments occur, it can be possible.Well I guess it can never happen. Fiat will still exist and bitcoin can never replace fiat because of the fact that everyone is using it. Also, it is being used worldwide, unlike bitcoin, only few stores accept bitcoin as mode of payment. Fiat has the support of the Government and I don't think the Government will let bitcoin take over fiat.
I still believe that in the near future bitcoin will be fiat and it will become a common currency as paypal is accepted for every online payment.
Indeed bitcoin can not exchange fiat lead to bitcoin can only utilised in on the web transactions and for investment decision but fiat is extremely valuable it can be use for every day residing.
For now it can't,since bitcoin were not applicable yet on more stores, some just implemented it but not easily accessible yet, soon when more developments occur, it can be possible.
Indeed bitcoin can not exchange fiat lead to bitcoin can only utilised in on the web transactions and for investment decision but fiat is extremely valuable it can be use for every day residing.
Well yea.. if you see it like that you could say if your savings are in bitcoin you could say you have 0 actual savings.
this is a good idea to make payments easier, but for now it can not be used because there are still many who do not know what bitcoin is. it may take about 10 years u
again to use this idea.
again to use this idea.
Bitcoins were designed to be – and, in many ways, are – the perfect digital currency: they’re frictionless, anonymous, and cryptographically astonishingly secure. For anybody who’s ever suffered the incompetence of a bank, or bristled at the fees involved in just spending money, either domestically or abroad – that is to say, for all of us – the promise of bitcoin is the holy grail of payments. Especially since, to all intents and purposes, bitcoins are invisible to law enforcement and the taxman.
Those strengths are also weaknesses. No one wants to risk losing millions of dollars worth of currency overnight, just because they were outsmarted by some computer hacker.
Chances are that governments will want to control monetary policy "manually" (politically), as opposed to let math do the decisions for them.
That would mean for governments to give up the crucially important power to willfully control wealth distribution.
I see this part by far the biggest hurdle in the future of Bitcoin.
Although the political slogan in all developed countries is "free market economy" - it is only free, as long as the political elite is free to set the rules. Including monetary policies.
The technical ingenuity of Bitcoin is that it is a platform, that allows to bypass this nation state government power and control, by connecting citizens directly, anywhere around the globe to vote about the price of a mutually accepted, therefore existing currency, that they can use among each other to trade goods and services - purely on the value that is determined across the globe, real time, by them, the participating individual citizens.
The implication of this is hard to overestimate.
Bitcoin is the first mover in the market and there is no reason to believe that Bitcoin will not be a leader over the next decade because the growth of this market has inherent positive feed-back loops.
As the market grows in size the developers who believe in the durability of Bitcoin in the long term have more funds, and time to invest in technological improvements.
Those strengths are also weaknesses. No one wants to risk losing millions of dollars worth of currency overnight, just because they were outsmarted by some computer hacker.
Chances are that governments will want to control monetary policy "manually" (politically), as opposed to let math do the decisions for them.
That would mean for governments to give up the crucially important power to willfully control wealth distribution.
I see this part by far the biggest hurdle in the future of Bitcoin.
Although the political slogan in all developed countries is "free market economy" - it is only free, as long as the political elite is free to set the rules. Including monetary policies.
The technical ingenuity of Bitcoin is that it is a platform, that allows to bypass this nation state government power and control, by connecting citizens directly, anywhere around the globe to vote about the price of a mutually accepted, therefore existing currency, that they can use among each other to trade goods and services - purely on the value that is determined across the globe, real time, by them, the participating individual citizens.
The implication of this is hard to overestimate.
Bitcoin is the first mover in the market and there is no reason to believe that Bitcoin will not be a leader over the next decade because the growth of this market has inherent positive feed-back loops.
As the market grows in size the developers who believe in the durability of Bitcoin in the long term have more funds, and time to invest in technological improvements.
I'm sure that Bitcoin will never replace the national currency and fiat. Bitcoin always stay at any time without an alternative currency. not too many people know about it. and a fiat money everyone knows from infancy
However if one already owns bitcoins, this problem that you have becomes non-existent.
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.
BTC more frictionless therefore can help facilitate trade and industry in this new era of everything superfast, replacing fiat currency, yes can and much better, fiat currency is not sound money, they belong to mental institution
Although they population are using bitcoin. the government will continue to sustain their currency or fiat.bitcoin can actually replace fiat. Yes, it might be a complicated process to go through, but we'll get there eventually. I have complete faith and trust in BTC.It may be in the future, to simplify calculations in the international level. People and adopt the single currency.
Bitcoin can supplant fiat. Indeed, even it has supplanted in light of the fact that take a gander at the Sweden, Australia, Singapore, Thailand, Africa, Pakistan, India and numerous more have acknowledged bitcoin on the grounds that it has changed the economy of these nations considerably more better. Presently on the off chance that you discuss China at that point there individuals are exchanging through worldwide market of bitcoin.
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