Bitcoin can not replace fiat - page 29.

ocid

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Quote from: Dudeperfect on November 10, 2017, 01:44:21 PM

Quote from: Shendy23 on November 10, 2017, 01:38:47 PM

I agree with the subject line. Bitcoin could not replace fiat. Every country has its own culture and traditional currency that symbolizes our ethics and nationality and no one could replace that. Bitcoin could be added as a kind of currency and could be use as a medium of exchange but could replace a fiat. This is what I believe.

There is a large number of people who believe in the same way. No offence in it but it is the part of the habits and the culture which is inculcated over the centuries and I don't see that crypto currencies replacing fiat currencies at least in next 50 to 100 years from now. There will be a change in the form such as digital payment, payment using bio-matric details while using the currency and transferring the values but it won't replace it at all.

the traditional currency will still exist in every country, because the currency we use has its own history. The bitcoin digital currency will not replace the existing fiat currency because the bitcoin digital currency is just a modern technology today.

Prince786

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bitcoin is the only currency whose value keeps on increasing over a period of time. Fiat money in physical form can get spent anywhere without the need of an internet connection. These are very important differences.
It is almost the same with a tradition. It doesnt stop as long as it is being preserved right? So if that is the case it will be really hard to put fiat out.

raven7886

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Quote from: Trela on November 01, 2017, 02:22:03 PM

If we have a world can accept Bitcoin as a digital currency without controller or manager, I think the world can be worst. Because the crime will take advantage the Bitcoin system for their transaction, the student will become to investor because the profitable of Bitcoin made them interested and quit school...

I really do hate it when we attribute crime to bitcoin so much like bitcoin brought crime with it. Crime has always been existing even with controls. Even the government who has always been in control are the ones majorly contributing to most of the criminal activities going on, so what are we saying ?

Sure, if bitcoin is regulated, it would limit crime, but does that mean people will not still find a way like they always have been finding a way even with fiats? They definitely will. We need to focus more on the good side of it than the bad side which to me is being too exaggerated.

Xenoph0bia

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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.

Yes. I do believe that bitcoin can not replace fiat money even though bitcoin has gained immense popularity and users in its journey since it had started. This is because firstly, fiat money is way more popular than bitcoin and because of which it has way more users of all age groups associated with fiat money whereas bitcoin has very less users as compared to fiat money. Secondly people trust fiat money more than bitcoin and fiat money is stable whereas bitcoin is not stable.

Dudeperfect

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Quote from: Shendy23 on November 10, 2017, 01:38:47 PM

I agree with the subject line. Bitcoin could not replace fiat. Every country has its own culture and traditional currency that symbolizes our ethics and nationality and no one could replace that. Bitcoin could be added as a kind of currency and could be use as a medium of exchange but could replace a fiat. This is what I believe.

There is a large number of people who believe in the same way. No offence in it but it is the part of the habits and the culture which is inculcated over the centuries and I don't see that crypto currencies replacing fiat currencies at least in next 50 to 100 years from now. There will be a change in the form such as digital payment, payment using bio-matric details while using the currency and transferring the values but it won't replace it at all.

Shendy23

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I agree with the subject line. Bitcoin could not replace fiat. Every country has its own culture and traditional currency that symbolizes our ethics and nationality and no one could replace that. Bitcoin could be added as a kind of currency and could be use as a medium of exchange but could replace a fiat. This is what I believe.

scorpion27

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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

conected

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Quote from: dynospytan on November 10, 2017, 08:59:50 AM

Absolutely yes. Bitcoin cannot replace fiat because most of the country don't consider or allowing bitcoin as a real currency. As long as they don't allow bitcoin as real currency there are no possibility of replacement currency. Aside from that bitcoin value is just depending on fiat and even if bitcoin price will increase, still it cannot replace real money.

- Exactly, bitcoin can not replace fiat, the government will not allow that to happen, they can not manage transactions around bitcoin, they can not let bitcoin replace their money, that will cause a lot of problems, the society will be chaotic because the occurrence of bitcoin, illegal activities will occur more often. In addition, bitcoin is still only a virtual currency, 1% of the world's population knows about bitcoin, it is not so common, everyone likes to use fiat rather than bitcoin, fiat has been the habit of everyone, fiat is more convenient than bitcoin, there is no reason to replace fiat

Tiger Junk

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Quote from: KryptoKoll.se on November 10, 2017, 09:20:57 AM

Quote from: Coinanalysis.io on November 09, 2017, 05:25:11 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.

KryptoKoll.se

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Quote from: Coinanalysis.io on November 09, 2017, 05:25:11 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.

naidray

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Quote from: HatakeKakashi on November 03, 2017, 02:48:39 AM

Bitcoin will never replace fiat . Because we dont know when bitcoin still alive or die. Even the price of bitcoin also is very high its not the advantage to replace fiat. Bitcoin woll end for sure but we dont know when but I hope it will live long. Fiat will live long and for sure maybe century .

Alive or dead, I do not see how that can even be possible for bitcoin to replace fiat. You think those controlling punks would even want a decentralized currency to replace a centralized fiat without a fight? We should not even go to that area. Asides that, some category of people would still be making use of bitcoin while some would still stick to normal fiat. It all totally balls down on each individual and their preferences as well as the information they have.

dynospytan

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Absolutely yes. Bitcoin cannot replace fiat because most of the country don't consider or allowing bitcoin as a real currency. As long as they don't allow bitcoin as real currency there are no possibility of replacement currency. Aside from that bitcoin value is just depending on fiat and even if bitcoin price will increase, still it cannot replace real money.

Jake Virus

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Quote from: Hartmas on November 10, 2017, 07:02:22 AM

Yes, bitcoin can not replace the Fiat. But in 10 years it can become a reality. Bitcoin will be just as popular and popular as a centralized coin

Its a big yes, Bitcoin is different from fiat, bitcoin is a cryptocurrency that is blooming or getting popular year by year, and bitcoin is can be alternative for fiat because i think in the future we can also use bitcoin for online payment like lazada, shopee etc so for me bitcoin cannot replace fiat but it can be use an alternative for fiat.

zombie6

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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

Hartmas

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Yes, bitcoin can not replace the Fiat. But in 10 years it can become a reality. Bitcoin will be just as popular and popular as a centralized coin

krisnt80

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Fiat should stay for some more years, as some countries are already developing their own crypto currencie wich can one day replace the fiat and stop waste money and resorces with the printed money as nowadays. Bitcoin has only proven a decentralized currencie can grow and get value outside the control of countries, and isnt here to replace anything, is an option as cards, just one more option to pay for something.

Jedzkie050617

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Quote from: AwesomeStaIker on November 07, 2017, 04:58:20 PM

However , people do not trust bitcoin around they trust fiat cash. I consider bitcoin only as an alternative method to buy and sell issues. There aren't sufficient cash for use by all those people that use fiat cash.

Having a bitcoin nowadays, is advantage to us which is very demand and most trusted crypto currency in the cyberworld. Also, fiats money is very important to all of us by buying and selling things. My point is that both are very important nowadays and no one can replaced of them. Earning from bitcoin will be converted to fiats, since most countries didn't yet implemented bitcoin transaction, so for now fiats is still important. Maybe someday, fiats money will be converted to bitcoin due to the bitcoin transaction which is easy and fast just like sending e-mail or txt messages.

n0ne

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SecureShift.io | Crypto-Exchange

What bitcoin has reached in terms of growth is very big to be reached in such a short time period. The same when it comes to gaining trust, it hasn't reached big as the traditional fiat. For this it needs to grow and move on further, only then it can get a consideration similar to fiat. Until that no need to make any clarification about replacing of fiat with bitcoin.

Kasabus

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Quote from: hpmp on November 07, 2017, 07:21:42 PM

Quote from: roccstar on November 07, 2017, 06:08:14 PM

Bitcoin can no way replace the fiat currency. Fiat currency has got its own advantages. Just imagine if we want to purchase a 2 dollar object from a shop, we always try to pay the shopkeeper with fiat currency. Suppose if we pay in bitcoin, we need to spend totally 5 dollars for purchasing it including its transaction fees. Bitcoin is useful for bigger transactions and for smaller transactions still fiat is the best method.

if transaction price will go down, crypto currencies can replace credit and debit cards. So yeah, there is the way Bitcoin can replace fiat - become more convenient for small payments. That's it.

Some companies are ready to adopt cryto currency, since it's fast and more cheaper then for sure more people will adopt and their market will increase.
I don't think even bitcoin will be popular it will replace fiat, think of the present situation, people are still not willing to take risk without government regulation.
Bitcoin is still young and there will be a lot of battle or trial that it needs to surpass.

Coinanalysis.io

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

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