Topic: Bitcoin can not replace fiat - page 3. (Read 163791 times)
Bitcoin is just a digital currency and to access with it you need a gadget and internet, so not all people have that requirements but in the fiat you just need to have a fiat itself to use it, So bitcoin can not replace fiat because of that, because some people cannot use bitcoin because of its requirement.
Right that bitcoin is being use as investment and it use to increase the income for the people but it is also true that now people use bitcoin more than fiat for shopping and for a lot of thing they were doing in past with money or fiat so now they prefer to do with bitcoin, I personally found bitcoin more reliable and convenient to use than fiat, bitcoin save my time and I can do everything with bitcoin without any problem, so the future of bitcoin is very bright I think in future we will see it legal.
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.
Bitcoin can not replace fiat, but bitcoin can be used for investments that can give us an advantage, and if we want to spend it we can convert bitcoins into fiat currencies.
So you can replace the fiat money it will take years. It is something possible, that can not be denied, but the realistic thing is that it hardly happens.
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 totally yes definitely not in this era because there are still some people who cannot access the internet so.how come that they can access the bitcoins and all the other coins. The problem is we are gonna have a hard time switching into things that the people used to use. Because that is much more essy and convenient to them. Ising a different currency os gonna be a hard thing. And still there are a poor people that will not access it and that is gonna be a bias
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.
Bitcoin can not replace fiat, but bitcoin can be used for investments that can give us an advantage, and if we want to spend it we can convert bitcoins into fiat currencies.
Bitcoin cannot replace fiat its true but It is a source to earn and convert into fiat.
But as days will pass more and more companies will accept bitcoin and it will be close to be used just as fiat
But as days will pass more and more companies will accept bitcoin and it will be close to be used just as fiat
I agree with that. Bitcoin couldn't replace fiat due to the fact that nowadays for you to acquire service, buy food, and live in this society you must have to used the local currency in your country which is acceptable in any form of entity in your country which we consider as fiat, and Bitcoin is a cryptocurrency, which was considerably less accepted as medium of payment nowadays since its a volatile currency.
I think in the same way we could transition to a cashless society, I think Bitcoin could be an option right alongside Mastercard and Visa.
Bitcoin can't supplant fiat its actual to compliment Fiat however It is a source to procure and change over into fiat.
In any case, as days will pass an ever increasing number of organizations will acknowledge bitcoin and it will be near be utilized similarly as fiat
In any case, as days will pass an ever increasing number of organizations will acknowledge bitcoin and it will be near be utilized similarly as fiat
One problem with Bitcoin conquering the world is that it's a finite amount of digital money. So if it is really going to replace fiat its value must be equal to all of the money in all of the countries combined. So just imagine what a colossal sum that would be since every country can create infinite amounts of cash.
Bitcoin could not replace fiat.Most people of under developed countries believe only fiat currency as real money which they could touch with their hands.Most people don't have credit and debit cards and they are not familiar with digital transactions.So fiat would exist and bitcoin would become as secondary payment option.
It’s very unlikely.There’s a low chance for it, since it’s decentralized and quite a bit of countries, like Russia (even though they have recently confirmed legalization of crypto) aren’t very pro-Bitcoin, since sometimes it’s used for money laundering and drugs, also it might as well bug them a little bit that those are money they can’t really control.Also, we might take into consideration that there’s a very limited amount of Bitcoin existing (and around 4M of them are already lost).But crypto is in a very good use right now and with recent adaptations, we can only see a great future for it.
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.
Yes true, bitcoin will never replace fiat, this is because the state protects fiat like protecting other state assets, it is strange if we think that bitcoin replaces fiat while many things become bitcoin big job eg problem of the transaction speed.
The fact is that not because of Bitcoin transactions may not take place Fiat in the financial world. The fact is that many people will not be able to use crypto currency as a means of payment, because they do not have the opportunity in the Technical Plan, while in others there is not enough knowledge.However if one already owns bitcoins, this problem that you have becomes non-existent.
For me I think it cant replace but bitcoin and fiat is always the best opportunity that we can make an income.Because we can simply converte in fiat from out bitcoin right now. Yes true, bitcoin will never replace fiat, this is because the state protects fiat like protecting other state assets, it is strange if we think that bitcoin replaces fiat while many things become bitcoin big job eg problem of the transaction speed.
The fact is that not because of Bitcoin transactions may not take place Fiat in the financial world. The fact is that many people will not be able to use crypto currency as a means of payment, because they do not have the opportunity in the Technical Plan, while in others there is not enough knowledge.
It will not replace fiat since these digital currencies especially bitcoin is not that stable and also, it is volatile, how will the government handle a currency that might take down the economy of their country?
Yes true, bitcoin will never replace fiat, this is because the state protects fiat like protecting other state assets, it is strange if we think that bitcoin replaces fiat while many things become bitcoin big job eg problem of the transaction speed.
The fact is that not because of Bitcoin transactions may not take place Fiat in the financial world. The fact is that many people will not be able to use crypto currency as a means of payment, because they do not have the opportunity in the Technical Plan, while in others there is not enough knowledge.
I think yes no other currency or new currency would take replace the fiat, fiat is much usable than bitcoin since not all of us can access this currency specially for those poor people who can not provide gadgets and internet connection.
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.
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