Bitcoin can not replace fiat - page 31.

Finestream

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Quote from: Naoko on November 05, 2017, 06:01:57 PM

Quote from: ?? on ??

Bitcoin can't replace fiat money because most governments depend on the money printing and volume manipulating system.

of course...these systems have been built for centuries...but there was no cryptocurrency 10 years ago...it's just a way to make money yet, but it's not clear how it will behave itself in the future

Cryptocurrency will surely exist longer because even with less support coming from the government but we supporters are supporting it.
Also, it will be hard for the government to shut down because it's impossible to shut down all the servers which the miners will surely not gonna abide since they are making money with their business. They can regulate bitcoin but they cannot eliminate this, just like bitcoin replacing fiat.

Naoko

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Quote from: ?? on ??

Bitcoin can't replace fiat money because most governments depend on the money printing and volume manipulating system.

of course...these systems have been built for centuries...but there was no cryptocurrency 10 years ago...it's just a way to make money yet, but it's not clear how it will behave itself in the future

bitgov

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Quote from: valisa on November 05, 2017, 11:04:25 AM

for now maybe bitcoin will not replace the fiat because the user bitcon is not as big as fiat, maybe in the future bitcoin can replace it

Not maybe, it will be like that. Take a look at how fast newcomers come in and the price of bitcoin is rising, so the market will look like now from now till X years in future.

websoftwareengineer

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In my own opinion, Bitcoin can never replace fiat since it was a nation wide currency and there are a lot of confidential transactions that are already been made that need to be kept and it was very hard to change everything immediately.

valisa

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for now maybe bitcoin will not replace the fiat because the user bitcon is not as big as fiat, maybe in the future bitcoin can replace it

dmbragin

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If bitcoin have a paper income and credit history card for bitcoin, i consider bitcoin can substitute fiat. But the problem is bitcoin will not have it and bitcoin only for on-line.

Al Amin

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True, until whenever I think that bitcoin will not replace the fiat. Because fiat will last forever. Where bitcoin is digital money and where not all governments accept it. Therefore bitcoin will be difficult to replace fiat money but it is possible to become second alternative money after fiat.

Afnan_faizah

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Quote from: supandi wiharja on November 03, 2017, 03:23:25 AM

I think looking at the current situation, bitcoin prices are amazing.
So i think nothing is impossible, it could be for the next 5 years bitcoin will replace the fiat.
The government needs a lot of consideration, to be an international currency i think it can, but to change the currency of each country, i think it is certainly impossible, where the currency of a country is its own pride.

I think it still possible, the use of fiat in some countries are already decrease. Especially for countries which has been in crisis for years such zimbabwe, people there buy btc to survive times of economic uncertainty. So bitcoin can replace fiat if the people think that bitcoin is better and can help them or by another reason.

Rebisco

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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.

I know it is true that the bitcoin cannot replace fiat currency. Many people saying that the cashless society will happen. I agree to that but I think fiat currency will never be extinct. Many people are still prefer to use fiat than cryptocurrency.

supandi wiharja

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I think looking at the current situation, bitcoin prices are amazing.
So i think nothing is impossible, it could be for the next 5 years bitcoin will replace the fiat.
The government needs a lot of consideration, to be an international currency i think it can, but to change the currency of each country, i think it is certainly impossible, where the currency of a country is its own pride.

barmutinikita

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So fiat is confirmed by gold, gold is confirmed by demand. It has high demand cause there are limited quantity of gold in the world. May be even 21 million kg Grin

It's heavy mining. But in situation with crypto we don't need to use human strength Shocked

If people change their mind about familar understanding of money, for example "you must touch you money" , may be we can clowly replace fiat

Meowth05

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Quote from: HiringYou on October 30, 2017, 02:54:53 PM

Fiat money is the most trusted mode of payment which is being used since years.Fiat money has a physical form which means it can be used in any store but Bitcoin dont have any physical form.Moreover fiat money is centralized in nature so the government can impose taxes on the transactions and can identify the people involved in the transactions made through fiat money,but government has no such control on Bitcoin. First of all it will take alot of time for Bitcoin to earn that amount of trust that people have on fiat money and secondly government will not allow any such currency on which they have no control to replace fiat money.

Precisely, it will take a time in order for bitcoin gain the trust of people. Fiat has been used in a long period of time in any kind of transaction such mode of payment in stores and etc. Besides, most of the people is more handy to use fiat so they would rather to use fiat in their daily transaction. Therefore, it will be tough or maybe it will it is impossible for bitcoin to replace fiat

HatakeKakashi

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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 .

fedorkr6

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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.

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Quote from: Skyshark on November 01, 2017, 01:58:22 AM

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.

I think this two currencies are both different currencies that have different advantages, but I can say that together, they could be of more advantage to their users, buyers and investors. I wouldn't say that bitcoin would want to replace fiat because that is not its original purpose. I would like to think of this two as partners, that helps each other to give its users a much better advantage or experience.

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...

Skyshark

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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.

I think this two currencies are both different currencies that have different advantages, but I can say that together, they could be of more advantage to their users, buyers and investors. I wouldn't say that bitcoin would want to replace fiat because that is not its original purpose. I would like to think of this two as partners, that helps each other to give its users a much better advantage or experience.

Andre#

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Quote from: giarised on October 31, 2017, 04:06:50 AM

Quote from: cryptoalfs76 on October 21, 2017, 10:19:15 AM

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.

Maybe for us now bitcoin cannot replace fiat but its higher value and more demand all over the world because of its higher value in the digital world. fiat is fiat and no one can replace it as our money currency that we used everyday in our life,but remember bitcoin now is making her own legacy.

Ever since I got into Bitcoin, I never saw it as a currency like other people do or something similar. I only see it as a digital asset specifically meant for investment, and that’s what it is. We shouldn’t see it as a Currency.

In the past, when the price of Bitcoin was 3 digits USD or 2 digits USD, it really a currency for online payment.
But at present, the price of Bitcoin has pumped to high value and maybe, in this year, we can see the price of Bitcoin reaches 5 digits.
It really should to become a digital asset than a digital currency.

giarised

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Quote from: cryptoalfs76 on October 21, 2017, 10:19:15 AM

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.

Maybe for us now bitcoin cannot replace fiat but its higher value and more demand all over the world because of its higher value in the digital world. fiat is fiat and no one can replace it as our money currency that we used everyday in our life,but remember bitcoin now is making her own legacy.

Ever since I got into Bitcoin, I never saw it as a currency like other people do or something similar. I only see it as a digital asset specifically meant for investment, and that’s what it is. We shouldn’t see it as a Currency.

HiringYou

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Fiat money is the most trusted mode of payment which is being used since years.Fiat money has a physical form which means it can be used in any store but Bitcoin dont have any physical form.Moreover fiat money is centralized in nature so the government can impose taxes on the transactions and can identify the people involved in the transactions made through fiat money,but government has no such control on Bitcoin. First of all it will take alot of time for Bitcoin to earn that amount of trust that people have on fiat money and secondly government will not allow any such currency on which they have no control to replace fiat money.

golub_io

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Quote from: Meuh6879 on December 23, 2015, 12:06:06 PM

Quote

Re: Bitcoin can not replace fiat

It can ... and It will.

FIAT BANKSTER

BITCOIN

Cost of a McDonald's in Europa Zone = 13 USD ... Roll Eyes

Nooooooooooooo, it's not the bank ... for the inflation ?!? Angry

I believe the future is after cryptocurrencies. Yes, these days the situation is quite unstable. But it's only beginning. And I am sure that cryptos make the idea about decentralized emission run not by government coming true. Every single day.

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