Topic: Bitcoin can not replace fiat - page 4. (Read 163791 times)
Yes as much as I want Bitcoin to be the official currency of the world i do not think that Fiat can be replaced by Bitcoin or any coins. Government will not allow it yes they can pass a bill or make a law that they can recognize it as a currency but not as their official currency. Also there are to many Billionaires who know the right people who are not invested in Bitcoin. They will definitely not agree if their money became worthless. Also sad but true that there are still many people who do not know Crypto currency or Bitcoin.
I think Fiat cannot be replaced by bitcoin because there's a lot of factors that needs to be consider. Once example is that bitcoin is not fully introduce around the world. For now we have to enjoy the purpose of bitcoins. Who knows in the future. Maybe.
Yes bitcoin cannot replace fiat.Bitcoin is just a cryptocurrency and requires internet connection to get operated.Fiat currency is used by every person all over the world.
cryptocurrency is indeed a very good technological development in terms of transactions, but I also feel that cryptocurrency can not replace fiat. In general, fiat has been used since generations in the last few hundred years as a tool of transactions. replacing the current fiat will only create economic instability.
if the digital era come and all people using bitcoin as main currency, bitcoin will replace fiat system
Bitcoin is asset just like gold and silver and fiat is the one that evaluate the value of every asset. So bitcoin can never replace fiat but it can dominate the online payment processors with low fee. 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.
The cash will not disappear. If the cash disappeared in our economy, there are many problems will appear in our society and in our economy. The people in our society can't easily adapt the digital currency if the fiat currency will disappeared. 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.
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.
see condition of bitcoin at this time, it can be happen. I think
Bitcoin is an optional type of income source but it doesn't change the way on how we look unto fiat money currency. Eventhough btc has a lot of advantages compared to fiat money cash, it doesn't mean we will replace fiat with bitcoin. It could only be a source of fiat money because it's kind of sustainable profit source but it has a big difference with regards on how people would adopt it in the economy
Indeed but i believe it absolutely was incomprehensible this point. What may I say therefore basically as a result of there area unit already nation prohibited bitcoin. Beside that people UN agency doesn’t have internet association cannot approach thereon. think about the poor folks or people within the class, all told bitcoin can at the moment bitcoin and rescript can even currently stay in lightweight of the very fact that it absolutely was bolstered by the administration and everyone will utilize it distinction with bitcoin that lone the people UN agency recognize to urge thereto will used and procure it.
For me, Bitcoin should replace fiat. As you study Bitcoin deeply, you'll understand that Bitcoin is better to use as currency than our traditional money today. One thing is, Bitcoin has limited supply. As the hard cap reach, we cannot add more Bitcoin. Unlike our fiat today, the government print and print money. Making our money today less in value than yesterday.
I think Bitcoin can replace the fee and combine all the coins in the world because we can use every bit of it in the world when they use Bitcoin, they can do the same amount and Bitcoin, different fees, time to send and receive, and wallets for user use.
I think it is impossible or not easy, because there are still many who oppose and do not believe in bitcoin .. and besides it is not easy to change the rules that have been agreed by the government and state banks .. and besides it requires intelligence to use it and it requires a process that is not easy will be the pros and cons
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.
see condition of bitcoin at this time, it can be happen. I think
Not yet it seems but there's no denying the possibility of Bitcoin or some similar form of digital currency replacing Fiat. We are in the digital age and it appears that we are not far off from the times of paperless money, which would in turn usher in a replacement for the current Financial system.
Truly it may not be conceivable in show time. since around 99% individuals as yet utilizing fiat cash. what's more, the individuals who are utilizing bitcoin they likewise utilizing it as a moment alternative. so in exhibit time it may not be conceivable. however, I think in future if every one of the nations similarly sanction bitcoin and individuals begin bitcoin to use in their nearby market then it is conceivable that individuals will for the most part supplant their fiat to bitcoin.
Other coins can make this happen due
The only disadvantage that make bitcoin hard to replace fiat in the first place is due to the fact that bitcoin can not be used when you are offline. That's big disadvantage for me and if that will not be addressed, i don't think bitcoin can be use for all.
Other coins can make this happen due
If BTC is stable at price and the speed of transfer can be realized within one minute!
Paying a cup of coffee with BTC may come true!
But the BTC cannot replace fiat money, because the politicians will defend their own financial quanl.
Paying a cup of coffee with BTC may come true!
But the BTC cannot replace fiat money, because the politicians will defend their own financial quanl.
All the things related to cryptocurrency happen very quickly, so predicting them is always tough. But to answer your question, Bitcoin can never replace fiat currency; probably the governments will never let that happen. They will never want to lose their control over the financial system of the country. Further, Bitcoin can never have that mass adoption which fiat currency has. The poor and weaker sections of the society, who do not have an access to smart phones and internet, cannot think of using Bitcoin. We can’t ignore that section. So Bitcoin will never replace fiat currency.
I'm quite sure that people expressed same opinions about credit cards - that masses will never accept it etc. What happens now? I think you know very well - more and more cash operations are made via cards.
Jump to: