Bitcoin can not replace fiat - page 43.

Edraket31

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Quote from: BunnyShibe on September 21, 2017, 06:57:26 PM

Quote from: jamids on September 20, 2017, 04:30:31 AM

Quote from: Sled on September 20, 2017, 03:29:43 AM

Indeed, even for us that bitcoin seems a popular currency and it is a great investment to put our money but for most of the people in the world, it is not an interested topic for them to buy bitcoin and consider it as a legit investment because for them, bitcoin is not worth it because of its fluctuations which is wrong and even bitcoin cannot replace the fiat money, it can still be adopt by a lot of people and the majority of the people in the world just need some orientation so they can learn and understand bitcoin.

It is still hard for bitcoin to replace fiat because many people don't even have access yet to the basic tools needed to transact using bitcoin. People need gadget, electricity and internet connection and there are so many people who have no access yet to this kind of necessities. In developing countries, some people don't even have electricity so it would be hard for them to transact using it. More possibility is that they don't even know about it so it would be kind of hard for bitcoin to replace fiat during this time.

The only option I can see for bitcoin now is treat it as a store of value along with precious metals and commodities as many are saying its kind of expensive to transact small value transactions so having it as an option for long term investment is a good way of using it. Maybe it cannot replace fiat but it will co-exist with it along with all other cryptocurrencies.

I agree with you that it is very hard for bitcoin to defeat fiat completely because mostly of world population are poor and illiterate. People of third world countries are still deprive from electricity and are still even seeking for food so how they can access to bitcoin even to understand bitcoin. Under-develop countries are also facing lake of electricity problem, lake of computer knowledge and facility of internet. So it is right that in near future bitcoin cannot replace fiat.

Besides bitcoin has just a limited number I don't think it can accommodate all the needs around the world, and the set up for now is enough for me because bitcoin has been an alternative to fiat and the price is becoming higher as time goes by, so no need to argue with this as per me we need both of them in our society.

rhamzter

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Quote from: djgtr on September 21, 2017, 08:50:47 PM

Quote from: BunnyShibe on September 21, 2017, 06:57:26 PM

Quote from: jamids on September 20, 2017, 04:30:31 AM

Quote from: Sled on September 20, 2017, 03:29:43 AM

Indeed, even for us that bitcoin seems a popular currency and it is a great investment to put our money but for most of the people in the world, it is not an interested topic for them to buy bitcoin and consider it as a legit investment because for them, bitcoin is not worth it because of its fluctuations which is wrong and even bitcoin cannot replace the fiat money, it can still be adopt by a lot of people and the majority of the people in the world just need some orientation so they can learn and understand bitcoin.

It is still hard for bitcoin to replace fiat because many people don't even have access yet to the basic tools needed to transact using bitcoin. People need gadget, electricity and internet connection and there are so many people who have no access yet to this kind of necessities. In developing countries, some people don't even have electricity so it would be hard for them to transact using it. More possibility is that they don't even know about it so it would be kind of hard for bitcoin to replace fiat during this time.

The only option I can see for bitcoin now is treat it as a store of value along with precious metals and commodities as many are saying its kind of expensive to transact small value transactions so having it as an option for long term investment is a good way of using it. Maybe it cannot replace fiat but it will co-exist with it along with all other cryptocurrencies.

I agree with you that it is very hard for bitcoin to defeat fiat completely because mostly of world population are poor and illiterate. People of third world countries are still deprive from electricity and are still even seeking for food so how they can access to bitcoin even to understand bitcoin. Under-develop countries are also facing lake of electricity problem, lake of computer knowledge and facility of internet. So it is right that in near future bitcoin cannot replace fiat.

yes i agree on that it is really hard for bitcoin to replace fiat.because fiat is under the government .people under the one government need to used fiat .because in the first place government will need a return suc as taxes a business commission etc.and in bitcoin it is really hard because not all of the people knows bitcoin how it well be going to use or maybe gain from it.

Even how long bitcoin runs in the whole world I believe that they have no capacity to replace fiat in the market. Since all money of each country were registered as their primary currency in their government, bitcoin is an international currency but not totally under by supervision by the government. Moreover, in everyday fiat is the primary usable things that needs by each person and not all people are known about bitcoin. Even they have knowledge but they can't know the benefits we incurred in this coin.

djgtr

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Quote from: BunnyShibe on September 21, 2017, 06:57:26 PM

Quote from: jamids on September 20, 2017, 04:30:31 AM

Quote from: Sled on September 20, 2017, 03:29:43 AM

Indeed, even for us that bitcoin seems a popular currency and it is a great investment to put our money but for most of the people in the world, it is not an interested topic for them to buy bitcoin and consider it as a legit investment because for them, bitcoin is not worth it because of its fluctuations which is wrong and even bitcoin cannot replace the fiat money, it can still be adopt by a lot of people and the majority of the people in the world just need some orientation so they can learn and understand bitcoin.

It is still hard for bitcoin to replace fiat because many people don't even have access yet to the basic tools needed to transact using bitcoin. People need gadget, electricity and internet connection and there are so many people who have no access yet to this kind of necessities. In developing countries, some people don't even have electricity so it would be hard for them to transact using it. More possibility is that they don't even know about it so it would be kind of hard for bitcoin to replace fiat during this time.

The only option I can see for bitcoin now is treat it as a store of value along with precious metals and commodities as many are saying its kind of expensive to transact small value transactions so having it as an option for long term investment is a good way of using it. Maybe it cannot replace fiat but it will co-exist with it along with all other cryptocurrencies.

I agree with you that it is very hard for bitcoin to defeat fiat completely because mostly of world population are poor and illiterate. People of third world countries are still deprive from electricity and are still even seeking for food so how they can access to bitcoin even to understand bitcoin. Under-develop countries are also facing lake of electricity problem, lake of computer knowledge and facility of internet. So it is right that in near future bitcoin cannot replace fiat.

yes i agree on that it is really hard for bitcoin to replace fiat.because fiat is under the government .people under the one government need to used fiat .because in the first place government will need a return suc as taxes a business commission etc.and in bitcoin it is really hard because not all of the people knows bitcoin how it well be going to use or maybe gain from it.

BunnyShibe

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Quote from: jamids on September 20, 2017, 04:30:31 AM

Quote from: Sled on September 20, 2017, 03:29:43 AM

Indeed, even for us that bitcoin seems a popular currency and it is a great investment to put our money but for most of the people in the world, it is not an interested topic for them to buy bitcoin and consider it as a legit investment because for them, bitcoin is not worth it because of its fluctuations which is wrong and even bitcoin cannot replace the fiat money, it can still be adopt by a lot of people and the majority of the people in the world just need some orientation so they can learn and understand bitcoin.

It is still hard for bitcoin to replace fiat because many people don't even have access yet to the basic tools needed to transact using bitcoin. People need gadget, electricity and internet connection and there are so many people who have no access yet to this kind of necessities. In developing countries, some people don't even have electricity so it would be hard for them to transact using it. More possibility is that they don't even know about it so it would be kind of hard for bitcoin to replace fiat during this time.

The only option I can see for bitcoin now is treat it as a store of value along with precious metals and commodities as many are saying its kind of expensive to transact small value transactions so having it as an option for long term investment is a good way of using it. Maybe it cannot replace fiat but it will co-exist with it along with all other cryptocurrencies.

I agree with you that it is very hard for bitcoin to defeat fiat completely because mostly of world population are poor and illiterate. People of third world countries are still deprive from electricity and are still even seeking for food so how they can access to bitcoin even to understand bitcoin. Under-develop countries are also facing lake of electricity problem, lake of computer knowledge and facility of internet. So it is right that in near future bitcoin cannot replace fiat.

shone08

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Quote from: Asuka on September 21, 2017, 04:37:54 AM

Quote from: Jingjing12345 on September 21, 2017, 04:25:34 AM

Yes, it cannot replace fiat money because nowadays people are still using fiat money rather than bitcoin even though the bitcoin is already popular on many country. Still many people are not adjusted to bitcoin because when buying a foods or materials it is still easy to use fiat than to transact online with just small fees to pay. And also a kid or old person prefer fiat than bitcoin.

Bitcoin is famous, but not everyone uses it ,those peolpe only know the bitcoin can use it, and not all market can pay bitcoin,that is why we can not really replace the bitcoin in fiat.

But who knows what will happen in the future, we all know that Bitcoin have a bright future potential especially to the people that have not enough(lower) salary that need to earn an extra money. Your Idea was right and I respect it, now its hard for Bitcoin to replace the Fiat even if famous now because you cannot force people to use bitcoin, there's a lot of people have not access or know bitcoin and the price are volatility but I believe in bitcoin potential. Cheesy

Nascor

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Bitcoin specifically will hardly ever replace FIAT

maybe FIAT will be converted to digital tokens/coins/assets and be distributed according to each person's holdings

Asuka

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Quote from: Jingjing12345 on September 21, 2017, 04:25:34 AM

Yes, it cannot replace fiat money because nowadays people are still using fiat money rather than bitcoin even though the bitcoin is already popular on many country. Still many people are not adjusted to bitcoin because when buying a foods or materials it is still easy to use fiat than to transact online with just small fees to pay. And also a kid or old person prefer fiat than bitcoin.

Bitcoin is famous, but not everyone uses it ,those peolpe only know the bitcoin can use it, and not all market can pay bitcoin,that is why we can not really replace the bitcoin in fiat.

Jingjing12345

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Yes, it cannot replace fiat money because nowadays people are still using fiat money rather than bitcoin even though the bitcoin is already popular on many country. Still many people are not adjusted to bitcoin because when buying a foods or materials it is still easy to use fiat than to transact online with just small fees to pay. And also a kid or old person prefer fiat than bitcoin.

Therly

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While it is correct that a single of the most important motivations to build this alternate currency was to conquer the fiat hegemony, actually it seems a quite much and practically unrealistic likelihood.I actually hope that the foreseeable future economic relations count on more humanistic possibilities alternatively of these existing speculative and marketplace dependent currencies, included bitcoin.

chickenado

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Quote from: jamids on September 20, 2017, 04:30:31 AM

Quote from: Sled on September 20, 2017, 03:29:43 AM

Indeed, even for us that bitcoin seems a popular currency and it is a great investment to put our money but for most of the people in the world, it is not an interested topic for them to buy bitcoin and consider it as a legit investment because for them, bitcoin is not worth it because of its fluctuations which is wrong and even bitcoin cannot replace the fiat money, it can still be adopt by a lot of people and the majority of the people in the world just need some orientation so they can learn and understand bitcoin.

It is still hard for bitcoin to replace fiat because many people don't even have access yet to the basic tools needed to transact using bitcoin. People need gadget, electricity and internet connection and there are so many people who have no access yet to this kind of necessities. In developing countries, some people don't even have electricity so it would be hard for them to transact using it. More possibility is that they don't even know about it so it would be kind of hard for bitcoin to replace fiat during this time.

The only option I can see for bitcoin now is treat it as a store of value along with precious metals and commodities as many are saying its kind of expensive to transact small value transactions so having it as an option for long term investment is a good way of using it. Maybe it cannot replace fiat but it will co-exist with it along with all other cryptocurrencies.

I would strongly agree that it will not replace fiat because for now while it's currency behavior been always volatile, there's no reason to replace fiat at all. But if ever there's a possibility that the government will adopt this currency, I guess it will become stable of it's price value which merely beats fiat money and people will patronized the usage of digital currency.

Glorious04

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Quote from: Parazyd on December 23, 2015, 09:54:15 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.

No. Not at all. If it could be then i think it will bring complications in a lot of areas of our lives. For example you want to give a gift to someone or a tip how are you going to give a simple tip to a waiter for example? Or give your children daily allowance in school. To buy some sandwich and drinks in the canteen, will it be an advantage for a busy cafeteria or canteen to accept crypto as payments? I can still imagine of different instances in our daily living in which bitcoin is not too practical to use.

bitbob82

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Quote from: Chanock on September 20, 2017, 06:56:15 AM

We all know that bitcoin cannot replace fiat even it is now used in different transaction in digital world. There are times that we need fiat in our daily routine and bitcoin cannot fulfill it and only fiat can fulfill. Example you buy a soap in store, paying in bus and other transaction did not know bitcoin. Only fiat can resolve that kind of transaction.

yes it is not so easy as we are thinking about it. i think it will take a lot of time, it can only be possible when all the people of the world will start using bitcoin and i think still not more that 2 % people are using it, i think it will take more than half century when all the people of the world start using bitcoin, and only then we can think about using bitcoin by all the people of the world.

Conevesses1976

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No even if all individuals using bitcoin they cant substitute fiat. What if all folks employing bitcoin and we don't have fiat what are we making use of? Bitcoin?. If Bitcoin is our fiat How we can transfer the bitcoin if we do not have web? We never have electrical power?. Bitcoin cant exchange fiat even if bitcoin is famous or even if all folks in the planet are using bitcoin.

Palmerson

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Quote from: Chanock on September 20, 2017, 06:56:15 AM

We all know that bitcoin cannot replace fiat even it is now used in different transaction in digital world. There are times that we need fiat in our daily routine and bitcoin cannot fulfill it and only fiat can fulfill. Example you buy a soap in store, paying in bus and other transaction did not know bitcoin. Only fiat can resolve that kind of transaction.

Any currency is the blood of economy. Bitcoin didn't become a full-fledged currency so at the moment there is no economy of bitcoin. This means that for the life of the world need the Fiat. Under such circumstances, bitcoin will never replace Fiat.

palensya

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Quote from: Parazyd on December 23, 2015, 09:54:15 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 as of the moment Bitcoin cannot replace fiat money because most of us still using fiat money in all transaction that we are up to. Bitcoin in our possession is converted as well into fiat for as to be able to use it. Maybe in the next coming years when the countries and people around the world accepted bitcoin.

Chanock

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We all know that bitcoin cannot replace fiat even it is now used in different transaction in digital world. There are times that we need fiat in our daily routine and bitcoin cannot fulfill it and only fiat can fulfill. Example you buy a soap in store, paying in bus and other transaction did not know bitcoin. Only fiat can resolve that kind of transaction.

Celsiuss

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Quote from: Parazyd on December 23, 2015, 09:54:15 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've been trying to explain this many times, some people think that bitcoin can replace fiat in the entire world in the future, it cannot. Bitcoin will always be what I like to call, a secondary or alternative asset. It won't replace anything.

jamids

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Quote from: Sled on September 20, 2017, 03:29:43 AM

Indeed, even for us that bitcoin seems a popular currency and it is a great investment to put our money but for most of the people in the world, it is not an interested topic for them to buy bitcoin and consider it as a legit investment because for them, bitcoin is not worth it because of its fluctuations which is wrong and even bitcoin cannot replace the fiat money, it can still be adopt by a lot of people and the majority of the people in the world just need some orientation so they can learn and understand bitcoin.

It is still hard for bitcoin to replace fiat because many people don't even have access yet to the basic tools needed to transact using bitcoin. People need gadget, electricity and internet connection and there are so many people who have no access yet to this kind of necessities. In developing countries, some people don't even have electricity so it would be hard for them to transact using it. More possibility is that they don't even know about it so it would be kind of hard for bitcoin to replace fiat during this time.

The only option I can see for bitcoin now is treat it as a store of value along with precious metals and commodities as many are saying its kind of expensive to transact small value transactions so having it as an option for long term investment is a good way of using it. Maybe it cannot replace fiat but it will co-exist with it along with all other cryptocurrencies.

Yanisumin

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Quote from: taxmanmt5 on March 25, 2017, 04:24:52 AM

Quote from: bistrobit on March 24, 2017, 05:31:23 PM

Quote from: whizter on March 24, 2017, 05:16:16 PM

Quote from: Konthol Ngaceng on March 23, 2017, 05:05:07 AM

Yes true, currently bitcoin is the best investment because the users is increased so the price will increase, but I agree that bitcoin is never change or replace fiat money, because the government will protect fiat money.

in fact in present condition bitcoin is not in position to replace fiat, because majority of people are still using fiat as their main currency therefore i do not think that is possible in next some decades to replace fiat.

you never know when it happens,they will just announce it suddenly,like they do when happens hyper inflation,so keep bitcoin till that time,it will help you retire wisely and soon Grin

We just need to keep fighting for it. We do not know what will happen tomorrow, government might bump their minds that bitcoin can really help the entire country so they gonna use it as primary currency, though it takes time to happen and need more studies but who knows.

It is already happening and it already shake the crypto world in the last weeks. We still don't know how long we are going to wait in order for this to be accepted as a currency of many countries, but right now Im not seeing this. Bitcoin can be used as a reserve for the time being but as a everyday medium for transactions> ? Some countries cant still provide the necessary tools, internet connections and the people of the third world can't afford this. Lets just enjoy this for the long haul. I will patiently wait as cryptocurrencies take down the current monetary system.

Hamstead

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Quote from: lllaqpt on August 27, 2017, 06:39:47 AM

The banking system that began to be built by the most influential people in the world simply will not allow bitcoin to oust conventional money. He either will exist with the usual money, or he will be destroyed.

Most bank owners are aware already about bitcoin existence, and probably they plan ways to fight against bitcoin strike. They are totally afraid of losing their assets if bitcoin is regularly used by the people around. That's why the government also make a step on it, so that they can gain benefits from bitcoin.

Topic: Bitcoin can not replace fiat - page 43. (Read 163801 times)