Topic: Bitcoin can not replace fiat - page 50. (Read 163791 times)
Bitcoin can not replace fiat because fiat is very powerful and it is government supported so it will be hard for bitcoin to do defeat fiat. It is just good for bitcoin to not replace fiat because it will not succeed and it will just lose some time trying to do that. Skip doing that and focus on other helpful things rather than defeating or replacing fiat.
Yes. Bitcoin will cann't be able to replace fiat.
Because bitcoin is 'something' that is anonymous. different from fiat.
Yes agree with you mate, this two currency is different, bitcoin is digital currency and can be used in online transaction and not government regulated while fiat is centralized currency which all people can used this currency anywhere we want. Because bitcoin is 'something' that is anonymous. different from fiat.
is bitcoin meant to replace fiat currency? or is it here to be a different option payment next to the fiat. it's hardly possible that btc will replace fiat due to the fact that fiat is controlled by big banks and governments, therefore is those two groups don't invest in bitcoin or make some options for it, it's hardly gonna happen.
Maybe in the distant future but that will also require banks to accept it, so i don't think thats gonna happen. i mean, it can replace fiat in asome small countries or some smaller local caffes and stores but entirely to replace it, no.
Maybe in the distant future but that will also require banks to accept it, so i don't think thats gonna happen. i mean, it can replace fiat in asome small countries or some smaller local caffes and stores but entirely to replace it, no.
Yes. Bitcoin will cann't be able to replace fiat.
Because bitcoin is 'something' that is anonymous. different from fiat.
Because bitcoin is 'something' that is anonymous. different from fiat.
Ofcourse it will never ever ever replace fiat currencies.Why?simple because without fiat there is no bitcoins so bitcoin cannot stand alone i think even tho it is very well knowned by this date.And another reason is government will block bitcoins ofcourse if it becames a threat in government based financial system
The contrary is very well known
The simple fact that Bitcoin is traded for a lot of fiat currencies should you already warn you that your claim doesn't have a lot of footing to stand on. If there is no more fiat around one wonderful morning, people will just start using Bitcoin directly as a means of payment, i.e. as it was conceived right from the start, as a currency in and of itself which can stand on its own and which doesn't need any fiat as a crutch. In fact, it would be even better without any fiat sticking around. But I'm still curious if it is your misconception which you just claim to be a "well-known fact" or you got from someone or somewhere
Ofcourse it will never ever ever replace fiat currencies.Why?simple because without fiat there is no bitcoins so bitcoin cannot stand alone i think even tho it is very well knowned by this date.And another reason is government will block bitcoins ofcourse if it becames a threat in government based financial system
Yah. This is just like altcoins and bitcoin. We cannot determine the value of altcoins without bitcoin at the same time we cannot determine the value of
bitcoin without fiat. There are many predictions about bitcoin replacing fiat and the age of cashless society will then begin which is not impossible
however remember that there are many problems that will surface from that because we are altering the way we use money and the position of it in
our economics.
At least in this century fiat will not be replaced, but I can't be sure about what will happen in the next one. Since we will hardly live to XXII century we can state that fiat is here to stay forever. I personally see no problems with that. So far we do need fiat for many reasons, so let it be. )
Ofcourse it will never ever ever replace fiat currencies.Why?simple because without fiat there is no bitcoins so bitcoin cannot stand alone i think even tho it is very well knowned by this date.And another reason is government will block bitcoins ofcourse if it becames a threat in government based financial system
Yah. This is just like altcoins and bitcoin. We cannot determine the value of altcoins without bitcoin at the same time we cannot determine the value of
bitcoin without fiat. There are many predictions about bitcoin replacing fiat and the age of cashless society will then begin which is not impossible
however remember that there are many problems that will surface from that because we are altering the way we use money and the position of it in
our economics.
Bitcoin is not going to replace fiat for most people but without a doubt there may be some bitcoin users out there that are not using fiat anymore and are only using bitcoin right now.
I don't think that it is possible only to use bitcoins as to take care of our expenses in real world we need fiat and bitcoin cannot be used anywhere for buying anything so in that case we have convert our bitcoins to fiat currency so that we can use them for shopping.
I agree with Barts, there are people I guess too that aren't using fiat anymore but instead using bitcoin for paying everything they need, expenses for bills and shopping online with the use of bitcoin and with the help of exchange that they are using. But it doesn't mean that it will replace fiat generally, it is only applicable for them.
But there are very few people who are aware about the bitcoins yet and those who are using bitcoins will also prefer to use credit or debit card for shopping or fiat as their main intention is to save their bitcoins for the future without spending them at a moment.
We are pointing out those people that are already into using of bitcoin completely, there will be users that are going to keep on using credit and debit card or even fiat for buying things that they need. And it's a normal thing that most of us are keep on holding our bitcoins for the hope that this is going to give us good future.
Ofcourse it will never ever ever replace fiat currencies.Why?simple because without fiat there is no bitcoins so bitcoin cannot stand alone i think even tho it is very well knowned by this date.And another reason is government will block bitcoins ofcourse if it becames a threat in government based financial system
Bitcoin is not going to replace fiat for most people but without a doubt there may be some bitcoin users out there that are not using fiat anymore and are only using bitcoin right now.
I don't think that it is possible only to use bitcoins as to take care of our expenses in real world we need fiat and bitcoin cannot be used anywhere for buying anything so in that case we have convert our bitcoins to fiat currency so that we can use them for shopping.
Even if people know about Bitcoin it is simply too hard to use. Couple that with the current costs and small transactions are almost a joke.
I've done 100's, maybe more than a 1000 successful Bitcoin transactions and I still got caught by the raising transaction fees. My wallet ended up only putting 50 satoshi per byte and now I'll have to wait a couple more days for the network to forget about that transaction. Currently one has to use something like https://bitcoinfees.21.co/ to figure out what to try and set for a transaction fee. Even then one has to know about a wallet details. While a lot of that can be fixed with a better wallet people will have to know about it.
Finally even when you do get a successful transaction, the cost is currently running 0.4 mBTC, or about $0.48 USD. Seriously expensive for something like a small store purchase. While that cost probably will go down, it could also go up. So Bitcoin has lost a major advantage over credit cards for small purchases.
I've done 100's, maybe more than a 1000 successful Bitcoin transactions and I still got caught by the raising transaction fees. My wallet ended up only putting 50 satoshi per byte and now I'll have to wait a couple more days for the network to forget about that transaction. Currently one has to use something like https://bitcoinfees.21.co/ to figure out what to try and set for a transaction fee. Even then one has to know about a wallet details. While a lot of that can be fixed with a better wallet people will have to know about it.
Finally even when you do get a successful transaction, the cost is currently running 0.4 mBTC, or about $0.48 USD. Seriously expensive for something like a small store purchase. While that cost probably will go down, it could also go up. So Bitcoin has lost a major advantage over credit cards for small purchases.
Bitcoin is not going to replace fiat for most people but without a doubt there may be some bitcoin users out there that are not using fiat anymore and are only using bitcoin right now.
I don't think that it is possible only to use bitcoins as to take care of our expenses in real world we need fiat and bitcoin cannot be used anywhere for buying anything so in that case we have convert our bitcoins to fiat currency so that we can use them for shopping.
I agree with Barts, there are people I guess too that aren't using fiat anymore but instead using bitcoin for paying everything they need, expenses for bills and shopping online with the use of bitcoin and with the help of exchange that they are using. But it doesn't mean that it will replace fiat generally, it is only applicable for them.
But there are very few people who are aware about the bitcoins yet and those who are using bitcoins will also prefer to use credit or debit card for shopping or fiat as their main intention is to save their bitcoins for the future without spending them at a moment.
Bitcoin is not going to replace fiat for most people but without a doubt there may be some bitcoin users out there that are not using fiat anymore and are only using bitcoin right now.
I don't think that it is possible only to use bitcoins as to take care of our expenses in real world we need fiat and bitcoin cannot be used anywhere for buying anything so in that case we have convert our bitcoins to fiat currency so that we can use them for shopping.
Everyone thinks that it is easy but really not only for that reason but also because of the time it takes for confirmations and the fact that since its a crypto-currency it is possible to have security issues.
like where can while having bitcoin?
Bitcoin is not going to replace fiat for most people but without a doubt there may be some bitcoin users out there that are not using fiat anymore and are only using bitcoin right now.
I don't think that it is possible only to use bitcoins as to take care of our expenses in real world we need fiat and bitcoin cannot be used anywhere for buying anything so in that case we have convert our bitcoins to fiat currency so that we can use them for shopping.
I agree with Barts, there are people I guess too that aren't using fiat anymore but instead using bitcoin for paying everything they need, expenses for bills and shopping online with the use of bitcoin and with the help of exchange that they are using. But it doesn't mean that it will replace fiat generally, it is only applicable for them.
Bitcoin field-tested in Japan:
https://www.youtube.com/watch?v=qbNG66nQdqA
Quite good. Could be better with NFC activated wallets and maybe a cheaper/faster coin like Litecoin or PIVX.
https://www.youtube.com/watch?v=qbNG66nQdqA
Quite good. Could be better with NFC activated wallets and maybe a cheaper/faster coin like Litecoin or PIVX.
Bitcoin is not going to replace fiat for most people but without a doubt there may be some bitcoin users out there that are not using fiat anymore and are only using bitcoin right now.
I don't think that it is possible only to use bitcoins as to take care of our expenses in real world we need fiat and bitcoin cannot be used anywhere for buying anything so in that case we have convert our bitcoins to fiat currency so that we can use them for shopping.
He did not say bitcoin is not so much developed, you said it yourself. And I think there are more than 1% now, many people are been using bitcoin especially when it is a news being accepted in Japan. If all of the people in Japan accepted bitcoin it will be great, making the price pump.
Bitcoin is not going to replace fiat for most people but without a doubt there may be some bitcoin users out there that are not using fiat anymore and are only using bitcoin right now.
I don't think that it is possible only to use bitcoins as to take care of our expenses in real world we need fiat and bitcoin cannot be used anywhere for buying anything so in that case we have convert our bitcoins to fiat currency so that we can use them for shopping.
He did not say bitcoin is not so much developed, you said it yourself. And I think there are more than 1% now, many people are been using bitcoin especially when it is a news being accepted in Japan. If all of the people in Japan accepted bitcoin it will be great, making the price pump.
Bitcoin is not going to replace fiat for most people but without a doubt there may be some bitcoin users out there that are not using fiat anymore and are only using bitcoin right now.
I don't think that it is possible only to use bitcoins as to take care of our expenses in real world we need fiat and bitcoin cannot be used anywhere for buying anything so in that case we have convert our bitcoins to fiat currency so that we can use them for shopping.
Bitcoin is not going to replace fiat for most people but without a doubt there may be some bitcoin users out there that are not using fiat anymore and are only using bitcoin right now.
I don't think that it is possible only to use bitcoins as to take care of our expenses in real world we need fiat and bitcoin cannot be used anywhere for buying anything so in that case we have convert our bitcoins to fiat currency so that we can use them for shopping.
Bitcoin being physical is something which could never gonna happen. It is all against Bitcoin motive. How would you distinguish Bitcoin from cash, how would it provide you anonymity and most important how it gonna managed!!
If something like that happened, Bitcoin will fall in the hand of big boss (government) and we again become prey to these predators.
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