Topic: Bitcoin can not replace fiat - page 6. (Read 163806 times)
Perhaps not immediately, but in the near future it will surely be possible to replace fiat with bitcoin
Of course, bitcoin will not replace the usual money, at least because it has not yet been legalized in most countries. I see it as an investment, not a means of payment.
As we know that fiat is the most quick and easiest way form of a medium of exchange in a developing country particularly in a society with still living in a past or like behind in most of technology with respect to the people living on that society, so its hard for them to use bitcoin or any electronics money. But the world is full of changes especially its technology, so still there is possibility that in the near future the crypto currency will replace fiat. Of course, bitcoin will not replace the usual money, at least because it has not yet been legalized in most countries. I see it as an investment, not a means of payment.
Yes, bitcoin will not replace the usual money but there is a possibility that bitcoin would be one of the most useful currency that could be used all over the world. Although it is still far from the true situation today but still the possibility is quite high since we aim for a better innovation.
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.
As of today, there is no chance for bitcoins to replace fiat since there are a lot of government who are complaining about it but cryptocurrency do really have the potential to replace fiat in the future because of the growth today in the market that is running very fast.
I doubt it would be bitcoin that can replace fiat. But for me I really think fiat money will get replaced by a crypto currency in the future. If nations wanted a world currency that cannot be influenced by powerful countries like US and China then a decentralized crypto is a good option.
Bitcoin is a crypto currency and its different from fiat money and i believe that bitcoin can't replace fiat money because paper money is already been used by the people since the beginning and they are familiar with it and easy to use anywhere while crypto currency can be used with the help of internet.
It can't and it won't. Bitcoin was never intended for something like that, the creator made bitcoin to solve and not replace.
It may hold that much potential, but if bitcoins or people ever cross the line and use bitcoins for that purpose, it's just gonna
make things harder. Fiat is disruptively the standard monetary system our species may recognize and depended on for as long
as we can remember. Bitcoin serves as a solution to some of fiats problems in terms of remittance and transactions over the
internet. If fiat wasn't around, Bitcoin's wouldn't have been invented either. Bitcoins need fiat to function and prosper, as we
need both of them in today's financial markets and economy.
It may hold that much potential, but if bitcoins or people ever cross the line and use bitcoins for that purpose, it's just gonna
make things harder. Fiat is disruptively the standard monetary system our species may recognize and depended on for as long
as we can remember. Bitcoin serves as a solution to some of fiats problems in terms of remittance and transactions over the
internet. If fiat wasn't around, Bitcoin's wouldn't have been invented either. Bitcoins need fiat to function and prosper, as we
need both of them in today's financial markets and economy.
Bitcoins is a decentralized crypto currency backed by fiat currencies, bitcoins or any other crypto currency will not replace fiat currencies but there are chances for the government or the central banking system to adopt this bitcoin and blockchain technology instead of fiat currencies due to various advantages of bitcoin and blockchain network and more bitcoin user's are entering the market which naturally increases the value of bitcoins. Another feature which attracts more user's to the bitcoin network is that bitcoins gives a sense of financial freedom unlike fiat currencies which is controlled by the banks.
Bitcoin can not replace fiat money because many goverment restricting it. If goverment issueing regulation, they regulating on bitcoin as investment instrument. Beside that, need mass adoption to people about bitcoin and its need a lot efforts
That's good because bitcoin never wanted to replace fiat, only become an alternative
Yes and that's what the creator wanted bitcoin to be. Just to make our lives easier in terms of payment for goods and services. On top of that, bitcoin has a disadvantage that fiat don't have because you can't use bitcoin when you are not connected to the internet.
That's good because bitcoin never wanted to replace fiat, only become an alternative
First let us consider places without internet connections. what would they use to buy things they needed of tjey dont acquire bitcoins, second considering there are internet connections worldwide how about phones or gadgets use to hain bitcoins. It is really difficult to replace fiat. even movie makers that produces futuristic movies didnt even remove fiat in scenes.
maybe we could first make it available for everybody, one thing that should be considered first.
maybe we could first make it available for everybody, one thing that should be considered first.
In some another countries, bitcoin might can replace fiat money as their new currency especially those countries who are already accepting or started using bitcoins in their day to day expenses. But here in the Philippines, in my point of view, I think it can't replace in terms of physical aspect or as paper money.
Fiat protected by government and they will never let decentralized coin replace their national currency. Anyway bitcoin gonna become global currency someday.
fiat is indeed in the shade of the governance system so it can or rather is allowed by the government but if bitcoin will not ever be able to manage it because of the nature of the bitcoin itself but it is so global
Fiat protected by government and they will never let decentralized coin replace their national currency. Anyway bitcoin gonna become global currency someday.
The purpose of bitcoin is not to replace fiat, but to be a digital commodity that makes life for all human beings better and better, try to compare sending $ 10 to another country with banks, surely shipping costs more than $ 10, but with bitcoin cost no more than 50 cents.
I think bitcoin could be a means of payment because bitcoin has a nominal price. But in the present day in every country not yet allow bitcoin as exchange rate of goods because according to existing rules of currency must be real and approved by law which applies in every country. Future developments in my opinion bitcoin can be a means of payment because in the future all paced digital
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 world is full of possibilities, bitcoin has a chance to replace the fiat money. The future money is in our hands, if the people will continue to patronize digital currencies; there is big possibilities that the bitcoin will replace fiat. 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 am sure Bitcoin can not replace FIAT even with any reason or the value of Bitcoin raise to 1 million dollar.
The Bitcoin value and its system are the factor to make it should becomes an asset for investment like Gold than use for payment like FIAT.
The technology of bitcoin really is great. It is superior to the fiat. however, for practical application it is not simple at all. By simple state does not manage it!
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.
It is very imposible that fiat money will be replace by bitcoin or any altcoin, because this is already part of our culture, maybe all electronic money like credit card and debit card will be absorbed by crypto, since this is also electronic in nature.
We always need fiat money to be used in countryside villages.
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