Topic: Bitcoin can not replace fiat - page 62. (Read 163791 times)
In the first place, Bitcoin was not designed to be a replacement for the fiat currencies, rather the idea behind it was to address the many anomalies surrounding government issued money and then pointing the way forward for the future of money. In the long run, fiat currencies are likely to get modified but replacement is simply not in the offing, because the governments would never support anything that robs or limit its power, which is one thing Bitcoin has the potential of doing.
Actually you are right with your statement. Why complicate things when Fiat can handle all of the transactions done. With Bitcoin as a currency you will add up extra time in finding stores that accept, converting your fiat to Bitcoin, and also waiting time for the transaction to be confirmed. With Fiat everything can be an instant and hassle free.
As quoted with fiat everything is hassle free and easy to use and have lots of availability than bitcoin. Bitcoin as an alternate have emerged to help a step ahead by its anonymous nature which helps escape taxation for what we've earned and what we've spend. We can justify the advantages of bitcoin over fiat but fiat won't get replaced by bitcoin.
Someday I'm sure that fiat will replace bitcoin money, it is because of the influence of the global economy, when many people can receive bitcoin, surely it will beat the fiat money.
I don't think so. Bitcoin cant replace any fiat currency we considered that some countries are banning and regulating Bitcoin.Bitcoin is a alternative crypto currency that we can use in buying goods and we can exchange it to some fiat currency.
Someday I'm sure that fiat will replace bitcoin money, it is because of the influence of the global economy, when many people can receive bitcoin, surely it will beat the fiat money.
I don't think so. Bitcoin cant replace any fiat currency we considered that some countries are banning and regulating Bitcoin.Bitcoin is a alternative crypto currency that we can use in buying goods and we can exchange it to some fiat currency.
Someday I'm sure that fiat will replace bitcoin money, it is because of the influence of the global economy, when many people can receive bitcoin, surely it will beat the fiat money.
Bitcoin has no such support as fiat currency, we are talking about trilions of dollars, while bitcoin is at bilions, its far away to get close even gold market. Bitcoin wont replace anything it can be used as store of value, like gold, but hasnt power to replace anything, some services may fail or loose costumers as WU but in the end this wont damage enought to make they close doors, bitcoin need to improve a lot till be able to replace anything if it will do that someday
It is not about crowding out fiat completely
In the sense when some government totally abandons their national currency in favor of Bitcoin (though we can't exclude such a possibility entirely in the future). It is more about taking place of fiat which mediates a certain part of trade turnover. And if we consider the question in this way, it is certainly possible and likely we are already there (though the use of Bitcoin as a means of exchange is still minuscule of course). In other words, it is a matter of degree, not of kind
Actually you are right with your statement. Why complicate things when Fiat can handle all of the transactions done. With Bitcoin as a currency you will add up extra time in finding stores that accept, converting your fiat to Bitcoin, and also waiting time for the transaction to be confirmed. With Fiat everything can be an instant and hassle free.
you know, people are too stingy to pay for the fee although they do not have to pay the tax why using Bitcoin. Increasing the transaction fee will solve all the problems. If you do not want to wait, just increase it and you will satisfy with your decision. Segwit is also very useful. However, miners deny using this feature since they believe that Segwit will reduce the amount of fee they can have per transaction
Surely, I'm sure until whenever bitcoin can not replace a fiat money. This is because fiat money is the currency of the country so that the State had complete control of fiat money.
Government will not even take a risk for changing LR replacing the fiat money with bitcoin. We know that it is decentralized and its control cannot be done easily by a country. And whether a country will change their fiat to bitcoin they can be manipulated by whales and their economy can be ruined.And this does not mean that Bitcoin will replace fiat. This means Bitcoin being alternative currency far from the government control. It needs a government's approval if a certain currency will be use as the main one to replace the current currency and I do not see being approved as that.
Bitcoin is curently not supported by any of the governments, it is not considered to be a legal tender and that's one of the reasons that bitcoin at his current state will never become a replacement to fiat.
Actually you are right with your statement. Why complicate things when Fiat can handle all of the transactions done. With Bitcoin as a currency you will add up extra time in finding stores that accept, converting your fiat to Bitcoin, and also waiting time for the transaction to be confirmed. With Fiat everything can be an instant and hassle free.
you know, people are too stingy to pay for the fee although they do not have to pay the tax why using Bitcoin. Increasing the transaction fee will solve all the problems. If you do not want to wait, just increase it and you will satisfy with your decision. Segwit is also very useful. However, miners deny using this feature since they believe that Segwit will reduce the amount of fee they can have per transaction
Actually you are right with your statement. Why complicate things when Fiat can handle all of the transactions done. With Bitcoin as a currency you will add up extra time in finding stores that accept, converting your fiat to Bitcoin, and also waiting time for the transaction to be confirmed. With Fiat everything can be an instant and hassle free.
Surely, I'm sure until whenever bitcoin can not replace a fiat money. This is because fiat money is the currency of the country so that the State had complete control of fiat money.
Government will not even take a risk for changing LR replacing the fiat money with bitcoin. We know that it is decentralized and its control cannot be done easily by a country. And whether a country will change their fiat to bitcoin they can be manipulated by whales and their economy can be ruined.And this does not mean that Bitcoin will replace fiat. This means Bitcoin being alternative currency far from the government control. It needs a government's approval if a certain currency will be use as the main one to replace the current currency and I do not see being approved as that.
Bitcoin is curently not supported by any of the governments, it is not considered to be a legal tender and that's one of the reasons that bitcoin at his current state will never become a replacement to fiat.
Surely, I'm sure until whenever bitcoin can not replace a fiat money. This is because fiat money is the currency of the country so that the State had complete control of fiat money.
Government will not even take a risk for changing LR replacing the fiat money with bitcoin. We know that it is decentralized and its control cannot be done easily by a country. And whether a country will change their fiat to bitcoin they can be manipulated by whales and their economy can be ruined.And this does not mean that Bitcoin will replace fiat. This means Bitcoin being alternative currency far from the government control. It needs a government's approval if a certain currency will be use as the main one to replace the current currency and I do not see being approved as that.
Bitcoin has no such support as fiat currency, we are talking about trilions of dollars, while bitcoin is at bilions, its far away to get close even gold market. Bitcoin wont replace anything it can be used as store of value, like gold, but hasnt power to replace anything, some services may fail or loose costumers as WU but in the end this wont damage enought to make they close doors, bitcoin need to improve a lot till be able to replace anything if it will do that someday.
Too early for think if the bitcoin will be replacing everything in the future. I mean just try to realise about some problem was existing on the bitcoin such as the scaling problem and others. Bitcoin is not ready for replacing anything as soon as possible. 
Fiat currency cannot be replaced with bitcoin because fiat currency price is not fluctuating and the price is stable and changes is not erratic. We all knew bitcoin is very profitable on investments but the whole world still not using it as a method of spending because of that reason that btc price is not stable of its price, sometimes it rises and may fall very low.
Fiat is surely a strong so it's not going to happen that bitcoin will ever replace fiat. But the good thing is that bitcoin can be considered as fiat.
We can use it actually for different transactions that we are going to do, buying of different goods and services that we wish to purchase.
The government does not want to give Bitcoin. Because it can not control cryptocurrency. The government will always support Fiat. Therefore, it will always exist
Bitcoin has no such support as fiat currency, we are talking about trilions of dollars, while bitcoin is at bilions, its far away to get close even gold market. Bitcoin wont replace anything it can be used as store of value, like gold, but hasnt power to replace anything, some services may fail or loose costumers as WU but in the end this wont damage enought to make they close doors, bitcoin need to improve a lot till be able to replace anything if it will do that someday.
The digital economy is ruled by Bitcoin. With the recent news financial journalists and analysts, economists, and investors have attempted to predict the possible future value of bitcoin. The "death" of bitcoin has been proclaimed numerous times. Some economists have responded positively to bitcoin while others have expressed skepticism. Recent bitcoin developments have been drawing the interest of more financially savvy politicians and legislators as a result of bitcoin's capability to eradicate fraud, simplify transactions, and provide transparency, when bitcoins are properly utilized.
Some people would always say that bitcoin will not last in the future as this will only be use massively for illegal activities and no use for the humanity in good ways, I don't agree with that, before they say they should know first and experience using bitcoin in their lives. Every people has different perception on bitcoin now and that perception will make them decide to speculate the future.
In my own understanding with the information and read and analyze, I believe the development will continue and more progressive in the future, as to how progressive it is, it cannot be measure as it primarily relies on how we accept bitcoin..
The digital economy is ruled by Bitcoin. With the recent news financial journalists and analysts, economists, and investors have attempted to predict the possible future value of bitcoin. The "death" of bitcoin has been proclaimed numerous times. Some economists have responded positively to bitcoin while others have expressed skepticism. Recent bitcoin developments have been drawing the interest of more financially savvy politicians and legislators as a result of bitcoin's capability to eradicate fraud, simplify transactions, and provide transparency, when bitcoins are properly utilized.
Surely, I'm sure until whenever bitcoin can not replace a fiat money. This is because fiat money is the currency of the country so that the State had complete control of fiat money.
Government will not even take a risk for changing LR replacing the fiat money with bitcoin. We know that it is decentralized and its control cannot be done easily by a country. And whether a country will change their fiat to bitcoin they can be manipulated by whales and their economy can be ruined.That is if people around the world would prefer to use btc. As we all know a lot is rrquired to use btc and not all people can meet thiae requirements. So i think there's only one realistic answer to this question and that is no. Btc may thrive in the long run and may be widely used but it won't replace fiat
Knowledge is the only the thing required to use bitcoin or money if you want to invest.
It wont replace fiat yet. Not now, parts of the world are not modernize yet. There are people who lives in the street and are just counting on fiat. This will be a big change if ever they want to make it happen and that is the thing that requires a lot including, putting in their law.
Surely, I'm sure until whenever bitcoin can not replace a fiat money. This is because fiat money is the currency of the country so that the State had complete control of fiat money.
Government will not even take a risk for changing LR replacing the fiat money with bitcoin. We know that it is decentralized and its control cannot be done easily by a country. And whether a country will change their fiat to bitcoin they can be manipulated by whales and their economy can be ruined.That is if people around the world would prefer to use btc. As we all know a lot is rrquired to use btc and not all people can meet thiae requirements. So i think there's only one realistic answer to this question and that is no. Btc may thrive in the long run and may be widely used but it won't replace fiat
Surely, I'm sure until whenever bitcoin can not replace a fiat money. This is because fiat money is the currency of the country so that the State had complete control of fiat money.
Government will not even take a risk for changing LR replacing the fiat money with bitcoin. We know that it is decentralized and its control cannot be done easily by a country. And whether a country will change their fiat to bitcoin they can be manipulated by whales and their economy can be ruined.Jump to: