Bitcoin can not replace fiat - page 64.

Finestream

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Quote from: asriloni on February 16, 2017, 10:46:46 PM

Quote from: virasog on February 13, 2017, 04:08:53 AM

Quote from: asriloni on February 12, 2017, 08:33:50 PM

Quote from: blackhawkeye1912 on February 12, 2017, 01:40:43 PM

Bitcoin cannot replace fiat, Fiat has been established their community for several years. Nowadays not all people are favor in Bitcoin on the contrary, not all people are not favor in fiat also even they don't have any knowledge in bitcoin.

Everybody in here knows about the fiat currency and bitcoin. but the possibilities of bitcoin to replace fiat isn't exist. The digital world is the correct place for bitcoin rather than use it in our daily life. although it can go with confirming a thousand transactions for a block.

But i think it doesn't matter if everyone know or not know about bitcoin. Because matter is that bitcoin can't replace to any other fiat currency, Because no one government accept bitcoin to replace his own nation currency, and if bitcoin marge into fiat than the question will be come Why and What matter to create the bitcoin? I think bitcoin could finish but it has no need to replace to another fiat currency. But i agree with you, digital world is right place of the bitcoin, bitcoin don't need fiat.

Bitcoin is the fiat complement, And it's a good alternative to replace the fiat in the digital world. No one will accepting it because it was opposite with the government's regulation. But bitcoin still can have the special permission.

No question that bitcoin is good but with government regulation, it will be hard for us bitcoin users to disobey the law, we will have to sacrifice not being anonymous as money laundering is the main concern of the government. The more we have funds in bitcoin, the more we get suspected and by the moment we cash it out, we will have to explain how do we obtain such big amount.

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Quote from: virasog on February 13, 2017, 04:08:53 AM

Quote from: asriloni on February 12, 2017, 08:33:50 PM

Quote from: blackhawkeye1912 on February 12, 2017, 01:40:43 PM

Bitcoin cannot replace fiat, Fiat has been established their community for several years. Nowadays not all people are favor in Bitcoin on the contrary, not all people are not favor in fiat also even they don't have any knowledge in bitcoin.

Everybody in here knows about the fiat currency and bitcoin. but the possibilities of bitcoin to replace fiat isn't exist. The digital world is the correct place for bitcoin rather than use it in our daily life. although it can go with confirming a thousand transactions for a block.

But i think it doesn't matter if everyone know or not know about bitcoin. Because matter is that bitcoin can't replace to any other fiat currency, Because no one government accept bitcoin to replace his own nation currency, and if bitcoin marge into fiat than the question will be come Why and What matter to create the bitcoin? I think bitcoin could finish but it has no need to replace to another fiat currency. But i agree with you, digital world is right place of the bitcoin, bitcoin don't need fiat.

Bitcoin is the fiat complement, And it's a good alternative to replace the fiat in the digital world. No one will accepting it because it was opposite with the government's regulation. But bitcoin still can have the special permission.

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Quote from: Babayega31 on February 13, 2017, 05:45:26 AM

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.

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Bitcoin, in contrast to the euro or others currencies has no legal price, that it. No one is required to accept it as payment. Today mainly
the sites about online games, sale of computer equipment and Internet services, such as the host of World Press blogs accept it and it is still just a fews.. But it fulfills the three economic functions of money: Unit of account, it allows to measure the values (prices in bitcoins, on). Some e-commerce sites ntermediate trade, it allows to set the transactions; store of value, it can be stored (on a digital portfolio hosted on a computer, a tablet or a smartphone) for a future purchase.

Store of value doesn't mean whether or not the medium can be stored, it means that the medium itself (bitcoin in this case) stores the value assigned to it. This is the test that bitcoin fails. Storing value necessitates price stability. If you look at all failing currencies, none of them were literally worthless, they all had some value, so they were technically a store of value. But they were useless as a currency because there was no price stability. Dead currencies suffered under rapid inflation. Bitcoin doesn't have a one-way only trajectory; it swings in both directions, but the price movements make it just as useless as a currency, because you can't be reasonably certain that the value you put into it today will be the same in a week, let alone for the long periods of time that are required to have financial security.

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Quote from: MONKEYJUNK on February 13, 2017, 05:57:34 AM

However bitcoins users now are very big and bitcoin population are getting bigger and bigger now we are earning bitcoins from different things first is in signature campaign and trading now if we earn bitcoin what will gonna to trade it into fiat to use that in our daily needs and if fiat will dead then what we gonna use? Tbh we can't really use bitcoin for now in physical things.

They are big but not as big as fiat, also, signature campaign is not a factor to consider why bitcoin has attracted good adoption, there are business supporting bitcoin as they use it as their main payment system and signature campaign is just part of their advertising FYI.

Bitcoin will be more successful as more people trust it, we like the system as it is fast and transparent, and also, it can hide our identity so freedom is achieve.

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However bitcoins users now are very big and bitcoin population are getting bigger and bigger now we are earning bitcoins from different things first is in signature campaign and trading now if we earn bitcoin what will gonna to trade it into fiat to use that in our daily needs and if fiat will dead then what we gonna use? Tbh we can't really use bitcoin for now in physical things.

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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.

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Quote from: slapper on February 12, 2017, 10:58:29 AM

Quote from: Cashew on February 11, 2017, 09:37:14 AM

Of course it can not, and I think it has never been intented. For me will become the store of value of the world and the currency of the Internet.

I do think so. is very valuable on the internet which people can use to hide their identity and make fast transaction. If there is a chance for to replace Fiat, I believe that the world will be much better. But I doubt that the government will accept this Cryptos since it is too secure and decentralized

internet is not access able to all..... i think it is just an internet currency and if you thought about replacing fait money with it............ i think it can't be possible or fait money is different thing...... most of the people used bitcoin just for investment................

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Yes true, the fiat money was passed so that the country will continue to live up to at any time. bitcoin is indeed nice, but his weakness for use by the State is decentralized.

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Quote from: asriloni on February 12, 2017, 08:33:50 PM

Quote from: blackhawkeye1912 on February 12, 2017, 01:40:43 PM

Bitcoin cannot replace fiat, Fiat has been established their community for several years. Nowadays not all people are favor in Bitcoin on the contrary, not all people are not favor in fiat also even they don't have any knowledge in bitcoin.

Everybody in here knows about the fiat currency and bitcoin. but the possibilities of bitcoin to replace fiat isn't exist. The digital world is the correct place for bitcoin rather than use it in our daily life. although it can go with confirming a thousand transactions for a block.

But i think it doesn't matter if everyone know or not know about bitcoin. Because matter is that bitcoin can't replace to any other fiat currency, Because no one government accept bitcoin to replace his own nation currency, and if bitcoin marge into fiat than the question will be come Why and What matter to create the bitcoin? I think bitcoin could finish but it has no need to replace to another fiat currency. But i agree with you, digital world is right place of the bitcoin, bitcoin don't need fiat.

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Quote from: blackhawkeye1912 on February 12, 2017, 01:40:43 PM

Bitcoin cannot replace fiat, Fiat has been established their community for several years. Nowadays not all people are favor in Bitcoin on the contrary, not all people are not favor in fiat also even they don't have any knowledge in bitcoin.

Everybody in here knows about the fiat currency and bitcoin. but the possibilities of bitcoin to replace fiat isn't exist. The digital world is the correct place for bitcoin rather than use it in our daily life. although it can go with confirming a thousand transactions for a block.

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Quote from: clickerz on February 12, 2017, 07:27:21 PM

Quote from: error08 on February 12, 2017, 06:59:21 PM

Not all of citizens of the country are thinking the same thing as we do, in fact ever person has different point of view for something like this.
[1] People may think that fiat is an object to get daily needs as medium of exchange (nothing more, nothing less).
[2] Bitcoin as digital currency won't attract all of the people in the country, it just an alternative currency. Bitcoin cannot replace fiat in daily transaction because not all of them using bitcoin.

Only people who are frequently online and most of millennials fully understand the technicality of bitcoin. are not hook up yet and prefer the fiat currency because they used to it in daily lives. I think fiat will stay as it is and bitcoin serve as a No.1 alternative around the world.

I thought so bitcoin can not replace fiat because it only fiat used for daily needs and bitcoin currency would be the alternative. my opinion about the state does not accept bitcoin as a legitimate payment is appropriate because the government did not benefit from the bitcoin (financial)

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Quote from: error08 on February 12, 2017, 06:59:21 PM

Not all of citizens of the country are thinking the same thing as we do, in fact ever person has different point of view for something like this.
[1] People may think that fiat is an object to get daily needs as medium of exchange (nothing more, nothing less).
[2] Bitcoin as digital currency won't attract all of the people in the country, it just an alternative currency. Bitcoin cannot replace fiat in daily transaction because not all of them using bitcoin.

Only people who are frequently online and most of millennials fully understand the technicality of bitcoin. are not hook up yet and prefer the fiat currency because they used to it in daily lives. I think fiat will stay as it is and bitcoin serve as a No.1 alternative around the world.

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Quote from: Fatanut on February 11, 2017, 10:50:12 AM

Quote from: Cashew on February 11, 2017, 09:37:14 AM

Of course it can not, and I think it has never been intented[1]. For me Bitcoin will become the store of value of the world[2] and the currency of the Internet.

[1] It was created so people would be aware how foolish have they been for being controlled by the government for so long. Bitcoin is another option of a currency/property but in this new concept, the people are on their advantage and the government doesn't have any power.

[2] This contradicts to your idea that bitcoin cannot replace fiat. If bitcoin has become a way to store value of people around the world, then bitcoin has already become mainstream and it's either on the verge of replacing fiat or it has already replaced fiat.

Not all of citizens of the country are thinking the same thing as we do, in fact ever person has different point of view for something like this.
[1] People may think that fiat is an object to get daily needs as medium of exchange (nothing more, nothing less).
[2] Bitcoin as digital currency won't attract all of the people in the country, it just an alternative currency. Bitcoin cannot replace fiat in daily transaction because not all of them using bitcoin.

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Quote from: slapper on February 12, 2017, 10:58:29 AM

Quote from: Cashew on February 11, 2017, 09:37:14 AM

Of course it can not, and I think it has never been intented. For me Bitcoin will become the store of value of the world and the currency of the Internet.

I do think so. Bitcoin is very valuable on the internet which people can use to hide their identity and make fast transaction. If there is a chance for Bitcoin to replace Fiat, I believe that the world will be much better. But I doubt that the government will accept this Cryptos since it is too secure and decentralized

I think some governments will realize that the best thing to do is not to ban Bitcoin, as apart from being something that can help the economy, the decentralized way it works don't allows them to prevent users from using it.

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Quote from: slapper on February 12, 2017, 10:58:29 AM

Quote from: Cashew on February 11, 2017, 09:37:14 AM

Of course it can not, and I think it has never been intented. For me Bitcoin will become the store of value of the world and the currency of the Internet.

I do think so. Bitcoin is very valuable on the internet which people can use to hide their identity and make fast transaction. If there is a chance for Bitcoin to replace Fiat, I believe that the world will be much better. But I doubt that the government will accept this Cryptos since it is too secure and decentralized

yes that is a fact that currently bitcoin is playing a very important role providing online service, but it is not so much effective in local shops because the facilities of bitcoin to be use it in local shops are not available. i think the main reason is that the users of bitcoin are not more.

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Bitcoin cannot replace fiat, Fiat has been established their community for several years. Nowadays not all people are favor in Bitcoin on the contrary, not all people are not favor in fiat also even they don't have any knowledge in bitcoin.

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Quote from: Cashew on February 11, 2017, 09:37:14 AM

Of course it can not, and I think it has never been intented. For me Bitcoin will become the store of value of the world and the currency of the Internet.

I do think so. Bitcoin is very valuable on the internet which people can use to hide their identity and make fast transaction. If there is a chance for Bitcoin to replace Fiat, I believe that the world will be much better. But I doubt that the government will accept this Cryptos since it is too secure and decentralized

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Quote from: hardtime on February 11, 2017, 02:17:33 PM

I'd have to fully agree with you, I'm not a fan at all of all the people on here in this pretty small niche community that go ahead and say these few things, "Bitcoin is going to kill the banks" "Fiat will die when bitcoin rises" "Government will fall if bitcoin does.."

This is all really a bunch of horseshit and I really hope most people on here really don't believe half the shit that they spew on the forum here. It's dumb to even think that a government would ALLOW bitcoin to get to the point of taking over a FIAT currencies place in a country. Governments will adapt if they feel the need to and it would be profitable to them, that's the only way they'll change to the liking of the people on here

Sometimes things get out of hand and go awry

Almost every country had their government overthrown by a revolution or similar event at some point in their history. So there is absolutely no reason to think that something like that is not going to happen again in the future. Governments can be replaced, and ultimately, it is not a question of whether they allow "Bitcoin to get to the point of taking over a fiat currency". But we don't even need to get that far. Some governments via their own economic incompetence had to "willingly" abandon their national currencies in favor of a foreign one

I don't think I have to mention the fate of the Zimbabwean dollar here

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I'd have to fully agree with you, I'm not a fan at all of all the people on here in this pretty small niche community that go ahead and say these few things, "Bitcoin is going to kill the banks" "Fiat will die when bitcoin rises" "Government will fall if bitcoin does.."

This is all really a bunch of horseshit and I really hope most people on here really don't believe half the shit that they spew on the forum here. It's dumb to even think that a government would ALLOW bitcoin to get to the point of taking over a FIAT currencies place in a country. Governments will adapt if they feel the need to and it would be profitable to them, that's the only way they'll change to the liking of the people on here.

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