Bitcoin can not replace fiat - page 66.

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Quote from: dimonchik13 on February 11, 2017, 02:17:24 AM

Despite the fact that Fiat is supported by states and their laws, in contrast to the bitcoin world still heavily tied to real money. People will need them all the time.

Exactly. fiat covered most of the transaction in the world, and bitcoin is only a very small fraction of it. So it's really hard to turn away from fiat. With that said, bitcoin is not yet capable of replacing fiat.

Quote from: dimonchik13 on February 11, 2017, 02:17:24 AM

The fact is that the Bitcoin is money for a special caste of people, rather than for a wide Zaga.

That's right. But all are are welcome to use bitcoin.

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Quote from: dimonchik13 on February 11, 2017, 02:17:24 AM

Despite the fact that Fiat is supported by states and their laws, in contrast to the bitcoin world still heavily tied to real money. People will need them all the time. The fact is that the Bitcoin is money for a special caste of people, rather than for a wide Zaga.

The exposure of fiat is for wide coverage of population, while with bitcoin, we can only estimate how many users are enjoying it. Most bitcoin users and fiat users as well but not all fiat users are using bitcoin, that is a very simply logic that we should understand. Having said that, there is no way bitcoin can replace fiat in the future.

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Despite the fact that Fiat is supported by states and their laws, in contrast to the bitcoin world still heavily tied to real money. People will need them all the time. The fact is that the Bitcoin is money for a special caste of people, rather than for a wide Zaga.

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Quote from: phr0stbyt3 on February 07, 2017, 12:17:56 AM

Quote from: uneng on February 05, 2017, 02:40:51 PM

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Quote from: President79 on February 03, 2017, 04:10:49 AM

Yes certainly, fiat money is used, bitcoin used no more than 0,005%, I am sure there are many countries that are 100% not using bitcoin. so impossible that bitcoin replacing fiat money.

It is a fact that only few countries are into bitcoins most of them still doesn't know what bitcoin is. And it is an impossible thing that bitcoin will replace fiat because it will always be preferred for the transactions that are happening worldwide and countries will not gamble their government upon trusting and replacing fiat with bitcoin.

To make bitcoin replace fiat it must be teached at schools to the next generation. The old persons are addicted in old behaviors, that means fiat and not crypto currencies. On long term bitcoin can replace fiat but it will take too much time.
Luckly it will happen in decades, but there is the possibility to happen only after a century or so.

I don't think bitcoin will ever replace fiat. The reason is pretty obvious as bitcoin isn't stable at all and the price keeps on increasing when a person purchases it so technically it can be really profitable for a person like the pizza guy who sold a pizza for 10 million or something or a loss like for the guy who bought pizza for 3000 bitcoins. So that's what I was trying to tell because price change it can affect lot's of people.

i don't think that bitcoin will replace fiat in short time because there is much thing that bitcoin and blockchain to do, beside of the price is change too often, maybe if bitcoin price is stable like gold then bitcoin can replace fiat but the sign to get in that moment is always possible as bitcoin having a good future for the economic aspect.

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Quote from: uneng on February 05, 2017, 02:40:51 PM

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Quote from: President79 on February 03, 2017, 04:10:49 AM

Yes certainly, fiat money is used, bitcoin used no more than 0,005%, I am sure there are many countries that are 100% not using bitcoin. so impossible that bitcoin replacing fiat money.

It is a fact that only few countries are into bitcoins most of them still doesn't know what bitcoin is. And it is an impossible thing that bitcoin will replace fiat because it will always be preferred for the transactions that are happening worldwide and countries will not gamble their government upon trusting and replacing fiat with bitcoin.

To make bitcoin replace fiat it must be teached at schools to the next generation. The old persons are addicted in old behaviors, that means fiat and not crypto currencies. On long term bitcoin can replace fiat but it will take too much time.
Luckly it will happen in decades, but there is the possibility to happen only after a century or so.

I don't think bitcoin will ever replace fiat. The reason is pretty obvious as bitcoin isn't stable at all and the price keeps on increasing when a person purchases it so technically it can be really profitable for a person like the pizza guy who sold a pizza for 10 million or something or a loss like for the guy who bought pizza for 3000 bitcoins. So that's what I was trying to tell because price change it can affect lot's of people.

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It's certainly, fiat money is money official State and will continue to be protected. Although the bitcoin is very promising and the massive use of fiat money, certainly bitcoin could not have replaced fiat money. let alone a bitcoin can not be controlled so that it is difficult to replace the legal money.

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Quote from: tech_solutions on February 06, 2017, 08:42:26 AM

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Quote from: President79 on February 03, 2017, 04:10:49 AM

Yes certainly, fiat money is used, bitcoin used no more than 0,005%, I am sure there are many countries that are 100% not using bitcoin. so impossible that bitcoin replacing fiat money.

It is a fact that only few countries are into bitcoins most of them still doesn't know what bitcoin is. And it is an impossible thing that bitcoin will replace fiat because it will always be preferred for the transactions that are happening worldwide and countries will not gamble their government upon trusting and replacing fiat with bitcoin.

To make bitcoin replace fiat it must be teached at schools to the next generation. The old persons are addicted in old behaviors, that means fiat and not crypto currencies. On long term bitcoin can replace fiat but it will take too much time.
Luckly it will happen in decades, but there is the possibility to happen only after a century or so.

Even it will not be taught in the schools as long the local government will implement usage of it and it can be applicable to use bitcoin instead of fiat. But that is really impossible to see that it will happen. Because they aren't going to let bitcoin used by the people because it can make the people avoid on paying their obligations likes tax.

The government will only support it if it will benefit the majority and they can collect taxes from it, I guess that should be figured out first. The government are making ways to regulate bitcoin but they cannot do it totally, it's anonymous, therefore it cannot be prevented there are transactions that might be out of their control.

In fact, they can collect tax from bitcoin services that are being offered by local exchanges but that's the tax of operation. But getting tax directly with our bitcoin transactions, it's hard to do. And because of its decentralization the government will not have the guts to make it as a primary currency but it can be an alternative.

Actually Bitcoin is considered as investment coin just like gold and silver so if you are trading then you will be paying trading tax and showing as short term profit or loss. Fiat currency is different as it is used in daily life , so dont get confuse of bitcoin replacing fiat, both have different features and their own benefits

i do agree on yyou if we are talking about trading then you are right we need to invest money so that we could get in return from it . We all know that without any money or bitcoin in trading then you cant buy something to trade on like altcoins. Well bitcoin is not replacing fiat because both of them play a role in our life. so its diffirent

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Quote from: President79 on February 03, 2017, 04:10:49 AM

Yes certainly, fiat money is used, bitcoin used no more than 0,005%, I am sure there are many countries that are 100% not using bitcoin. so impossible that bitcoin replacing fiat money.

It is a fact that only few countries are into bitcoins most of them still doesn't know what bitcoin is. And it is an impossible thing that bitcoin will replace fiat because it will always be preferred for the transactions that are happening worldwide and countries will not gamble their government upon trusting and replacing fiat with bitcoin.

To make bitcoin replace fiat it must be teached at schools to the next generation. The old persons are addicted in old behaviors, that means fiat and not crypto currencies. On long term bitcoin can replace fiat but it will take too much time.
Luckly it will happen in decades, but there is the possibility to happen only after a century or so.

Even it will not be taught in the schools as long the local government will implement usage of it and it can be applicable to use bitcoin instead of fiat. But that is really impossible to see that it will happen. Because they aren't going to let bitcoin used by the people because it can make the people avoid on paying their obligations likes tax.

The government will only support it if it will benefit the majority and they can collect taxes from it, I guess that should be figured out first. The government are making ways to regulate bitcoin but they cannot do it totally, it's anonymous, therefore it cannot be prevented there are transactions that might be out of their control.

In fact, they can collect tax from bitcoin services that are being offered by local exchanges but that's the tax of operation. But getting tax directly with our bitcoin transactions, it's hard to do. And because of its decentralization the government will not have the guts to make it as a primary currency but it can be an alternative.

Actually Bitcoin is considered as investment coin just like gold and silver so if you are trading then you will be paying trading tax and showing as short term profit or loss. Fiat currency is different as it is used in daily life , so dont get confuse of bitcoin replacing fiat, both have different features and their own benefits

Rinder

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Bitcoin wont replace fiat, countries wont let it happen and bitcoin hasnt such potencial to reach any near fiat volume, since the supply its limited and fiat can be printed anytime new and fresh money.

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I don't think bitcoin will replace fiat soon.Bitcoin is a digital currency which allow user to make money by trading or other thing's.We can't pass a single day without fiat.So the importance of fiat is more than bitcoin.Also we need fiat to know bitcoins price and until now bitcoin is unknown to millions of people.

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Quote from: uneng on February 05, 2017, 02:40:51 PM

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Quote from: President79 on February 03, 2017, 04:10:49 AM

Yes certainly, fiat money is used, bitcoin used no more than 0,005%, I am sure there are many countries that are 100% not using bitcoin. so impossible that bitcoin replacing fiat money.

It is a fact that only few countries are into bitcoins most of them still doesn't know what bitcoin is. And it is an impossible thing that bitcoin will replace fiat because it will always be preferred for the transactions that are happening worldwide and countries will not gamble their government upon trusting and replacing fiat with bitcoin.

To make bitcoin replace fiat it must be teached at schools to the next generation. The old persons are addicted in old behaviors, that means fiat and not crypto currencies. On long term bitcoin can replace fiat but it will take too much time.
Luckly it will happen in decades, but there is the possibility to happen only after a century or so.

Even it will not be taught in the schools as long the local government will implement usage of it and it can be applicable to use bitcoin instead of fiat. But that is really impossible to see that it will happen. Because they aren't going to let bitcoin used by the people because it can make the people avoid on paying their obligations likes tax.

The government will only support it if it will benefit the majority and they can collect taxes from it, I guess that should be figured out first. The government are making ways to regulate bitcoin but they cannot do it totally, it's anonymous, therefore it cannot be prevented there are transactions that might be out of their control.

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Quote from: Maslate on February 06, 2017, 02:02:41 AM

Quote from: Tanic on February 05, 2017, 06:28:23 PM

For today to talk about the replacement sounds wired, cause of just some little present of people on the Earth know about bitcoin. I think after mass adoption of bitcoin and other crypto currencies such option will be possible and paper money will go in the past. But it needs many years to something like that to happen.

Yeah, it's weird, but that what some people wants, they think if fiat will be replace by bitcoin, the world would be a better place to live. I believe we should be more matured so we will have an idea of what would be the world would become if fiat will be out of circulation. That sounds crazy if it will happen and i don't think even if the value of my bitcoins is big, it will still be worth to spend what I need.

As said fiat won't get replaced by bitcoin. Always bitcoin or other virtual currencies act as an alternative for fiat, but never becomes mainstream. Only certain countries will officially adopt bitcoin as their currency in the future where population will be very low.

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Quote from: Tanic on February 05, 2017, 06:28:23 PM

For today to talk about the replacement sounds wired, cause of just some little present of people on the Earth know about bitcoin. I think after mass adoption of bitcoin and other crypto currencies such option will be possible and paper money will go in the past. But it needs many years to something like that to happen.

Yeah, it's weird, but that what some people wants, they think if fiat will be replace by bitcoin, the world would be a better place to live. I believe we should be more matured so we will have an idea of what would be the world would become if fiat will be out of circulation. That sounds crazy if it will happen and i don't think even if the value of my bitcoins is big, it will still be worth to spend what I need.

Tanic

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For today to talk about the replacement sounds wired, cause of just some little present of people on the Earth know about bitcoin. I think after mass adoption of bitcoin and other crypto currencies such option will be possible and paper money will go in the past. But it needs many years to something like that to happen.

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Quote from: wahb on February 05, 2017, 04:52:48 PM

Quote from: uneng on February 05, 2017, 02:40:51 PM

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Quote from: President79 on February 03, 2017, 04:10:49 AM

Yes certainly, fiat money is used, bitcoin used no more than 0,005%, I am sure there are many countries that are 100% not using bitcoin. so impossible that bitcoin replacing fiat money.

It is a fact that only few countries are into bitcoins most of them still doesn't know what bitcoin is. And it is an impossible thing that bitcoin will replace fiat because it will always be preferred for the transactions that are happening worldwide and countries will not gamble their government upon trusting and replacing fiat with bitcoin.

To make bitcoin replace fiat it must be teached at schools to the next generation. The old persons are addicted in old behaviors, that means fiat and not crypto currencies. On long term bitcoin can replace fiat but it will take too much time.
Luckly it will happen in decades, but there is the possibility to happen only after a century or so.

but i think the most important thing is to to provide the facilities of computer and internet and then proper knowledge about computer and after that they can even start learning about bitcoin how and where to use it.

Yes, you are right to Bitcoin developed need to support it. People need to know more about cryptocurrency.
At this stage of development it is still too early to say that Bitcoin will replace Fiat

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Quote from: uneng on February 05, 2017, 02:40:51 PM

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Quote from: President79 on February 03, 2017, 04:10:49 AM

Yes certainly, fiat money is used, bitcoin used no more than 0,005%, I am sure there are many countries that are 100% not using bitcoin. so impossible that bitcoin replacing fiat money.

It is a fact that only few countries are into bitcoins most of them still doesn't know what bitcoin is. And it is an impossible thing that bitcoin will replace fiat because it will always be preferred for the transactions that are happening worldwide and countries will not gamble their government upon trusting and replacing fiat with bitcoin.

To make bitcoin replace fiat it must be teached at schools to the next generation. The old persons are addicted in old behaviors, that means fiat and not crypto currencies. On long term bitcoin can replace fiat but it will take too much time.
Luckly it will happen in decades, but there is the possibility to happen only after a century or so.

but i think the most important thing is to to provide the facilities of computer and internet and then proper knowledge about computer and after that they can even start learning about bitcoin how and where to use it.

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I think bitcoin will never completely replace fiat.
There are at least two reasons for that:
1) in some countries it is not used yet and will never be used, as even fiat currency is in different stage of development - in some amount of cash is bigger than digital currency, in some electronic money is used wider.
2) fiat is controlled by the goverment and is protected by the goverment. Part of the society will never want currency to become decentralised. Even among Bitcoin community some people continue to ask about Bitcoin bank.

In my opinion Bitcoin will use as an alternative along with the fiat.

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Quote from: President79 on February 03, 2017, 04:10:49 AM

Yes certainly, fiat money is used, bitcoin used no more than 0,005%, I am sure there are many countries that are 100% not using bitcoin. so impossible that bitcoin replacing fiat money.

It is a fact that only few countries are into bitcoins most of them still doesn't know what bitcoin is. And it is an impossible thing that bitcoin will replace fiat because it will always be preferred for the transactions that are happening worldwide and countries will not gamble their government upon trusting and replacing fiat with bitcoin.

To make bitcoin replace fiat it must be teached at schools to the next generation. The old persons are addicted in old behaviors, that means fiat and not crypto currencies. On long term bitcoin can replace fiat but it will take too much time.
Luckly it will happen in decades, but there is the possibility to happen only after a century or so.

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Quote from: acroman08 on February 03, 2017, 04:26:39 AM

Quote from: Mr. Big on February 03, 2017, 04:15:51 AM

Quote from: President79 on February 03, 2017, 04:10:49 AM

Yes certainly, fiat money is used, bitcoin used no more than 0,005%, I am sure there are many countries that are 100% not using bitcoin. so impossible that bitcoin replacing fiat money.

In order for bitcoin to replace fiat, it should be introduced by the government to their people, but if we are just going to wait for normal adoption, it will take forever, and some of us have already left bitcoin and new comers enters, so no increase in number, only in numbers of people who have experience using it, and that won't be good for bitcoin...

Just to be clear bitcoin will never replace fiat even if bitcoin is being used or almost used by everyone and I'm sure government will not introduce bitcoin in a way that it will be able to replace their own currency, sure bitcoin can become more popular than fiat but replacing fiat! no, it is impossible! but you know what is possible bitcoin being replaced by another digital currency created by a government!

There's hardly any need for the government to create a new digital currency when the fiat currency we currently use is effectively already a digital currency. People keep writing on here about the threat of the a government digital currency without realizing that they're talking about something that already exists. There's far more electronic dollars than physical dollars. And the ratio of electronic transactions to cash transactions grows year over year. Cash is already a smaller part of the economy than ever before. The threat to bitcoin isn't a superior system springing up; bitcoin is in fact a new system trying to displace a system that is already superior. It's just not going to happen.

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Quote from: sir.humus on February 03, 2017, 04:19:37 AM

Quote from: Mr. Big on February 03, 2017, 04:15:51 AM

Quote from: President79 on February 03, 2017, 04:10:49 AM

Yes certainly, fiat money is used, bitcoin used no more than 0,005%, I am sure there are many countries that are 100% not using bitcoin. so impossible that bitcoin replacing fiat money.

In order for bitcoin to replace fiat, it should be introduced by the government to their people, but if we are just going to wait for normal adoption, it will take forever, and some of us have already left bitcoin and new comers enters, so no increase in number, only in numbers of people who have experience using it, and that won't be good for bitcoin...

It's like saying that autonomous cars won't replace regular cars, because it's not used by a lot of people, some people who tried it already left, and newcomers enter.
But it will happen, and sooner than you might think, and so does bitcoin.

the examples of cars of autonomous and regular cars is different from bitcoin and fiat because these cars depends on the will of the people but in currencies bitcoin is the will of people and fiat is the will of governments. They will contradict in their decisions. But if we see at the usage then we can say that the use of fiat will be totally replaced with bitcoin.

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