Bitcoin can not replace fiat - page 71.

Botnake

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Quote from: South Park on January 27, 2017, 05:00:24 PM

Quote from: Fireblade on January 27, 2017, 12:38:14 AM

Quote from: bryant.coleman on January 26, 2017, 01:18:32 PM

Quote from: antonioa on January 26, 2017, 01:15:23 PM

How can this happen if the government will not allow it? More and more countries are adopting laws that make use of cryptocurrency uninteresting. That is why Bitcoin can not replace fiat currency

One of the most interesting aspects about Bitcoin is that it can't be banned. The governments may succeed in banning the conversion of fiat to Bitcoin (and vice versa), but they can't stop the transmission of Bitcoins from one user to another. And they can't prevent someone selling merchandise for Bitcoin. The anonymity of Bitcoin offers protection from governmental harassment.

currency as most of the people use bitcoin and invest their fiat in bitcoin because they they that they can convert it in fiat, and most of the people do so when they eared a good amount of bitcoin, and then they use it for fulfilling their needs. but if governments will banned the conversion of fiat or the fiat into bitcoin then it will become a problem, because in most of the area people cannot use bitcoin directly for shopping.

If a government decided to ban conversion of bitcoin to fiat and fiat to bitcoin then we will just use another currency, and if that was a decision of the leaders of the wold then we will just trade in other cryptos and if they baned that too, then we could create a closed ecosystem.

If the government will ban the usage of bitcoin then probably it will ban all the crypto currencies, however I guess they will not do that as it is our freedom which are not respected here. They can limit the usage of bitcoin by imposing strict rules and regulations as they want to keep monitoring bitcoin to be use for legitimate transactions only.

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Quote from: Fireblade on January 27, 2017, 12:38:14 AM

Quote from: bryant.coleman on January 26, 2017, 01:18:32 PM

Quote from: antonioa on January 26, 2017, 01:15:23 PM

How can this happen if the government will not allow it? More and more countries are adopting laws that make use of cryptocurrency uninteresting. That is why Bitcoin can not replace fiat currency

One of the most interesting aspects about Bitcoin is that it can't be banned. The governments may succeed in banning the conversion of fiat to Bitcoin (and vice versa), but they can't stop the transmission of Bitcoins from one user to another. And they can't prevent someone selling merchandise for Bitcoin. The anonymity of Bitcoin offers protection from governmental harassment.

currency as most of the people use bitcoin and invest their fiat in bitcoin because they they that they can convert it in fiat, and most of the people do so when they eared a good amount of bitcoin, and then they use it for fulfilling their needs. but if governments will banned the conversion of fiat or the fiat into bitcoin then it will become a problem, because in most of the area people cannot use bitcoin directly for shopping.

If a government decided to ban conversion of bitcoin to fiat and fiat to bitcoin then we will just use another currency, and if that was a decision of the leaders of the wold then we will just trade in other cryptos and if they baned that too, then we could create a closed ecosystem.

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Quote from: germanybtc on January 27, 2017, 12:53:21 AM

actually i think that bitcoins will replace fiat in like a few decades hopefully because in my opinion bitcoin is stronger than fiat

It is not always about being strong, Maybe it is stronger than fiat but it does not have any support behind it. Like how fiat has a government behind it, all bitcoin has got is the community which cannot force the world to adopt bitcoin. And the authorities would probably not let bitcoin replace fiat as long as they have no control on it.

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Quote from: RealPhotoshoper on January 27, 2017, 01:52:13 AM

Quote from: germanybtc on January 27, 2017, 12:53:21 AM

actually i think that bitcoins will replace fiat in like a few decades hopefully because in my opinion bitcoin is stronger than fiat

in what term bitcoin much stronger than fiat?
i can not see any reason (at least for now) fiat can be replaced by any other currency form .
people really hard to move forward , they cannot even think about the future as they are too busy , selfless.

Yeah i agree. And i think that even though bitcoin is growing and has a price that sees itself going up most of the time, i think its still uncertain if we would even have bitcoin in the future. Although im hoping it grows more and stronger, im not really that confident about digital currencies so i think its a little too early to even conaider bitcoin being at par with fiat

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Quote from: germanybtc on January 27, 2017, 12:53:21 AM

actually i think that bitcoins will replace fiat in like a few decades hopefully because in my opinion bitcoin is stronger than fiat

in what term bitcoin much stronger than fiat?
i can not see any reason (at least for now) fiat can be replaced by any other currency form .
people really hard to move forward , they cannot even think about the future as they are too busy , selfless.

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I believe too that bitcoin can't replace a fiat money because it is the universal currency of a country, all people have it. We already know that the benefits of bitcoin is given to us but not all people can use it for the reason they don't see bitcoin as a great opportunity. We already have the fiat money so there are instances sometimes BTC is an option or as an alternate money.

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Quote from: germanybtc on January 27, 2017, 12:53:21 AM

actually i think that bitcoins will replace fiat in like a few decades hopefully because in my opinion bitcoin is stronger than fiat

I hope that your dream come true. But as of now, I look at it as a delusion. Bitcoin cannot just replace fiat for no reason and even for decade. As long as it is being patronized by government and countries, the printing of it will not stop. It needs a strong power to stop it and probably bitcoin is not that strong to replace it. Just remember that bitcoin if all being mined, it will only be few parts of the whole economy and not even noticeable.

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actually i think that bitcoins will replace fiat in like a few decades hopefully because in my opinion bitcoin is stronger than fiat

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Quote from: bryant.coleman on January 26, 2017, 01:18:32 PM

Quote from: antonioa on January 26, 2017, 01:15:23 PM

How can this happen if the government will not allow it? More and more countries are adopting laws that make use of cryptocurrency uninteresting. That is why Bitcoin can not replace fiat currency

One of the most interesting aspects about Bitcoin is that it can't be banned. The governments may succeed in banning the conversion of fiat to Bitcoin (and vice versa), but they can't stop the transmission of Bitcoins from one user to another. And they can't prevent someone selling merchandise for Bitcoin. The anonymity of Bitcoin offers protection from governmental harassment.

currency as most of the people use bitcoin and invest their fiat in bitcoin because they they that they can convert it in fiat, and most of the people do so when they eared a good amount of bitcoin, and then they use it for fulfilling their needs. but if governments will banned the conversion of fiat or the fiat into bitcoin then it will become a problem, because in most of the area people cannot use bitcoin directly for shopping.

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Quote from: bryant.coleman on January 26, 2017, 01:18:32 PM

Quote from: antonioa on January 26, 2017, 01:15:23 PM

How can this happen if the government will not allow it? More and more countries are adopting laws that make use of cryptocurrency uninteresting. That is why Bitcoin can not replace fiat currency

One of the most interesting aspects about Bitcoin is that it can't be banned. The governments may succeed in banning the conversion of fiat to Bitcoin (and vice versa), but they can't stop the transmission of Bitcoins from one user to another. And they can't prevent someone selling merchandise for Bitcoin. The anonymity of Bitcoin offers protection from governmental harassment.

That is decentralization for you, if it was not for that feature of bitcoin I’m sure the governments would have tried a raid against bitcoin already like what they did to liberty reserve, egold and probably others.

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Quote from: bryant.coleman on January 26, 2017, 01:18:32 PM

Quote from: antonioa on January 26, 2017, 01:15:23 PM

How can this happen if the government will not allow it? More and more countries are adopting laws that make use of cryptocurrency uninteresting. That is why Bitcoin can not replace fiat currency

One of the most interesting aspects about Bitcoin is that it can't be banned. The governments may succeed in banning the conversion of fiat to Bitcoin (and vice versa), but they can't stop the transmission of Bitcoins from one user to another. And they can't prevent someone selling merchandise for Bitcoin. The anonymity of Bitcoin offers protection from governmental harassment.

Of course one of the most interesting feature is that anyone can use it everywhere in the world if the government of that country has impose restrictions to buy/sell goods and services. As far as anonymity this is not true because bitcoin in reality is only pseudonymous and not anonymous. So, if someone wish to be anonymous must apply other methods in order to succeed it.

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Quote from: bryant.coleman on January 26, 2017, 01:18:32 PM

Quote from: antonioa on January 26, 2017, 01:15:23 PM

How can this happen if the government will not allow it? More and more countries are adopting laws that make use of cryptocurrency uninteresting. That is why Bitcoin can not replace fiat currency

One of the most interesting aspects about Bitcoin is that it can't be banned. The governments may succeed in banning the conversion of fiat to Bitcoin (and vice versa), but they can't stop the transmission of Bitcoins from one user to another. And they can't prevent someone selling merchandise for Bitcoin. The anonymity of Bitcoin offers protection from governmental harassment.

You are right, but because the government does more taxes on transactions with Bitcoin. It requests the authorization of each use, who carries out operations with cryptocurrency. It will not work completely abandon fiat

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Quote from: antonioa on January 26, 2017, 01:15:23 PM

How can this happen if the government will not allow it? More and more countries are adopting laws that make use of cryptocurrency uninteresting. That is why Bitcoin can not replace fiat currency

One of the most interesting aspects about Bitcoin is that it can't be banned. The governments may succeed in banning the conversion of fiat to Bitcoin (and vice versa), but they can't stop the transmission of Bitcoins from one user to another. And they can't prevent someone selling merchandise for Bitcoin. The anonymity of Bitcoin offers protection from governmental harassment.

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Quote from: MFahad on January 26, 2017, 10:45:07 AM

Quote from: ArdiPrabowo on January 23, 2017, 04:32:29 AM

Quote from: Reid on January 21, 2017, 09:02:12 AM

A long shot to make that happen. We might be seeing robots on the street first before that could happen. It is hard having just an online money now. There is too much people who cant have the same technology as we do have or they just dont want it. Changing this first is the hard task before we could all rely on money that will just be swiped.

robot and machine is diference bitcoin
if bitcoin want replace fiat money, the first about regulation
second physic must ready, because replace fiat money must have physic coin
and then knowladge, if replace i think not bitcoin, but is USA or super power country can create coin and replace bitcoin

I do not think we need regulation and physical money for bitcoins, in order to replace it with fiat. We do not want regulation (to avoid taxes) and physical money (to avoid hassle of carrying) as we are moving towards digitial era. Bitcoin in its current condition will surely replace fiat one day.

How can this happen if the government will not allow it? More and more countries are adopting laws that make use of cryptocurrency uninteresting. That is why Bitcoin can not replace fiat currency

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It seems like Bitcoin can't survive without Fiat, rather than the other way around. I visited a number of Bitcoin-based sites such as Bitify and Bitpremier. Although the merchandise is listed in BTC, their prices are based on USD. When the exchange rate fluctuates, the price in Bitcoin also changes accordingly. If this is the case, then how can Bitcoin become independent from fiat?

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Quote from: ArdiPrabowo on January 23, 2017, 04:32:29 AM

Quote from: Reid on January 21, 2017, 09:02:12 AM

A long shot to make that happen. We might be seeing robots on the street first before that could happen. It is hard having just an online money now. There is too much people who cant have the same technology as we do have or they just dont want it. Changing this first is the hard task before we could all rely on money that will just be swiped.

robot and machine is diference bitcoin
if bitcoin want replace fiat money, the first about regulation
second physic must ready, because replace fiat money must have physic coin
and then knowladge, if replace i think not bitcoin, but is USA or super power country can create coin and replace bitcoin

I do not think we need regulation and physical money for bitcoins, in order to replace it with fiat. We do not want regulation (to avoid taxes) and physical money (to avoid hassle of carrying) as we are moving towards digitial era. Bitcoin in its current condition will surely replace fiat one day.

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Quote from: ArdiPrabowo on January 23, 2017, 04:32:29 AM

Quote from: Reid on January 21, 2017, 09:02:12 AM

A long shot to make that happen. We might be seeing robots on the street first before that could happen. It is hard having just an online money now. There is too much people who cant have the same technology as we do have or they just dont want it. Changing this first is the hard task before we could all rely on money that will just be swiped.

robot and machine is diference bitcoin
if bitcoin want replace fiat money, the first about regulation
second physic must ready, because replace fiat money must have physic coin
and then knowladge, if replace i think not bitcoin, but is USA or super power country can create coin and replace bitcoin

They can't change fiat this is crazy evereyone needs fiat to exchange bitcoin and exchange bitcoin into fiat in fast way. And technology are upgrading even the riches man in the world needs fiat i don't know if they actknowledge bitcoin in their business but im sure bitcoin can't replace fiat.

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Quote from: arseaboy on January 25, 2017, 01:57:53 PM

Quote from: deisik on January 25, 2017, 12:58:24 PM

Quote from: LegendaryMiner on January 24, 2017, 05:28:18 PM

Quote from: Malsetid on January 24, 2017, 03:32:53 PM

Quote from: ekoice on January 24, 2017, 08:42:22 AM

Fiat cannot be replaced by bitcoin. Even in developed countries like US, people are not totally converted to digital transactions and fiat is used still.Most people in developing countries dont even have a bank account. They dont know how to use a credit or debit card.Indian government tried to convert people to digital transactions by demolishing high value notes and people suffer a lot there. So fiat cannot be replaced, but bitcoin may become as a secondary payment option.

I agree and most likely that is whats going to happen here. For me bitcoin can't survive by itself at this time without fiat conversion. Most btc transactions are still converted to fiat. People are so used and reliant to this main currency that it would take i think more than a few decades before bitcoin could even compete with fiat in supremacy. Though as you've said it would be very beneficial if it could be a secondary option much like how we use credit and debit cards today

Many users convert Bitcoin to Fiat because they have no other options to spend their money. If you ask these users what they would prefer, most would probably say that they would like to use Bitcoin to pay the daily expenses. Some users say that Bitcoin is unstable, and this is true to a certain degree, yet many people prefer to store value in Bitcoin than in Fiat currency, especially in countries where the local currency is very unstable

I'm not sure of that

In fact, I'm very dubious that people would actually want to pay with bitcoins for their daily expenses unless they wanted to show off (which is not a good idea either). Folks may have to convert Bitcoin to fiat having "no other options to spend their money" if they literally had no other option, for example, if they had no fiat in their pockets. If you ask me, spending precious bitcoins on trivial things is a downright stupid idea since Bitcoin is a much better vehicle for speculation than fiat as well as a store of value

I agree with you mate. some people don't really use bitcoins as a mode of payment or use as for their daily expenses4.. they would still prefer to convert their bitcoins into cash so they can use it in stores or groceries. That's what I always do.

actually in most of the area people still do not have the facilities to use bitcoin for shopping, although they can use it online easily as most of the stores now accepting bitcoin for shopping, but in local shops the shopkeepers actually do not have any idea about bitcoin therefore they are not accepting bitcoins in their shops, but hop that in future when they will understand bitcoin then they will surely start accepting bitcoins.

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i think the topic should be more like bitcoin is not replacing the faintbecause bitcoin has a lot of potentiality which really takes some time to explore.. every greate stuff is complex to understand than an odinary stuffs. well if we think that btc can not replace faints then also one single reason is we. we do fource it reproduce it more and more which is the huge problem

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Quote from: deisik on January 25, 2017, 12:58:24 PM

Quote from: LegendaryMiner on January 24, 2017, 05:28:18 PM

Quote from: Malsetid on January 24, 2017, 03:32:53 PM

Quote from: ekoice on January 24, 2017, 08:42:22 AM

Fiat cannot be replaced by bitcoin. Even in developed countries like US, people are not totally converted to digital transactions and fiat is used still.Most people in developing countries dont even have a bank account. They dont know how to use a credit or debit card.Indian government tried to convert people to digital transactions by demolishing high value notes and people suffer a lot there. So fiat cannot be replaced, but bitcoin may become as a secondary payment option.

I agree and most likely that is whats going to happen here. For me bitcoin can't survive by itself at this time without fiat conversion. Most btc transactions are still converted to fiat. People are so used and reliant to this main currency that it would take i think more than a few decades before bitcoin could even compete with fiat in supremacy. Though as you've said it would be very beneficial if it could be a secondary option much like how we use credit and debit cards today

Many users convert Bitcoin to Fiat because they have no other options to spend their money. If you ask these users what they would prefer, most would probably say that they would like to use Bitcoin to pay the daily expenses. Some users say that Bitcoin is unstable, and this is true to a certain degree, yet many people prefer to store value in Bitcoin than in Fiat currency, especially in countries where the local currency is very unstable

I'm not sure of that

In fact, I'm very dubious that people would actually want to pay with bitcoins for their daily expenses unless they wanted to show off (which is not a good idea either). Folks may have to convert Bitcoin to fiat having "no other options to spend their money" if they literally had no other option, for example, if they had no fiat in their pockets. If you ask me, spending precious bitcoins on trivial things is a downright stupid idea since Bitcoin is a much better vehicle for speculation than fiat as well as a store of value

I agree with you mate. some people don't really use bitcoins as a mode of payment or use as for their daily expenses4.. they would still prefer to convert their bitcoins into cash so they can use it in stores or groceries. That's what I always do.

Topic: Bitcoin can not replace fiat - page 71. (Read 163804 times)