Bitcoin can not replace fiat - page 77.

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Quote from: hurain on January 09, 2017, 02:07:55 PM

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Quote from: Kray on January 07, 2017, 10:32:21 AM

Yes i agree, bitcoin can not replace fiat in anyway

Yes that's what I believe too but you must indicate some reason on why fiat cannot be replace by bitcoin. And I guess fiat is just simply irreplaceable as it is the one that we have been using for centuries already and people will also have another hard time if ever bitcoin will replace fiat. But as of now, it is just a mere fact that bitcoin cannot replace fiat.

actually bitcoin is becoming more and more stronger than its previous position as we can see that the number of bitcoin users are increasing continuously, therefore it is becoming difficult to replace bitcoin by any other alt coin. hope bitcoin will continue its position as the number one currency of the world.

People will dictate the future of bitcoin, as you can see the numbers of adopters are increasing, that would only mean one thing, we are getting stronger and as stronger as we are, altcoins are getting weaker.

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Quote from: Kray on January 07, 2017, 10:32:21 AM

Yes i agree, bitcoin can not replace fiat in anyway

Yes that's what I believe too but you must indicate some reason on why fiat cannot be replace by bitcoin. And I guess fiat is just simply irreplaceable as it is the one that we have been using for centuries already and people will also have another hard time if ever bitcoin will replace fiat. But as of now, it is just a mere fact that bitcoin cannot replace fiat.

actually bitcoin is becoming more and more stronger than its previous position as we can see that the number of bitcoin users are increasing continuously, therefore it is becoming difficult to replace bitcoin by any other alt coin. hope bitcoin will continue its position as the number one currency of the world.

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Quote from: mkmdoc on January 09, 2017, 01:35:39 AM

Fiat cannot be replaced with bitcoin because how altcoin completely relying on bitcoin like that bitcoin is relying on fiat, without fait currency we cannot able to buy bitcoin. Bitcoin are completely legalized in every country, even though it is legalized by every country fait con't be replaced with bitcoin. Than with what basis we have to compare bitcoin with other currencies.

No, that's wrong, we don't need other currency to compare with when bitcoin replaces fiat. It is completely not needed anymore since currency will be bitcoin and it will devalue fiat if it takes over the position of fiat. Legalization of bitcoin would be against bitcoin and I think it should not happen.

Fiat is strong and it is being regulated by governments since the dawn of money, so there is no other way that bitcoin could replace fiat than regulating it and be regulated by each country, which I think cannot be called as bitcoin anymore when that happened.

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Fiat cannot be replaced with bitcoin because how altcoin completely relying on bitcoin like that bitcoin is relying on fiat, without fait currency we cannot able to buy bitcoin. Bitcoin are completely legalized in every country, even though it is legalized by every country fait con't be replaced with bitcoin. Than with what basis we have to compare bitcoin with other currencies.

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Quote from: Kray on January 07, 2017, 10:32:21 AM

Yes i agree, bitcoin can not replace fiat in anyway

That's very vague reply to this topic. It doesn't encourage any good conversation.

Quote from: mirakal on January 08, 2017, 09:59:50 PM

Quote from: jaysabi on January 08, 2017, 08:52:50 AM

It is quite likely that digital currency replaces physical fiat, but his does not necessarily mean Bitcoin. It is more likely to be digital fiat. Western economies already deal more with digital fiat than physical fiat; it's a trend that has been increasing for 20 years already. Physical fiat probably doesn't go away, it will always have a place, but will be very small in comparison to digital transactions using fiat.

The government can make their own digital currency which I believe will be the trend in the future. The world is moving fast and here we are now enjoying what we can benefit of using bitcoin, surely bitcoin will stay but cannot replace fiat to be realistic.

IMO, it's better to keep bitcoin away from fiat so the government cannot regulate us and we can continue to have the freedom like we are enjoying now.

I would have to agree with this. Governments will create their own digital currency because that is the future of everything. Everything will be digital in the future because the world is moving towards the reduction of the use of traditional methods of everything, ie paper documents. However, bitcoin will still have a place in this world because bitcoins is decentralized. That would basically be its weapon.

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Quote from: jaysabi on January 08, 2017, 08:52:50 AM

It is quite likely that digital currency replaces physical fiat, but his does not necessarily mean Bitcoin. It is more likely to be digital fiat. Western economies already deal more with digital fiat than physical fiat; it's a trend that has been increasing for 20 years already. Physical fiat probably doesn't go away, it will always have a place, but will be very small in comparison to digital transactions using fiat.

The government can make their own digital currency which I believe will be the trend in the future. The world is moving fast and here we are now enjoying what we can benefit of using bitcoin, surely bitcoin will stay but cannot replace fiat to be realistic.

IMO, it's better to keep bitcoin away from fiat so the government cannot regulate us and we can continue to have the freedom like we are enjoying now.

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It is quite likely that digital currency replaces physical fiat, but his does not necessarily mean Bitcoin. It is more likely to be digital fiat. Western economies already deal more with digital fiat than physical fiat; it's a trend that has been increasing for 20 years already. Physical fiat probably doesn't go away, it will always have a place, but will be very small in comparison to digital transactions using fiat.

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Quote from: countryfree on December 23, 2015, 11:05:11 AM

Of course, BTC cannot replace fiat. I certainly don't want BTC to replace fiat. I love fiat. I'll never use anything but cash to get a drink. I love having a thick stack of banknotes in my pocket. The goal should be to replace credit cards, traveler checks, and that's huge.

I also thinks the same because without fiat we can't do anything in practical world , So need to fiat is a big thing .
Secondly here everyone making hard work only for bitcoin but at the end everyone will cash out their bitcoin into fiat .
So here we can see directly that there is no chance to use bitcoin instead of fiat . Here bitcoin is a important thing that making our earning fast .

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Quote from: Finestream on January 07, 2017, 10:13:57 PM

Quote from: angaper on January 07, 2017, 04:32:21 PM

We will never see that bitcoin completely replaces the fiat, just as the fiat could never replace gold and other metals as a store of value because each is satisfying different needs. In addition, having so many different options in the altcoin economy, there were always be those who prefer a different option to manage their economy, which reduces the chances of bitcoin to become a direct successor to the fiat.

The more option we have this world is a better place to live, but even with different options we cannot deny that there's a superior of all, and I believe fiat is more superior of bitcoin, not because of it's value but because of the number of users who patronizes it. The future might not be unseen but the chances for bitcoin to replace fiat is very dim.

None can predict the future and the superior ones will eventually fall and be getting replaced by the newest, it's natural law. The more option mean high competition and it's really good for the consumer of the services.
Even if bitcoin has a dim chance to actually replace fiat in everyday life but it still has a chance, don't easily lose your hope.

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Quote from: angaper on January 07, 2017, 04:32:21 PM

We will never see that bitcoin completely replaces the fiat, just as the fiat could never replace gold and other metals as a store of value because each is satisfying different needs. In addition, having so many different options in the altcoin economy, there were always be those who prefer a different option to manage their economy, which reduces the chances of bitcoin to become a direct successor to the fiat.

The more option we have this world is a better place to live, but even with different options we cannot deny that there's a superior of all, and I believe fiat is more superior of bitcoin, not because of it's value but because of the number of users who patronizes it. The future might not be unseen but the chances for bitcoin to replace fiat is very dim.

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We will never see that bitcoin completely replaces the fiat, just as the fiat could never replace gold and other metals as a store of value because each is satisfying different needs. In addition, having so many different options in the altcoin economy, there were always be those who prefer a different option to manage their economy, which reduces the chances of bitcoin to become a direct successor to the fiat.

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Quote from: Parazyd on December 23, 2015, 09:54:15 AM

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.

There are plenty of coffee shops that accepted bitcoin as far as I kno, even restaurants and Starbucks too.
I agree that bitcoin can't replace fiat due to a Nation won't allow it happen and people still bound with fiat.
For example, every increases of bitcoin, massive transaction convert bitcoin into fiat occurred like what just happened in the last few days. People still buy and sell bitcoin with fiat money right.

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Yes i agree, bitcoin can not replace fiat in anyway

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Quote from: kreskko on January 06, 2017, 01:28:20 AM

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Quote from: ufaiz50 on January 05, 2017, 07:32:56 PM

for now peoples believe bitcoin can't replace fiat because most of the payment by fiat such as the necessities of life and I'm sure most users bitcoin exchanging bitcoin them to their country's local currency (fiat)

Yes agree, I never thought that bitcoin is created to replace the fiat money. I am hope as now, easy to use, it could be accepted in many places or many countries and of course the prices always go up but not too significant, I think it's quite up 15% per year.

Indeed it is not created for this but this can also not happen because the currency's are simply protected by banks and the government.

Banks strongly regulate all financial relationships in the world, so they can accurately prevent destroy fiat. Each State is interested in it and will not give bitcoin.

Though banks try regulating user friendly financial system at some instance bitcoin with its potential will overcome the banking system. Right now understanding this banks started adoption of Blockchain technology and initiated their own digital currency. This helps them to keep users attached to the banking system.

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Quote from: Mr.grin on December 29, 2016, 11:22:32 AM

bitcoin probably will never replace fiat. Well, fiat contains figures of heroes in history, in addition, Fiat is evidence that a country has a viable means of transaction, so bitcoin will probably never replace it.

That's true it will never replace fiat, We all need fiat to exchange our bitcoin for me i need fiat currency first reason is we don't have bitcoin debit card here in my country we all had virtual where we can use only for shopping and not for withdrawing our money. Fiat is the most live currency that can country use worldwide.

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Quote from: Pattart on January 07, 2017, 04:17:42 AM

Quote from: KingdomHearts on January 06, 2017, 01:25:39 PM

bitcoin will be never replace fiat because fiat is regular currency and we can use it for direct shopping and we can use it for online shopping but i hope we can be use both currencies for direct shopping in the future.

if you think fiat can not be replaced because it uses fiat you can shop directly. I think bitcoin could also do it. in my town you can buy clothes directly by paying bitcoin using QR code ?

I guess you are missed understanding, till forever no one can replace fiat due fiat stay under control by goverment. yes you can buy anything stuff using bitcoin or other digital currency but the merchant will exchange it as fast as they can.

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Quote from: Pattart on January 07, 2017, 04:17:42 AM

Quote from: KingdomHearts on January 06, 2017, 01:25:39 PM

bitcoin will be never replace fiat because fiat is regular currency and we can use it for direct shopping and we can use it for online shopping but i hope we can be use both currencies for direct shopping in the future.

if you think fiat can not be replaced because it uses fiat you can shop directly. I think bitcoin could also do it. in my town you can buy clothes directly by paying bitcoin using QR code ?

You can't live with clothes alone, you need food, and services that your country is offering and needs your fiat and not your bitcoin. As long as everything is not payable with bitcoin, it isn't enough for bitcoin to dominate the fiat, though it's a good experience if you could use your bitcoin directly to buy on a merchant, it is not yet an assurance that we will go mainstream and dominate the fiat system. Remember, just one signature by our leaders and bitcoin can be banned.

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Quote from: KingdomHearts on January 06, 2017, 01:25:39 PM

bitcoin will be never replace fiat because fiat is regular currency and we can use it for direct shopping and we can use it for online shopping but i hope we can be use both currencies for direct shopping in the future.

if you think fiat can not be replaced because it uses fiat you can shop directly. I think bitcoin could also do it. in my town you can buy clothes directly by paying bitcoin using QR code ?

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Quote from: Doamader on January 06, 2017, 02:58:51 PM

Bitcoin were never made to replace anything, but to help all people which does several transactions online, it has growed too fast and into levels that i doubt Nakamoto were expecting. It became one of the best investments, from the miners, and for investors as well, bitcoin nowadays can be used for anything if not directly by third companies, debitc cards, but with this all the fiat will always stay alive doesnt matter how strong and valuable bitcoin may became.

Yes, I agree. To replace fiat, Bitcoin needs to resolve some problems such as money laundering, drugs, taxes, smuggles... if it must pass over these problems it will become a central digital currency and can replace fiat in the future.

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Quote from: Doamader on January 06, 2017, 02:58:51 PM

Bitcoin were never made to replace anything, but to help all people which does several transactions online, it has growed too fast and into levels that i doubt Nakamoto were expecting. It became one of the best investments, from the miners, and for investors as well, bitcoin nowadays can be used for anything if not directly by third companies, debitc cards, but with this all the fiat will always stay alive doesnt matter how strong and valuable bitcoin may became.

I agree with that, bitcoin and fiat can co exist and it will make a better world to live. Fiat has been around even when I was not born in this world, so it's strong compared to bitcoin but using both can give us good benefits.

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