Topic: Bitcoin can not replace fiat - page 8. (Read 163791 times)
I believe even bitcoin becomes acceptable in the whole world it cannot replace fiat. Bitcoin will be an additional form of currency thst will be widely accepted.
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.
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.
I think BTC is a daily currency and can replace fiat money if it gets the approval of all countries for business and social-economics, but what we see is a protest and there is a country that does not recognize it. the question is that there is action and constraint on fiat transactions to control the activities of money laundering and terrorists and how the BTC preserves the this regulation.
on the other
Bitcoin value is on the Bitcoin itself and as well as Fiat money value is on the Fiat itself, this is different to gold which has since the old generation until comes to new generation the gold has been a treasure that has its own value, this is because the variable structure by the gold makes it is between materials that have different values in electronic, electrical and mechanical component part.
example of how the gold is of value but its price is always a dispute, parable "as bad as gold in the mud become a fight by man,what more gold which has been cleansed and made to decorative materials" this is different to fiat and BTC where the value remains on the structure and quantity if it is damaged then it will be eliminated there may be a replacement for fiat but not for the digital currency when the system is destroyed then you will loses everything.
besides, price disputes for Gold, fiat, BTC and crypto are only compared in terms of geo-political and economic static to determine the price status for their spouse, where speculation and emotional games are always changing according to the taste of the majority, by the next of the future may be present something new will be replace the BTC therefore I am more assuming BTC and fiat is the daily currency not asset this is very different to Gold
However if one already owns bitcoins, this problem that you have becomes non-existent.
You missed OP's point though, he/she was talking about bitcoin being part of everyday transactions (ie. buying a cup of coffee). Although we probably won't see bitcoin be adopted as a mainstream currency (used by almost everyone) in the near future I think it is possible with all the progress and development going on with cryptocurrencies. Just don't expect to see it anytime soon.
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.
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.
Quite unlikely for a crypto currency to replace fiat, because it is not at all intended to do that. Abolish governments, shut down banks, buy all things anonymously. Those are some of the things that must happen first before a decentralized currency becomes what fiat serves right now.
bitcoin will not replace fiat.. it will replace gold. bitcoin is the virtual gold, and i can say that cryptocurrency is the new market that is booming after stockmarket. as you can see these year is just a beginning for crypto. we dont know yet what alternative coin can replace the us dollar but i know for sure that we can replace it and change our financial system. cryptocurrency with the backed up of the blockchain technology is the next innovation after the boom of the internet.
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.
If we speaking about present time u are totally right. But future is coming, and who had cell phone, computer 30 years ago? Look what kind of phones we had 10 years ago, and look what we have now? Digital era is comming and bitcoin will find better place in that then fiat. When will that come, who knows, we can just make some speculations. 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.
Bitcoin really can't replace fiat, which is the number 1 currency in the world. Most of people won't allow this to happened and thst would be scary.
In my opinion I think most governments in developed and strong states will not make bitcoin or crypto legal tender since it would result in them losing control over monetary policies. (except for japan..)
But I think crypto will become more accepted over the internet especially for e-commence. And I think this is more than good enough cos e-commence will become more and more prevalent than physical sales. So in the future we will use more and more crypto when we shop online and pay for services online but in the physical world when we buy a coffee, we will use fiat.
When I say fiat, it means digital fiat which can be form of govt-backed crypto too.
But I think crypto will become more accepted over the internet especially for e-commence. And I think this is more than good enough cos e-commence will become more and more prevalent than physical sales. So in the future we will use more and more crypto when we shop online and pay for services online but in the physical world when we buy a coffee, we will use fiat.
When I say fiat, it means digital fiat which can be form of govt-backed crypto too.
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.
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.
For now, I believe it can't. The thing is people are not very fond of change. Therefore, it will be really difficult for most of the population of the world to not use the Fiat system that they are used to. They will feel not secure about what they have because they feel that internet is something that can be easily hacked or infiltrated.
Fiat money is what everybody uses on a typical day, and can not be replaced with a digital currency in just a few moments. This is more likely in the future, becauae technology continues to grow, we have technology higher than before and replacing fiat money with bitcoin will not be possible now, but maybe in the future. Bitcoin is not as popular as others think. Most people do not know that this currency exists, and most of them are not interested in knowing it. .
Bitcoin can't replace fiat but it can make competition and even win someday. At my opinion price is always matter in this case thats why people trying to join bitcoin.
I believe that bitcoin can really not replace fiat in this world because until now not all people in this world is supporting or know bitcoin, and for me fiat is many people needs in this world to survive and fiat is more flexible over than bitcoin because bitcoin is needed internet before we use unlike on fiat.You said many people are know supporting bitcoin , therfore i think there is a small posiblity that bitcoin can replace the fiats soon. you know people do also want change or innovation as we call it. Bitcoin can somehow give us innovation by providing us a one of kind service. But i do also agree when you say fiats are still important, yes they are still important for now because majority of our population is still poor and they cant still use bitcoin based on their status and standard of their life. sooner or later these poor country and people should improve and they will also go with the flow.
Real bitcoin believers, many of them opposed to bitcoin and the dollar and any legal currency. If a system of 1 cent is eventually established, bitcoin's believers will not be happy, and the believers will not be happy. Bitcoin believers are more likely to value the value of the item than the dollar. If everything in dollars is converted into bitcoins, then there is no point in bitcoin. There is a problem, that is, the dollar will inflation, currency will shrink, you use 1 cent = 1, it's just $21 million COINS is another kind of form, it is not reasonable.
Bitcoin can't replace fiat but it can make competition and even win someday. At my opinion price is always matter in this case thats why people trying to join bitcoin.
I believe that bitcoin can really not replace fiat in this world because until now not all people in this world is supporting or know bitcoin, and for me fiat is many people needs in this world to survive and fiat is more flexible over than bitcoin because bitcoin is needed internet before we use unlike on fiat.
Bitcoin can become more popular than fiats in the future but it cannot really replace national fiats that are are fully under the regulation of governments under the influence of the top banks. Bitcoin can dominate transactions in any country though as long as people trust it and find it convenient.
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.
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.
For now, I believe it can't. The thing is people are not very fond of change. Therefore, it will be really difficult for most of the population of the world to not use the Fiat system that they are used to. They will feel not secure about what they have because they feel that internet is something that can be easily hacked or infiltrated.
Fiat money is what everybody uses on a typical day, and can not be replaced with a digital currency in just a few moments. This is more likely in the future, becauae technology continues to grow, we have technology higher than before and replacing fiat money with bitcoin will not be possible now, but maybe in the future. Bitcoin is not as popular as others think. Most people do not know that this currency exists, and most of them are not interested in knowing it. .
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.
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.
Probably soon enough payments will be done with the cell phone. I believe in ten years from now, approximately, paying with the cell phone will be something really usual. So, if the crypto world continues rising such nowadays, then is truly probable paying with them become something usual, but, of course, by using your cell phone. For instance: I can see in some years from now paying just in a machine at the exit of a restaurant. You just have to put your cell phone close to this hypothetical machine and your meal will be paid off. I don't think is difficult to achieve that, in fact, everything related to the payment system which is being developed nowadays seems to leads to this goal..
The services of bitcoin is different from the services of faint money, but to say the fact what bitcoin offer is much higher then that of faint money e.g bitcoin is and assets with great value and bitcoin transactions can be carried out any time any where currency or country not withstanding.
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.
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.
Probably soon enough payments will be done with the cell phone. I believe in ten years from now, approximately, paying with the cell phone will be something really usual. So, if the crypto world continues rising such nowadays, then is truly probable paying with them become something usual, but, of course, by using your cell phone. For instance: I can see in some years from now paying just in a machine at the exit of a restaurant. You just have to put your cell phone close to this hypothetical machine and your meal will be paid off. I don't think is difficult to achieve that, in fact, everything related to the payment system which is being developed nowadays seems to leads to this goal..
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.
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.
Yes, I think currently bitcoin is present only as an alternative currency for online transactions. Bitcoin only meets some of the utility of the currency. Bitcoin is difficult to replace fiat money.
Bitcoin can never replace the fiat; bitcoin is the one we will use in transactions online, while fiat is for physical transactions. Fiat is great and shouldn’t be replaced by bitcoin. But it can IF or almost of the people will be interested in using it, it will take years to happen. Bitcoin should be a focus to be a digital currency around the world, that helps paper money.
Bitcoin can never replace the fiat; bitcoin is the one we will use in transactions online, while fiat is for physical transactions. Fiat is great and shouldn’t be replaced by bitcoin. But it can IF or almost of the people will be interested in using it, it will take years to happen. Bitcoin should be a focus to be a digital currency around the world, that helps paper money.
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