Topic: Bitcoin can not replace fiat - page 88. (Read 163801 times)
For fiat to be replaced by cryptocurrency (ex. bitcoin) we first need a global internet to be established first so it is still a long future but the possibility is not 0% cause no one knows what the future will hold . The certain thing now is we will continue to use fiat as long as we live today . The mass adaptation is also not impossible, Many of us thinks that with the bitcoin improvement continuing it will eventually lead to that
Coffee is best spent with pocket change anyway. Big purchases could/should be paid for with Bitcoin in the future.
Its obvious that bitcoin can never replace fiat .thats y it is suggested u have both bitcoins and fiats in 50 50 ratio .thats y whenever it is necessary you can apply to it .and enjoy a better life.
I have not even thought of that because it's not going to happen, bitcoin can disappear anytime but fiat will always be here for a long time. Fiat is necessary for us to transact and to survive in this world, we do not need internet with fiat and we can trade easily. As i can see maybe bitcoin can replace the fiat bitcoin is getting expensive and higher price when bitcoin replace fiat what would be the next? In my country we always use fiat to trade or to sell our bitcoin and will directly transfer into our bank accounts hope bitcoin will keep fiat as his partner
It may occur that in the future bitcoin replace fiat as already people like to use digital system for their payment system and they because of security do not like to carry fiat/cash with themselves and as we can see bitcoin is more secure they will then love to use bitcoin but fiat will not disappear as the government will not like that and they will support it.
Its obvious that bitcoin can never replace fiat .thats y it is suggested u have both bitcoins and fiats in 50 50 ratio .thats y whenever it is necessary you can apply to it .and enjoy a better life.
Bitcoin is still new and not many know, I doubt it could replace the fiat money. If more than 51% of the population of the Earth know bitcoin, I believe this will be able to replace the fiat money.
I am 100% satisfied with Your phrase that is " Bitcoin is still new things " .I am looking in my area and friend circle everyone is unknown with Bitcoin they are saying " Bitcoin may be a new payment system and nothing ".
So I think it is the time for Bitcoin to progress and it is sure that Bitcoin can't be replace by fiat because of its popularity .
Bitcoin is still new and not many know, I doubt it could replace the fiat money. If more than 51% of the population of the Earth know bitcoin, I believe this will be able to replace the fiat money.
As i can see maybe bitcoin can replace the fiat bitcoin is getting expensive and higher price when bitcoin replace fiat what would be the next? In my country we always use fiat to trade or to sell our bitcoin and will directly transfer into our bank accounts hope bitcoin will keep fiat as his partner
Personally I don't think bitcoin was ever devised to replace fiat at all, it is going to become a currency that despite not being backed by any government it is going be valuable and useful for a significant amount of the world population, but fiat will continue to exist.
I think anyone can be against the government would lose. bitcoin is not backed by the government would bitcoin will not be able to beat the government. The law certainlybut I hope that bitcoin will equal the future fiat
Because as it stands now, Bitcoin isn't subject to all kinds of ridiculous laws and policies as is the case with fiat, precious metals, and the list goes on.
Bitcoin is freedom, and people slowly start to realize that. It offers people a great opportunity to fairly easily escape from the governmental system that is only working against people.
Personally I don't think bitcoin was ever devised to replace fiat at all, it is going to become a currency that despite not being backed by any government it is going be valuable and useful for a significant amount of the world population, but fiat will continue to exist.
I think anyone can be against the government would lose. bitcoin is not backed by the government would bitcoin will not be able to beat the government. The law certainlybut I hope that bitcoin will equal the future fiat
Because as it stands now, Bitcoin isn't subject to all kinds of ridiculous laws and policies as is the case with fiat, precious metals, and the list goes on.
Bitcoin is freedom, and people slowly start to realize that. It offers people a great opportunity to fairly easily escape from the governmental system that is only working against people.
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.
Firstly, why are you saying that 'unlike fiat money it actually exists'? Where does btc really exist? This is just an illusion we can continue believing in and so it works, whereas fiat money is at least regulated by the government and something actually existing in our empirical world. Secondly, these complications wouldn't occur if btc was instead of everything. People would recieve the salary in btc and they won't need fiat. 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 agree with this statement, even if it's an old post topic.
Bitcoin will growing up. It compares with fiat, convert to fiat, but it can't change existence of fiat.
It cant really replace fiat anytime soon even how much bitcoin would progeress on future days.Since its getting its value from the fiat itself and it cant even create its own value since all people know and build fiat currency and its really impossible for it to be replaced so easily. Future is approaching and things will surely evolve and thats the time will bitcoin will fly and most commonly used regarding on online payments.Bitcoin will growing up. It compares with fiat, convert to fiat, but it can't change existence of fiat.
Could you tell us where you got this idea from or whom?
If Bitcoin gets its value from the fiat itself, what about gold then? If we assume that the former is correct, we should also assume that the latter is correct too, i.e. gold derives its value exclusively from fiat as well, right? But in this case you would have to explain how gold itself had been used as money for a few long millenia before the fiat money emerged. According to such logic, this is an impossible thing, and then all history about gold as money should have been invented while fiat should have existed from the times immemorial
I also believing that bitcoins can never ever replace fiat currency evn if bitcoin will be the worlds currency.Because fiat is owned b government and not the same as bitcoin who is owned by rich peoples.But bitcoin can be in fiat currency line but can never ever replace any fiat
It depends on the power of the ordinary people. If everybody wants to use the bitcoin, bitcoin will replace fiat.
Bitcoin cannot totally replace fiat .as in some countries bitcoins would totally be banned .otherwise some people would not even try to understand what is the use of bitcoins,well adopting it would take more than a generation .
I agree with this statement, even if it's an old post topic.
Bitcoin will growing up. It compares with fiat, convert to fiat, but it can't change existence of fiat.
Yes agree with you Bitcoin can not replace US Dollar or other fiat currency, before Bitcoin tries to replace Fiat (US Dollar) the US Government will ban Bitcoin forever so it's never possible that Bitcoin can replace fiat.Bitcoin will growing up. It compares with fiat, convert to fiat, but it can't change existence of fiat.
US government wont even have to ban it i guess.. Because they will simply not let it reach that place by not letting their companies adopt it so that people don't get to know about it and without that thing bitcoin wont progress at all there... and they wont need to permanently ban it..
I agree with this statement, even if it's an old post topic.
Bitcoin will growing up. It compares with fiat, convert to fiat, but it can't change existence of fiat.
Yes agree with you Bitcoin can not replace US Dollar or other fiat currency, before Bitcoin tries to replace Fiat (US Dollar) the US Government will ban Bitcoin forever so it's never possible that Bitcoin can replace fiat. Bitcoin will growing up. It compares with fiat, convert to fiat, but it can't change existence of fiat.
I agree with this statement, even if it's an old post topic.
Bitcoin will growing up. It compares with fiat, convert to fiat, but it can't change existence of fiat.
It cant really replace fiat anytime soon even how much bitcoin would progeress on future days.Since its getting its value from the fiat itself and it cant even create its own value since all people know and build fiat currency and its really impossible for it to be replaced so easily. Future is approaching and things will surely evolve and thats the time will bitcoin will fly and most commonly used regarding on online payments. Bitcoin will growing up. It compares with fiat, convert to fiat, but it can't change existence of fiat.
I agree with this statement, even if it's an old post topic.
Bitcoin will growing up. It compares with fiat, convert to fiat, but it can't change existence of fiat.
Bitcoin will growing up. It compares with fiat, convert to fiat, but it can't change existence of fiat.
Personally I don't think bitcoin was ever devised to replace fiat at all, it is going to become a currency that despite not being backed by any government it is going be valuable and useful for a significant amount of the world population, but fiat will continue to exist.
I think anyone can be against the government would lose. bitcoin is not backed by the government would bitcoin will not be able to beat the government. The law certainlybut I hope that bitcoin will equal the future fiat
Because as it stands now, Bitcoin isn't subject to all kinds of ridiculous laws and policies as is the case with fiat, precious metals, and the list goes on.
Bitcoin is freedom, and people slowly start to realize that. It offers people a great opportunity to fairly easily escape from the governmental system that is only working against people.
Personally I don't think bitcoin was ever devised to replace fiat at all, it is going to become a currency that despite not being backed by any government it is going be valuable and useful for a significant amount of the world population, but fiat will continue to exist.
I think anyone can be against the government would lose. bitcoin is not backed by the government would bitcoin will not be able to beat the government. The law certainlybut I hope that bitcoin will equal the future fiat
Jump to: