Bitcoin can not replace fiat - page 91.

virasog

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Quote from: outatime1 on November 26, 2016, 08:27:36 PM

Bitcoin can't replace fiat just like gold can't replace fiat. Bitcoin will have
many uses like a store of value or a way to send money to someone else, or even a method
of payment but there will always be a place for a government currency as well.

Yes it is true that bitcoin cannot replace the fiat currency but this currency have many uses, the value of bitcoin is valuable and the transaction of this
is more fastest than what ever fiat currencies. Especially through internet access compare to other.

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Quote from: Mastsetad on November 30, 2016, 10:55:19 AM

Quote from: sobsitesearch on November 30, 2016, 07:11:21 AM

Bitcoin can not replace fiat even the value of bitcoin would be more higher in the future because not all people can access and use it, fiat is traditional currency which all people are able to used it even without gadgets and internet connection

Obviously, not every people in the world has access to internet, nor everyone knows how to do it and also not everyone like using something like bitcoin as a primary currency, and nor the governments would let them do it even if they want.

This is indeed true and the fact is also that fiat is simply way too big to take over, the bitcoin cannot achieve this!!

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Quote from: sobsitesearch on November 30, 2016, 07:11:21 AM

Bitcoin can not replace fiat even the value of bitcoin would be more higher in the future because not all people can access and use it, fiat is traditional currency which all people are able to used it even without gadgets and internet connection

Obviously, not every people in the world has access to internet, nor everyone knows how to do it and also not everyone like using something like bitcoin as a primary currency, and nor the governments would let them do it even if they want.

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Quote from: sobsitesearch on November 30, 2016, 07:11:21 AM

Bitcoin can not replace fiat even the value of bitcoin would be more higher in the future because not all people can access and use it, fiat is traditional currency which all people are able to used it even without gadgets and internet connection

You are definitely correct, bitcoin will always be a alternative money like the other digital currency, while on the other hand, we have been using fiat ever since and it's like a many years up to now so it's not easy to replace when people are used to using it and government only tell us to recognize it as our legal tender.

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Bitcoin can not replace fiat even the value of bitcoin would be more higher in the future because not all people can access and use it, fiat is traditional currency which all people are able to used it even without gadgets and internet connection

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Quote from: serjent05 on November 29, 2016, 04:34:50 AM

Quote from: Mastsetad on November 29, 2016, 04:25:57 AM

Quote from: sportis on November 28, 2016, 03:29:53 PM

I partially agree for a couple of different reasons. Firstly, bitcoin will not replace fiat now and in nearby future but not at the distant one. Even though all people had internet access they need information and familiarity with blockchain technology. Who will provide it them? Secondly, I agree that bitcoin is the best monetary system in many transactions particularly for international transactions or through online for goods and services but for everyday micropayments? Oh no is pain in the ass

Though the everyday's micropayments or understanding of the blockchain technology wont become a problem, but the biggest reason why bitcoin wont replace fiat is the limitation of amount it has, we all know that there are a limited amount of bitcoins exist and even not all of them are in circulation, so i don't feel bitcoin can replace the fiat in that situation.

Sorry but it is not the bitcoin limit the reason why it cannot replace fiat. If you think aboout bitcoin, it needs 100m satoshi for 1 BTC and there are 21m BTC, that simply gives you 21,000,000,000,000,000 units of satoshi and i read from one of the thread of the idea of splitting satoshi to milli satoshi, that will give you enough for the whole word to use. In my opinion the reason that it will never replace fiat because the government will never adopt bitcoin as their main currency. Every government wants control and that is almost impossible to bitcoin.

I totally agree with you, you can simply use satoshis instead if bitcoins become too expensive in that context. But the main reason why it won't replace is government resistance to that concept. They need to be able to print money at will, that's the deal. On the other hand, treating bitcoin as a commodity can serve the same purpose of making direct transfers of value.

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Quote from: uname on November 30, 2016, 05:19:23 AM

Quote from: co0ler on November 29, 2016, 06:47:57 PM

It's probably something that would not happen in a few years, but I believe there will come a point where the number of users, who will realize the benefits of using Bitcoin, will increase at a rate never seen before.

I think though users bitcoin is growing and very much it would not make bitcoin replace fiat, it's a sure thing! but for a price of course there will not be people who know about it, maybe the price will explode

definitely. it's just too hard for bitcoin to replace fiat and even if bitcoin just almost replace them if the government just banned bitcoin because it may threaten their economy,then the efforts will turn into nothing. bitcoin is really suited to be an alternate option but not the main currency yet or even replace the local's currency

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Quote from: co0ler on November 29, 2016, 06:47:57 PM

It's probably something that would not happen in a few years, but I believe there will come a point where the number of users, who will realize the benefits of using Bitcoin, will increase at a rate never seen before.

I think though users bitcoin is growing and very much it would not make bitcoin replace fiat, it's a sure thing! but for a price of course there will not be people who know about it, maybe the price will explode

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Quote from: co0ler on November 29, 2016, 06:47:57 PM

It's probably something that would not happen in a few years, but I believe there will come a point where the number of users, who will realize the benefits of using Bitcoin, will increase at a rate never seen before.

It is very hard for bitcoin to replace fiat for a very short time and even a decade or two is not even enough for replacing it. We may not when that time will happen that bitcoin will replace fiat or else it will be loved by the people all around the world and it will be possible if many users will have a petition to the world government to consider bitcoin.

Absolutely its really hard for bitcoin to replace fiat because its been used for several years and whole world uses that for currency exchange using fiat always. Fiat is very important in order for you to convert your bitcoin into cash form of money out of digital currency but its good to know that if in the future technology will adopt this bitcoin to be used for transactions particularly on buying and selling not just online but on the stores out there on your place.

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Quote from: Drago2016 on November 30, 2016, 02:36:21 AM

Quote from: _Legendary_ on November 30, 2016, 02:32:20 AM

I think future day can replace, since the existence of the bitcoin already many changes to the way global transactions, and very likely if you can replace the fiat.

This probability is - no one argues. But in real life it is practically impossible. The government will not allow such a scenario

You are right, everything in this world is decided by the government especially when it can already impact a big population in the world where bitcoin cannot be regulated and it is known as widely use for illegal transactions, it would be hard for us to achieve that dream.

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Quote from: _Legendary_ on November 30, 2016, 02:32:20 AM

I think future day can replace, since the existence of the bitcoin already many changes to the way global transactions, and very likely if you can replace the fiat.

This probability is - no one argues. But in real life it is practically impossible. The government will not allow such a scenario

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I think future day can replace, since the existence of the bitcoin already many changes to the way global transactions, and very likely if you can replace the fiat.

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Quote from: co0ler on November 29, 2016, 06:47:57 PM

It's probably something that would not happen in a few years, but I believe there will come a point where the number of users, who will realize the benefits of using Bitcoin, will increase at a rate never seen before.

Why you say that bitcoin is not get a popularity with the people?
You should check it out every day and especially in this year the number of users are increasing, and also people know about the bitcoin, Even in my country, only few people know about it but within 2 years people have a awareness about crypto currency and they have interest to use it.

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Quote from: Huge Black Woman on November 29, 2016, 09:38:11 PM

Yessir, I AGREEZ with this for the most part. But if you look at them unstable shithole countries like Mexico, you could see how bitcoin would benefit them. If not replace their tired old currency, at least supplement it like a multivitamin. I'm not even joking. We all in the 1st world countries take if fo granted, but we all just waiting for the USD and British Pound to collapse. Definitely could happen. There gonna be a rush to hard money and cryptocurrency.

Yes I am agree with you friend. Technicaly paper money can get collapse, even usd or pound becouse its just made from paper that have no intrinsic value. Paper money strenght is depend on the government politcal strenght too. Also paper money is so playable for trader and hoarder. In 1997 someone was destroy asean economics by buy a lot of usd. Country which have debt that must pay it in usd is in economi crisis. Becouse their fiat price against usd get droping extremely.

Huge Black Woman

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Yessir, I AGREEZ with this for the most part. But if you look at them unstable shithole countries like Mexico, you could see how bitcoin would benefit them. If not replace their tired old currency, at least supplement it like a multivitamin. I'm not even joking. We all in the 1st world countries take if fo granted, but we all just waiting for the USD and British Pound to collapse. Definitely could happen. There gonna be a rush to hard money and cryptocurrency.

co0ler

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It's probably something that would not happen in a few years, but I believe there will come a point where the number of users, who will realize the benefits of using Bitcoin, will increase at a rate never seen before.

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Quote from: Blitzboy on November 29, 2016, 05:47:53 PM

Quote from: socks435 on November 28, 2016, 01:46:19 PM

Quote from: alphablitzer on November 28, 2016, 01:23:51 PM

It cannot replace fiat since a lot of people haven't known Bitcoin or basically cryptocurrency. The flawlessness of being transparent of the transactions, the information of the user is not needed, and the decentralized power of Bitcoin makes it great but lay people only see the bad side of it. They don't see the possibility of Bitcoin being used as transactions in our daily lives. I feel a gleaming ray of hope that sometime in the future, we would all be paperless.

fiat is control by government and i think they don't want to replace them.. but if government accept bitcoin i am sure they will ask for large task for bitcoin since the benefits of bitcoin is price increases government are greedy..
For me it is impossible to replace fiat with bitcoin since bitcoin is use for online activities how about the local activities so fiat still be prefer.

There will be a worldwide revolution both online and in the physical world if the Governments deny using Bitcoin as the main currency. Because Bitcoin is not being controlled by the Government, more people will decide to choose Bitcoin instead of Fiat. Bitcoin also gives users a higher opportunity of being protected personal information. And Bitcoin users do not have to pay tax at all

Because bitcoin can't controlled by the government, so its can't replace fiat. Because government need full control fiat for keep all prices and inflation. But future day, I sure that bitcoin can replace fiat.

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Quote from: socks435 on November 28, 2016, 01:46:19 PM

Quote from: alphablitzer on November 28, 2016, 01:23:51 PM

It cannot replace fiat since a lot of people haven't known Bitcoin or basically cryptocurrency. The flawlessness of being transparent of the transactions, the information of the user is not needed, and the decentralized power of Bitcoin makes it great but lay people only see the bad side of it. They don't see the possibility of Bitcoin being used as transactions in our daily lives. I feel a gleaming ray of hope that sometime in the future, we would all be paperless.

fiat is control by government and i think they don't want to replace them.. but if government accept bitcoin i am sure they will ask for large task for bitcoin since the benefits of bitcoin is price increases government are greedy..
For me it is impossible to replace fiat with bitcoin since bitcoin is use for online activities how about the local activities so fiat still be prefer.

There will be a worldwide revolution both online and in the physical world if the Governments deny using Bitcoin as the main currency. Because Bitcoin is not being controlled by the Government, more people will decide to choose Bitcoin instead of Fiat. Bitcoin also gives users a higher opportunity of being protected personal information. And Bitcoin users do not have to pay tax at all

uname

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Quote from: SHAWN-MIDWAYS on November 28, 2016, 04:31:12 AM

I see bitcoin and fiat to be the perfect compliments of each other as the can be used interchangeably whenever we want to cut down on fees when trying to make a transaction so both will co-exist

yeah there is no need to bring down each other, because they also have their merits and I think both of them nor prohibited use it even makes it much easier than simply choosing one currency only?

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Quote from: Mastsetad on November 29, 2016, 04:25:57 AM

Quote from: sportis on November 28, 2016, 03:29:53 PM

I partially agree for a couple of different reasons. Firstly, bitcoin will not replace fiat now and in nearby future but not at the distant one. Even though all people had internet access they need information and familiarity with blockchain technology. Who will provide it them? Secondly, I agree that bitcoin is the best monetary system in many transactions particularly for international transactions or through online for goods and services but for everyday micropayments? Oh no is pain in the ass

Though the everyday's micropayments or understanding of the blockchain technology wont become a problem, but the biggest reason why bitcoin wont replace fiat is the limitation of amount it has, we all know that there are a limited amount of bitcoins exist and even not all of them are in circulation, so i don't feel bitcoin can replace the fiat in that situation.

Sorry but it is not the bitcoin limit the reason why it cannot replace fiat. If you think aboout bitcoin, it needs 100m satoshi for 1 BTC and there are 21m BTC, that simply gives you 21,000,000,000,000,000 units of satoshi and i read from one of the thread of the idea of splitting satoshi to milli satoshi, that will give you enough for the whole word to use. In my opinion the reason that it will never replace fiat because the government will never adopt bitcoin as their main currency. Every government wants control and that is almost impossible to bitcoin.

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