Bitcoin can not replace fiat - page 96.

gabmen

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Quote from: traderethereum on November 21, 2016, 04:00:30 AM

i think bitcoin can replace fiat and make united all currency in the world because we that every people in this world when they using bitcoin, they can do with the same amount and with the bitcoin, the different is the fee, time to send and receive, and the wallet for user use. and i think that thread is make people confusing about this. its not be happen in short time, i am sure for that, but it needs time to replace fiat.

you do have a point that because of bitcoin's benefits, it's highly possible that bitcoin would be widely used once people become exposed to what bitcoin can do. although it would take a lot more time than a decade for it to replace the one currency used throughout the world for the past century. fiat has a foundation that bitcoin may find hard to uproot and though possible, I don't see bitcoin replacing fiat during our lifetime.

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i think bitcoin can replace fiat and make united all currency in the world because we that every people in this world when they using bitcoin, they can do with the same amount and with the bitcoin, the different is the fee, time to send and receive, and the wallet for user use. and i think that thread is make people confusing about this. its not be happen in short time, i am sure for that, but it needs time to replace fiat.

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Quote from: STT on November 21, 2016, 03:30:04 AM

With so many governments in serious debt and having caused all money to become zero coupon bonds with no expiry, its become questionable. Maybe the whole market could become saturated with this type of debt. Enter bitcoin a reasonable alternative, not reliant on one country and its politics and stability for value but possible to exchange world wide instantly at low fees

I don't think that Bitcoin is anywhere near that level of becoming a true world money simply for technical reasons. Its very concept (that of blockchain) doesn't look very promising should Bitcoin enter this new level for real. It will be too expensive to support. Just imagine how large and how fast will the blockchain itself expand in sheer size. It will become unusable in less than no time...

I can't fathom how it could possibly function if it should fully substitute, say, the dollar

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They are something different and can't be categorize as same type of currency but they can go with synergy for making world better
Let say if carrying money is difficult things then carrying bitcoin will be another great option ( less being rob )

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Never say never, bitcoin can replace FIAT currency but the real questions are how easily and with what efficency could it do so. All paper money is a loose promise to acknowledge a payment of debts to government and in court for that notes home nation, its nothing magic just a big government handing out tokens in line with their purchasing power.
With so many governments in serious debt and having caused all money to become zero coupon bonds with no expiry, its become questionable. Maybe the whole market could become saturated with this type of debt. Enter bitcoin a reasonable alternative, not reliant on one country and its politics and stability for value but possible to exchange world wide instantly at low fees.
I do agree bitcoin has to make progress with its ease of use, it really needs access to all populations not just the technology aware. If at all elitist some bank or corporate will conjour up some shiny alternative for the masses

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Quote from: susila_bai on November 21, 2016, 01:29:28 AM

Quote from: Finestream on November 21, 2016, 01:24:33 AM

Quote from: Yuuto on November 21, 2016, 01:21:35 AM

Quote from: ?? on ??

Bitcoin can not replace fiat because bitcoin is can be spend only in online and it has no real coin to spend offline while fiat is traditional currency which every body can used it any where we want.

Bitcoin CAN be accepted in real life and not online. In fact it is so much easier than paypal to spend in real life. You simply scan a QR code and you'd be good to go. Bitcoin technology can even be integrated into an Apple-Pay style transaction mechanism.

Bitcoin cafes are already across the world. But obviously adoption rates are a whole different story.

It can but the establishment or businesses who have adopted with bitcoin are very limited, the fact that you are spending regularly to survive in this world we cannot do it if we rely on bitcoin alone.

Admit it or not, we need fiat and we know from our own that bitcoin cannot replace fiat.

Replacing of any currency will take place but it will take long time as the old system have to be dumped and before that new system should be accepted by almost every one and it should be come to main stream.

First the peoples used barting system where trading like that , then the kings came and made coins with their logo and then each country formed with government system and then each country have their own currency. So like this bitcoin is a neutral digital currency which will be used by whole world without giving any country to dominate their currency price high on other country.

It will take time till then fiat currency is going to be used.

It will but it's not bitcoin that is going to replace fiat.

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Quote from: Finestream on November 21, 2016, 01:24:33 AM

Quote from: Yuuto on November 21, 2016, 01:21:35 AM

Quote from: ?? on ??

Bitcoin can not replace fiat because bitcoin is can be spend only in online and it has no real coin to spend offline while fiat is traditional currency which every body can used it any where we want.

Bitcoin CAN be accepted in real life and not online. In fact it is so much easier than paypal to spend in real life. You simply scan a QR code and you'd be good to go. Bitcoin technology can even be integrated into an Apple-Pay style transaction mechanism.

Bitcoin cafes are already across the world. But obviously adoption rates are a whole different story.

It can but the establishment or businesses who have adopted with bitcoin are very limited, the fact that you are spending regularly to survive in this world we cannot do it if we rely on bitcoin alone.

Admit it or not, we need fiat and we know from our own that bitcoin cannot replace fiat.

Replacing of any currency will take place but it will take long time as the old system have to be dumped and before that new system should be accepted by almost every one and it should be come to main stream.

First the peoples used barting system where trading like that , then the kings came and made coins with their logo and then each country formed with government system and then each country have their own currency. So like this bitcoin is a neutral digital currency which will be used by whole world without giving any country to dominate their currency price high on other country.

It will take time till then fiat currency is going to be used.

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Quote from: Yuuto on November 21, 2016, 01:21:35 AM

Quote from: ?? on ??

Bitcoin can not replace fiat because bitcoin is can be spend only in online and it has no real coin to spend offline while fiat is traditional currency which every body can used it any where we want.

Bitcoin CAN be accepted in real life and not online. In fact it is so much easier than paypal to spend in real life. You simply scan a QR code and you'd be good to go. Bitcoin technology can even be integrated into an Apple-Pay style transaction mechanism.

Bitcoin cafes are already across the world. But obviously adoption rates are a whole different story.

It can but the establishment or businesses who have adopted with bitcoin are very limited, the fact that you are spending regularly to survive in this world we cannot do it if we rely on bitcoin alone.

Admit it or not, we need fiat and we know from our own that bitcoin cannot replace fiat.

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Quote from: ?? on ??

Bitcoin can not replace fiat because bitcoin is can be spend only in online and it has no real coin to spend offline while fiat is traditional currency which every body can used it any where we want.

Bitcoin CAN be accepted in real life and not online. In fact it is so much easier than paypal to spend in real life. You simply scan a QR code and you'd be good to go. Bitcoin technology can even be integrated into an Apple-Pay style transaction mechanism.

Bitcoin cafes are already across the world. But obviously adoption rates are a whole different story.

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Quote from: freedomgo on November 21, 2016, 12:55:02 AM

Quote from: FinanceUS on November 20, 2016, 10:52:47 PM

Quote from: chixka000 on November 20, 2016, 05:30:16 PM

This is my other thought. Bitcoin in the first doesn't have the plan to replace fiat. Fiat is fiat and it can be replaced by bitcoin because in other ways bitcoin is bitcoin as well which can not be replaced by fiat either both are unique, both do have advantages and disadvantages as well. But they obviously are comparable that makes their differences.

They are both unique, that's correct, but it doesn't mean one can't replace another.

In some countries, people don't trust their own fiat at all and use USD instead. So if one day people don't trust USD anymore, they will then choose another they trust most. So it is possible they will choose Bitcoin if they find they can't find a better alternative.

It is all about trust.

They are only some but majority of the people trust their fiat as it represents their nation. For me, there's no problem because I can trust both fiat and bitcoin and happy to have both.

yeah , And also everyone here only for fiat ( while he is earning btc here ) .
i also thinks that it can't replace because both are good and trusted at their place but bitcoin is virtual but fiat is real and vritual both .

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Quote from: FinanceUS on November 20, 2016, 10:52:47 PM

Quote from: chixka000 on November 20, 2016, 05:30:16 PM

This is my other thought. Bitcoin in the first doesn't have the plan to replace fiat. Fiat is fiat and it can be replaced by bitcoin because in other ways bitcoin is bitcoin as well which can not be replaced by fiat either both are unique, both do have advantages and disadvantages as well. But they obviously are comparable that makes their differences.

They are both unique, that's correct, but it doesn't mean one can't replace another.

In some countries, people don't trust their own fiat at all and use USD instead. So if one day people don't trust USD anymore, they will then choose another they trust most. So it is possible they will choose Bitcoin if they find they can't find a better alternative.

It is all about trust.

They are only some but majority of the people trust their fiat as it represents their nation. For me, there's no problem because I can trust both fiat and bitcoin and happy to have both.

FinanceUS

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Quote from: chixka000 on November 20, 2016, 05:30:16 PM

This is my other thought. Bitcoin in the first doesn't have the plan to replace fiat. Fiat is fiat and it can be replaced by bitcoin because in other ways bitcoin is bitcoin as well which can not be replaced by fiat either both are unique, both do have advantages and disadvantages as well. But they obviously are comparable that makes their differences.

They are both unique, that's correct, but it doesn't mean one can't replace another.

In some countries, people don't trust their own fiat at all and use USD instead. So if one day people don't trust USD anymore, they will then choose another they trust most. So it is possible they will choose Bitcoin if they find they can't find a better alternative.

It is all about trust.

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Quote from: chixka000 on November 20, 2016, 05:30:16 PM

This is my other thought. Bitcoin in the first doesn't have the plan to replace fiat. Fiat is fiat and it can be replaced by bitcoin because in other ways bitcoin is bitcoin as well which can not be replaced by fiat either both are unique, both do have advantages and disadvantages as well. But they obviously are comparable that makes their differences.

Yeah both bitcoin and fiat have their own different features which are useful to us. Bitcoin is beneficial in the sense that it help us earn money and make business online, earn profits, hold our money free from any authority, etc. Also fiat is beneficial since it is the money we use in all our transactions everyday and is being used by many since in the past. So bitcoin cannot replace fiat as well as fiat to bitcoin because they have their unique features which both benefit people.

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Quote from: MTBTT on November 20, 2016, 05:12:08 PM

Quote from: ?? on ??

Bitcoin can not replace fiat because bitcoin is can be spend only in online and it has no real coin to spend offline while fiat is traditional currency which every body can used it any where we want.

nope i think bitcoin can be used offline. a few days ago I was using bitcoin to pay at one of the restaurants in my city, they accept bitcoin, you only need to copy the QR code and you can send bitcoin there

I think happen in few countries which using bitcoin offline, most countries are not taking bitcoin offline, they are usuing bitcoin online. we have to change the currency to be used in our countries or change to international currency if you want using bitcoin offline.

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This is my other thought. Bitcoin in the first doesn't have the plan to replace fiat. Fiat is fiat and it can be replaced by bitcoin because in other ways bitcoin is bitcoin as well which can not be replaced by fiat either both are unique, both do have advantages and disadvantages as well. But they obviously are comparable that makes their differences.

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Quote from: ?? on ??

Bitcoin can not replace fiat because bitcoin is can be spend only in online and it has no real coin to spend offline while fiat is traditional currency which every body can used it any where we want.

nope i think bitcoin can be used offline. a few days ago I was using bitcoin to pay at one of the restaurants in my city, they accept bitcoin, you only need to copy the QR code and you can send bitcoin there

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Quote from: coinfast on November 20, 2016, 04:14:45 PM

I think bitcoin or online payment systems can not replace fiat,Because still many poor countries and Illiterate people who do not have the ability to use bitcoin, fiat will not be replaced.

Yes many poor country that they have no knowledge about bitcoin. So fiat is not easy to replace of any crytocurrency. Many people lack of knowledge in bitcoin they dont even know how to create wallet. Yes fiat will not be replaced

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I think bitcoin or online payment systems can not replace fiat,Because still many poor countries and Illiterate people who do not have the ability to use bitcoin, fiat will not be replaced.

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Quote from: ?? on ??

Bitcoin can not replace fiat because bitcoin is can be spend only in online and it has no real coin to spend offline while fiat is traditional currency which every body can used it any where we want.

This is not true.
Yeah, I agree with you that you must have an internet connection in order to send bitcoins, but now days, even at the less developed countries, there is a WIFI connection almost everywhere, and everybody owns a personal phone with an internet connection.
Also it is possible to produce some Physical coins that contain bitcoins with a secure hologram that will make it secure for someone to receive bitcoins without actually needing an internet connection.

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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.

You're right that bitcoin can't replace fiat as we need fiat to buy bitcoin right now and every state have their own currency as official payment and become such as identity of the country. It's better to see that bitcoin as a mainstream payment in digital currency and has mutual support with fiat money. Each of them has it own advantages, I prefer to have both of them but bitcoin is more likely to get massive adoption in the future because many reasons : easier transaction to send/receive worldwide, low fees, fast payment as easy pay a cup of coffee with fiat (use your smartphone), high price and still continue to increase, the most important it's decentralized.

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