Bitcoin is the digital dollar - page 16.

lukmandog

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Quote from: MrJake on February 18, 2018, 12:51:51 PM

I think it's not far if i say that dollar and bitcoin are actually the leaders of their platforms. What's also crazy is how this forum served as the source of consumers and a big factor in increasing the acceptability of bitcoin by people. Really the design and everything about this community is genius.

I agree, as long as it is not a comparison. both can not be compared each other, cause of different system.
but there are similar things between Dollar and Bitcoin. for example, both Dollar and Bitcoin are approved as currencies tool for any other currencies. some paper currencies have to use dollars to exchange, can't be exchange directly. same as some cryptocurrencies have to use bitcoin to exchange.
correct me if I'm wrong..

RavRider

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Haha i think calling Bitcoin the digital dollar is a insult for bitcoin. Because compared to the dollar, bitcoin has the a real value. Bitcoin is the exact opposite of the dollar. Because the dollar is worthless and controlled by some people. Bitcoin has a real value and its decentrilized which makes it impossible to controll. So Bitcoin is the only real currency that we should used in the world, because its free from corruptions and cheating!

Shipitcinvova

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All payments can be made without relying on third-party organization and the whole system is protected by highly peer-reviewed cryptographic algorithms, like those used in online banking.

HoldtotheMoon_6789

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I think digital dollar is XLM or XRP not BTC

GoldnOil

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Quote from: MrJake on February 18, 2018, 12:51:51 PM

I think it's not far if i say that dollar and bitcoin are actually the leaders of their platforms. What's also crazy is how this forum served as the source of consumers and a big factor in increasing the acceptability of bitcoin by people. Really the design and everything about this community is genius.

Bitcoin will become a Digital Gold Asset where you can store a tons of wealth..... its success will depend on support from Communities, Developers and Govt. Regulators... where a transparent system can be made......

zander09

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Quote from: Zandar on March 09, 2018, 09:47:57 AM

Bitcoin is not the digital dollar, it only gets measured by the dollar. Only untill they create a digital version of the dollar which always remains equal to $1 dollar no matter what goes on, then and only then will there be a digital dollar.

I agree. Bitcoin is not a digital dollar. It's a digital currency that we can use to all store who accept bitcoin. Yes dollar is currency but we have a different country and different money. So in other country bitcoin can also convert in their local currency.

1Referee

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Quote from: Granxis on March 09, 2018, 09:27:51 AM

The length of confinement periods and the high fee fee are not obstacles, but the biggest obstacle is that Bitcoin is not developed in this respect.

I get your point. Crypto at this point in time, and likely in the forthcoming years as well, will be neglected as currency tool when it comes to the aspect of purchasing goods. You can't blame the people for that, and you can't blame crypto for that. People just don't like to hand you over something that has $1000 value today, but will likely have a $2000 value six months later. I am quite sure that LN will give people more incentive than ever before to start using Bitcoin as currency, but it still doesn't do anything when it comes to that long term stability aspect that Bitcoin lacks. I am however confident that we eventually will get that stability due to the stricter regulations concerning crypto exchanges, where they will be forced to implement security measures as we know them from stock markets. Instead of a more severe form of market manipulation, whales will need to work within the range that allows them to avoid triggering the security measures. Less free market cabapilities will translate into less overall volatility.

Zandar

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Bitcoin is not the digital dollar, it only gets measured by the dollar. Only untill they create a digital version of the dollar which always remains equal to $1 dollar no matter what goes on, then and only then will there be a digital dollar.

baconlike

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In my opinion, the dollar is the leading cash in the world. Because the dollar is almost universally accepted. Bitcoin, I think, is not the world's leading digital virtual currency. Currently, some countries do not accept Bitcoin, which is a bad luck for Bitcoin. And there are now many other digital coins, competing with Bitcoin. This is my opinion that everyone should contribute.

Granxis

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Quote from: romanovst on March 09, 2018, 07:06:38 AM

Quote from: mahilchii on March 09, 2018, 06:50:48 AM

Yeah, we can say in that way also "Bitcoin is a digital dollar". But as per the growth, technology and concept Bitcoin is awesome and dollar is just a paper which will lose its value once Bitcoin is accepted by everyone in the planet. In terms of potential, safety, security, anonymous and decentralised one Bitcoin is the best and the greatest of all currency or crypto.

The benefits you mentioned are certainly there but what about the practical aspect. Will a roadside food stall accept bitcoins ? Will you be able to buy vegetables from a local seller for bitcoins. All of them do not have access to internet of a bitcoin wallet to receive the money. Even if you find someone with these resources, is bitcoin practical for small transactions. Consider buying a packet of milk, paying by bitcoin and then waiting for 30 minutes to get the transaction confirmation.

Bitcoin needs to be developed for everyday use, frankly I always defend that Bitcoin should be used as a payment tool, but I do not think so anymore, because I have lost hope. The length of confinement periods and the high fee fee are not obstacles, but the biggest obstacle is that Bitcoin is not developed in this respect.

GoldnOil

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what Bitcoin should be is being confused with what it is now... Right now it is Digital Asset (a commodity) which is very volatile. Not many people own it out there... To act like a currency bitcoin has to have less volatility and be a reference standard for pricing daily consumer goods. That I really don't see in near future...

Its a great concept and thousands of ppl want to get their hands on it which means it has a great potential on upside and I won't be surprise if it crosses $50K this year.............

romanovst

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Quote from: mahilchii on March 09, 2018, 06:50:48 AM

Yeah, we can say in that way also "Bitcoin is a digital dollar". But as per the growth, technology and concept Bitcoin is awesome and dollar is just a paper which will lose its value once Bitcoin is accepted by everyone in the planet. In terms of potential, safety, security, anonymous and decentralised one Bitcoin is the best and the greatest of all currency or crypto.

The benefits you mentioned are certainly there but what about the practical aspect. Will a roadside food stall accept bitcoins ? Will you be able to buy vegetables from a local seller for bitcoins. All of them do not have access to internet of a bitcoin wallet to receive the money. Even if you find someone with these resources, is bitcoin practical for small transactions. Consider buying a packet of milk, paying by bitcoin and then waiting for 30 minutes to get the transaction confirmation.

Mokter

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Quote from: giogio0504 on February 19, 2018, 04:06:57 AM

Not a dollar, but digital currency

we cannot compare it to dollar, it is quite different system.

Yes, indeed. Dollar and bitcoin are quite different due to their features.Where dollar is a traditional currency with centralized nature, bitcoin is a crypto currency based on block chain technology with decentralized nature. I would describe bitcoin simply as digital payment system.

kirito1614

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Indeed we can state bitcoin as advanced dollar as the dollar is the global cash promotion all around worthy for everything like this the bitcoin is likewise exceptionally important and acknowledged worldwide and what's to come is brilliant now the most master of the crypto have guage the bitcoin future and this will be the greatest year for crypto on the grounds that now the time is the bitcoin and computerized cash period so the reality of the matter is that the bitcoin is advanced dollar.

mahilchii

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Yeah, we can say in that way also "Bitcoin is a digital dollar". But as per the growth, technology and concept Bitcoin is awesome and dollar is just a paper which will lose its value once Bitcoin is accepted by everyone in the planet. In terms of potential, safety, security, anonymous and decentralised one Bitcoin is the best and the greatest of all currency or crypto.

ApprehensiveAnalysis

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MMA

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Quote from: dvbcrypto on March 08, 2018, 11:31:08 PM

In my opinion it is not dollar, but it is a crypto grown in the belief of investors and development based blockchain technology.

Bitcoin is not like dollar nor like any other crypto currency, Although different people will consider bitcoin like their own currency, for example i will say that bitcoin is Rupee, but i think that fact is that bitcoin has its own status and its own identity and we cannot compare bitcoin with any other crypto currency.

durgeshjishri

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Quote from: MrJake on February 18, 2018, 12:51:51 PM

I think it's not far if i say that dollar and bitcoin are actually the leaders of their platforms. What's also crazy is how this forum served as the source of consumers and a big factor in increasing the acceptability of bitcoin by people. Really the design and everything about this community is genius.

yes,in present scenario its not wrong to say that,bitcoin is equivalent to dollar in this virtual world of internet.

BitChief

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Quote from: dvbcrypto on March 08, 2018, 11:31:08 PM

In my opinion it is not dollar, but it is a crypto grown in the belief of investors and development based blockchain technology.

I think the current reality is that while payments in crypto are still difficult as not many retailers accept crpyto. Bitcoin is already the dollar in the context of the crypto markets, it is the most trusted cryptocurrency and when markets fall money flows to bitcoin.

dvbcrypto

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In my opinion it is not dollar, but it is a crypto grown in the belief of investors and development based blockchain technology.

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