Bitcoin replaces the money? Could happen? - page 36.

expert4knowledge

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Quote from: praprata on July 12, 2016, 04:24:10 AM

No I do not believe that the Bitcoin is ever going to replace money because there are to many currencies for that to happen maybe Bitcoin will take over one currency from a certain country.
Even that is hard to believe that it will happen, Bitcoin has to just stay a crypto currency.

I think bitcoin neither becomes a currency and can replace money nor it can be used in a country as a currency sine it is very unstable and has n supporter.

Doamader

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There are several places to spend our bitcoins being purchasing online some products we wanna or casinos and exchanges, currently just some people exchange their bitcoins to fiat, as they wanna apply them into savings or pay some bill ahead.

mobilestrike

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Quote from: noormcs5 on July 12, 2016, 04:59:47 AM

Quote from: praprata on July 12, 2016, 04:24:10 AM

No I do not believe that the Bitcoin is ever going to replace money because there are to many currencies for that to happen maybe Bitcoin will take over one currency from a certain country.
Even that is hard to believe that it will happen, Bitcoin has to just stay a crypto currency.

Right, bitcoin never and ever need to convert into the fiat currency, because if bitcoin has a plan to convert into money in future, so why bitcoin is coming?
I am 100% sure the day will never come when bitcoin will do it.

yeah, bitcoin is not for to convert in fiat, but it is a currency and came here to be used for online transactions etc, and nowadays some people are readily converting their bitcoins to fiat because they do not find any place where they can spend them , I think in the future they will get full facilities for that.

greBit

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Quote from: trickshot22 on July 14, 2016, 04:11:05 PM

Quote from: Vhern on July 14, 2016, 03:39:00 PM

It is possible to happen if the government allow it when human is more rational and logical being.
If the possibilty of it to this century is less likely to happen I suppose 2%

of course this will happen at some point in the future because people will no longer use banks in order to avoid all the deposits they need to do in order to have their money save

People will never stop using services from banks even if bitcoin gets on the mainstream, people will prefer to use both of them, as there are some facilities that only banks can offer.

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Quote from: Vhern on July 14, 2016, 03:39:00 PM

It is possible to happen if the government allow it when human is more rational and logical being.
If the possibilty of it to this century is less likely to happen I suppose 2%

of course this will happen at some point in the future because people will no longer use banks in order to avoid all the deposits they need to do in order to have their money save

155UE

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Bitcoin can not replace money because it does not have the proper backing. With money you know the federal government backs it so it will not fail unless the government fails. And by that time we will have much bigger problems than money to contend with like medical and resources that sustain us to live.

fkvidar

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We very well know that we cannot use bitcoin directly anywhere to purchase physical things, we need to convert it to fiat first, same will be scenario in future as we cannot expect that each and every country will adopt bitcoin.

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Quote from: lionheart78 on July 14, 2016, 03:11:39 PM

I don't think bitcoin can replace money for several grounds. One of which is the feature of Bitcoin being decentralized. Government will not accept this kind of stuff since all they want is the control over the monetary system of its country. Second is if ever government is into using a cryptocurrency, they will rather create their own than use Bitcoin because of the unfair advantage of the early adopter of Bitcoin. This will threaten the country's economy because of those few who own large amount of Bitcoin. So the government will rather create a new digital currency and adopt it that using bitcoin.

A good government has a good reason why they must put some laws and terms about the usage of bitcoin in their country.

It will be used as part of the main spending source of one country so if ever most of people will use bitcoin, how's now the revenue of one's country?

That's why I don't like too much adoption so that we can affect much to the minimalization of per country's income.

Vhern

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It is possible to happen if the government allow it when human is more rational and logical being.
If the possibilty of it to this century is less likely to happen I suppose 2%

lionheart78

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I don't think bitcoin can replace money for several grounds. One of which is the feature of Bitcoin being decentralized. Government will not accept this kind of stuff since all they want is the control over the monetary system of its country. Second is if ever government is into using a cryptocurrency, they will rather create their own than use Bitcoin because of the unfair advantage of the early adopter of Bitcoin. This will threaten the country's economy because of those few who own large amount of Bitcoin. So the government will rather create a new digital currency and adopt it that using bitcoin.

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Quote from: greBit on July 13, 2016, 09:37:46 AM

Quote from: bitlancr on July 13, 2016, 09:35:20 AM

Quote from: praprata on July 12, 2016, 04:24:10 AM

No I do not believe that the Bitcoin is ever going to replace money because there are to many currencies for that to happen maybe Bitcoin will take over one currency from a certain country.
Even that is hard to believe that it will happen, Bitcoin has to just stay a crypto currency.

Do you really think that the Bitcoin is ever going to replace money that is not happening because Bitcoin has not even been around for that long.
So may countries would not agree with that idea, Bitcoin needs to stay in it's own lane is what I think.

Yeah and if bitcoin wants to replace money then it will need support from the Government which is never gonna happen, bitcoin is not that strong that it can replace any major currency.

I agree with you,i have few friends who actually are getting over-excited about bitcoin for some reason,
and they just think that it is some "magic crypto" which will erase the banks,government will pick btc as primary currency,etc.
All of that is just not possible.

greBit

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Quote from: bitlancr on July 13, 2016, 09:35:20 AM

Quote from: praprata on July 12, 2016, 04:24:10 AM

No I do not believe that the Bitcoin is ever going to replace money because there are to many currencies for that to happen maybe Bitcoin will take over one currency from a certain country.
Even that is hard to believe that it will happen, Bitcoin has to just stay a crypto currency.

Do you really think that the Bitcoin is ever going to replace money that is not happening because Bitcoin has not even been around for that long.
So may countries would not agree with that idea, Bitcoin needs to stay in it's own lane is what I think.

Yeah and if bitcoin wants to replace money then it will need support from the Government which is never gonna happen, bitcoin is not that strong that it can replace any major currency.

bitlancr

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Quote from: praprata on July 12, 2016, 04:24:10 AM

No I do not believe that the Bitcoin is ever going to replace money because there are to many currencies for that to happen maybe Bitcoin will take over one currency from a certain country.
Even that is hard to believe that it will happen, Bitcoin has to just stay a crypto currency.

Do you really think that the Bitcoin is ever going to replace money that is not happening because Bitcoin has not even been around for that long.
So may countries would not agree with that idea, Bitcoin needs to stay in it's own lane is what I think.

Colt22

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I will want to know that what do you mean by replacing money by bitcoin? as bitcoin is also a form of money how can a money replace money,

I think you mean bitcoin replace fiat, if yes then I will say in the system the bitcoin has chances that it over-ride other currencies but fiat will have their own value and people will like their nations' currency.

craked5

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I wouldn't say could, but should!

It should replace current money, because it's not controled by banks and god it's an argument good enough to keep it!

noormcs5

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Quote from: praprata on July 12, 2016, 04:24:10 AM

No I do not believe that the Bitcoin is ever going to replace money because there are to many currencies for that to happen maybe Bitcoin will take over one currency from a certain country.
Even that is hard to believe that it will happen, Bitcoin has to just stay a crypto currency.

Right, bitcoin never and ever need to convert into the fiat currency, because if bitcoin has a plan to convert into money in future, so why bitcoin is coming?
I am 100% sure the day will never come when bitcoin will do it.

praprata

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No I do not believe that the Bitcoin is ever going to replace money because there are to many currencies for that to happen maybe Bitcoin will take over one currency from a certain country.
Even that is hard to believe that it will happen, Bitcoin has to just stay a crypto currency.

Doamader

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Fiat wont be replaced by bitcoin never, this isnt the question at all i believe, bitcoin will be mass adopted, atleast is the expectation around it, we will reach digital moment where bitcoin and fiat will be used to do all transactions.

Ravion

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Bitcoin will probably be widely used as a method of payment, but it's difficult for it to replace all other forms of money that are being used. People have been using traditional forms of money for thousands of years, and they wouldn't easily put such trust in a form of money that's very new and different. Most people in the world haven't even heard of bitcoin yet.

stromma44

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Quote from: MaritiJames3 on July 05, 2016, 09:34:16 AM

Quote from: jak3 on July 05, 2016, 08:42:15 AM

i think bitcoin can replace the faint money but its actully a tricky question because it would be better if we your both as a mean of payment depending on the person's choise

Bitcoin is never going to replace money because the Bitcoin is not going to be able to manage that and there are many currencies so it is impossible to take over them all.
Bitcoin does not need to take over them all but it should focus on online websites and stuff.

Exactly bitcoin is good as an digital currency but it cannot replace any physical currency in future as the user of fiat are more in compare to bitcoin and it will continue same in future too.

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