Topic: Bitcoin replaces the money? Could happen? - page 41. (Read 86047 times)

Nope, not necessarily. Existing people and banks can just shift to bitcoins.
Bitcoin adoption would of course result in more global trade and higher employment, but there is no 'need' to hire more people.

Yes ,it is true that if it happens they will need real banks and more people ,but the disadvantage are ,bitcoins will be stable price and it will have a tax on a government . The better is to remain bitcoins only as online currency .

agree with you dude bitcoin will not replace any currency countries will always defend their currencies. the government only took proscribing bitcoin in the country and all already ends ?
maybe I would think as a payment option

i am always skeptical about this. i believe bitcoin is on the right path to get popular and reach that mass adoption stage that everybody is talking about but i don't think people (the majority of them at least) will ever leave fiat behind so it can never be replaced by anything like bitcoin.

Bitcoin is not going to replace any money at the moment they have to be able to manage allot of people if they want to do that. They also have to make some real banks and hire more people to come work for them.

The number of people using the bitcoin has risen over the past few years, so is the price. When the price rises, more people will use it.

Bitcoin will be just another kind of money and you also can see now indeed that the Bitcoin is rising slowly in the value and also in using so that is perfect for the currency.
The only bad thing is that you are not for sure what will happen with the value later in the future so that is the most risky thing also of the Bitcoin.

Bitcoin cannot be used everywhere right now, but in future it will we widely accepted as a mode of payment, but it will never replace fiat for sure.

It will take many years for the bitcoin to be a main stream payment method. I only use bitoin for less than 1% of my payment.

Governments & Large institutions aren't stupid.

They can simply create their own controlled blockchains, they've 0 need whatsoever to opt in to some already distributed decentralized token ledger system.

So without their stamp of approval, no, trustless decentralized publicly-distributed 'libertarian' cryptocurrencies such as BTC cannot get 'legal tender' status[recognized officially as money for all payments of debts, goods, services, by the State itself]. Meaning they don't replace money.

But.

For a decentralized cryptocurrency w/ a well-established network effect, such as BTC, to achieve one or two major orders of magnitude of mass adoption, can happen without government support &/or 'officially approved as legal tender' status.

How?

Simple :

1] [Demand] Create a zeitgeist movement convincing/marketing to the mainstream public that banks are not safe, not your friend, they control your funds and you have little recourse, whereas trustless crypto like Bitcoin allows you to have full control, be your own bank.

2] [Security] Make wallets & payment gateways/crypto website GUI's a lot safer to use, idiot-proof, insured, and user-friendly/less technical-inclined.

3] [Access] Last but not least, exploit most people's laziness by paying them in BTC instead of fiat. Now that you have tens, possibly hundreds of millions of employees being paid in Bitcoin for their regular job's income, as long as there is even more merchant adoption for them to freely, easily spend their BTC at - Will they bother switching their 'crypto paycheck' every 2 weeks, back into fiat..? Of course not. They don't buy BTC right now because their main sources of income come in fiat. The minute you switch this around - they receive payment in BTC instead, on a regular basis - then they don't bother swapping it to fiat. Boom. You just created a self-reinforcing Bitcoin mass adoption feedback loop.

Nothing will change because there is always real gold. Don´t know why he would disappear but if the coin does he will only come back stronger. There is no way he will disappear i know for sure. he only will grow

Yes it looks like bitcoin will not be able to replace the money for his own bitcoin has no form. Embodiment of a medium of exchange is money and digital currency bitcoin is and can only be used on the internet only.

I think it will not happen, the popularity of paper money has pass through many centuries, and no other currency will ever replace it.
Yes bitcoin is popular right now, but is it the base that we will replace our own paper money? 

Yes probably right because bitcoin and money are very different and are not interconnected. Although bitcoin will be very advanced and developed in the future but will not affect any of that money.

Bitcoin will be bigger in future for sure, but it don't hold that power to replace or disappear paper money, as paper money is still more popular everywhere.

No I do not think this is gonna happen, other currency's are just way to big compared with other currency's in my eyes.
This is just not possible and unrealistic.

I think we could use bitcoin as a currency in our country; watching my manager have stress because of the local currency rates fluctuating up and down really is concerning because we buy goods from our suppliers from overseas. Bitcoin could help solve the problem. This is the only currency which has the tendency to spread worldwide without any issues 

It will not replace the money and Bitcoin will be just another kind of money and that is really nice because more people will also get to know about it so that is nice.
But it has also to be more worth soon in the future so we can have huge profit with it and that is perfect.

Yeah thats not gonna happen thats a big dream for a crypto currency to fulfill i cant really imagine how could digital money  can replace real physical money while bitcoins is anonymous it has no rule or law implemented about it and government wont allow someone will take over their physical money because it is their symbol of economic strength and bitcoin cannot give it to them, bitcoin really is not good idea to invest in the long run because we never knew what will happen to it in the future.

Yeah maybe you're right, fiat will be strengthened as the development time. And it makes bitcoin could not compete with the money because the money is a necessity that must exist in every person.