Topic: Bitcoin replaces the money? Could happen? - page 6. (Read 86028 times)

I agree with your point of view. Never will not happen. For example, gold is not a substitute for money, though it is also very valuable. And Bitcoin and Fiat will exist together

It will not happen. We all grow up using money,then suddenly it will be replace by bitcoin.i dont like it. Bitcoin is for online payments only

What do you mean by we can do a transaction with a mobile device in future? Are you talking about bitcoin transaction? We can do that right now with a mobile device as well, i don't really get the concept of your statement.

It will take atleast 10 years till the we achieve those moment, sure almost all people does have a phone, but internet at some countries are expensive, because its new, anyway over the time i do believe we will be doing almost everything online.

In the future, online transaction will be for more than 90% of all the transaction. You can do one with a mobile device.

Sorry but I cannot agree to that statement, bitcoin is good as a digital currency but it has only limited function which is solely for online transaction, fiat are government regulated currency and it give us an assurance that we are using a legal tender that will protect the interest on both transacting party.

Bitcoin itself is a money so we cannot use that terms but if you are saying about fiat them I think it will replace the use of fiat but will not be a source to disappear fiat. Fiat will remain in existence.

bitcoin or any digital currency has the potential to replace the fiat currency but it might take a while in order that to happen,it is not easy as you think ,right now we are using debt and credit cards for purchasing ,but people are still using paper currency to purchase goods and not every shop accepts debit or credit card,when everything becomes digital then we can think about replace paper currency

Well come to think of it, it's possible that time will come when bitcoin would be at the same level of use as paper money. Not to replace it though, but to be an equal option to fiat.

You are right! It is only good in online transactions which if that store will accept bitcoin as payment unlike in real life we cant say that all of the stores accept bitcoin as payment because most of the vendors doesnt know bitcoin. Well we are also in our fiat because we do exchange our money to our own fiat to buy some stuff

bitcoin also having smaller units such as satoshi,mbtc,and ubtc that make bitcoin flexible and no need of any additional supply when these units could make you buy bitcoin with any amount of money,so the 21 millions supply is not going to be a real problem

maybe the question is is it possible to replace fiat bitcoin? perhaps it is meant by OP
What do you think ? I think this would be impossible you know ?

No chance. BTC will be max. 21 000 000. World, need more money

Yes you are right, both on the use bitcoin online. But in fact the use of bitcoin is still losing money. More money is needed in real use. It may be true that bitcoin can not replace the money. Bitcoin will grow in the online and the extent of crypto.

Bitcoin couldnt really replace  fiat money  anytime soon  since  bitcoin is  only  good  on  online transaction  or on other  physical  purchases which uses  a  physical bitcoin but still people would prefer to  use  up paper currency  hence this is  being used  for how many years    by  people all  over the world and  as we all now that bitcoins adoption is not really  there   to consider this things.

yes in present time as bitcoin is not yest so much popular and majority of the people do not know about it. therefore most of the people are using fiat, but the number of bitcoin users are increasing continuously as it is more convenient that fiat therefore the trend is changing and people are giving importance to bitcoin specially those people who know the importance of bitcoin.

Its the first time a member here claims that Bitcoin is the worst investment from last year. I doubt it  as there won't be any people right now trading if that statement was true. Also a price like Bitcoin that also changes a lot of time makes the investor have the opportunity to buy low and sell high. Also there is a control on Bitcoin the fact that 21,000,000 Bitcoin can only be regulated in the world is a kind of control.

While bitcoin has been dubbed as the worst investment for last year, many enthusiasts still believe that the cryptocurrency can surpass fiat currencies as the main mode of payment around the world. Its scarcity and the use of the blockchain are its defining features but it could also be it source of weakness. Can bitcoin really replace the U.S. dollar or other currencies at some point?Fiat currencies draw their value from being backed by assets or by central banks. In contrast, bitcoin draws its value from scarcity in that there are only a limited number available in circulation or from mining operations. Bitcoin is not dependent on any change in value of underlying assets, such as gold or silver, but is backed by the basic market principles of supply and demand.Bitcoin vs. Fiat
In addition, there is no monetary authority that restricts or boosts the number of bitcoin available, unlike fiat currencies whose levels can be controlled by central banks. There is lower uncertainty associated to this, as bitcoin can’t be used to control inflation or economic growth.The decentralized nature of bitcoin is seen as its main advantage over typical currencies. Bitcoin holders can have full control over their finances, with encryption and automation technologies being enhanced these days. However, it is also this decentralized nature that makes bitcoin prone to security threats and hacking incidents, which have resulted to the loss of funds and the shutdown of some exchanges worldwide.Using bitcoin can transform the global payments arena into an open-source one, which means that its increased adoption can also drive up its value. More and more online merchants and large companies are opening up to the idea of accepting bitcoin payments while clients are also enjoying better transparency, lower costs, and quicker transactions on these.

Haha yea right bitcoin is a money itslelf.It is a currency and has a value in market and can be used to buy many things online so bitcoin being itself money and there are many forms of money as fiat currency paper money and i think any form of money cannot replace each other.

Maybe wrong thread title or OP means bitcoin will replace fiat. Let's just understand because we are smart enough I guess. Anyway, there's no chance bitcoin will replace money because money is a very powerful currency, and for me it is tantamount to saying humanity will be replace by robots.