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Topic: Bitcoin simply cannot replace fiat - page 5. (Read 7201 times)

newbie
Activity: 31
Merit: 0
November 30, 2013, 10:28:53 AM
#13
It will. But, It will take some time. Give it 100 years.
full member
Activity: 210
Merit: 100
Crypto News & Tutorials - Coinramble.com
November 30, 2013, 10:09:00 AM
#12
Well it will remain as an alternative to fiat, since 25% of the adult population of world is Illiterate. They can't even read numbers, how would they handle virtual wallets.

Nice article there btw John.

People used money long before they invented writing.
It wasn't fiat money, not even gold, but rather other mediums of exchange, such as neck-lets and shells.

In Africa smartphones are now more abundant than electricity.
I wouldn't worry too much about Bitcoin adoption in regards to the 3rd world. If anything, they'll benefit from it the most, as a way to evade their ruthless dictatorships.
Personally I want the Bitcoin to turn into a universal currency, but it's just it doesn't seem possible.
legendary
Activity: 1148
Merit: 1014
In Satoshi I Trust
November 30, 2013, 09:19:56 AM
#11
Bitcoin does not need or want to replace fiat.
member
Activity: 182
Merit: 10
November 30, 2013, 06:23:57 AM
#10
Fiat will die, but most of the legacy payment infrastructure will survive, at least for a few years. For most people, the transition to Bitcoin will be effortless, or nearly so, because banks will start offering all of their services in Bitcoin (for a fee), the most important services being storage and debit cards for use at points of sale.

Fiat will die, but most of the legacy payment infrastructure will survive, at least for a few years. For most people, the transition to Bitcoin will be effortless, or nearly so, because banks will start offering all of their services in Bitcoin (for a fee), the most important services being storage and debit cards for use at points of sale.


In the end, the only reason fiat works is that it is coercive. Government requires taxes paid in legal tender, and that is how banks control government and serf alike.

Government will have to accept BTC for the whole thing to cycle properly. Though they accepted slikroads quickly enough and if the banks take it up the gov will too I imagine.
newbie
Activity: 14
Merit: 0
November 30, 2013, 04:45:07 AM
#9
I think it can never replace fiat. I only hope one day it will live in peace together with other payment methods. I see cryptocurrency like some NFC chip, or bankcard.
member
Activity: 92
Merit: 10
November 30, 2013, 04:43:05 AM
#8
Fiat will die, but most of the legacy payment infrastructure will survive, at least for a few years. For most people, the transition to Bitcoin will be effortless, or nearly so, because banks will start offering all of their services in Bitcoin (for a fee), the most important services being storage and debit cards for use at points of sale.
member
Activity: 182
Merit: 10
November 30, 2013, 04:25:04 AM
#7
haha , wrong

see even if bitcoin can't some crypto will fill the gap, between store of wealth crypto and daily small buy crypto.


Eg see emunie EMU.


I went to their site and none of the pages will load.

Am I obsolete or are they still in start up or what?




edit- I have other issues with btc for sure but the OP article is just stupid... as mentioned things like "fiat will stay because everybody is used to it" are anachronisms for morons. Everything is changing and if you can't see that your opinion is not persuasive in my book. Aside, I've lived on almost entirely digital USD for ~5 years now, only ever use cash to tip for service. 99% of USD is already digital, only difference being a couple dozen jagoffs who own it can donate themselves 85 billion a month for nothing and call it capitalism with a straight face.




member
Activity: 60
Merit: 10
November 30, 2013, 04:22:36 AM
#6
Well it will remain as an alternative to fiat, since 25% of the adult population of world is Illiterate. They can't even read numbers, how would they handle virtual wallets.

Nice article there btw John.

People used money long before they invented writing.
It wasn't fiat money, not even gold, but rather other mediums of exchange, such as neck-lets and shells.

In Africa smartphones are now more abundant than electricity.
I wouldn't worry too much about Bitcoin adoption in regards to the 3rd world. If anything, they'll benefit from it the most, as a way to evade their ruthless dictatorships.
legendary
Activity: 2674
Merit: 1029
November 30, 2013, 04:11:05 AM
#5
haha , wrong

see even if bitcoin can't some crypto will fill the gap, between store of wealth crypto and daily small buy crypto.


Eg see emunie EMU.
http://forum.emunie.com/
full member
Activity: 210
Merit: 100
Crypto News & Tutorials - Coinramble.com
November 30, 2013, 04:06:46 AM
#4
Well it will remain as an alternative to fiat, since 25% of the adult population of world is Illiterate. They can't even read numbers, how would they handle virtual wallets.

Nice article there btw John.
member
Activity: 84
Merit: 10
November 30, 2013, 03:53:11 AM
#3
The only way bitcoin will take over fiat if those little countrys start using it and other countrys catch on
legendary
Activity: 896
Merit: 1006
First 100% Liquid Stablecoin Backed by Gold
November 30, 2013, 03:47:30 AM
#2
Replace the word bitcoin and fiat in that article with cars and horses, fax machine and letters, tv and live entertainment, computers and pen & paper, smartphone and ehh whatever ...  By now it should sink in.
b!z
legendary
Activity: 1582
Merit: 1010
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