BITCOIN: Threat to our Current Currency

levvv

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Quote from: ellabanana on December 02, 2017, 10:25:34 PM

Im new to this forum, so while reading to get information, I realized if it will succeed, we wont be needing cash anymore. Will it be a threat to our current currency which we used cash during payments?

bitcoin is not stable as other currency value. therefore, bitcoin still cannot be used for replacing the existing currency i guess.
but we dont know about what will happened in the future. This is still has a possibility to occur.

AurumService

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I hardly think that it`s a global threat. To me, it`s just an additional tool for earning money, an alternative to an existing currency. It`s too early to think that it`s a global threat. Bankers and financial specialists used to national currency. Moreover, Bitcoin and other cryptocurrencies are too volatile and for now there`s no certain regulations of this sector.

minthit

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I think it'll make more sense to think of it as an upgrade to current monetary system rather than a threat. Because security and convenience to use stands out pretty well.

zynan

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Bitcoin is just a new technology invented or just a new option to make our money transaction become fast and hassle-free. Don't label it as a threat for our current fiat money. We will still be using fiat money in our life because it is still the most approved currency in the world. Bitcoin is for investment to make our fiat money grow.

bjmpoker001

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Quote from: ellabanana on December 02, 2017, 10:25:34 PM

Im new to this forum, so while reading to get information, I realized if it will succeed, we wont be needing cash anymore. Will it be a threat to our current currency which we used cash during payments?

rest assured, we still need cash or other fiat currency because bitcoin price is still not stable.
before it stabled, it wont be used in our daily currency. imagine if we buy anything with money that the value is changing over time.

mabell943

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Actually there is no threat in the local or current currency in bitcoins because these local currencies are used as a medium to start a investment in the company of bitcoins.
The money is already attach in the government existence so you cannot do anything to destroy it, instead of being threatened used this as a advantage in the competition.

melonbtchunter

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Bitcoin can now be said to be different or reliable from other currencies. So it seems that it will not be threatened. Because there is no coin to leave it behind. Every investor knows that Bitcoin is a digital currency that relies on FIAT. Perhaps the question can be reversed, crypto can never be.

Samueltalk

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Digital currencies are different from fiat currencies because they have their own interests, digital currencies can not replace fiat currency or vice versa and bitcoin is a technology that is highly developed up to now, while fiat currency can make payments in life daily.

salihno71

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Currently there is a seemingly global trend to kill the cash and move all of the payment to electronic means. With this in mind, i'm more than happy that there is a way to transact which cannot be controlled by the governments or the banks. Without the cash, you're much easier to control.

farhaan

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Quote from: ellabanana on December 02, 2017, 10:25:34 PM

Im new to this forum, so while reading to get information, I realized if it will succeed, we wont be needing cash anymore. Will it be a threat to our current currency which we used cash during payments?

No,fiat currencies would get destroyed completely.Both fiat currency and bitcoin would co exist.Bitcoin might be used as a secondary currency.

Hannibalis

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I already don't like our current currency and that's a reason for me to support bitcoin. Anyway, bitcoin can't replace cash because it can't be used offline.

Lykslyks

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Quote from: moooonu on December 03, 2017, 01:43:32 AM

Cash and digital currency are two different things. There are still people all over the world who don't know about bitcoin also every country have its own currency and its own regulatory to keep its cash flowing.

True! It is a threat of course however i don't think that the government will let this affect their current currency that's why they don't educate people about bitcoin to prevent it from being used by the people. It will take some time before it could replace a country's currency because not everyone is into bitcoin and not everyone is interested about cryptocurrency.

HashieNewb

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Quote from: synapsisxxx on December 05, 2017, 01:29:34 AM

Bitcoin has a huge market cap, probably $200 billion as i write this. However this is literally nothing in comparison to BTCs primary competitors in the economic zone - USD and EURO. I do believe that cryptocurrency is the future, and there will be a time when every service and payment will be on blockchain or atleast paid with crypto. But this will take a long long time, decades. TLDR, cash isnt disappearing from the world anytime soon.

Bitcoin is a threat to the people that don't have it. It is also a threat to the people that are already rich.

bitcampaign

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I do not think if the fiat currency has been threatened by the existence of a new currency like bitcoin, but the currency that has been used in their country is still safe, since new digital currencies such as bitcoin are very difficult to replace the official currency, bitcoin indeed can take over for replacing the old currency like fiat and it depends on the government whether they will replace the fiat and use bitcoin as the new currency in their country or not

otandelapaz

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Quote from: ellabanana on December 02, 2017, 10:25:34 PM

Im new to this forum, so while reading to get information, I realized if it will succeed, we wont be needing cash anymore. Will it be a threat to our current currency which we used cash during payments?

I don't think so, not yet at least. Bitcoin, cryptocurreny in general today is not being use as a currency or a mode for payment for services or goods. It is more like being use a an "investment" because of it's appreciating value. People would rather keep/hold their crypto rather than "spend" it around. So, crypto replacing fiat is not realistic today.

ahmad21

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Quote from: ellabanana on December 02, 2017, 10:25:34 PM

Im new to this forum, so while reading to get information, I realized if it will succeed, we wont be needing cash anymore. Will it be a threat to our current currency which we used cash during payments?

Yes this decade would almost be the end of cash. We are surely going to see a cashless society after this decade but its not necessary that bitcoin is the answer or even crypto is the answer. You are new to the forum that is why you have such a view. As you will grow old here you will realize cryptos have endless flaws. These flaws makes it almost impossible to adopt crypto as our mainstream method for transactions.

synapsisxxx

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Bitcoin has a huge market cap, probably $200 billion as i write this. However this is literally nothing in comparison to BTCs primary competitors in the economic zone - USD and EURO. I do believe that cryptocurrency is the future, and there will be a time when every service and payment will be on blockchain or atleast paid with crypto. But this will take a long long time, decades. TLDR, cash isnt disappearing from the world anytime soon.

Tatalk

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Though BTC is continuously growing, yet it could not completely end up paper currency. Yes, I could agree with this fact that in the coming decades it could reduce the use of paper currency and in the coming future, digitalizing will come and even the people are also not willing to carry lots of money with them and this digital money provides some sort of ease, being used and carry by the person and even the continuously inflating valuation of cryptocurrency itself is a source of income and this could not easily be stolen. So being currency with benefits, it could reduce the use of paper currency but could not remove the paper currency.

joebrook

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Quote from: ellabanana on December 02, 2017, 10:25:34 PM

Im new to this forum, so while reading to get information, I realized if it will succeed, we wont be needing cash anymore. Will it be a threat to our current currency which we used cash during payments?

Actually we are going to be needing cash for a very long time, there is no way that the governments of the world will allow bitcoin and the other cryptocurrency be the only payment method in the entire world. And i really don't see the threat it poses to our economy nor our currencies.

whoisyourking

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Quote from: ellabanana on December 02, 2017, 10:25:34 PM

Im new to this forum, so while reading to get information, I realized if it will succeed, we wont be needing cash anymore. Will it be a threat to our current currency which we used cash during payments?

I dont think so, but if you are thinking what are the medium to use this currency like mobile phones, computer and internet. Not all country can implement this kind of currency to use or replace their physical money.

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