Bitcoin to replace fiat - page 6. | Bitcointalksearch.org

Ozero

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Quote from: tomahawk9 on February 22, 2019, 05:54:26 PM

People need to stop spreading this dumb narrative. Bitcoin it's not going to replace fiat money, ever, the banks won't allow it, and the governments around won't allow it. What's going to replace paper money is electronic money, digital transactions, the increase in use of debit cards and other forms for spending electronic funds. If anything Bitcoin will be an alternative for payments so that merchants around the world can also accept btc.

Btw, what you're saying in the OP has nothing to do with the title, but just so you know, the blockchain technology won't help to get rid of all the problems and issues and debt a country has.

Absolutely agree with you. Bitcoin, like any decentralized cryptocurrency, can never replace fiat with itself. This is impossible in principle, since a decentralized cryptocurrency is simply not intended for this. It does not have any connection with the economy of a particular state, so no government will ever agree to abandon its national money in favor of decentralized cryptocurrency. A crypto-currency will only go in parallel with the national money of the states, otherwise it will unbalance the economy of any state.

shesheboy

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Quote from: pixie85 on February 24, 2019, 03:25:50 PM

I don't think that most of the community believes in the world currency scenario for Bitcoin. It's much more probable that it will coexist with fiat especially when a lot of the world is not tech savvy and has no access to the Internet.

Majority of the country nowadays are now improved even the poorest ones like africa . they now have access to advance infrastracture such as internet because internet is verry important and it will be useful in our daily lives .

But im not saying that bitcoin can surpass the use of fiats . bitcoin is only an alternative currency next to fiat that is verry useful online .

Quote from: XCANA on February 24, 2019, 03:31:09 PM

Though Bitcoin may be the future currency but will not replace fiat.

If bitcoin wont replace fiat then why call it a future currency ? Its just wrong and sounds awful . we can instead call bitcoin as the internet of money because that more suites it .

Razerglass

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Quote from: Hannahanto on February 24, 2019, 05:30:01 PM

Quote from: bitcoin_diamond on February 22, 2019, 03:04:07 PM

In this history of mankind any kind of innovation to solve something has always benefited it does however takes its own time to fix things .. look at those trillion dollars of debt in u.s if they don't pay the entire country goes into bankruptcy and this not only affects one country but several others will be down along with it .. we need robust technology to solve such things if humans keep using paper money it will not only cause problems to the country but to its own people. adoption of block chain is very important in near future. lets see how much we care .. if Government really needs to solve their debt issues blockchain is the only way out to convert their useless fiat to valuable blockchain technology it will not only help to crush fiat and pay of trillions it will help to rescue the majority of countries in Asia and worldwide. Bitvoin uaŕç-

Yes, the drive seems to be towards it. Number of bitcoin users have increased. Fiats circulation is going to in Demand. This has become a true coldwar biycoin

Maybe, other alternative current monetary and fiscal system but i doubt this will start with bitcoin. There are better alternatives that can solve problems created by older generations but crypto payments era will boost this process like fuel in fire. Blockchain solutions will bring alternative ideas and these ideas can be a feasible solutions in case of another upcoming crisis.

Hannahanto

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Quote from: bitcoin_diamond on February 22, 2019, 03:04:07 PM

In this history of mankind any kind of innovation to solve something has always benefited it does however takes its own time to fix things .. look at those trillion dollars of debt in u.s if they don't pay the entire country goes into bankruptcy and this not only affects one country but several others will be down along with it .. we need robust technology to solve such things if humans keep using paper money it will not only cause problems to the country but to its own people. adoption of block chain is very important in near future. lets see how much we care .. if Government really needs to solve their debt issues blockchain is the only way out to convert their useless fiat to valuable blockchain technology it will not only help to crush fiat and pay of trillions it will help to rescue the majority of countries in Asia and worldwide. Bitvoin uaŕç-

Yes, the drive seems to be towards it. Number of bitcoin users have increased. Fiats circulation is going to be in Demand. This has become a true coldwar bitween fiats and crypto .

XCANA

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Quote from: qtronix on February 23, 2019, 05:25:40 PM

Bitcoin is a good replacement for Fiat money. I think that in the future bitcoin will compete with them, they will be able to coexist together and perhaps when that, cryptocurrencies replace national currencies.

Though Bitcoin may be the future currency but will not replace fiat. These coins are to complement each other rather than replacement. There are no rooms provided for the digital currency to take the place of the fiat because fiat will be need to trade with. Just my own opinion and not another.

pixie85

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Quote from: blackhawkeye1912 on February 24, 2019, 03:07:21 PM

Quote from: geminiboy on February 22, 2019, 04:02:43 PM

then what does the block chain have to do with the state what you mean, blokchain is a technology for crypto currency transactions and storage, so it has nothing to do with being able to help resolve state debt

Honestly, most of the community right now here believed that Bitcoin has the capacity to become the word currency, even some of the experts believed on this matter too. And for my opinion, blockchain can give a big help to any country especially to prevent corruption in the government,and for sure the economy of each country will increase in the near future.

I don't think that most of the community believes in the world currency scenario for Bitcoin. It's much more probable that it will coexist with fiat especially when a lot of the world is not tech savvy and has no access to the Internet. Bitcoin will rather become an alternative payment system and a store of value like gold.

logicgate

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Quote from: naufals4 on February 24, 2019, 09:27:41 AM

Quote from: bitcoin_diamond on February 22, 2019, 03:04:07 PM

In this history of mankind any kind of innovation to solve something has always benefited it does however takes its own time to fix things .. look at those trillion dollars of debt in u.s if they don't pay the entire country goes into bankruptcy and this not only affects one country but several others will be down along with it .. we need robust technology to solve such things if humans keep using paper money it will not only cause problems to the country but to its own people. adoption of block chain is very important in near future. lets see how much we care .. if Government really needs to solve their debt issues blockchain is the only way out to convert their useless fiat to valuable blockchain technology it will not only help to crush fiat and pay of trillions it will help to rescue the majority of countries in Asia and worldwide.

yeah bitcoin will definitely replace Fiat, because the future is a digital era where all use of technology. now there are many payments through qr code etc. so bitcoin is a good solution for that

This time is not so far now because we can see the progress of crypto currency in our life and it is improving now further, people feel safe using bitcoin for online shopping than taking too much money along with them, I personally feel safe using crypto currency specially bitcoin which is now being accept all over the world and it is future global currency I am sure.

blackhawkeye1912

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Quote from: geminiboy on February 22, 2019, 04:02:43 PM

then what does the block chain have to do with the state what you mean, blokchain is a technology for crypto currency transactions and storage, so it has nothing to do with being able to help resolve state debt

Honestly, most of the community right now here believed that Bitcoin has the capacity to become the word currency, even some of the experts believed on this matter too. And for my opinion, blockchain can give a big help to any country especially to prevent corruption in the government,and for sure the economy of each country will increase in the near future.

PeRo

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Bitcoin can't replace fiat and just because one reason, it is decentralised so the goverment can't control it, that's why it is banned in several countries. But Bitcoin is going good in the path of adoption and it is accepted by more and more companies, local shops, in a few years we will be able to use Bitcoin daily without much problems.

SiDtHeBeSt

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Like how can blockchain pay back State debts ? Were you stoned while making the Post xD? And Bitcoin isn't replacing Fiat anytime soon ,sorry not in a very long time. Bitcoin isn't very stable and the prices fluctuate highly and can't be used as Fiat money is used.

davit putra

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I think bitcoin is not a way to reduce debt, and how if prices fall low, won't that make the economy more volatile.

Vaskiy

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Quote from: Capt00 on February 24, 2019, 09:52:37 AM

Quote from: kiansantan on February 24, 2019, 09:34:56 AM

It still takes a long time to realize bitcoin replaces fiat. There are still many things that must be taken into account. One of them is the legality of bitcoin in each country.

Nothings different thing if you've chosen them both instead of selecting just only one currency. Bitcoin currency is a digital form of money you can use this in internet transactions only, while paper/fiat money can use to buy small stuff. They are both useful and have pros and cons and I think as of now bitcoin will remain Bitcoin currency not a fiat.

As stated there is always good and bad with cryptocurrency as well as with the paper money. For some reason most of the users will be having bitcoin as an added service to the fiat system that we're using it throughout. This lets bitcoin to be an alternate to the fiat system and the same never gives a way to go mainstream.

MonaLeeTracy

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I think that if bitcoin really wants to replace fiat money, it's likely to be quite difficult. because fiat ung certainly cannot be replaced by coins or others.

Capt00

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Quote from: kiansantan on February 24, 2019, 09:34:56 AM

It still takes a long time to realize bitcoin replaces fiat. There are still many things that must be taken into account. One of them is the legality of bitcoin in each country.

Nothings different thing if you've chosen them both instead of selecting just only one currency. Bitcoin currency is a digital form of money you can use this in internet transactions only, while paper/fiat money can use to buy small stuff. They are both useful and have pros and cons and I think as of now bitcoin will remain Bitcoin currency not a fiat.

kiansantan

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It still takes a long time to realize bitcoin replaces fiat. There are still many things that must be taken into account. One of them is the legality of bitcoin in each country.

naufals4

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Quote from: bitcoin_diamond on February 22, 2019, 03:04:07 PM

In this history of mankind any kind of innovation to solve something has always benefited it does however takes its own time to fix things .. look at those trillion dollars of debt in u.s if they don't pay the entire country goes into bankruptcy and this not only affects one country but several others will be down along with it .. we need robust technology to solve such things if humans keep using paper money it will not only cause problems to the country but to its own people. adoption of block chain is very important in near future. lets see how much we care .. if Government really needs to solve their debt issues blockchain is the only way out to convert their useless fiat to valuable blockchain technology it will not only help to crush fiat and pay of trillions it will help to rescue the majority of countries in Asia and worldwide.

yeah bitcoin will definitely replace Fiat, because the future is a digital era where all use of technology. now there are many payments through qr code etc. so bitcoin is a good solution for that

gilangIDR

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Quote from: pawanjain on February 24, 2019, 08:17:19 AM

I don't think bitcoin is anywhere there to replace fiat. I think both fiat and bitcoin has it's own importance and community support in the financial market.
According to me both should walk side by side eliminating any obstacles that come their way.
I still wonder how would the debt be cleared if bitcoin is adopted worldwide. Can you please elaborate further on this statement.

Yes we should be able to become Bitcoin and Fiat as an adjoining currency. There is no perfect financial system so that each has its advantages and disadvantages. Take advantage of any excess that exists and we can do a good synergy between Bitcoin and fiat as a support in a financial system every day.

Ezio_Auditore

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if this happens, it will not happen soon enough. It will take a huge amount of money. Also, a lot of people will not support this decision. Perhaps in 50-100 years this will be possible.

pawanjain

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I don't think bitcoin is anywhere there to replace fiat. I think both fiat and bitcoin has it's own importance and community support in the financial market.
According to me both should walk side by side eliminating any obstacles that come their way.
I still wonder how would the debt be cleared if bitcoin is adopted worldwide. Can you please elaborate further on this statement.

r1s2g3

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Will any government will readily agree for this? I do not think any government will scrap their own currency and will gladly start accepting bitcoins.
Both are going to co exist because user will like the "freedom" and "anonymous" character of BTC and will continue to use it.

Topic: Bitcoin to replace fiat - page 6. (Read 16033 times)