Bitcoin vs Fiat - page 2. | Bitcointalksearch.org

Aikidoka

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Sinbad Mixer: Mix Your BTC Quickly

Quote from: fargoway on August 23, 2018, 03:15:23 AM

Bitcoin is not able to replace fiat, at least now. I believe that there will be another cryptocurrency which would be able to replace traditional money because Bitcoin has a lot of issues as well. BTC is good, but it is too far from perfect.

Btw, I totally agree that Bitcoin is not an investment. It was created for other goals. Greedy people don't get that Angry

Well I do believe that bitcoin was created to oppose banks and corrupted governments. And yes, people now are seeing bitcoin as a source of money, and you cannot blame them. Most people need money. If their government does not give them the opportunity to work, then there are many other tools to get that done. Bitcoin has saved many people's lives. I do agree that some people are greedy but there also are people who are needy.

albert11

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I don't think so. We can assure everyone that bitcoin will last a lifetime.
Bitcoin have a potential to grow more but it cannot replace fiat in any ways.

BigBlackSheep57

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Right now fiat currency is the strongest currency and bitcoin also need fiat to run so, bitcoin can't lose fiat at least now.

Emilyp

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The reality is that no digital currency will ever be able to replace fiat, not just Bitcoin but every other digital currency. People will always identify with fiat, think of the large population of the world that has no access to internet and haven't even heard of Bitcoin, how do you expect them to use Bitcoin for purchases? It's not possible.

HeXecutor

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Well ... I totally disagree with bitcoin to replace paper money. However, it is obvious that sooner or later the paper money will be replaced. Therefore, something should come to replace ... and I'm sure that it will not be bitcoin. If it is a crypto currency, then it will be some more perfect and technological alternative. Bitcoin has too many technical flaws.

FlightyPouch

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Quote from: fulled on September 01, 2018, 11:51:27 AM

I think bitcoin will be alternative currency if fiat currency system in future be more safe and transparant, but if not, i believe bitcoin will be the main currency of the world, it will take atleast 50 years in from now in my opinion

I don't think that Bitcoin will ever be a main currency in the future. Not because I am being negative but the reason is the government and it's features. We all know that fuats are being controlled by the government, if they will be using a crypto currency as their fiat in their country, just imagine how volatile will their economy will be. Also, it can be manipulated by a lot of huge whales so I don't think that that will happen.

speedy1987

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Quote from: Bonpay on August 23, 2018, 03:01:14 AM

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

At present current situation one cannot lie that fiat money is more relevant in the currency world than cryptocurrency, but give btc time to mature in the market and find a way to stabilize its value and you will understand why a lot of bitcoin enthusiasts thought of bitcoin as being far more superior than fiat.
we need a more innovative way of transacting to mark our technological progress.

antonhuda

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It seems that bitcoin will remain a digital currency that will be used continuously on the internet world, and fiat money is still used in everyday life. We cannot bring bitcoin in traditional markets and around it. But for holidays or traveling in various countries we can trade with bitcoin according to the purpose.

jzale

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I don't think that Bitcoin will ever replace fiat as a currency. In the first place, Bitcoin failed to function as what the creator intended it to be. Instead of being the lead of digital currency as a alternative to fiat, It became more of an asset, a piece for investment and home for manipulations. Bitcoin has a very long way to be able to function as what is intended for even within 20 years. Fiat has a more established foundation and has been the medium of transaction since the rise of civilization. Bitcoin is very volatile for a currency too. What I can see for now is that Bitcoin and fiat co-exists together.

mornabo

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Quote from: fargoway on August 28, 2018, 10:35:06 AM

Quote from: josephdd1 on August 27, 2018, 05:21:08 PM

In the current time Bitcoin can't exist without fiat because bitcoin is relative to USD and at least for the nearest future one can't separate the two as different entities because BTC is very much depended on fiat.

What? Bitcoin was created to exist without fiat. If sellers start accepting Bitcoin as a payment for goods and services, there will be no need in fiat money at all.

Thats right of course with that condition we will no longer need fiat if bitcoin can be used anywhere and anyone accepts payment with
bitcoin then of course people will be more comfortable transactions using bitcoin and fiat will no longer be used

zeingrind777

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For me, Bitcoin and Fiat money must go side by side because not every store accepts bitcoin as payment. maybe in luxury supermarkets or restaurants, we can pay with bitcoin, but in a village that has a traditional market doesn't understand and doesn't even know about bitcoin and digital money. So, Fiat and BTC must have a balance

fulled

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I think bitcoin will be alternative currency if fiat currency system in future be more safe and transparant, but if not, i believe bitcoin will be the main currency of the world, it will take atleast 50 years in from now in my opinion

block2point0

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Bitcoin and Fiat both are different because bitcoin build with blockchain technology and fiat is holding all world's economy so we can't say bitcoin will replace Fiat but now many new investors getting interested for bitcoin because of bitcoin price touched $20k dollars in December 2017. bitcoin is a new project and its take time to cover market but behind its blockchain technology can make new revolution to crypto world. bitcoin will be Global currency and people will use it for fast and bulk money transaction with minimum fee and this will stand front of other Fiat currencies.

Zalaster

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10 years is a short time. This is not enough to replace fiat. In the future, I'm sure they will both exist complementing each other.

joromz1226

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Quote from: fargoway on August 23, 2018, 03:15:23 AM

Bitcoin is not able to replace fiat, at least now. I believe that there will be another cryptocurrency which would be able to replace traditional money because Bitcoin has a lot of issues as well. BTC is good, but it is too far from perfect.

Btw, I totally agree that Bitcoin is not an investment. It was created for other goals. Greedy people don't get that Angry

This is just your opinion, but for me bitcoin was being used in many features, like in sending money, can be use as payment/electronic payment, and a kind of opportunity which can give profit to each in everyone of us, unlike in Fiat, there is no chance for us to earn it unless you have a job before you can have your own money.

Nilda

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Bitcoin vs. fiat vs. gold vs. banks vs. governments. All of these can coexist for everyone’s convenience. No need to discard something.

Spontebob

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Quote from: talkbitcoin on August 23, 2018, 04:23:30 AM

it is impossible to answer your Poll because they options are the same. for instance my choice is "No" because bitcoin is not supposed to replace fiat and also "They can coexist" because not replacing means they both exist alongside and both work, fiat as the centralized currency that everyone knows and bitcoin as that additional option for decentralization.

Afterall, just like what you have said, the purpose of bitcoin is to be a solution if ever fiat bumps into problem. I don’t think bitcoin will ever replace local currency though. Probably because fiat is used by a lot of people and fully supported by the government compared to bitcoin

Satish147

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Harmony for One and All

Quote from: Bonpay on August 23, 2018, 03:01:14 AM

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

There is more chances for replacing fiat with Bitcoin. Right now most of the countries are already developing their centralized digital currency to benefit from Blockchain but they will fail after implementation. And then real Bitcoin adoption will start by reserving them with every countries reserves.

In this way Bitcoin will replace fiat.

Gonzaleti

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Quote from: C0ld_Zero on August 27, 2018, 10:38:53 PM

I dont think bitcoin can replace fiat money. Fiat monetary standards enable the government to have a lot of control of their economy.
They can choose to print progressively or remove some from the economy through banks. A cryptocurrency would need to be connected to their fiat cash and be absolutely controllable, for a government to permit it instead of their fiat, however that would essentially be a fiat at any rate. So we would require new enactment or new governments.

Bitcoin will not be able to replace fiat money, because banknotes are easy to use for payments and there is a physical form. For example, can you imagine school children using bitcoin? It will be difficult for small transactions such as buying candy, ice cream, buying pencils, etc. But for large transactions that use banking services can use bitcoin, because it is faster, easier, and cheaper. So bitcoin and fiat money can function together as a means of payment.

Vladislav2306

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Bitcoin won't replace fiat completely. You can see it in reaction of some countries about cryptocurrency at all and bitcoin in particular. I think the countries will implement their own currencies based on blockchain technology to save the oportunity of taking taxes.

Topic: Bitcoin vs Fiat - page 2. (Read 876 times)