Can Bitcoin overtakes USD dollar? - page 2.

bitzizzix

sr. member

Activity: 2366

Merit: 448

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Yes, there is a possibility. Just as the Internet is taking over as the main news and music channel from traditional TV and radio, so too will bitcoin overtake fiat or the dollar in a long process as it is still too early and no one will know what the future holds. But the signs are already starting to show.
nothing is impossible in the advancement of technology or anything in the 20 years and above can happen, or it could be the other way around. Just enjoy the journey while we can still enjoy it and live it while we are still around, and even if it happens or not, we don't know if we are still around. Huh

franky1

legendary

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Merit: 4766

its like asking 'can the Euro overtake the dollar'
its like asking 'can the Yuan overtake the dollar'

well the euro is used buy 448mill EU population
the US dollar is used by 330m population
heck the chinese yuan is used by 1400mill population

yet dollar reigns supreme still

heck. even with bitcoin. majority still 'tether' it and price it to the US dollar
im in the UK, i use pound (when not using btc) and yet the exchange rate i have to follow for the btc is the US dollar.
whereby the 'pound' exchange is a second hop of the markets

if there was an influx of british btc buyers. it wont cause a disparity on the dollar/pound rate where the pound rate moves up separate from the dollar.
because the pound rate is not separate from the dollar. its all involved with each other where the pound is just a calculation of a dollar market, not a actual separate market

(coinbase pro markets for btc-usd and btc gbp are the same candle green and reds. exact same shape market line)

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Be more specific — overtake by what metric?

If you meant by adoption, then I think it's highly unlikely. Highly more likely for bitcoin to be an asset that people hold in their portfolios than an asset that everyone actually pays with; or at least not any time soon.

Darker45

legendary

Activity: 2576

Merit: 1860

Just like the above user, I want to know what you mean by overtake.

If by overtake you mean that the number of Bitcoin users will surpass that of USD users, it eventually will. Time will come when Bitcoin will be used as an alternative currency in almost, if not all, countries in the world. The USD, on the other hand, is accepted in day to day transactions in very limited countries.

If by overtake you mean that Bitcoin will dethrone USD in the US, that's not going to happen. USD will stay. It may cease to be a global reserve currency in the centuries to come, but it will not be replaced by Bitcoin as the official currency of the US. It may take several forms but it will never die because of Bitcoin.

TravelMug

hero member

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Merit: 833

Quote from: dhru9 on February 10, 2022, 07:18:26 PM

Let me know your opinion you think USD will overtake eventually the USD dollar?
I don't think it rational if you have more opinion explain why it an take?

What do you mean overtake? Bitcoin has limited supply so that alone tell us that it can't go and overtake any fiat for that matter.

So the answer is NO, there will be no overtaking, what we will have is like taking advantage of both fiat and bitcoin.

goldkingcoiner

legendary

Activity: 2240

Merit: 1993

A Bitcoiner chooses. A slave obeys.

I truly believe that it goes without saying that the Bitcoin will definitely overtake the USD Dollar. Why? The reason is quite simple. Bitcoin is deflationary while the USD is inflationary. Bitcoin has a limited amount that can be mined, the USD can be printed infinitely. Bitcoin has been growing in price, the dollar is becoming worthless and in the future will become completely irrelevant.

Once the US collapses under its own inhumane system of greed and corruption, the USD Dollar will no longer be the "world currency".

jackg

copper member

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Merit: 3071

https://bit.ly/387FXHi lightning theory

I don't think we actually know how many dollars there are in expistance - many dollars also only exist virtually and have been minted by a lot of different places.

$45k is already higher than 1 though too in unit value.
We do also know how many bitcoins there are though too and everything is a lot more transparent.

dhru9

member

Activity: 251

Merit: 80

Let me know your opinion you think USD will overtake eventually the USD dollar?
I don't think it rational if you have more opinion explain why it an take?

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