Could Bitcoin ever replace conventional money?

oracleongoodbye

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Quote from: IsabelaFernandes on May 19, 2017, 05:08:19 AM

Could Bitcoin ever replace conventional money?

Its definitely no. Bitcoin value is always depending in real currency so there's no such ways to replace real money with bitcoin. Without real money bitcoin is valueless. Aside from that some country don't like bitcoins because it affects their economy because of many bitcoin users. They're just focusing on bitcoin and not finding a job in their country that's why its impossible to replace real money because some country will going to against it.

Dondisimo

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Yes, it can, at least partially, but bitcoin will replace our usual money. He for this and was created.

Jamescur

newbie

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The proportion of BTC in the world financial system is still small, which has little impact on the world economy.

It's hard to replace the traditional currency!

From the current development, bitcoin can be said to be a good investment project!

fattyforhire

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Not everywhere it is possible, as bitcoin requires minimal technological equipment, at least the availability of the Internet. But in large cities, it may well replace the usual money.

WebTera

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Yes, although it may not be in full, but bitcoin is quite capable of being a full-fledged alternative to the usual currency. It only takes time for it to be accepted in the world.

Raffaele Rago

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Bitcoin's supply is limited, and its unlikely to be 5 billion more inhabitants of the world could have a bit of bitcoin. And there are still some countries or locations that are not yet connected to internet. Bitcoin always be digital currency.

Odelkaleng

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I think it's still a far fetched vision. Conventional money is still an important mean to make values go from one place to another to which the government can get a hold of and have some means to regulate the economy.

ar72

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Bitcoin will not replace conventional money because not all the governments in the world admite bitcoin. It means some countries still use conventional money in their country.

Kaykay

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There are many countries that do not even have an electrical connection, let alone an internet connection. I believe it will take a very long time for it to happen, but it is not impossible that bitcoin can replace fiat.

Lusya8461

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The question is whether Bitcoin will ever replace conventional money.My opinion is that in a few years there will be no simple money,ATMs will not be needed.The process of digital money has already been launched and there will be no refund.Since we have abandoned fixed phones, so we will abandon the usual money and ATMs.And bitcoin will be the king in the digital world. And the cost of it will go off scale.So I recommend that Bitcoin holders be patient and YOU will be on top.The one who will be patient will play out.Good luck, gentlemen and endurance!

Aufar

sr. member

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Bitcoin and Gold can not be printed on a large scale because then the economy feels increasingly insecure by approving orders to print more money.

Gold and Bitcoin are valuable storage facilities not yet released by the Central Bank, therefore, you can dig Gold or Bitcoin, but Gold diggers use shovels, while mining Bitcoin You must have a strong computer system or buy a little cash coin.

So Gold and Bitcoin are similar.

Msile

hero member

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If you look at the credit and debit card usage growth rate than yeah you can say that bitcoin or some crypto currency could replace conventional money. But it will take few decades before that happens as most of the transactions need to go digital before this would be possible. Also bitcoin needs to be able to handle that level of transactions.

Crash21

newbie

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Fiat money will not be replaced by cryptourrencies soon but in future it's possible. At my opinion blockchain and modifications is the way we should move nowadays.

cech makey1

newbie

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Bitcoin can never replace conventional money, different uses, bitcoin more as investment and speculation, just like stocks, in contrast to money that is fixed and stable value, and suitable for use as a means of exchange of goods and services

geegaw

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Quote from: djkyno on April 19, 2018, 09:30:15 AM

I don't think so, because most people around the worl still using fiat currencies, and conventional money a lot more than using Bitcoin or crypto currencies.
Also the governments keep fighting BTC and crypto, and some even banned it in many countries.
It will take more time until BTC become so popular and used such conventional money.

If we have a holistic view and we have some analysis, we will realize that bitcoin does not have too much practical value, it is only the first product of the virtual currency era, in addition, it has nothing outstanding, the value of Bitcoin is generated from our faith. The only thing that's worth here is the blockchain technology, with bitcoin, people just consider it an investment field when people still have faith and pump it up high, sooner or later, it will be eliminated, and if compared with conventional money, it does not have the capacity to replace conventional money, the evidence is as clear as you say, the government and many people still do not trust and support bitcoin

mkcube

newbie

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I dont think so,because we cannot overlap the government.And still it needs a due process and time long enough with development of texhnology and the exact time bitcoin will be the official currency.

Lebovsky

newbie

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Alone, it is unlikely that bitcoin will replace the usual money. States will not allow this to happen. But on the other hand, governments will have to find a substitute for money, because in the near future the entire currency will depreciate due to high inflation, because they are printed out of control.

bce

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Quote from: IsabelaFernandes on May 19, 2017, 05:08:19 AM

Could Bitcoin ever replace conventional money?

it could happen as long as legal and official bitcoin as the applicable currency and in my country still need a process and time long enough but along with the development of technology and the exact time bitcoin can be the official currency

pthnmj

hero member

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I doubt it.
We have a whole economy built on the money we have currently. We still use psychical money to this day, Maybe not much as earlier but it’s still accepted and commonly used. I do not think an economy can be build on top of Bitcoin, especially because it’s too unreliable; the value of it changes literally within a few hours. Besides it’s expensive money and there are not enough Bitcoins to feed the whole world with it.

assyla

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Quote from: IsabelaFernandes on May 19, 2017, 05:08:19 AM

Could Bitcoin ever replace conventional money?

I think it can be part of the world cuttency but it cant replace totslly the conventional money. Although human are always want for something new, sometimes they csnt live what the things thst they usually use and usally do.

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