Topic: Could Bitcoin ever replace conventional money? - page 15. (Read 13876 times)
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.
Today or tommorow bitcoin will be replace as conventional money .the protential of bitcoin is increasing and world most biggest company are acceping it like microsoft and website like streem.
but to be honest bitcoin have to face with goverment because government would definitely want some control over Bitcoins to charge taxes , they won't just allow any decentalised digital currency to overpass their currency.
but to be honest bitcoin have to face with goverment because government would definitely want some control over Bitcoins to charge taxes , they won't just allow any decentalised digital currency to overpass their currency.
Yes of course it will. If not Bitcoin then another crypto currency but one that bg is for sure, a digital currency will replace traditional money or do you expect to use paper forever? People are so silly. xP
Bitcoin is legal what on Earth are you saying? A community without internet won't be able to do banking transactions either.....
Bitcoin is not legal in some countries they banned any transactions of the bank when there's a cryptocurrency involved. They looked Bitcoin as a bad influence to their nation since a lot of people are using it in a bad way that's why it brings a bad image to the government of their country. Could Bitcoin ever replace conventional money?
I'm afraid that will happen. Maybe not in the near future. For me, on my own opinion bitcoin can be use as an asset and not a replacement for Fiat money. Besides bitcoin is not legal yet and still many people or community that has no access on the internet where bitcoin technology.Bitcoin is legal what on Earth are you saying? A community without internet won't be able to do banking transactions either.....
Could Bitcoin ever replace conventional money?
I doubt. Despite of the great surge in popularity and demand of Bitcoin, it still won’t be enough to de-thrown fiat in the monetary system. It’s just not yet feasible at the current time.
It will take a long time to be accepted as a payment method in every country of the world. But I guess it will happen in future, maybe Bitcoin cannot replace conventional money, but other altcoins with better and faster technology can do it.
No! Even after 50 years from now, there will be the people who will be using the traditional money. It is possible that the money will transform into a new optimized format as compared to that of today but system generated currency like fiat currency won't disappear as far as there is a system that is working on it to improve it in every time frame.
Once bitcoin knowledge reaches to the every corner of world people will want to get rid of the conventional money and those who are investor at this time are very much in favor of bitcoin to use as currency and I am predicting that in 2 to 4 year as bitcoin user will become 70% of world then people will also demand to replace the old system because there is no profit in that old system and no more fascination in that.
Of course not. Some industries must use legal tender, can not replace. Of course in the development of the times, certainly the role of currency will gradually decrease, there are a lot of industries, especially in emerging industries will support bitcoin payment.
Could Bitcoin ever replace conventional money?
I think not. Bitcoins are pretty unstable in terms of the price of each bitcoin. It is a bad decision to use bitcoins since the price constantly changes and the changes are big, it would cause a lot of stores to change their prices on their goods everytime the price of bitcoins change.
According to answer this question, bitcoin may or may not be replace the real money. Because their are various reasons behind it. First of all government clearance must be needed. In many country like china, Ecuador, Bangladesh bitcoin is ban due to various issues. While in other developed like japan, America or developing countries like india etc Bitcoin declared as legal. Everyone in this society want be go cashless and Bitcoin help them in this situations. Bitcoin is easily convert into any other currency anytime anywhere. So these things attract more people to use virtual money like bitcoin. Bitcoin provides the safe uninterrupted money transaction so this is another reason. And while you income money through bitcoin you doesn't have to pay tax. Due to those above reasons Bitcoin might be replace convetional money.
No, it’s not going to replace conventional money, or any other fiat currency. I believe Bitcoin shall remain the currency that people use for long term investments like stock and Ethereum would be traded on a regular basis. As long as many people still do not understand bitcoin, it will likely never going to happen.
Could Bitcoin ever replace conventional money?
I don't think it could. Eversince I was born, the conventional money is the money as it is today though it was upgraded. Upgrading it took a lot of time. Thus changing it will take much time longer. Therefore, it is not necessary.
In the world economy both fiat money and crypto currency need to exist side by side.
In the first world countries where there is ever increasing GDP levels, bitcoin has already been introduced in their payment system. This has led to big multinational companies, like Amazon, started using bitcoin. They can think of moving towards a cashless society.
However, in the third world countries the level of poverty is so high that we see an ever decreasing GDP levels. The major crowd cannot even afford their basic necessities of life (food, clothes and shelter). Here it is almost impossible to introduce the concept of crypto-currency, including the far reaching effects of internet. To make both the ends meet here fiat money need to exist.
At any point in time since there is always a difference in the economy of all the countries, fiat money will always need the presence of crypto currency to survive.
In the first world countries where there is ever increasing GDP levels, bitcoin has already been introduced in their payment system. This has led to big multinational companies, like Amazon, started using bitcoin. They can think of moving towards a cashless society.
However, in the third world countries the level of poverty is so high that we see an ever decreasing GDP levels. The major crowd cannot even afford their basic necessities of life (food, clothes and shelter). Here it is almost impossible to introduce the concept of crypto-currency, including the far reaching effects of internet. To make both the ends meet here fiat money need to exist.
At any point in time since there is always a difference in the economy of all the countries, fiat money will always need the presence of crypto currency to survive.
bitcoin can not replace paper money. In many countries, human perception of bitcoin is still very negative, many countries also do not accept bitcoin. Paper money is still the most important, and bitcoin users and investors are all aiming to make a lot of money.
I don't think so. Eventhough btc can not replace convential money have help everybody to rise financial and change the life way
The most important thing which carries the most significance importance in this regard is the legalization of bitcoin across the world. If the governments of different countries declare this bitcoin as legal currency, then there are likely chances that bitcoin and all other crypto currencies will replace the conventional currencies and they will indeed help in making this world a better place to live.
I don't think so. Eventhough btc can not replace convential money have help everybody to rise financial and change the life way
Not unless it stops being so volatile. Even then you run the risk of governments seeing it as a threat and making it hard to do business to the point where it isn't worth the hassle. Who knows what will happen in the long run but thusfar crypto's are gaining in popularity so there might be something to it.
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.
I think not, bitcoin can be only used for digital place, it mean we need to be online to check, buy and sell
meanwhile you can use conventional money when and whereever you are, except you need to exchange it if you wanna buy something online (this is the role of bitcoin)
i think both of them always give win-win solution, so there's no reason one kill another
meanwhile you can use conventional money when and whereever you are, except you need to exchange it if you wanna buy something online (this is the role of bitcoin)
i think both of them always give win-win solution, so there's no reason one kill another
Bitcoin will never be used by governments. They will create their own crypto if they had to go in the blockchain.
Yes of course it will. If not Bitcoin then another crypto currency but one that bg is for sure, a digital currency will replace traditional money or do you expect to use paper forever? People are so silly. xP
Bitcoin is legal what on Earth are you saying? A community without internet won't be able to do banking transactions either.....
Could Bitcoin ever replace conventional money?
I'm afraid that will happen. Maybe not in the near future. For me, on my own opinion bitcoin can be use as an asset and not a replacement for Fiat money. Besides bitcoin is not legal yet and still many people or community that has no access on the internet where bitcoin technology.Bitcoin is legal what on Earth are you saying? A community without internet won't be able to do banking transactions either.....
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