Could Bitcoin ever replace conventional money? - page 17.

Riddikulo

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Quote from: Walastik on December 21, 2017, 04:50:58 AM

Lately it seems like everyone, from technology futurists to bloggers and journalists, has been loudly predicting that Bitcoin, or some other “universally accepted and untraceable” digital currency, is poised to replace cash. Almost every other day, another article is published praising Bitcoin as the next great payment instrument set to overtake traditional currency as the preferred payment method of the masses.

If bitcoin will begin to participate in cooperation with governments and banks then it is possible to imagine that with the time blockchain technology and bitcoin will replace modern money and bank system.

Walastik

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Lately it seems like everyone, from technology futurists to bloggers and journalists, has been loudly predicting that Bitcoin, or some other “universally accepted and untraceable” digital currency, is poised to replace cash. Almost every other day, another article is published praising Bitcoin as the next great payment instrument set to overtake traditional currency as the preferred payment method of the masses.

Bonakid

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

Could Bitcoin ever replace conventional money?

I think this is not possible because its really hard to replace our money in despite of that there are some people who did not know how to use our new technology and there are some many process to replace it.A digital currency is for investing only and we cannot use it as a cash or as fast we needed it

Havven

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It could. If the technology continues to improve, and if friction continues to be eliminated, then there's a real possibility it could become dominant in the future.

Quote from: ?? on ??

An Australian economics professor has predicted that electronic currency such as Bitcoin will replace paper cash within a decade. Others believe this prediction is unrealistic given the slow adoption of the digital currency. But, all sides agree that digital currency will have an influence on the fiat currency systems of the world.

Do you have a link for this?

BlasterS

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I think in this generation nothing is such impossible to happen.
There is chance in future and I am looking forward on that. Having a standard currency for all country is a big thing and convenience for everybody since they help to establish a civilized system for a great future.

Delarock

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I dont think this would happen for now because bitcoin is not stable. Government still did not have plans to legalized bitcoin here even in my country but some did. Also, other people in my country doesnt know bitcoin and dont have an idea whats the use of it.

jassanpary

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Quote from: SilverChromia on November 19, 2017, 07:23:32 AM

No and i think that will never happen because we all know that bitcoin from the start is only a Cryptocurrency and its good if he will stay like that to avoid having a bad image or bad reputation in a lof of peoples eye in every part of the world. I think if they do that some contries goverment will make a move to block that because if that will happen i think it will be a greedy move for bitcoin and that will not accept by the goverments

The answer is no, we need to understand the difference between conventional money and bitcoin. Bitcoin is an electronic money and won't get the bitcoin with everyone. But traditional cash like Dollar, Euro, Pounds, Rupees etc. , are used by the numerous people and also they are all accepted worldwide and also legal, but bitcoin legal only in few countries, so to replace conventional money is not possible.

congtuan001122asd

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bitcoin can not replace conventional money. It can only be used in some countries, in some cases. The goal of many people when investing in bitcoin is to make a lot of money. Money usually affects people a lots.

dbutp

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Streamity Decentralized cryptocurrency exchange

Bitcoin can replace conventional money in some cases but can not be replaced completely. Although bitcoins are developing and popular, money usually affects people more.

JTASSOCIATES

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We have to keep in mind very clearly that bitcoin is here not to replace anything. Bitcoin is invented for the convenience for digital concept and which can be accessed by all and anywhere.

About replacing conventional Money, first we have to accept that bitcoin is too young and it is performing very well and good giving returns to its investors. If see the volume of Bitcoin roll around is not sufficient enough to used by every one and each and every government has a huge volume of currency and its own value which cannot be finished by cryptocurrency what could be happen is countries can add cryptocurrency as their mode of payment or their own cryptocurrency only time has to tell what will be in future changes.

JohnHero

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Quote from: virtualdn on May 19, 2017, 12:08:54 PM

No because it's too slow!

I agree, for the masses it's too slow. But, cryptocurrencies overall will be able to!

w33man

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

Could Bitcoin ever replace conventional money?

In the future, perhaps it could. With today’s advanced technology, it’s not hard to tell that it will be more advanced in the future, and we may not need conventional money anymore since everything will transacted using computers and the internet by that time.

megynacuna

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Quote from: Ngewex Yuk on October 30, 2017, 05:59:34 AM

As long as the government protects conventional money, it will be difficult to replace fiat money, we all know that bitcoin difficulties to be used legally in the country is due to decentralization so it is feared to disrupt the price of goods or commodities.

That is correct, the governments bias towards their national currency is the reason why i don't think bitcoin can be a substitute currency for fiats because they will like to control it and manipulate their ways with the help of the central bank and since bitcoin is decentralized and wouldn't be possible to control i don;t think it will be feasible to replace fiats in any country.

akmittal

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Bitcoin can never replace conventional money because bitcoin is decentralized crypto currency and not governed or having control of any government.

SilverChromia

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No and i think that will never happen because we all know that bitcoin from the start is only a Cryptocurrency and its good if he will stay like that to avoid having a bad image or bad reputation in a lof of peoples eye in every part of the world. I think if they do that some contries goverment will make a move to block that because if that will happen i think it will be a greedy move for bitcoin and that will not accept by the goverments

Oroplata

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In my opinion bitcoin can never replace conventional money, because bitcoin is decentralized. A conventional money can be replaced by a different type and new crypto currency that is favorable to the country's own government standard.

Rishabh riyz

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I believe bitcoins can replace conventional money,
The potential of BTC is increasing with increase in users and the acceptance , many big companies like dell , Microsoft and website's like steam accepts BTC , we are coming to hear about more and more companies opening the gates of bitcoins by making them a way of payment.

Surely BTC would have to face government , government would definitely want some control over Bitcoins to charge taxes , they won't just allow any decentalised digital currency to overpass their native currency.

manhwa

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of course not. we still need real money. bitcoin can use with internet. it would be very inconvenient if there is no internet.

Ngewex Yuk

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As long as the government protects conventional money, it will be difficult to replace fiat money, we all know that bitcoin difficulties to be used legally in the country is due to decentralization so it is feared to disrupt the price of goods or commodities.

tj4dmx

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Both are in the own worlds.

Depending on what you want to purchase,The speed of transaction are difference,cash to cash is timeless/beyond instant while bitcoin to bitcoin transaction could come up with a hitch most times !!

Can you retrieve a stolen bitcoin And cant you retrieve a stolen fiat?

Havent you ever heard "Lost but found Money" And i am sure you are dying to also hear "Lost but found Bitcoin" ! Smile !!

Is a bitcoin transaction reversible and isnt a fiat currency transaction not reversible incase of error or the likes?
And in case of your death,is it possible or totally/hardly possible for your family to inherit your bitcoin ?

Enjoying best of both worlds as it is presently make life easy to a large extent. Do you agree with me?

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