Topic: Could Bitcoin ever replace conventional money? - page 21. (Read 13876 times)

I think it should replace conventional money as it is very rapidly growing digital currency and it is already in use outside the Asian countries.
 

I don't think so, it will be an alternative value storage but not replace convectional money imo

Even if it could on all the technical aspects.
Governments like their own FIAT too much 

It could possibly if the whole system changes, but it won't.  The mining network and exchanges would need to be significantly more robust and debt would need to be distributed differently since you can't have a fractional reserve and create money from nothing.

   I presume that you have same opinion about other alt-coins? This is just one article about one of the reasons for what limit of 21M bitcoins is good for, I read couple more. You choose in what you wish
to believe in, and before you make any predictions you need to have some knowledge about history and present time. Who saw bitcoin and other alt-coins so expensive and popular in 2017? Just few
enthusiasts in 2009.
   Bitcoin defy common sense sometimes, and giving predictions about future of bitcoin require thinking outside of box. In that kind of thinking we need to accept that many things are possible under right
circumstances! Accept it before you cross out something!

yes, since there are already places that are accepting bitcoin as payment, bitcoin also has value just like conventional money, meaning you can really use is as an exchange of gods, however the price of bitcoin is much higher compared to conventional money, I think there will come a time that when you are transacting for small exchanges conventional money will be used, however for larger transactions, lets say a full payment for  a car or house, bitcoin may be used, since you are not holding any physical money, it is less likely for it to be stolen.

That rigt, It looks like an altcoin will appear that will make it happen,It's time to wait for his arrival

I think it is a conventional money because the people who know little bit about bitcoin are joining bitcoin. Business in bitcoin is growing day by day, it is therefore, price of bitcoin is also increasing. Japan has legalized and many other countries are in process and business is also trustful. People have earned money and become rich so how can we say that bitcoin is not conventional yet. 

I think not. Bitcoin should be used when dealing internationally or traveling. Money for everyday life is more convenient.

Of course not , the government out there is not a fool to accept such a thing and allow Bitcoin to take over their currency and no person will want that to happen. One of the main reasons is the price of Bitcoin is not fixed it fluctuates alot which might affect people. So there would obviously prefer their well settled constant county currency

I think no because paper money is still popular in big countries, but if you continue to use paper money, corruption and money laundering will continue. For me, governments should limit cash use in the future and use Bitcoin in transactions

Bitcoin is a great asset to hold, but I don't think this will eliminate fiat. It is very hard to achieve transactions at Visa level with the technology we have in Bitcoin. But I would say some altcoin, with very innovative technology, could arise and achieve that goal.

But there is a chance that a digital currency can replace a conventional money but not bitcoin. We all know that other countries are starting to make another digital currency and make their citizens use it and just like a normal currency, it will be having a great value.

Yes, it can never replace conventional money. You can use bitcoin by using an internet. So how can some people pay if they don't have the Internet? Its not economical of course. Conventional money still the best way to buy things needed on our daily lives.

There isn't even a physical valuta that can cover the world.
Also the amounts of scams, how slow btc is, the way wallets work...for all of us its okay I guess since we like btc we know about it, we are used to it.

But older people or non tech people, they will get hacked, phished, send money wrong, delete wallets, lose keys etc.
So in short, no I don't think this will ever happen.

I think not because bitcoin as a decentralized system. Unlike conventional money, no institution can make policies that affect the value of this currency. While the conventional currency always has a central authority.

never replace conventional money.
you know bitcoin virtual coin, and its limited, so what if some person or more lose ther password and bitcoin gone.
but bitcoin can be valid payment, and still can replace it

No,bitcoin could not replace conventional money.There is no central body in bitcoins either to fix its value or to print it physically.Its highly volatile and so it has unstable price.Not all the people will be having access to internet and there are more people who are illiterate and they don't know any thing about digital transactions.

I don't think that bitcoin can ever replace conventional money as the user of fiat currency are higher then bitcoins and even in future people will prefer to use fiat money for their expenses and will use bitcoin only as a secondary currency.

it more about the blockchain isn't it? It's more about how traditional banking and a lot more will move to the blockchain to use it as a ledger. Open-Source, transparent and it's much cheaper.
The banks would be laughing all the way to the blockchain, they have major savings to made with it. As have many different sorts of companies. Soon there'll prolly be LibreCalc blockchain alt-coin plug-in, Photobucket will host on it even.

It's the deals we gota' watch for... the affiliations, the friendly's and the lunch-time dinning tables.... As each alt-coin reachs it's specific market, it will become a digitail-asset.

And it will be competitive on the way there. The fees should balance the outputs and provide stability...

I disagree that bitcoin is to unstable to use as a fiat currency right now as we speak. Especially with a retailer that you have regularly done business with. Sure there is a wait time, but why not pay first upon entry to the retailer? You get a reciept like usual, you do your shopping, you get your ledger balance change-reciept at the checkout after you've shopped, it's only changing the order and trusts of the transaction, not the ability to purchase with it.

With bitcoin notes, for many small business's, a current-day bitcore wallet could easily be viewed as a point-of-sale till, that's a no-brainer sell to retailers, he empty's it at the end of the day. Stable price-deviation of a few cents hardly makes an impact on items under $15, even if the price tanks during the day.

CryptoCurrency as a fiat, easy and now! I could walk into a retailer, with printed notes, flash them up to my trusted local retailers phone that requires, go do my shopping and pick up my reciepts on the way out....easy-peasy

It's the alt-coin deals we have to watch... flash a few bitcoin notes around, see who notices...